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Luis Barajas argues that doubling your income doesn't require doubling your hours. Most people assume earning more means working 160 hours a week, but that's impossible. Instead, focus on creating more value in the same time.
Luis Barajas argues that doubling your income doesn't require doubling your hours. Most people assume earning more means working 160 hours a week, but that's impossible. Instead, focus on creating more value in the same time.
This is Luis Baragas welcoming you back. Today we're going to talk about how you can create more value thus and make more money. So normally when I'm working with a client that's struggling with, with their finances, what happens in the normal financial planning world, people like to sit down and do a budget for that, for that person and then take a look at all their expenses and see that what they can cut out so they can have a little bit of extra money to invest or to save to, for their down payment for a house or whatever they want it for. I like to focus, first of all is how can we earn more money? So because most of the clients that I meet with are already living a pretty tight lifestyle. I mean, they're not really spending a lot of money and a lot of crazy stuff they're focusing on most of the time just housing, food, clothing. So I work with a mindset on how to create more or how to earn more per week. Now normally the problem is that math gets in the way because our brains are wired to think a certain way. So when I talk to somebody, for example, in this situation here who's earning $40,000 a year and working 40 hours a week, and if I ask them what would have to happen for you to make $80,000 a year, they quickly think, well, I have to work more hours. I'm going to go to the boss and see if they'll give me overtime or I'm going to have to go find a side hustle and work in the evenings or work on the weekends, or start a small business beyond my 40 hour workweek. And so, and some people that I work with saying, you know what, 80,000 isn't even enough because I live in Southern California. It's just really expensive. I'd love to make double that. So obviously what happens is that they're thinking, the brain thinking, if I make, I'm making 80,000 working 80 hours. Now I'd have to work 160 hours to make 160. So what's the problem with that? Well, here's the problem. The problem is if you think that way, you, you'll never get ahead because it's not about working more, it's about making more in the same number of hours that you're already working. Right? And so, for example, in this situation here, we've got seven days a week times 24 hours. That's the most amount of time you have an entire week. How would it even be possible for you to work 160 hours? It wouldn't be. You'd have eight hours for the entire week for everything else, for, I mean, not a day. Eight hours for the entire week to sleep, to eat, to go to the bathroom, to shower. I mean, whatever other stuff. That's impossible. Yeah, I mean, you'd last. You probably die within three months. Nobody can work those number of hours, not for a consistently long time. So what needs to happen. What needs to happen is that we need to think outside the box and say, well, do I know people who earn 160,000 or even more who work only 40 hours a week? And almost everybody can. Knows. Almost anyone knows someone who's earning that kind of money. Okay, not everyone, but there are a lot of people, like a lot of the clients that I have that are, that are working, they're making 2, 3, 400, half a million dollars or even more working 40, 50 hours a week. No more than 50. So what are they doing differently? So we're going to talk about that in other videos of what you can do to become more valuable and create more income and, and working less hours.
