How Money Works - Zan Monroe

I want to talk to you about this book and something that I think is powerful. And it's called How Money Works: Financial Lessons I Learned Working in the Garden with My Mother. There are 3 types of people out there. There are poor people, rich people, and wealthy people. Got it now? There are poor people, rich people, and wealthy people. Here's how it works. Poor people spend their money the minute they get it. I worked in the construction business on Friday afternoon and had workers say, "Take me to the bank and cash my check and then take me downtown." And when I turned them out of the car, I go, "You know where you're going to go. You're going to go drink up your paycheck." And they go, "Oh no, sir, I'm not going to drink this weekend." I did that last weekend, and on Monday or Tuesday, whenever you can find them, they are broke one more time because they took in money and they spent it. That's how poor people live. That is a choice they make. Rich people take in their money and they spend it. Immediately. Just like poor people. They just do it at a higher volume. $10,000 a month in income, $10,000 a month in expenses. They have a $6,000 house payment, a $2,000 Lexus payment, they have, you know, a $150 cable bill. They spend all they take in. They are just like poor people. They just do it at a higher volume. They're at the country club. They're at the social functions, they're driving the fine cars and living in the fine houses, but they are as poor as poor people. Which brings me to wealthy people. Wealthy people live below their means. They simply spend less than they take in, and then they take the money that is left over every single month and they put it to work building money that makes money. And at the end of the day, my mother was always right. Rich people or wealthy people don't work for their money. Their money works for them. That's straight out of my book, How Money Works. Think about it as we roll around this next few days. All right, let's talk