The 7 Ways People Fail With Money ⛔️
Rob Moore breaks down seven money mistakes: no budget, no emergency fund, too much debt, not investing, poor credit, weak insurance, and overpaying taxes. He argues that savings lose to inflation while leveraged real estate builds wealth, and that most people never learn this in school.
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The 7 ways that people fail with money. Learn how people fail with money so you don't fail with money in 2023. And if you want to turn your financial situation around in 2023, make a note of the 7 areas where people fail with money so you don't. So the first is budgeting. People don't budget. They don't know what they're spending. They're spending more than they earn. They don't have a financial plan. And what is it they say? Fail to plan, plan to fail. The second area where people fail with money is that they don't have enough emergency funds. Now, if you watch my videos, you'll know I think that saving is not necessarily good because of inflation and the risk in the banks, but it is good to have emergency liquidity, emergency funds, you know, maybe for your retirement, maybe for irregular shocks and expenses. And if you don't have a surplus of many months or even years worth of liquidity, then when there's an emergency, you get wiped out. The third way people fail with money is just get into debt. They get more and more into debt. They can't manage their debt properly. Their interest on their debt compounds. Credit cards, student loans, you name it. And then in the end, of course, there's nothing left. Okay, the fourth way people fail with money is they don't invest. So, you know, maybe they get out of debt, tick. Maybe they save a bit, sort of tick. But there's no leverage on savings, and savings are going down with inflation, whereas investing, there's leverage because you can leverage bank finance, for example, to get real estate. And a good investment should at least beat inflation. A lot of people feel that they don't know what to do. You know, the reason I wrote Money, which is the UK's best-selling book on money, is because I feel that you should be your own investor. I feel you should be your own IFA, your own independent financial advisor. You know, why is it that people are not taught how to manage and invest their own money? I mean, it's one of your most important tools you'll ever have in your life. And of course, you know, I do a lot to help people learn how to invest. Okay, the fifth area where people fail with money is credit. They have bad credit, they miss mortgage payments, which is one of the worst, or credit card payments, or they just don't manage their credit properly. And if your credit is not very good, you can't get mortgages, you can't get loans, and it just makes it difficult for you to manage your finances. The sixth area where people fail with money is they don't have good insurance. And I'm not just talking about life insurance, though I am, but I'm talking about insurance against if you're ill, insurance against if you, for example, want to change your career. I actually prefer to self-insure. I mean, you have to insure your car, and of course you have to insure your property. That's a legal requirement. But anywhere else, I like to self-insure, which is just having my own slush fund. So I don't pay a premium, and I don't pay insurance companies a load of money, because insurance companies, they make money and they wriggle out of paying you money. But insurance essentially means if there's irregular shocks or things change, then you've got financial choice. And then the seventh area where people fail with money is taxes. They pay way too much money in tax. They don't know how to get their tax bill down. They don't understand how to do their taxes properly. They get overwhelmed. They bury their head in the sand. They end up getting caught out or fined by HMRC or the IRS or Or they just pay too much tax because they don't know how to get it down because they don't know how to manage their tax affairs. So hope you found this content useful. Quick summary. The 7 areas where people fail with money, you know, this is proven, is budgeting, they don't budget. Saving, they don't have enough emergency funds. They get too much into debt and the interest on the debt is unsustainable for them. They don't know how to invest so they can't get good leverage. They don't manage their credit and their credit is bad. And they don't have insurance for future, whether it's actual insurance companies or self-insuring, and they pay too much money in tax, or they pay tax fines, or they don't know how to manage their tax affairs. Now, if you'd like to be brilliant with your money in 2023, if you'd like to master these 7 areas of money in 2023, make sure you join me on Rob.team. Rob.team is my digital financial freedom platform to help you start a business and scale a business, get better financial education and knowledge, make, manage, and multiply money. Learn about money, what you weren't taught in schools and that the system doesn't want you to know, so you can have your best financial year ever in 2023. There are courses, resources, and masterclasses. There are nearly 10,000 members in Rob.team, and you will learn how to start and scale a business, get your tax bill down, get your income up, build multiple streams of income, and you will learn regularly the 7 ways to make, manage, and master your money. So to join, it's really easy. You just open up a new web page now and type in rob.team. Just do that now. Open any new web page and just type in rob.team. Rob.team. In fact, if you join now, you can actually get a premium upgraded ticket completely for free for the special 3-day Multiple Streams of Business Income event, only for Rob.team members. You can also get my 5 Best Ways to Cash In on the Crash masterclass coming in a few days for Rob.team members. You can get a recording of my 6 Fastest Ways to £10,000 a Month Net Income in Rob.team. You can get, um, my 3 Fastest Ways to £100,000 a Year. You can get my Million Pound Business Model Roadmap. You can get all of this, um, as a member of Rob.team. And it's easy to join. There's no ongoing contract. You can cancel any time. It's less than 20 pence a day. Um, and there's hundreds of hours of content, and it's, uh, I believe, a better financial education and resource than there are in schools. In fact, some schools are now adopting my, um, content, um, as better financial education for those kids. More on that later. So to join, it's really easy. Like I said, no ongoing contract, cancel any time, less than 20 pence a day, pay monthly. Um, and that's in rob.team. Open a new web page and type in rob.team. Tasfik has asked, do I teach investing? Well, actually, there's the 9-module, 10-hour How to Invest series masterclass in rob.team. So point 4 on the 7 ways people fail with money is they don't know how to invest and they don't get leverage. Well, I've got a 10-hour masterclass on how to invest in assets and how to build multiple streams of income and how to get a better return on your money and how to reduce the risk and diversify. And all the different classes. I think we cover at least 10 different asset classes, all in Rob.team. By the way, thank you for all the thank you messages. I love sharing content on start— starting and scaling your business, getting better financial education and knowledge, making, managing, and multiplying money. It's a passion of mine, um, and that's why there's like hours a week of content in Rob.team. That's why there's 10,000 members. That's why there's so many people who are becoming movers, shakers, and change makers in Entrepreneurship. You can join by just typing in rob.team, and like I said, no risk, cancel anytime. I'm on a mission to help as many people on this planet get better financial education and knowledge, and there's not enough, um, schools and universities and colleges teaching good money management. And these 7 areas where people fail with money, they're not even taught in school, most of them. That's crazy. I mean, they're not going to teach you in school how to get your taxes down, but I'm going to teach you that. Um, but why are they not teaching you how to get good credit? Why are they not teaching you about insurance and slush funds and emergency funds and irregular shop funds? And why are they not teaching you about proper budgeting and managing your money emotions? And anyway, I should be grateful because I'm teaching all of that in Rob.team, and that, that means that we get to connect. Um, so join the 10,000 other members of Rob.team, and remember, there's no risk because you can cancel anytime, no ongoing contract, less than 20p a day you pay monthly. Um, so to join, it's really easy. Just type in rob.team, rob.team, in a new window in the internet, so that in 2023 you can get better with your budgeting and your money management. You can get better with saving for irregular shocks and actually know how to save and where to save— not in the banks. You can get out of debt or manage your debt better and have lower interest payments. You can learn how to invest and make, manage, and multiply your own money. You can manage your credit and get good credit scores so you're liquid and you're investable and lendable. You can learn how to insure yourself so that, you know, you've got good future cover. And then you can learn how to get your taxes down. There's actually a How to Get Your Tax Bill Down masterclass in Rob.team with a specialist tax accountant. There's also a How to Build Multiple Streams of Income masterclass in Rob.team. How to Increase Your Earning Power in Rob.team. It's all there. So I'll see you in rob.team. Open a new window right now, join, no risk. Type in r-o-b dot t-e-a-m. See you in the members area. By the way, these, um, 7 areas where people mostly fail with money are proven and well-researched, and I'll be giving you far more content to help you have your best 2023 ever, your best financial year ever. Maybe you'll make 10 grand a month net, maybe you'll get 100 grand a year clear if you follow me and join rob.team. I can show you how. So thanks for tuning in, and remember, if you don't risk anything, you risk everything.
