Why Saving Will Make You Broke 🤔

I'm sorry to say this, but saving will make you broke. If anyone is telling you right now to save money, you have to be very careful with this advice. You can no longer save your way to wealth. Your parents probably taught you to save money. Save the pennies and the pounds will take care of themselves. I know I used to get taught that. That's fine when interest rates are 6% or 8%, but saving is only good for one thing, and it's not for building wealth or making money. So I'm going to tell you what saving is good for, and I'm going to tell you what your alternative is to saving money. So, you know, Dave Ramsey's an American chap who talks a lot about budgeting, and he's talking a lot about budgeting and tightening your belt. The problem is right now the cost of living crisis is hitting so hard. Inflation is at 10%, it really is. In fact, it's probably more. Then you've got fuel that's gone up hugely. The cost of energy and gas and food and general living has gone up wildly. Do you know, pound for pound, your spending power is the lowest it's been since the First World War? That's a fact. So you cannot save your way to wealth because your living costs are probably 20 or 25% more than they were before the lockdown. That's a fact. And then adding to that, the big kicker, Interest rates are 1%. So people are saying, save your money, save the pennies, and the pounds will take care of themselves. So you save that money into a savings account, the bank give you less than 1%, they lend it out 10 times. So the bank are clearly going to tell you to save money because they're going to lend it out 10 times over, say they want your money, but they don't pay you any interest. So if you save money Even if you've got 1% interest, which you won't, but let's just say you did, I'll squeak, then you are losing 9% a year just with inflation. So you save £1,000 and it's actually £900 in a year right now. So saving money is losing money. Then the banks don't guarantee it, so you could save money and then you could get fraud or have a security issue and the banks won't guarantee the money, and they'll lend it out a load of And then if they go bust or there's a run on the bank, you lose all your money. So there's only one way that you can build wealth right now, and it is not to save. It is to invest. You must protect your money from inflation by investing into assets that protect the capital, have equity, capital growth, and income. And then that must beat inflation, because if it doesn't beat inflation, then you're earning net less. So anyone that tells you tighten your belt, save money, is actually probably bad advice unless you can get a more than 10% return right now. That is, by the way, inflation won't always be that high and interest rates won't always be this low, but interest rates have been this low for more than a decade and inflation's been getting higher and higher and higher. So if you agree with me on this, hit the share button because we need to educate people, we need to help people. There is a cost of living crisis. The prices of everything is soaring. The supply chains are right down. The cost for materials is right up. Fuel, energy, gas, food, living costs really high. And I'm here to help as many people as I can. So please hit the share button so that we can help as many people as we can. Also, if you write the word toolkit in the comments right now, I will give you some financial resources to help yourself through this cost of living crisis. So I've got 35 ways to save up to half your salary in costs per year. I've also got how to build multiple streams of recurring income, how to build digital assets, how to monetise information, etc. And I'm going to give you it all completely for free if you just write the word 'toolkit' in the comments right now. It's a gift for you. Every week you'll get updated financial resources from me. I'm sending my next one tomorrow, by the way. So pop toolkit in the comments real quick right now. I'm going to help as many people on this planet start and scale their business and get better financial education and knowledge, and I'm on a mission to do that, and I'm doing daily money content. Steve's just written the word toolkit. Anyone who writes the word toolkit, I will give you— there's about 7 resources completely free, and then the weekly updates. And yes, you can save some money, but you can't save your way to wealth. So it'll be more about investing, creating recurring income, multiple streams of income, information income, digital income, etc. So saving is only good as a bridge to prepare for investment. So saving is good as a discipline not to spend, and saving is good to build a bit of a pot so you can make your investment. Investment into property or real estate, investment into gold, investment into digital assets, investment into your personal brand, investment into starting a business. So that's all saving is good for. You should not leave much money in the bank. You should try and get it out into an investment as quickly as possible. Now, when you get your savings out into an investment, number one, you protected your capital from inflation and the banks. Number two, you probably can leverage that a bit to get equity on an asset, and then that asset will go up, and then that asset will produce income. And that is the only way that you get wealthy. You've got it. Honestly, so many people talking about saving money and saving expenses, but if you earn £3,000 a month and you were saving £200 a month, well, you're up— your living costs have now gone from £3,000 a month to £3,600 a month. So you're, you're minus £400 a month now. Just with the natural increasing cost of living. So if you would like, um, Mariana said here, so am I promoting digital money? Not necessarily. A digital asset could be your Facebook group, it could be your Facebook page where you have ads on your lives, it could be your membership site. I have rob.team, my membership site. It could be an NFT that you create. So there's many different forms of digital asset. Again, if you write toolkit in the comments, then I'll give you asset, um, access to, um, some documents that list out all the digital assets that there are that you could start. Because I could sit and talk about certain digital assets, but they might not be right for you. Um, physical assets might be right for you, like property, or you might not want to have a property portfolio. You might, you might have some information, so if you could create an online course or a webinar or a membership site This is a digital asset. Or maybe you love cryptos and NFTs, and you know, you just have that kind of mind where you believe in the future of, um, cryptos and disruptive money. In that case, you'd probably be into cryptos or launching your own NFT. These are all digital assets. The great thing about digital asset is that it costs virtually nothing to set up, it's super fast to set up, and you can reach millions or even billions of people on the internet. Whereas real estate, it takes a long time to set up, it costs a lot of money to set up, and it's a local business. As you can see, there's some of my properties on the wall here in my training suite. So I love physical real estate, but I love digital real estate better because it's quicker, cheaper, and easier to set up, and you can reach a lot more people. Like, I can only rent these properties here to people in the local Peterborough city. Whereas if I teach people how to do real estate investing or building a personal brand, I can teach people across the world in every country accessing the internet via social media. So quick summary, and please, like I said, do hit the share button. Let's help as many people as we can. You cannot save your way to wealth. It's an absolute myth. You mustn't just focus on cutting your costs because your cost of living has gone up probably by 20 or 25%. You can't save save that much margin in, in cost saving. So the benefit of saving is to teach yourself discipline, to put the money aside, but you need to get out the bank as quickly as possible because it's going down in value by inflation, and you need to put it into some kind of asset, digital or physical, and then you can even gear up on that asset. So if you buy real estate, you can put 25% down and gear up the other 75%. Do you know you can even gear up and leverage against NFTs now and cryptos? Not saying you should, Just saying, you can. So when you put money into an asset, or time— let's say you haven't got any money— well, start your own membership site, launch your own webinar, an online course, start monetizing social media, and use your time resource if you haven't got any money resource, and then build income. And then quickly as you can, take that income out of savings and put it back into assets. So if you'd like to build multiple streams of recurring income, digital assets, monetizing your personal brand, you'd like to start or scale an online business, then I recommend you join my special members area, rob.team. So the link is rob.team. Open a browser right now. You can do it while you're here on the phone. You can't click any links. Open another browser, do it right now. And just type in rob.team. And for the cost of a large cup of coffee a month, you can gain access to 15 pieces of premium content every single month on starting your business, scaling your business, especially remotely, internet, and digitally, creating multiple streams of recurring income, building a personal brand, and monetizing social media. Because if you don't make money while you sleep, you'll be working until you die. And it's just a fiver a month. You can cancel any time, and I do 15 pieces each of premium content every month. It could be deep dive live masterclasses, it could be live videos like this but on tactical, practical how-to content, not just ideas and concepts. It could be— and for example, I have my Make Cash Challenge twice a year, I have my 10X Your Social Media Following Challenge twice a year, I have the 2-day Recurring Income Summit with the founder of Netflix and someone who sold half a billion books. This is a $1,000 2-day course, but you can gain access completely, completely for free as a Rob.team member. So it's more access to me, but the reason I've kept it at just a fiver a month, bearing in mind my mentoring is £48,000 a year, the reason I've kept it at a fiver a month is one, because I can reach people globally, but People can afford that in any country. It's instantly accessible online, and I want to help people in this cost of living crisis. I want to help millions of people. So Adam's just put the link in there. Just open another browser now while we're here. I've got to go in a minute, so do it now and type in rob.team, and then you'll get premium content on money, financial education and knowledge, starting a business, scaling a business, creating multiple streams of recurring income, digital income, passive income, online income. That's the kind of content you get on Rob.team. I think it's really needed right now. Most people don't know how to build wealth, how to manage money. You know, they're trying to save their way out of this cost of living crisis. You can't. Inflation is so high, it's eroding your money at 10% plus a year. Your cost of living has gone up so much you can't save the difference. You have to create extra income streams, ideally recurring, ideally digital because it's quicker, easier, and cheaper. So go and join right now, rob.team. R-O-B— I know I'm repeating this, but people always ask me to open another browser now and type in rob.team. Join now for a fiver, less than a cup of coffee, every single month. That's it. Even like one course you get on there sells for $500 or $1,000. You can cancel anytime if you find it's not for you, or you just want to go and try it and see what it's like. I've actually got in 13 days' time my 1-day masterclass on 21 ways— 21, 21 ways to monetize social media. So I monetize social media 21 different ways, and I'm going to teach you all 21 on a full deep dive 1-day masterclass. This will be a $500 course, but for Rob.team members, you get it completely for free. Free. So go to the link rob.moore.team right now. See all the other benefits in there, like the Make Cash Challenges, the 10X Your Social Media Following Challenges, all the different masterclasses, the community of thousands of members, direct access to WhatsApp membership site group with me personally and the other community members. You know, don't do this alone. It can be really lonely with what's going on in the world right now. You know, they say your net work is your net worth. So go and join Rob.team for just a fiver, R-O-B dot T-E-A-M, because free advice is worth every penny. But when you pay, you pay attention. You just need that little bit of accountability to actually log in and go and consume the content. So I'm here to help you and support you every step of the way. So please hit the share button. Let's help as many people as possible. We are in a cost of living crisis, that's a fact. Your cost of living has probably gone up 20 or 25% with inflation and food and fuel and gas and electric and everything else. You cannot save your way to wealth, it will not work. Inflation will erode it 10% plus a year, but then also you've got to make up the difference in the cost of living. So the only way you can gain wealth is to invest, not to save, and to create extra income streams. Not to save, and to build digital assets and not to save. Save is only good to then invest as quickly as you can. And if you'd like to learn how to start a business, scale a business, get better financial education and knowledge, create multiple streams of recurring income, build digital, digital assets, monetize your information, your personal brand, social media, and reach the masses, I'll help you every step along the way Join Rob.team right now for just a fiver. You can cancel anytime. That's what my large coffee costs, and I have 62 of them a month. That's why I churn out so much content. So I'll see you in Rob.team. Open a browser right now, Rob.team. I'll see you there. And remember, if you don't risk anything, you risk everything.