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    Behind The Shine 1/13/23

    The “latte factor” is a well-known concept in personal finance. The argument is that you end up wasting so much on little things — like a daily coffee drink — that you cost yourself the ability to become wealthy. 

    Many people have bought into this and believe that stripping everything fun out of their budget is the right way to grow their savings account or accomplish other financial goals. In reality, it’s not.

    There are many other common decisions people make that have a bigger effect on their long-term financial success than buying a coffee ever could. Read the common mistakes in this blog post.

    Don’t forget to set a reminder in your phone that I’ll be on YouTube live tonight at 5 PM PST with Kyle to talk about how to build wealth in a down economy.

    We’ll be sharing recession-busting strategies, so you definitely don’t want to miss it! Come join and ask us questions!

    Don’t despair when things go wrong.

    Instead, ask yourself how you can pivot.

    Oftentimes, there’s an answer just on the other side of your problem.

    And if you just think a little differently, it will jump out.

    Fill your mind with information, fill your tool belt with tools, and when things go wrong, you don’t have to freak out.

    The answer is often right on the other side of a pivot.

    Are you interested in joining a league of like-minded people committed to saving money and developing financial independence? Keep an eye out for David’s next educational product, the Spartan League. “Text ‘Sparta’ to 59559 for more info.”

    Mortgage rates are still twice what they were a year ago, but home prices have been falling since June, and that’s finally making consumers feel better about what had been an overheated, highly competitive housing market. Read more in this blog post.

    People think of me as a real estate investor, and I am.

    But they think of me as that first. That actually wasn’t my origin story.

    I was a “save your money” guy long before I was an investment guy.

    I was passionate about not spending money on things.

    My mind was geared towards seeing advertisers trying to trick me into buying stuff. I was always into the psychology of money spending.

    I didn’t become a real estate investor till the second part of my journey.

    So I like hearing the people whose stories start this way because if you have respect for capital, then you understand the work that goes into it and the energy that you put into building it.

    You will approach real estate investing way differently than the person who’s like, “I’m tired of being broke. I want to have some money. Let me go buy a house and try to figure out how it works.”

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