Wednesday, October 12, 2016

Why Telling You To Live Frugally Is The Worst Financial Advice Ever

When you are told by scores of bloggers that living frugally is great financial advise, you are being lied to.  Living frugally is by far the worst financial advice ever and you have all been brainwashed to believe that it is the best thing that ever happened since sliced bread.

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When you start making buying a mocha frapp from Starbucks a fifteen minute debate in your mind, you've lost.  Flat out lost.  You've freakin' become a zombie in life, choosing mediocrity, contentedness, and inaction, over conquering each day like a genuine badass.

Buy that mocha frapp.  Buy the $30 book.  And if you like a nice expensive watch, buy that too!  When you worry about spending and obsess with being frugal, you have essentially made up your mind about money.  In your mind, money is finite.  The reality is, there is an abundance of money! You've just decided that you'll never get your share so you make like a squirrel and hoard those tiny acorns.

No one who has ever lived frugally had ambitious goals.  Or maybe they did and seeing no way of making their dreams come true instead gave up.  Is the fight too brutal for you?  Have you stopped swinging, following this ridiculous doctrine of frugality as your saving grace?  If this is you, you need an intervention like yesterday.

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Frugality is bad for your finances for many reasons.  Being frugal means you probably despise debt and have this false belief of all debt being bad.  But guess what?  You will never be rich without debt.  Good debt, that is--the type you incur starting a business, buying into an investment deal, or purchasing real estate.

Being frugal also means that instead of applying your entire being to laying down some concrete goals and taking massive action to see them to fruition, you would rather apply your intellect and time to the next best clever way of saving a couple dollars a month.  You're better than this!  You have unlimited, untapped potential to make money come to you.

Here are the myths about frugality you have come to accept:

1.  Frugality will make you rich.

-Wrong! Frugality will limit how rich you can ever get.

2. Being frugal is a lifestyle choice.

-Wrong! Being frugal is a lifestyle default.  No one who knows how to make major mula has ever chosen frugality.  Moreover, it takes absolutely zero inspiration to be frugal, and a lifestyle without inspiration lacks both substance and style.

3.  There is courage, strength, and resolve in someone who has the discipline to stay frugal.

-Wrong again!  There is fear and weakness in anyone who lets frugality be their go-to behavior.  If you pride yourself on your frugal discipline, expecting some sort of trophy for penny-pinching your way into a boring existence, you're metaphorically hiding under a rock; you're too scared to come out and show your true strength to the world.  Unleash you inner lion!

4.  Being frugal and budgeting is cool.

-Not! Being frugal is so not cool.  Tell me, what is so damn cool about bragging you've saved $100K in ten years by saving like a madman?  Why do these people get so much air time on Finance sites?  They have zero talent.  They helped absolutely no one.  Their productivity on this planet amounts to withdrawing their passion and emotional energy from the rest of us.  Failure is cool.  Losing $100K attempting to change the world is outright heroic.

Let me give you ten better financial tips than being frugal:

1.  Learn to make money. A monkey can make money from a job or a side-gig.  I'm talking making bank.

2.  Write down what you want (variable X), and take daily action to get to X.  If you think you are doing enough, just think, there is always someone in the metaphorical gym practicing harder than you are.  You must not want it bad enough.

3.  Spend money so you are motivated to make more of it.

4.  Learn to keep your assets, not your cash.  Your cash is always disposable and if you're not using it, you are losing it.  But this is about protecting what is yours so incorporate, LLC, S-Corp, C-Corp.

5.  Don't tell yourself you can't afford it.  Ask yourself: How can I afford it?  Check your negative, broke person attitude.

6.  Learn the 5 Simple Rules to Becoming Wealthy and devote your life to them.

7.  Discover how you can help others with a monetized passion.  Helping others pays back 10X or more.

8.   Skip the emergency fund.  Apply every last dollar you can to your ventures and investments.  If you should have an emergency, liquidate from investments first.

9.  Don't waste time with budgets.  Pay yourself first at the start of the month and keep your expenses and buying activities consistent.  Focus all your energy on meeting your monster goal.

10.  Educate yourself constantly. Squeeze time in the day for learning.  YouTube has thousands of videos from some of the most successful entrepreneurs just ready to be viewed.  Listen to them on your way to work, in the bathroom, while changing diapers, etc.  No reason why you have to go at it alone.

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Living frugally is sad.  There are so many more ways you can experience the world having carefree money.  Not to mention, it is your moral obligation to help society, not withdraw yourself from it.  And you can't do this living a frugal life.  On the contrary, you have to make, employ, teach, and give.  So if I've burst your bubble, good!  Get over it and start conquering each day like the badass you will soon become.   

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