Where is the Money? - concept #2

Where is the money you ask? Well, it's in many places, but why do we need to know that? The answer is simple.

You need to figure out who has it so you know where to go and what to do to get it. Knowing the whereabouts of money is concept #2 of the money game.

This is vitally important to understand. We all know it doesn't grow on trees, so it's important to understand who has it and roughly how much they have so we can get it - legally.

Bank robbers target banks because - oddly enough - even they've figured out that money is stored there and there's lots of it to be had. Their efforts are wrong and misdirected, but they certainly know where to begin.

And, that's exactly what we need to do as well. Let's understand the answer to two questions:

  • Where is the money?
  • How much is there?

If we don't know where the money is located, then how in the world are we going to get it? As Elton John reminded us, "It's like trying to find gold in a silver mine. It's like trying to drink whiskey, oh from a bottle of wine." We have to know where the money is before we can figure out how to earn it.

In the money game, money is a bit like the pieces that you play the game with. Without knowing where the pieces are, you can't play the game.

There is something that all good real estate agents do - they qualify their customers before spending time with them. It's common sense. They need to know that you have the ability to buy a house before they spend a lot of time with you. They need to know, "Where is the money going to come from to help finance a house?"

If they don't have this information, then they are wasting their time, money and effort for no return at all, except a sore lesson in the need to identify who has the money in sufficient quantity before deciding to spend time showing people a house.

Let's look at where money is generally found in large quantities and regular supply. This is where we would be well advised to try our hand at earning it.

  • Large employers, rather than small enterprises.
  • Retired persons, rather than entry level workers.
  • Professional salaried people, rather than hourly workers.
  • Tradesmen, rather than laborers.
  • Educated, rather than uneducated.
  • Groups (including government), rather than individuals.
  • Private enterprise rather than government.
  • Entrepreneurs, rather than people with a regular job.
  • Conservative decision-makers, rather than non-conservative.
  • Energetic, rather than lethargic.
  • "Delay-ers" of gratification, rather than "live for today-ers".
  • Smart people, rather than dull individuals.
  • Investers, rather than spenders.
  • Misers, rather than spendthrifts.
  • Those that plan, rather than those that simply hope.
  • Mover-maker-shakers, rather than fatalists.
  • Those with a plan, rather than those without a clue.
  • People making money work, rather than people doing the work.

People and organizations with money usually aren't going to find you; rather you have to locate them, so be watchful for these and other indicators that will help you answer the question, "where is the money."

Done with Where is the Money, back to The Money Game

There certainly is a broad scope of topics here at Frugal Living Freedom. When you think about it, money permeates so very many activities in our lives, therefore, being frugal encompasses a wide range of interests, from being employed to taking a vacation, and just about everything in between. Enjoy the variety, pick up some new ideas, and start making frugality a part of your signature.

I'm a big proponent of being debt-free, and I mean entirely debt-free - no mortgage payment. It's not essential for financial freedom, but you'll love the feeling once you get there. If you didn't have a rent or mortgage payment, how much more could you do for yourself with your current level of income? I suspect plenty.

If you ever hope to see an abundance of wealth, you need to plug the hole in your boat. The wealthy don't necessarily make lots of money, instead, they know how to hang onto what they make, and make it work for them.