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You now can become a Savy Money Manager!
Uh oh.
You might have just landed on the page that changes how you look at money for the rest of your life.
Trust me. That’s a good thing.
Welcome to The Savy Money Manager.
What is Savy Money Manager ? Let me briefly explain….
Savy Money Manager these are the core principles of what this blog is about and what we are committed to. Most people have a HUGE disconnect with their finances and basically I’m fed up with it and not going to take it anymore. Boo-yah!
Savy Money Manager was initially started from the introduction of the TFSA where many people started all to write about how freaking awesome the TFSA is...
I followed that with the Life Insurance do's and don'ts, Making sure that you weren’t skimping out and making sure your family is protected. (If you still don’t have affordable term life insurance, go HERE immediately).
In 2008, I joined forces with Dave Ramsey on Debt Elimination where we are currently motivating people to pay off $10 million dollars of debt.
In January 2014 I launched what is now a lifetime goal: How to Bullet Proof your Retirement. This movement is a bit different in that I want to encourage over 1 million people to invest in themselves, properly.
Although these movement were all independent each other, they all had one similar underling theme:
“It’s time to step up and take control of YOUR money.”
Below is the core beliefs of what those movements were about and what The Savy Money Manager (and this blog) stand for.
Rule#1 We never believe it's to late to get
started.
Never say never. Period. We don’t like quitters, but we also understand that quitting something might lead you to a better opportunity.
But just because you procrastinated for the last decade and haven’t saved a dime, doesn’t mean it’s too late.
It’s time to “soldier up” and figure out what the minimum item you need to do get started.
Sign up for your company’s RRSP? Do it.
Open a TFSA? No more excuses.
Start your new business? Doesn’t happen on it’s own.
It’s time to start.
Rule #2We Never Become Complacent
Since I was a kid, I was always instructed to not become lackadazickel (new word).
For me that meant put my bike and toys away or they will rust, breakdown, fallapart.
Kinda like growing a garden, if you don't tend to the weeds (when they are small), they will take over your whole plan.
Are you “financially lacadazickel’?
If you’re not sure, answer these quick questions:
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What is your RRSP currently invested into?
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When’s the last time you checked your credit report?
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How much are you saving each month for retirement?
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The title of a book I should write is “Take Charge of Your Money and Invest in Your Future”.
The first part is most crucial ."Tell your money what to do, don't wonder where it went?"
Stop being lackadazickel with your money and learn how to make fast cash!
Rule #3We Know There’s More Than One Right Way to Do Things
You should ONLY buy Guaranteed Investment funds. Why?
Active managed funds are the BEST thing ever! AND they are protected against market down turns click GIF here- - >> GIF
Perhaps….
You should NEVER use credit cards. Ummm….but I like getting cash back.
My motto has always been “different strokes for different folks.”
We / I avoid using auto adjusting stocks (and think you should, too), but that doesn’t mean that you are WRONG for using them.
Be careful of those that look to cram their ideals down your throat.
Just because it worked for them, does NOT mean it will work for you.
Find your own mojo, and make magic happen.
Rule #4We Always Trust, but Verify
A good friend of yours suggests to invest into some stock that he has officially labeled “the next BIG thing”.
Do you dump all your money into it and hope for the best?
If so, slap the back of your hand and throw cold water in your face. If you are joining The Savy Money Manager club, you never invest into anything that you haven’t done a little bit of research yourself or at least obtained a second opinion.
Before you act on any investment tip, follow these guidelines:
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Consider the source. Tell me you didn’t get excited about a stock tip from your co-worker that day trades their RRSP? If you were my kid, I would put you in timeout.
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Ask yourself, “Why is this so good?” I love when people watch Jim Cramer or some other late night guru,and then come to me ready to buy some stock so they can make millions. Warning: I may head butt you for this stupidity.
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Is it really a game changer? If you invested every single penny you had into it and the stock doubled, would that drastically change your life? Reversing roles: what if you lost every single penny you invested into it? If that would affect you more than making a little bit of profit it’s not worth it.
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Verifying also applies before hiring a trusted advisor. Surprisingly, more than 70% of other people don’t do a background check before hiring a financial advisor.
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I say “other” because that’s not you.
Rule #5We Keep Our Debt in Check – Fool!
Mr. T says, “I pity the fool that has too much debt!”
Okay, I really don’t know if he said that, but he should have!
I’m cool with people using credit cards for rewards that pay them off each month. What I’m not cool with is people abusing their credit privileges and constantly looking for how to get a loan from the bank to buy crap they don’t need.
Just because you can afford your monthly payment, doesn’t make you in financial good shape. That’s what one guy tried to make me believe and I could have filmed a financial rant video about him. Don’t be the topic of my next video.
You have been warned.
Know the Truth
Debt can crush you. I’ve seen it first hand with clients, friends, and my own family. Getting out of debt should be your priority.
If you’re in denial, don’t be. You need to know exactly how much debt you have.
Some clients tried to convince me that they only had a “little bit of debt”. Turns out they had over $50,000 of debt!
<insert panic attack>
$50,000 of debt is not a “little bit of debt”!
To get out of debt you have to know what you’re working in. Drop the denial and attack it with a vengeance.
Rule #6We Keep on Getting Edumucated (never get comfortable)
After taking my last final of my senior year, I remember saying to myself, “I just took the last exam of my life. Yes!”
I couldn’t have been any more wrong.
Since then, I’ve taken multiple tests for my Financial Securities Advisor designation, and insurance licenses and, waiting to get cleared through Canadian Securities Exchange Commission, criminal records check etc... (funny they will not allow a crook into this industry)
Above that I’m constantly devouring new books (especially love books for entrepreneurs), reading blog posts and trade publications, purchasing online courses and on and on and on.
I expect the same out of you. The world is every evolving and you HAVE to stay ahead of the curve.
For you, this could be getting your Masters or Doctorate degree. It could be getting a new certification for you current job. At least keep up within the trends in your own industry.
Whatever it is, you have to stay hungry and keep advancing yourself.
Why? Because I guarantee there’s someone out there who’s just as hungry (or hungrier) as you and they’ll pass you up and leave you in the dust.
Rule #7We Invest In Ourselves (because if we don’t, who will?)
Most people think of investing as buying stocks or mutual funds. Since I’m a financial planner, I assume that’s all you would get from me? I’m happy to surprise you.
One of the best things I’ve ever done personally and professionally is invest in myself. I mentioned above how I obtained my Financial Securities Advisor designation.
Did I mention that I had to pay for it out of pocket? Did I also mention that I did not get a pay raise for getting it?
I put myself through the misery of an 11 month fast track study program because I craved the knowledge I would have from going through it. I also knew that while I wouldn’t see an immediate boost in income that eventually it would more than pay for itself, which it has, and as a result, helped many many clients.
Since then, here’s how I’ve continued to invest in myself:
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Traditional investing into my TFSA through my business and personal (stocks, mutual funds)
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Enrolled into several coaching programs (Financial Peace University)
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Invest time into a weekly mastermind study group where we share business ideas
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Invest into my online business. I detail all of that here.
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Purchased several online training programs
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And on and on and on……
I’ll never stop investing in myself and you shouldn’t either.
Rule #8We Never Blame Other People for Our Money Struggles
“The government took all my money!”
“My parents won’t help me out anymore!”
“My job sucks!”
“I just can’t catch any breaks!”
Listen. Life sucks and we all know it. You can waste your time complaining about your situation or you can do something about it.
“Say and do something positive that will help the situation; it doesn’t take any brains to complain.”
–Robert A. Cook
If you chose to join the Savy Money Manager club, it’s time to start doing. You are the only one that change your situation.
Sure, people are going to screw you over along the way, but it’s not your job to worry about them. Don’t worry. They’ll get theirs eventually.
Focus on what you can control. And for peep’s sake, stop blaming other people!
<end rant>
Rule #9We Take Care of Our Battle Buddies
When people joined the military they get introduced to the concept of a “battle buddy”. A battle buddy is someone that has your back no matter what.
They know your darkest secrets and will go to bat for you even if it means they take the heat for it.
Most importantly, they are not afraid to “keep it real” with you when they know you’re screwing up.
If you’ve seen Good Will Hunting, then you would know that Ben Affleck’s character is the epitome of a battle buddy.
My Battle Buddy
Story about Jeff: In college Jeff already had credit card and student loan debt but had somehow convinced himself that he needed/deserved a new flat screen TV. He had done research and found that he could get a 62″ flat screen TV at Best Buy with 0% interest. Come to papa!
He told his girlfriend (now wife) his master plan and instead of supporting him, she offered him the following response:
“Do you really think you can afford that right now?”
How dare her! He was miffed that she could ever question his logic. “WHAT?, yeah, I can afford it”, He lied to himself.
After he sat on it for a few days, he undoubtedly realized she was right. She knew the struggles his father had with debt and that he was following a similar path.
Buying this TV on the income he had at the time would have been opening Pandora’s box for future financial blunders.
His wife knew that, and she stepped up, was my battle buddy and gave me the biff slap that I needed.
Note: She technically didn’t biff slap him but if he would have bought the TV….well, you never know.
Rule #10We Call Out Our Blue Falcons
We just learned what a battle buddy is. Well a blue falcon is the complete opposite. The more common name used in the military is “buddy fudger”. <<Keepin’ it PG-13
In basic training, a Blue Falcon (Buddy Fu#$er) was the soldier who didn’t care about what happened to everyone else. Actions could include talking in formation, falling asleep during guard duty, not properly securing your weapon.
Their carelessness often meant we would get the crap smoked out of us, i.e.; pushups and A LOT of them.
Who are the blue falcons in your financial life? Here’s a few examples:
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Broke parents that try to mooch off their successful kids.
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Lazy adult children that continue to mooch off their parents.
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Friends that guilt you into going shopping when they know you’re already in a ton of debt.
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Co-workers that continue to badger you about not eating lunch with them even know they are full aware of your financial situation.
In basic training we would kick the soldier’s butt who would continue to screw us over intentionally. Ever seen Full Metal Jacket? Ahem.
Rule #11 We Aren’t Afraid to Fail
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Those who dare to fail miserably can achieve greatly.
-John F. Kennedy
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You’re never a failure.
A mentor of mine helped me realize that every time that I thought I had failed in the past wasn’t a failure at all. It was a valuable learning experience. I learned what didn’t work.
Most importantly I learned a way to do it better.
I have a secret. You’re going to fail. It’s inevitable.
The key is how you respond.
Will you let it bring you down? Or will you say “screw it” and attack it with a vengeance?
If you’re in the Savy Money Manager club , then you better be ready to attack.
Rule #12 We Always Give Back
I was raised a Mennonite Christian (and no i don't speak low German!) and my grandma always taught me to give back. That wasn’t just tithing but also giving your time to other people.
We all have unique experiences that is a wealth of information for the person just beginning that journey. Educate them. Mentor them. Prevent them from making the same mistakes.
Did you get yourself into a money jam? Make sure your kids, friends, co-workers don’t do the same boneheaded thing you did.
Make a lousy investment? What did you learn from it that others might benefit.
We all have something to give.
Giving is true having.
–Charles Spurgeon
Let’s Kick Butt Together
Above is what Savy Money Manager club and I are all about. If any of that resonates with you, join us.
If you’re still unsure, join us.
When I signed up for any association, there was part of me that still had doubts: Is this right for me? Am I really tough enough? If I would have let those doubts control me I wouldn’t be here today. Be bold and take action. Besides, it’s free!
