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Financial Overhaul: Course 6

Do The Opposite of Everyone Else

Another step to your successful financial overhaul is also very simple: almost always do the opposite of everyone else.   Although this is a very simple concept, it is still very difficult for most people to carry out.  Many people are fearful and skeptical of doing almost exactly the opposite of what everyone else is doing.  This fear comes from the “leaving the herd” mentality.  It seems like it’s always safer to follow the heard.  However, doing the opposite of the majority is absolutely critical for your financial growth.  It’s also, ironically, a much “safer” approach to finances.

Financial Overhaul - Do the Opposite of Everyone Else

The “Herd” Will Lead You Off the Cliff

Have you ever heard of the American-Indian buffalo hunting story where the Indians herd the buffalo over the cliff?   When you are in the “herd” mentality, you have little or no control of where your financial life is headed.  When financial struggles hit, you will have no where to go except for off the cliff with everyone else.

A good example of this was the mortgage crisis that exploded at the end of 2008.  The trend of the 2000’s was to acquire 100% financing with adjustable-rate mortgages when buying a house.  It appeared to be a completely acceptable financial decision: everyone was doing it.

Then, the market crashed. The adjustable rate, 100% mortgage backfired with a vengeance.  Real estate values decreased.  Because nobody put money down, the properties where immediately “underwater” with negative equity.   Foreclosure and bankruptcy became increasing popular.  The financial “herd” literal fell over the cliff by the thousands nationally.

The road to financial success is more rarely traveled: there will be few people on the road with you.  Just because 99 out of 100 people are not with you stay confident.  You are exactly on the right road to a better financial future.   This road will not lead you headlong over the cliff of financial failure: it will lead you to a better financial life.

Examples of the “Opposite”

What is the opposite of what almost everyone else is doing?   It’s simple: save all of your money for investment.  This will allow you to make more money from your new investments.   The cycle never ends: live under your means and invest.   With the investments, you have even more money to invest.    The second part is also very simple: invest in your financial knowledge and understanding to make even more money in the future for investments.

The “herd” mentality is to progressively spend all money that you make on living expenses.  Houses, cars, and toys come in all sizes and price tags.  Most people immediately spend any new income on a “better” version of these things instead of investing.   The “herd” mentality is too progressive increase the household expenses budget.

What is the “opposite” goal?   How about living on 10% of your income and using 90% of your income for investments and financial education?  How soon would you be financially successful if you were willing to make such a commitment?  How do you know if such a goal is impossible before you try to achieve it?  Is the goal impossible or are you simply unwilling to do it?   This may be an extreme example, but it is exactly the way that many financially successful people live their lives.  Soon the financial pie grows until your “10%” becomes much larger than other people “100%” of their income.

As a specific example, what if you decided that you would live with family or purchase a multi-unit apartment building to eliminate most of your living expenses?  What if you negotiated a work-housing deal?    Then, what if you used your money do acquire businesses and real estate assets that pay you passive income each month?   What if you used the time also to save money for a paid-in-full house?   Your net worth and financial knowledge would grow quickly.

What if every other weekend you attend an internet marketing seminar?   What if you attended real estate workshops?   What if you went to national conferences for the business in which you are interested?  How soon would you be a successful leader in your industry?

You would be doing the exact opposite of everybody else, and, consequently, you would be on the road to being financial successful.  Your financial overhaul would be very real and complete.  After you gained such knowledge, you would likely never return to your old ways.

Conclusion: Doing the Opposite of Everyone Else Can Be An Exciting New Change

Most people dread the loss of perceived “comfort.”  Most people are afraid to do the opposite of what everyone else is doing.  These feelings are usually very inaccurate and misleading.  In reality, doing the financial opposite of what everyone else is doing can be an exciting new life change.   It will bring great rewards and new excitement that the “herd” mentality can never deliver.


Quiz 6 – Do the Opposite of Everyone Else

The Final Course

Action Plan – It’s Game Time!  Course 7


Never Take the “Easy” Way – Course #5

Why does everyone take the easy way in life?  It’s simple – it’s easy!   It is much easier to do things the fast “easy” way instead of doing things correctly and thoughtfully.   The easy way has an immediate reward.   The correct and thoughtful may reward you many-fold over a life time.  One of the most important lessons to learn for financial success is to never take the “easy way.”

Taking the “Easy” Way Destroys your Chances for a Financial Future

Taking the “east way” destroys most people’s chances at a successful financial future.  By taking the easy way, you are essentially trading your future financial success for the “now.”  If you want a car “now” by financing it, then you are destroying your chances at saving for investments in the future.  If you buy a mortgaged house, then you are destroying your chance to learn how to acquire a house (or many house) paid-in-full by careful financial planning.

Almost every time you take out a loan, you are trading your financial future for the immediate.   Credit Cards and loans are an easy way to pay for life expenses, but they doom you to financial failure almost every time.   In fact, if you are taking out loans for living expenses, you are likely already to financial planning and are “taking the easy way out.”

Taking the “Easy” Way Destroys your Motivation for Learning About Financial Things

If mortgage loans were outlawed next week, do you think that would end most people’s desire to own a home?  Absolutely not!   Most people would immediately seek knowledge or understanding on how to buy a home paid-in-full over some short period of time.   Perhaps, they would create other creative ways for purchasing a home that would not involve mortgages.  In any case, the public would quickly be forced to gain considerable financial knowledge and discipline in order to achieve the now “harder” goal of purchasing a house.

Financial Education Course 5 - Never take the easy wayMortgages or other financial practices do not need to be outlawed: you can chose to gain considerable financial knowledge and discipline to take the “harder” way even if “easier” options are still available.  The real twist to the “easy” versus the “hard” debate  is the very words in which they are described.  In reality, the “hard” way of doing things is actually much easier over time if it is applied.   The “hard” way is actually not hard at all: it is just the correct and moral way of living your financial life.

We all have heard of the concept of being a good steward with our lives.   We all have the moral responsibility to manage our lives in the most productive and orderly way possible.   This is the very fabric on which our society is built.  When you do things the hard or correct way, then you get to very much take advantage of the peaceful financial systems that our present in our world.  You essentially are able to allow “money to work for you” – instead of just “working for money” your whole life.

For example, a person that diligently studies and saves to buy a paid-in-full home will be much benefited by not having to pay mortgage payments.  If he was able to acquire the paid-in-full home over two to three years, then what is stopping him in the future?   The same person can acquire one, two, or maybe thirty more paid-in-full properties over a lifetime.  He can receive rental income from these properties.  From this income, the decreased demand for “job” income can even give the person more time to build their financial knowledge.  Later in life, this same person could have a multitude of real estate or business-based assets generating income.

Or, the same person could have gotten a mortgage.  His financial “mind” would have stopped there.  He would probably still be paying on the same mortgage twenty years later.  He would only partially own one mortgaged house.

Conclusion: The “Easy” Way is Dangerous

Do you understand now the danger of doing things the “easy” way with finances?   The “easy” way is actually a deception: it is much, much harder over a lifetime.   If your financial past is dominated by the “easy” way, you may need to completely start over in life.   Your commitment to following the “harder,” correct way of approaching finances may require you to make some drastic changes.  These changes may be incompatible with your previous, “easy” way of going about your financial life.

Test Your Knowledge!  Take The Quiz!

Quiz 5 – Never Take “Easy” Way

Future Courses Will Be Released Soon!

Do the Opposite of Everyone Else – Course #6
Action Plan – It’s Game Time!  – Course #7