Overcoming Not Making Enough Money
Overcoming Not Making Enough Money
Would Your Life Be Better With More Money in the Bank?
The Wealth Gap
How Do You Overcome the Wealth Gap? (photo created with canva.com)
In 2023, Bank of America reported that 75% of Americans have less than $1000 in their bank account. The news came as a shock to most people and sent waves of fear and anxiety across Wall Street as well through the halls of Washington D.C.
The reason?
Because what Bank of America just exposed was that most people in this country are struggling to make ends meet.
Overcoming the Problem
But the truth is Bank of America’s report exposed something else, which is why their report made everyone on Wall Street nervous.
They don’t know how to solve the problem.
That’s right—the smartest people in our country, the same people who earn in the Top 1% of our population—have no idea how to help people overcome this burden.
But that’s why you’re a subscriber to this newsletter.
This is why you open up this newsletter every single week—because we are overcoming obstacles in each edition.
And this week, we will go over how you overcome this obstacle.
So if you’re ready, here’s how we are going to overcome the obstacle of not making enough money.
First step.
The Wealth Building Strategy
If you want to fix the problem—then you need a way to help 75% of Americans grow their bank account. That has to be the end goal—if you want to solve the wealth gap.
The problem is every strategy we learned in school does not work.
To make matters worse— economists, elected officials and even educators know that what they teach in school is ineffective in terms of helping people build wealth. But here’s the larger issue.
No one knows how to solve this issue.
And if you feel frustrated about the lack of quality in our schools—how do you think the teachers and principals feel, who are in charge of the curriculum. The fact is most educators are scratching their heads, trying to figure out—”how do we solve this wealth gap?”
And the truth is they are stumped.
So here’s the first step.
Learn How to Save Money
The first step might seem simple, but if it were—then Bank of America wouldn’t be able to report that 75% of all Americans have less than a grand in their bank account. If knowing how to save money was a universal skill—there would be less people living paycheck to paycheck.
Therefore, step one is not as simple as it sounds.
Second Step.
Now here’s the second step.
Increase Your Income
One of the biggest problems in the United States is that most people think “building wealth” is largely dependent on Step Two.
“If I earn more money,” most people think. “Then I can build more wealth.”
But this is not an accurate mindset.
In fact, if you skip step one and rush to step two—that’s exactly why 75% of Americans are struggling financially and they are one paycheck away from being homeless.
RESOURCES
I recently published an article on Medium, which goes into detail about how a JC Penny custodian built an $8 million fortune. Yes, a JC Penny custodian had $8 million in his bank account.
And his secret wealth building strategy was following these two steps.
If you want to read that article—here is a “free link” to it:
How to Make $8 Million Without a College Degree
Before I get to step three, it’s important you understand why I know how to solve this problem, when supposedly the smartest people in the world don’t know the answer. After all, these are the people who “lead” our nation.
So who am I?
Who is “The School Doc” and why does he know how to overcome obstacles that no one else seems to know how to overcome?
And the answer is that I have studied obstacles and problem solving techniques for the last 20 years. But I’m not special.
No, the truth is that anyone can become a problem-solver like me, if they wanted to learn.
The issue is that no one wants to learn how to solve problems.
It’s much easier to point the finger—and it’s also less stressful if “someone” else deals with the problem and not you.
Just think about your own problems.
Is it easier to look for someone else who knows how to solve your problems—or for you to sit down and analyze the issue and then create a solution?
And the answer is—it’s 10x easier to look for someone else, who knows how to solve the problem.
So that’s what happened.
Instead of people learning how to solve problems on their own—everyone decided it was easier to look for someone else who could solve their problems for them.
And guess what?
There are no more problem solvers left in society.
Which is why I look so unique—and also why thousands of people contact me with problems that have nothing to do with my area of expertise.
And that’s because once you learn how to solve problems, following the problem solving techniques I’ve learned over the last 20 years—you can solve any problem.
To be clear, I’ve been studying obstacles and problem solving techniques for the last 20 years. I spent 20 years inside the K12 system, first as a teacher, then as a principal and then finally as a superintendent.
But that’s not the only thing I did.
I also did academic research for 20 years and I founded an education think tank in 2013, called The Education Development Institute—to help me with my research and also to distribute my findings and solutions.
How Do You Overcome This Problem?
What’s interesting about the wealth gap is that it’s largely self-inflicted.
No one wants to hear that. Imagine someone saying to you, “you’re poor because you want to be poor.”
You’re not going to like that person very much.
But here’s the bigger issue.
If you’re going to tell people “you’re poor because you want to be poor,” you better be able to prove you’re telling the truth. Not only that, but you better have a solution for people to follow instead.
Because the truth is—without solutions—you are just being mean spirited.
So here’s the solution.
Step Three
Overcome the Anxiety of Money
You might not even be aware of this, but society is filled with anxiety triggers.
And now that we live in a world dominated by social media—we are being triggered every day by our phones. That’s why I recommend you turn off all notifications and sounds, buzzers or triggers to your phone and social media.
The less your phone can alert you—the happier you will be and less anxious.
Money does the same thing to us.
It’s easier to recognize the harmful effects of social media—because social media is loud and in your face. Therefore, it’s harder to see the role money plays in amping up our anxiety.
But it’s there.
And it’s causing you more stress than any other factor in your life.
Which is why when you can overcome the anxiety of money—then you are ready to follow Steps One and Two.
Homework Assignment
I haven’t given homework yet in this newsletter, but this week’s different.
We’re talking about money and building your wealth.
And since this is a very important topic—that means you need to do your homework.
So here it is:
Stop spending money
Increase your income
What I want you to do is take a look at your last month’s statements. That means, your credit card bill or your bank account, depending if you a credit card or a debit card.
The key is to analyze every transaction you made over the last 30 days.
And what I want you to do is walk through each transaction and ask yourself this question:
“Did I need to buy that?”
Because of advertising and social media—you have been conditioned to think you “NEED” more than you actually do. And this is a huge problem for your bank account. This is why I want you to go through every transaction and answer that question, “Did I NEED to buy this or not?”
And if you’re being honest with yourself—you will see that around 50% of the things you bought last month you honestly didn’t need. And there’s a really good chance that 10% of your income was spent on instant garbage.
And if you’re not familiar with the term “instant garbage,” it refers to products or services that are complete impulse buys that break, don’t work, or were dumb to begin with.
It’s not a stretch to assume you spend 10% of your income on “instant garbage.” And that’s because advertisers make it easy to buy “instant garbage.” And they make it easy, because those products and services only cost $5 here and $10 there.
The problem is—before you realize it—you’ve spent thousands of dollars on “instant garbage.”
Shocking! Right?
I’m currently in the process of writing my second book, “The Game of Cash” which is going to outline for people how money works, and also how you can use money to grow your bank account and build your wealth.
The secret, which I will reveal in this book is that “money is like a video game.”
Thus, if you know how to play the “Game of Cash” you will have way more money than you ever dreamed possible. And if you’re trying to build generational wealth for yourself—then this is the one book you need to read.
I bring my book up—because while doing research for the book—I formed a research group to help me test out the financial ideas and theories that I have developed over the years.
What you need to know is that I’ve personally followed these theories myself for the last 20 years. That’s how I built generational wealth for me and my family.
Thus, the question was never, “do these strategies work?”
The question was, “will these strategies work for other people?”
So I needed a research group of people to prove—do they work or not?
So the research group helped me prove the answer.
And the answer is YES! They do work for other people.
The Results
Everyone in the research group fit the profile of the people in the Bank of America report. They all had less than $1,000 in their bank account when we started. But over a 6-month period—they all learned the three steps I just outlined in this newsletter.
And they all grew their bank accounts.
This is why I want you to do your homework assignment.
I want you to follow in the footsteps of the research group—and I want you to grow your bank account.
When you eliminate spending on “instant garbage” and other products and services that you honestly don’t need—you will see your account grow faster than you realize.
It’s not magic—it’s just being smart.
And you deserve to not just “think” you’re smart—but walk the walk as well.
I’m excited to send out this week’s newsletter because I know it can change a lot of people’s lives. If you agree—please share this newsletter with friends and family or anyone you know that’s struggling financially.
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