The Question I Started Asking After The Bank Trip To The Bank

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After I drove my 89-year-old father to the bank, I started asking myself this one question before every purchase I made over 50 bucks. And that one question is helping me kill my $118,000 worth of debt. And is the reason why my family doesn't bleed money like most working dad families do? And today I'm giving it to you. So stay with me. When's the last time you defended a purchase you made out loud before you made it? So I mean, it doesn't matter was it whether it was out loud to yourself, to your wife, to an imaginary judge in your head? Most working dads have never done it once in their life. And today, that's the problem we're solving. Most working dads make money decisions on autopilot. You swipe, you swipe. By the time you look at your bank statement, at the end of the month, the money's gone, and you don't even remember what you spent the money on.

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Where did it all go? I didn't save anything.

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We don't even have to go to the end of the month. You can go back to the last time you got paid. Can you remember everything you spent money on from your last paycheck? The coffee you bought before work, the door dashes, the takeout food for you and your family when nobody wants to cook. The Amazon packages that you get that show up at your door that you can't remember who it would who it was for until you look at whose name is on the box. The I deserve it packages that you buy because you had a hard week at work or your wife had a hard week at work, so she buys it. The target runs that start at $40 that end up at $180. That kind of sounds like my wife. But it could be you two. Those small purchases that might only be $40. If you make 30 of those, that's $1,200 at the end of the month. And at the end of the year, that's $14,000 if you do that every month. Working dads bleed that kind of money every year, all the time. And that same money could be money better used by a family CEO for emergency fund, investing, family trips. But you're spending it every day, every week, every month on things you can't even remember. This phrase working dads love to throw around. It takes money to make money. We throw it around so much our family starts saying it and starts to believe it. But I'm here to call BS on that right now. Because I've said it, you said it, every working dad is said. That's a lot of the reason why I was $118,000 in debt. Because I use that phrase. Man, I use that phrase like a mofo. It takes money to make money, but it takes profits from something to make money. It doesn't take you going to get money for something that doesn't that isn't churning a profit and putting more money into it. It takes profits to make money. If something's not making money, if something's not profiting, then it then you shouldn't spend money on it. And you shouldn't use that as an excuse to buy stuff. For example, I got emailed by a couple guys saying that they wanted one wanting to edit my short form videos and one wanted to edit my long form videos. And you hear all the time all these, you know, YouTube gurus telling you.

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As soon as you can, hire a video editor. Even if you can't afford it, it'll be a great investment.

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With what money? What did I just say? You don't spend money on something if it's not making a profit. YouTube's not making a profit for me. So why would I pay somebody to do my video? My father told me a long time ago, you never pay somebody to do something you can do for yourself. And this is the question that you need to ask yourself before you make any purchase, before you spend money, before you use that phrase, it takes money to make money. As soon as you start to use that phrase, ask yourself this. Why shouldn't I be stopped from buying this? I'll say it again. Why shouldn't I be stopped from buying this? The three things that fail when you say, Why shouldn't I be stopped from buying this? The three things that fail. Number one, I had a hard week. I had a hard week, so I should get this. Who hasn't had a hard week? I guess that's why so many people are in debt or are broke or whatever, because everybody's saying this. I had a hard week. I had a hard week, so I need to go do something special for myself. I don't care what it costs. I need to make myself, I had a hard week. That's your defense for doing something you shouldn't do. I had a hard week. Time that should fail every time. When you see hear yourself using that excuse, that little voice telling yourself, oh no, take your ass home. Number two, it's on sale. It's on sale. Look at it. Look, it's on sale. I don't need this shit, but look at it. It's on sale. I I'm not gonna use it, but it's on sale. If you hear yourself saying that, take your ass home. Get off the shopping, get off your phone. Wherever you see in this thing that is on sale that you don't need, or you see some sneakers that are on sale, but you're a working man, and you work five, six, seven days a week, and you never gonna wear these shoes. You never gonna wear these sneakers that are on sale that you don't really need because you got a bunch of sneakers already. Go find something else to do. Take that money and put it into your kids' brokerage account, savings account. Do something. That's number two that failed. And number three, the one that so many people probably say to themselves and other people say to them when they go out and do something stupid and buy something they don't need. Is what, Ramon? I deserve it. I deserve it, I deserve it. I deserve this thing. I don't need it, I just want it, and I want other people to know that I got it, so I deserve it. And that's the reason why you buy it. If you hear that voice telling you I deserve it, that is not a good enough reason to buy anything over fifty dollars. Anything under $50 you want to buy, okay. I guess don't do it 30 times a month, but you know what I mean? If once a week you say I deserve something that's under 50 bucks, okay. But anything over 50 bucks, that's not a good enough reason. I'm sorry. The number one reason that passes, it pays me back. It pays me back. So whatever you're you're you're about to buy, it's gonna pay you back. It's gonna actually pay you back. Not something that you think is gonna pay you back, you know it's going to pay you back. If you got a long care service business and one of your machines go down and you need to get it fixed, you get it fixed because it's gonna pay you back. It's gonna pay you back. If you're a barber and one of your clippers go out, one of the main clippers go out, you buy that. You get you buy that because it's gonna pay you back. There's no if, ands, or but about it. That thing is gonna pay you back. That's number one. Number two, it protects your family. So whether it's my brakes went out on my truck, I don't have transportation to get to work, to take my kids to school, none of that. That's a non-negotiable. You have to get your brakes fixed. The roof is leaking in your house. That's a non-negotiable. You have to get the roof fixed. Non-negotiable things that protect your family, things you have to have, they pass. It's not you don't think about those things. You don't be cheap, like, oh, I can get some cheap, something cheap done. No, you pay what you need to pay to get it fixed. You find the best price and you pay it. Number three, it's planned and it's budgeted. So you made a purchase, but you've been saving for it for six months. Buy it. You've been saving for it, you saved up the money for it, buy it. It's a planned trip, it's a planned vacation, planned event. You've been saving up for buy it. It's not just something you just go on a whim and you spend all your you know, your check and everything, you don't pay the rent, you don't pay the money. No, you plan for this thing, you budgeted for months in advance, do it. Have some fun, do what you gotta do. The one question, the three things that fail, but before you ask yourself, before you make that purchase, you wait 10 seconds. You wait 10 seconds because a lot of us we do things on autopilot, and you need a couple, you need those 10 seconds for that autopilot to switch off. So if you can wait 10 seconds and then you ask yourself that question, if it doesn't, if it doesn't fall under the three things that pass and it falls under the one of the three things that fail, you don't make that purchase. You don't make that purchase because the way you get out of debt, the way you become your family CEO is through discipline. It's through discipline and switching off that autopilot switch that just makes you do things that you shouldn't do over and over and over and over again, and then knowing where things are going, knowing where your money is going, starting to realize where your things are going, going out, getting the rocket money.

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All right, time to get this money right. Let's see what's draining the funds. Okay, Netflix, do I really need it? Decisions, decisions. There, trim the fat. Feeling good about this.

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And looking at it and see where your money is going. Asking yourself, what did I do with the money that I just had from this paycheck? What did I do? Hell, write it down, put it in your notes in your phone. Do something. But the first thing you want to do is is say that to yourself. Why shouldn't I be stopped from buying this? And waiting 10 seconds and then seeing what this thing that costs over $50, if it falls under what care category, pass or fail. If you haven't watched the video that I made about taking my father to the bank, that's the video that started this all this whole thing off. That's the video that really made me see that this is what this channel should be about. Check it out. Here's the video right here. And down in the comments, drop a comment and tell me about a purchase that you didn't make because you asked yourself this question before you even knew about this this question. You it was a purchase that you thought, or drop a comment and say a purchase that you made that now look watching this video, you shouldn't have made. I reply to everybody, I want to know what working dads, how we're thinking about the purchases we're making, the debt that they're that that we're in, the investments that we're making. Check you out next.