Discover why your boss may secretly want you to live well above your means, even though it may not be in your best financial interest. You have probably never heard this information before. This is power insight that comes from the real world. I've gotten to know quite a few business owners and bosses over the years and learned how they operate. When they have a talented employee that is full of potential, they will try to trap the person into a lifestyle of living above their means. In this video, you'll discover why they do it and how to stay out of the trap! Pass the message along to anyone you know that has a job but also has potential to do more in life than just be a slave to their boss.
Why Your Boss Secretly Wants You to Live Above Your Means
- Living Above Your Means
When someone gets a new job, receives a promotion, or graduates from college, the first thing they think about is buying a house. But with a house comes a big fat mortgage. If you qualify for a bank loan, there is debt to income ratio, which can result in an expensive payment.
But then you might decide that you need a nice new car to go with your nice new house. If you are fresh out of college driving around an old beater, you might want to impress your new job by driving a nicer car. If you're in sales or financial services, you might need a flashy car to reflect your success.
Expenses will start piling up because you have built yourself a lifestyle of looking rich and successful held up by your job. Your J.O.B stands for Just Over Broke. This job that's paying you $50,000, $100,00, or $150,000 a year, whatever the case may be, is what's actually holding up this crazy lifestyle you built.
Your Boss’s Influence
Your boss might be playing a part in the process of encouraging you to live above your means. I know quite a few auto dealership owners, investment banking partners, and law firm partners, that encourage new recruits into this lifestyle. The bosses wants them to have as many expenses as possible as soon as possible. This makes the job the fulcrum of keeping the rest of their lives afloat, so like a dog owner has a leash, an employee is leashed to their job. They can't really afford to go anywhere because the job is keeping everything afloat.
When you are living above your means you are unable o make investments, start your own business, or do things that can help build lasting wealth. You cannot obtain ultimate freedom, because you are stuck in your job. and ultimately freedom. You are forced to work every day and end up in a situation where your job controls your freedom. Some people are even tied to their job because of certain responsibilities to their families. They are barely scraping by with their minimal paychecks and cannot afford to quit.
The people I am focusing on are the ones spending money to look and feel successful. The thing is, this doesn't create freedom, it actually creates prison. I have a great video called, "Personal Finance Wisdom You'll Hear Nowhere Else". You can check this video out for some concrete wisdom on personal finance.
Getting on the Right Path
To get on the right path you must get rid of as many personal expenses as possible. You also need to start earning extra income by flipping houses or something that will provide you with extra funds. Get into a position where your job is no longer the fulcrum of your financial life, just apart of it.
Most bosses want their high capacity employees to be stuck in their job. They want them chained to the J.O.B., because they're making money off of them. I encourage my team to purchase real estate, so they can do their own thing if they choose.
I hope you have a boss like that too, but most people don't. Most bosses want their employees chained to the job so that they can make more money off of them. So if you are young, just getting out of college, don't fall into the trap. Be smart with your money and earn extra income in order to have more freedom.
If you are interested in more information on my team and our apprenticeship, please fill out our apprentice form. This a great first step to getting yourself out of the cycle of working in order to survive. We teach our students how to invest in their future without being tied to a job for financial security. Start taking charge of your life and stop allowing yourself to be tied to the game of buying to please. It is not about how rich you "look" it is about how financially stable you are in your every day life. All you need to do is eliminate your current expenses, start earning extra cash, and invest your money smart. Do these three things and you are well on your way to financial freedom and tremendous opportunities in life.