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.
Ron Hill says
My wife and I are ready to apply for your apprentice program.
We’ve followed your YouTubes and learned a great deal.
e’ll continue to learn from your YouTubes and implement what we can.
God bless you
Freedom Mentor says
Make application here!
SD Bakshi says
I appreciate you for your deep insight and penetration of thought.
OZ C. says
Phil YOU NAILED it on this topic.
PHIL, this video is the SIGNAL “TRUTH without a DOUBT!!!”
ELANA SEGER says
Ismaeel Adebayo says
This is a wonderful video from a good mentor. My Question is in a case where i am being paid a good salary and i am not extravagant towards spending, Is there a need for me to leave such a job?
Freedom Mentor says
If you are happy with your job and are paid well why not invest in real estate in your spare time?
hung bu says
woo..i really love this video.. if our job is just over break we lost everything
William Scott says
How can i become a part of the team?
Freedom Mentor says
Consider making application to our Apprentice program!
Derrick Walker says
I really love this video, because bosses will keep people around for years paying the MINIMUM pay possible. Thanks for your insight.
Jodi Wright says
Oh, my God, I am soo I need to get into this program.
Freedom Mentor says
Consider making application to our Apprentice Program.
Oscar Gaitan says
I do agree on half the content. I personally do not feel that your boss is trying to sabotage you, if that is true then you will live as a prisoner of your own thoughts. Think smart about things, is buying a house going to bring a financial burden that will make you work and feel force to slave drive at a job? Could an apartment be a better option? Think about it and weigh your options. A home although not bad, will require money to keep it afloat. Just like a boat, if you don’t fix it, then it will drown eventually; When you purchase a house think about it the same way. Renting has it perks and disadvantages but if you weigh your options and work those other goals, Other than debt, you can have a life where you don’t have to slave a way for a job or boss that you don’t like or be in those situations.
jonah davison says
I am interested in real estate investment and property flipping….I currently work for UPS…8-10 hours a day…yes, I feel like a slave to them…my family and I live below our means…but at this point…it has plateaued…honestly I dread giving them the next 16 years of my life….I understand there are many variables, but does freedom mentor work with folks that currently have a full time job?
Phil Pustejovsky says
All the time
Shaun Hicks says
I wish I had someone like you in my life 20 years ago, starting from disaster, praying it goes well….Divorce and a 2 year old as motivation…
Good stuff Phil as always…
Stacey Sissoko Fitzpatrick says
Hi Phil, thanks for all of your FABULOUS informative videos. Where were you 30 years ago?😄
I’m 59 have 2 properties, no mortgage and need to downsize. Should I keep or should I sell the property with the highest taxes or keep and rent? I’m interested in your training as I have a son and grandchildren to look after. I appreciate your advice.
Shan Navaratnam says
I follow your advise on Proverbs
I have been reading proverbs .one every dsy.Today I will read proverb23 😉
Michael Orta says
Very good common sense stuff – I wish I had listened to this 30 years ago.
Well said Phil so true about most boss. Thanks David
Thank you very much for sharing that beautiful wisdom you are full of knowledge my man
Phil all your vids are good .
Abe Elbakkari says
you have nailed the cause. thank you so much, please continue to share yourmost needed and aperciated wisdom,
Great info. Working for yourself has rewards. It will be tough at first with adjusting & using your own money for investment to start a business.
Phil…thank you so much for this video, you have save me so much time not having to produced one myself,:)
A Lil humor Phil…although I will do my best to assist in viral traffic. Oop!! there goes that humor again.
I love the video.Always great info
I love your video.Always great info.
Mike Gregg says
Phil, you went right to the point and told the truth. The truth will certainly set a person free.
I speak from experience — I fell into this trap at 32 years old. I was lucky that I worked for an awesome company; however, I sacrificed time with family to become successful. Stay true to yourselves, youngsters. Do something that will allow you to have a balanced life!
people NEED to be told what to do they CANNOT function without an employer disciplining them.
Phil Pustejovsky says
Although some people have difficulty being their own boss, some people would make great bosses of themselves but those same people are sometimes seduced into living above their means early in their careers by employers that don’t want to lose them.
Abdalla Grimes says
Great video Phil! Now I know for sure you are the real deal.
I’m looking for somebody like a mentor or somebody can work with me step by step
Phil Pustejovsky says
Apply to my apprentice program here Freedom Mentor Apprentice Program
valentin taubin says
Great stuff, Phil! Thank you
Anand, Madan says
Hi Phil Thanks for this video presentation. I have No Words to Explain how much I like your talents. I am 69 Retired. I consider you my GURU. I learned a lot from your presentations. Thanks keep it up.
Mike Stanton says
Wise advice. Phil looks out for his people. Freedom mentor is the best for advice.