Real estate investor Grant Cardone built a multi-billion-dollar real estate portfolio with leverage, hard work, connections, and other essentials. However, he recently discussed his relationship with money, and it offers a clear perspective into Cardone’s success. He doesn’t put it up on the altar, but Cardone takes money very seriously and encourages others to do the same.
“The way you treat money is how the money’s going to treat you,” he explained.
Your mentality toward money affects your income, investments, expenses, and every other part of your life that money touches. Here’s how you can strengthen your relationship with money so you can boost your income and net worth.
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Respect Money But Don’t Let It Consume You
Cardone accumulates money and puts it into real estate because he wants the money to multiply. While he spends money as well, he makes it a point to spend money on tax write-offs. His shirts have his company’s branding on them, so when he buys those shirts, he gets to write them off.
If you get deep into credit card debt, you are letting money consume you. The deeper you get into debt, the more difficult it becomes to claw your way out. Interest payments accumulate quickly, and while some debt can be good, credit card debt never qualifies as good debt. The interest rates are too high.
Cardone also views financial success as one facet of a successful life. He also commits to his family, exercise, spirituality, and other areas of his life. There’s more to Cardone than being wealthy and increasing his net worth. Some people who are successful financially get divorced because they prioritize money above everything else. That’s another example of letting money consume you, which Cardone advises against.
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The Most Important Money Cardone Ever Made
The conversation eventually shifted to Cardone’s work as a car salesman. The job had long hours, and he dealt with plenty of rejection. You have to get on the phone a lot to be a successful car salesman, and long hours don’t necessarily equate to success.
Cardone despised the job, but it was one of the few opportunities open to him at the time. That job set up Cardone for a successful sales career and a real estate empire, and he explains that making his first $1,000 at the company set him on his current path.
Cardone realized that he was in control of his money and income growth the moment he made $1,000 and then jumped to $2,000 and $3,000 per month. He used that momentum to excel as a salesperson, seek new opportunities, and claim control over his finances.
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You Are In Control Of Your Income
Cardone’s last message about controlling your income explains why he’s become successful, but it also offers a valuable insight for viewers. When you put yourself in the driver’s seat, you give yourself more options.
People can pursue side hustles, ask for raises, job hop, or start a business to boost their income. You don’t have to stay in one place forever or let one person dictate how much you earn.
Developing new skills and meeting new people can lead to a higher income. However, your relationship with money plays a key role in how successful you are with those actions. If you are firmly committed to good money habits like keeping expenses low and investing most of your paycheck, you will put yourself in a better position to increase your income.
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