Transcript of Money Is a Video Game, and I’ve Got the Cheat Codes

of the thousands of people I've coached on money the ones who succeed are not always the smartest the most disciplined definitely not the best at spreadsheets they're the ones who made money fun they figured out how to gamify the system so that managing money stopped feeling like less of a chore and more like a video game they couldn't wait to play some people do this naturally but if that's not you I'll show you exactly how to gamify your finances in five simple Steps step one play the right game first think about the best games you've ever played even games you've watched the thing that makes them addictive is that they have clear objectives you know exactly what you need to do to make progress every move has a purpose and every win feels satisfied now look at your disgusting Financial life littered with a bunch of numbers you don't even know what it means what's my next step I don't know what's a savings account I have no idea how much money do I make what's that does it feel like you have a clear purpose or next step or does it feel like you're just guessing and hoping a lot of people just pluck a savings number from thin air based on their gut instinct of what's enough and then they go the rest of their lives feeling bad about money that's not a strategy that sucks that's aimless and it's definitely not fun step number one in gamifying your financial life is identifying your win condition the dream version of your life made possible by money I call this identifying your rich life imagine walking into your boss's office and saying I'm done because you saved enough to start your own business or taking your parents on a dream vacation paid in full every year or maybe it's being able to afford raising children in your hometown where you're close to family your rich life is personal to you and once you get clear about it you define it everything changes your money suddenly has a purpose it's not a burden it's a tool so you can live your rich life every dollar you save every debt you pay off represents progress towards that ultimate goal so here's what I want you to do take out your phone and set a 10minute timer picture your ideal day 5 years from now what is your morning look like who are you with what room are you in now write down three specific ways that money could help you live that life step two set Milestone goals you know most people approach money like one huge battle grinding for years hoping they'll magically hit their financial goal it's no wonder they quit the best games keep you hooked with many victories along the way so do the same for your financial Life by breaking these huge goals into smaller Milestones you want to start your own business build a $10,000 Runway fund first saving for retirement set a goal to max out your Roth IRA contributions this year you want to live debt free okay make a plan to pay pay off your highest interest credit card within 6 months so instead of thinking I need to save a million dollar to get where I need to go you break your rich life into smaller meaningful Milestones that give you an almost addictive sense of progress like completing a level in a game and the more progress you see the more motivated you will be to keep going pick one of your big financial goals it could be saving for a trip to Spain it could be paying off your credit card debt what I want you to do is write down three Milestones that you can realistically hit in the next 3 6 and 12 months and don't forget to plan a reward for each win because progress should feel good making progress is great but losing progress is not and that is where automating your finances becomes crucial next up I'm going to show you how to autosave your financial progress but first you know what else feels amazing knowing that your personal information is not being shared all over the web most of the personal data you share in your day-to-day lives for example when you're visiting a website shopping at a grocery store using a mobile phone posting on a forum is often harvested and sold by Third parties for profit by data Brokers unfortunately data Brokers usually can't control how the data they share or sell ends up being used by Third parties if you don't believe me Google your name and City you're going to find your name phone number address family members name and more this is a huge violation of your privacy and it can be really overwhelming to fix this yourself thankfully our partners at delete me can help delete me is a subscription service that will remove your personal information that's being sold online by data Brokers here's how it works you sign up and submit your information for removal delete me experts search for and start removing your personal information 7 days from now you'll receive a detailed delete me report and look at this it even shows you what data each broker has of you like your name past addresses relatives names property value court records then delete me continues to scan and remove your personal information regularly all year long this is a service I personally use and love and I even bought a subscription for my parents so if you want to get your personal information remove from search results on the web go to join delet me.com for 20% off a plan for you or your entire family you can also click the link in the description below now let's move on to the third gamification tactic step three turn on autosave see most games have an autosave feature so your progress is saved in the background and you don't need to worry about it your financial life should actually work the same way automating your finances is how you activate autosave for your money keeps your progress intact no matter what it is is the guarantee that you'll never go back to square one and I know that life gets messy work deadlines pile up emergencies happen it is incredibly easy to spend money if your paycheck hits your checking account and the money is just sitting there but let's say instead you're automatically contributing 5% into your 401k before you even see your paycheck and let's also say you have a direct deposit sending a percentage of that paycheck to your Roth IRA and to your savings account the minute the money hits your checking account suddenly your progress is being saved effortlessly in the background and you can focus on living your rich life so here's what I want you to do automate your Investments so you build true wealth without doing anything take some of your money and max out your contribution to a 401k if you have an employer match that's free money then if you still have money left over put it in any other retirement account such as a raw Ira when you invest that money it will turn into huge amounts down the road now before we move on to the next gamification tactic hit that checkpoint subscribe button and turn on notifications now step four prepare for the final boss this isn't just another level it is the fight would you walk into the hardest fight of your life with no weapons no armor no plan that's what a lot of people do with retirement they wait they figure it out later and then later comes and it's too late instead of waking up when they want taking month-long vacations never worrying about tipping generously a lot of people have to continue grinding at work and wondering if they can afford a nice dinner out I want you to know that time is your biggest weapon here I'm going to show you some real numbers if you start investing $500 a month at the age of 25 with a conservative 7% annual return you could have over $1.2 Million by the time you retire at 65 but if you wait just 10 years until the age of 35 to start investing you will have less than half of that wait five more years until age 40 you wouldn't even get to $400,000 every dollar you invest grows more than you can possibly imagine over time thanks to compound interest turning small consistent contributions into massive results so here's what I want you to do if you haven't started investing yet open up a Roth IRA today it takes like 30 minutes if you're already inv in bump up your 401k or Roth IRA contributions by 1% this week small moves today give you huge wins later and if you want to have a full picture of how these investing accounts work get my book I will teach you to be rich which will show you how all of these accounts work together and exactly how much money you will have but even if you master investing automate your savings and set yourself up for a rich life there's one thing that can still mess it all up your relationships step five discover co-op mode too many couples approach money like a solo game grinding away in their own Financial worlds unintentionally sabotaging each other one of you saves aggressively the other feels deprived you're both frustrated does this sound familiar this doesn't just cause stress it keeps you from winning together just like in a co-op game financial success as a couple is about sinking up dividing tasks and celebrating wins as a te here's how to gamify your financial relationship number one have regular money dates sit down once a month to discuss your goals progress and any challenges keep it light keep it productive this is about alignment not arguments step two divide responsibilities if you love spreadsheets you can track some of the spending if your partner is Bigg or picture they can focus on planning for the entire year maybe planning the upcoming trip three celebrate wedes together if you hit a big milestone celebrate hit a small Milestone also celebrate maybe it's a fun night out maybe it's a weekend getaway maybe it's just a high five and a big hug rewards make the process enjoyable and they strengthen your connection so here's what I want you to do schedule your first money date this week talk about your partner's rich life goals and brainstorm how you can combine them with yours into a shared vision of a rich life this is just a the tip of the iceberg when it comes to setting up a healthy Financial relationship as a couple that is why I spent the last two plus years writing money for couples where I give you the tools scripts and strategies you need to build your rich life together if you'd like to check it out click the link in the description below and then check out this video next