Speaker 1: 0:03

Cheshire here. Sorry, let me just pull out here. People on a bike has a deaf wish. Luckily I missed them. Okay, I've just been to try and pick up a parcel and it wasn't there. A little bit frustrating, but it's all good. Had a nice little drive, I get to drive back.

Speaker 1: 0:40

So I was just thinking really about the podcast and specifically how to help people, how to give people the best advice possible, how to provide the best and maximum amount of value, the maximum amount of impact, the maximum amount of impact, the maximum amount of assistance. I was sort of thinking, well, like it's okay, kind of like focusing on like the end goal. You know, you know, typically most people they want freedom, they want freedom or freedom right on freedom, or they want my financial freedom or on time freedom, or you know like it's like freedom is really high in people's agenda. You know, like people want to express themselves on on this world as well, and obviously all those things are fantastic and great and good. But like, what do you do when you, what do you do when you, when you're so far away from that? Like what do you do when you, when you, when you don't see a way how that could even ever be possible.

Speaker 1: 2:13

I guess it's obviously just drawing on my past experience which I've had. You know they have a a situation where, essentially, I was homeless, I was sleeping out of my car luckily I had a car sleeping out of ends meet and having that situation where you get paid and then you already know the calculations, the maths already doesn't work. You get paid, you come out of your overdraft, but then when you think about your rent and just like you know like eating, you know like it's, you know like obviously I was in a situation where I had to use, I had to use my money in order to get a place. It's like red plus deposit, plus food, equaled already in my overdraft again, and that didn't account for petrol to drive around or just literally anything other than staying alive so that I could continue to work. And I feel like someone who's in that position. It's really difficult to shoot for the stars and to dream about owning your own company and working for yourself, especially as often taking that step and not a lot of people know this or don't think about it, but often you take a financial haircut when you go and start your own business or do your own thing. Often you leave in a job which is providing relative security and setting off on your own, do your own thing, and often your money drops right.

Speaker 1: 4:23

So what it? What it? What it makes me think of is, essentially, I think, people in that scenario, people who are stuck in the mud, people who really are like backs against the wall. They maybe need to take it down a little bit and I like I don't want to, I don't want to tell anybody to, to not dream big, but it is.

Speaker 1: 4:50

It's definitely a process and, um, it makes me think of, uh, maslow's hierarchy of needs, and you'll forgive me for not maybe not knowing them, not knowing them exactly, but I know the first one is basically like just basic human needs, like food and water and a home. So it's like if somebody's in a position where those things are threatened and they're in a very real situation where they could go hungry at night or they don't have a place to stay or anything like that, then it's almost impossible to dream bigger and to reach the highest stages of self-actualization without without sorting out those basic needs first, you know. So I think from memory, something like the first one is like food or like physiological needs. Then the second one is in security. Okay, so feeling safe and, again, like you know, even just looking at it from like a financial perspective, right. So, okay, let's look at this from from from finances, um, from work and career, okay. So we're not even talking about just like basic, like survival. You know survival needs and if someone is in that position, that should be their only focus is get their basic needs met, because then they've got that foundation in order to step it up and go for the next one of the of the hierarchy of needs, okay.

Speaker 1: 6:31

So I think, from memory, it's physiological needs like food and water, roof of the head, then I think it's security and I feel that safety and that what you have isn't gonna be so taken from you. Then I believe it's love and belonging and in a family, and you know, having that, having those people that understand you or have your back or you know, and where love can flow to and from you, okay, and that connectedness, having that base, if that makes sense, that sort of familial base. Obviously friends can take the place of all family, you know, if needed, but having that is important. And then I believe the next stage is like social esteem, self-esteem, that kind of community sense of belonging, that, the ability to look yourself in the mirror and to feel that you are bringing value to, I guess, a wider network of people. And then finally, at the top, there's like self-actualization, which is how are you expressing yourself onto the world, how are you flowering, how are you blossoming into this thing that we call life? What gift are you giving to the world? And I guess, to take it one step further, although I'm not sure it's necessarily in the hierarchy of needs, but after self-actualization, I guess you could technically transcend and, I guess, gain, enlightenment, depending on what sort of philosophies you ascribe to.

Speaker 1: 8:34

Reaching Nevada or obtaining Buddhahood would be a form of transcending the hierarchy of needs. But it's a pyramid and each one needs to be set, each one needs its foundations in order to step on to the next rung. So, coming back to kind of career, finances business, which is, I think, on a lot of people's minds in that first instance is making sure like, okay, am I bringing in enough money to be able to fulfill my basic needs as a human being? I need to eat, I need somewhere to sleep, you know, and if the answer is no and I've been there where the answer is no, then the only thing that should be on a person's mind is how much do I need in order to fulfill that and what can I do in order to get that? You know, and it's like all the other considerations need to be thrown out the window. They can be handled later.

Speaker 1: 9:55

Yeah, this, like, if you're at that position, now is not the time to be, um, to be, to be socializing, to be spending on vices such as alcohol, cigarettes, gambling. Now is not the time to be planning holidays or anything like that. Actually, now is not even the time to be paying off debts and servicing debt, because you can't eat, you don't have a roof over your head. So those need to be the be all and end all in order for you to get to a position where you can then go. Okay, so that is sorted. I now have a roof over my head, I can eat, I can go to bed with a full stomach and I'm not gonna die first. Okay, my physiological needs are met. Okay, what's next? Apologies, just doing a little. Someone's really wanting to get past me. Go on then, mate. There you go. Oh dear. Obviously, obviously, that person was in a rush. All right, cool, so OK. So first rung of the ladder is done. What next? Next?

Speaker 1: 11:29

We need to talk about security, okay. So it's no good dreaming of changing the world and being a multi-millionaire and all these things if, in actual fact, every night, you go to bed being a multi-millionaire and all these things. If, in actual fact, every night, you go to bed and you worry about um, you know you're worried about debt or you're worried about um. You know, like, is my job even secure? Or you worry about having enough hours, um, to be able to go to work, um. Or you know, like, if there are kind of worries and fears around the security and your position in terms of wealth, then those things will undermine Any and all attempts of growth. You know, I'll bring in the law of attraction Briefly here as well Thought tell good, mind, produce after kind like, begets, like. So if those worries persist about security, it's going to self-perpetuate and they're going to bring more of essentially what you already have, which is insecurity. So that which is insecurity, okay. So that needs to be solved.

Speaker 1: 12:57

That needs to be the main focus of getting that security, getting that comfort level, getting that buffer and there are lots of stats in this in terms of like how much people have saved and all that sort of stuff. Most people are living from wage to wage, so they get paid an average weekly or on the schedule and that is the money that they use for the upcoming period, and it normally lasts right until the end, until they get paid again, and then suddenly that then reloads. They're not saving, they're not looking after their future security, okay. So, and there are lots of small things you can do in terms of, like you know, saving, like you know, I think like 20% is really what people need to be saving. But like that as a figure, if you really are down in that level, is ridiculous, like full disclosure. Trying to save 20% or anywhere close to that if you're living wage to wage, paycheck to paycheck, even considering saving 20% is madness. But again, it's about starting from where you are. So, even if it's saving £5 or £10, you know like, start doing that, stop stop putting that away. You know most people could at least save 20, uh, uh, 10. Okay, and that 10 might have to come with some sacrifices as well.

Speaker 1: 14:44

I mean, I think if everyone's honest with themselves, um, a lot of you know, a lot is spent on things which potentially, um, are luxurious items, maybe don't need to be spent. You know it's like can, can you go without that one extra takeaway a month? Um, oh, that's like 20, 20 quid right there. Um, you know, even with things like shopping, building in time into the equation, can you, can you go without, uh, or or can you build in time into into each negative purchase? So, okay, I really want, um, I don't know this new, the new pair of trainers. Yes, okay, great stuff. I'd actually, you know, maybe I do need some new trainers, but can I delay this until next month? Actually, will I be okay? Oh, yeah, okay, well, the trainers I'm currently wearing will definitely last me for next month.

Speaker 1: 15:42

And you're building in that delay and then that money that you would have spent on those trainers in the past in terms of being a bit more impetuous with your spending, that money can then be saved. Okay, it's there if it's needed, but you're building the habit, you're building up that sort of saving muscle and the discipline muscle as well, to be able to suppress the need for gratification immediately in favour of your future security, and the aim that I would advise anyone to do is to build up three months worth of wealth. So you need to be three months wealthy and so wealth. If I was just like to stop and define that a little bit, because everyone talks about wealth and how they want to be wealthy, to me wealth is how long you can survive without working. So if you're literally down to walls, quit, didn't go to work, didn't do anything to bring in any money, how long will you be able to survive?

Speaker 1: 17:02

And obviously this is where things like passive income do come into the equation, because with passive income you can literally down tools, do nothing, and money is still coming in. But if you're in, you know, this situation where you, where you literally having to start from ground zero, you're building up the that sort of hierarchy of needs, chances are you don't have any passive income. So you know like you need to be thinking about it in terms of if you stop trading your time with your life force for money in a job, your life force for money in a job, how long can you survive? So obviously the equation is simple and just to keep the math simple for this, let's say you know, you see, I don't all your expenses. Let's say the expenses are a thousand pounds. Just gonna keep the math very, very simple that in order to be three months wealthy, you would need three thousand pounds to save them.

Speaker 1: 17:57

Okay, so that in my you know, in my, in my opinion like to, in order to tick off that security and a lighter move up the hierarchy of needs, three months wealth is, is, is wealth is where you need to be and, to be fair, that actually feeds on into the next one as well, so that the need for that familial love and to feel that and to feel that belonging and to feel that sense of place with your loved ones, it's really hard to think positively when, especially if you're a provider for your family, if you're worried that your family is at risk and you're worried that you know economic downturns can put your family at risk. If you lose your job, that could put your family at risk, or you know anything happens, or you know, like, like you know, hopefully it doesn't happen again, but you know pandemics and all sorts like, but having that buffer, having that comfort level, allows you to feel a lot more security and it also allows you to know that you have your family's back as well. So then, once you've kind of, I guess, reached those stage, now actually we're in a position where we can start to look forward and we can actually start to dedicate more mind power, more mind space and more thoughts to growth. So those next two on the hierarchy of needs, that sort of self-esteem and the self-actualualization those two can almost go hand in hand, okay. So self-esteem, let's say, um, as an example, you know you're working in a job that you don't like or anything like that.

Speaker 1: 20:11

My first thought, or my, my first advice that I would give someone in that position, is there any way that you can turn that job into something which is going to boost your self-esteem? Yeah, is there any way of looking at it differently, reframing it? Could you go for a promotion? Could you? You know, is there any kind of extra responsibility that you can take on which would give you more pay? Being a key holder, or going from a team member to a supervisor, or supervisor to manager, or manager to area manager? Can you let those people above you know that you can be counted on and that you want to grow and you want to improve? There's any courses that you can do to improve your chances of that?

Speaker 1: 21:03

And really, just you know, like obviously you know, if you're feeling trapped, it's really tempting to cast eyes outside and say, oh, I sure wish to be doing something else, I sure wish to not have to do this. But when you're looking at it from the perspective of the hierarchy of needs, the job you have right now is an absolute privilege, because you're not trapped there. There you get to experience the joy of providing for your basic needs, providing for your security and providing for your family. Like that's a privilege that you get to enjoy in your current position. And reframing it into the positive and then doing what you can in order to increase the amount that you get from it, whether that's the amount that you get in terms of the self esteem, respect, authority, or the amount that you get for it in terms of monetary remuneration. That would be the first stage. I would look. The second stage would be okay.

Speaker 1: 22:20

Well, like you know, is there any way of sacrificing, um, a few hours of the week? Yeah, I'm not even talking about a few hours a day, a few hours a week, a handful of hours a week, you know, three to five hours, three to six hours out of each week. Almost everybody can do that, yeah, so, like, use that, use that time, um, essentially to start a side hustle. You know, and it's like you know, in the first instance, it could literally be as simple as brainstorming all the ways that you can bring in. So you know, essentially, like, think about, think about your wage, yeah. So again, let's keep it simple. Let's say it's a thousand pounds a month, okay, so brainstorm all the ways that you could raise £1,000. Not £1,000 a month, just brainstorm all the ways that you could raise £1,000.

Speaker 1: 23:20

Okay, actually, I've got some old stuff in the garage or the cellar or the basement or whatever. I don't really use that anymore. I could sell that on eBay or Vintage, sell some more clothes, all right, cool, so write that down. What else could I do? I could, depending on your age if you're younger, could you offer babysitting services, car-walking services, dog-walking services. I could maybe get a second job. I could maybe start an e-commerce business or I can maybe do some affiliate marketing. Okay, so I can find somebody else's products, somebody out of another business that has a product which is tried and tested, that people already enjoy, and I can learn how to sell their products in order to get a commission from them. I could join a multi-level network marketing company where they're going to train me in order to start my own business within a business.

Speaker 1: 24:27

All these things, just again, getting it out there, it becomes possible. It becomes possible the more that you see it, you'll start to believe actually, there are lots of ways that you can make money. Well, let's start with this. Well, first of all, let's start with the easy ones. Let's let's actually sell some additional Detritus that we've got built up inside our house. It will clear up the clutter and also make them make a bit of extra money. We'll also learn how sites like eBay actually works. If we do go down the e-commerce route, we're actually building a skill set there as well.

Speaker 1: 25:03

So suddenly, you start to then believe that you can bring in extra money. You actually do bring in extra money and obviously, ideally, you want to be saving as much as possible. But this is where you know the earlier, you know trying to save 20%, which before, uh, suddenly, like how? You know, like how is this possible? Suddenly, by working step by step on the needs and you know, maybe not running before you can walk. Suddenly you are in a position where you know you're bringing in the extra thousand pounds. Maybe it takes you three months, you know, but when you do it.

Speaker 1: 25:44

Number one one. I go wow, I'm like, you know, celebrate. You know, all right, 20% of it, I'm gonna put that away. So 200 quid is going to my savings. Fantastic, it's taken me three months to bring the next 800 pounds. You know what? I love my family so much. I'm gonna take them to Alton Towers. You know my car needs a service service. I've been putting that off those. Those trainers that I thought about earlier. You know what I'm gonna. I'm gonna buy that. I've got 250 pounds left over. You know what? I'm gonna put that in the savings as well.

Speaker 1: 26:23

Yeah, and then you go again. You know, can I raise another thousand pounds? But this time can I do it in under three months? Can I? Can I beat the time that it took me to raise a thousand pounds? Yeah, you know. And suddenly you know again if you're doing this by way of a side hustle or by way of a business. Whatever way you're doing it, that practice effect you get better and better and better. In terms of that it does that. It's a higher need. Yeah, once, once you're at the stage when your own belief in yourself, you know, you look yourself in the mirror and you know that you are safe, you know that your family's safe and you, you have that belief in yourself that, if you needed to, you can raise extra funds to, to enjoy yourself, to do what you want, to increase your wealth even further. Maybe you don't want to be three months wealthy, maybe you want to be six months wealthy. Yeah, that's a really high ideal, yeah, but how do you want to do that? Okay, well, you know again. Maybe go back to the table, maybe brainstorm.

Speaker 1: 27:46

What skills do you have? What can you bring to the world? Do you have artistic flair, talent? Are you a great orator? Can you move people? Do you have the gift of the gab? Yeah, you can speak to people. You can convince people. Are you good with your hands? What is it that you could use in terms of your skills, in terms of what you are naturally capable of doing, in order to fuel and push your bid?

Speaker 1: 28:19

For you know again, in this instance we're talking about financial wealth and financial security and financial freedom. Link those Together in the best way possible. So make your side also. Make that hobby linked to something that can pay. Yeah, people spending an inordinate amount of time and money on hobbies like that that just take money. You know, and let's say, you have this arts and craft or anything like that. It's a hobby, it costs, yeah, uh, let's say shopping. Yeah, you like, you like buying things, you like shopping. Okay, it's a hobby, it costs. How can you link that hobby with something which which pays? You like shopping. Okay, can you create an e-commerce experience? Or can you buy with the intention of can you buy so well that you buy so low that you can then sell for higher prices and you get to scratch the itch of buying so that you can sell?

Speaker 1: 29:25

Yeah, suddenly, your hobby, that passion that you have, you know you're a trainer, you like sneakers. Okay, can you buy limited edition sneakers at the best prices and can you resell them? Or can you help other people that like to buy trainers choose which ones are the best ones? Because, using your knowledge, you can create a website where you can speak about the trainers in such a way that you can inspire other people who also have the same passion as you. Suddenly you're mixing your, your passion, with your vocation. You mix in your side hustle with a way of generating more income, and you're still taking care of the day to day, you're still taking yourself to work, but suddenly you'll find that you get better and better and better at your side hustle, at your quote, unquote hobby. Suddenly your hobby starts to pay you. You don't have to pay your hobby to live anymore. Your hobby is paying you.

Speaker 1: 30:40

And if you're doing it in the right way, in such a way that you are either making sure that you are looking after your self-esteem in terms of your value. So just a note on this a lot of people, especially if it's something which they're good at, it's a hobby, it's something that they would do for free. They don't value it high enough, something that they would do for free. They don't value it high enough, okay, so again, referencing back to Maslow's hierarchy of needs, that's self-esteem. You need to be able to look yourself in the mirror and know that you have value, know that you have worth and know that what you are doing, how you are expressing yourself into the world, whatever it is, even if it's something you would do for free, if it's providing value to other people, do yourself a favour and make sure that you are charging appropriate value to the gift that you are giving to the world.

Speaker 1: 31:45

You know, and I guess at this stage, at this stage you know freedom is in. Well, freedom is already achieved, right, if you, if you manage to crawl out of the mire and you managed to create a scenario where you can express yourself in your unique way into the world and actually have people pay you for that. You know, again, just referencing just that for financial freedom, then you've made it. Really, it's just a case of rinse and repeat. It's a case of staying in there, it's a case of having the sticking power to get better and better, but that as a concept. You know. Obviously I've referenced financial freedom, but that same concept can be used for any type of freedom, really any type of self-actualisation, taking it step by step and working from where you are. I really, really hope that this helps.