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How do you win the money game?


Wealth file #2: 
Rich people play the money game to win.
Poor people play the money game to not lose. 

This may sound a little bit the same, "winning and not losing." But in terms of finance, they totally are planets apart. 

Let's take for example the game of basketball. If a team wanted to win the game, they need to play on offense. They need to score. Though defense is a vital strategy needed in the game, no team could ever win on pure defense.

Relating to finance, playing the money game to win is playing on offense and playing the money game to not lose is playing on defense. 

The rich people play the game to win. They have clarity, they have vision and they know exactly what they want to achieve. The poor people however, drift like a leaf on the river, appearing calm, relax and going with the flow, but totally lost and having no sense of direction. 
How to win the money game
How to win the money game
Again, we refer the rich and poor as mindsets, not necessarily income. 

So how do you win the money game? 

Before we answer that question, let's look at some examples of how some Filipinos play the money game to not lose. And try to check if you know these people intimately. 

Pedro: "It is enough for me to be able to eat three times a day."
Juan: "I still have enough money to last until the next paycheck."
Satiango: "I want to have enough money to pay the bills, and on time would be a miracle.!" 
Diego: "Let's party until we drop, anyway paycheck's coming this Saturday."

You see, most of the time their target is just to get comfortable. The sad part is when life starts to throw challenges at these people, oftentimes, it becomes very difficult to stand back up. 

Again, it does not matter how much you earn, everything starts in the mind. And this is how rich people think. These are the steps to win the money game: 

financial stability -> financial security -> financial freedom -> financial abundance. 

1. Financial stability 
The first goal really is to achieve financial stability. Where you start to be living below your means. 

Your active income should be equal to or better yet, lower than your expenses. Stability should be the first goal: increase cash flow, learn budgeting, and eliminate debts

2. Financial security
After achieving stability, we need to be financial secured. Regardless of what financial disaster that comes in our lives, we are prepared. 

Rich people prepare for emergencies, they insure themselves with proper protection and life insurances and prepare for a comfortable retirement by venturing into different types of investments. 


3. Financial freedom
Rich people also think of achieving total financial freedom. Where you are no longer required to work. You work, because you want to, not because you need to. 

To enjoy the best things in life, we need to have time and money freedom. And rich people have that as a target. One of the best formula to achieve this is: 

Passive income > expenses


4. Financial abundance
This is their ultimate goal. To have as much money, not because they need it, but to use it to help other people. We all know that it is in giving that we experience pure joy. 

The ultimate purpose of being rich is to help others. We can't help anyone by being broke. As Bro Bo Sanchez would say: having a goal to be able to eat three times a day is selfish. He wants to have 100 meals a day, only 3 for his family and the rest for those who need it the most. 

So, how are you playing the money game? Do you play to win or play to not lose? 

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