 Sometime last year, I was having a conversation with a friend who works for the federal government of my country. In his opinion, his life will be better if he could only earn the kind of money his boss at work earns. I knew that his life wouldn't be any better because I was earning far more than the amount he dreamt of earning and I know it will be super easy for him to waste even the kind of money I make. To show how right I was, a few months after a conversation, this friend came to me to tell me about this great business he wanted to do, which he needed capital for. Guess what? The amount of money he needed to become rich in his new found opportunity was equivalent to his three month salary. Okay, here is where I'm going. This guy has been working for more than a decade and doesn't have savings equivalent to his three month salary. This made him unable to pursue the opportunity he claimed to have found. Then you might ask me, so why don't you give your friend a loan? Well, what I know about my friend's ability to manage money is very terrible. My friend has a track record of spending the money he doesn't have, so I will be stupid to give a loan to someone so stupid about money that he spends all he earns and there is a lot to think about here. Here's the thing. Money attracts money. The guy who has $1,000 as savings has a better chance of attracting a $5,000 opportunity and the man who has nothing. The man who has massive consumer debt is far less likely to attract money to his life and the man who has some savings. The problem of managing money. While everyone in the world goes around thinking that they need to make more money, the real problem of the world is that most people don't know how to manage money. If more people learn how to manage money, more people will be rich because money follows money. Imagine what I told you about my friend. Because he believes that he is not earning enough, he then spends everything he earns on phones, parties and other useless things. If he had learned to keep only 5% of his income when the opportunity came to him, he would have had enough money to pursue such an opportunity and that might end up making him richer. That's how money follows money. The $100, $1,000 or $5,000 in your savings is a bait. This bait could catch a big fish anytime but if you don't have that bait already, the fish of opportunity will simply pass you by. You think about it. Why did the rich get richer? The rich get richer because they have big baits that can catch big fishes anytime they find them. While you may not be able to save $100,000 in your savings account, you can have $100, then $500, then $5,000. The primary problem of money is not how to make more, it is how to manage it because money attracts money, just as bait attracts fishes. Preparing yourself for the opportunities. Many years ago, I read a quotation from Abraham Lincoln which goes like, I'll prepare myself and one day my opportunity will come. I loved this quote and believed it for 8 years. For 8 years, I was preparing myself for an opportunity to become rich and one day, my opportunity came. And it's all because I knew how to manage money. First, I was willing to live like a slave to save as much money as I could out of whatever I made and to reinvest everything into my business. Because of my ability to manage money, I got other people to trust me and invest in me. You see, there is much money in the world and people will invest their hard earned money on you if you have a track record of financial literacy. How in the world do you think any reasonable person will drop their money to support your dream when they know that you spend all the money you make? How could I invest my money in a guy who uses an expensive phone he can't afford? How could I invest in a guy who drives a car he can't afford? How could I invest $10,000 in your idea if you don't have $1000 as savings? It's common sense. Money attracts money. Your ability to manage money makes you attractive to more money. Your ability to make sacrifices makes other people want to make sacrifices for you. Fall in love with assets In the next few hours, I will be at my company's office. I love that environment because it's the reality of my past dreams. For over a decade, I have always dreamed of building my own company. That's where my love lies. That's where my heart is. That's my life's priority. To build a company that employs hundreds of people. The rich manage their money by loving assets and here's what I mean. Most people love liabilities. Go out today and give $100,000 to 10 adults and visit their homes next month. What do you think you will see? Well, seven of them would have new cars and two of them would have new and bigger homes. Only one of them would still have the same standard of living he had before the money came. The reason for this is because liabilities are the dreams of most people. For most people, the primary reason they want to be rich is to have fast cars, big homes and Rolex watches. The rich love assets. Those who become wealthy are those who love to see their assets grow. And as the law of nature dictates, every man spends his money where his heart leaves. George S. Clayson wrote in The Richest Man in Babylon, Whatever every man considers as necessary expenses always grows to meet his income. In other words, you spend your money where your love lies. If you genuinely want to be rich, you have to fall in love with assets. You have to love assets as much as other people love liabilities. You must be as happy seeing your savings grow as other people are happy buying new phones. You must be as excited to invest your money as other people are in spending theirs. Educate yourself about investing. When I was young, I always saw my brother investing in stocks. I thought he was a smart guy until 2008 when all the companies invested in started crumbling. I later realized that my brother didn't know anything about stock investing. He probably had never read a single book about stock, perhaps not even a single blog post. While this is funny, it's true. Most people don't save any part of their income. Some who save are too lazy to learn how to invest their money. The rich learn, learn and learn. I know more about my industry than most people am competing with. Because I know more than 99.9%, I can make better decisions than them and as a result make more money than them. Don't be lazy. Learn, read, study and understand what most people don't about whatever thing you want to invest in. I can go on and on with this video but to summarize everything I've been saying in a few words, learning how to manage money is the primary step to being rich because money is like the multiplication table. Zero multiplied by anything is still zero. If you don't keep money, you can't attract more money. You also have to read, learn and know about whatever business or company you want to invest far more than most people. Efficiently managing money is like having a bait. Bait attracts fishes and that's why the people who know how to manage money make more money. If you like this video, don't forget to share it with your friends. We love you.