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<aside> <img src="/icons/thought_gray.svg" alt="/icons/thought_gray.svg" width="40px" /> Why entrepreneurs should stop worrying about saving money instead of making it.

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Notes & Research

Notes

• Money is like water for a plant. The plant is your goal.
• Focus on making more money, not saving more money.
• Hire assistants and specialists to delegate time consuming tasks you can teach.
• It’s smart to have a 6 month runway as well as an emergency fund, but every other penny should be reinvested. Not put in a low interest savings account.

Research

• None

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Saving money is stupid. Money is a tool to get what you want, so why not focus on making money instead of saving it?

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Why Saving Money is Stupid

Written 12/7/22

Attention Grabber (5 Second Hook)

Saving money is stupid. And before you raise your pitchforks, let me explain.

Part 1 (Identify)

There is a time and place for when putting money away is actually useful.

But you should never mindlessly save huge portions of your income simply because it’s what we were taught was “responsible”.

Instead, try looking at money from a completely different perspective.

Part 2 (Diagnose)

Imagine water was money.

We use water to drink, to hydrate livestock, grow crops, clean ourselves, and so many more things.

Wouldn’t it be kind of stupid to store tons of water without any intention behind it when you could be using it to do any of these other things?

Money is no different. It’s a tool we use to do many different things.

So Instead of focusing on saving money, consider focusing on making money instead.

Part 3 (Prescribe)

Let me clarify that everyone should have least 6 months of runway minimum saved.

You should also have at least $1,000 saved for an emergency as well, or a credit card.

But after that, you should invest the rest of your residual income. Whether it be an S&P fund, or your own business, whatever.

Conclusion

If there is one key detail I want you to take from what I am saying, it’s that money is a tool.

We use it to get what we want, so figure out what you really want and come up with a strategy that uses money to get it.

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