Grant Cardone is the founder of Cardone Acquisitions where he’s accumulated over half a billion dollars worth of investments over the years. He’s also a trainer and helps people achieve financial freedom all around the world.
I first picked up Grant Cardone’s course called “Play Book to Millions” and since then, my view of finances has never been the same again.
One of the most powerful concepts I’ve learnt in his course is “Income is King”.
What Grant Cardone talks about is that most of the time, we focus on cutting down our expenses. We always try to find ways to reduce our expenses by buying cheaper things even if it’s only 20cents cheaper etc. We cut out coupons so we can use them, we look for ways to reduce our utility bills and also our shopping.
Although this is responsible and is recommended, what’s really dangerous is if you’re focusing 100% on reducing your expenses.
I remember in my early 20s, all I could think about was managing my finances and always shredding a couple bucks every month. I felt like I was in control of my finances and I was going to get rich. However I never really got rich, I did save some money and build this powerful habit of managing my finances but I never made that much money.
It wasn’t until I learnt from Grant Cardone that Income is King. Most people would focus 95% of their time on cutting expenses while the next 5% is on increasing income.
This is wrong because rich people focus on it the other way around, 95% of their time on income and the 5% on expenses.
The reason why income is king is that if you look on a financial statement, you’ll see two things. Income and expenses. If you were to look at your own life, you’ll probably see one row of income and multiple rows of expenses.
What Grant Cardone taught me is that notice how that one row of income can decimate your expenses column? That’s how powerful income is. One source of income can take out multiple expenses.
Therefore, the trick is to focus on income and know that income is king. Therefore rich people are always stacking income flows and they simply become richer with less expenses.
Yes they still reduce their expenses but over time, because they have focused on income, they increase it and save it all.
I must admit, since following this simple concept, I’ve definitely increased my income because I’m always focused on improving my income. As a result, I’ve managed to save more and have more money to cover my expenses.
Stay Strong and Be Relentless.