How Bad Financial Decisions Can Be Used To Grow Your Wealth

Published: Aug. 15, 2018, 11 p.m.

b'ARVE Error: Mode: lazyload not available (ARVE Pro not active?), switching to normal mode\\n\\n\\n\\n\\n\\n\\n\\n\\n{"@context":"http:\\\\/\\\\/schema.org\\\\/","@id":"https:\\\\/\\\\/onproperty.com.au\\\\/bad-financial-decisions-grow-wealth\\\\/#arve-youtube-fyz81fniu40659a0b2d31ac4842128885","type":"VideoObject","embedURL":"https:\\\\/\\\\/www.youtube-nocookie.com\\\\/embed\\\\/FyZ81FnIu40?feature=oembed&iv_load_policy=3&modestbranding=1&rel=0&autohide=1&playsinline=0&autoplay=0"}\\n\\n\\n\\n\\n\\nBad financial decisions can hold you back, or they can be a catalyst to push you forward towards even more wealth. What will they be in your life?\\nResources Related To This Episode\\nRich Dad Poor Dad By Robert Kiyosaki\\n\\nIf You Want To Be Rich Focus On This One Thing\\nTranscription:\\nThere comes a time in all of our lives where we make poor financial decisions, but what you do with those financial decisions will determine whether you become richer as a result or whether you become for a as a result. So today\'s episode, I want to talk about some of my poor financial decisions and how they actually led me to create more wealth in my life and hopefully this will encourage you and the way that you approach your setbacks and use them as an actual catapult to move you forward. So Hey, I\'m Ryan from [inaudible] Dot Com dot a U. I help people achieve financial freedom and the idea for this episode came as a result of this skateboard which is behind me. Now. This has recently been painted by my wife who is a fantastic artist bus. As you can see, it is extremely, extremely rusted. This has been outside for quite some time. The bottom is also very destroyed. This skateboard. It means a lot to me.\\n\\nIt is a joy to ride. It has huge sentimental value because it\'s been in my life for over 10 years now. I bought it when I was with my wife before she was my wife. All of my kids had re written on the skateboard and I just love the way that it feels, so what I did was I got my wife to repaint it as you can see and went to the skateboard shop yesterday to try and get some new bearings for it so I could continue to use it as well as some grip tape thinking, you know, might cost me 40 bucks or something like that. My budget isn\'t super tight, but it\'s also not super loosey goosey either. And so went to the skate shop, ended up paying about 80 bucks for bearings and grip tape and then in the end turned out that the old bearings that actually fused onto the truck and we couldn\'t get them off,\\n\\ncouldn\'t get a refund for them, was able to get a credit. But basically it was about $80 down with nothing to show for it. Which kind of punched a hole in our budget this week that we weren\'t expecting. I wasn\'t expected to be $80 down and still not have a skateboard to show for it and to have to invest a couple of hundred dollars to fix this thing if I want. It\'s actually gonna be more expensive to fix it than it is going to be to buy a brand new one. So that was a bit of a setback which made me really, really frustrated yesterday. I just hate it when you invest money into things and it just doesn\'t work out. So spent $80 and basically got nothing for it. My wife had a similar situation where she has to go to a funeral and she purchased a dress for the funeral.\\n\\nShe doesn\'t own a funeral dress and it ended up being the wrong one, but it was on sale so she couldn\'t take it back. So there was another $40. Another mistake we had made in our budget that we couldn\'t really recover from because she couldn\'t return that dress even though it wasn\'t actually. Right. So sometimes you have financial setbacks like this. It might be small financial setbacks like the one that we\'ve had this week where we\'ve just kind of overspent on things that really didn\'t work out or it could have been larger setbacks. I\'ve had businesses in the past that have failed. I\'ve invested thousands of dollars into different projects that never turned out to be anything. I bought domain names for thousand dollars that I had big plans for that neve...'