5 Financial Habits To Do Before 30

But you want to immune confidence and basically say to me with your eyes, "I'm ready to rumble." You want a rock? Bring it on! I can tell right there from the aura, the vibe. You haven't even said a word yet, and I know right there if you're a winner or a loser, and I'm never wrong. You know people smell BS a mile away, so I don't like promoting things I don't use because the Mr. Wonderful name is valuable. I don't put my stamp of approval on just any product.

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But you got to put some, you know, protection. That's why the SPF 20 in the morning is absolutely fantastic. I know, yeah, getting that makeup out, that's what the scrub's for. Check this out—so what we're going to talk about today is really financial habits. Habits everybody's got to do before they're 30. Now these are pretty simple, but I get asked this stuff all the time. All the time!

Number one, this is the top of the hit parade: You gotta stop buying crap that you don't need. And there's a reason for this. Everybody is programmed. Society programs you; advertise this program, you—everybody's programming you to spend money. That's how the whole society works. That's what capital is all about. I mean, you know, the whole idea of consumer goods and services is that you need more of this stuff that you go into credit to buy. This stuff—that's all bad bottom line!

One of the biggest spending items is clothing. You buy so much crap you don't need, and it just sits in the closet for years until you give it to somebody for free. You wasted that dough! And when I say that, it's because if you take that money, and this is like an age-old theme, you take that money and you basically don't save it?! Saving makes you nothing because you get paid nothing in a bank. You invest it!

You're taking this money that you didn't waste by buying another pair of jeans, another pair of sneakers, five-dollar coffee. No! I've said that before—that's a total waste of dough. You start saving like five bucks a day, ten bucks a day, fifty bucks a week; you'd be amazed over your career how much that's worth as it compounds at six, seven, eight percent a year! So that's number one. You absolutely have to be very careful about that. It makes no sense.

Now before I get this going, what you want to do is pay off your credit card debt. I can't tell you how you get screwed on credit card interest. Seventeen, eighteen, nineteen, twenty, twenty-one—don't get sucked into that! Don't let that happen to you. I can't make eighteen in the market and be guaranteed it like a credit card getting it and charging you on your interest. That's why I own all the credit companies' stocks, because they're doing it for me.

But don't let me make money off you—that's dumb! Basically, pay off your credit card debt before you do anything else because it's the best investment you could have. It's such a high interest rate! Alright, now another discipline—and this is an earned attribute. In other words, you have to learn how to do this and stick true to it.

You take ten percent of your paycheck every two weeks, ten percent, whatever it is, after tax, whatever you got, and you stick it into your robo app, the one that's investing automatically for you. It doesn't have to complicate it. Download it from any one of these robo apps right on your phone, set it up to your bank account, where basically your paycheck's often deposited, and take ten—force yourself to do that! That's after you've paid off the credit card debt, right? Because that's the one you're guaranteed to make twenty-one, because you're paying off something that's charging you twenty-one.

You want to do that! And this whole idea of this ten percent is not into the savings account. Yes, you can have some cash around; you need to have some cash generally—ninety days' worth of your living expenses is a nice little safety net in case of catastrophe! But you start investing—you get indexed into the market—that's what it's called. And you get a basket of stocks and it works for you!

Really, really important! These are not complicated things to do. It's the discipline of doing them. It's so hard saving ten every week. Once you get in the groove and you start to watch how your money grows right on your phone—that's interesting, really interesting. Paying off your credit card debt is painful but very important because you know you're getting screwed.

Crap! I've said don't buy crap fifteen times now because I want to drill it in your head—don't buy crap! Don't buy crap! Don't buy crap! Don't buy crap! You don't need crap! Have that little self on your shoulder—I'll go on your shoulder pretend it's me saying, "Don't buy that crap! Don't buy that crap! Don't buy that crap!" You don't need to buy that crap! And that's how you're going to save a ton of money.

Let's talk a little bit about investing in yourself. You know, what does that mean? This might be something that you know you're reluctant to do, but like they say, you got to spend money to make money—it's true! Well, you have to invest in yourself. There's a lot of benefits to investing in yourself as well as many potential ways to invest in yourself.

It's true! Do you have a skill you need to learn, maybe improve, or master? The difference investing in the right tools or classes can make is huge! In other words, you go to school for yourself. You find something you like to do; maybe it's going to be a side hustle; maybe it's something you do at night, but you'll learn about it!

Right now, if you could do digital marketing, that's pretty hot in the economy right now because digital 2.0 is sweeping the nation. All these companies, big and small, are trying to figure out how to sell direct to consumers. Well, those skill sets are understanding the algorithms in social media, photography, video editing, storytelling, web design, digital imagery, animation—all these things used to be, "Oh, that was the purvey of the starving artist." Starving artist? Remember that? They're not starving anymore!

Because it turns out that all of these skills are really important in the new 2.0 America that came out of the pandemic. So these skills can be learned; sometimes just trained, or online lessons, or even go to college at night. These things—college is going to open up this fall. You may want to try this stuff and learn these skills in addition to the job you have—it's like a side hustle. Nothing wrong with it; it can be very, very useful!

That's the whole idea; you know, applying a new skill every few months. You don't really have years to waste, that's why you want to invest now and learn something now. Let me tell you another story I think you're going to find interesting. You know me from Shark Tank, right?

Listen to what I'm saying here. I've been doing it for thirteen years! When those people come in the Shark Tank, they're sitting right in front of me—I should say, standing. They're standing right in front of me, and what you don't know is that at the beginning of their pitch we've got a jib, like a camera that flies in from the sky on this big jib, and there's also a guy on what's called a steadicam which is a camera attached to his body that he can walk around.

And it's got a stabilizing device in it, and that's that famous shot you see of the entrepreneur standing there and then their product behind them. That jib shot and that steadicam shot, they're the setup to the whole presentation. They haven't said a word yet. And the floor director says to them, "Don't say anything, just stand there while we get these shots." Sometimes it takes a minute, sometimes it takes two minutes.

Well let me tell you what I do. I'm right in front of them sitting in that chair and I'm like this: I look them right in the eye. I don't blink. I don't stare away. I just look at them just like this. Don't look away! You can see me do it if you look closely. I don't stop looking.

Why am I doing this? I want to see what happens. And I'll tell you something I've learned: I've done it thousands of times, thousands of times! I can tell right then from the aura, the vibe. You haven't even said a word yet, and I know right there if you're a winner or a loser, and I'm never wrong—ever!

You haven't even said a word yet in your pitch, and I know whether you're going to walk out of there with a million dollars or something or nothing. How do I do that? It's in the eyes! How do you project confidence? It's how you look and how you feel and how you project it right out of your eyes!

You only get one chance in your life to make a first impression, and you have to elude confidence. Even though you're nervous, sure. You're in the Shark Tank for the first time; you're probably sweating bullets, but you want to elude confidence. You want to look right back in the eye, stare right back and basically say to me with your eyes, "I'm ready to rumble. You want a rock? Bring it on!" That's confidence, that's what matters!

You have to do that every day of your life. You're going to have situations for the rest of your life when you walk in a room, and nobody knows who you are. How do you look? How do you feel? How do you project that confidence? That's what it takes. If you like that video, wait! Did you see my next one? Don't forget to click right over here and subscribe!