“Three Fundamental Principles of Personal Finance” with Alan Lazaros
"I believe that personal finance comes down to three main fundamentals which include Learning how to earn more money, learning how to spend less money, and learning how to invest money intelligently” - Alan Lazaros
Today we welcome a special guest to the podcast, Alan Lazarus. Alan is the founder and co-host of Next Level University, which is a global, top 100 self-improvement podcast, and they're now approaching 900 episodes. They reach over half a million people in more than 120 countries.
Allen holds a Bachelor of Science in Computer Engineering and a Masters in Business Administration. He's a professional speaker and business coach and consultant specializing in helping businesses maximize their growth, impact and profitability online. He's inspiring, motivating, and educating others on what it really takes to get to the next level.
In today’s episode, Alan will be discussing personal finance and how people can achieve better financial outcomes in their lives.
- My mom gave me the best lesson that I'd ever heard which was, aim high, and you'll have choices.
- At 26 years I got an accident which messed me up mentally, emotionally and spiritually and had me contemplating my life and my choices.
- Now I've got this North Star that I wear around my neck which is my guide.
- You can't see the stars during the day even though they’re always there, but sometimes it takes the darkness to see clearly that which you simply could not see within the light.
- I was contemplating my life, and I saw two stars I'd never seen before, Tony Robbins’ TED Talk and Bronnie Ware’s book called ‘The Top Five Regrets of the Dying.’
- That’s how I got into business coaching and consulting and what fulfills me now is maximizing my own potential, helping others do the same, and helping them improve the quality of their life.
- You’re not going to be fulfilled if you're if you're chasing the dreams of other people.
- I help people improve their physical, mental, emotional, and spiritual health.
- I believe that personal finance comes down to three main fundamentals which include learning how to earn more money, learning how to spend less money, and learning how to invest money intelligently.
- One of the reasons why I think people struggle so much to be successful in every area is because they're thinking linearly in an exponential world.
- 1% growth can compound like crazy and if you don't understand that, you're not going to make decisions that are long term.
- You can play now and pay later, or you can pay now and play later.
- You get paid in proportion to the difficulty of the problems you solve because your intrinsic value is different than your economic value.
- To earn more money, the first facet is you should learn how to do the things that the world desperately needs.
- The second facet of earning more money is working to be good at what you do in statistical comparison to other people in your field.
- The third facet of earning money is positioning yourself in such a manner that it will be difficult to replace you.