Why Elephant’s Paycheck?
Is it about helping people save for their future? For retirement?
Helping people to invest?
Actually, yes. It is something else.
It’s about building wealth.
If you think of our relationship with money, I bet you’d come up with the following list of things to do.
- Get a job.
- Manage to a budget.
- Save for the future (childrens’ education, a home), for emergencies, and for fun stuff like vacations.
Here’s the thing… The list above requires movement to bring improvements in your economic situation. As long as you are employed and as long as you have an income that rises faster than inflation you’re fine. There are two big problems with those “requirements”. Employment & stagnant wages.
More simply, that list above is about income on one side of your financial equation and spending on the other.
It’s Not About Income
Well, it’s not. I’m always amazed at people who make (what appears to be) a lot of money, but when something unexpected happens they struggle to cover the expense. It’s because people focus on paying their bills, or on the lifestyle they can afford, rather than building wealth.
It’s like that thing about teaching someone to fish. If you focus on paying your bills, even responsibly saving for the future, it’s always going to be about earning & spending. But if you focus on building wealth, you can eat fish every day. Or something like that.
Building wealth is what separates rich people, from the rest of us. It’s why the rich get richer, and the rest of us have to work harder just to keep up.
The Elephant’s Paycheck is designed to help you build wealth. Starting with retirement for a number of trivial reasons, the Elephant’s Paycheck Blueprint will help you understand how to manage “your assets” like they’re a side business. You will have wealth, even if on a modest scale, that will take some of the edge of worrying about keeping up with the long term financial demands that life brings.
Getting Out of Debt
By the way, if you’re just getting started thinking about your relationship to money, saving, and investing but don’t yet have a budget, you absolutely should check out YNAB.
YNAB, short for You Need A Budget, is a wonderful system for getting out of (and staying out of) debt. It’s also a great company. They’re very supportive to people working through their system, they have a lot of free education, and their software is amazing.
They really are on a mission to get everyone out of debt. And, their hearts are in the right place. Have a look. This link will give you a $6 discount on the software should you decide to purchase it.