3 Money problems in the US today and how to solve them
By: Sunny Mitra
Tags: Banking, Finance, Family, Infinite Banking Concept, Retirement

Why do so many Americans live paycheck to paycheck, accumulate massive amounts of debt and struggle financially to maintain the American dream. It all boils down to our relationship with money, which influences all our financial decisions. My name is Sunny Mitra, founder of Bright Horizon Wealth, we teach entrepreneurs and go-getters like you how to own their financial future with the concept of Infinite Banking.

A paradigm shift

Let’s talk a little about our relationship with money: last week I was talking to this teenager and asked him how much money you want to make in your life? His reply was, a lot of money. I asked the question again, how much money you want to make in your life? Can you give me an exact dollar figure? This time he went silent on me. Because neither did he have a goal in life nor was he sure how much money he wanted to make. That is what I call my friends a casual relationship. Think for a moment, if money is so important in your life, don’t you think you need to get deeper into this relationship with it and look for the long-haul? I know I’m getting a little philosophical here but think about it. We have been taught that money is the root of all evil. Which, surprisingly, is not true. What the Bible says is the greed of money is the root of all evil. Now look at it like this, if we hate money, how can we expect to have enough of it? It’s a matter of a big paradigm shift.

Your goal towards Money

I know someone who is a social influencer. Recently, we had a chat and I heard him saying, when he was only 26 years old, he wrote down his money goal as, “The major definite purpose of my life is to become a millionaire.” Today, several decades later, sometimes he even brings $10,000 home a day. Just because he’s a social influencer. He didn’t have much extra talent, nor did he have enough resources when he was growing up. But he had one thing that separated him from the rest of the crowd, a goal. Yes, that goal gave him a reason; the reason gave him the drive and the drive drove him closer to the goal post.

Security, freedom, and doing what we enjoy doing are all part of the American dream. However, when we checked all those boxes, we realized that we weren’t happy, and we had buyer’s remorse and the reason is because it came with debt and we realized at that point that we weren’t prepared financially to succeed.

Financial literacy

One of the top problems for financially struggling, I believe is financial literacy. As Americans, we are very dependent on what the financial institutions tell us to do with our money. We very rarely tend to take the time to do the research ourselves to figure out where our best options are and, because of that, we end up in a massive amount of debt and find ourselves paying money to the financial institutions every single year because we just don’t understand how the financial game is played. So, Olga, my wife, and I have very much found our purpose in teaching individuals about infinite banking and financial literacy because we realized that it was something that affected ourselves and we just really want to be able to help others learn how to level up and come into control of their finances. Because financial freedom really all boils down to the decisions that you make and if you are in control and understand where your expenses are going and understand how to budget so that you are in control of your money and your money isn’t controlling you, you can live a completely different lifestyle because you have the freedom and the flexibility to know exactly what your money is doing and how you can impact your life for a better opportunity.

Budgeting, in my opinion, is just an extension of your financial literacy. You plan and budget and note down your daily income and expenses. Now, let me ask you this, if you go to a doctor, how does she diagnose your problem? By asking you some questions, right? Then when she has enough information, based on that she writes your prescription. In other words, she cannot recommend you a cure, unless she has all the information available. Creating a budget is just like that. If we do not keep a track of where and how much money is coming every month, if we do not keep a track of where and how we are spending that money, it will make our journey very difficult, that is for sure. This budgeting and keeping track of monthly income and expenses is so important that we have a little tool called 31-day income expense book, which we provide to all those who become our clients. My 10 years in banking taught me the importance of it.

And finally, before giving you some solutions, I want to revisit the same place that we got started with which is financial literacy. Yes, financial education. How do I know? Because I learned from Zig Ziglar who once said, to earn more you need to learn more. Now don’t get me wrong, I believe education is super important. However, when we talk about education, we are talking about colleges and universities because we are taught as a society to go to college and to go to university. And that is amazing. However, a lot of kids these days have no idea or no clue what they want to be when they grow up and that’s not their fault. But what happens is they end up spending tens of thousands of dollars on education and they’re still lost within the education industry trying to figure out what it is that they’re going to do when they grow up, right? How many people do you think read another nonfiction book after they leave their school or college? You got the answer. That is the sole reason when we talk about infinite banking and bring the point that someone can get rid of that debt and create a perpetual passive income just by capturing their lost interest and principal, people always ask me the same question, how come nobody told me about it before?

Now let’s sum it up:

We need a paradigm shift to create abundance in life.

We need to establish a goal of how much money we want to make in our life.

We need to be a student of finance. Have a goal to become financially literate. Learn a little bit of budgeting, keep track of our daily income and expenses. Balance our checkbook register at the end of the week or month. Make sure we don’t spend more than we make.

Now let me give you a couple of tools, which I know will get you there faster than anything else:

Make a goal to have at least one financially successful person as your friend in life.

Make a daily or weekly goal to watch some YouTube videos or read some book on finances and how to generate ample cash.

One very good place to start is go to this website and read their financial articles on money. There you will know a lot about money faster than reading hundreds of books on finances. The name of that website is www.medium.com. And the beauty of it is you can get three articles for free in a month. Go there and read those articles for a couple of months if you think you can go more than three, then get their membership which is only five dollars a month. But I guarantee it, you will find a lot of interesting topics, solutions, and tools there about money and financial freedom. And the most beautiful thing about this place is all those people who wrote their articles are regular people like you and me. Instead of getting those experiences from the book, they are writing their own life experiences. So, it is timelier and more accurate information as of today’s date then just by reading Think and Grow Rich by Napoleon Hill. First, you are not going to read that book if you’re not already in love with reading nonfiction books. Secondly, you might be too busy to read a 300-page book. But the articles in medium.com are short and precise and to the point.

One of the fastest and best ways to make money in today’s world is, you should also venture to look into the Internet business because the possibilities there are just endless. Just start it part-time and then spread yourself as you go. I want to quote a very famous influencer today on social media which I like very much, “in order to get rid of your money problems all you need to do is find out the inner child that you’re born with. Find out that unique gift that you possess. Let it come to the surface. And then share it with the world on the Internet. You’ll make way more money than you ever thought possible.

Also, if you’re worried about paying your debts and creating a source of perpetual passive income, we have a free book called, “Infinity Banking Secrets” where we share different ideas on how you can utilize your whole life insurance policy, to achieve your financial freedom. So definitely check out the link below and visit our masterclass.

And remember to own your tomorrow by converting liabilities into assets.

Link to Our Masterclass: http://bit.ly/BrightHorizonWealthMasterclass