Tag: How To Build Wealth

These Money Management Tips Helped Me Through Tough Times

November 19, 2022 /
Money Management Tips
Money Management Tips – Franknez.com.

Those of you following me on Instagram voted for a personal finance article this weekend; so, I’m going through 5 money management tips that have helped me through tough times.

Oh yeah, it’s getting personal.

Let’s get started.

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#1. Aiming to Increase My Income

Whether it was looking for a salary raise, a commission raise, or an increase in clients, aiming to increase my income has always been a career priority for me.

Increasing my income has been one of the most important money management rules I’ve created for myself.

When you increase your income, you increase your ability to increase your savings and be ready when you spot investment opportunities.

#2. Diversifying Income Streams

Another very important one.

Having an additional stream of income has saved my a** during rough patches and setbacks.

Whether it’s creating a side hustle, a side business, or an income generating platform such as a blog or YouTube channel, having an additional stream of income can go a long way.

Especially if your main income is going through a slump.

Building an additional stream of income also raises your household income; who wouldn’t want an additional $1,000 per month, right?

Bookmark: Side Hustles from Home That Make a Ton of Money

#3. Creating a Money Management Plan

money management tips.
Money Management Tips – Franknez.com.

This is a great one, and one most people never start with.

Begin by writing your money goals, literally all of your money goals.

How much money you want to make, how much money you would like to save each month, how much money you can see yourself investing in something else, and so on.

By creating a money management plan, you’re able to zoom out and look at what you need to work at, even if you’re currently in a tight spot.

Sometimes we’re so busy that we forget to just simply stop and set goals that are going to propel us forward.

#4. Learning About Money

Learn how to manage money.

When you get serious about your money, you start to look for ways to get your money right.

That’s why you’re here today.

Being involved in the world of money is going to make a huge difference in your life because you will constantly be taking in great money habits from those who have learned the ropes.

While you might not agree with every money guru or entrepreneur or investor, you can always take something from everyone, and use it to mold your own personal money management experience.

#5. Having a Killer Savings Account

Money management tips.
Money Management Tips – Franknez.com.

Having a killer savings account has saved me from any type of financial setback or unprecedented expenses throughout the year.

The key to building a strong savings account is to first increase your income and then set the additional earnings aside.

The bigger your income, the more funds are made available for you to put away.

Avoid financing new cars or a new home as you increase your income.

These financial decisions will only set you back and limit how much you’re allowed to set aside in case of a rainy day.

These toys should be last on your list until you have a strong foundation and positive trajectory of where your finances are headed.

Also Read: 5 Easy Ways You Can Earn Leverage Income: Start Now

About Frank Nez

Frank Nez is an American entrepreneur and journalist with a background in startup development, marketing, and branding. He is the author of “Reaching the $10K Mark: How Perseverance Overrides Adversity” and founder of SoCal advertising agency Easy Marketing Concepts.

You can follow Frank Nez on: Twitter | Instagram

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How Can the Average American Pivot in a Recession?

October 20, 2022 /
Recession 2023
Want to become recession proof? Here are some steps you can take.

An economic downturn, a recession, call it what you will.

The U.S. economy is in a state of emergency and the average American is suffering financially.

From stock and crypto market crashes to the rise of gas prices and increased inflation, the middle class is in desperate need of help.

The problem is no one is teaching the middle class how to pivot.

Cutting back on expenses isn’t going to do it, you can only cut so much.

This article is going to help you identify several ways to pivot during a recession so that you can take care of your family during economic hard times.

Let’s get started.

Shifting Mindset from Defense to Offense

how to prepare for a recession.
How to prepare for a recession.

During a recession, most people tend to contract, they tend to shrink (cut expenses, coupon, etc.).

Very few, however, expand and look for high reward opportunities.

It’s these opportunities that allows the few to shift their mindsets from defense mode to offense mode.

A defense mindset is idle, waiting for the government to do something about their financial setbacks (job loss, cut hours, lost pension funds, market crashes, etc.).

An offense mindset on the other hand is identifying how to keep up and overcome the changes occurring in their environment.

While most people focus on the things that are out of their control, few focus on the things that are within their control.

If you’re reading this blog, chances are you’re being impacted by our economy today and want to make more money.

Who doesn’t want to make more money?

Money is how we ensure our family’s security and wellbeing in America.

If you want to learn how you can pivot in today’s falling economy by earning more money, keep reading below.

Learn How to Use Leverage and You’ll Never Fall Short Again

how to use leverage
How to prepare for a recession.

We all have the same 24hrs in a day, but do you want to know why successful people make more money than the average person?

It’s not because they work harder than you or because they’re smarter than you.

It’s because they use leverage.

Leverage is a multiplier of both time and money.

What would have taken you decades to accomplish, leverage gets it done at a fraction of the time.

Leverage is accessible to everyone, including you.

But we don’t grow up with mom and dad teaching us this.

So, what are some forms of leverage you can take advantage of as soon as you exit this blog article?

Let’s dive right into them.

Leverage Tools to Help You Make Big Money

#1. Building Your Dream Business

Small business recession
@easymarketingconcepts

Starting a business around your hobby, passion, or skills has the potential to create that world you desire.

How does leverage play a role in building a business?

Think about this for one second.

If you work a 9-5 or commission job, you the employee are generating income for the leader of that organization and getting paid per hour or per sale to do so.

However, if you’re the business owner of a small business or startup, all revenue goes to your business account.

The leverage here is you’re now using your time to build something that will generate positive cashflow instead of giving it away for an hourly wage or commission.

If you don’t have the capital to start a new business, you can always use leverage by taking out a business loan and incrementally paying it back as your business picks up.

Using the banks money to make money is the proper way to leverage someone else’s capital to your advantage.

#2. Day Trading

how to make money during a recession

If you’re already invested in the stock market, then you’ve more than likely heard of day trading.

Day trading uses one of the biggest leveraging tools out there, the stock market/derivatives market.

Here, traders will require intense discipline in order to execute their trades with profit.

Day trading is certainly not for everyone, but if making hundreds of dollars to thousands of dollars per day sounds appealing, you can learn more about it here.

The incredible thing about trading the market is that traders can learn how to make money whether the stock market is booming or crashing.

This means that as long as you’re able to develop the skills necessary to become a consistently profitable trader, you will be able to pivot in a recession and actually make money while most of the economy faces turmoil.

Going on the offense means learning new skills and getting out of your comfort zone to be successful at something outside your 9-5.

franknez day trading

You can follow my personal trading journey on Instagram or Twitter.

#3. Monetizing a Platform

How to prepare for a recession.

Americans are monetizing on Facebook, TikTok, Instagram, YouTube and other platforms such as blogs and podcasts.

If the idea of creating content at scale intrigues you, monetizing a platform could be a great leverage tool for you.

The bigger you grow your audience, the more income you may earn from advertising revenue, affiliate marketing, sponsored content, or other streams.

But the key here is to provide real world value that can help your audience in one form or another.

My blog for example has helped thousands of people invest in the stock and crypto markets for the first time.

Retail investors were able to profit big from investments such as Bitcoin, Shiba Inu Coin, Terra Classic, AMC, and HYMC from early ticker updates on Franknez.com.

Those who took advantage of the information came out profitable before the markets began to tank.

But not everything has to be educational – many creators are publishing content on pretty much any niche that people find interest in.

A platform will help you pivot in a recession by working 24/7 for you.

How to Prepare Personal Finances for a Recession?

In terms of your personal finances, you’ll want to allocate a good chunk of your income into a savings cash account you can build in case of an emergency.

If your income is booming during a recession, consider investing in the S&P 500 index or in rental property.

Many opportunities will present themselves in times of an economic downturn, and when they do, we better be ready.

Becoming Recession-Proof

recession proof
How to prepare for a recession.

Becoming recession-proof is really about taking action.

It’s about creating something or developing new skills that will allow you to overcome any hardships that come your way during economic adversity.

Living paycheck to paycheck is hard, learning new skills is hard, building something new and getting out of our comfort zone is hard, so choose your hard.

You Can Follow Me On: Twitter | Facebook | Instagram

Read: Stocks Retail Investors Can Buy to Build Wealth This Decade

Long-Term Investing vs Short Squeeze Plays vs Day Trading

September 19, 2022 /
Long-Term Investing vs Short Squeeze Plays vs Day Trading
Wealth Building: Differences between Long-Term Investing, Short Squeeze Plays, and Day Trading

Today’s article is going to be extremely educational; I’m going over the biggest differences between long-term investing, short squeeze plays, and day trading.

In this article you’re going to discover what makes each one more susceptible than the other to market manipulation and overall risk.

When you’re looking to build wealth in the market, it is important to identify the major differences between the three.

Be sure to bookmark this page so you can come back to it in the future for a mental refresh.

Let’s get started!

franknez.com

Welcome to Franknez.com – join my newsletter to receive more content just like this straight to your inbox.

I’ve helped people learn how to invest in stocks, crypto, and how to day trade options as well.

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My goal is to help you take your finances to the next level. Be sure to browse the blog for market news, wealth building tips, and other valuable content.

Let’s dive right into it!

#1. Long-Term investing

Long-term investing is the #1 traditional way to build wealth over a long period of time.

Investors looking to build wealth this way tend to invest in high dividend yielding stocks such as the S&P 500.

Here, an investor’s portfolio compounds over time as dividends are rolled over or reinvested back into the asset – further purchasing more stock on its own.

During the years of retirement, investors may decide to stop reinvesting the dividend and accept the dividend as cash instead.

This is how a dividend stock portfolio may yield investors with big passive income in the form of cashflow many years later.

Many of these stocks are not heavy victims to market manipulation due to the security and minimalistic risk there is to invest in these funds.

Read: The Best Dividend Stocks to Buy for Passive Income

#2. Short Squeeze plays

Short squeeze plays have a high risk/high reward ratio that has attracted many new investors into the market.

When a stock is being heavily shorted, the short interest percentage of the stocks float tends to rise.

This means that with enough buying pressure, investors may increase the probability of squeezing short sellers from their positions.

We saw this occur when AMC ran from $2 per share to $72 per share and when GameStop skyrocketed into the hundred-dollar levels.

While both these two stocks are still heavily shorted, these are just two examples of short squeeze plays where investors could have taken advantage of an opportunity to make big bucks.

Short squeeze plays are more susceptible to market manipulation since market makers tend to have a lot of control of retail investor’s orders.

They may drive share prices down by overleveraging their already bias positions, which means a lot of momentum is required for a short squeeze play to be successful.

Short squeeze plays are a form of swing trades that may last weeks to months of holding a stock before trading it for profit.

This type of investment strategy may be viewed as mid-term investing to cash in big on a rather unique opportunity.

#3. Day Trading

Day trading uses leverage as a multiplier to trade stocks in a short-term timeframe.

What makes this investment strategy attractive to most investors are the possibilities to earn massive gains in such a short period of time.

Traders are earning money whether the market is up or down through ‘put and call options contracts’.

Unlike long-term investing or short squeeze plays that have a buy and hold approach, day trading is a skill that requires focus, discipline, and a deep understanding about the psychology of trading.

Day traders can earn hundreds to thousands and even tens of thousands of dollars on a daily basis (you can view my gains here).

While day trading is mainly a form of income, traders may still allocate earnings towards long-term investments to further build their wealth.

Here’s how you make money trading the S&P 500.
Read: How to Trade Options in The Market with a 9-5

Which investment strategy is best for you?

As investors, we need to identify the best way to take advantage of the tool that is the stock market.

Long-term investors should focus on increasing their income to flood their portfolios with compounding effects.

Short squeeze traders should draw out a macro vision board to determine which path to take after short squeeze profits are secured.

Day traders would be wise to invest a portion of their income towards dividend paying assets or physical assets (such as property or a business) that will produce cashflow.

Building wealth is about having your money work for you so that you can have the time freedom to do what you love most.

If you enjoyed this article, please share it on your favorite social media platform!

I’m curious to know your thoughts, leave a comment down below.

You Can Follow Me On: Twitter | Facebook | Instagram

Read: How to Invest in the Stock Market for Beginners
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The Cold Hard Truth About Wealth Inequality

August 15, 2021 /
Wealth Inequality
Wealth Inequality

What is the concern with wealth inequality? What is the argument? If gender inequality can be defined as allowing people different opportunities due to perceived differences based solely on issues of gender, can the same be said about wealth inequality?

Is the argument that the wealth are provided with more opportunities than the middle class and the poor are? That’s a big copout.

franknez

Welcome to Franknez.com – today I want to educate and perhaps open your mind to what we will be discussing today if you had a different point of view.

Lets get started!

I am excited about today’s blog topic. I absolutely love talking about building wealth and helping educate those who want a bigger life for themselves and their loved ones.

I’ve recently seen something within the community that got me wondering, if you hate the wealthy why are you in a community that wants to make a ton of money? It makes no sense to me!

But, I understand not everyone has been exposed to my content, or other content circulating financial literacy. Here’s what I think about wealth inequality.

Wealth Distribution Just Sounds Silly

Who is going to distribute the wealth? The government? The wealthy person up the hill? No. No one owes the people a distribution of wealth. Distribution of wealth is a communist mindset where everyone gets equal shares and benefits from your work.

But what if you provide more value in the marketplace? Would you be happy earning the same as someone who underperformed? No, you wouldn’t.

Wealth distribution occurs within families and generations or through the work of philanthropists, not within the ordinary people. See, the thing is that wealth inequality is a way for ordinary people to complain about their ‘lack of’ rather than to take responsibility for their own actions.

I mean we’ve heard it all before. The rich should pay more taxes, how do they make more money during economic crashes, etc. To clarify, when you own a business, you’re able to deduct a ton of expenses from your business which means you will either pay very little to no taxes.

Regarding crashes, everything in the markets is on discount. The wealthy take advantage of these sales rather than the online retail sales ordinary people take instead. The wealthy take advantage of these sales (whether it be in property or stocks) and their investments grow as the economy begins to do better.

Is Wealth Inequality A Problem?

It most absolutely is a problem. Ordinary people are not being provided with the financial education they deserve. It’s creating a scarcity mindset which targets the wealthy as some sort of adversary.

Yes wealth inequality is a massive problem in America. Our own people aren’t being shown how to multiply their money or how to start a business. I think it’s time America is known for being an entrepreneurial country where its people know nothing else but abundance.

What causes wealth inequality? Wealth inequality is caused by the absence of financial education, or financial literacy. Most people simply don’t know where to start.

Ditch Old Habits

America needs to ditch old habits. The rich are evil, money isn’t everything, I’m so sick of the rich getting wealthier while the poor get poorer. Then do something about it.

Wealthy people are able to bless the pockets of other people, especially if they deserve it. They’re not cruel or evil, many give to their church or charity of choice. We live in a world where money is ‘access’. Money is access to the type of place you live in, it’s access to the type of car you drive, it’s access to the experiences you decide you want in life.

Enough of this ‘access’ and you have freedom of time. See, most people who build wealth build it so they don’t ever need to worry about money. They build it to be able to give and to take care of their families and perhaps pursue their passions without worrying about money.

You cannot attract money if you hate money. Money is good, money is a blessing. Money is an energy that cannot come into your life if you’re against those who have it.

Wealth inequality is a choice.

Do The Wealthy Really Have More Opportunity?

The fact of the fact is that you and I have the same opportunities to build wealth as the wealthy do. What separates ordinary people from you and I is that they don’t believe they do.

They believe the wealthy got lucky or were born into wealth. According to Forbes, 84% of newly millionaires are self-made, outranking billionaires which shows are about 72%.

The millionaires I follow are all self-made. You have Grant Cardone who’s from Louisiana and started from nothing, Patrick Bet-David who came from Iran as a child, and there’s just so many more!

We all have the opportunity to:

Because ultimately these tools are all used by the wealth to get wealthier. Wealth is created by constantly learning and discipling yourself to progress no matter the setbacks.

Someone who’s built wealth for 20 years certainly has more access, therefore opportunities than we do. However, the foundation to wealth building is there for everyone.

How Can Wealth Inequality Be Fixed?

You cannot fix something that’s not broken. People in America all have opportunity. Period. No matter where you come from or what your story is. Everyone has a chance to make it happen for themselves. Wealth inequality is a silly term. People need to educate themselves first and figure out what in their lives needs to start changing.

Why Has Wealth Inequality Increased?

‘Wealth inequality’ has increased because the school system has not changed. Families are not educating themselves nor are they educating the upbringing. Lack of financial literacy is why wealth inequality has increased.

Financial literacy teaches us the basics of money. It shows us the difference between linear income, royalties, residual income, how to invest, how to manage money, and so much more.

While most people tend to spend their entire income and settle for a mediocre job, people with a wealthy mindset learn how to save to invest, and look for opportunities to increase their income instead.

This is why financial literacy is so important for people who want to grow their wealth. Start there.

Where Can I Learn About Building Wealth?

I pack a ton of information on wealth building using my blog. I provide my readers with information I’ve learned by studying the greatest wealth builders of our time. Knowledge is wasted knowledge unless it’s applied knowledge, as I say.

Once I started applying knowledge, I was able to take my net worth from $0 to $56k to eventually my first 6-figures. Be open to receive, the world is abundant and there’s plenty to go around.

Here are a few people I recommend you consume your content from:

  • Frank Nez (of course)
  • Grant Cardone
  • Patrick Bet-David
  • Dave Ramsey
  • Graham Stephen
  • Andrei Jikh
  • Tony Robins
  • Gary Vaynerchuck

By consuming this content, you will be priming your mindset for success. You will learn that there is no shortage of money, and that mindset plays a heavier role in your journey than you ever thought it would.

You can overcome the concept of wealth inequality by educating yourself and learning as much as you can. Once I discovered how to increase my income and multiply my earnings, it was my calling to teach you.

I am you.

Help someone in need of help

Franknez.com

If you know someone who cannot stand the wealthy or has a very negative sentiment towards the rich, show them this blog article. Perspective can do a lot great and positive things.

Let me know your thoughts on wealth inequality. Do you agree people simply lack the tools and education to get started? I’d love to know what you think.

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Read: 5 powerful strategies to begin growing your net worth

6 Strategies To Building Wealth At Any Age!

January 27, 2020 /

A lot of you are inspired and motivated to take things to a higher level. By now you’ve realized that time is still on your side so you’re willing to take advantage of it. This is the single most responsible action you can take (especially in your early 20s) in order to achieve long-term financial success. Here are 6 proven strategies to building wealth at any age.

6 Strategies To Building Wealth At Any Age!

High Income Skill

Shift your focus on one source of income that will generate you enough cash flow to exceed your expenses. The goal is to earn as much as your abilities, skills, and knowledge allow you to so never stop learning. The value you bring to a company is the key to unlocking a high income skill. Find the average annual income in your country, now raise the bar for yourself and never settle for average. The higher your income is the more asset you have available as a tool to building wealth.

If you’re a business owner, keep selling!!! Increase your revenue so you may increase your income. Don’t take from the cookie jar if you have not increased your revenue.

Staying Debt Free

Staying debt free is an essential building block to building wealth. If you don’t have any debt at the moment you’re already one step ahead, now keep staying debt free. If you are in debt, begin planning to eliminate this burden as soon as possible. It will be a challenge and it will require discipline. Budget where you have to and apply the extra cashflow from you high income skill towards your debt. You will not be able to build wealth while in debt therefore this is a vital step.

Read: “Debt Sucks | Here’s How To Pay Off Thousands In Debt“

Live Below Your Means

Live below your means to build wealth

Do not fall for lifestyle/income creep. This occurs when your expenses increase as your income increases. The mistake most people make is spending their entire income which results in living paycheck to paycheck. Live below your means in order to avoid this unnecessary stress.

If you’ve earned a promotion or you’ve increased your sales, don’t use this extra money to blow on increasing your standard of living or materialistic things; it can wait. This practice is called delayed gratification. Instead, use this additional money to save and invest.

Saving Money

If the heading of this third strategy made you feel a little uncomfortable we’re making progress. You’ll have to step out of your comfort zone every time you set a new goal for yourself. Put money in a money market or high yielding savings account. Your hard earned money will multiply through compound interest. I highly suggest reading “The Importance of Creating An Emergency Fund and How To Start” to see how saving money is essential to your financial journey.

By stacking up your Richards you are paying yourself first. You’re not giving your money to a,b,c, & d companies anymore. You’re give it to yourself! It’s what you do with this money that ultimately makes it worth setting it aside. Grant Cardone says money is useless unless you use it. So use it by making money work for you.

Investing Money

Now this is the fun part! You’ve established a high income skill and you’re living below your means debt free; now it’s time to put your money to work for you. Do your research like your life depends on it to see which form of investment is best for you. Do your homework and study this as it will require a high level of confidence to buy assets that will both increase and decrease in value depending on the markets performance.

Your assets are your wealth. The more assets and less liabilities you have the more your net worth increases. Stocks can yield enough annual percentage to duplicate your money over a long-term period of time resulting in more assets. The more money you invest, the higher the return. It is important to understand that money you have to invest must be money you’re willing to lose as well. All investments have some sort of risk factor whether it be low or high. For this reason, it is necessary to be out of debt. Any loss you face will be only but a small dent in your pocket. Here are some ways you can invest your money:

  • Stocks / Bonds
  • REIT’s (Real Estate Investment Trust)
  • Real Estate (Property)
  • Businesses (Partnering up with people – Be the capital people need in order to start a business in order to earn a percentage of the companies profit.)

Earn Passive Income

This sixth strategy towards building wealth is a fun challenge. Determine what niche can earn you passive income at all times no matter where you are in the world. Use your high income skill to continuously grow this stream of income in order to provide a consistent cash flow which you can also use to invest. Your business mindset might establish a couple of these resulting in multiple streams of income. As Grant Cardone says, success is taken, not received. Here are a number of ways you can earn passive income:

  • Rental Property (Real Estate, Property Owner, Airbnb, Storage Rental)
  • Money Market Account or High-Yield Savings Account
  • Paid-Out Dividends
  • YouTube (Monetized)
  • Blogging (Ads, Affiliate Programs, Courses, Product)
  • Business Partnership Contracts

For more details on these subjects read: Earn Passive Income With These 5 Guaranteed Strategies.

Be Consistent

Build Wealth By being consistent

Keep increasing your income and continue to invest over a long period of time. Take advantage of your age and think about where you want to be in the next 10-20 years from now because it starts with what you do today. As long as you keep increasing your income, saving & investing, and living below your mean, you will have the power to build wealth at any age in your lifetime.

Yes, building wealth takes time. Nothing great happens overnight. Building wealth is something you must continuously keep working on. Every challenge you encounter will require a better version of yourself in order to find solutions to the problems you face. Your habits, hard work, and financial discipline will determine the course of your financial future. Keep learning, keep innovating, keep making it happen. Your future self will thank you one day.

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