[00:00] A lot of you probably weren't expecting this. Normally I tell you what not to buy but today I'm going rogue and doing the complete opposite. So here are 10 things that you should buy as soon as you get some money. I create loads of videos about
[00:16] investing on this channel that are applicable to almost anyone no matter your starting point. So if you haven't started investing you should definitely watch those and focus on building a solid foundation first before trying any of
[00:29] this stuff. But let's say you've already built a free fund portfolio or have some sort of index fund strategy and you've got some spare money that you can afford to lose. It might be time to upgrade your investments. I actually made a video a few years back on this channel where I
[00:43] put a blindfold on and threw a dart at a random stock to invest in. It landed on Samsung and believe it or not that very same investment is now sitting at nearly 500% return. There is of
[00:55] cause a certain amount of risk that comes with investing in individual stocks as investments can go up as well as down. But if you pick your investments well, then you set yourself up for the highest chance of success. But what about alternative investments? Well, for those that
[01:09] have been watching me for a while now, you all know that I'm a massive car fan. And when I was younger, I actually used to buy and sell cars for a bit of extra cash. I still remember picking up a Ford Fiesta XR2 for £1,750, which is around $2,350, and later selling it for around £2,700.
[01:29] The annoying thing is, if I held onto it to today, I would have made a 1,000% return, because the car's value has shot up over the last few years. But it's not just classic cars. Certain watches, fine wine and art, all have the potential to hold or even increase
[01:44] in value over time. And unlike numbers going up and down on the screen, these are real assets that you get to live with and enjoy. The average person spends between four and five hours every week
[01:58] cleaning their house. That's around 234 hours every year. Now imagine you had an extra 29 days to put towards your business or side hustle. How much extra money could you make? And it's not just cleaning that you could outsource, cooking, gardening, driving, or even walking your dog.
[02:14] Now, of course, hiring other people to do tasks does cost money. So the real question is, when is it actually worth it? And that comes down to one simple number, your effective hourly rate. You simply take how much you earn in a year and divide it by how many hours you work. So let's
[02:31] say you earn $80,000 a year and work around 40 hours a week or around 2,000 hours a year after factoring in some time off. That would mean your effective hourly rate is $40 per hour. My golden
[02:48] rule is the moment you can pay someone less than that rate to take a job off your hands, you should seriously consider it. Now this is probably the cheapest of all the items on my list, but the
[03:01] Return on investment is massive. For the price of a couple of cups of coffee, you can basically absorb decades of someone's life, summarised within a couple of hundred pages. Back in school, when I was failing my exams and suffering with dyslexia,
[03:15] I never thought I'd be sat here talking about books. But one day, a friend of mine gave me this book, and it changed my perspective forever. It's called Virgin King, and it wasn't a bit of schoolboy banter, if you get what I mean.
[03:28] It's a biography about Richard Branson. And at the time, he was always in the news headlines, pulling the most outrageous marketing stunts that forced the world to pay attention to his businesses. And I was instantly inspired.
[03:41] I mean, this was a British guy who had severe dyslexia, was written off by all his teachers, and left school with no qualifications. Just like me. And then again, all the odds, he managed to become one of the most successful entrepreneurs to ever live.
[03:54] So if you've been waiting for a sign to start that business, side hustle or anything else, let this be it. Here are four books I'd recommend based on where you are in your business or investing journey. The Millionaire Fastlane exposes traditional financial advice as a trap and provides a framework to build your wealth quickly using fast lane thinking Being this revisited shows why most small businesses fail and how to build one that runs without you
[04:19] so you end up owning a business and not just another job. The little book of Common Sense Investing reveals a simple, hands-off way to grow your money that quietly beats the professionals. And How to Win Friends and Influence People teaches you how to get people eating out the palm of your hand
[04:35] and open almost any door because in the end, everything comes down to your relationship. That brings me on to... Now, a lot of you are going to like this one and it might even be a little bit controversial,
[04:50] but your girlfriend or your partner is one of the most important upgrades you'll ever make. I know what you're thinking. Mark, you're supposed to teach us about money, not give us relationship advice. But here's the thing. The partner you choose is actually one of the single biggest factors in how wealthy you'll become.
[05:06] To this day, I still remember my ex-girlfriend who I started dating when I was still broke. After a few dates, I told her that in order to achieve my goals, we were going to have to make some real sacrifices.
[05:18] And to be honest with you, I thought that conversation was going to put her off completely. I mean, who in their right mind wants to wait around for a 25-year-old ginger lad she'd only met a handful of times? but to my surprise she actually took it very well. She backed me every step of
[05:34] the way and even started helping out in my business as things got a bit busier. But when I finally got wealthy and achieved my goals I realized that despite everything it just wasn't enough so I upgraded my girlfriend to my wife
[05:48] and it was one of the best things I ever did. She's had a massive impact on everything I've built and I've definitely made more money as a result and this isn't just my experience the numbers back it up too. On average married people end up with
[06:02] around 77% more wealth per person than those who stay single and their net worth ties by roughly another 16% for every single year they stay married. So the right partner can really make you richer as long as you don't get divorced. So
[06:17] choose wisely. Here's the problem with the traditional education system. It was never built to make you wealthy. I mean think about it, they'll happily teach you all about
[06:30] the French Revolution or a bit of trigonometry but not one single thing about how money actually works or how to build something of your own. So the question is, how can you upgrade your teachers? Well in my case, it actually happened by mistake when I met this guy called Dave
[06:45] down my local flying club. Now Dave wasn't a teacher in the traditional sense, he was actually a businessman and before meeting him I never even thought starting a business or even a side hustle was an option. You see, whether you realise it or not,
[06:58] the people you learn from set the ceiling on everything you'll ever achieve. In fact, researchers once tracked nearly a thousand kids for decades, and the ones who had a mentor went on to earn substantially more money than those who didn't.
[07:10] And here's the good news. It's now way easier to find mentors than it's ever been, because you have this. Some of the best minds in the world are speaking at events, going on podcasts and making videos on YouTube completely for free.
[07:23] And that's why I started making videos myself, so I could become to others what Dave was to me. And the biggest piece of advice I ever got from Dave was to learn a high income skill. So that's exactly what I did.
[07:36] I learned joinery and carpentry and used that skill to start designing, building and selling my own products. And for the first time in my life, I was making real money completely outside of a normal job.
[07:48] But today, things are a little different because the best high income skills don't have to rely on physical labour. Instead, you can learn digital skills like editing videos, copywriting, brand design, building website funnels, or using AI to create automation.
[08:03] So, for example, let's say you use AI to build high converting websites to help businesses make more sales. If you can help them make, say, an extra $20,000 a month, they'll happily pay you $2,000 to $3,000 a month as a result.
[08:16] If you interested in this and want to learn more then I actually running a free live training very soon I leave a link in the description below I want you to imagine for a moment that you stumbled across a little money making machine
[08:30] that prints out the same amount of money every day. I know, pretty cool right? Now at first you'd be pretty happy. You'd probably take a holiday or spend it all off some new clothes. But eventually you start to wonder if it can print more. So you take some of the money that
[08:44] it prints out and use it to make some upgrades. Maybe you make it bigger, faster or more efficient and suddenly it starts to print more money. Well here's the thing, that money making machine is sort of like having a side hustle or business. I remember when my son first started his videography
[09:00] business. He didn't have much money to start with so he saved up and eventually bought his first camera. It was actually this one here. After a while though he noticed that his videography skills were actually better than the camera he was using.
[09:14] I explained to him that a better camera wasn't actually a cost at all. It was an investment into his money-making machine. So he finally upgraded to this one. And instantly, clients started to notice the difference,
[09:27] which allowed him to make back all of his investment and much more. So once you start making money, always consider if there's any tools you can upgrade that could help you grow over the long term. Maybe a new microphone, a better laptop,
[09:40] or an AI software that makes you more efficient. You'll also be able to write these expenses off, which essentially means decreating your tax bill, which brings me on to... When you start making money for the first time,
[09:54] you never want to be a big fish in a small pond, especially when it comes to your accountant. In other words, you need an accountant who's used to working with clients far ahead of your current position to face challenges that you haven't even considered yet.
[10:07] Okay Mark, but accountants are really expensive. I can't afford that. I hear what you're saying. So one thing you can do to reduce your bill is to use software that helps you manage your own finances. So what software should you use?
[10:20] Well, there are lots of different options out there, but one of my favourites is Odoo, as it allows you to manage your accounts for free. Odoo is an all-in-one business management software that provides you with a range of applications to simplify the day-to-day management of your business,
[10:35] including project management, website creation, invoicing and of course accounting. This is the accounting app and if it's the first app you're using on Odoo then it's completely free. You can easily use this to create and send invoices.
[10:48] It also keeps track of payments which helps you follow up on late payers and believe me I've had a lot of experience with people like that. It honestly cuts down your admin time as it connects to your bank account and automatically matches payments and transactions.
[11:01] It also lets you generate reports by going up to this tab and clicking balance sheet. And then you can change it to last quarter. And you can do a comparison to the previous period by clicking here. Then, if you want to look at your profit and loss statement, you just go back to the reporting tab, click here, and you can see a complete breakdown.
[11:20] This is so important because it helps you keep your finger on the pulse when it comes to your finances, which is the most important part of any side hustle or business. As I was going to talk about them anyway, I reached out to Odoo to see if they wanted to sponsor this portion of the video.
[11:34] They're giving you your first back completely free for life, including unlimited hosting and support. If you're interested in that, I'll leave a link in the description below.
[11:47] Look, I wanted to mention this one, but it is a little bit lame, so I'm going to keep it really short. Due to our jobs nowadays, we spend most of our time sitting down, so it's incredibly important to get a comfortable chair that doesn't destroy your back.
[11:59] The first thing I did while I started this YouTube channel, even before posting my first video, was go out and buy the chair I'm currently sitting in. It was pretty expensive, but worth every penny, and a definite investment into my ability to do YouTube long term.
[12:14] Believe me, if my back gives out, I'm done for. now i know what you're thinking here we go the old fella's gonna tell us to get an early night you're pushing 70 and you'll probably fall asleep in your armchair whilst dribbling into your dinner
[12:29] but here the thing i had enough life experience to see what neglecting sleep can actually do to people that exactly why you should hear me out Studies show that not getting enough sleep actually reduces your decision ability
[12:41] to the same extent as being legally drunk. I used to operate like this for months, even years at a time, pushing through no matter what, until about three years ago. It nearly killed me. I got home one night absolutely shattered, and I was walking down my own stairs.
[12:57] Now, bear in mind, I've walked down these stairs thousands of times before, but because I was so tired, I wasn't thinking straight. So then, I flipped. My legs went straight up and I trained down hard on my upper back, cracking three ribs and puncturing a lung.
[13:12] The broken ribs missed my kidney by millimetres. This moment changed my mindset completely. Don't get me wrong, working hard is important. It's played a massive part in my success throughout my life and a few late nights here and there is simply part of the process.
[13:27] But listening to your body and getting enough rest is equally as crucial. The biggest game changer for me has been this. And no, before you all rush to the comments, I'm not wearing two watches. It's a fitness wearable called a Whoop and it tracks my sleep, my recovery and how much strain I put my body under each day.
[13:44] This isn't sponsored in any way, but whoop, if you're listening and want to sponsor a big time athlete with a body like a Greek god, then you know where to find me. Every single time I post a video, I get comments like this.
[13:59] Why even be a millionaire if you're not going to spend any of it? What's the point of money if you don't enjoy it? Just spend your money and live your millionaire life. But believe it or not, I do spend money.
[14:11] You see, every time you spend money, you go through three emotional phases. Now, let's see what happens at each of these stages when you purchase things versus experiences, starting with the anticipation phase.
[14:23] Let's say you're making an expensive purchase, maybe a new iPhone or a pair of designer trainers. You might be pretty excited to get your hands on it, but the thought of waiting days for it to be delivered actually becomes a bit frustrating.
[14:36] So we'll say the happiness here is medium. But with an experience, things work a little differently. Maybe you've just booked a dream vacation or secured tickets to a concert with your best mates. You're buzzing for it.
[14:48] Course you are. Waiting for the experience doesn't wind you up. If anything, it's part of the fun. So based on that, let's call the happiness level for experience anticipation as high. Now it's time for the moment itself.
[15:01] This is the point you actually get your hands on that new shiny toy or get to live the experience that you've been waiting for. You'll either think this is a nice thing or this is great fun. So in both cases, happiness levels are of course going to be high.
[15:14] But here's where the truth really starts to reveal itself. The aftertaste. You might be thinking, hang on Mark, if I buy a physical thing, I've still got it long after the experience is over, so surely that one wins.
[15:27] But that right there is part of the trap. You've still got the object. What you haven't got is the feeling. that buzz you had on day one wore off weeks ago and now it just sits there getting older and going out of date.
[15:40] So for physical things, the aftertaste is low. While products get outdated, experiences get retold and those memories last a lifetime. So the aftertaste for experiences is high.
[15:52] I don't use any of the stuff I bought back in the day but I do remember the first time I flew an aeroplane by myself or being trackside at the Monaco Grand Prix or the time I flew radio-controlled helicopters for Ridley Scott in the film Black Hawk Down.
[16:07] Even having one of my heroes, Richard Branson, cook me spaghetti bolognese at his house followed by a deep conversation about business and success. These experiences shaped me as a person, gave me a fuller life
[16:20] and left me with stories that I can tell my grandkids. But I know 99% of you will need to live through it to fully understand this point. So feel free to buy the stuff and make the mistakes yourself and when you look back at this moment when you're my age
[16:34] I'm sure we'll be on the same page and if you want to know how to increase your earning potential then I'll leave that video right up there but don't click on it just yet make sure to subscribe if you want to grow your wealth ok, I'll see you over there