Here’s the Video Transcript:
What’s up YouTube Jason Wardrop here and in this video, I’m gonna break down how to invest your first one thousand dollars for beginners right now obviously a thousand dollars is kind of the beginning stages of investing and so that’s obviously Why these are some beginning tactics and techniques that you can go through and implement even if you have a small amount of money now When I’m going through I’m always thinking constantly about the best ways to utilize my time best ways utilize my money So as I’ve been thinking about these things for the last couple of weeks I just wanted to share some things with you guys that I’ve done and I’ve implemented in my life and I’ve seen that I’ve worked extremely well And hopefully you guys can go through and implement these as well into your life so you can go and watch your money actually Grow now the key thing that we’ve got to remember with investing is you’re not investing for instant gratification, right? it’s not like the Bitcoin phase when everything was just going up crazy and all of a sudden it crashed down because as quick as Things come they can just go at just as quickly so The real mindset that we’ve got to have when it comes to investing This is something that one of my mentors told me that I really like.
It’s always stuck with me Is that five years from now? No matter what you do right. Now. You’re going to be five years older, right? so it’s the way do we invest our time and money right now that could either Help us five years from now or it could really hurt us So those are the things that we really got to take into consideration When we’re thinking about where to go through and put our money So as I’ve been thinking about this I’ve broken down three key points of the best ways to go through and use your first $1,000 when it comes to investing that money the best place to put it it’s not just in the bank because You’re getting basically nothing on your money Which you guys probably already know that and if it’s sitting in a dresser at home once again It’s not doing anything for you guys So let’s break down the three things that you can do with your first $1,000 invested to get the most out of your money Alright guys, so number one.
Okay. So this one’s going to kind of reference towards Dave Ramsey and Dave Ramsey the first I think baby step but it’s one of the first ones is Basically going through and paying off all of your credit card debt Now if you think about investing the whole point of investing is not just to go like put our money somewhere Right out of somewhere. The whole idea of investing is to get an ROI, right? Get a good ROI get a good return on our investment and so a good pretty good ROI in real estate for example is about 8 to 10 percent and then you’ve got some other you know stocks or index funds something like that where you get 5% or even and there’s some obviously Investments that you get a little bit higher return but typically those are a lot more risky and it’s not as passive as just going through and investing in index funds mutual funds or Even real estate.
For example. Now the reason why I’m saying number one guys here is pay off Your credit card is because a good return in real estate is eight to ten percent Well, typically your interest on your credit card payments is anywhere between fifteen to thirty Percent, okay. So that’s like two to three times what you would be earning on a good investment and that’s interest That’s that’s going against you. Right? So if you owe $1,000 fifteen to thirty percent That adds up Super super quick and one harms your credit score and – you’re just getting deeper and deeper in debt And one thing I can promise you is you cannot work harder than interest right interest never tires never runs out of energy Never Sleeps It just keeps on going and going and going So the number one thing you do want to do is if you have a late Leftover cash just laying around and if you do have credit card debt, all right, go pay that off that is the first thing you want to do because if you have fifteen to thirty percent Interest on your credit cards and then you go put your money into something.
That’s make you eight to ten percent You’re still losing money All right, so you want to go through and you want to pay off those credit cards? And so you can get your credit back up and that is the best way to start out by having your money actually Work for you. All right. So let’s say you’ve already done that. You’re like Jason. I’ve already got all my credit cards paid off I don’t have any debt nothing like that. Well, the next thing that I personally would do is go through and attend events right, so some events that could be $100 $500 $1,000 and you find an event that’s on a topic that you’re really interested and passionate about right The great thing about events is that you can go and get a good solid education that you just usually have some really great speakers that you can learn some things you can get some good ideas for a business that you want to start or Some other things you want to do and also another great thing about events is you’re able to meet other like-minded people and network with these people There’s a lot of people that go through and they find their business partners at events And the crazy thing is there’s literally events on everything guys.
There’s so many events these days So you guys niches you want to get down and then you can find all these people from all the world that are attending this event that have the same likes and interests and passions as you so if you wanted to go through and start A business with them or just connect with them just to have a friend that you could go talk about different things It’s a great place to do that. So, you know you get educated you’re able to network and then the third thing this is the thing that I probably Benefit most from events is just getting fired up, right every time I attend an event. I just get fired up I want to take my business to the next level because I work by myself every single day We’ve got our team but we all rope work remotely. And so I’m just in my house working by myself and Sometimes you know It can get a little bit boring or it gets a little monotonous or you get that fatigue and all that but then when you go and attend event And you see the hype you see everyone else there this excited you meet other like-minded people it gets you excited and you hear about their success you share about your success and Then you hear about all these other people doing these amazing great things and then it pushes you to take your business to the next Level and I feel like every single time of a tentative event I always come back and for at least the next three to four weeks I am super fired up super productive and I’m able to get so much more done in my business Which therefore it brings us massive ROI I meet like-minded people and you’re able to get some good education that can help you gain those skillsets To take your business to the next level and be able to make some more money.
All right So the third thing this is I believe the most important one and that is going through and investing the money in Yourself and gain a skill set now I know a lot of you guys might not think that that’s super exciting But that is literally the number one thing I believe that you can go through and do with one thousand dollars after you paid off your credit card debts, okay? Even more so than and it could correlate with attending events of going through an invest in yourself and getting education all that But there’s a lot of places where you can go through and get specific education right now I’m not talking about all those different courses where you click on a Facebook ad attend a webinar going, you know Buy a thousand dollar course, I’m not talking about that Okay, there are courses that are very specific to this that are very helpful, but there’s other sites There’s sites like you to me All right There’s sites like plural site plural site goes and is specific to helping coders learning how to code and so you can go through And you can get a monthly subscription, I believe and you can learn different ways to code or udemy There’s literally courses on everything out there Okay, you you want to learn anything you go best that money in yourself? And then you’re able to gain that skill set now gaining a skill set is huge guys I remember back a couple years ago when I was first starting my business and it was kind of early stages I was like, I don’t know if this thing is really gonna take off or it’s gonna fail or what’s really gonna happen And so I was thinking to myself.
Okay, well whether it takes off or whether it fails and I got to go get a job What is the core skill set that I want to gain from starting this business, right? What is the core skill set that if I do have to go get a job I can tell the people that are interviewing me Hey I’ve got this skill set and I’m gonna be super valuable to your company or if you know things took off What would be the skill set? they would be able to help our business take off and Because before then I was just kind of a generalist, right? Like I call myself a social media marketer, but pretty much, you know, six seven years ago Everyone did write if someone had made a post on social media on Facebook Instagram Whatever they called himself a social media digital marketer, right, which honestly that that didn’t really mean anything So I sat back and I thought about it was like, okay What is the core skill set the one or maybe even two? That I could go and focus on that would help serve me in my business and if my business completely flopped It would be a huge benefit a huge help when I you know If I had to go through an interview and get a job So as I sat back and thought about all that that was like you know what? Okay webinars is like the number one Thing because webinars that’s where you’re able to sell you’re able to sell a little bit higher ticket item and then in conjunction with that In order to get people on the webinar I had to learn paid advertisers how to learn how to do Facebook ads and in the beginning guys I was only spending maybe like I do live webinars and I maybe spend about two hundred dollars To go through and get people on that event and then as I was growing I was able to go through and get more exposure and best more myself learned more of the techniques of how to actually run webinars it was gaining more experience with Facebook advertising and be able to build that background and That was really the game changer guys.
It was I literally remember this. This was I think the early early 2016 when I sat back and I was just like so literally like two years ago I sat back He’s like, okay, what are my core skill sets what can really go through and take me to the next level What’s something that whether I do get a job or if I you know? stay working for myself that’s gonna be able to bless me and be able to have a huge ROI huge return on my Investment of my time and my money and that was webinars and that has taking things to the next level for me And then I was able to go through and learn a lot of other skill sets by investing in myself alright So I like to have typically a budget between fifty to sixty Thousand dollars per year that I set aside just for a mentorship just for coaching I probably spent close to seventy to seventy-five thousand dollars just this year and it’s just September of 2018 on coaching on mentorship Investing in myself and gaining those skill sets that I know Will be able to help me take my business to the next level and in previous years, you know I’ve spent an easy thirty forty fifty thousand dollars in mentorship and pretty much at the beginning You might not think that sounds crazy But you know in the beginning I was putting all my money back into education and learning and gaining skills It wasn’t going through him buying fancy cars wasn’t buying fancy houses or anything else like that It was investing in myself because I know like I said a little bit earlier five years from now no matter what I do I’m gonna be five years older so if I go and invest in all the the cars and the cool houses or boats or whatever it is that don’t have any Return on investment then.
I’ll just pretty much be at a very similar spot that I am right. Obviously, it’s cool It’s fun as flashy. But if I go through and invest that money back into myself into my education Five years from now. I’ll have so many more skill sets I’ll be able to go through and have so much more experience and background They’ll be able to take me to the next level and be able to you know if I wanted to get those cars and houses and all that stuff without having to really worry about like all my money is just in these like Investments that aren’t really investments aren’t really bringing any money back in return. All right So anyway guys if you guys are a complete beginner That is basically the three things that I would do if you’re looking to invest your first thousand dollars and really if you know the nice thing about a thousand dollars if you go and Just really focus.
It’s not too hard to go scrounge up and save one thousand dollars You could literally do that in a couple of weeks and get that first thousand dollars But first you want to pay off your credit cards because that interest is just eating you alive It’s absolutely killing you second is investing in yourself, right? I mean I would even say attending events depending on when the next event or networking group is coming up That could be second and then also making sure that you’re investing yourself gaining that skillset that then you can go through and invest your hundred thousand dollars, right or your five hundred thousand dollars or your million dollars because That’s a whole different game right when you’re investing five hundred thousand dollars You can go and actually have some money to invest in real estate or some other higher-end things Whereas with a thousand dollars use you don’t really have the the capability in the luxury to go through and do that All right.
So anyway guys, hopefully you enjoyed this video today Once again, if you guys are brand new to my channel, my name is Jason Wardrop If you like this video go ahead give it a thumbs up. I would greatly appreciate that also comment down below Let me know what you’ve invested in Invested your money or your time or anything like that in I would love to hear about it And if you’re brand new here, make sure you guys subscribe and hit that notification bell would love to see you in later videos on the channel and with that said Thanks so much for watching and I will see you all later.