The key to making more money is knowing the difference between cost and value. Cost is the investment you make in something. Value is the return you receive.
When you focus on the cost of something, it creates feelings of scarcity because you are focused on what you will lose. This scares you from taking action, which limits your life.
Alternatively, when you focus on the value of something, it creates abundance because you are focused on what you will gain. This inspires you to take action, which opens up possibilities in your life.
The more you understand the VALUE, the less relevant the COST becomes. And the more your life improves. Buying something for its VALUE will ultimately add VALUE to your life.
Buying something based on its COST will ultimately become COSTLY because the value is usually low, so you end up having more problems than when you started.
When making any financial decisions, first make sure you know the VALUE. Ask yourself: What do I have to gain from this? What is the value I will receive? What is the return I will get?
In this episode, you will learn how you can understand the difference between cost and value.
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