Many hard-working middle class people don’t realize that they can be living just a few feet away from the next millionaire. Wondering which one of your neighbors I’m talking about?
For the middle class that are barely getting by or even worse barely getting by and in debt, the idea that they could be rich seems so out of reach. Trust and believe it is not.
Wish to know the wealth secrets the wealthy are keeping to themselves?? (Duh, that’s why I’m still reading)
The only difference between the wealthy and the broke is mindset. Wealthy people set financial goals that they choose to act as a driving force behind every financial decision. They have a healthy relationship with money and use money strategically to achieve their goals.
A lot of wealthy people started from where the working middle-class are at now and worked smart to build their wealth. To work smarter rather than harder, first understand and take accountability for your current financial status.
Watch the video below for more context and perspective. (To get straight to the money secrets you came for, scroll down to ”THE BREAKDOWN'‘)
In a 2017 CBS This Morning Gayle King interview with Dave Chapelle, Chapelle details why he walked away from fame with a tale of The Bushman and The Baboon.
(TRANSCRIPTION)
Gayle King: The decision was “so much bigger than money.”
Dave Chapelle: (agrees and responds) "I watched one of these nature shows one time, and they were talking about how a Bushman finds water when it's scarce," he said. "And they do what's called a salt trap. I didn't know this, apparently baboons love salt. So they put a lump of salt in the hole and they wait for a baboon. The baboon comes, sticks his hand in the hole, grabs the salt, the salt makes his hand bigger and he's trapped, can't get his hand out."
The Baboon then gets caught in a trap set up by The Bushman and is given “all the salt he wants” until he he gets thirsty. “The first place The Baboon runs to is water, The Bushman follows him, and they both drink to their fill. And in that analogy, I felt like The Baboon but I was smart enough to let go of the salt.
I LOVE a good life analogy 👁 Last year this clip reminded me to focus and honor the things that bring value to my life and define happiness for myself. In a similar way, during my debt free journey, this clip reminded me to identify my wants vs. needs as they pertain to my financial goals. (Step 3 of my fast debt payoff plan: Analyze Your Expenses).
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Honestly, the rich and wealthy probably do not care if you know the secrets are not. In true American fashion, they capitalize off of those that don’t.
Ever hear the story of The Bushman and The Baboon? To be clear, the story is about The Bushman NOT The Baboon. The Bushman in a hunt for water plays The Baboon to get it. In this analogy:
👁 The Bushman is advertising/societal standards
👁 The Baboon is a person in a cycle of debt
👁 Salt is representative of new cars, make-up, houses, clothes, nights out, etc.
👁 Water is the understanding of poor spending habits, discipline, healthy relationship with money, and financial independence
The Bushman entices, captures, and distracts a random Baboon with something it has been led to believe it wants (salt), depriving it of the thing it needs - the very same thing The Bushman is on the hunt for, water.
Despite its entrapment, The Baboon indulges in the salt, subsequently forgetting about the trap it is in and eventually starts to need water. The Bushman, after his successful brainwash, releases The Baboon from captivity and follows it to water.
Its The Bushman who wins in this story. The Baboon already knew where its water was for whenever it needed some but instead allowed itself to stay distracted by something it was led to believe it wanted until it reached its breaking point.
If you are in debt, it is not because you are broke, it is because you are spending money on things that do not bring you money.
Your expenses are costing you money but your liabilities are costing you your freedom!! - Brithney Joseph
A lot of your expenses are things that can be cut out or reduced until you are debt-free. And when you are debt-free, you might find you didn't need to be spending money on some of those things anyway to live your happiest life.
To pay off your debt faster, analyze your expenses. Ask yourself why for every expense and then justify that expense.
Don't stay trapped in the cycle of debt. Let the salt go.
So, now you realize you are in this money trap and want to change it. How do you start to break out of it?
First, set some financial goals. Second, before you pull out your cash or debit card, ask yourself these questions.
What do you think of this analogy as it relates to the debt cycle? Can you relate to The Bushman and The Baboon? Let me know in the comments.