The 1 Piece of Advice That Creates a Money Win

The 1 Piece of Advice That Creates a Money Win

The 1 Piece of Advice That Creates a Money Win

Make a Money Win

A teammate of mine had just started his second year in the NFL on a $550,000 contract.

We were talking about buying expensive cars. Yeah, we all want one.

Gif of man throwing out money

I warned him against large purchases that he could not pay for in cash. I tell this cautionary tale to illustrate the greatest wealth principle that each of us can apply. DELAY!


Delay your purchases 3 months to 3 years!

And here is why…


It was his first year on an active roster. He had no house, no 401(k), and no investments.  


Two months on the $550,000 contract, which is $225,000 after taxes and agent fees, he buys a Porsche Cayenne for $90k.  


Five months later, he’s released from the NFL— with no house, no 401(k), no investments, and now no job or source of income.  


Did he drive before he bought his Porsche? Yes. He had a perfectly functional car.


If he had delayed the purchase 6 months to see that his team drafted a new player to his position, would he have made the same purchase? We hope not, but we’ll never know.  


Instances like this happen every day.  The pleasure of a new purchase can rarely be matched. I get it.




The Delay Mentality

Too many people ‘say’ they want to make their money count, ‘say’ they want to be rich.  But every opportunity they have to SPEND, they do so. Small purchases to big purchases: they spend their money and justify every dollar spent.  Sometimes even taking on more debt!


What makes the behavior even more strange is that no wealthy person behaves like this.  Every wealthy person you know employs the strategy of delaying purchases.  




Do you remember that time you got a bonus? Or the raise you’d been waiting for?


Now you finally have the income you’ve always dreamed of. Ahhh.


You finally have the money to go and…


I couldn’t be more direct with this statement. Delay any purchase that comes to mind!


Why Delay?

You worked HARD to create income and savings. Or maybe you encountered new money from debt relief or a promotion. Now you have the money to buy _____.  

Whatever fills the blank, you’ve earned it, you’ve worked for it, you want it. But before you DO buy it…DELAY! Delay your purchase 3 months to 3 years.


5 things immediately happen when you delay your purchases:


  1. You save money!  

If you delay a purchase of a car or TV you create leverage for negotiating a lower price or the provider sells it as a discount because it has now become inventory.


Think about it, most every purchase you make can be made at a later date.


If now in October you wanted to buy a vehicle but waited 3 months you would encounter first of the year savings that dealerships have EVERY year.  If you delay that same vehicle purchase 3 years you can buy it certified pre-owned with a warranty and save 30-40% and still have the vehicle certified with a warranty.


Want a new TV? Wait 3 months for the post-holiday sale that will inevitably bring a lower price for the very same television.


That’s just 2 examples!


  1. You protect yourself from unexpected life costs.

Car trouble, childcare, an illness or other new development.  


  1. You learn how to ‘live without’

— an increasingly precious skill that gets tougher to master the more money you make.


  1. You learn how to appreciate the item you actually want to buy.  

You’ve worked hard, earned it, created savings, still want it, and now you can enjoy your purchase.  Beyond the purchase, every time you use your item you remember the resolve and restraint you had in making the purchase.  That’s what I call celebrating a win!




  1. You’ll realize you actually do not need or want the item you thought you did.

Now you have even MORE money than anticipated. You can do something different, such as start saving for a house or take that vacation you’ve always wanted.


The next time you celebrate an increase in income or savings, and you find something you really want, DELAY the purchase.  Save money. Give yourself protection from the cost of life. Learn to live without. And appreciate the purchases you DO make.