Most of America is fucked financially.
Let’s look at some uncomfortable figures:
“Nothing is certain in life but death and taxes.”
I earned over 7-figures in profit during my first year of affiliate marketing.
Lets just say that 23-year-old me didn’t know too much about business. So imagine the look on my face when I realized I had a HUGE tax bill to pay.
I was in the 39% federal tax bracket, and I had to pay 6% on top of that for Georgia taxes. I had no idea taxes were that high in the US.
Seriously….I thought they took the taxes out of my paycheck and that was it!
“Money is my military, each dollar a soldier. I never send my money into battle unprepared and undefended. I send it to conquer and take currency prisoner and bring it back to me. ” Kevin Oleary
“No money, no honey” – T-shirts in Bangkok
I thought I was on top of the world when I hit my first profitable campaign. I put $100 into Facebook, and I made $300 revenue. That’s 200% ROI!
“Would you rather life like a king for a year, or a prince for a lifetime?”
Affiliate marketing is probably the only industry where someone can say they made a million dollars their first year, and no one bats an eye.
The problem is young men and money don’t get along well together. A fool and his money are soon departed so they say.
I had tons of millionaire affiliate friends back in 2009 due to the diet boom. Some of them were able to leverage their money and skills into bigger and better businesses.
Making Money is Easy, Keeping It is the Hard Part
A key component of your affiliate marketing business is resource management, and the most important resource is your cash.
We can all agree that understanding your finances is important, but affiliates are horrible when it comes to good financial practices.
Let me ask you a quick question: how much did you make last year in Quarter 2?
I saw two status updates on my newsfeed earlier today.
The first person wrote “Money can’t buy you happiness.”
A few minutes later someone else updated with, “Anybody tells you money is the root of all evil doesn’t fuckin’ have any. They say money can’t buy happiness? Look at the fuckin’ smile on my face. Ear to ear, baby.” (this was a quote from Boiler Room)
They both represent extreme sides and neither is correct.