#027 – The Money Game

By: Ryan Greiser, CFP®

Read Time: 6 minutes

Last week, I read Justin Welsh's newsletter about mastering the social media landscape. It struck a chord with me, but not just about social media. It made me think deeply about the parallels with finance—thus inspiring my take on "The Money Game."

If you're here on X, you're part of the Social Media 'Game'.

Everyone is trying to move levels as fast as they can, but most people have no clue what they're doing.

If you figure out how the game is played, your life changes dramatically.

Most of you won't. But you'll try…

— Justin Welsh (@thejustinwelsh) February 16, 2024

Welsh talked about an elusive 'big club' in social media, a metaphor that resonates just as powerfully when we shift our focus to money and wealth. On the financial front, this 'big club' represents the wealthy elite, those seemingly holding the keys to financial wisdom and success.

This isn't just about envy or aspiration.

It's about recognizing how the financial industry often gears its services towards this exclusive club, leaving average families in the dust. Most financial advice and services are tailored for those already on solid ground, widening the gap between the average American family and true financial empowerment.

It's a sobering thought.

The notion that there's a world of financial strategies and insights, often just out of reach, can be discouraging.

Understanding the game is the first step towards changing the narrative.

"The Money Game"

Navigating personal finance is more than just crunching numbers. It’s a game. And if you can’t figure out how to play the game, chances are you’ll never excel financially.

But here's the truth: You can do more than just play the game, you can win.

The game is played at different levels. Each one requires new skills, knowledge, and strategies to propel you forward.

Today, I'm unveiling the strategies and insights that have transformed my financial journey – and can change yours too.

Let’s dive in.

Level 1: What the Hell Am I Doing?

Welcome to the starting point of "The Money Game," where it feels like you're trying to decipher a foreign language. It's the "What the hell am I doing?" phase, and believe me, you're in good company.

Every successful person in managing their finances started somewhere. Remember, no one starts out with a full understanding of financial management.

Right now, you might feel bombarded with financial advice from every direction—invest in stocks, buy crypto, get a portfolio of rental properties.

It can feel like standing at a crossroads without a clear sign on where to go, making it tough to know where to begin.

Imagine the consequences of inaction: missed opportunities for growth, unnecessary debt, or just being a stagnant. This chaos of social media financial gurus can lead to decision paralysis.

The best thing you can do at this level is figure out how to get out of it as fast as possible.

Here’s what I suggest to focus on → pinpoint exactly where you stand financially.

There are four key areas to focus on:

1. Building a Balance Sheet: This is your financial snapshot – what you own versus what you owe.
2. Calculating Your Net Worth: It's your financial scoreboard. Knowing this helps you track progress over time.
3. Understanding Cash Flow: Recognize where your money comes from and where it's going. This insight is crucial for managing your finances.
4. Knowing Your Credit Score: Your financial reputation that affects your borrowing power. Keep an eye on it.

When I started, I was clueless about all four.

I didn't know my net worth, let alone how to manage my cash flow or the impact of my credit score. It was a wake-up call to take charge, learn, and apply these basics. This isn't about mastery from day one but about understanding your financial landscape.

To manage these financial basics effectively, I use Monarch Money.

This app tracks my balance sheet, net worth, cash flow, and credit score all in one place. It simplifies the complex, making it easier for me to understand my financial standing and make smarter decisions.

Whether you’re beginning or aiming to improve your financial health, a tool like Monarch Money can be incredibly helpful.

Moving Forward: It's time to drop the excuses.

The market, the economy, your busy schedule—none of these are the real barriers. It's about taking that initial, critical step yourself. Observe those who've mastered their finances. What habits have they adopted? Which tools are they using?

Mimicking their strategies isn't just smart; it's a tried-and-tested way to advance your own financial journey.

Level Up Tip: With a clear understanding of your financial health and the tools to track your progress, you're ready to level up.

It's time to move from simply knowing where you stand to actively enhancing your financial well-being, leveraging your newfound clarity to build a stronger financial future.

Level 2: I’m Figuring This Out On My Own

You've navigated the initial confusion and are now on firmer ground, ready to dive deeper into your financial journey. Welcome to Level 2, where the focus shifts from foundational understanding to strategic execution.

Power Up #1: Frameworks, Systems, and Habits. Effective money management goes beyond occasional big moves; it's built on strategic systems and habits.

It's time to dive into key areas that will solidify your financial health:

1. Cash Flow System: Mastering where your money flows every month to enjoy life sets the stage for all else.
2. Eliminating Debt: Strategies to reduce and eventually eliminate debt, freeing up more of your income.
3. Automating Savings and Investing: Making saving and investing effortless to bring you closer to financial independence.
4. Investing for the Future: Understanding the best ways to grow your wealth over time.
5. Understanding Taxes: Learning how to efficiently manage taxes to retain more of your hard-earned money.
6. Protecting Your Wealth: Ensuring your assets are safeguarded against unforeseen events.

These elements are crucial for building a financial system that works for you, each with the potential to significantly impact your journey to secure your financial future.

Power Up #2: Lifestyle and Community. Before diving into the tactical, take a moment to reflect on the bigger picture. Ask yourself who you want to be, what you want to do, and what you want to have. Your financial decisions should support these aspirations. Surrounding yourself with like-minded individuals or mentors who have walked this path can accelerate your progress.

The Real Secret: It's not just about accumulating wealth but about building a lifestyle aligned with your values and dreams.

I had a chat with a client who's doing great financially and has a passion for cars. He's also focused on securing a bright financial future. Rather than buying a $200,000 Lamborghini to drive just on weekends, he chooses to rent one for a week during his vacation.

This way, he enjoys the thrill without the hefty price tag of owning one. It also allows him to experience different cars throughout the year, adding variety without the commitment. 

A tiny decision in a client planning session sparked a big idea for this car enthusiast.

Why not rent luxury?

For $1,719 a week rent a @Lamborghini on vacation.

Smart luxury is about choices, not +$150k liabilities. pic.twitter.com/FUB6Q82vzA

— Ryan Greiser, CFP® (@ryanOpulus) March 15, 2024

Whether it's through networking, personal relationships, or social media, connecting with others on the same journey or a few steps ahead can provide invaluable insights and encouragement.

Moving Forward: Armed with a deeper understanding of the key areas you need to focus on and the support of a community, you're well-equipped to take on more advanced challenges.

The journey from here is about refinement, growth, and enjoying the journey towards financial mastery. Let’s take make the jump to the next level.

Level 3: Using Leverage To Move Levels Faster

Now, you're not just playing the financial game; you're strategizing to win.

Using your leverage effectively means recognizing where your time and effort yield the highest returns.

Why I Choose Experts: Take it from me—hiring professionals like landscapers and accountants isn't just about outsourcing tasks; it's about optimizing life.

I'm fully capable of doing these jobs, but they excel at them, allowing me to focus on what's truly important. Spending quality time with my family, engaging in work I love, and maintaining my health are priorities that these decisions support.

It's a strategic move that ensures I'm investing my energies where they matter most.

Automating Everything You Can: In today's world there is no reason you should not automate as many financial tasks as possible.

From scheduling bill payments to managing weekly investments, automation streamlines your financial operations. This isn't just about convenience; it's about freeing up your most precious resource — time.

By automating mundane tasks, you reclaim time to focus on who you want to be, what you want to have and what you want to do..

Evaluating and Adjusting: Winning at this level requires continuous self-assessment.

Identify your strengths and celebrate them.

Recognize areas needing improvement and decide how best to address them. Is it through personal development, or is delegating the smarter choice? This ongoing process is key to not just growing your wealth but enhancing your life's quality in every aspect.

Leverage your strengths and outsource when beneficial.

This could be a landscaper, accountant, financial advisor, or any other professional that frees you to focus on your passions, relationships, and health—truly winning "The Money Game."

Conclusion:

Unveiling the intricacies of "The Money Game" might challenge your current perspective, but that's the point. This challenge is not unique to personal finance; it's a universal principle.

Champions in every field know the value of systems, habits, collaboration, and delegation.

Athletes work together as a team to clinch titles. Musicians unite for chart-topping hits. Entrepreneurs band together to innovate and disrupt. Actors and filmmakers collaborate for cinematic masterpieces. Designers and stars set trends together. Authors merge talents to captivate readers worldwide.

Understanding how to navigate and leverage the financial landscape is crucial.

Now that you've glimpsed behind the curtain, a question remains:

Are you ready to play the game?

P.S. For those who want to dive into our frameworks and systems, checkout our course, Opulus Method. It offers an easy an proven system to secure your financial future and enjoy life. It's the exact system I've used to pay off $86,000 of student loan debt, launch a business, build a net worth of $1 million by 35, and reduce my financial stress.