Money Matters

One of the most interesting things I learned from the individuals I knew who became billionaires is that they considered every dollar to be valuable. Money was a means to advance their goals – in particular, the goal to become wealthy. And you don’t become wealthy by being careless with any amount of money.

I’ll give you an example.

About 15 years ago, I was working with a successful hotel magnate who was opening a convention center. One of the things that had to be installed was an industrial dishwasher – and, at the time, industrial dishwashers retailed for around $40,000.

Millions of dollars were being spent, so you’d think he would have just given his team a quick okay to go ahead and make the purchase.

But no. Experience had taught him that rebuilt equipment was just as good as new. So he had his team do some research to see what it would cost for a rebuilt dishwasher (same make and model).

They found one that was selling for $7,500, and they snapped it right up – for a savings of $32,500 that could be allocated elsewhere.

You should do the same, whether you’re dealing with your business, family, or personal budget. You should always be looking for ways to spend less (or not buy at all). Because every dollar adds up, especially when your goal is to be wealthy.

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Bob Cox

The Billionaire In You is a system of principles developed from Bob's unique experience being involved with four Billionaires over the past 30 years. As co-founder of the world's first Home Shopping Channel to working with the largest privately owned hotel chain in the Southeast Bob has answered the question: How can it be that a group of people in the same city, with the same education, opportunity, upbringing and starting bank balance make riches beyond their dreams - and others do not? Answer: They used a system, which set them apart from the crowd! Bob is an author of Flip the Success Switch, motivational speaker and independent Business Consultant who enjoys bowling, golfing and flying. He has a private pilot's license and owns his own Diamond DA-20 airplane. Bob holds 2 world airspeed records with the National Aeronautic Assoc. (NAA) and Federation Aeronautique Internationale (FAI).