“let compass be your guide. Learn Strategies, Insights, and Tools for a Prosperous Future.”
Completely 100% free course by David Quinteri, transcribed here for readers, and available in video format at the link at the end of the post.
Section 1: Where the Journey Begins
One. Welcome to Compass. Your Financial Journey Starts Here.
Welcome to Compass. Your financial journey starts here. You either master money or on some level, money masters you, Tony Robbins. With Compass, you’ll know how to navigate through this complicated financial world. You can always come back to it, wherever you are on your journey, and make your way to the next step. You’ll never be lost as long as you have Compass. My name is David Quinteri, and I’m an author. My investing strategy, money mirror method, has been featured in Bloomberg, Business Insider, and Market Watch. My videos have been seen over 100 million times online. My e-commerce business has products that have been featured on the Today Show, CNN, USA Today, and more. With this program, you’ll be able to know exactly where you are and where you need to go next. All of the videos are short and specific to you personally. Make a commitment to yourself right now.
You’re going to finish Compass and begin your financial journey. Make that promise to yourself. You can do it. Thank you for your time and I hope that you get the most out of this.
Two. What is the core problem?
There’s a silent financial predator that many of us are facing but few understand. Inflation. Have you noticed how prices of just about everything are creeping up, and your income doesn’t seem to catch up? Well, you’re not alone. This is the reality for the vast majority of people. We hear about inflation all the time on the news, and it’s often presented as a small, manageable increase. But when you look at your bills, your groceries, your rent, or your mortgage payments it seems like those official inflation statistics don’t add up, right? Well, you’re not wrong. The way inflation is calculated can sometimes mask the real-world impact it has on our pockets. The bottom line is inflation is a real problem. It chips away at our buying power, making our hard-earned dollars worth less and less. But my friends, we must not be victims of this. Recognizing the issue is the first step.
Once we acknowledge it, we can take the right actions to handle it and be better off as time goes on.
Three. Why is this happening?
Have you ever wondered where money comes from? Believe it or not, governments and central banks can essentially create money out of thin air. While this might sound like magic, the consequences are far from magical. As more money is created, the value of each individual unit of our currency diminishes. It’s like adding water to a concentrated drink. The more you add, the more diluted it becomes.
This is what’s happening to our money. It’s being diluted, losing its buying power. This inflation isn’t an accident or an unfortunate side effect. Instead, it’s actually a deliberate policy. Governments and central banks might create inflation as a short-term solution to other problems. It’s like using wallpaper to cover cracks in a wall. It might look fine for a while, but the underlying problem is still there.
Understanding this fact is crucial. Inflation is a policy of central banks, but this doesn’t mean that we should throw our hands up in despair. We can equip ourselves with knowledge, understanding, and tools to take advantage of the situation rather than become victims of it.
Four. What is the solution?
Let’s move from the problem to the solution. It’s what I call the Pillars of Prosperity. The Pillars of Prosperity are two core principles that once understood and employed can help us offset the impacts of inflation. They’re like a compass guiding us through the financial wilderness. You can focus more on one or the other depending on your circumstances, but understanding both is crucial. Our first pillar is all about boosting your income. More money can help offset those rising prices. There are many ways to increase your income. Perhaps it’s getting a raise or promotion in your current job, finding a new job that pays more, establishing a side hustle for extra cash, or even buying assets that generate passive income. But it’s not all about making money. The second pillar is becoming more self-sufficient.
If you can cover your basic needs, your expenses decline, providing another way to combat inflation, you might be wondering, how do I become more self-sufficient? Think about growing some of your own food, or installing solar panels to produce your own energy. These are just a couple examples of how self-sufficiency can reduce your expenses. With these two pillars, we have a solid foundation. We’re prepared and can confidently make the right choices since we’re not in a panic. So do your best to build up your income and try to become more self-sufficient. Peace of mind is not far away.
Five. Begin with a personal financial audit.
Everyone must conduct a personal financial audit, but don’t worry, this isn’t as intimidating as it sounds. Depending on your personal circumstances, your approach to financial stability will vary. Maybe you’re dealing with high interest rate debt. Perhaps you’re looking to invest. Understanding where you stand right now is the first step to making better financial decisions.
Let’s start asking some questions that will give us a clearer picture of your financial landscape? Are you currently in debt? If so, what kind? Is it high interest rate credit card debt? A variable interest loan? Or a fixed term mortgage? Do you have a reliable income? And is there room for growth in your current job? Or have you hit a salary cap? What skills do you possess? Can these skills be used elsewhere for better pay? Or maybe even as a side hustle? What about your assets and liabilities. Consider things like retirement accounts, stocks, real estate. These are just a few of the questions you should be asking yourself. I encourage you to write these answers down, creating a tangible breakdown of your financial situation.
A visual representation will make it easier for you to understand your scenario. This personal audit will be a foundational tool as we use Compass to navigate through. Once we know where we’re starting from, we can make informed and effective decisions about where we’re going.
Section 2: Debt
Six. Debt.
Let’s talk about one of the most important aspects, debt. Our monetary system is actually based on debt. If we don’t manage it wisely, we’ll be heading down the wrong path. Let’s break it down in this section.
Seven. All About Debt.
If you would like to know how to get out of bad debt, then you’ll need to watch the other videos in this section. If you don’t have any debt, please skip ahead to the next section, all about jobs.
Eight. Do You Have Bad Debt?
If you would like to know how to get out of bad debt, then you’ll need to watch the other videos in this section. If you don’t have any debt, please skip ahead to the next section, all about jobs.
Nine. Debt Consolidation.
An important strategy for managing your debt, consolidation. There are steps that you can take both short-term and long-term to gain control over your debt. Debt consolidation is a method of combining multiple loans or credit card balances into a single payment, often with a lower interest rate. This strategy simplifies your finances and can save you money over time. So how do we go about this? Well, you need to first take inventory of your debts. Identify each one, their interest rates, and monthly payments. There are several free and reputable services such as Mint or Credit Karma that can help you track and manage your debts. Next, consider your consolidation options. These might include personal loans, balance transfer credit cards, or even home equity loans if you’re a homeowner. Each of these options has pros and cons.
Personal loans can offer lower interest rates than credit cards, but will likely require a good credit score. Balanced transfer cards can give you a period of 0% interest, but watch out for those transfer fees. Home equity loans can provide low interest rates, but your home is at risk if you can’t make payments. Once you choose an option, apply for the loan or card, and if approved, use it to pay off your other debts. Now instead of multiple payments, you have just one.
But remember this isn’t a quick fix. It’s a long-term strategy. Your goal should be to pay off this new debt as quickly as possible without accumulating new debts. Debt consolidation can be a powerful tool when used wisely. As always, it’s important to research your options carefully.
Ten. Debt Avalanche.
This is a strategy to conquer your debt mountain, the debt avalanche. Let’s look into why and how to use this strategy, and I’ll guide you through the steps. The debt avalanche method is a powerful strategy where you prioritize paying off your debts from the highest interest rate to the lowest. The reason that this can be so effective is because you tackle the most costly debts first, potentially saving you a lot of money over time. So how does this work?
First, list all your debts, from the highest interest rate to the lowest. You’re going to continue making minimum payments on all of your debts, but any extra money that you have goes towards the debt with the highest interest rate. Once you’ve paid off the debt with the highest interest rate, you move on to the next one in the list. Rinse and repeat until all of your debts are paid off. Why is this called a debt avalanche? Because just like an avalanche gathers momentum as it rolls down a mountain, you gain momentum as you pay off each debt. The money that you were using for the previous debt is now used to tackle the next one, allowing you to pay it off even faster. The debt avalanche strategy requires discipline and patience, as the results may not be immediate, especially if your highest interest rate debt is also one of your largest.
However, in the long run, it can save you both time and money.
Section 3: Jobs
Eleven. Jobs
Your primary income is how your bills are getting paid, but we need to maximize our working hours as best we can. In this section, we’ll discuss how to get the most out of your current job, or potentially finding a job with better pay. Let’s work through it.
Twelve. Keeping Your Old Job.
Let’s take a look at an underexplored route, boosting your income without changing your job. Let’s navigate how you can improve your salary and create more value in your current position. First up, let’s talk about KPIs, or Key Performance Indicators. Every job has some form of target to hit, even if it’s not explicitly sales-oriented. It could be boxes on shelves or windows washed.
The key is to identify these targets and find ways to exceed them. The process is simple. Calculate the numbers based on your previous experience. Then suggest a method of improvement. Once you’ve proven that your method works, bring this to your employer’s attention. If your improved performance leads to increased profitability or efficiency, your employer will have a strong reason to consider a salary increase.
And if they don’t, well, this becomes a fantastic point of negotiation with other potential employers. Next, look internally. Many opportunities for advancement are right within your company. Consider shadowing somebody in a higher position or in a different department. This could be done during lunch hours or break times. It’s about learning new skills and showing initiative. And remember,
Many companies offer internal training or they might even be willing to pay for external training programs if it means improving your value to the company. By increasing your performance and expanding your skill set, you make yourself an indispensable asset.
Thirteen. Getting A New Job.
Let’s take a new path, finding a new job that pays more. Let’s plot out how you can navigate this exciting route. Start your journey on job search websites like Indeed. These platforms host a wide range of job postings and can be a great resource to get a sense of what’s out there. Next, tap into the power of LinkedIn. This platform can be an excellent tool for networking.
learning about new opportunities, and even connecting directly with potential employers. Here’s a pro tip. Interact with the right people on LinkedIn for a couple weeks before reaching out. Comment on their posts. Engage in discussions. And then send a private message proposing how you could bring value to their team. Remember, your value isn’t just your existing skills but your potential to grow and adapt. Show your passion and your willingness to learn and improve. And don’t forget, you can always use an offer from a new company as leverage with your current employer. They’re often keen to retain staff because of the cost to train new employees. Networking events, industry conferences, or even reaching out to companies directly can be great ways to seek out new opportunities.
Diversify your job search strategy to increase your chances of finding the best fit. Remember, it’s about exploring new territories, taking the right steps, and choosing the route that leads to your financial success.
Section 4: Side Hustles
Fourteen. Supplement Your Income.
If your primary income isn’t keeping up with your expenses and you’ve done everything that you can to increase your salary and seek new job opportunities, you may need to find a side hustle. Let’s talk about side hustles in this section.
Fifteen. Increase Your Income With A Side Hustle.
We need to explore the realm of side hustles. A side hustle can help you earn extra income while you maintain your regular job. This way, you mitigate the risks as you still have the same earnings. Let’s start by looking at your existing skills. The easiest way to get a side hustle up and running is by monetizing skills that you already possess. This approach means no learning curve, no time wasted, and the potential for quick profit.
But what if your current skills aren’t easily monetized, or you want to try something new? Well, that’s where learning new skills comes in. There are countless online and in-person resources for learning new, profitable skills. It’s all about finding what suits you and what you’re passionate about. Now, let’s look at some examples of online side hustles. One could be building a personal brand. This could be a blog, a YouTube channel.
or an Instagram page dedicated to a particular interest or skill. Another option could be affiliate marketing, where you promote other brands and earn a commission on sales made through your links. This could be on your social media platforms or through something like Amazon’s affiliate program. And let’s not forget the physical in-person side hustles. These could be anything from washing windows to detailing cars, meal prepping for busy individuals, or dog walking in affluent neighborhoods. The side hustle doesn’t need to be something that replaces your current 9-5 job. It can be a way to turn a passion into income. It can be something that you do in your spare time. Just think outside of the box and give it a try.
Sixteen. Selling On Amazon.
There are only 24 hours in a day, and everyone is confined to this time limit. What we do with that time is based on our work schedule, our personal obligations, free time, and of course, sleep. The only way for us to actually make more time is to scale. When we have an asset that is scalable, we effectively create more time. If we can sell products in our sleep, we’re no longer earning based on time, but on the principles of scalability. I learned about Amazon in 2017, built and scaled my business with my products being featured on the Today Show and more. While my income has increased, my time working on the business has decreased. Most of the effort is done upfront and the scale is done using Amazon systems. I built an entire step-by-step course, teaching everything about Amazon and e-commerce, and over 10,000 people have joined. You can learn everything about building this scalable asset right at the link. Take a look :
Section 5: Investing
Seventeen. Financial Education.
With inflation silently stealing your hard-earned savings, it’s essential that we invest to not only keep up with inflation, but to hopefully grow beyond it. We need to have a good understanding of how money works, or we won’t be able to ask the right questions. There are many types of investments, and I want to break them down for you in this section.
Eighteen. 4 Asset Classes.
Each type of asset has its own benefits and drawbacks. And if we want to be on a successful financial journey, we need to know the details, right? First stop, real estate. Now, this is a favorite of many savvy investors. And here’s why. Real estate gives you four ways to earn. Appreciation, depreciation, amortization, and tax benefits. Try finding another asset that works that hard for you. Moving on, we have what are broadly known as paper assets – They’re the kind of investments that you can just set and forget. They don’t need much fussing over. One thing to remember though, borrowing against these can be a bit tricky during a crisis. Next up, commodities and precious metals. You can actually touch these. They’re real, tangible things that industries need to operate. Speculators might make the prices go wild now and then, but the physical stuff always holds value. And lastly, we have my personal favorite, business. It’s a hidden gem, really. You start with just an idea and some hard work. And before you know it, you’ve got a valuable asset that you can shape and control. Sell it, outsource it, enjoy tax advantages. The world is your oyster. Remember, the goal here is to diversify. You spread your investments across different types of assets. That way, you minimize risk.
Nineteen. Foundation.
We need to talk about something really fundamental, understanding the foundation of money. Think of it like building a house. You wouldn’t start off with the roof, would you? You’d start with a solid foundation. The same goes for your financial knowledge. Start with understanding the basics, the history, principles, asset classes. If you don’t have that foundation, everything you build on top of it could be shaky. That was the idea that sparked my first book, The Money GPS.
It’s not just a guide to personal finance. It’s a journey that takes you from the basic principles of money to financial planning, investing, and beyond. My goal was to create a book that cuts through the complexity and gives you the knowledge that you need to take control of your financial future. The most important discovery I have made over the years has been to follow the money. You’ve likely heard this before, but in the way that I have outlined,
it’s a very clear indicator of what’s to come. Follow the money and you know the trend. Thousands of people have read my books and as a result have learned that by tracking the central bank activities, we can be way ahead of the curve in a time when information is flowing so fast. Learning how to build a foundation of knowledge will help many years down the road.
Your wisdom will show up with better decision making because you fully understand what’s going on. You need to read books, listen to audiobooks, and be part of groups with like-minded individuals so that you can get ahead and stay ahead.
Twenty. Liquidity.
We’ve tackled the big picture of asset classes, and now we’re going to zero in on something that’s really the backbone of successful investing. I call it the money mirror method. It’s all about understanding and tracking liquidity. So what exactly is liquidity? Picture a river flowing with cash and assets that can be quickly converted into cash. That’s liquidity, the lifeblood of our financial system.
It’s the money that banks, investors, and you and I have at our disposal. Now, this river of money can rise or fall based on several factors, but we’re going to focus on three big ones. The Federal Reserve’s quantitative easing or QE. That’s money printing. The balance of the treasury general account. That’s like the checking account of the government. And the last one, what the Federal Reserve calls reverse repos.
a fancy term for buying and selling assets between them and the banks. So how does the level of this liquidity river affect our investments? Think of it this way. When the river is full, when there’s more liquidity, banks and other investors have more money to go around. And where does a lot of that money go? You guessed it. Into the stock market, real estate, and risk assets.
pushing prices up. But if the river runs low, if liquidity decreases, there’s less money for investment, which can cause prices to fall. This is the essence of the money mirror method. It’s a way of understanding the ebb and flow of money in our financial system. And when you understand that, you can make smarter investment decisions instead of just blindly following the latest trend or hot stock tip.
Twentyone. Financial Advice.
Inflation is always a concern as central banks devalue our currencies. We need to invest not only to keep up with inflation but hopefully to grow beyond it. It’s important to use the best resources that we have in order to make the right decisions. And that includes information perhaps we would disagree with. I’m always asked the question of what I should do about investing. Should I invest in stocks? How do I go about estate or retirement planning? Regardless, it is important to do your research first.
Don’t go about it alone. In my personal journey, I spent every waking hour reading book after book after book of financial history, every moment in travel, listening to audiobooks. You have to look at the 30,000 foot view. You have to look from the top down. It’s important to see the bigger perspective before investing. I’ve been helping people understand their finances for well over a decade. But as one man, there’s only so much I can do.
I finally found a company that I can collaborate with that will be able to help people at scale. It’s called Money Pickle. Yes, I said Money Pickle. It’s clear to me that this is a fantastic opportunity for everyone going through Compass to get on right away. And I’ll explain why. Money Pickle is a free financial help desk. Everyone just needs to click on my link, get an appointment set up and a certified CFP and or fiduciary will give you a completely free 45 minute consultation. No obligations whatsoever. They are there specifically to help you in that 45 minutes. If you need more of their services, you can always arrange that with them. But it’s completely free. So why not take advantage of it and get a second opinion on your financial situation? A fiduciary means that they are legally obligated to have your best interest in mind. This is an important distinction between a financial advisor from your bank. These advisors go through a strict vetting process and only the best CFPs and fiduciaries are on their platform. Now I had questions and they had answers.
The free call must not just be a complete sales pitch. They are required to help you. And at the end, they will ask for your business. But again, no obligation. Click my link and use the calendar to book the day and time that works for you. Don’t say you’ll do it later. Do it now so you won’t procrastinate. You want to achieve your goals. You made that commitment. So take advantage of an offer when it comes through.
https://moneypickle.com/themoneygps
Section 6: Next Steps
Twentytwo. Mentorship.
I didn’t have a mentor growing up. I didn’t have a business to take over. No assets to manage. I began my journey at the age of 21, bodybuilding. I went from weak and scrawny to strong and built. During this time, I began to read everything I could, devouring books and audiobooks. Over the years since, I’ve built multiple successful businesses and have helped people achieve their goals, too.
I do a weekly small group call over Zoom and get people on the right path to setting and then achieving their goals. If you want to build a scalable business or have a financial goal that you want to achieve, you’ve come to the right place. You can direct your compass to the mentorship group. If you would like to know more, check out the link. I’ll see you there.
https://themoneygps.com/mentorshipinfo
Twentythree. Now What?
Thank you for taking the time to invest in this program, Compass. Understand what your personal situation is with the financial audit. Know what needs to be taken care of first and begin right away. Don’t delay. Don’t procrastinate. You can speak to me directly on Discord. I’m on there daily communicating with the thousands of people that are in there. You can also see me on every social media platform. Compass guided you on your journey.
But it’s not over yet. In fact, it’s only just begun.
David Quinteri 2023
Above transcription from the Video course :
https://themoneygps.com/compass
David’s YouTube Channel :
https://www.youtube.com/@TheMoneyGPS
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Disclaimer
Disclaimer – This is creative writing, for the purposes of freedom of expression and shared connection, in the realm of the divine via communication, you know, art. If you take offense to anything herein, then I suggest you may be the intolerant, bigoted, hateful, ideologically possessed, sinful, undiverse, uninclusive, extreme, misinformed, uninformed, propagandised one, not I. But who knows I could be wrong, I have been before, and will be again.
“to err is human; to forgive, divine” – Alexander Pope
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