Who are you?
Bobby is the host of “2 Minute Finance”, a YouTube web show that covers personal finance topics and consumer advocacy topics. He talks all about understanding the consumer system, how to use it to your advantage, and life hacking your money.
What does life hacking your money mean?
For Bobby, life hacking your money means that you have to figure out what your place in the capitalistic system is. Whether you’re going down to the corner store and buying something, or you’re working in a company, where do you provide the most value? Once you realize that and realize where you can add value, you can figure out how to hack the system and make it work towards your advantage.
Bobby says that a basic example as a consumer would be to ask yourself what the pricing system is for a store you frequent. Do you know their sales cycle? Do you know when their items go on clearance? Will they restock certain items after the sales cycle? If you know those things, you can take advantage of the pricing and get your goods at their absolute lowest price. It’s all about understanding the system.
What would be an example of a system?
Bobby says that part of life hacking your money is understanding the system. An example of a system is when people learn how to take advantage of travel rewards, also known as travel hacking. These people figure out the best airlines, seats on those airlines, and more, just to fly for free or cheap.
When you start to analyze office, departments, and how a process works for a company, you can start to figure out the value in what they have to offer.
How can a business owner provide more value for the consumer?
Bobby believes you are only as good as the community you live in. Because of that, it’s important to help out your community. When you have a piece of information, you need to help out your fellow community members because when everyone has a better financial life, a better economic situation, everyone will prosper and benefit.
Bobby also says that you shouldn’t be afraid to put your ideas out there. It may seem taboo, and you may think someone could steal your idea and run with it, but it’s not true. It takes a lot of work and effort to steal an idea from someone and keep it going long enough to make a profit from it, so many people don’t put in the effort. In the end, kindness, and community building go a long way.
It’s a matter of matching yourself up and doing that research to finding those opportunities for yourself. And then if you do, share that with others so they can help themselves and become upwardly mobile.
Let’s talk a bit about “2 Minute Finance”
For “2 Minute Finance,” one of the principles for the past 10 years is the idea that it’s really not about profit, it’s about getting the information out there. When Bobby created the “2 Minute Finance” videos, he wasn’t charging for the information that they contained. He found that Kindergarten through 12th-grade students was one of the biggest audience groups with the highest need of the information he was providing. Because teachers don’t have financial literacy information or the correct support at their disposal, they don’t have time to go through that.
So, Bobby realized that the financial literacy videos he created were being shown a lot in those classrooms. And he considered that very fulfilling to know. It also provided him a great opportunity to figure out how he could address that specific market.
In “2 Minute Finance”, Bobby says that you figure things out. When you put yourself out there and you’re selfless and trying to help others, you figure out opportunities that come up along the way.
Where can listeners go to find out more about you?
Resources that are mentioned or add value to this episode:
- Persuade To Profit
- Make Money Your Honey Book
- How To Earn $50k as An Influencer Webinar
- The Make Money Your Honey Guide to Travel Hacking
- The Aspiration Summit Account
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