Money Lessons You Can Learn From Donald Trump - SavingAdvice.com Blog - Saving Advice Articles
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Money Lessons You Can Learn From Donald Trump

By , January 27th, 2016 | 4 Comments »


Money Lessons Donald Trump
Donald Trump has obviously been in the spotlight more often in recent months. Of course, he is known for his success in the business world, his show “The Apprentice,” and more recently his unorthodox presidential campaign. While he has a lot of valid (or crazy) points throughout his campaign, there are a few lessons we can take from Trump when it comes to money and money management.

Bankruptcy

If anything, Trump has taught those who look into different companies for investments to look beyond the headlines and deeper into the company. Although Trump has never personally filed for bankruptcy, plenty of his businesses have, even though he is one of the most successful people in America. This money lesson is a hard one. It is a reminder that sometimes failure is one of the steps along the path to greater success. It is a hard lesson to take, but it is sometimes necessary.

Love What You Do

You have to love what you do. If you are passionate about it, you are more likely to be successful. You shouldn’t just join any industry or invest in anything simply because it is a “hot” item or company. You should invest you time and money because you truly care about it. If you are not passionate about your investments or even your job, sometimes you can let the smallest things slip (because you don’t care). These things can lead to a loss of a job and even demotions — two things you definitely want to avoid if you are trying to get your finances set straight.

Negotiation

Whether you are negotiating the price on a house or a pay raise, do it in person. This is something Trump strongly believes in. Obviously in the age of technology in which we all live, this one is hard. Sending an email or having a phone call with someone seems so much easier, and it is. However, negotiating face-to-face can really change the results you receive.

You Have Control of Your Finances

If Trump has taught anyone anything about finances it is that you are in control. He is obviously financially independent, but it took a little while to get there. There is a lesson to take away here though. In America, once you’ve achieved financial independence, you really don’t have to answer to anyone. Trump is definitely proof of that.

Work Hard

Trump has often said that everyone he knew who was successful worked seven days a week. You may have to put in extra work to get the money and results that you are looking for. Working hard is something that you’ll hear from just about everyone, not just Trump. Continuing work a couple of extra days each week will likely lead to success in the workplace, raises and more money.

Use Your Resources

If Trump has done nothing else as an American, he has certainly used every resource available to him to get where he is today. He’s been able to successfully navigate the legal system and use each and every resource available to him (and every other American) to his advantage. Many other people can take advantage of the plethora of tools available to them. That means just utilizing small and simple things like 401(k) and tax deductions on investment accounts.

Luck

There’s no such thing as “luck” when it comes to your finances. You don’t get lucky. As Donald Trump has said time and time again, “The harder I work, the luckier I get.” Of course, it is the hard work getting him places and not the “luck.”

Photo: Flickr: Gage Skidmore

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Comments

  • Alexa Mason says:

    I am personally not a fan of the man, but there is no doubt that he knows how to work money to his advantage, which might be something the country could benefit from right now.

  • James says:

    I love Trump. They guy has great stuff to say and I really hope he wins the Presidency.

  • Steven says:

    Trump is businessman like every us businessman should be. This country is built by this kinda of man. He is bit a gambler but if you are not ready to risk you are not ready to win.

  • American people as a whole,I about do not believe understand what this all means. There is one thing about it,Trump sure does and I do believe he can pull us out, if he really means what he is saying. I never used to like the guy, but the more I learned and investigated him, the more I admired him.He could teach you a lot about business.

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