Why We Buy Materialistic Stuff (Business Write-Offs) - YouTube

hello everybody and welcome to another episode of ZGN Talks today we talk about why

we buy materials and goods such as this rolex explorer 2 to this Rolex Submariner

right here this ordering right here and how the things really provide benefits

to us now real quick before the video starts off go ahead and click the like

button it really helps grow our channel and we really appreciate those that do

it allows us to keep making these videos and producing this content for you now

while we do buy sir materialistic goods there's a big difference between

spending on the stuff that will bring you value and spending on stuff that is

pretty much unhealthy for you and I call that unhealthy spending habits and a lot

of people don't know how to properly spend their money many people live

paycheck to paycheck and they refuse to spend the money on goods that benefit

them good examples of this are books certain courses you know taking certain

educational courses taking a certain trip or you network with people that

will bring you benefit maybe even putting your money into the stock market

buying real estate properties starting a business this allows you to take your

money and multiply but a lot of people today live paycheck to paycheck and they

spend their money on goods that will not bring them any value in return they will

depreciate they will lose value and then when a hard time such as today comes for

example a recession we saw what happened to the market over the past month and a

lot of people are currently struggling because over the past year they spent

their money on stuff that brings them absolutely zero value this pretty much

leads to people going broke and aside from people not knowing how to spend

their money they also lack credit knowledge so when they spend their money

in an unhealthy way they also don't understand how to use or leverage credit

so leveraging credit is essentially free money but the least you can do ask

someone that doesn't know how to spend their money if that's who you want to

spend your money on aimless stuff well then at least learn credit because that

at least leaves more money in your pocket now the second reason by

materialistic goods is because at the end the day it's part of our business

and well this may sound kind of weird at first you have to understand what

mission I do you know mission I have a consulting business and we do marketing

and the Rolexes and the trips we take the help bringing clients are all

consulting on top of that you know they're also

just a great time so we spend all this money on Rolex and trips and stuff like

this it's actually calculated as a business expense because we wouldn't

really bring in the clients it wouldn't really be you know bringing in marketing

clients the way we do if we didn't take these trips and if we didn't buy stuff

like these Rolexes so at the end the day pretty much what we're doing is we're

trying with credit card points and we're buying watch they don't really

depreciate so what this ends up doing is it's basically we're living a nice life

we're having you know nice watches and at the other day we're not really paying

for any of this stuff so pretty much because we're business

owners that forces us to spend our money with purpose because if you're doing

personal taxes expenses are much different than if you're a business so

for example if you're a regular individual you know working corporate

you don't know business and you take a trip the tax process for that trip will

be much different and frankly you will not be able to write it off as business

owners when we take these trips not only do they count as marketing expenses but

we also get a great time out of donated connections with great individuals to

expand our network and pretty much we're able to write that off on our taxes so

in a sense in these trips bring us purpose they bring us benefit and it

gives us the incentive to take more of them for the reasons I listed before

this now to get more into the specifics of taxes which Millian will shortly be

doing because we are a business as I already stated we get a lot of benefits

when it comes to taxes that personal individuals will not get when they file

their own taxes so take this all with the grain of salt as we said no way

Certified Public Accounts but you know we're giving you guys what we do with

our personal experience and what our CPA allows us to write off now think about

this way if you're the north face or Patagonia and you make a great market

campaign about someone going down a mountain on like a snowboard that trip

is in no way not deductible like that is a marketing expense that they need to

bring in revenue and that's much like our trips and what-whatever all expert

perches allow us to do it allow us to bring it in come have a great time and

you know quite frankly if we weren't to take a lot of the trip some of you guys

may not watch this for instance a lot of like our Rolex video for instant our

channel I believe at this time of recording this has the most views on our

channel so if we didn't get these Rolexes our channel growth probably

wouldn't be where it is today now for example even with our Rolexes we never

really need it to get them but we knew that for taxes we were going o a certain

amount of money and getting these watches writing it off as a business

expense if you have the right CPA to do so that allows us to save a lot of money

frankly we get these watches because in a sense we're not gonna lose money on

them see guys we hope you enjoyed this video go ahead and comment what you

thought about it smash the like button subscribe if you're feeling good today

umm again our Instagram is down in the description below if you have any

questions want to connect or never put those four have any sort of

communication you know where to send the message hope you enjoyed this video and

we'll see you in the next one adios