A Review of Get More Money Now
John Layfield’s book “Have More Money Now,” which was published in 2003, caught my eye years ago when he had been on CNBC giving financial advice and even contributed to Fox News. John Layfield is also known as JBL and was a professional wrestler; it was different to see a professional wrestler in a suit giving a serious comment on finances.
Layfield’s story is a bit different. He never had to get out of debt, but he did not have much money for many years. In fact, there were many times when I had no money. When he had to stop playing soccer, he turned to professional wrestling. However, wrestling for him was far from the glamor seen on television. They paid him $ 3.00 for a match at the start. Sometimes he would win $ 10.00 or $ 25.00 for a game. It gives a great account of the struggles he went through while trying to make it big in the wrestling business.
John Layfield does not mention in his book whether he consciously made decisions when he was younger that kept him from accumulating debt. You just didn’t spend money you didn’t have. As he says many times in the book when referring to delayed gratification “have when you have.” If I had to live in a tent or have no heat, I would. He only bought what he needed with the money he had. Many of the promotions he worked for would provide him with some kind of meager accommodations while he fought for them, but he wasn’t making much money at the time. By living only on the money he earned, he saved himself from the problems of accumulated debt.
Some of the lessons learned in “Have More Money Now” by John Bradshaw Layfield
-Forget the past. Focus on the future. Whatever happened in the past cannot be changed. Instead of sweating over what you should have done, focus on what you can start doing now. How can you reduce your expenses, increase your income, or increase your financial education?
-Don’t be average. Do what interests you and excel at it. If you are doing what you want to do, you will work much harder, and that passion dramatically improves your chances of success.
-Gratification delayed (“Have when you have”) Layfield stressed “living within his means” many times and he certainly practiced what he preached. For years he struggled to earn enough money just to buy the basics. Even though times were tough, he never got into debt buying things he just wanted. Part of your success came from avoiding the debt trap.
-Poor choices and behaviors will cause debt. Layfield says, “The key to getting out of debt is to stop getting into debt first.” Old habits tend to lead you to spend more than you should.