Jaspreet Singh

And by majority, it depends on which study you read.

It's somewhere between 55% and some people say as high as 78% of Americans have no money left over for a gift, a vacation, let alone an investment after I just pay my basic necessities.

And now the problem and question everyone has is why and how do I get out?

And in order to get out, because that's your question, you have to understand the why.

Because the reality, and this is going to sound harsh, but I learned this the hard way.

Our system is so rigged for the rich and the financially savvy, but we're never taught to be financially savvy.

What do I mean?

When you understand money, it's much easier for you to get that money and grow that money.

When you don't understand it,

You're the one that's making everybody else rich.

So in this system where you are working to make money and spend money, you're working to make everybody else rich except yourself.

Why?

Because the majority of America and really the world now is I make money and I spend money.

And every dollar you spend is a dollar going into somebody else's pocket.

And in our society, we live in what's called a credit-based economy.

What that means is if I make $100 from my job, I have the ability to spend that $100 plus more thanks to Visa, Amex, MasterCard, Discover, and all the other forms of debt out there.

And so if I go out and spend $100, I'm going to make you $100 richer.

If I spend $100 plus $50 on my credit card, I just made you $150 richer.

And so when we live in a society that's built around spending, but more specifically credit-based spending, and you don't have that shield, that financial education, that financial savviness to know what to do with your money, well now every corporation in the world, every bank in the world is going to hire the smartest marketers, the smartest MBAs to get you to spend your money there because that's going to make them rich and you are going to work.

just to pay bills, just to make them rich, and now you never have a chance to get ahead.