RICH DAD POOR DAD | S5 – E45 | LESSON VII | OVERCOMING Arrogance

“What I know makes me money. What I don’t know loses me money. Every time I have been arrogant, I have lost money. Because when I’m arrogant, I truly believe that what I don’t know is not important,” rich dad would often tell me.

I have found that many people use arrogance to try to hide their own ignorance. It often happens when I am discussing financial statements with accountants or even other investors.

They try to bluster their way through the discussion. It is clear to me that they don’t know what they’re talking about. They’re not lying, but they are not telling the truth.

There are many people in the world of money, finances, and investments who have absolutely no idea what they’re talking about. Most people in the money industry are just spouting off sales pitches like used-car salesmen. When you know you are ignorant in a subject, start educating yourself by finding an expert in the field or a book on the subject.

Restoring Relationship Trust

Another area that creates huge trust issues in personal relationships is money. As many marriage counselors affirm, money problems are a key cause of divorce. While many such problems are caused by lack of character (selfish or impulsive spending, attempts to control or restrict a partner’s access to shared resources, or efforts to hide spending from a partner), many are also caused by lack of competence (lack of education or experience in money management). In addition, two people coming into a relationship are often scripted in different ways by family experience — for example, one may come from a background of spenders, while the other comes from a background of thrift.

Here’s a story from Stephen Covey’s book

“For years, my husband and I had problems managing our money. We would agree to spend our money in a certain way, then he would come home with some new thing we hadn’t agreed on. It was very frustrating, and I eventually withdrew emotionally as a financial partner.

Over time, however, we both came to realize that this situation was negatively affecting the trust in our relationship, and we decided to change. He worked on being more responsible to act based on our agreements; I worked on expressing my opinions better and participating more fully in financial decisions. And together, we became involved in learning more about good financial habits, including budgeting and investing.

It’s taken quite a while to shift old habits, but through it all, we’ve become amazingly close and more unified in our financial values, goals, and habits. In fact, I’d say that now financial units is one of our strengths. Doing something together that was this challenging has created even strong bonds of trust in our entire relationship.

The Latest Technological Trends & Innovations You Should Watch (Longread – 2/3)

The future trend that many people need to keep up with will be data science because the world is moving towards digitization; a world where many users would give their data in return for better services. Therefore, Deloitte suggested that data needed to be free and shouldn’t be like Orwellian like the dystopian novel ‘1984’ that popularised the word ‘big brother’; scrutinizing everyone’s daily lives.  Even giving up on too much information could wipe out the concept of privacy which Deloitte called ‘data sovereignty,’ which encourages the government and technological companies to conserve their users and the government to protect the data privacy by freeing up data. The advantages of using data would make marketing agencies and enterprises become more competitive so they can know more about their customers. As the saying goes, ‘customer is king’ because the market will become more customer-centric and social.

Furthermore, the power of data would make products and services become more customer-centric where it allows the products and services to be customisable as sellers and buyers will be moving and incline towards marketplaces. Chelsea Rustrum once said ‘the future of economy will be the marketplaces as the economy is inclining and becoming more like a big marketplace.’  Therefore, as an employer, you need to empower your employees and give up your rights by giving rights them to your employee. This kind of trend was known as the “sharing economy” or “sharing capitalism” because of Airbnb and Uber, which pioneered giving and sharing. Also, the second generation of startups fully utilised the crowds for funds to kickstart a project  known as crowdfunding.  I still remember my short mentorship with the founder of Crowdsourcing Week, Epi, who showed me the future of crowd-basedbecause of the sharing economy like Airbnb and Uber and the p2p money network, Bitcoin, and its heart of technology that powered Bitcoin and other cryptocurrencies, blockchain, really revolutionised the status quo so that we can do things at a lower-cost and eliminate fixed costs.

This type of trend would disrupt traditional supple-chains where it used to be based on pickup and transporting goods. However, a data-driven supply chain would make things easier and sufficient as customers would pay for goods and services through online payment since there are many financial technologies like Venmo and PayPal (the company that pioneered online payment system), but with the blockchain, which could revolutionise the internet into the internet 2.0, it would make payment systems safer and more trusted by consumers as it would be more safe and unable to be compromised by hackers. Also, blockchain would possibly make huge disruptions to health services. A good example will be Estonia, a real futuristic e-Governance in the making and attracted many digital nomads and global citizens with their e-residency. It was a real inspiration for the Singaporean, Australian and New Zealand governments to have their own e-passports being issued by the government. At the end of the day, data and the cyberspace will be democratised and citizens would fully own their own data and the cyberspace through its decentralised framework of the blockchain.

 

Acknowledge Your Positive Past: Part II – Thank Your Family, Job, & Circumstances

My mother, who took four children in all by herself, did a magnificent job at parenting.

My mother, who hasn’t spoken or communicated with me via voice in 5 years, doesn’t really care about me.

Can you see the difference?

We often times point out the negatives of our past, but it’s really time to start looking at the positives.

I’m going to give you some techniques on how to achieve, but first, this is how you can rewire your brain.

Last Job

So, I was taken in by a job and was given work for 3.5 years.  I had the opportunity to work at about 4 different companies, worked at one of the biggest companies in Thailand, worked at a university (tracing back my roots to this country and close that part of my life off) and saw one of my students’ parents (who speaks excellent English now).  I had the opportunity to teach some brilliant students from one of the best universities in Thailand.  I had projects because a lady believed in my ability and I realized my ability while living there, pushing myself to greater heights by resigning and moving onto the biggest projects of my life.

See, that’s called acknowledging your positive past. 

Sure, I could’ve pointed out all the negative, but all of the negatives were character building moments that set me up for this monumental moment right now.

My Brother

in 2003, there was a bone-head taunting the marching band of Rancho High School.  I sat behind these two thug-spewing neanderthals as they berated the band and threw things at us.  I said, “enough” as I was looking at my friend Carlos.  I removed my hat, walked over to the stairs and made my way up before losing it.  There were a cluster of adjectives coming out of my mouth.

My brother, who had gotten injured playing basketball, was in a cast.  He then said, “ughhh you ain’t gon be talking to my brotha like dat!”  He stood up and people started running over — instigators — is what I call them.

At that very moment, it was a family moment.  It was an older brother protecting his younger brother against the wrestling team of Rancho High School.   How about that?!

Thailand

Nakhon Si Thammarat, I’m going to be grateful for this place.  I went to this province in the south of Thailand in hopes to find my alchemy.  I failed, but I met some wonderful people along the way.  So many of my students from a particular school loved me because I was so charismatic.  I went to a wedding and this lady asked me, “hey, you’re always in a good mood, come fishing with me.” I was approached my two sisters who spoke fluent English.  They recently lived in my Native Las Vegas and worked at a hotel that I would routinely pass by when going to work.  They had also lived in Hawaii, a place I visited just 6 months prior.  The women at the gym loved me.  Both had a boyfriend/husband, respectively, but you can see it in their eyes (LOL!).

Guys, I’ve just gone over the simplest way to acknowledge your positive past, and here are some additional ways.

Begin With Nine Major Successes: Based On Your Age

If you’re 21, break it down in three increments (birth – 7; 8 – 14; 15 – 21).  

Whatever age you are, divide it by three.

Mirror Exercise

just before you go to bed, stand in front of a mirror and appreciate yourself for what you accomplished during the day.  Start with a few seconds of looking directly into your eyes.

Any achievements –  business, financial, educational, personal, physical, emotional.

Disciplines: exercise, reading, meditation

Temptations you never gave into: Ex: my eating gummy bears habit.

When you start doing this exercise, you’ll realize that all that junk, negative internal self-talk will totally vanish.

Reward Your Inner Child & Children

Make key deposits into your relationships, friendships, parents everyday.  Fill those bank accounts with positivity and rewards.  If you succeed at something, whatever you craved as a child, take yourself (and even your children) with you to get that craving.

 

Warren Buffet On Crypto: Is He Scared?

So, since Crypto started making waves and I started reading a little bit more of Tony Robbins again, I’m getting really scared about why there’s such a huge divide between the Gen B’s and the newer generations.

After 2008, who trusts the banks? I mean the value on people’s homes was reduced by 80%.  On top of that, 401K’s (also known to be in the stock markets), were completely wiped out.  Could you imagine being 60-years-old and seeing your 401K go right down the drain? Did anyone claim reliability? Absolutely not.

So, this is why I continue to have my doubts because there isn’t any straightforward information in terms of saving long-term.  It’s scary.  Thailand’s last crash was back in 97/98, resulting in quite a few suicides across Eastern and Southeast Asia.

How can we protect ourselves from crashes? I mean I ask myself the most basic question, “if 401k’s get wiped clean every 8-12 years, what’s the point?”

Honestly, would love to hear someone’s opinion.

And this is what brings me to Cryptocurrency.  Sure, it’s a massive fluctuation, but with blockchain on the verge of changing the way we view money, it seems like regular currency will be a thing of the past by the late century.

You know what I really want to point out….how come is it that the “over 60’s” keep so much information from one another?  Here’s a question, show me a blog or a book that Warren Buffet, Ray Dalio or any of those Wallstreet fools (I say that lightly, too) wrote and talked about how to invest.

I’m waiting….

See, that’s the problem right there.  Am I blaming the WWII, Korean War, Vietnam War eras for this? Well, kinda…in a sense that Americans, and the world in general, had a completely different mindset on life back in those days.  Do you think they want to change now? HELL NO!!! This is why racism has been perpetuated for so long because the Gen B’s rub off on the Gen Z….so the only way an anglo kid from Norman, Oklahoma won’t be a racist is if he moves to a culturally diverse city.

That’s a FACT.

But anyways…let’s break this down.

“If you buy something like a farm, an apartment house, or an interest in a business… You can do that on a private basis… And it’s a perfectly satisfactory investment,” he said. “You look at the investment itself to deliver the return to you. Now, if you buy something like bitcoin or some cryptocurrency, you don’t really have anything that has produced anything. You’re just hoping the next guy pays more.” – Warren Buffet

Ok, so how do the markets return on us without being penalized? How about the hidden fees that these “trust funds” inadvertently put in so that financial managers can dig deep into the “potential savings” of the others?

“In terms of cryptocurrencies, generally, I can almost say with certainty that they will come to a bad ending,” Buffet said. He went on to say he’d bet on “every one of the cryptocurrencies” falling over the next five years. “But, I would never short a dime’s worth,” he added. – Warren Buffet

Like the DOTCOM crash? Ok, some people would blame banks or housing.

How about 2008?  Oh, let’s blame the banks.

Great depression? Let’s blame the banks.

How come Warren doesn’t sit down with the world and teach them out to invest? This is what really drives me up the wall.

“There’s a real bubble in that sort of thing,” – Warren Buffet

Like…ummm, 2000-2008? That bubble? The bubble that bursted?

See, just like most over 50’s, this is a many that points fingers, critcizes, and gives no definitive follow-ups.

He should perhaps rephrase himself and say, “ok, guys.  Crypto is this………and this is what’s going to happen.  However, I believe if you put your money here in these indexes, it will accumulate this much over a 10-year period.”

The thing is….he doesn’t do that.

And that’s why I can NEVER trust anyone from that era.  There’s just too many hidden things and beating around the bush.

 

 

Tony Robbins: Wealth – The Rule Book

“What would it feel like to know in your mind, in your heart, and in the very depth of your soul that you’ll always be prosperous? To know with absolute certainty that no matter what happens in the economy, stock market, or real estate, you’ll have financial security for the rest of your life? To know that you’ll possess an abundance that will enable you not only to take care of your family’s needs but also to delight in the joy of helping others?”

Excerpt From: Tony Robbins. “Unshakeable.” iBooks. https://itunes.apple.com/us/book/unshakeable/id1146849403?mt=11

I want you to really sit down and think this through.  Think about all the questions above….a deep place within.  Ask yourself, “how would I feel if I was completely and utterly financially independent?”

“But the truth is, we’re still living in a crazy world. All these years later, central bankers are still fighting an epic battle to revive economic growth. They’re still experimenting with radical policies that we’ve never seen in the entire history of the global economy.
You think I’m exaggerating? Well, think again. First-world countries such as Switzerland, Sweden, Germany, Denmark, and Japan now have “negative” interest rates. You know how insane that is? The whole purpose of the banking system is for you to make a profit by loaning money to banks, so they can lend it out to others. But people around the world now have to pay banks to accept their hard-earned savings. The Wall Street Journal wanted to discover when the world last experienced a period of negative yields. So the newspaper called an economic historian. You know what he told them? It’s the first time this has happened in 5,000 years of banking history.
That’s how far we’ve come from living in a normal world: borrowers get paid to borrow, and savers get punished for saving. In this upside-down environment, “safe” investments such as high-quality bonds offer such terrible returns that you wonder if someone’s having a laugh at your expense. I recently learned that the finance arm of Toyota had issued a three-year bond that yields just 0.001%. At that rate, it would take you 69,300 years to double your money!” – Tony Robbins

The best part about the uncertainty is the opportunity.  A lot of people are wondering if the “end” is “near,” but I believe that’s the window of opportunity.  Also, the goal is not for you to predict the future about money.  This stems back to the circle of concern vs. the circle of influence.  Control what you can and don’t worry about what you can’t control.

Podcast

Interviewee #6: Steve Pipe on Muay Thai & Cryptocurrency

I went to Benjakiti Park right outside Asoke Station, which is a BTS skytrain stop here in Bangkok, and there was a meet-up of a lot of people for a community workout.

This was one of the very first days, which then turned into a many of days, where I just rebelled against going into work early – only to make the same salary again….something I’ve been doing far too long.

I came across this guy – Steve.  He’s a kiwi (for those Americans who don’t know, he’s from New Zealand), and within the matter of what seemed like seconds, we were talking about the universe, overcoming the odds, and we exchanged details almost immediately.

During a nap sometime last week, I woke up and told myself to ask the CEO of The Lab, Rich Cohen, for a podcast interview.  A couple days later, I did my first ever interview and it was fascinating to say the least.  On that same day, I asked my main man, Steve Pipe, for an interview – which was also a big success.

So here I am today giving you ANOTHER podcast interview!

Get in touch with Steven Pipe

 

Links:

 

 

Things we discussed:

  • What was his job in New Zealand before his move to Australia?
  • Muay Thai in Bangkok and how he seized the opportunity.
  • Income earning and teaching, as well as sharing about his training and working in The Lab.
  • Personal development, goal setting and visualization.
  • Fear of fighting and winning the match.
  • Differences between boxing and Muay Thai.
  • What kind of mental grit there is in Muay Thai.
  • The monster opponent.
  • Mentality before the biggest fight of his life.
  • What’s Steve’s training regime.
  • How to diet as a Muay Thai fighter.
  • Introduction to Crypto and how he got started.
  • Blockchain technology.
  • Alternative cryptos and how to win.
  • Wallet exchanges and crashes in the cryptomarket.
  • Strategy to earn some quick return in investments.
  • How much he has made from investing in Cryptocurrency.
  • Negative news on Bitcoin and cryptocurrency investment.
  • Sharing about how to develop cryptocurrency investment strategy, research, learn about the projects and learn about the system.
  • Main goals and plans.
  • Upcoming book.

Podcast

 

Thank you for listening!

 

Thank you so much for tuning in!

 

Links:

Twitter: https://twitter.com/arseniobuckshow?lang=en

Career Goals For 2018

Well, this is the big one! I mean there’s Tedx, working for companies (on my own contracts), there’s the podcast, Herbalife, YouTube, selling things on my website, business cards, meetings, presentations.  Omg! I mean I really need to thing and plan this one out thoroughly.

Podcast

One of the biggest goals of course for this year is building a bigger audience. Stagnation does happen from time-to-time.  Has my podcast been on the incline? Absolutely YES.  I mean in 2016, I would be excited if I get 1-5 plays in one day.  Now that I’ve enabled downloading on my podcast, everything has taken off.  There are third-party websites picking up my podcast.  I’m on iHeartRadio and Stitcher along with dozens of others.  I bought a year-long subscription on SoundCloud to reach out to people on there and it’s all going very well.  The next big step is obviously Spotify.

I definitely need MORE INTERVIEWS! Since I’ve already established a schedule, there’s a one day void on Monday and I would love to do four interviews a month.  I have two prospectives at the moment.  One person, who I was suppose to do a podcast interview last week until technical difficulties, has gone completely silent.  Perhaps he was frustrated with the entire ordeal – and he had a reason to be. LOL. It happens.

Collaborations are extremely important.  Having people put me on their podcast and provide a link…or even attaching the link to a blog is very important.  Example, there was one particular “hollywood” personality who I got in touch with and I think she was all up for the podcast on my end; however, she then asked for $995.  I laughed because she had just a hair over 1k followers.  Smh.

YouTube

My students, at the company that recently expunged me (I love saying this – lol), looked my educational videos up on YouTube back in October.  When they did this, I realized my plays went from 2k to 3k in a months span.  Since then. My videos are at 4.6k.  I’ve looked at the geographical location and it points basically everywhere: Indonesia, Brazil, Antigua, France, Reunion, South Korea, Morocco, Algeria, Tunisia, Switzerland.  You name it.  I couldn’t believe it because I hadn’t made an educational video in the past two years! So, I decided to make a ton of videos and I make sure content is being distributed rapidly.  I now have my graphic designer working on a new banner and a few other things.

Herbalife

I’m not one of those people that like shoving products or anything down others’ faces.  I did this probably a few years ago in trying to convince some of my friends that they should try Herbalife…and it never worked.  After that, I just didn’t care anymore.  If I could just live it, people will come.  Since then, lots of people, including co-workers and students, have asked me about the products.  No, I haven’t gone up the ranks since 2013, but I do want to take the great leap sometime in the last quarter of this year and start set up a new stream of income.

Book

Grrrrr this is the one! I was thinking of having a ghostwriter do it for me, but no one knows the story of what I went through here in Thailand more than I! I mean I have to tell it very vividly and descriptively.  I wish I had documented everything when it occurred, but I didn’t.  I just recently watched a TedX about a girl saying, “staying silent is the worse thing you can do.”  Well, I need to speak up about the experiences I’ve had in this country once and for all.  Just doing it is the catch…but if I can just brainstorm a couple of pages in the morning and make it my number one priority for the year = BINGO!

Website

The website is going to come into fruition over the next few months (before my anticipatory leave to South America), and on there will be lots of PDF’s templates and other things for my students all around the world to buy and stuff.  Luckily I have a graphic designer that’s doing amazing work at the moment; and what’s even more is I have the savings to pay for it all.  Very ecstatic and grateful for it.  Now, when this website launches, this WordPress site is going to be switched over there.  WordPress hasn’t provided me with much of anything except traffic.  Even the payment button is faulty.  If I want to sell things and plugins, I have to pay an additional 150$, which isn’t even worth it (sorry, WordPress); so I’m going to have a brilliant graphic designer build my website from scratch.  WOOHOO!

Podcast

https://www.spreaker.com/user/thearseniobuckshow/career-goals-for-2018

Darren Hardy – Story of Kathleen

“Twelve years ago I had a wonderful assistant, Kathleen. She earned $40,000 a year at the time. She was tasked to manage the registration table situated at the back of the room during one of my lectures on entrepreneurship and wealth building. The next week she came into my office. “I heard you talk about saving 10 percent of everything you earn,” she told me. “That sounds nice, but there is no way I could do that. It’s totally unrealistic!” She proceeded to tell me about all her bills and financial obligations. After she wrote them all out, it was obvious there really wasn’t any money left over at the end of the month. “I need a raise,” she said.

“I’ll do better than that,” I told her. “I’m going to teach you how to become wealthy.” It wasn’t the answer she was looking for, but she agreed.

I taught Kathleen how to track her spending, and she began to carry her notebook. I told her to open a separate savings account with only $33—just 1 percent of her existing monthly income. I then showed her how to live on $33 less the next month—bring in her own lunch just one day a week instead of going downstairs to the deli and ordering a sandwich, chips, and a drink. The next month I had her save only 2 percent ($67). She saved the additional $33 by changing her cable subscription service. The next month we went up to 3 percent. We canceled her subscription to People magazine (it was time to study her own life), and instead of going to Starbucks twice a week, I told Kathleen to buy the Starbucks beans and other fancy fixings and make her own coffee in the office (she grew to like that even better—me too!).

By the end of the year, Kathleen was saving 10 percent of every dollar she earned without noticing a significant impact on her lifestyle. She was amazed! That one discipline also had a ripple effect on many other disciplines in her life. She calculated what she spent on mind-numbing entertainment and began investing that money on personal growth instead. After feeding her mind with several hundred hours of inspirational and instructional content, her creativity started to soar. She brought me several ideas on how we could make and save more money in our organization. She presented me with a plan that she would implement in her spare time, if I promised to reward her with 10 percent of all the money-saving strategies and 15 percent of all the new revenue strategies that proved profitable. By the end of the second year, she was earning more than $100,000 a year—on the same $40,000 base salary. Kathleen eventually started her own independent contract service business that took off. I ran into Kathleen at an airport two years ago. She now earns more than a quarter of a million dollars a year and has saved and created more than $1 million in assets—she’s a millionaire! All starting from the choice to take one small step and start saving $33 a month!”

Excerpt From: Darren Hardy. “The Compound Effect.” iBooks.

See how it works? It’s the little steps.  I’m not telling everyone to save a whopping 20-40% of your salary each month.  I’m not even saying 15%….but saving incremental one’s there and one’s here will add up to the significant amount.  I always take good care of my monthly subscriptions.  I limit myself to going to my favorite Italian restaurant.  I make sure I don’t buy anything completely outlandish if I don’t need it.  All these little things have added up to a savings account whereas if I look at it — I go “DAMNNNNNN!”

Time Is of The Essence – Tony Robbins Video On Compounding

In This video, Tony talks about starting at particular ages, but what it all comes down to is you can start saving little-by-little now and reap the rewards.

Podcast

Lisa Nichols – Cultural, Economic, Gender, Geographical, Spiritual Blueprints

“To begin the process of eliminating any negative money beliefs, let’s go back through the five areas that influenced you in the first place: cultural, economic, gender, geographic, and spiritual. Take out a piece of paper and begin thinking back. What was happening in your household around money during childhood? How did your parents react to financial stressors? What did they do with their money? How did they spend it? How did they talk to you about money? Were you granted your requests for money or was there “never enough” for your needs? Were they “responsible” or “irresponsible” with their money?
And when you started earning an allowance or generating a small income from odd jobs, babysitting, or a paper route, what did you do with your money? Were your parents in agreement with your money decisions—or did they disagree with your actions?
Jot down your remembrances about money growing up—grouping your memories into the preceding five categories. Your list might look like this:”

Cultural Blueprint

  • The majority of the households in my neighborhood were on government assistance.
  • The parents were always at work, which meant the children were always engaged in activities outside their parents control.
  • The majority of my neighborhood were African Americans with the exception of a few Mexican families.
  • The two nearby complexes became saturated with gang violence.

 

Economic Blueprint

  • My father and mother both had jobs, yet the money was relatively scarce from 1995-1997.
  • The most notorious story of my life is when both my brother and I had to wear “water shoes” to school because we didn’t have enough money to buy regular shoes.
  • I would be the first one in line in 1999 (last year living with my father), at school in the morning to eat breakfast and the first one at lunch – this being because food was  a rare commodity in my household.
  • In the beginning stages of 2000, my mom would get clothes that were 5 sizes bigger than us from the homeless shelter she worked at so we wouldn’t be too cold during the winter.

 

Gender Blueprint

The only blueprint was that my sisters needed their own room because they were girls.  What Lisa Nichols wrote in her book “Abundance Now” was this…

  • My grandmother lived with us once Grandpa Joe passed on. She and my mom ran the household.•  I was very good at creating relationships with other girls, my teachers, and my neighbors.•  When I was a teenager, lots of employers offered jobs that were ideal for girls.•  My brothers teased me for getting A’s in math and science. Girls aren’t smart, they said.•  No woman in my family ever went to college. Some never graduated from high school but got married instead.”

Geographical Blueprint

  • I lived in a neighborhood where I heard gunshots at least once a week coming from “over the hill,” also named the “Westside.”
  • The bloods and crypts were around, but my siblings never got into that mess because we were more of the studious types throughout grade school.
  • My friends, in the 6th grade, would repeatedly cuss, skip class, and get bad grades.
  • My school had only Mexicans (50% were gangsters) and African Americans (60% gangsters)…..the women were already having sex at the ages of 11-13.

Middle school wasn’t difficult, though.  I’ll have to emphasize that because I had someone who left an imprint in my life my 8th grade year (story in my podcast).

Spiritual 

  • My family wasn’t very spiritual, but my mother did force us to go to church from time-to-time.  I used to pray to god every night up until about 2006-2007.

Other blueprints can be….

Our church actively helped the poor in our neighborhood with food and clothing.
•  My minister urged parishioners to tithe a portion of their paychecks every week.
•  Once, when a neighbor was too ill to work, our church members paid his rent for three months.
•  Once, when I mentioned I wanted to own a hair salon one day, my Sunday school teacher said girls should become mothers, not business owners.”

Next, circle or highlight on your list the one or two circumstances that have been the biggest driving force in your current relationship to money. Which have largely influenced your current actions and thinking around money?

In my household, for instance, small amounts received from our grandparents for birthdays or Christmas were spent as quickly as possible. As soon as we got the money, it was shopping time—and we didn’t stop until the money was all gone. I bought chili cheese dogs at the local car wash, bubble gum, candy, costume jewelry, sandals—anything fun.

I’d even treat my friends to fast food, buying them all lunch. Broke was level set. We were like lottery winners who not only spend all the money, but who are heavily in debt within a few years of receiving their winnings. I followed that pattern.
Later, I had to work hard to overcome this powerful driver. – Lisa Nichols

Podcast