How I Brainwashed Myself To Get Rich

Summary

This video script narrates a personal journey from financial struggles to success. The speaker shares insights on how changing one’s mindset about money, learning from successful individuals, and following specific rules can lead to wealth. Key concepts include avoiding advice from broke people, recognizing money as a superpower, tracking finances closely, keeping expenses low while increasing income, and focusing on adding value to others' lives. The message encourages reprogramming your financial thinking to unlock potential and achieve financial freedom.

Takeaways

• 😀 Money mindset change is crucial for success. The speaker emphasizes how changing thoughts about money was the key to turning their life around.
• 😀 Stop taking advice from broke people. The speaker realized that advice on wealth from those who haven't achieved it is not valuable.
• 😀 Understand your financial superpower. Whether you are good at earning or growing money, focus on what you're good at.
• 😀 Track your finances like your crush's Instagram. Regularly monitoring your bank balance and financial activity helps you understand where you stand.
• 😀 Follow the 10% rule: Limit your expenses to 10% of your income. This encourages increasing income rather than excessively cutting costs.
• 😀 Value over money. The wealthiest people, like Elon Musk or Mukesh Ambani, made money by adding value to people's lives.
• 😀 Money isn't for showing off; it’s for freedom. The true purpose of wealth is to gain peace of mind and freedom, not to flaunt it.
• 😀 Reprogram your mind about money. The speaker stresses the importance of shifting your thought process about money to achieve real financial success.
• 😀 Don't invest blindly. Invest only in areas where you have knowledge or seek help from experts, like portfolio managers or stock market professionals.
• 😀 If you're not happy with your financial situation, stop taking advice from those who haven’t achieved success. Instead, focus on adding value to others' lives.

Q & A

What was the speaker's financial situation like in 2016?

In 2016, the speaker was bankrupt and facing significant financial struggles. His mother was calling relatives to ask if they had any job opportunities for him.

What was the key factor that changed the speaker’s financial situation?

The key factor that changed his financial situation was changing his mindset, specifically reprogramming his thoughts about money. He essentially brainwashed himself for success.

How did the speaker’s childhood influence his perception of money?

The speaker grew up in a financially struggling environment where they often couldn’t pay school fees, faced financial arguments at home, and witnessed daily challenges related to money. This experience shaped his negative perception of money.

What role did the speaker's parents play in his upbringing despite financial struggles?

Despite financial difficulties, the speaker’s parents worked hard to provide the best possible education and living conditions. The speaker respects them deeply for their sacrifices.

What is the first rule the speaker created for himself at 20?

The first rule the speaker created was to stop taking advice from broke people. He realized that many people who offered financial advice were not successful themselves, and thus, their advice was not valuable.

What does the speaker mean by 'money superpower'?

The speaker emphasizes understanding one’s 'money superpower,' which refers to recognizing whether you are better at growing money or making money. He acknowledged that while he was good at making money, he was not as skilled at growing it through investments.

How does the speaker suggest tracking money?

The speaker suggests tracking money obsessively, similar to how someone with a crush might follow their crush on Instagram. He emphasizes tracking daily balances, monthly profits, and the returns from investments.

What is the 10% rule mentioned by the speaker?

The 10% rule states that one should limit their expenses to just 10% of their income. The rest of the income should be either saved or invested to help grow wealth over time.

How does the speaker view the purpose of money?

The speaker believes the real purpose of money is to provide freedom and peace of mind, not to show off or buy material possessions. Money should enable one to make choices and secure financial independence.

What is the importance of adding value, according to the speaker?

The speaker stresses that becoming rich is not about finding the best business strategy or investment. It’s about adding value to people's lives. The richest people in the world, like Mukesh Ambani, Elon Musk, and Jeff Bezos, made their wealth by providing value through their products and services.