These 7 Money Habits Keep You Stuck

Summary

El video ofrece una visión profunda de las siete malas hábitos financieros más comunes que impiden la acumulación de riqueza. Incluye consejos prácticos para transformar estos hábitos en comportamientos positivos. Empieza con la ignorancia hacia el dinero, pasando por la tendencia a hacer preguntas insignificantes en lugar de enfocar en decisiones importantes, como las tarifas de inversiones y la negociación salarial. Se aborda la actitud defensiva frente a la gestión de la cartera y la importancia de desafiar los scripts invisibles arraigados en la psique. Además, se enfatiza la necesidad de establecer metas específicas y realistas, en lugar de objetivos genéricos, y la importancia de tener un plan de gastos consciente que permita ahorrar y invertir automáticamente, al tiempo que se permite un gasto libre y consciente. Finalmente, se desafía la mentalidad de escasez y se motiva a adoptar una mentalidad de crecimiento para usar el dinero como herramienta para vivir una vida rica y plena.

Takeaways

• 💼 **Ignorar el dinero**: Ignorar la situación financiera crítica, como la deuda de tarjetas de crédito, puede costar mucho y no llevará a una vida rica.
• 📈 **Invertir en lugar de solo ahorrar**: Invertir un 5% a 10% de los ingresos automáticamente es donde se crea verdadera riqueza.
• 💰 **Preguntas importantes**: En lugar de preocuparse por pequeños gastos, enfocar en áreas que tengan un gran impacto financiero, como tarifas de inversiones y negociación salarial.
• 🚫 **No jugar a la defensiva**: No obsesionarse con las fluctuaciones del mercado, en lugar de eso, establecer un sistema financiero sólido y actuar con proactividad.
• 🧠 **Desafiar scripts invisibles**: Reconocer y cuestionar creencias internas profundamente arraigadas sobre el dinero que pueden limitar nuestras acciones.
• 🏡 **Comprometerse con metas específicas**: Establecer metas SMART (específicas, medibles, alcanzables, relevantes y orientadas a plazos) en lugar de metas genéricas.
• 📊 **Gastar con un plan**: Diseñar un plan de gasto consciente que incluya costos fijos, inversiones, ahorros y un presupuesto para el gasto libre y libre de culpa.
• 🌊 **Eliminar la mentalidad de escasez**: Adoptar una mentalidad de crecimiento y usar el dinero para vivir una vida rica en lugar de acumularlo.
• 📉 **Eliminar la deuda de tarjetas de crédito**: Crear un plan de pago de deuda para tener una fecha definitiva de pago y pagarlas agresivamente.
• 🤔 **Preguntarse por qué**: Cuestionar y comprender las razones detrás de nuestras creencias y comportamientos con respecto al dinero.
• 📈 **Enfoque en el crecimiento**: En lugar de centrarse en cortar pequeños gastos, enfocarse en las decisiones y acciones que pueden tener un mayor impacto en la construcción de riqueza a largo plazo.

Q & A

¿Por qué es una mala decisión financiera ignorar el dinero?

Ignorar el dinero es una mala decisión financiera porque puede llevar a que se ignoren deudas críticas como las de tarjetas de crédito o a la falta de inversiones, lo que a largo plazo puede costar mucho dinero y no conducir a una vida rica.

¿Qué sugiere hacer para pagar la deuda de tarjeta de crédito?

Se sugiere crear un plan de pago de deuda que incluya un mes y año específico para cuando se pagará la deuda. Pagar la tarjeta de crédito de manera agresiva, incluso con un extra de $100 al mes, puede reducir meses o años de la deuda.

¿Por qué es importante invertir al menos el 5% a 10% de los ingresos?

Invertir al menos el 5% a 10% de los ingresos es importante porque es en la inversión donde se crea verdadera riqueza a largo plazo, y muchos se centran en recortar pequeños gastos en lugar de ver el potencial de ganancias a través de la inversión.

¿Cuál es el segundo hábito financiero malo mencionado en el video y cómo afecta a las finanzas a largo plazo?

El segundo hábito financiero malo es hacer preguntas de $3 en lugar de $30,000. Esto afecta negativamente las finanzas a largo plazo porque se enfoca en ahorros insignificantes en lugar de en áreas que podrían tener un mayor impacto, como los costos de inversiones o la negociación salarial.

¿Por qué no se recomienda preocuparse por eventos fuera de nuestro control como las decisiones de la Reserva Federal?

No se recomienda preocuparse por eventos fuera de nuestro control porque no podemos influir en ellos y preocuparse por ellos puede hacer que se ignoren las cosas que realmente podemos controlar y afectar, como la inversión y la gestión de la deuda.

¿Qué se entiende por 'jugar defensivamente' con el dinero?

Jugar defensivamente con el dinero implica centrarse en evitar pérdidas en lugar de buscar oportunidades para aumentar el patrimonio. Esto puede llevar a una actitud de miedo y a menudo se ve en personas que revisan sus cuentas diariamente y se preocupan por eventos fuera de su control.

¿Cuáles son los 'scripts invisibles' y cómo afectan nuestras actitudes y comportamientos financieros?

Los 'scripts invisibles' son creencias profundamente arraigadas que no somos conscientes de que nos guían. Estos pueden convertirse en trampas psicológicas que nos impiden avanzar financieramente. Es importante reconocer y cuestionar estas creencias para poder cambiarlos.

¿Por qué es importante tener metas específicas en lugar de metas genéricas?

Tener metas específicas es importante porque proporciona una definición clara del éxito y permite un mejor seguimiento del progreso. Las metas genéricas pueden ser más dañinas que no tener metas, ya que pueden llevar a la frustración y a la falta de confianza en uno mismo al no cumplirse.

¿Qué es el 'Plan de Gasto Consciente' y cómo ayuda a manejar las finanzas?

El 'Plan de Gasto Consciente' es una estrategia que divide los ingresos en cuatro categorías principales: costos fijos, inversiones, ahorros y gasto libre sin culpa. Ayuda a manejar las finanzas al establecer prioridades y a planificar los gastos de manera intencional.

¿Cómo afecta la mentalidad de escasez la forma en que gastamos dinero?

La mentalidad de escasez puede hacer que las personas se sientan que nunca podrán permitirse cosas o que el gasto en ciertos artículos es un desperdicio. Esto puede impedir el disfrute de la vida y la capacidad de usar el dinero para vivir una vida rica.

¿Qué se entiende por 'jugar ofensivamente' con el dinero y por qué es beneficioso?

Jugar ofensivamente con el dinero implica usar el dinero para buscar oportunidades de crecimiento y mejora de la calidad de vida en lugar de solo protegerlo. Es beneficioso porque permite a las personas disfrutar de sus recursos financieros y vivir una vida más rica y satisfactoria.

Outlines

00:00

💰 Hábitos financieros que te impiden acumular riqueza

Este primer párrafo aborda la importancia de la psicología financiera y cómo nuestras creencias sobre el dinero afectan nuestra capacidad para acumular riqueza. Se mencionan siete hábitos financieros comunes que limitan nuestras finanzas y se ofrecen soluciones para cambiarlos. Se enfatiza la necesidad de no ignorar nuestras finanzas y de actuar en lugar de esperar un 'día de mañana' para mejorar nuestras situaciones económicas. Se sugiere crear un plan para saldar la deuda y ahorrar un mínimo del 5 al 10% de nuestros ingresos para la inversión.

05:01

💵 Preguntas de $3 en lugar de $30,000

El segundo párrafo se enfoca en la idea de que preocuparse por pequeños gastos diarios no cambiará significativamente nuestras finanzas a largo plazo. En lugar de eso, se recomienda centrarse en 'grandes ganancias' como los costos de inversión y la negociación salarial, que pueden tener un impacto sustancial en nuestra riqueza. Se argumenta que una vez que se resuelven estos aspectos, los pequeños gastos cotidianos no son tan importantes.

10:01

🚧 Jugar a la defensa con tu dinero

Este apartado discute cómo preocuparse por eventos financieros fuera de nuestro control, como las decisiones de la Reserva Federal, puede llevar a malgastar tiempo y energía. Se sugiere en su lugar enfocarse en áreas que uno puede controlar, como establecer un sistema financiero que permita vivir una vida riqueza sin preocuparse constantemente por las finanzas. Se desalienta el uso de aplicaciones financieras que promuevan la obsesión por las inversiones diarias.

15:01

🏡 Scripts invisibles y objetivos genéricos

El cuarto párrafo explora las 'scripts invisibles', es decir, creencias arraigadas que afectan nuestro comportamiento financiero sin que nos demos cuenta. Se mencionan ejemplos de estas creencias y se anima a cuestionarlas y a reinventarlas para mejorar nuestras finanzas. Además, se critica la tendencia a fijar objetivos financieros genéricos y se sugiere en su lugar establecer metas SMART (específicas, medibles, alcanzables, relevantes y orientadas a plazos).

📈 Metas genéricas frente a objetivos SMART

Se hace hincapié en la necesidad de establecer objetivos financieros específicos y medibles en lugar de metas vagas. Se proporciona un ejemplo de cómo transformar una meta genérica en una SMART, destacando la importancia de definir清楚 lo que se quiere lograr, cuándo y cómo. Además, se discute la importancia de tener un plan de gastos consciente que incluya inversiones, ahorros y un presupuesto para el gasto libre sin remordimientos.

💳 Gastos sin planificación y mentalidad de escasez

El sexto párrafo aborda el tema de la planificación de gastos y cómo la falta de un plan puede llevar a sentir que gastar dinero es malo. Se presenta el 'Plan de Gastos Consciente', que incluye cuadros para distribuir el dinero en gastos fijos, inversiones, ahorros y gasto libre. Se argumenta que seguir este plan permite ahorrar e invertir de manera automática y disfrutar de la vida sin remordimientos. El último hábito mencionado es tener una mentalidad de escasez, que se debe reemplazar por una mentalidad de crecimiento y usar el dinero para vivir una vida rica.

Keywords

💡Hábitos financieros

Los hábitos financieros son las prácticas y comportamientos que una persona desarrolla en relación con el dinero. En el video, se discuten hábitos que impiden la acumulación de riqueza y se ofrecen sugerencias para cambiarlos. Por ejemplo, 'ignorar el dinero' es un mal hábito que se menciona y se aboga por una planificación financiera activa.

💡Mente abierta

Una mente abierta se refiere a la capacidad de aceptar y considerar nuevas ideas o perspectivas. En el contexto del video, se hace un llamado a los espectadores para que adopten una mente abierta con respecto al dinero, viendo las inversiones y el gasto como oportunidades para enriquecerse en lugar de verlos con miedo o escasez.

💡Planificación de la deuda

Es el proceso de establecer un método para pagar la deuda, como las tarjetas de crédito. En el video, se sugiere crear un plan de pago de deuda para saber cuándo se pagará la deuda, lo que proporciona un 'destello de luz al final del túnel' y ayuda a pagar la deuda de manera más eficiente.

💡Inversiones automáticas

Consiste en la inversión regular y periódica de una cantidad de dinero en el mercado de valores. Se destaca en el video como una práctica clave para la creación de riqueza a largo plazo, sugiriendo que el espectador invierta el 5% al 10% de sus ingresos automáticamente.

💡Preguntas de dinero

Se refiere a la importancia de enfocarse en decisiones financieras significativas en lugar de pequeños ahorros. El video critica el enfoque de ahorrar en pequeños gastos diarios en lugar de buscar 'grandes ganancias', como negociar un aumento salarial o reducir comisiones de inversiones.

💡Juego defensivo con el dinero

Es la actitud de preocuparse por eventos financieros fuera de su control, en lugar de enfocarse en las áreas que pueden influir directamente. El video sugiere que el comportamiento defensivo, como verificar constantemente las cuentas bancarias, no conduce a una vida rica y que se debería jugar ofensiva con el dinero.

💡Guiones internos

Son creencias profundamente arraigadas que afectan el comportamiento sin que nos demos cuenta. En el video, se discuten guiones internos comunes que limitan el potencial financiero de las personas, como la creencia de que no se puede permitir ciertos lujos o que la inversión es solo para personas ricas. Se anima a los espectadores a cuestionar y reescribir estos guiones internos.

💡Metas genéricas

Son objetivos no específicos que no proporcionan una dirección clara o un plan de acción. El video argumenta que las metas genéricas, como 'mejorar con el dinero', son ineficaces y en su lugar se recomienda establecer metas SMART (específicas, medibles, alcanzables, relevantes y orientadas a plazos).

💡Gasto consciente

Es el proceso de asignar deliberadamente el dinero a los gastos que realmente进口an. El video introduce el 'Plan de Gasto Consciente', que divide los ingresos en categorías fijas, inversiones, ahorros y gasto libre sin culpa, promoviendo un enfoque estructurado y consciente del gasto.

💡Mente de escasez

Es la actitud de percibir que los recursos son insuficientes y que siempre habrá menos del necesario. En el video, se desalienta esta mentalidad y se motiva a los espectadores a adoptar una mentalidad de crecimiento, usando el dinero para vivir una vida rica en lugar de guardarlo o temer usarlo.

💡Metas SMART

Son objetivos que son específicos, medibles, alcanzables, relevantes y orientados a plazos. El video utiliza el ejemplo de las metas SMART para ilustrar cómo establecer objetivos financieros efectivos, enfocándose en la definición clara del éxito y la planificación para alcanzarlos.

Highlights

Ignoring money is one of the worst financial decisions you can make.

Creating a debt payoff plan can help you know exactly when your debt will be gone.

Most credit cards charge high interest rates, so paying off aggressively can save you time and money.

Investing a minimum of 5-10% of your income can lead to true wealth creation.

Focusing on small expenses while ignoring investment opportunities is not a good financial strategy.

Asking $3 questions instead of $30,000 questions can limit your financial growth.

Investment fees and salary negotiations are areas where you can achieve significant financial wins.

Playing defense with your money by constantly checking accounts can lead to stress and missed opportunities.

Following invisible scripts, or deeply embedded beliefs about money, can be a psychological trap.

Writing down and interrogating your money beliefs can help you decide which scripts to follow or reinvent.

Having generic goals can be worse than not setting goals at all.

SMART goals are specific, measurable, attainable, relevant, and time-oriented.

Spending without a plan can lead to feelings of guilt and a lack of financial control.

The Conscious Spending Plan helps you allocate money into fixed costs, investments, savings, and guilt-free spending.

Having a scarcity mindset can prevent you from enjoying the benefits of your wealth.

Adopting a growth mentality allows you to use money to live a rich life.

Identifying and changing common money habits can lead to significant improvements in your financial life.

Transcripts

what money habits do you have right now

that are keeping you from Building

Wealth you see a lot of living a rich

life boils down to your money psychology

and what you believe about money and

you're going to be amazed at how fast

your financial life can change once you

change your mindsets and your money

Behavior so in this video I'm going to

break down the seven most common money

habits holding you back and what to do

instead starting with bad habit number

one ignoring money this is one of the

worst Financial decisions you can make

and I'm not exaggerating because most of

us ignore the critical fires happening

in our financial life whether it's

ignoring your credit card debt or simply

not investing because you're waiting for

someday to start investing in action is

costing you dearly and someday will not

lead to your rich life for example if

you have credit card debt my wish for

you is that you create a debt payoff

plan so you know the exact month and

year that your debt will be gone it

feels so good to know even if it's 3

years or 30 years it feels so good to

know exactly when there's going to be a

light at the end of the tunnel remember

most credit cards charge 22 26 even 28%

interest rates so paying off these

credit cards aggressively even with an

extra $100 a month can shave off months

sometimes years of your debt and it's

not just credit card debt it's also

investing my wish for you is that you

Take 5 to 10% of your income minimum and

set up automatic investing that is where

true wealth is created and too many of

us focus on cutting back on $5 coffees

while ignoring how much we could be

making by investing so whatever you do

please do not put your head in the sand

and ignore your finances if you're

watching this video that's already a

step in the right direction so let's

move on to bad habit number two asking

$3 questions not $30,000 ones I see so

many people who are stressed about money

and their reaction is to try to cut back

a little bit in every single area of

Life they follow this financial advice

cut back on your lattes cut back on the

amount of lettuce you buy cut back on

how many rubber bands you buy it's a

horrible way to live and it actually

does not really change your finances

whatsoever over the long term if this

sounds like you if you are obsessed and

agonized over $3 questions there is a

better way I want you to focus on the

areas that will make you the biggest

impact what I call the big wins and

there are a few big wins in life where

if you simply get those right you almost

never have to worry about the Small

Things those 5 to 10 big wins are worth

way more than all the next 50 little

things you can do so what are the big

wins in your financial life well first

investment fees a lot of people have a

financial advisor and they don't even

know how much that advisor costs if your

adviser is charging you 1% AUM or assets

under management that means that you're

losing about 28% of your lifetime

returns in fees that is a lot of money

tens of thousands of dollars sometimes

hundreds of thousands of dollars so

investment fees are one area where you

can achieve a big win next up

negotiating your salary a lot of people

simply take what's given to them they

never negotiate now if you negotiate one

single $5,000 raise in your 20s that can

be worth hundreds of thousands of

dollars over your lifetime but that can

be true in your 30s 40s and Beyond you

can take part of that money and invest

it you can take the rest of it and spend

it on something you love my point to you

is I want you to stop thinking about $3

questions and really start thinking

about

$330,000 questions these are the

questions like paying off your debt

aggressively that pay huge and once you

get those right you never need to worry

about $3 questions anymore next up bad

habit number three playing defense with

your money I get emails from people who

are worried about what the FED is going

to do uh is my investment going to

return 7% or 7.1% what do you think

about I go you can't control this so why

are you worrying about it and what's

even worse because they spend time

worrying about things that are

uncontrollable they neglect things that

they actually can influence one of the

major red flags I see from Warriors is

they log into their accounts daily oh I

need to check make sure my bills got

paid oh did this happen what about that

what's the market say the FED what are

you say stop it I don't even have

financial apps on my phone and you

shouldn't either what reason is there to

be logging into your accounts every day

if you've set your money up

automatically you don't need to do that

what this tells me if someone has an app

that they log into every day is number

one they don't feel in control of their

money number two they don't have a

financial system in place and number

three most importantly they are obsessed

with the manuver IA they're playing

small and they're playing defense with

their money to tell you the blunt truth

checking your bills every single day is

not going to lead to your rich life that

is too small for you to be focusing on

and frankly a computer can do that

better than you ever could and I simply

reject the premise that money is

something you should feel bad about or

stressed about every single day that's

not the point of money yes you should

save and invest and pay off your debt

but yes you should also use your money

to live a rich life today guilt-free and

to do that you have to play offense with

your money when you have a proper

financial system there is no reason to

log into your accounts daily which

brings me to bad habit number four

following invisible scripts invisible

scripts are beliefs that are so deeply

embedded in us that we don't even

realize they guide our attitude or

behaviors and over time these scripts

can become dangerous psychological traps

that hold us back let me show you an

example of an invisible script in

America you should buy a house because

you're throwing money away on rent

that's an invisible script we grow up

hearing it from everyone movies TV shows

and we start to believe it over time is

it true maybe maybe not on my podcast

I'll ask couples what do you remember

your family saying about money when you

grew up and you know one of the most

common things they say their parents

told them

we can't afford it now think of it fast

forward 30 years later you get a great

job you start investing money and you

cannot figure out why you still feel so

guilty about buying a coffee now most

people never make the connection between

what they grew up with and how they feel

about money decades later that's why I

call them invisible scripts so the next

time you have a negative reaction to

money write down your money belief

acknowledge them even interrogate your

own beliefs why do I believe this what

if I did the opposite who do I admire

how would they think about this and then

decide what scripts do I want to follow

and what scripts do I want to reinvent

for the next chapter of My Life by the

way here are a couple of other common

invisible scripts that many people grew

up with we don't talk about money well

how can you expect to get ahead if

you're not actually talking about money

what's really going on with this

invisible script is that people think

money is a source of stress overwhelm

guilt and anxiety so they want to deny

talking about it well I don't I think

money is a source of Adventure and

spontaneity and possibility of course I

want to talk about it yes I want to

build some skills and learn how to set

my accounts up and invest but of course

I want to talk about money it's what

helps me live my rich life next

investing is only for rich people not

not People Like Us wrong the way that

you get wealthy is by investing this is

so common especially with people who

were never exposed to investing and it

drives me crazy because I want everybody

to have access to the greatest wealth

Creator in history the stock market so

even if you've got an entrylevel income

even if you can only invest $2 a month

it's still meaningful and that is how

you get started so you can literally

change your life byend spending one day

setting up automatic Investments that

means you can start to actually live

your rich life and not worry about money

for the next 20 years next up bad habit

number five having generic

goals you know when I ask people what is

your rich life 90% of the people have

the same answer they go like this I want

to do what I want when I want and then

they just wait they wait for me to

applaud oh my God that's did you say you

want to do what you want when you want

that's so original and then I go like

this um what do you

want they never thought about it they

spend 50 years working eight plus hours

a day agonizing over money feeling

guilty over money thinking about money

and I go what do you want to

do what's the point of all this why are

you spending your entire life working to

accumulate money and save money and

spend money and you you never even sat

down to answer a single question what do

you want to do with your

money nobody trips and falls into a rich

life if you want to live your rich life

which is going to be different than mine

and everyone else's you have to design

it okay other common goals I see people

make time and time again I want to get

healthy means nothing I want to pay off

my debt means nothing CU you didn't tell

me how much and when and the exact month

and year it will be paid off I want to

find a new job okay I want to fly why

just saying it doesn't make it happen

let me break it down for you setting

generic goals can actually be worse than

not setting a goal at all because people

go through the effort of saying I want

to get healthy and then of course

inevitably life gets in the way and they

don't get healthy they don't even know

what healthy actually means and then

they beat themselves up well I set this

goal and I never fall through and now I

don't trust myself better you didn't

even set that at all instead of saying I

want to get healthy I want you to get

specific about exactly what you want to

do when you want to do it who you want

to do it with and then you can control

that part of the process so how do you

create better goals well you can use

smart goals smart goals are specific

what will my goal achieve measurable

what does success look like attainable

are there resources I need such as the

courses at iw. comom that we offer

relevant do I really want to do this and

time oriented what is the deadline let

me give you a few examples a terrible

goal I need to get better with money a

bad goal I want to save $1,000 this year

a smart goal I want to have $40 per

paycheck automatically transferred to my

vacation sub savings account for one

year that's how you do it do the work

upfront to Define what success looks

like and if you aren't sure honestly

guess just write it down and then course

correct over the next month or 6 months

which brings me to bad habit number six

spending without a plan you know how

many people go through life feeling like

spending money is a bad thing they even

say I should be good this month which to

them means they aren't spending money

because spending money is bad on one

hand we are very puritanical about money

we're told not to buy lattes not to buy

jeans not to buy handbags cuz they're

frivolous funny you never hear someone

describing a $80,000 truck as frivolous

but a $2,000 handbag so

frivolous and we do this for our entire

life on the other hand we see our

friends in Bora Bora on Wednesday on

Instagram we're like how come they get

to do that and we don't what if spending

money actually felt good my dream for

you is to have a vision for spending

money on the things you love and once

you do then you can cut cost mercilessly

on the things you don't the challenge is

that many of us have never articulated

what we love spending on we feel guilty

to even say it out loud I'll ask people

what's your rich life what's your dream

they go uh I guess one day I'd like to

have a beach house I mean it doesn't

even have to have a roof it doesn't does

have to have walls no windows it doesn't

even have to have a door it just needs

to be within 5 miles of a beach I go

what the I just asked you you're a rich

life and you just minimized everything

so now you're living in a shack what

kind of answer is that and it's not that

they're a bad person it's that we have

been taught to play small now I don't

know about you but I don't want to play

small and I don't want to wait until I'm

90 to finally enjoy my money I want to

live a rich life today and a richer life

tomorrow here's what you you do you got

to know your numbers using my conscious

spending plan template which you can

download right here then you prioritize

what you want to spend more money on now

you can't predict everything that's life

but knowing your numbers will allow you

to build in some flexibility into your

life you'll be able to handle the

unexpected expenses that life inevitably

throws your way if you only track the

four numbers in my conscious spending

plan then when things come up

unexpectedly you won't be thrown off

financially

the CSP has four major buckets on where

your money goes first is fixed cost your

fixed cost should be no more than 50 to

60% of your take-home pay otherwise

you're going to feel constantly stressed

out about money next your Investments I

recommend at least 10% of your take-home

pay of course the more the better

because this is where real wealth is

created next your savings this is 5 to

10% of your take-home pay minimum this

is for an emergency fund and expenses

that you're going to have in roughly 1

to 3 years and finally my favorite one

of all guilt-free free spending now that

should be between 20 to 35% of your

take-home pay I know what you're

thinking that's a lot yes it is this is

your fund money for anything you want to

spend on this month could be eating out

throwing a party taking a trip treating

your spouse or family don't get too

stuck thinking what goes where or if

your numbers are exact my suggestion

estimate it implement the plan and you

can adjust as needed now if you follow

the conscious spending plan you're going

to be saving automatically every month

in investing automatically every month

and best of all spending money with

intention all right I have one more

money habit left but before we get to

that if you're not already subscribed to

my channel go ahead and do that for me

really quick and now bad habit number

seven having a scarcity mindset have you

ever said one of these phrases I'm never

going to be able to afford that that's a

waste of money I don't need to spend on

things like that if you've said any of

those phrases you may find it difficult

to spend money on yourself and if so a

good place to start is to look at your

numbers to know why you are feeling that

way sometimes you're right if you have a

huge amount of credit card debt you

probably shouldn't be staying at an

ultra luxury hotel if your fixed cost

exceeds 60% of your take-home pay yeah

you probably cannot afford that new car

okay but in other cases it's a scarcity

mindset and I've spoken to people who

have millions of dollars in the bank and

they can't bring themselves to buy

blueberries or take a trip that their

spouse has wanted to take for

decades that holds you back I would

challenge you to adopt a growth

mentality to use money to live a rich

life because the point of money is not

to hoard it and save it it's to use it

for your rich life now that we've gone

through the seven most common money

habits keeping people stuck I hope

you're able to identify which habits are

keeping you stuck and better yet you

know exactly how to change these into

POS positive habits check out this video

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