The Money Beliefs I Let Go Of That Helped Me 3X My Income
Your words carry weight. They hold power. The sooner you grasp this, the better. I’m not one for woo woo thinking. I’ve learned through experience and mistakes. To achieve long-term success with money, you must challenge your financial beliefs.
Don’t let limiting beliefs hold you back in life.
I want to share with you 3 of them that I removed from my life.
1. Remove “It’s not possible” or “I can’t”
One of the most powerful mindset shifts that truly changed my life was removing the phrase “I can’t” from my vocabulary. You may think to yourself, “Man, this guy is cheesy; that is the oldest saying in the book."
Kevin Garnett, one of the greatest NBA power forwards to ever play, yelled “Anything is possible!” after winning an NBA Championship with the Boston Celtics. He has been mocked his entire retirement for it. Why, you may ask? Because it’s corny AF (corny as frick).
But I didn’t realize until later how powerful it can be to replace words. Sure, we all want to believe anything is possible. But in reality, anything is not possible. However, you can break anything down into systematic options. So, I replaced the phrase “I can’t” with “How can I?”
How can I? That’s powerful. It gives you all of the authority to take control of the situation. I saw this come into play when I found a real estate deal years back.
The problem with the deal was, I didn't have any money. To make matters worse, I had to find the money that day!
Now, what I could have done was say, “I just don’t have the cash, this deal isn’t for me.” But “I can’t” was not in my vocabulary anymore. So, I said, “How can I find the money?”
I called every investor I knew, many of whom I had not talked to in years, asking if they knew of anyone looking to lend money.
After dozens of calls, I was losing hope.
That’s when I got a text: “I just spoke to a guy named Mike; he is willing to lend on the property.”
“How can I” allowed me to make tens of thousands of dollars on a great real estate deal. All because I changed my words. It will work for you too.
2. Just because an area is crowded does not mean it’s off-limits
I wanted to start a podcast on personal finance in 2015. But, I told myself a lie: the podcasting space is too crowded; I will never be able to stand out. So, I waited. I tried every side hustle under the sun.
Some were great. Others, failing over and over. The reason? I was running from what I really wanted to do. I wanted to start a personal finance podcast.
I loved podcasts, and I loved personal finance. It was the perfect combo. I listened to dozens a week and knew which ones were good and which just didn’t have the juice. But I still delayed because it was too crowded. There were just too many podcasts. I
t was not until COVID hit, and I had too much time on my hands, that I decided to test out podcasting as a hobby. The Personal Finance Podcast was born.
At first, nobody but my wife listened. Six months later, we had a few thousand listening. Six months after that, 50,000 per month, then 100,000 per month. It seemed to double every month after that.
Fast forward to now, hundreds of thousands listen monthly, and millions of people per year. We get messages daily about the life-changing frameworks we discuss. All because I stopped listening to the fear that it was too crowded. It was my calling and my passion, and I should have done it years earlier.
3. You can excel in multiple areas of life
I am a type A person who wants to bulldoze anyone who is not driven. It is a major flaw of mine. Because I am this way, I want to excel at everything.
For years, I read books that told me you needed to focus on one thing. You can’t have a balance between health, wealth, career, faith, and family. You know what I found out?
Those people were wrong. You can become balanced and successful. You can do it all; you just have to craft a plan and create habits around that plan.
Here are some things I did:
- Set goals in every area.
- Slot when I was going to work on those goals.
- Set realistic timelines to accomplish each.
- Show up every day.
- Continue to learn, educate, invest in myself, and adjust.
That’s it. There is no magic formula. You can do it all, but you have to make that shift.
