February 21, 2025 • 16 mins
If you’re tired of feeling stuck financially, consider this your wake-up call. I’m breaking down the 6 biggest money mistakes that are keeping you broke—so you can stop making them today. From limiting beliefs to poor spending habits, these mistakes are costing you more than you realize. I’ll share the hard-earned lessons from my own journey and the real secrets to building wealth. If you’re serious about changing your financial future, it’s time to start making money moves that actually matter.
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Episode Transcript
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S1 (00:00):
Welcome to business and the podcast for people making it
all happen. Running a successful business completely takes over your life,
but I'm a believer that there is still room for
some ands like health, wealth, beauty, and maybe even some fashion.
On this podcast, I'll share with you what's working for
scaling my nine figure business while keeping you up to
date on the latest trends, news and fun finds. This
(00:23):
is a place for business and let's dive in! Welcome
back to business and this particular episode. We are diving
into the money mistakes that are keeping you broke. And
I share a little bit about this $150,000 investment that
I just made in the last month in order to
(00:44):
be in rooms, and what I didn't share on the episode,
but am super happy to share on the podcast because
you guys get the behind the scenes, is me wiring
the money for the $150,000 for this two days was
like I serious debatable decision. I was like, is this
really worth it? I know nobody there. What if I
show up for two days and I don't make the
(01:06):
impact that I want? I don't meet the people that
I want. It's just a complete waste. We could invest
this $150,000 in so many other things right now. I
could invest it. I could spend it on things that
I want. Like, I went through this whole money noise
and then I reminded myself, Natalie, money is a tool.
The World Economic Forum is one of the most influential
places for decision makers, for policy makers, for future makers
(01:29):
on the planet. And it happens one time a year
and you happen to get invited to it. So you've
never done this before. You are going to make use
of this opportunity. You're going to do everything that you
can to make connections, to get yourself known, to create
promotion for the business through this opportunity. What is the
$150,000 good for? If I'm not able to get closer
(01:51):
to the people that I want to spend time with.
So funny enough, I haven't actually gone yet. I leave
for Switzerland tomorrow all by myself traveling to Davos in
order to go to the World Economic Forum. But I
have put so much prep work into reading all of
the sites or reading all of the the documentation on
(02:11):
the World Economic Forum, and just making sure that I
am so incredibly prepared to network, to learn, and to
make use of this $150,000 investment. But it's not really
real to people that you keep doing this as you
become more and more successful. Because oftentimes I'm talking to
somebody who might have $2,000 in their bank account and
how they use that $2,000 to make $20,000. Well, I'm
(02:32):
trying to use $150,000 investment to get in rooms with
people who are making billions of dollars. So in the
scheme of things, it sounds like a no brainer, but
it's still sometimes a difficult decision. And I wanted to
share that with you, because I feel like it's important
to be a little bit more transparent about some of
the things that I'm still doing today, to not give
up on where I'm trying to go, and it's still scary.
(02:54):
It will continue to be scary until I get to
where I'm trying to go, which who knows when that's
going to happen. But until then, I'm going to keep
investing and I hope you enjoy this episode. These are
the six biggest money mistakes keeping you broke and how
to stop making them today. The first money mistake is
the biggest thing holding you back, and that is not
believing you can have the life that you want. I
(03:15):
have to ask you this question how much time are
you spending trying to make more money? Because if you
aren't spending a lot of time truly looking at your
bank account, understanding what skills you need to develop that time,
if it's not being spent towards becoming a millionaire or
getting rich or improving your financial situation, then that's why
you're going to struggle. Because you don't actually believe you
can do it. Because if you believed you could do it,
(03:37):
you would spend your time in accordance with that belief.
And speaking of beliefs around money, let me just say
this you will not become rich saving money on coffee.
The people out there who are shaming people for buying
lattes and saying that it's financially irresponsible, that is not
what's going to keep you broke. What's going to keep
you broke is not believing that you can make more income.
(04:00):
Not believing that you can have a different life so
that you take the actions required. You can buy the Starbucks,
get the latte that is okay, but spend the majority
of your time figuring out how do I earn more income?
How do I become more valuable so that I'm able
to increase how much I make? The second mistake keeping
you broke is the limiting beliefs about how you use money.
(04:21):
If you do not see money as a tool, you
will never have enough of it. I thought the purpose
of money was just to store it so that I
could have it in case something bad happened. I did
not understand that money is a tool and you have
to use money. I have $12,000 to be able to
turn into $100,000. So what am I doing with this
$12,000 that would allow me to make $100,000? This is
(04:44):
where if you do not have $100,000 in your bank account,
you have to be really honest with yourself. You are broke.
In order to not be broke, you have to learn
skills that allows you to make $100,000 even faster than
the first 100,000 that you made, but between 0 and 100,000.
In your bank account, all you invest in, all you
spend your time on, is how you learn new skills
(05:06):
that make you more money. And I get how hard
this is to do. I remember having $3,500 in my
bank account and thinking, there's no way that I'm spending
this on books or courses or education because I'm terrified
about losing this money. I wish somebody would have told Natalie.
Natalie with $3,500 in your bank account, even though you
feel like that's a security blanket. It's not. That will
(05:28):
not help you if there's a medical issue, if there's
something you want to invest in, you have no money.
$3,500 is no money. So take that 3500. Use it
as a tool to invest in yourself, to make more money,
because there's something that you don't know about making money.
In order to hit whatever your financial target is, you
(05:49):
have to continuously put your money towards learning new things,
Self-development and networking with people who have what you want.
I still do this today. Just this year I made
$150,000 investment for two days in order to go to
the World Economic Forum. The whole purpose of this investment
(06:10):
was for me to get in rooms with people that
I would never normally brush shoulders with. I am there
to learn. I am there to network, and investing $150,000
just to be someplace for two days without knowing anybody
is a risk. Could we put that money towards another business?
Could we put that money towards our business? Could I
put that money in real estate? Yes. But instead I
(06:31):
recognize that in order to get to where I want
to go, I need to be in proximity to the
people that I want to meet and who will help
me get there. So I invest my money because I
recognize it's a tool for me to get where I'm
trying to go. That brings us to the third money mistake,
which is not looking at your bank account. Seeing what's
in your bank account every day should ruin you, and
you have to get ruined in order to start making
(06:53):
better money decisions. If you really want to make more money,
you have to look at how much money you make.
And the best way to do this is instead of
hopping on Instagram in the morning, or hopping on YouTube,
or going to some email that you need to follow
up on, when you drive your attention to the amount
of money that you make, you are able to do
something about it instead of just pretending like you're doing
(07:16):
something about it. Pretending like you want to make more money.
If you're not looking at how much money you make,
if you're not confronting your financial statement, it's going to
be hard for you to actually improve it. The more
you measure something, the more you have control of improving it,
because you're looking at it every single day. So when
you look at your bank account every day, you should
really be focused on how much money you are making. Now,
(07:36):
if you have a spending problem, of course you need
to address this, but the idea here isn't to beat
yourself up or to feel bad about where you're spending
your money. It's more so to recognize how do I
make more money? How do I focus my attention on
the fact that I'm making $2,000 a month and I
want to be making $20,000 a month. So what would
have to happen in order for me to make $20,000
(07:57):
a month? How do I fix my financial situation? Because
this is one of the most important concepts about money.
Your expenses are only a problem if you don't know
how to generate income, because if you always increase your income,
your expenses wouldn't outpace how much you're making. But you
feel constraint and you feel worry. When your expenses go
above your income, all of a sudden things are out balanced.
(08:19):
If you knew how to double, triple, or ten x
your income, you wouldn't be worried about your expenses because
you know that you can always create more. The fourth
money mistake you are definitely making is thinking that long
term strategies will make you rich for one. And high
yield savings accounts are just distractions designed to keep you
in the middle class. I will never forget the first
(08:41):
time that I learned about compound interest, and how instantly
overwhelmed I felt, because I realized how much of a
sacrifice I would have to make today and every day
for pretty much the rest of my life in order
to hopefully have $1 million, to hopefully have $2 million
in like 30 years from now. And as soon as
(09:02):
I did that math, I was instantly defeated because I thought,
that is not a real strategy for me to make
the income that I want to have. That is not
the solution. That is more of a problem for me
than it is a solution for me. So then what
is the solution? It goes back to how do you
learn today how to make money. How do you learn
to take your income from $40,000 a year to $400,000
(09:25):
a year? What's wild about the world that we live
in is you can actually do that. You could go
from being a 40,000 a year earner to a $400,000
a year earner. Now, how would you go about doing that?
The fastest way you would do that is to learn
how to sell the ability to sell things, the ability
to overcome objections and create income is one of the
most valuable skills you can learn in order to make
(09:48):
more money. So you really have two choices. The first
choice is to always feel frustrated, to be in a
scarcity mindset, to worry about your financial future, and to
make a lot of sacrifices day after day, month after
month in order to, in the future, have some nice
pay off. Or you could think about how would I
make $2 million over the next two years? What would
(10:10):
be required for me to gain the skills necessary to
do that? Because I can tell you it is possible.
I see business owners do that. I see sales team
members go from making nothing in sales, never having sold
a thing to making hundreds of thousands of dollars a
year in sales. And this all comes down to how
you get attention on your product, your service, your business,
and then how do you convert that attention into income.
(10:33):
It is that simple. Next up is mistake five, which
is buying things that you can't afford. This spending rule
will change your financial future if you cannot buy something
twice and with passive income, you cannot afford it. Now,
I learned this rule from Grant Cardone, because Grant is
a fantastic example of somebody who has so much financial literacy.
(10:57):
And he taught me that if you can't buy something
that's fun, something that you've always wanted, maybe it's a bag,
maybe it's a pair of shoes, maybe it's a watch.
If you can't buy that thing two times and you
can't use passive income, meaning the money that you earn
from your money growing, then you shouldn't buy it. You're
(11:18):
not in a financial position to afford it. You shouldn't
have to wonder, how do I know if I can
afford something if you use this rule? Because if you
want a bag, let's say you go down to Chanel
and you're looking for a classic flap which has gone
up significantly in price. You're looking at $6,000 that you
have to spend for that bag. So in order for
you to apply this rule, you would have to be
able to buy it twice, which means do you have $12,000?
(11:40):
And is that $12,000 coming to you from passive income
versus earned income? You should never be taking the money
that you work day in and day out to create
and use that money to buy fun things. You should
be taking that money. Put it in assets that create
passive income for you, and from that passive income, you
(12:00):
can buy whatever you want. So if you use this rule,
you never have to worry about what can I afford
or what can't I afford? Because your earned income is
going towards things that produce passive income, which creates the
confidence for you that you can spend your money wherever
you want, but your true wealth is not going to
get destroyed because you're just spending it on fun things.
(12:20):
If you apply this simple principle, it will change your
financial future forever because you're never going to be worried
about can I or can't I afford something? You will
know that you can't afford something which should create a
whole lot of motivation for you to go out and
make more money, and that's possible for you. And you
can do it. Money. Mistake number six is that flexing
is the biggest red flag. It is so embarrassing to
(12:44):
flex and buy something that you actually can't afford. When
you think about the idea of making a money mistake,
the mistake would be thinking that money is going to
help you impress people. That's not the purpose of money.
The purpose of money is so that you can create
financial freedom for yourself. The purpose of money is that
you can be able to spend whatever you want without
having the fear and the anxiety that you could go backwards.
(13:07):
So in order to create that foundation, you don't get
there through buying things that you can't afford. Now I
get why you would want to do this because it
makes you feel better. It's an impulse purchase. You think
people will take you more seriously. And don't get me wrong,
the way that you look and the way that you
present yourself does help people take you more seriously. However,
when somebody shows up to one of our events and
(13:27):
they've decided to rent a Rolls Royce, or they're cruising
in in a rented Lambo, that demonstrates to us that
there is a huge red flag because it's very likely
that that person can actually afford it, which would demonstrate
to us that they don't actually know what to do
with their money. And they think that that's a flex.
They think that that's cool when really that's a huge
red flag. Because as a business owner or somebody who's successful.
(13:48):
You don't buy things you can't afford. You have strict
financial discipline because you recognize that money is a tool,
and you only have so much of it to use,
to grow, to use, to multiply, to use, to create
more resources in a business. So if you dig deeper
into why you feel the need to flex or to
buy something that you can't afford, ask yourself this who
(14:09):
am I trying to impress? Because if you're trying to
impress somebody that's not you, there's no purpose in going
out and buying that thing. And if you look at
your bank account and you would actually feel upset with yourself,
frustrated with yourself, maybe even disappointed that you purchased that thing,
then you recognize I am trying to impress somebody else,
and I need to flip the script, because what's truly
impressive is being able to create a financial legacy that
(14:32):
you feel proud of, not by having the coolest bag
or the latest watch, and the people that you want
to impress aren't actually impressed by it. Don't allow yourself
to get caught up in the luxury game and trying
to impress other people, because it will actually have the
opposite effect. I hate it when people. Beat up on
millennials and Gen Z for buying these sweet little treats,
(14:56):
and that the sweet treat is the death of the economy. Listen,
there is no coffee or lip gloss or one thing
that is going to create the financial ruin of an
entire generation. What is going to create the ruin is
if that same group of people doesn't think that they
can go out and have those things, it is not
bad for somebody to want a freaking latte. It is
not bad that you want to have the latest bag,
(15:17):
the latest shoes, whatever the latest thing is, as long
as you work to go, create those things. So I'm
not here to shame you about the sweet little treat
that you want, but don't deprive yourself of those things,
or think that you can't have those small little luxuries
every once in a while as a reward, but tie
it to a reward. Once you complete a book. Once
you actually implement what you read in that book. When
(15:40):
you have completed a course, make these sweet treats tied
to you, bettering yourself to make more income because it
is important to celebrate those wins. But the main focus
shouldn't be buying those things because they make you feel better.
Because the purpose isn't to make yourself feel better because
you're buying those things. The purpose is for you to
make yourself feel better about who you're becoming and the
(16:02):
education that you now have, and the skills that you've
acquired so that you can go and take action in
your life to improve your life. If you enjoyed this podcast,
you are going to definitely not want to miss out
on my new newsletter. It just dropped. I just started
creating this content and I am obsessed. Every single week
in your inbox, I'm going to send you business and
(16:23):
which is exactly what it sounds like. How do you
fit business and all of the other things in your
life so that you are up to speed on fashion, beauty, wellness,
all things that really matter. If you want to subscribe
and get this special gift and weekly treat in your inbox,
go to Cartoon ventures.com/news.
Welcome to business and the podcast for people making it
all happen. Running a successful business completely takes over your life,
but I'm a believer that there is still room for
some ands like health, wealth, beauty, and maybe even some fashion.
On this podcast, I'll share with you what's working for
scaling my nine figure business while keeping you up to
date on the latest trends, news and fun finds. This
(00:23):
is a place for business and let's dive in! Welcome
back to business and this particular episode. We are diving
into the money mistakes that are keeping you broke. And
I share a little bit about this $150,000 investment that
I just made in the last month in order to
(00:44):
be in rooms, and what I didn't share on the episode,
but am super happy to share on the podcast because
you guys get the behind the scenes, is me wiring
the money for the $150,000 for this two days was
like I serious debatable decision. I was like, is this
really worth it? I know nobody there. What if I
show up for two days and I don't make the
(01:06):
impact that I want? I don't meet the people that
I want. It's just a complete waste. We could invest
this $150,000 in so many other things right now. I
could invest it. I could spend it on things that
I want. Like, I went through this whole money noise
and then I reminded myself, Natalie, money is a tool.
The World Economic Forum is one of the most influential
places for decision makers, for policy makers, for future makers
(01:29):
on the planet. And it happens one time a year
and you happen to get invited to it. So you've
never done this before. You are going to make use
of this opportunity. You're going to do everything that you
can to make connections, to get yourself known, to create
promotion for the business through this opportunity. What is the
$150,000 good for? If I'm not able to get closer
(01:51):
to the people that I want to spend time with.
So funny enough, I haven't actually gone yet. I leave
for Switzerland tomorrow all by myself traveling to Davos in
order to go to the World Economic Forum. But I
have put so much prep work into reading all of
the sites or reading all of the the documentation on
(02:11):
the World Economic Forum, and just making sure that I
am so incredibly prepared to network, to learn, and to
make use of this $150,000 investment. But it's not really
real to people that you keep doing this as you
become more and more successful. Because oftentimes I'm talking to
somebody who might have $2,000 in their bank account and
how they use that $2,000 to make $20,000. Well, I'm
(02:32):
trying to use $150,000 investment to get in rooms with
people who are making billions of dollars. So in the
scheme of things, it sounds like a no brainer, but
it's still sometimes a difficult decision. And I wanted to
share that with you, because I feel like it's important
to be a little bit more transparent about some of
the things that I'm still doing today, to not give
up on where I'm trying to go, and it's still scary.
(02:54):
It will continue to be scary until I get to
where I'm trying to go, which who knows when that's
going to happen. But until then, I'm going to keep
investing and I hope you enjoy this episode. These are
the six biggest money mistakes keeping you broke and how
to stop making them today. The first money mistake is
the biggest thing holding you back, and that is not
believing you can have the life that you want. I
(03:15):
have to ask you this question how much time are
you spending trying to make more money? Because if you
aren't spending a lot of time truly looking at your
bank account, understanding what skills you need to develop that time,
if it's not being spent towards becoming a millionaire or
getting rich or improving your financial situation, then that's why
you're going to struggle. Because you don't actually believe you
can do it. Because if you believed you could do it,
(03:37):
you would spend your time in accordance with that belief.
And speaking of beliefs around money, let me just say
this you will not become rich saving money on coffee.
The people out there who are shaming people for buying
lattes and saying that it's financially irresponsible, that is not
what's going to keep you broke. What's going to keep
you broke is not believing that you can make more income.
(04:00):
Not believing that you can have a different life so
that you take the actions required. You can buy the Starbucks,
get the latte that is okay, but spend the majority
of your time figuring out how do I earn more income?
How do I become more valuable so that I'm able
to increase how much I make? The second mistake keeping
you broke is the limiting beliefs about how you use money.
(04:21):
If you do not see money as a tool, you
will never have enough of it. I thought the purpose
of money was just to store it so that I
could have it in case something bad happened. I did
not understand that money is a tool and you have
to use money. I have $12,000 to be able to
turn into $100,000. So what am I doing with this
$12,000 that would allow me to make $100,000? This is
(04:44):
where if you do not have $100,000 in your bank account,
you have to be really honest with yourself. You are broke.
In order to not be broke, you have to learn
skills that allows you to make $100,000 even faster than
the first 100,000 that you made, but between 0 and 100,000.
In your bank account, all you invest in, all you
spend your time on, is how you learn new skills
(05:06):
that make you more money. And I get how hard
this is to do. I remember having $3,500 in my
bank account and thinking, there's no way that I'm spending
this on books or courses or education because I'm terrified
about losing this money. I wish somebody would have told Natalie.
Natalie with $3,500 in your bank account, even though you
feel like that's a security blanket. It's not. That will
(05:28):
not help you if there's a medical issue, if there's
something you want to invest in, you have no money.
$3,500 is no money. So take that 3500. Use it
as a tool to invest in yourself, to make more money,
because there's something that you don't know about making money.
In order to hit whatever your financial target is, you
(05:49):
have to continuously put your money towards learning new things,
Self-development and networking with people who have what you want.
I still do this today. Just this year I made
$150,000 investment for two days in order to go to
the World Economic Forum. The whole purpose of this investment
(06:10):
was for me to get in rooms with people that
I would never normally brush shoulders with. I am there
to learn. I am there to network, and investing $150,000
just to be someplace for two days without knowing anybody
is a risk. Could we put that money towards another business?
Could we put that money towards our business? Could I
put that money in real estate? Yes. But instead I
(06:31):
recognize that in order to get to where I want
to go, I need to be in proximity to the
people that I want to meet and who will help
me get there. So I invest my money because I
recognize it's a tool for me to get where I'm
trying to go. That brings us to the third money mistake,
which is not looking at your bank account. Seeing what's
in your bank account every day should ruin you, and
you have to get ruined in order to start making
(06:53):
better money decisions. If you really want to make more money,
you have to look at how much money you make.
And the best way to do this is instead of
hopping on Instagram in the morning, or hopping on YouTube,
or going to some email that you need to follow
up on, when you drive your attention to the amount
of money that you make, you are able to do
something about it instead of just pretending like you're doing
(07:16):
something about it. Pretending like you want to make more money.
If you're not looking at how much money you make,
if you're not confronting your financial statement, it's going to
be hard for you to actually improve it. The more
you measure something, the more you have control of improving it,
because you're looking at it every single day. So when
you look at your bank account every day, you should
really be focused on how much money you are making. Now,
(07:36):
if you have a spending problem, of course you need
to address this, but the idea here isn't to beat
yourself up or to feel bad about where you're spending
your money. It's more so to recognize how do I
make more money? How do I focus my attention on
the fact that I'm making $2,000 a month and I
want to be making $20,000 a month. So what would
have to happen in order for me to make $20,000
(07:57):
a month? How do I fix my financial situation? Because
this is one of the most important concepts about money.
Your expenses are only a problem if you don't know
how to generate income, because if you always increase your income,
your expenses wouldn't outpace how much you're making. But you
feel constraint and you feel worry. When your expenses go
above your income, all of a sudden things are out balanced.
(08:19):
If you knew how to double, triple, or ten x
your income, you wouldn't be worried about your expenses because
you know that you can always create more. The fourth
money mistake you are definitely making is thinking that long
term strategies will make you rich for one. And high
yield savings accounts are just distractions designed to keep you
in the middle class. I will never forget the first
(08:41):
time that I learned about compound interest, and how instantly
overwhelmed I felt, because I realized how much of a
sacrifice I would have to make today and every day
for pretty much the rest of my life in order
to hopefully have $1 million, to hopefully have $2 million
in like 30 years from now. And as soon as
(09:02):
I did that math, I was instantly defeated because I thought,
that is not a real strategy for me to make
the income that I want to have. That is not
the solution. That is more of a problem for me
than it is a solution for me. So then what
is the solution? It goes back to how do you
learn today how to make money. How do you learn
to take your income from $40,000 a year to $400,000
(09:25):
a year? What's wild about the world that we live
in is you can actually do that. You could go
from being a 40,000 a year earner to a $400,000
a year earner. Now, how would you go about doing that?
The fastest way you would do that is to learn
how to sell the ability to sell things, the ability
to overcome objections and create income is one of the
most valuable skills you can learn in order to make
(09:48):
more money. So you really have two choices. The first
choice is to always feel frustrated, to be in a
scarcity mindset, to worry about your financial future, and to
make a lot of sacrifices day after day, month after
month in order to, in the future, have some nice
pay off. Or you could think about how would I
make $2 million over the next two years? What would
(10:10):
be required for me to gain the skills necessary to
do that? Because I can tell you it is possible.
I see business owners do that. I see sales team
members go from making nothing in sales, never having sold
a thing to making hundreds of thousands of dollars a
year in sales. And this all comes down to how
you get attention on your product, your service, your business,
and then how do you convert that attention into income.
(10:33):
It is that simple. Next up is mistake five, which
is buying things that you can't afford. This spending rule
will change your financial future if you cannot buy something
twice and with passive income, you cannot afford it. Now,
I learned this rule from Grant Cardone, because Grant is
a fantastic example of somebody who has so much financial literacy.
(10:57):
And he taught me that if you can't buy something
that's fun, something that you've always wanted, maybe it's a bag,
maybe it's a pair of shoes, maybe it's a watch.
If you can't buy that thing two times and you
can't use passive income, meaning the money that you earn
from your money growing, then you shouldn't buy it. You're
(11:18):
not in a financial position to afford it. You shouldn't
have to wonder, how do I know if I can
afford something if you use this rule? Because if you
want a bag, let's say you go down to Chanel
and you're looking for a classic flap which has gone
up significantly in price. You're looking at $6,000 that you
have to spend for that bag. So in order for
you to apply this rule, you would have to be
able to buy it twice, which means do you have $12,000?
(11:40):
And is that $12,000 coming to you from passive income
versus earned income? You should never be taking the money
that you work day in and day out to create
and use that money to buy fun things. You should
be taking that money. Put it in assets that create
passive income for you, and from that passive income, you
(12:00):
can buy whatever you want. So if you use this rule,
you never have to worry about what can I afford
or what can't I afford? Because your earned income is
going towards things that produce passive income, which creates the
confidence for you that you can spend your money wherever
you want, but your true wealth is not going to
get destroyed because you're just spending it on fun things.
(12:20):
If you apply this simple principle, it will change your
financial future forever because you're never going to be worried
about can I or can't I afford something? You will
know that you can't afford something which should create a
whole lot of motivation for you to go out and
make more money, and that's possible for you. And you
can do it. Money. Mistake number six is that flexing
is the biggest red flag. It is so embarrassing to
(12:44):
flex and buy something that you actually can't afford. When
you think about the idea of making a money mistake,
the mistake would be thinking that money is going to
help you impress people. That's not the purpose of money.
The purpose of money is so that you can create
financial freedom for yourself. The purpose of money is that
you can be able to spend whatever you want without
having the fear and the anxiety that you could go backwards.
(13:07):
So in order to create that foundation, you don't get
there through buying things that you can't afford. Now I
get why you would want to do this because it
makes you feel better. It's an impulse purchase. You think
people will take you more seriously. And don't get me wrong,
the way that you look and the way that you
present yourself does help people take you more seriously. However,
when somebody shows up to one of our events and
(13:27):
they've decided to rent a Rolls Royce, or they're cruising
in in a rented Lambo, that demonstrates to us that
there is a huge red flag because it's very likely
that that person can actually afford it, which would demonstrate
to us that they don't actually know what to do
with their money. And they think that that's a flex.
They think that that's cool when really that's a huge
red flag. Because as a business owner or somebody who's successful.
(13:48):
You don't buy things you can't afford. You have strict
financial discipline because you recognize that money is a tool,
and you only have so much of it to use,
to grow, to use, to multiply, to use, to create
more resources in a business. So if you dig deeper
into why you feel the need to flex or to
buy something that you can't afford, ask yourself this who
(14:09):
am I trying to impress? Because if you're trying to
impress somebody that's not you, there's no purpose in going
out and buying that thing. And if you look at
your bank account and you would actually feel upset with yourself,
frustrated with yourself, maybe even disappointed that you purchased that thing,
then you recognize I am trying to impress somebody else,
and I need to flip the script, because what's truly
impressive is being able to create a financial legacy that
(14:32):
you feel proud of, not by having the coolest bag
or the latest watch, and the people that you want
to impress aren't actually impressed by it. Don't allow yourself
to get caught up in the luxury game and trying
to impress other people, because it will actually have the
opposite effect. I hate it when people. Beat up on
millennials and Gen Z for buying these sweet little treats,
(14:56):
and that the sweet treat is the death of the economy. Listen,
there is no coffee or lip gloss or one thing
that is going to create the financial ruin of an
entire generation. What is going to create the ruin is
if that same group of people doesn't think that they
can go out and have those things, it is not
bad for somebody to want a freaking latte. It is
not bad that you want to have the latest bag,
(15:17):
the latest shoes, whatever the latest thing is, as long
as you work to go, create those things. So I'm
not here to shame you about the sweet little treat
that you want, but don't deprive yourself of those things,
or think that you can't have those small little luxuries
every once in a while as a reward, but tie
it to a reward. Once you complete a book. Once
you actually implement what you read in that book. When
(15:40):
you have completed a course, make these sweet treats tied
to you, bettering yourself to make more income because it
is important to celebrate those wins. But the main focus
shouldn't be buying those things because they make you feel better.
Because the purpose isn't to make yourself feel better because
you're buying those things. The purpose is for you to
make yourself feel better about who you're becoming and the
(16:02):
education that you now have, and the skills that you've
acquired so that you can go and take action in
your life to improve your life. If you enjoyed this podcast,
you are going to definitely not want to miss out
on my new newsletter. It just dropped. I just started
creating this content and I am obsessed. Every single week
in your inbox, I'm going to send you business and
(16:23):
which is exactly what it sounds like. How do you
fit business and all of the other things in your
life so that you are up to speed on fashion, beauty, wellness,
all things that really matter. If you want to subscribe
and get this special gift and weekly treat in your inbox,
go to Cartoon ventures.com/news.
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