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the bossbabe podcast

490: The #1 Money Habit That Makes Entrepreneurs Rich with David Bach

the bossbabe podcast

Natalie Ellis

Self-improvement, Marketing, Business, Entrepreneurship, Education

4.92.6K Ratings

🗓️ 19 May 2026

⏱️ 62 minutes

🧾️ Download transcript

Summary

In this conversation, Natalie sits down with David Bach — the #1 New York Times best-selling author behind The Automatic Millionaire, with 10 books and over 7 million copies sold across 33 years in finance. David walks through the ONE money habit that the majority of America's 24 million millionaires share, why "some day never comes" for most entrepreneurs planning to sell their business, how buying the building your business rents turns operators into accidental millionaires, the 10-day stock-market stat that can cut your long-term returns in half, and the mortgage rule banks don't want you to know.  If you're an entrepreneur wondering what the smart financial move actually is in this economy, this is the playbook built for you. TIMESTAMPS 02:30 How financial groundwork buys you the freedom to choose 14:51 Where to start when your business is actually cash flowing 18:30 The #1 money habit: pay yourself first (before anything else) 19:55 The accidental-millionaire move hiding in your rent check 23:10 The lifestyle-inflation trap (and the "quiet wealth" exit) 33:35 Rent vs buy: the debate that only started 10 years ago 41:23 The two assets behind 24 million American millionaires 45:10 The 10-day stat that should change how you invest 51:30 "If I don't know, I don't owe" — the much needed lesson on money shame 55:00 Always borrow less than the bank offers you RESOURCES + LINKS Pre-Order The Freedom-Based Business Method. Join David's Insider Launch Team To Get Early Access To The 2026 Update Of The Automatic Millionaire — His Step-By-Step Playbook For Building Financial Security On Autopilot, No Budget Required Follow David On Instagram For Daily Money Insights: https://www.instagram.com/davidlbach/ Follow David On Facebook For Long-Form Financial Breakdowns: https://www.facebook.com/DavidBach/ Sign Up For Our Free Weekly Newsletter & Get Insights From Natalie Every Single Week On All Things Strategy, Motherhood, Business Growth + More.  Drop Us A Review On The Podcast + Send Us A Screenshot & We’ll Send You Natalie’s 7-Figure Operating System Completely FREE (value $1,997).

Transcript

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0:00.0

Welcome back to the Boss Bay podcast. All right, I am so excited about today's guest, David Back, because I discovered his work through one of his books, Smart Couples Finish Rich, and it completely changed the game when it came to mine and Stephen's finances. So I went on to read many of his books. I got to know him in person. He is incredible and he's such a powerhouse when it comes to all things finances and money.

0:25.6

And interestingly with this episode, I was like, wait, I'm getting an hour of his time. I'm going to get coached on some money stuff.

0:31.0

So I share a lot of mine and Stephen's financial philosophies and the way we think about money.

0:36.8

And I asked him some of the

0:37.8

burning questions that I really don't have a definitive answer to, like should we be buying

0:43.0

or renting? So we get into all of those details inside of this episode. And before you dive in,

0:48.7

I want to remind you that I have a book coming out so, so soon. It's called the Freedom

0:53.2

Based Business Method and it is designed to. It's called the freedom-based business method and it is designed to

0:55.2

help you build an incredible freedom-based business from scratch. We go through every single

1:00.9

principle and tactic you need to actually make it happen. So if you're ready, head to bossbabe.com

1:07.0

forward slash buy the book or check the show notes. Let's dive in.

1:15.5

I feel like I'm just like a complete movie all over again.

1:17.5

That's beautiful though.

1:22.3

Yeah, it's lovely. Well, I'm so glad you're here. I feel like we have so much to talk about.

1:27.2

So yeah, last time I saw you, was it five years ago, six years ago?

1:35.2

2019, because I was just getting ready to launch the latte factor.

1:39.9

Then I was getting ready to move to Florence, Italy, and take a nine-month sabbatical.

1:42.4

Yes, okay, tell me about it all.

2:04.4

Well, my God, there's so much to talk about, but, like, I mean, what's beautiful about this conversation is you're coming back from taking a break. And so I want to hear about your break, too, because as entrepreneurs, it's just critical to take a break. I mean, you were just joking. I don't know if you're putting the clips, but like, you feel brand new, right? You're having to remember how to do things. And I went to Florence Italy to take a nine-month break with my family. I wanted to move my kids abroad to experience living in Europe before they went to

2:09.8

college. And so I convinced my wife to like, let's go live in Florence, Italy for nine months.

2:15.8

Let's put the two kids in international school.

2:18.8

And let's just experience living in Europe. And nine months turned into, I'm now here seven

...

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