5 Keys To Break Bad Money Habits (& What To Do Instead)
CRAFTED Millionaire
Cayla Craft
4.9 • 1.3K Ratings
🗓️ 21 December 2023
⏱️ 27 minutes
🧾️ Download transcript
Summary
Get ready to reach next level wealth! It all starts with changing your identity and your habits around money.
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Today we're talking about overcoming bad financial decisions that we've all made at some point. I'll share some of my own mistakes like overspending when money started coming in easily and the mindset and habit shifts to take your financial power back. I’m giving practical tips to live within your means, get out of debt, create a true emergency fund, avoid FOMO investing, and create a vision and plan for your money. My hope is that you take away some practical strategies to change your mindset and habits so you can avoid repeating those mistakes and truly prosper.
04:00 The biggest mistake we made when we first started making money.
08:00 How to avoid FOMO investing.
12:30 Overcoming overspending habits and building wealth.
17:15 Financial mindset and goal-setting that will set you up to create wealth.
22:15 Saving money by gamifying spending habits.
27:30 How to build discipline to change poor money habits.
36:00 The red flag I avoided when investing out of FOMO.
40:45 Ways to find the root of poor financial decisions so you can change them.
45:30 How is your inner circle impacting your wealth game?
50:30 Gamifying finances for better investment opportunities.
Transcript
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| 0:00.0 | Sometimes you've got to face your reality and go, okay, this is where I am right now. It's not where I'm going to stay, |
| 0:05.3 | but if I have a big enough gap, I'm actually going to be able to make more money because I'm not living a life of desperation, |
| 0:12.0 | and I'm living a life of inspiration so you've got to learn how to have |
| 0:16.1 | that discipline. Welcome to Crafted Entrepreneur the podcast for investors and entrepreneurs looking to say on top of the |
| 0:24.8 | latest trends and strategies in your industry. Give it up for your host. Entrepreneur and |
| 0:30.9 | investor, Kala Craft. |
| 0:34.3 | Hey, it's Kala. |
| 0:36.3 | If you're ready to multiply your money and your opportunities, |
| 0:40.7 | you are in the right place. |
| 0:42.4 | My goal is to provide you with valuable insights and |
| 0:45.3 | actionable tips to help you succeed in your business, your investment, and in |
| 0:51.2 | your life. Join me, industry experts, and successful investors |
| 0:56.0 | as we share our secrets to success. |
| 0:59.0 | Whether you're a seasoned pro or just starting out, |
| 1:02.0 | this podcast is for you. Remember, wealth is a game and I want you to win it. Welcome back to Crafted Entrepreneur. Today we're going to talk about overcoming bad financial decisions. |
| 1:21.2 | And I know as soon as you heard that, you probably started thinking and rocking up a list of all the bad financial decisions |
| 1:28.6 | maybe you've made in the past, maybe that you know family members have made or friends have made, but don't |
| 1:35.4 | you want to know how to bounce back from those decisions? |
| 1:39.9 | So I'm going to give you my top tips on overcoming them and making sure you don't find |
| 1:45.9 | yourself in the same position over and over again because usually what happens when you make |
| 1:52.3 | bad financial decisions is you get set. Usually what's debt so I might as well open up another credit card. What's it going to hurt me? |
| 2:04.0 | And then you rack up even more debt or you're somebody that says, you know, I already made this poor investment, |
... |
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