7 Money Habits Keeping You Poor | Ep 10

Build with Leila Hormozi

Leila Hormozi

Education, Entrepreneurship, Management, How To, Business

5 • 867 Ratings

🗓️ 9 February 2023

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

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Summary

Which money habit are you guilty of? Today, Leila (@LeilaHormozi) shares the seven habits that keep us from becoming rich and how owning up to these mistakes can help us change our beliefs and habits around money.

Welcome to Build where we talk about the lessons I have learned in scaling big businesses, gaining millions in sales, and helping our portfolio companies do the same. Buckle up, because we’re creating an unshakeable business.

Timestamps:

(1:33) - 1st & 2nd Money Habit: Sacrificing today for tomorrow and avoiding measuring money

(6:55) - 3rd Money Habit: Ignoring your debt

(9:12) - 4th Money Habit: Not spending money to save time or promote growth

(11:47) - 5th Money Habit: Spending before you save

(13:09) - 6th Money Habit - Trying to look rich when you’re not

(15:38) - 7th Money Habit: Being comfortable with making what you are

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Transcript

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0:00.0	If you want to change from the scarcity mindset of money to the abundance mindset, you have to realize that money is a tool to accumulate education, experience, time, all of those things that are resources that cannot be replenished while money can.
0:15.2	How do you create an unshakable business? I cross $100 million in net worth by the age of 28. Now I'm growing
0:21.4	acquisition.com into a billion dollar portfolio. In this podcast, I share the lessons I've
0:25.8	learned in scaling big businesses and helping our portfolio companies do the same.
0:29.8	Buckle up and let's build. Today, I want to talk about the seven money habits that are keeping
0:36.6	you poor. Over the last seven years, I've spoken to about the seven money habits that are keeping you poor.
0:42.0	Over the last seven years, I've spoken to thousands of people who have all asked essentially the same question, which is, how do I not be poor, right? Or how do I be as successful as you?
0:47.0	How do I get as much money as you? How do I have as much money as you? And I've thought about
0:51.2	a lot of the habits that I've accumulated over the years in terms of money and beliefs that I've thought about a lot of the habits that I've accumulated over the years in terms of money
0:54.2	and beliefs that I've accumulated.
0:55.9	And I wanted to kind of break those down today.
0:57.9	So hopefully I can translate them to you if you're not in the financial situation that you want to be in.
1:02.2	So here's how I want to break this down is before you ask me, Layla, what are the beliefs
1:07.3	and habits that you have around money?
1:09.2	You have to first become aware of the beliefs and habits you you have around money? You have to first become aware of the
1:11.5	beliefs and habits you have that are holding you back, okay? Because we can't take a negative into a
1:17.1	positive. What we've got to do is take a negative to a neutral by bringing you aware of those
1:21.4	beliefs and habits and then take that neutral to a positive. So as I list these off, what I ask you to
1:27.4	do is to write these down and then ask yourself
1:30.0	which of these habits and beliefs do you hold that you need to break? So the first habit that I see a lot of
1:36.6	is sacrificing today for tomorrow. The first habit that I see a lot of is sacrificing tomorrow for today.
1:44.6	Now listen, this is a habit that people have in a lot of different areas of their life.
	...

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