Quick Cut: S2E187 Building Your Financial Fortress
It's a Good Life
Brian Buffini
4.4 • 2.4K Ratings
🗓️ 2 May 2024
⏱️ 12 minutes
🧾️ Download transcript
Summary
Listen to the full episode here
Brian Buffini came to America with $92 in his pocket and eventually paid off crippling medical debt to achieve wealth and success. In this episode, he examines the common attitudes that prevent people from achieving financial success and outlines five ways to cultivate a high-performance mindset about money. Whether you’re struggling to eliminate debt or you want to save more and hone better money habits, this episode is sure to motivate you to take control of your finances once and for all.
Inspirational quotes from today’s interview
“Broke was my state of account; poor was my state of mind.” — Brian Buffini
“If you want to be successful, you have to be countercultural—you can’t avoid it, you can’t worship it and you can’t believe it’ll do anything to change your status.” — Brian Buffini
“People say ‘ignorance is bliss.’ No, ignorance is bankruptcy.” — Brian Buffini
“Money frees you up from doing things you dislike. Since I dislike doing nearly everything, money is handy.” — Groucho Marx
“Money is like fire—it can heat your home and cook your food, but it can also burn down your house.” — Brian Buffini
“It’s good to have money and the things that money can buy but it’s good, too, to check up once in a while and make sure you haven’t lost the things that money can’t buy.” — George Latimer
“Money can buy you a bed, but it can’t buy you a good night’s sleep.” — Zig Ziglar
“Align your resources with your values.” — Brian Buffini
“If you think no one cares if you’re alive, try missing a couple car payments.” — Earl Wilson
“I try to buy stock in businesses that are so wonderful that an idiot can run them because sooner or later, one will” — Warren Buffett
“When someone loses it all, it’s because they’re out of sequence.” — Brian Buffini
“An investment paid in knowledge pays the greatest dividends.” — Ben Franklin
“Bring more value to your hours so you can be valued for your hours.” — Brian Buffini
“A bank can’t foreclose on a property it doesn’t have a mortgage on.” — Brian Buffini
Books mentioned in the episode:
The Richest Man in Babylon by George S. Clason
The Total Money Make-Over by Dave Ramsey
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Transcript
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| 0:00.0 | Welcome to It's a Good Life with Brian Baffini, founder of America's largest business coaching company. |
| 0:10.0 | Here's a short classic cut from one of our all-time favorite episodes. |
| 0:15.0 | Today I want to talk to you about building a financial fortress. |
| 0:19.0 | You know for me, I came to America with 92 bucks in my wallet and I've built a financial fortress. |
| 0:24.0 | I've helped my company and a lot of folks weathered through |
| 0:27.6 | recessions and upsides and downsides and we're doing all right, we're eating good |
| 0:32.2 | as they say it back home. |
| 0:33.6 | But that wasn't where I started. You know, I started in a very small home on the south side of Dublin, |
| 0:39.6 | five boys and a girl and our grandparents living with us on the weekends. A lot of love in our home, not a lot of resources. But when I came to America, what I realized was that I was broke and I was poor. Broke was my state of account but poor was my state of mind. I knew I didn't have a lot of money |
| 0:57.8 | but I didn't realize that my thinking needed a change. So today I want to share with you a few things. First thing we're going to do is just a little |
| 1:05.1 | bit of facts and figures that kind of expose the culture's attitude towards money. Then I'm going to |
| 1:11.5 | contrast that with the high performance mindset towards economic |
| 1:16.3 | well-being. And then lastly I'm going to get into a bunch of how-tos and the checklist, if you |
| 1:21.1 | will, that will present both a defensive and |
| 1:24.0 | offensive strategy and we'll talk about that and why that's an important methodology |
| 1:28.0 | but also tied to a mindset piece because many people are afraid to become economically well to do because |
| 1:35.0 | their fear of losing it. |
| 1:36.3 | And I want to talk to you about how to have a defensive strategy so you don't lose it and |
| 1:39.7 | an offensive strategy so you know how to grow it. So let's talk a little bit about |
| 1:43.7 | the culture's attitude towards money. So the first attitude that I see, the |
| 1:49.2 | mindset that the culture has towards money is avoidance. |
| 1:53.2 | Wells Fargo did this massive survey and they said that 82% of people would rather talk |
... |
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