Wallstreet Trapper | The 3 MONEY HABITS That Keep You BROKE! (RICH VS POOR MINDSET)
Tom Bilyeu's Impact Theory
Impact Theory
4.7 • 5.2K Ratings
🗓️ 3 November 2022
⏱️ 110 minutes
🧾️ Download transcript
Summary
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On Today's Episode:
Does paid on Friday and broke by Monday feel familiar to you? Living paycheck to paycheck is killing millions of dreams and burying the opportunity for wealth alive. You don’t have the money to invest and purchase assets, but the thought of possibly losing money to stocks is more painful than spending $80 on food and drinks for a night out.
Not knowing what to do with the money you earn will keep you broke, frustrated and feeling deflated when you have one financial emergency.
Wallstreet Trapper in the financial business coach and investment coach simplifying the investment game to make it possible for everyone. He believes in building wealth one share at a time and is joining Tom for a conversation that is as jaw dropping as it is information rich.
His advice is simple. Learn how to save, spend, invest, borrow money so that you can build wealth in ways you didn’t think were possible. Information and knowledge are the key and the sooner you recognize that your money habits are making you broke the faster you can begin to improve your mindset and build wealth.
Catch Wallstreet Trapper’s background story and 1st episode with Tom here: https://youtu.be/TXNFLgl3Y1c
SHOW NOTES:
0:00 | Introduction to Wallstreet Trapper
0:37 | 3 Money Habits Keeping You Broke
4:03 | Business Isn’t The Only Way to Wealth
13:17 | Investing Made Easy for Everyone
21:54 | Paycheck to Paycheck Mentality
33:56 | Structure of a Poverty Mindset
44:23 | Value What Makes You Rich
1:03:01 | Build The Bricks for Wealth
1:14:36 | Don’t Focus on The Wealth Gap
1:20:51 | Doing This Changed Trap’s Game
QUOTES:
The reason why people are broke or people lack the money they should is because they don’t know how to operate money. They don’t know how to spend money, they don’t know how to invest money, they don’t know how to save money, they don’t know how to lend money.” [0:54]
“You can’t work 24 hours a day, but your money can.” [1:46]
“The moment you don’t spend on things you don’t need, now double back to the more things you can invest in [3:50]
“Investing in the stock market isn’t an IQ game, it’s not about being the most brilliant person in the world, [...] it’s about understanding basic economics.” [13:55]
“Everybody won’t be able to build a billion dollar business, but everybody can invest in one.” [15:07]
“A dollar that’s not moving is a dollar that’s losing.” [19:03]
“People who come from lower income, working class environments, the worst thing that can come to their mind is losing money that I’ve bust my butt for. That’s what makes the market so scary for them, and that confusion keeps them out of the market.” [21:40]
“When a family’s in survival mode we can’t think about money.” [28:02]
“People don’t like the truth because of how it makes them feel, but if you tell the truth they have no other option but to face it.” [48:53]
“You can store calories in another human being by feeding them when you have an abundance.” Tom Bilyeu [53:33]
“Building relationships with other successful people, or building relationships with people that’s based off integrity, can help your business get to another level because some rooms you can’t get in with money. Some rooms you can only get in based on who you know.” [56:17]
“You get what you celebrate.” Tom Bilyeu [1:02:44]
“I don’t want to focus on closing the wealth gap, [...] my focus is how do we now contribute to every person's family increasing their purchasing power.” [1:14:36]
“Be willing to get past the fear because the fear interrupts the legacy that you’re trying to build.” [1:23:40]
“If you can play the game on a high level the return on investment is infinite.” [1:26:30]
Follow Wallstreet Trapper:
Website: https://www.wallstreettrapper.com/
Twitter: https://twitter.com/Wallstreet504
YouTube: https://www.youtube.com/channel/UCR6hXiWOlFWc46qMFMClKHA
Instagram: https://www.instagram.com/wall_street_trapper/
Transcript
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| 0:00.0 | What's up guys? Today I am bringing you the man that broke himself out of the |
| 0:05.2 | matrix and is changing the game of wealth for people everywhere. He's one of my |
| 0:09.8 | all-time favorite guests. His name is the Wall Street Trapper. He's a financial |
| 0:14.8 | revolutionary with a street vernacular that makes building wealth accessible |
| 0:18.9 | and understandable to everybody. In this episode he breaks down three money |
| 0:23.3 | habits that keep you broke, explains how wealth is possible for everyone, and why |
| 0:29.2 | entrepreneurship isn't the only way to wealth. I hope you guys love listening to |
| 0:34.4 | this episode as much as I enjoyed reporting it. If you do please leave a review |
| 0:39.1 | on the podcast. It really is the best way to support us so we can get the show |
| 0:43.2 | out there to more and more people just like you that want more from their |
| 0:47.2 | life. I'm Tom Billi and welcome to Impact Theory. Wall Street Trapper. |
| 0:54.3 | Welcome back to the show. I love it. It's like a family reunion. Welcome home. |
| 0:59.5 | Thank you. Welcome home. All right. Thank you. Real fast. What are three things that |
| 1:05.2 | people do? Habits, money habits that keep people broke. Three money habits that |
| 1:10.5 | keep people broke. I would say the first thing is not investing at all and the |
| 1:14.8 | reason why not invest in. So the first thing is outside investing in yourself |
| 1:19.7 | because the reason why you are, people are broke or people don't have lack the |
| 1:25.0 | money they should because they don't know how to operate money. They don't know |
| 1:27.8 | how to spend money. They don't not invest money. They don't know how to save money. |
| 1:31.0 | They don't know how to lend money. Those are the full important things. |
| 1:34.4 | Investing? Well, just money principles. Learning how to save. Learning how to |
| 1:38.9 | spend. So I always say that if you have more money under your bed or in your |
... |
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