How Your Beliefs About Money Determine Your Financial Future | Transcription

Transcription for the video titled "How Your Beliefs About Money Determine Your Financial Future".

1970-01-01T01:01:12.000Z

Note: This transcription is split and grouped by topics and subtopics. You can navigate through the Table of Contents on the left. It's interactive. All paragraphs are timed to the original video. Click on the time (e.g., 01:53) to jump to the specific portion of the video.


Introduction

Intro (00:00)

We spoke about in our own. This is 15 minutes of freedom. I'm your host elite life optimization coach Ryan Nidell and today is day number five in the quadrant of finance. We've spoken about family budgets. We spoke about investingrant of finance. We spoke about family budgets. We spoke about investing in yourself first. We spoke about reading, something you know like trust and daily life. We spoke about journaling that down and how you're actually going to apply it. And then yesterday we covered declaring it. Physically speaking out in the world, finding someone you know like trust and respect to pour into, hoping to open up a dialogue that challenges your belief systems that will further embed what you learned. And if you can't have that, second best thing to do, grab the phone, turn it around, record the video, share it with the world, truly embed it deep in your subconscious. So you have instant access to memory recall for things you didn't even know you read.


Discussion Topics

Declaring (01:07)

Right, because the first couple of books, it's going to be easy. But by that time you keep this up for years at a time, you're going to need to have some sort of storage system in your mind, and that declaration is a great way to do it. But now I want to talk around beliefs.


Belief in Money (01:24)

I know a belief could in theory go into the second quadrant of her life. Faith. But we're not going to talk about belief in higher power. We're not going to talk in belief in spirituality. We're going to talk around the belief based in money. You see what happens, whether you agree with or not, whether you like it or not, you heard some stories about money when you were younger. So imagine if you will that you're hopping in a time machine with me right now. You hop in the time machine, you press the year, going back to when you were six or seven years old, whatever year that is for you. We're in time machine side by side with each other. We both type in our number, at mine as 1991. I press it and I'm flying back to 1991, and you're flying back to your year. And we land, we're in our home of that time. So wherever you lived at that moment, you're currently there. And around some sort of holiday, around some sort of daily communication about something that has to do with money, one of your parents or both of your parents said some things as it pertains to cash or the accumulation of cash or what one should do with money when they have it. What are some of those examples? I know in my household, as a child when I would say that I wanted something, I was told, that's great Ryan, but money doesn't grow on trees. Maybe you heard something comparable, right? Maybe that was something that you heard. Now again, I'm not casting dispersions upon my parents, right? That was their coy way of saying, sure, you can have whatever you want, you just have to work hard enough to earn the money to pay for it. But those two things create two different belief systems. And so as I share with this with you in your seven-year-old self sitting in that house listening to the conversations, think about what you're going to have to apply today for the children that are in your life so that you stop the cycle that has existed generationally. You see, because maybe that wasn't your story. Maybe your parents never said, money doesn't grow on trees. Maybe the first time you saw a nice car on television, a beautiful home, a special watch or some jewelry. Your parents chimed up as you said, what's that or why don't we have those? Said, ah, those are for the other people. We can never afford something like that. Which essentially locked you into not judging this, but a middle class mindset. You see, you think about it. We can go back to that same hypothetical conversation I just had. Let's say the The car's on TV, the jewelry, the watch, the vacation home, wherever it is. You said, man, that's incredible. Like, look at how big that house is. Why don't we have one of those? What would change if your parents said at that moment? We're working on it right now. We're working very hard and managing our money and our expectations to ensure the fact that we're able to have something as close to that as possible. That's not for us. Martyr, let's even take this a step further. And again, this is not based around political beliefs. But let's say your parents started saying things that only wealthy people get to do that your family did not get to do.


Parenting Dislike Parents (05:44)

Only wealthy people travel on airplanes. Only wealthy people get to do. Only wealthy people travel on airplanes. Only wealth of people eat at this restaurant. Only wealthy people get to do this. Only wealthy people get new cars. Even as young children, then we understand we're the opposite of wealthy, and there's no bridge on how to create the wealth to ever have us get those things. And so as children, we are embedded and implanted with these belief systems around what money is and how we accumulate it and how we associate with the different socioeconomic standards that exist in today's culture. We all do it. And so you're stuck. Right here you are 20, 25, 30, 35, however old you are. If you look at your life versus your parents life. All right, and this is going to be difficult. It's going to take a little bit of a, you know, pushing down of your ego just for one moment. If you look at your life and your parents life, they are most likely not that dissimilar. Certainly you may have ascended, right? You may have broken the ties that bind. But if your parents struggled with money, you probably struggle with money. Now, it doesn't mean, right, let's say your parents live in a small house in a conservative neighborhood, and you live in a big neighborhood, but their paycheck to paycheck and your paycheck to paycheck. You learn the same things. You never applied it to your life in a way that's going to make it so it grows. Let's say the other way. Let's say your parents educated you on how to go out and acquire wealth, create abundance, that life has limitless possibilities for you, as long as you lean into them, and hunt them down with ruthless commitment. I bet they live a very, very positive life as do you. What's even more impactful about this in my opinion is you're not stuck in either category. My parents certainly said like as I shared money doesn't grow on trees right and that's we don't get to have those type of things good they didn't get to but I do but history repeated itself in its own right took some of those stories got overextended spent more money than I had and basically lost everything five five and a half years ago. I'm very fortunate I got to go through that learning lesson before I was married before I had kids. Before I screwed up a whole generation, right? I got to learn those painful lessons on the front side. So what are the things that you have to reformulate as it pertains to your belief system around cash and how to acquire it? Are you going to work inside of a corporate America job for 40 years at 40 hours a week to retire with 40% of your income? Because that's what your parents said to do? And if so, that's okay, right? I'm not judging that if that's your life and that's what makes you happy go for it a hundred percent but if it's tugging at you and you think I don't I don't really think so I don't want to do that I want to create something I just don't know what if they're children listening I'm gonna tell them to put on some earmuffs if you say you want to create something you don't know what I call bullshit. You know exactly what it is that you want to do. You just are afraid to say it out loud. If you want to own a nightclub, then that's what you want to do. If you want to be a waiter or a chef, that's what you want to do. If you want to do, that's what you want to start a valet company because you really like parking cars, then that's what you want to do. Quit running from the fact that you know what you want to do based off judgment or beliefs that were instilled upon you when you now get to make the decision. Your beliefs get to be your own. And as you start to reformulate your beliefs and reformulate what you believe to be possible, you can also reformulate your relationship with money. your relationship with money. I look at this through future self-journling, right, that comes after meditation. The holistic psychologist, if you follow her, if not, hop on Instagram, type in the period holistic, period psychologist. She got an incredible resource called the future self-journaling guide she shares very openly completely reprogramms over enough time your belief in anything that you're not ultimately wanting to hold on to I look at it like we are all divine right there's only one of you there's only one of me we're all made in some higher creators like like like anything that exists has to also exist to me for me which would then make me abundant in my nature and my stature and if I'm I'm abundant in my stature and I'm tied to the source and I can have anything I want at any time if I work hard enough and create the belief system of myself that I deserve it. But deserve it because it comes from a place of purity, not because of a place agreed. And in my humble opinion, that is not humble whatsoever, I've seen this work countless times over and over and over again, if you change your belief system around money and you rewire the stories that your parents told you or your neighbors told you or your grandparents told you if you change how that all looks in your mind As you continue to go forward and produce at a higher level you'll be shocked at just how much you can get shit done.


CHANDR HOLD (11:02)

And in my humble opinion, that is not humble whatsoever, I've seen this work countless times over and over and over again, if you change your belief system around money and you rewire the stories that your parents told you or your neighbors told you or your grandparents told you if you change how that all looks in your mind As you continue to go forward and produce at a higher level you'll be shocked at just how much you can get shit done.


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