Money Expert: How To Build Wealth WITHOUT Leaving Your Job! (3 Proven Methods) | George Acheampong
Jun 24, 2024
auto_awesome
Money expert George Acheampong shares insights on money mindset, overcoming financial trauma, shifting beliefs, budgeting, and building wealth without leaving a 9-5 job. He emphasizes aligning income with lifestyle goals, evaluating expenses, and making money work for you. The discussion also touches on the advantages of a 9-5 job over entrepreneurship, developing a money mindset, and prioritizing fulfillment over financial gain.
Align financial resources with desired lifestyle for fulfillment.
Shift mindset for proactive money management to overcome financial struggles.
Blend quantitative tracking with qualitative values alignment to address financial trauma.
Evaluate spending habits against personal values for sustainable money habits.
Deep dives
Building a Life Aligned with Your Values Through Financial Planning
It is crucial to align your financial resources with your desired lifestyle instead of focusing solely on the amount in your bank account. Reflecting on one's values and using investments to support desired activities, like travel or helping others, can lead to a more fulfilling life with less dependence on active income. Understanding the deeper meaning behind financial decisions helps in building wealth that supports personal goals and priorities.
Overcoming Financial Struggles and Transforming Mindset
Facing financial challenges, such as living paycheck to paycheck, requires a shift in mindset towards proactive money management. By increasing awareness of income versus expenses and evaluating fixed and variable costs, individuals can identify areas for improvement. Developing clarity on financial goals, making data-driven decisions, and taking immediate action towards financial stability are key elements in overcoming financial struggles.
Navigating Financial Trauma and Embracing Behavioral Changes
Addressing financial trauma involves a blend of quantitative and qualitative approaches to personal finance. Quantitatively, tracking income, expenses, and savings is essential for financial clarity. Qualitatively, understanding one's values and aligning spending habits accordingly helps uncover underlying financial traumas. Examining spending patterns in relation to personal values can reveal opportunities for behavioral change and achieving financial wellness.
Promoting Financial Awareness and Transformative Money Habits
Promoting financial awareness involves evaluating fixed costs, variable expenses, and future commitments to gain a holistic view of one's financial situation. Recognizing the impact of financial traumas on spending habits and attitudes towards money can lead to transformative shifts. By aligning spending with personal values, individuals can create sustainable money habits that support their long-term financial well-being.
Aligning Values with Spending Habits
It is important to align one's spending habits with their core values and beliefs. By examining where money is spent and ensuring it reflects personal priorities, individuals can uncover underlying financial traumas and areas of self-sabotage. Understanding the connection between internal beliefs and external actions is crucial for achieving financial alignment and avoiding discrepancies between stated goals and actual behavior.
Internal Beliefs Impacting External Results
The podcast emphasizes that external results can only rise to the level of internal beliefs. The concept of the 'internal identity index' highlights how personal beliefs shape external outcomes. By addressing and reshaping internal beliefs, individuals can unlock their full potential and align their actions with their desired goals, thus achieving greater success.
Accelerated Financial Independence through Strategic Investments
The podcast discusses strategies to accelerate financial independence through smart investments and leveraging assets. By utilizing investment accounts and borrowing against their value to acquire additional income-generating assets, individuals can multiply the impact of their initial investments. This approach can lead to financial freedom in a shorter timeframe, allowing for increased control over one's financial future.
Use the code "Wealth" when you check out to get 20% of your purchase: https://rebrand.ly/CJWealth
Follow Us!
Instagram: https://www.instagram.com/calumjohnson1/?hl=en
Twitter: https://twitter.com/calum_johnson9
Guest: https://www.instagram.com/georgeacheampongjr?igsh=MTFpeGV3emlvNGNnbw==
Watch our episode with Carter Cofield on how to save your taxes. https://youtu.be/YN2SsefYGNU
Timestamps
00:00 Intro
3:47 George’s first interaction with money.
12:04 The money mindset that you should teach your kids.
17:00 The money mindset you should develop.
22:28 How your money beliefs MUST shift overtime
30:32 How to WIN even in your weak moments.
45:27 78% of Americans live paycheck to paycheck.
50:56 How to know if you are spending too much?
57:16 How to overcome financial TRAUMA
1:08:17 Step by step breakdown to go from poor to rich.
1:20:42 Why you MUST set budgets.
1:25:09 The advantage of a 9-5 over entrepreneurship.
1:31:10 How to make your money work for you.
1:38:00 Money over passion.
About the video
George comes from a single-parent household and his mum struggled to provide for them, which led him to try to understand money from a young age. He followed that path to become top 1% financial advisor in the US. In this episode, he explains how anyone can achieve financial freedom and build wealth without leaving their 9-5 job.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
