966. Breaking Free From The Comfort Zone: Overcoming Financial Self-Sabotage
Oct 30, 2023
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Kelly Roach discusses finding purpose, drive, and passion in growing financially. She challenges conventional notions about money management, emphasizing the importance of being prepared for change. Other topics include the importance of impact, overcoming fear, and breaking free from self-sabotage. Learn about managing and preparing to receive money, as well as using money for impactful purposes.
Having a plan in place for managing wealth is crucial to avoid losing it or self-sabotaging.
As wealth increases, prioritize making a positive impact and changing lives over material possessions.
Deep dives
Having a plan for managing money is crucial
When earning a significant amount of money, it is essential to have a plan in place for managing it effectively. This includes seeking advice from professionals such as bankers and financial strategists to ensure that you are ready to receive and handle large sums of money. Without a solid management plan, many people end up losing their wealth or self-sabotaging due to feeling overwhelmed. While it may not be necessary to know exactly how you will spend the money, being prepared to manage it is crucial for long-term financial success.
Changing desires and valuing time
As you become more successful and accumulate wealth, your desires and priorities may change. The importance of time increases, and decisions are often driven by the desire to buy back time rather than acquiring more possessions. It is important to recognize that the process of growing and becoming a more successful person can transform your values and what you consider worth spending money on. Additionally, as wealth increases, there are endless possibilities for how to use the money, and it is easy to find ways to allocate funds for various purposes.
Focus on impact and servitude
When striving for business growth and financial success, it is crucial to focus on impact and servitude rather than solely chasing money. As a service-based business owner, the goal should be to positively influence and change as many lives as possible. By prioritizing making a meaningful difference in people's lives, the financial rewards become a byproduct of the impact created. While it is important to be prepared to manage and steward the money, it is not necessary to have a specific plan for its allocation. Instead, concentrate on being a good steward and on making a lasting impact through acts of goodwill, philanthropy, generational change, and other worthwhile endeavors.
In this episode of The Kelly Roach Show, Kelly discusses how to find purpose, drive, and passion to keep growing financially when you’re unsure of how to use the money you’re accumulating with your business. She also explores insights on managing money, overcoming fears, and embracing the transformative journey of wealth creation. She suggests that the motivation to grow one's business should be rooted in the desire to make a positive impact rather than the pursuit of material possessions.
Kelly emphasizes the importance of readiness in managing finances, especially when wealth accumulates rapidly. She challenges the conventional notion that you must know exactly how you’ll spend money in advance to make it and argues that as you grow and evolve, your desires and priorities change, and therefore, it is more important to focus on being prepared to manage your money effectively.
Also in this episode:
The importance of impact and positive change as the driving force for growth and success.
Evolution in values, such as prioritizing time over material possessions, with increased wealth.
Making money is a result of making a difference and changing lives positively.
Fear and discomfort are associated with earning and managing larger amounts of money.
The risk of self-sabotage or losing wealth due to feeling overwhelmed without a plan.