Profit First Saved Businesses + New Money Habit Book Will Change Your Personal Finances Forever with Mike Michalowicz

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What if one simple change with a credit card could free up hundreds of dollars in cash flow every month? In this episode, I sit down with my friend and bestselling author Mike Michalowicz (Profit First, The Pumpkin Plan, All In, and now The Money Habit) to unpack a deceptively powerful tactic you can implement today and the money psychology behind why it works.

We start with Mike's ultra-practical subscription audit move: open an additional credit card, write "SUBSCRIPTIONS" on it with a Sharpie, and route every subscription streaming, software, app trials, memberships, even that "smart" mattress plan onto that one card. When the monthly statement hits, you feel a productive dose of pain and clarity. That visibility exposes zombie charges you forgot about and forces better decisions. Mike's seen people reclaim hundreds to over a thousand dollars a month using this alone. I've felt that sting myself. Even when you think you're tracking everything, consolidation turns "invisible" expenses into obvious targets.

From there, we zoom out. Mike shares the hard-won story behind Profit First how chasing revenue without true profitability led to a crash in 2008, a humbling reset, and the system that's helped entrepreneurs (me included) run healthier businesses and lives. We translate those principles to personal finance with his new book The Money Habit: don't try to become a different person; channel your existing habits to win with money.

You'll hear two big frameworks that clicked for me: Optimal Foraging Theory (hunt → preserve → consume). Most of us "hunt" income and immediately consume, but the win is in preservation first automating how every incoming dollar gets stored and allocated before you ever spend. Then there's Parkinson's Law applied to money: expenses expand to the cash available. That's why "I just need to make more" rarely fixes anything. More control before more income is the unlock.

We also hit the myth of lottery-winner doom. Mike's research shows winners with a money system become measurably happier; those without one spiral. Same income, different outcome because systems beat willpower.

On a personal note, I share how adopting Profit First years ago helped me carve out real profit, invest, and ultimately become work optional with enough passive income to let me choose how I spend my time. If you're serious about building cash flow and living a rich life now (not someday), this conversation gives you a fast, implement-today tactic plus a durable framework to keep what you earn and multiply it. Mike Michalowicz's links: - LinkedIn: https://www.linkedin.com/in/mikemichalowicz/ - Website: https://mikemichalowicz.com/ - Facebook: https://www.facebook.com/MikeMichalowiczFanPage/ - Instagram: https://www.instagram.com/mikemichalowicz/

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