30 Behaviors That Are Keeping You Poor

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There are a bunch of behaviours that if you do them you will stay poor. They will keep you down in the dumps and keep you broke. Here are 30 behaviours that will keep you poor.

0:00 – Introduction
1:13 – #1: Do not look at your finances
2:31 – #2: Spend unconsciously
4:40 – #3: Focus on how things will make you happy
6:19 – #4: Have credit cards, car loans and personal loans
8:11 – #5: Increase your monthly subscriptions
10:03 – #6: Don’t educate yourself
11:30 – #7: Have short term thinking
12:29 – #8: Assume everything will continue to get better financially
14:10 – #9: Blame other people for your financial problems
16:07 – #10: Don’t have long term goals or plans
17:16 – #11: Don’t invest
18:48 – #12: Make bad investment decisions
20:15 – #13: Buy lottery tickets
22:04 – #14: Only save what’s left over
23:39 – #15: Buy things you don’t need
25:21 – #16: Keep up with the fashion trends
26:35 – #17: Spend money you don’t have
27.47 – #18: Buy everything brand new
28:28 – #19: Accumulate bad debt
29:58 – #20: As you earn more money increase your lifestyle
31:44 – #21: Keep your debt out of sight out of mind
34:04 – #22: Only look for problems in your life, not solutions
35:13 – #23: Don’t try to earn more money
36:28 – #24: Surround yourself with poor people
38:07 – #25: Try to save your way to financial freedom
39:23 – #26: Don’t have a budget
41:23 – #27: Don’t pay off the bad debt in your life
42:30 – #28: Believe rich people are evil
43:52 – #29: Try to impress people with your money
45:04 – #30: Have a scarcity mindset
46:39 – Summary

Should You Pay Off Debt or Invest? – https://www.youtube.com/watch?v=eicozV3mK0k
Cash flow calendar – https://www.youtube.com/watch?v=OzJWgFvJ5AI

Recommended Videos:

10 Things We Have Cut From our Budget – https://www.youtube.com/watch?v=eX5DoSRFjN4
How I’m paying off my debt – https://www.youtube.com/watch?v=TPuX7B6BPFY

Transcription:

Ryan 0:00
there are a bunch of behaviors that if you do them you are more likely to stay poor these behaviors keep you down in the dumps they keep you broke and they stop you from moving towards your financial goals towards financial freedom towards building wealth and i myself have been guilty of many of these behaviors in the past and even some of them now so in today’s episode we’re going to look at 30 different behaviors that are keeping you poor hi i’m ryan from onproperty com au helping you achieve financial freedom and what i want you to do is as we go through this list i want you to think about does this apply to your life are you implementing this behavior is this behavior keeping you poor and do you need to shed this behavior in order to move towards financial freedom now some of you listening may have a whole bunch of these behaviors in your life some of you may only have one of these behaviors so it’s up to you to determine which ones of these apply to you and then to systematically work on removing those behaviors from your life and replacing them with behaviors that are actually going to make you wealthy so without further ado let’s get into it behavior number one do not look at your finances do not track your finances do not pay attention to how much money is left in your bank account just put your head in the sand close your eyes tap your card and just hope that there’s enough money in your bank account to go through so rather than actually thinking about things rather than actually maintaining your focus on your finances seeing how much you’ve spent for the way just simply don’t track your finances at all if you want to stay poor because if you don’t track your finances what’s going to happen is you’re not going to know where you’re at financially you’re not going to have a plan at all you’re not going to have any any goals that you’re moving towards you’re just kind of hoping that everything’s gonna work out and when it comes to finances hoping that things are gonna work out they generally don’t if you want to be wealthy you have to be diligent about it you have to be disciplined and you have to actually work towards something so if you’re not keeping track of your finances that’s going to keep you broke because you’re not staying focused on a goal focused on a plan and that’s going to lead you to make decisions that aren’t in your best long term financial interest and that leads us to point number two if you want to stay poor spend on consciously so rather than thinking about your purchases and what’s going to get you the best bang for your buck and how you can be money conscious just go out there and just live unconsciously and spend unconsciously i don’t mean be asleep and be buying things on the internet while you’re actually unconscious an example in my life of where i used to do this and i still do it on occasion is that we would go out in the morning with the kids and we would go to a cafe for coffee now as you know i love my coffee coffee is you know $5 each so me and my then wife kelly we bought two coffees 10 bucks okay not that big a deal for a nice morning out but what we would do is we would just head out not have thought about food or anything like that go to a cafe end up buying coffees for ourselves drinks for the kids treats for the kids food for ourselves and then all of a sudden you’re in a nice cafe buying other smash and all of this sort of stuff gluten free cupcakes and they’re going to 60 or $70 in a morning now was that a great experience it was it was okay but if you’ve got kids you know what it’s like having young kids in a cafe and having three young kids in a cafe not the best experience quite stressful so okay for that 60 or $70 we got some food in our stomachs but could we have achieved that anyway got food now stomachs that we made ourselves and maybe 10 or $20 and then use the rest of that 50 or $60 to go out and have do something amazing take the kids out on an event go on a picnic you know there’s so many other things that you could do with that money to get a better experience so living unconsciously is just going out and just spending not really thinking about what you’re spending your money on and if you do this you’ll find that you spend your money on things that don’t actually give you much bang for your buck they actually add much quality to your life and they’re more expensive than what you would if you were living consciously in thinking about your money would pay so that is going to keep you poor if you’re spending unconsciously number three focus on how things will make you happy so rather than looking internally rather than learning about self development and becoming happier and more grateful in your life rather than living a life of abundance having great relationships instead focus on how things are going to make you happy focus on what you don’t have in your life and how that’s tearing you apart and making you happy and how good you’re going to feel when you buy that new couch those new clothes that new playstation that new tv whatever it may be those things are going to make you happy look no they’re not okay if you’re focusing on your life that things are going to make you happy they’re really not okay things yes purchasing things can be a great experience but overall what i’ve found in my life is that i’ve become a lot happier when i stopped focusing on things my computer is from 2013 and while it’s a great computer and while i would love the brand new imac from this year it works just fine okay it does the job that i needed to do and instead i focus on making finding happiness in my relationships finding happiness in my family finding happiness in the time that i spend with people as well as finding happiness in and of myself in the filament fulfilling career and business that i have so focusing on how things will make you happy is going to keep you poor because you need to constantly spend in order to buy things to keep that happiness level up because as soon as you start buying things your stuff gets out of date you’re not going to be happy anymore number four have credit cards car loans and personal loans in your life look if you are managing your money well unless you’re in a situation where you are extremely good at managing money and credit cards really serve you you don’t really need credit cards in your life and they’re going to keep you poor credit cards car loans personal loans are all going to keep you poor there’s some rare exceptions to that rule where you need to purchase a car in order to get a job that’s a higher paying career but in most circumstances living off cash buying things with cash is going to put you ahead financially much more than getting loans and getting what’s i guess called bad debt so i’ve always been against car loans in my life that’s one thing that i think i’ve been good at is that we’ve always purchased cars with cash that we could afford so my car is a 2600 jazz that cost us $6,000 about three years ago now that is still going strong today how much longer that will last i’m not sure but when it comes down to buying a new car probably going to spend around that five to $10,000 mark in order to purchase a car rather than getting a car loan to buy a brand new car that’s going to be 40 or $50,000 and the same goes for credit cards i always limited the credit cards in my life to $1,000 limit we then raised that to $2,000 because when i first got married i think we had combined about 10 or $12,000 in credit card limit which obviously got filled up and then you’re paying 13 to 20% interest so those sorts of debts in your life are going to keep you poor and really when you’re at that level when you aren’t financially free that sort of stuff just really going to hold you back and you really should learn to live off cash and so that leads us into number five if you want to stay poor increase your monthly subscriptions things that you have to pay each and every month we’re talking phone bills rather than getting prepaid like i have where you’re spending $30 a month go ahead grab the new iphone add that to $120 per month not only that get your nbn $100 a month of internet subscribe to netflix and stan and youtube read get a gym membership as well and then don’t forget other encouraging other recurring subscriptions that you can get in your life if you want to stay poor rack up those recurring subscriptions so that every single month you’ve got a set amount of money that you worked hard for that you need to pay on other things so you don’t have a discretionary option you don’t have a choice you’ve already decided to spend that money every single month no okay like that’s if you want to stay poor yes if you don’t want to stay poor then try and minimize those monthly subscriptions as much as possible so i have definitely minimize mind by moving to prepaid and you know just spending less on the phone canceling subscriptions that were unnecessary both in my business and my life that just means you’ve got more money each and every week each and every month that you get to decide what to do with and if you decide to spend it on netflix then great but often what happens is we get into the subscription cycles we sign up and we’re kind of using it but then we’re not assessing each and every month is this still valuable in my life is this worth the 15 the 30 the 50 the $100 that i’m paying for it or not we kind of forget about that it’s automated so we don’t think about it and money just kind of gets taken from us without us thinking about it so by deleting as many of those as possible you got more money in your life that you can Live consciously and spend consciously. Number six, don’t educate yourself. So don’t focus on self improvement. If you want to stay poor, don’t learn about personal finances. Don’t read Rich Dad, Poor Dad, don’t read barefoot investor don’t listen to episodes like this. Okay? education is so key to becoming wealthy, that if you want to stay poor, just don’t educate yourself, when you’re driving, instead of listening to podcasts that are going to teach you about money management teach you about how to make more money teach you about living in abundance. Rather than doing that, just listen to the radio, just listen to the gossip, listen to music, spend that time, not educating yourself, don’t read books before bed, just watch TV. Guys, I’m so passionate about education, which is why this channel exists. But I’ve always been passionate about education. Back when I was a pharmaceutical rep. I used to drive around the streets, I did so much driving each and every day going from pharmacy to pharmacy. And I would spend that time listening to podcasts on how to build online businesses how to invest in real estate, I would listen to all of this sort of stuff and educate myself while I’m driving, or even do it while I’m brushing my teeth. I put my headphones in and educate myself I listened to probably do over 50 to 70 books per year. So yeah, so I’m very passionate about education. But if you want to stay poor, don’t educate yourself. So number seven, have short term thinking. So don’t think into the future. Just think about the short term, what are the bills that you need to pay this month? What’s the parties that you want to go to this month? What are the things and the clothes and stuff that you want to buy this month, don’t think about Reggio that’s coming in six months time, don’t think about saving to invest for your financial future, that’s down the line. Just have short term thinking about how you’re feeling right now. And what you want to spend on money right now, if you get stuck in short term thinking, if you’re not projecting ahead towards your future, you are going to save poor, because the immediate needs of the now you need to fight against those in order to be able to pay yourself first to save and to invest. If you just have short term thinking, you’ve got no reason you’ve got no motivation in order to save for the future. So you’re just going to spend all of your money now. So that’s number seven, is to have short term thinking. Number eight, just assume that everything will continue to get better financially, that your career is only going to go in an upward trajectory, that you are only going to earn more money as life goes on that there are no cycles in your life just live and believe that things are always going to get better. And so I was definitely a culprit of this basically, living on the line realizing or believing that, you know, each month and each financial year, I would earn more money than the last. So I could live on the line. Because anything that I overspend I could make up for in the next year by earning more money. And that worked until it didn’t work. And then it all came crumbling down when I went through a separation. And when business had a downturn all in the same year. So if you live like everything’s gonna get better, then you’re living close to the line. And you’re not saving, you know, putting money away for a rainy day, you’re living exactly on your means. And what that means is when things do take a downturn, maybe your career takes a hit, and you need a low paying job, maybe you get pregnant. And so you go from two wages to one, if you’re living as if financially, things are always going to get better. What’s going to happen is eventually when things aren’t getting better, or when things go backwards, you’re going to be in a really poor financial position, and you’re likely going to get into debt, which is exactly what happened to me. So don’t believe that things are always going to get better believe that things go in cycles. Sometimes you’re going to have good years, sometimes you’re going to have bad years. And if you believe this, which is what I believe now, then you prepare for the future, you prepare for those bad times you put money away for that. So that when that does happen, you’re not getting into bad debt. So number nine, is blame other people for your financial problems. So the reason that you’re poor is not because of you. It’s someone else’s fault. It’s your family’s fault for not raising you, right. It’s the government’s fault. It’s some rich person’s fault. It’s your employer’s fault for not seeing your worth and paying you enough, blame someone else removed the blame from yourself because then you don’t have any responsibility. And if it’s someone else’s fault, there’s nothing you can do. So that’s a behavior that keeps so many people poor. Because if you’re blaming someone else, you’re giving all of your control over to that person. It’s their fault, and it’s their responsibility to fix your financial problems. So if you’re doing that, that’s going to keep you poor. Instead, we need to do is take responsibility for what you can take responsibility for For sure, sometimes things happen that are out of your control. Sometimes people rip you off, sometimes people mistreat you. I remember back in the day, I spent $1,000, which was basically all my savings at the time to buy an import USB sticks from China, to resell them and start a business, I got ripped off by that person, they sent me dads, they stole my money, okay, that person is to blame for losing that money. But then I was personally to blame for not being educated enough, not doing a small purchase in order to test them out. First not being rigorous enough in that not having buffer funds in place, there were so many things that I was responsible for. So I could blame that person and say, it’s their fault that I lost the money, it’s their fault, my business didn’t work, or I can take responsibility for what I did wrong, learn from it, and then I can do better next time. So if you want to stay poor, then blame someone else. If you don’t want to stay poor, take responsibility for yourself, even if it is actually someone else’s fault, because then you regain control. And then you can make decisions, you can improve, and you can improve your finances. Number 10. Don’t have goals or plans. So don’t have long term goals don’t have long term plans. This is similar to where we talked about just having short term thinking. But if you don’t have long term goals in your life, then you’re not going to have any reason to save or reason to move towards financial freedom. So having a clear goal that you want to achieve is going to motivate you to do the steps that you need to do in order to grow your wealth. And in order to get out of being poor. So have a long term goal or something that you’re trying to achieve and have a plan on exactly how you’re going to achieve that goal. Now that plan may change over time, as you learn. As you grow as your financial situation changes, you can adjust that plan, you can adjust your goals as well. But having a clear long term goal, having a clear plan of how you’re going to achieve that goal means you’re then going to take the action steps necessary in order to do that. So behavior that will keep you poor is not having that goal or plan. Because then you’ve got no motivation, you’ve got no strategy in place to actually stop being poor, you’ve got nothing to do. So you’ll just continue with your poor habits. Number 11 is don’t invest, don’t invest in anything, don’t grow your passive income, don’t grow your capital base at all, if you want to stay poor. So if you’re not investing, you’re not moving forward towards anything. Now, there is a balance when you’re paying off debt between should you invest or should you pay off debt. And I’ve done a video on that which I will link down below. But if you’re not investing, then you’re not going to move towards wealth because you’re just focused on your paycheck. You’re just focused on living in the day to day, which is always going to keep you poor, because if something happens to you, then you’re not going to have any income coming in. Basically, as Robert Kiyosaki says what you want to do is convert your earned income into passive income. And how do you do that you do that through investing. So if you want to stay poor, don’t invest, don’t build up your assets, don’t build up your passive income. If you want to stop being poor, then you need to find ways that you can start investing, or that you can start building assets yourself. So for me, I had done some investing, I’m not a great investor, I was money investing. That’s something that I’m working on. But I have been able to build assets from scratch through my business. So I’ve been able to build and create from scratch income producing assets in my life. And so while I haven’t like invested very much, I have spent a lot of my time energy and I guess money through the business in order to build and create those assets. So number 12, is make bad investment decisions. So this is kind of the step up from don’t invest at all is making bad investment decisions. And I definitely made bad investment decisions in my time. I invested in cryptocurrency shortly after the boom, I lost 1000s of dollars in that I did a video on how I lost 1000s in cryptocurrency. I’ll link up to that one down below. But that was a bad investment. I didn’t understand market cycles. I was very new to investing I got passionate about the technology behind cryptocurrency also the run up that cryptocurrency had and the chance that I could make money faster. So I got greedy in that. And I didn’t understand my fundamentals. Now that was a huge learning experience for me. I didn’t lose that much money. Yes, I was 1000s but it wasn’t my entire net worth it didn’t up end my entire life. But yeah, making bad investments rushing into things, not being educated in your investments is going to keep you poor because like me, you’ll probably lose money. So as I move forward now and firstly I’m paying off my debt, but when I do start to invest, I’ll be much more educated I’ll be much more safe, much more long term in my investments and the speculative investments that i have will be a small portion of my portfolio so if you want to say pour rush into investments make bad investments don’t be educated about it and hope to get rich quick okay now number 13 is buy lottery tickets just hope that you’re going to strike it rich now i hate lottery tickets and i’ve never bought a lottery ticket okay no i have bought lottery tickets in the past but not recently not in maybe the last eight years or something like that i used to work in a news agency where we sold lotto tickets and so people would come in every single week they will put their loved one i’ve actually got nothing against people doing that for a bit of fun but what i hated what i hated about people buying lotto is that their life goals their ambitions everything was hung up on them winning lotto and obviously the chance of winning lotto is one in millions it’s extremely difficult to do the chance of it happening to you is highly unlikely that’s the whole point of it basically it’s not going to happen if you look at the odds and if you are betting your future on a lottery ticket what you do is you again it’s kind of like to blame someone else is that you put the control into the hands of your lottery ticket so that’s what i hated about it is that people were delaying their lives they weren’t taking control of their finances because the only solution that they had was okay i’m going to win lotto then i’m going to be happy then i’m going to do the things that i love so i as a result of that decided i’m just not going to buy lotto tickets that i’m going to focus on achieving financial freedom and achieving my goals myself by by myself i’m going to take full control so if you want to stay poor buy lottery tickets and hope that that is your only way to wealth give control over to that but if you want to say if you want to move towards wealth then you’ve got to take control of that yourself so number 14 is only save what’s leftover at the end of the week or the end of the month now if you do this if this is your savings plan whether you plan to pay off debt whether you plan to save for a house or invest in shares or whatever it may be if you’re waiting till the end of the month to see what’s left over you’re not going to have anything left over the amount of people with the discipline to spend so frugally that they have money left over the end of the month is such a slim portion of the population and chances are it’s not you it’s definitely not me because there’s things that come up in life that you need to spend money on or you feel you need to spend money on and there’s pressures that come in that at the end of the month you don’t really have any money left over so to say paul if you just save what’s left over means you’re going to save nothing what’s better to do instead is to actually go ahead and pay yourself first so when the money comes in each month then you move aside a certain amount of that money to pay off your debt or to save your deposit for a property or to invest in shares or whatever it is that you’re deciding to invest in you pay yourself first so as the money comes in the first thing you do is put it towards your investments or debt reduction or whatever it may be then you pay your rent and things like that and then you try and live off the rest or you try and earn more money so you can afford to live off the rest so paying yourself first is going to move you towards wealth just saving what’s left over is going to keep you poor now let’s move over to number 15 and that’s to buy things you don’t need do you really need to upgrade your tv to the latest model do you really need the new playstation do you really need new clothes even though you just went shopping last week buying things that you don’t need is definitely going to keep you poor because if you’re out late at night watching an infomercial and you’re buying something off that infomercial chances are you’re getting on in life quite fine without those things so buying things that you don’t need is definitely going to keep you poor now i’ve kind of taken this to the extreme in my life and maybe taking it too far because i love minimalism and i love mindfulness and so in my life it’s amazing the things that you don’t need so i don’t have a jug right to boil water and don’t have a jug i don’t have a toaster okay i don’t have a microwave and these are just little things like they’re not expensive but you don’t actually need those in your life now most people will want those things that’s totally fine but i can boil water on the stove i can cook toast in a frying pan and i can warm stuff out on the stove so i don’t need any of those things i’ve learned to live without them it takes a little bit of extra effort but my life isn’t completely changed or completely different and not completely unhappy because i don’t have a microwave or a toaster i’m quite fine and so that’s an extreme example but there’s so many things in your life where if you just think do i actually need this like is my life okay without this is this going to have a dramatic impact on my happiness chances are it isn’t then don’t buy it otherwise if you keep buying things you don’t need you’re going to stay poor and that leads us to number 16 which is keep up with the fashion trends so this is i guess is an extension of buying things you don’t need but fashion trends change all the time they change in clothing they change in furniture they change in electronics and if you’re trying to keep up with the latest fashion that is an expensive hobby that you have because keeping up with the latest fashion you’re going to buy everything brand new you then probably just go throw out your old stuff or maybe you’ll sell it for cheap on gumtree or facebook marketplace or something like that but it’s an expensive hobby to have what i find to do or what i try and do is be more timeless in my choice of fashion and in my choice of items in my life so when it comes to furniture and homewares when it comes to clothing you’ll notice that i’m just more basic in what i do so i still feel that i am fashionable but i’m not on the high end of fashion so like i’m mostly just wear black and white t shirts they’re never gonna go out of fashion the cuts change from time to time and i wear them out so i have to buy a new ones but i’m not constantly trying to keep up with the latest fashion and spending excessive amounts of money in order to do that so that leads us to number 17 which is spend money you don’t have so get into bad debt buy things that you don’t need and keep up with those fashion trends by spending money that you don’t have so this is putting money on credit cards using afterpay all of this sort of stuff if you don’t have the money you probably shouldn’t be buying that item if you’re buying things with money that you don’t have you’re going to get deeper into debt which is going to increase your monthly repayments which will mean you have less money left at the end of each month to spend on the things that you need which means you’re going to spend more money that you don’t have and you’ll just get into that and bad debt cycle so one of the key things to get out of being poor is to stop spending money you don’t have and stop digging that hole deeper for yourself stop getting deeper in debt but if you want to stay poor keep spending money you don’t have if you want to get wealthy then spend we’re using the money that you do have until you get to a point where you’re extremely wealthy and then you’re borrowing other people’s money for investments that are going to produce more money that’s a bit different but spending money you don’t have on things that aren’t going to go up in value or create a passive income in your life that’s just going to keep you poor and that leads us to number 18 which is to buy everything brand new so buying everything brand new you’re going to spend so much more money than if you were to buy something used so let’s say your washing machine breaks you have an option you can buy a brand new washing machine that’s probably going to cost you what 400 to $500 or you can go on gumtree and facebook marketplace and buy a used one which is probably just as good going to do the same job for around $100 the same goes for i recently just sold a dryer so a new dryer might be what $200 or something like that i sold that dry out for $30 because i didn’t need it anymore but someone bought that for $30 and that was still in great condition the dryer it still worked i would have liked to have sold it for more but now i wanted to buy it for more but yeah $30 is going to do the job and there’s so many things in your life that you can buy used to save so much money number 19 get yourself into bad debt if you want to stay poor accumulate bad debt in your life and we’ve kind of already talked about this with credit cards and car loans and things like that but

bad debt is debt when you’re buying things that aren’t going to appreciate in value that aren’t going to deliver you a passive income good debt can be things like investing in property that’s going to be positive cash flow so you’re getting into debt but that debt is both helping you purchase an asset that is likely going to appreciate in value but also generate a positive cash flow so the tenant is paying for that debt so that good debt is going to add to your life increase your wealth and help you become financially free bad debt my buying a car like spending money and accumulating credit card debt doesn’t really add any value to your life it’s just going to increase your expenses because you have to pay for the interest on those things so accumulating bad debt in your life is going to keep you poor accumulating assets accumulating things that are going to generate passive income that’s going to make you wealthy and whether we do it without good debt that’s completely up to you now number 20 is when you earn more money increase your lifestyle i was definitely a culprit of this one is that as my income went up my lifestyle went up and for me that was more how we talked about living unconsciously and just spending excessively but also in terms of the rent that i paid for the properties and things like that is that as i earn more money i spent more money and so what happens and the reason that this keeps you poor is that your income goes up and then your lifestyle expenses go up so you’re not moving forward financially sure you’ve got a better lifestyle this keeps you poor because then you’re so reliant on that job you’re so reliant on that income and as soon as you lose that or as soon as that drops you’re used to living this lifestyle and it’s very hard to go backwards in lifestyle it’s very hard to go from renting a great place to renting a cheaper place but it’s much easier to just stay in a cheaper place and so if you increase your lifestyle it just it feels like crap to move backwards from that and you’re less likely to do that so you’re so reliant on your income that if that drops you’re going to try and keep that lifestyle it’s going to keep you in debt and you’re not moving forward anyway so ideally what you want to do is increase your income and maybe yeah sure increase your lifestyle a little bit but not excessively and so that gap where you increase your income but you haven’t increase your lifestyle then you use that towards investing and growing your passive income and as you grow your passive income and have good amounts of passive income in your life well then you can look at raising your lifestyle because it’s the passive income that’s raising your lifestyle not the earned income and they know that passive income is going to be there and it can continue to support you number 21 is keep your debt out of sight out of mind and i have done this in the past and that’s something that i’m very much not doing at the moment when you get into debt it’s it can be extremely overwhelming okay you need to look at all of these different debts that you have the repayments on those debts when they are due it’s very stressful it’s very overwhelming you need to come to the realization and admit to yourself that you’ve made mistakes and that you haven’t done things very well and looking at it and thinking about how the heck am i going to pay for this is overwhelming and makes you feel terrible but hiding your debt by putting it away in a drawer that when the debt collectors call you you don’t answer the phone when you get the mail you don’t even open it that is going to keep you poor to get on top of your debt you need to accept it you need to accept that it exists you need to write it down you need to map out exactly what debt that you have and then you need to keep it focused in your life so i have a cashflow calendar which i’ve talked about in a video i’ll link up to that down below but that helps me stay on track so i’ve listed all of my debts and i know when i’m paying each of those debts each month how much i’m paying off and when those are due so not only do i know the debts that i have but i’ve mapped out a calendar of how i’m going to pay them off and i look at that every single week and i keep track of that and see how i’m progressing so if you keep debts outside out of mind you’re not going to focus on paying them off you’re not going to focus on getting rid of them you’re likely going to accumulate more debt but what i found is that by having the debt in the focus okay i had to go through that terrible period coming to terms with the bad decisions that i made that was hard writing down the debt i nearly cried but now that i’ve written them down now that they’re on paper i’m able to move past those bad decisions and i see that as like this juicy target that i just want to tackle and i’d want to completely remove from my life so and went from being something that was overwhelming and really upsetting to me to now something that i’m passionate about removing i’m quite proud of the progress that i’m making so if you keep your debt out of sight out of mind is going to keep you poor but if you bring them into the focus it’s going to get you juiced up and excited to pay those off all right number 22 is to only look for problems in your life not solutions so if you’re just looking at the problems if you’re just looking for the reasons why you’re still poor the reasons why you can’t be financially free if you’re looking for problems if you’re looking for excuses you’re going to find them what you should do instead is look for solutions to those problems you don’t have enough money to pay off your debt what’s the solution to that problem if you didn’t have enough money to save what’s the solution to that problem start flipping the script and looking for solutions in your life to the problems to say okay how can i afford this not i can’t afford this our life so hard try and start thinking about how can i do this what’s the solution how can i make this happen and there’s going to be so many different solutions and some of the solutions you come up with will be good some of the solutions you come up with won’t be good but get your mind into that habit of looking for solutions, not just looking for problems. So if you want to stay poor, just look for problems, not solutions. If you want to move towards wealth, then look for solutions, not just problems. Number 23 is don’t try and earn more money or don’t try and build your skills so that you can earn more money through your career or through a side business. So this is something that a lot of people do they think about, okay, I want to get rich, but they don’t think about how can I earn more money.

Like, if you want to get rich, you need to earn more money. Like that’s, that’s, that’s part and parcel of how to do it. So what a lot of people do is that they’re in their career, they earn X amount per year, and they just think about how can I get rich off this amount per year, open up your mind, the world is abundant, the world is expansive, there’s people out there making millions of dollars every single year, there’s no reason why that couldn’t be you, and why he couldn’t increase your income. From what it is today. It is definitely time in your life that you’re spending watching TV, watching Game of Thrones or doing whatever it is that you’re doing that you could be spending, focusing on learning how to make more money, making more money in your life. So if you want to stay poor, just accept that whatever you’re earning now is what you’re going to be earning. And there’s nothing you can do about it. And you either get rich off this income or you don’t get rich at all, start thinking about how can I actually go ahead and make more money in my life. Number 24 is surround yourself with poor people. So you become a lot like the people that you spend time with. I’ve been spending time with one person a fair bit in particular. And I noticed I’m picking up mannerisms of this person, just in life in naturally become like who you spend time with. And one of the things I’m so grateful for in my life is my relationship with Ben Everingham, who’s the owner and buyer’s agent who runs Pumped on Property. And so he and I kind of push each other forward in terms of wealth creation, and we talk openly about our finances together, he knows how much debt I’m in, he knows what I’m doing to work towards that he knows what my financial goals are. And he encourages me and makes me feel like it’s possible. A lot of people, a lot of other people in my life, if I was to talk about my financial goals and what they are, they would likely talk down to me or they would see it as unrealistic or not encouraged me. But because Ben’s at a different level, we’re able to have those conversations, and he makes me more motivated, he pushes me forward, he teaches me things. I’m so grateful for that relationship. And I want to develop more of those relationships in my life, and people who are going to push me forward financially. So if you want to stay poor, hang around poor people who have all these behaviors that we’re talking about today. If you want to get wealthy, then start hanging out around wealthy people, because you’re naturally going to pick up those habits, you’re naturally going to get better at money, you’re naturally going to talk about money more, just because they’re doing it as well. Alright, number 25, we’re getting towards the end now, try and save your way to financial freedom. Now savings, a very important part of not being poor anymore, and building your wealth. But if you’re just trying to save your way to financial freedom, because you’re scared of risk, you’re scared of investing, that is a long road and a very unlikely road. The problem with China’s save your way to financial freedom is that we have a thing called inflation. Okay, money loses value over time as the government prints more money. And so inflation rates tend to be around two to 3%. A lot of people argue that the official inflation figures that come out are kind of botch figures anyway, and then inflation is higher. And inflation means that your money has less value, as time goes on to the point where I think it’s about, you know, every 30 years or so money halves in value. So if you put money in, in a sock, put it in your drawer, keep it there for 30 years, in 30 years time, you’ll be able to buy half as much as what you could, at that point in time where you put it in the sock in your drawer. So try and save your way to financial freedom, you’re working against the tide of inflation, and that’s going to make it hard to become financially free. And so trying to save your way to financial freedom is going to keep you poor. That’s why investing is so important. Now, number 26 is don’t have a budget, if you want to stay poor don’t have a budget, I didn’t have a budget basically until about a year ago, when I really started to get on top of my finances and wanting to get better at my finances. I tried budgeting in the past but really struggled with it. So just kind of through the concept out the window. And that has definitely kept me poor in the past. But having a budget by having a framework that you can work within that really helps you to spend money wisely to spend money consciously and to move towards your goals of financial freedom or whatever your financial goals are. But if you don’t have a budget if you don’t have a framework to work Within that, it’s very unlikely that you’re going to spend wisely and achieve your financial goals. Now, a budget can be as strict as some people do, which is they have categories, and they have set amount of money each week or each month for those particular categories. I couldn’t live in a world like that it was too difficult.

I needed some flexibility in my life. So my budget is that I pay myself first, I put money aside for my ongoing expenses, like health insurance, car insurance, the bills that I need to pay school fees, etc. And then I give myself a weekly discretionary budget. So I have a set amount of money each week that I’m allowed to spend on whatever the heck I want to spend it on. So if I want to spend that going out on the weekend, I can, if I want to spend that on petrol, I can, if I want to spend that on violence or groceries that week, I can, if I want to spend it on buying a new TV that week, then I can do that. What I do with that money is completely out to me. But I know that everything else has already automated that I’m already paying myself first that I’m paying off debt that I’m investing, I know that my bills, I’ve got money put aside for that. So weekly discretionary budget is just I need to be able to live, I need to be able to feed myself and my children. This week, I have this amount of money, what I do with it is up to me. So that’s the framework that works for me, when it came to budgeting, you need to find out what works for you. All right now, number 27, is don’t pay off the bad debt in your life. So we’ve already talked about accumulating bad debt as a way to keep you poor. But if you don’t try and pay that bad debt off, that’s going to keep you poor, that bad debt is probably not tax deductible at all, it’s probably on a high interest rate, as well. And it’s just going to keep you poor, because you’ve got those repayments that you continually need to make by removing the bad debt from your life, that then allows you to focus on your investments allows you to focus on building your wealth, which is so key to getting out of being poor and growing, your wealth is shifting from accumulating bad debt, you know, being stuck in bad debt. But once you’ve paid that off, now your focus shifts towards the investments towards growing your passive income towards building your asset base. And that’s where you really start to move out of being poor, and start to move towards being wealthy. So if you don’t pay off your bad debt, that’s going to keep you poor. But if you have a systematic approach to pay that off, and you know that you’re getting rid of that you’re not accumulating more than you can start to focus on becoming wealthy. Number 28. Is believe that rich people are evil. Sometimes we have this limiting belief in our life, that rich people are evil, that they only got there by ripping off other people. And look, that’s true. For some rich people. Like we’ve all seen The Wolf of Wall Street, he was not a nice dude, he took a lot of people’s money that he probably shouldn’t have taken. But not all rich people are like that. And a lot of rich people get rich through the businesses that they build, and the value that they add to the world. And so if you think rich people are evil, you’re going to blame them for the fact that you’re not rich yourself. But they’re also going to be something that you aspire towards, and be something that you work towards, or that you put effort into, if you think that being rich is not something that’s admirable and not something that’s desirable. So if you believe that they’re evil, that’s going to keep you poor. If you believe that being rich allows you to give more back to the world, then in order to get rich, you have to add a heck ton of value to the world in order to get rich, so you’re already adding so much value there. But then when you’ve got more finances, you can add more value to the world as well. So that’s what I believe. And then if you believe that, then that’s something worth striving for. But if you believe that rich people are evil, then you’re not going to try and do that. And you’re just going to stay poor. Number 29. Second, last one, try to impress others with the way that you spend money. So when you go out be that person in the bar that shouting everyone be the person who spends money on their clothes so that they look super good, so that they’re impressing everyone around them be the person with the latest iPhone. So people are like, Oh, you’ve got the brand new iPhone or whatever it may be buy things in your life to try and impress other people. That’s going to keep you poor pretty quickly because it’s very expensive to try and impress other people. And often it’s going to lead you to live above your means to accumulate more bad debt and not move ahead financially. So try and get away from trying to impress other people. Focus on yourself, find happiness within yourself, and have your

financial goals that you’re set out setting out to achieve and forget about impressing everyone else, you’ve got the goals that you want to achieve because you know the value that’s going to add to your life as well as the value you’ll be able to add to the world. But yeah, don’t stress about impressing other people. Instead, focus on your goals, your plan and implementing that. let other people worry about impressing you. And lucky lucky last number 30 is have a scarcity mindset. live in a world where you believe it’s a doggy dog world that in order for you to win, I have to lose that you need to be a cheapskate, you need to be stingy in order to get ahead. live in a world where you think money is scarce, you think that the world is not abundant, that’s going to keep you poor. However, if you open up your mind, if you open up your world to see the abundance around, you see the value that you can create in the world, the value that you can add to other people’s life, which they will then pay for you see that in order to get rich, you can actually create all these Win Win scenarios of abundance where everyone’s life is getting better as you’re growing your wealth. If you’re investing in property, you and if you’re building granny flats, well, you’re improving the world by creating affordable housing for people. But then you’re also getting that extra rental income coming in. So you’re creating abundance, but abundance is also coming into you. So it’s a very abundant world that we live in, try and open up your mind to the abundance that’s out there, if you don’t want to stay poor, and if you want to move towards wealth, so they have a Wow, wow, that was a big 130 behaviors to keep you poor and death definitely guilty of some of these still have definitely been guilty of some of these in the past. What are these are keeping you poor, at the moment that you need to fix, I’m just going to go through and summarize these. So we talked about a lot and try and think of one of these things as I read through this list that you’re doing in your life that you need to stop. So number one, don’t look at your finances, keep your head in the sand. Number two, spend it unconsciously. Number three, focus on how things will make you happy. Number four is having credit cards, car loans and personal loans. Number five, increase your monthly subscriptions. Number six, don’t educate yourself. Number seven, have short term thinking. Number eight, assume everything will continue to get better. Number nine, blame other people. Number 10 don’t have goals or plans for your life and your finances. Number 11 is don’t invest number 12 is to make bad investments hoping to get rich quick number 13 buy lottery tickets. 14 only save what’s left over 15 buy things you don’t need. 16 keep up with fashion trends. 17 spend money you don’t have 18 buy everything brand new. 19 get into bad debt. 20 when you earn more increase your lifestyle. 21 keep your debt out of sight out of mind 22 only look for problems, not solutions. 23 try to earn more money, or I mean number 23 don’t try and earn more money that’s gonna keep you poor. Number 24 is surround yourself with poor people 25 save your way to financial freedom 26 don’t have a budget 27 don’t pay off bad debt 28 believe rich people are evil 29 trying to impress others and number 30 had a scarcity mindset. So there you go 30 behaviors to keep you poor. Why here go ahead and check out the video that I did with Ben Everingham where we talk about some of the expenses that we cut from our lives in order to stop being poor. And to move towards being more wealthy. Go ahead and check that out or check out the video on what I’m doing to pay off my debt. Thanks so much for tuning in today. Until next time, stay positive