How To Change Your Mindset Around Money | Bob Proctor EP 726

2 Sep 2024 · 9 min

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In short

The Daily Motivation - Episode 726: How To Change Your Mindset Around Money with Bob Proctor

Episode Overview

  • Host: Lewis Howes
  • Guest: Bob Proctor
  • Focus: Changing the mindset around money to unlock abundance and achieve a fulfilling life.

Key Themes and Concepts

The Language of Money

  • Understanding the language of money is crucial for unlocking abundance.
  • Earning money is simple yet often misunderstood.
  • Wealthy individuals typically have multiple streams of income.

Personal Anecdote

  • Lewis shares a personal story about his work ethic and the misconceptions he had about money.
  • He emphasizes that merely working harder does not equate to financial success.
  • An experience of passing out from overwork prompted a reevaluation of his approach to money.

Principles of Abundance

  • Wealth does not come solely from hard work; it arises from fulfilling demands based on defined principles.
  • The importance of giving more than you receive in the pursuit of financial success.
  • It's essential to create a debt repayment program and focus on prosperity rather than distress.

Ignorance and Financial Illiteracy

  • Bob Proctor asserts that ignorance is the world's primary issue regarding financial well-being.
  • Many people remain stuck in their financial struggles due to a lack of knowledge and understanding of money principles.
  • Seeking advice from those who are not financially successful leads to further ignorance.

Financial Goals and Mindset

  • Setting financial goals and working towards them is vital for changing one's financial reality.
  • The concept of earning money even while sleeping highlights the power of creating passive income streams.

The Importance of Learning

  • Continuous self-education is necessary to understand personal financial behavior.
  • Bob shares a story about his poor relatives who needed to change their mindset to improve their financial situation.
  • He emphasizes that paying for education can increase commitment to learning.

The Role of Paradigm

  • A paradigm is a collection of habits that subconsciously controls behavior.
  • Changing one's paradigm is essential to change financial outcomes.
  • Everyone generally knows how to do better financially but may struggle due to their ingrained paradigms.

Key Takeaways

  • Shift Mindset: It's crucial to change the way you think about money to unlock potential.
  • Multiple Income Sources: Wealth often comes from diverse income streams rather than a single source.
  • Understanding and Education: The journey to financial success involves learning and understanding money's principles.
  • Behavioral Change: Changing subconscious programming (paradigm) is necessary for achieving different financial results.

Concluding Thoughts

  • Bob Proctor's insights advocate for an empowered approach to financial success through education and mindset shifts.
  • The episode encourages listeners to take actionable steps toward changing their financial future by understanding money better and altering their ingrained habits.

Next Episode

  • Lewis Howes invites listeners to return for more motivational content in the next episode of The Daily Motivation Show.

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Feel free to click the link in the description for the full episode and explore further insights from Lewis Howes and Bob Proctor.

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Transcript

Automatic transcript. May contain errors.

0:00Hi, my name is Lewis Howes and welcome to the Daily Motivation Show. Today's episode is all about taking control of the role that money plays in your life. When you decide to learn the language of money, you begin to unlock abundance in all the areas of your life.

0:25I think earning money is one of the simplest things I've ever learned. And it's one of the most misunderstood things. Wealthy people historically have always had multiple sources of income. They don't have one. They have many. I was cleaning floors. I thought the answer was work harder. Because I really wanted to earn some money. And I thought it was all important. Today, my attitude towards money has changed dramatically. I thought the answer was get another office to clean. I was working so hard, I passed out on the street. I would have been maybe 27, 28. I literally passed out on the street.

1:03I was working so hard. I came to and there's a great big cop looking at me. I was laying there. It was scary. There was a group of people around me. I saw lights flashing and I saw a couple of guys in uniform with a stretcher and it was scary. I had passed out. I guess they thought I had dropped dead. I got away and I got thinking, I'm not doing this right. Riches, when they come in huge quantities, never come as a result of hard work. They come if they come at all in response to definite demands based upon the application of definite principles and not by chance or luck. So you've got to find a demand and fill it, but you've got to follow definite principles to do it.

1:45In other words, it's got to be in harmony with the law. You've got to give more than you get. If you're trying to get forget it i got by myself and i thought i'm doing something wrong i was earning more money but here i'm passing that it's not this is not normal and it's like a little voice in my head said if you can't clean all of them don't clean any of them so i got all dressed up people now accused me of sleeping in my suit i got i wouldn't take a suit off i didn't matter where i was because Because I knew the cleaners were tired and I would go around, I got other people cleaning offices. And I knew pretty well where they'd be.

2:23So I'd drop around and I'd bring coffee and donuts and I would drop in and I would talk to them about goals. And then I'd go to the next person. But I always was dressed up because I knew how tired you get. And if I was in working clothes, they'd expect me to help them so they could finish and go home. But when I had shiny shoes and a suit and shirt and tie, they didn't expect me to help them clean. So I'd go on to the next place and then the next place. And that's when I started to open offices. I went from Toronto to Montreal to Boston to Cleveland to Atlanta to London, England. And you hired cleaners everywhere I went.

2:57We only have one problem in the whole world, and that's ignorance. They're living in ignorance. They don't know that what they're doing is going to keep them where they are. And they keep doing it because they don't know how to change. They're overwhelmed with the debt. People are saying, I need the money. They haven't got it. They want to take their family on a vacation. They don't have the money to go. So they may borrow and go anyway. Now they've got more debt. They have to understand that they don't have to live that way. You've got to create a debt repayment program where it's all done automatically.

3:32And then you focus on prosperity. You've got to have a financial goal. You've got to work toward it. And you've got to understand that you can earn more than you're earning. And wealthy people don't have one source of income. They have more than one. I was earning money all last night while I was sleeping. You can actually earn more money when you're sleeping than you can spend when you're awake. You know, it sounds like a cute line, but it's true. If you are not getting information from someone who is already wealthy, then you're probably getting information from the wrong people. Most people ask their brother-in-law, the guy next door, the girl they know, how do I earn more?

4:11Hell, if they knew, they'd be earning it. They don't know. And most people talk to people that don't know. Carlisle put it very well. He said he did not believe in the collective wisdom of individual ignorance. And that's where most people are getting it from. People don't know any more than themselves. I'm thinking, I better know who me is. I didn't know who me was. I was doing a lot of things. I was doing them right. I was very much, but I didn't know who I was. I started to study me. And the more I know me, the better I know you. You only have to study yourself. You'll know what everybody, because we're all the same.

4:41It's our behavior that's different, our results that are different. I had an aunt and uncle who were as poor as church mice. I mean, they just didn't have anything. And they had a whole house full of kids. And I used to drop by their house periodically. I was doing very well. And I was teaching seminar. And I remember it was around Christmas time. And he was rushing around trying to get credit cards from some big store so they could buy presents for the kids. And I said, you know something? He said, never mind. Next year will be different. I said, you know something? Next year is going to be exactly the same as it is this year because you never change you.

5:23I said, you should get into the seminars and learn something. I know something you don't know. Well, they came to the seminar. He got paid every two weeks. So that meant three times a year, I think. He'd get paid three times, maybe four times a year. He'd get paid three times in a month. I made them pay to come to it. Something said I made them pay. And I think they thought I should have clumped them into it. My aunt, I don't know how many times that I charged them. She said, we wouldn't have kept coming. I didn't even know what you were talking about. I was running seminars. It was seven evenings from seven to ten.

5:58We were running over a series of nights years ago. And she said, I wouldn't have kept coming. But she said, because we paid, I came. He's right. If they pay, they pay attention. That is so true. And if they don't, you're not going to care. When you hear something you don't like, this is not for me. I'm going to get out of here. I've got something better to do. Especially in L.A., I want to go to the beach. This is too hard work. It's confronting my ego. I don't need this. So you operate intellectually, emotionally, and physically. Well, your intellectual mind, the second you decide on it, you've got it.

6:35It tells you in the Bible, before you speak, I'll hear you. It's because a thought always precedes the word. The second you get emotionally involved, you've got it emotionally. You've got it intellectually, you've got it emotionally. It's only a period of time until you've got it physically. Be, do, have, yeah. That's right. But the have comes in a period of time. But we do know that it operates by the same laws. And the laws of the universe are precise. They can be studied. They can be understood. We operate by law. Our life is governed by laws. Like we know it's going to get dark tonight. We don't wonder if it is.

7:13You know when the tide goes out, it's coming back. Winter never follows winter. We know these things. That's all expression of law. I'm firmly convinced if a person doesn't understand a paradigm, a paradigm is nothing but a multitude of habits. They're programmed into your subconscious mind to control your behavior. It's got nothing to do with how smart you are. It's got nothing to do with what your formal education is. it's got nothing to do from which side of the tracks you come from it has to do with your paradigm the paradigm is a program in your subconscious mind it's both genetic and environmental that's controlling your behavior everyone that can hear my voice knows how to do better than they're doing and they may wonder why don't I do it it's because you're programmed to do what you're doing and until you change the program nothing's going to change paradigm has to be changed

8:11I am so excited for you to finish the rest of your day strong. If you enjoyed this episode, make sure to click the link in the description and it'll take you to the full episode of my other show, The School of Greatness. Make sure to come back tomorrow for another episode of The Daily Motivation Show.

From the publisher

Today's episode is all about how to change the way you think about making money so that you can achieve your greatest life with Best-selling Author, Bob Proctor.


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