Why You Can't Build Wealth (And How To Fix Your Money Mindset) | Lewis Howes

0:00Hi, my name is Lewis Howes and welcome to the Daily Motivation Show.

0:11You don't need a perfect financial plan. You just need to begin. And one of the things blocking you is not having the right systems in place. And that is shift number one. Shift number two comes from another powerful money mentor of mine, Ken Honda, who says that we need to be healing your early money wounds. Now, you might be thinking to me, you know, Lewis, what are you talking about money wounds? What is this? Well, this is something I talk about in my book, the New York Times bestseller, Make Money Easy, which is all about how to navigate the relationship that each one of us have with money.

0:50Because you have a relationship with money. I have a relationship with money. Your parents have a relationship with money. Your friends, your family, everyone has a relationship with money. And if you don't learn how to heal that relationship, you're going to keep living in stress in your nervous system every time you think about money, every time you see money, every time you see someone you don't like with money, every time someone asks you for money, you have an interpretation and an entangled relationship with money in your life. And if you don't learn about that, if you're not self-aware and you're not learning to mend that relationship with money, no matter how much you make, you'll always live in stress and chaos.

1:28And that's why we need to learn how to heal your early money wounds. And the lesson goes deeper than dollars. This shift that you're going to need to take about healing your money wounds, it's deeper than dollars. Most people think money problems start in adulthood. I'm trying to find a job and I can't find the right person. I'm not getting a raise. The money I invested, I lost. They think these things start now in adulthood, but actually they start in childhood. And this is an important distinction here. I love this quote. I think you have to look back on your relationship with money since you're five or six.

2:09We wake up to the reality when we are small. And then since then, we've had so many negative messages around money. Now, this is a big lesson for me because most of us are still carrying the financial beliefs and burdens we learned as kids. If that resonates with you, just nod or leave a comment yes if that resonates with you. Most of us are still carrying the financial burdens and beliefs we learned as kids. And some of those beliefs are money is stressful. Money is hard to make. Money makes people fight. Money doesn't grow on trees. We can't afford that. whatever it might be, without even realizing it, we live from these old money scripts.

2:58And I remember growing up in a small town in Ohio, it was just a stressful household. There was love. I knew my parents loved me, but they would argue with each other. And so it caused stress and my nervous system started to develop around money equals stress. Money equals fights. Money equals uncertainty. And it was stressful. It was challenging. I didn't know. I didn't understand at 5, 8, 12 years old, how do you navigate these things? The idea of money was always a challenge. And it made me realize, like, I'm afraid of this because I don't understand it. And the key takeaway here is you cannot build wealth with a mindset that was designed to keep you small.

3:46So if your identity is going from a place of your childhood money memories or money wounds, and if your identity says money is scary or I'm not good with money, that is an identity from your past. That means no strategy today will save you. You'll sabotage it without meaning to. And it's not your fault. I've been there before many times. I've sabotaged myself. I've lived with anxiety and stress around money for so many years that that's why I said, no more. I need to learn. I need to interview these experts. I need to learn how they dealt with the tactical, strategic side of money, of actually getting money, and then how to manage it emotionally, mentally, spiritually, psychologically.

4:32How do we manage it so that it doesn't consume them, so it doesn't overwhelm their life, but it enriches their life? And if that resonates with you, that, man, money, it's just overwhelmed me. You know, it's something I think about all the time because I'm anxious around it. I know the feeling. It's not fun. It's not a good way to live life. It's taxing. It's a burden, it feels like. And it doesn't become fun. We want to make money something that's fun, something that's light, not heavy. And once you start healing those early wounds, you'll stop repeating them. So a simple habit that you can implement right now is to identify your earliest memory around money.

5:16That could be, oh, my parents got in a fight. Oh, my mom said I couldn't go get this ice cream because we couldn't afford the money. Oh, I remember my parents like digging through the couch cushions to look for change to buy things. Whatever it might be, what are those early memories around money for you?

5:39I have a brand new book called Make Money Easy. And if you're looking to create more financial freedom in your life, you want abundance in your life, and you want to stop making money hard in your life, but you want to make it easier, you want to make it flow, you want to feel abundant, then make sure to go to makemoneyeasybook.com right now and get yourself a copy. I really think this is going to help you transform your relationship with money this moment moving forward. We have some big guests and content coming up. Make sure you're following. And thank you for listening to this episode of The Daily Motivation Show.

6:22Thank you so much for listening to today's episode of The Daily Motivation. And I hope you have an amazing rest of your day. If you enjoyed this episode, make sure to click the link in the description. That will take you to the full episode of our main podcast on the School of Greatness. And if you are loving the daily motivation, please follow us over on Apple Podcasts and Spotify and leave us a review over on Apple Podcasts right now. And if you want more exclusive content and ad-free listening experience, make sure to subscribe to our Greatness Plus channel on Apple Podcasts right now. And if you want to get even more inspiration from our world-class guests and learn how to improve your life and take it to the next level, then make sure to sign up for the Greatness newsletter and get it delivered right to your inbox over at greatness.com slash newsletter.

7:12Again, have an amazing day, and I'll see you tomorrow with another episode of the Daily Motivation Show.