Today we’re diving deep into financial freedom and how to attain it with special guest speaker, Mel Abraham. Mel is a cancer survivor, trained CPA, and creator of The Affluence Blueprint. When he's not buying and selling multimillion dollar companies, he's advising powerhouses like Brendon Burchard on their finances.
In our conversation we begin by going over Mel’s journey to success, starting with:
With the culmination of his experiences, Mel generously goes on to share advice on:
Core Money Beliefs That Will Increase Your Income
First and foremost, you must realize that you can change your beliefs on money. Second (and lastly), money isn’t the “ultimate”. The ultimate is knowing you’re living your life in alignment with what you choose to do, and with the gifts that you’ve been given. Your wealth starts with valuing who you are, and in the process saying I'm going to give that to the world. This is what will allow you to put yourself out in the world to earn more and to price yourself confidently.
Understanding And Identifying “Money Symptoms”
This may be hard to accept, but whatever your current money situation is, it is a symptom of your decisions, behaviors, and habits of the past. This is as confronting as it is empowering, because that means all that needs to be done to change your money situation is to change those habits and choices. It means you’re 100% in the driver’s seat.
Why You’re Never Too Young Or Old To Build Wealth
Starting off on the young side, to those who might say, “I have plenty of time to build my wealth, why should I start now?” To put it simply, because when it comes to money, time is your great level and wealth builder. Furthermore, it’s a mathematical certainty money will compound and build over time when you consistently put it away. The challenge the young face is getting impatient.
For those on the older side, they might argue, “It’s too late for me, I’m not going to do anything.” If you only get 40% closer to your dream, it’s better than 0%. There are plenty of people who started to build their wealth at 50 and ended up millionaires. They were diligent, disciplined, focused, and stayed on the path once they realized it. You can too.
How To Tell If You’re Off Track Toward Financial Freedom
The first thing to ask yourself is, “What’s the relationship between my income and my spending?”
You have to be brutally honest about this relationship and get real with the numbers. Additionally, you should have a “money” date every month to talk about finances. This will help you stay on top of your finances. It will also help you resource plan, which is making sure that every single dollar that comes in has a job description in advance (i.e., mortgage, groceries, bills, etc.).
After getting real with your numbers and making a deliberate plan for every dollar that comes in, the next thing you need to do is evaluate every dollar each month to make sure you’re living into the plan. Fourth and final, have a mentor or accountability partner to walk the journey with you and make it easier to stay in the game.
Properly Educating Yourself On Financial Freedom
Beware media and social media finance gurus. They're not there to inform you or educate you, they're there to get eyeballs, viewer ratings, and advertisers.
Furthermore, when you start to see your emotions creep into your money decision, be cautious! When your emotions go up, your financial intellect goes down. This is the reason I got caught in a Ponzi scheme that wiped out a third of my net worth (between Mel and his two other friends, they lost over $4.5M). If you find yourself emotional about money because of the media, social media, your circumstances, then it’s time to get guidance and coaching.
A Free Experience To Start Building Your Wealth
Once a year, Mel host’s The Affluent Entrepreneur Experience—and no, you don’t have to be an entrepreneur to attend. During this 3-part live series you’ll deep dive into the priorities, process, and principles that you need to get your money straight, build your wealth, get a vision for your life, and get the stories out of your head that have been acting as barriers.
And finally, to wrap up our conversation, Mel shares with us the one insight that radically changed his life.
Thank you for tuning into The Rewire Your Mind podcast. Be sure to sign up for Mel Abraham’s program The Affluent Entrepreneur Experience. This is a free three-part live experience where Mel takes you through all of the processes, techniques, mindsets, and everything you're going to need to build a wealthy life, not just in terms of money, but also in terms of your legacy!
Register for The Affluent Entrepreneur: https://secure.melabraham.com/a/LxpFxx7OmR/1096
CONNECT WITH ME
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