The BIGGEST LIES About Money That Keep You BROKE! | Tom Bilyeu
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- เผยแพร่เมื่อ 6 พ.ค. 2024
- On Today's Episode:
Money allows you to cover your basic needs and it also gives you the ability to have new experiences and do really cool sh*t. No it doesn’t buy happiness, but not having the money you need to cover basics in life can make you feel really miserable.
In this money talk with Tom, we’re going to look at habits you have around money, both good and bad, and we’re going to help you find the path forward to what your version of financial success looks like. Your money habits, what you focus on, the story you have around money and your financial literacy are all important factors.
Let’s get you in the right mindset to:
Break away from the Time for Money tradeoff we’ve adopted
Start seeing money as potential to solve problems that allow you to earn more
Build habits that allow you to grow wealth
SHOW NOTES:
0:00 | Introduction to Money Talk
0:21 | Money The Great Facilitator
9:13 | Master the Game of Money
17:19 | Break Habits That Keep You Broke
35:17 | Adopt These Habits of the Wealthy
49:32 | Chasing Money for Happiness
QUOTES:
“Money is the great facilitator. Money doesn’t say anything about who you are as a person. It doesn’t mean that you’re good, it doesn’t mean that you are bad.” [0:32]
“Learn about money, master the game, so that you can play it very well.” [12:40]
“Money is not going to solve anything but money problems.” [16:58]
“Most people live paycheck to paycheck, even people that are making six-figures live paycheck to paycheck.” [17:56]
“If you’re not investing you’re going to be getting eaten alive by inflation.” [20:04]
“People are spending all of their money. Debt habit number one, you’re spending all of your money on liabilities and not assets.” [29:55]
“Be very thoughtful as you’re exchanging time for money. Don’t forget that you also want to be in a position where you can exchange skill set for money…” [34:37]
“People that get wealthy, [...] all they think about are solutions.” [36:33]
“If you turn to people for a handout all you’ll ever get is what they’re willing to put in your hand.” [38:37]
“Wealthy people that know how to use debt effectively, [...] they don’t sell the asset, they borrow against the asset.” [43:44]
Follow Tom Bilyeu:
Website: impacttheory.com/
Twitter: / tombilyeu
Facebook: / tombilyeu
Instagram: / tombilyeu
What was your biggest takeaway from the video? Drop a comment below!
Lately I’ve been thinking of buying cryptocurrency for retirement, I’ve set asides $350k to invest but along the line,I usually get cold feet, maybe because I have no idea what I’m doing, please I could really use some guidelines.
@@michealnguyen4989 In situations like this,I always recommend to people on getting guidance at least from someone that understands price action and all that while you strive on improving yourself by watching videos and learning fundamental analysis.
Investment guidance sounds like a great idea,thought about it before but never knew how to go about it.
@@reutermarco1960 I used to invest on my own because of making your money work for you mentality but never made any progress until I sought the guidance of Juan Antonio Landa and she has made me understand that strategy is everything.
Wow…..Juan Antonio Landa?
I was in that position in my business, I went from a 9-5 job to my dreams coming true when I opened a vintage shop in the middle of my city with the help of my local council, everything was going exactly how I had imagined, every second person would buy themselves something they loved and so many more customers were enjoying their money, I could feel all my years of hard work paying off, I felt so much joy and enthusiasm… then 9 months later the pandemic happened and it ruined everything, since then the last 3 years have been an absolute slog to the point where I’ve felt like giving up number of times, the business has still grown but the growth has been eaten up by rent and inflation, and half of my younger customers have been pushed out of the market due to this cost of living stuff going on right now, I’ve never felt more frustrated and resentful, but I cannot give up because my passion is still alive and so many of Tom’s videos have helped me understand and get through these challenges!
“At the end of your life nothing will matter more than what you did for someone else.” I don’t remember where I heard that but it stuck with me for the last decade of my life and immediately became one of my principles. I thought I knew exactly what that meant, but this chat in the beginning gave me a new perspective on it. I wasn’t making the connection between self-sacrifice for someone else, and adding value to someone else’s life. Now I understand that I can do something for someone else through the things and ideas I create, and this is even better because it has potential for life-long impact in someone else’s life, instead of just a one-time act of kindness.
One time act of kindness. So true. It can be so empty at times, depending on what is. I think maybe, is it sincere,is it born out love. Do we value life around us? Or do we just us it for personal gain? Whether we realize it or not.
“I’m wired to see people shine” is the story of my life! That talk gave me chills.
This video is so valuable. People don’t understand how valuable it is but if they do then it will change their lives! I’m taking a lot of useful decisions after watching this! Thanks Tom
Namaste Tom, I’m touched by your willingness to share with the world as you move through life and learn. A healthy relationship to -and financial education is of utmost importance and conventional schooling is often misguided. Grateful for how you apply yourself and show up as conscious human being sharing with his community. May your teachings reach far and wide. Bless your heart ~
Wish I had enough clout to be on your show and share what I’ve done in the past 18 months. It’s been a crazy explosion/story of your typical “employee” going all out buying a business and managing that alongside a full time career, two other businesses and a family. I now have so much life and experience I can speak life into what you are saying. I have been living it.
PS I will always rep Quest. Eating one as I write this brother
Bro thanks again, ive pretty much got a Playlist of your videos that I watch on a daily, and this one brought up alot of info from people like dalio, and Jaspreet, I almost live by your words haha 😂, the getting out of our own way thing too resonated with me heaps man, fark the amount of times I excused myself from doing something that would help just because I was scared about not being good enough to earn that amount of money and because I had dumb ideas around money, my beliefs and all were so fucked that I wouldn't even give myself the chance because I thought I'd just fail and I wasn't good enough to make thousands, watching all the videos I've seen so far spurring from your videos has wised me up on all the stupid thought patterns and dumb mentality I've had around money, sorry bout the big speal man, just really fucken love this ey, cheers bro thanks again for the good shit you do dude, I can't speak for anyone else bro, but I know these videos have helped me more than even psychologists, therapists and business class could ever have helped dude, looking forward to future content.
going from "i'm smart" to "i'm a learner" i need to integrate that
I found so much value from this video. Growing your passion vs "finding" your passion, Endurance plays the biggest role, & money being the great facilitator. This video has giving me both clarification & motivation.
@Tom, thank you so much for sharing this invaluable teaching on money. I am so grateful for you and your company Impacted Theory. You are such a blessing. Thank you for all the information that you share.
Masterfully organized. Delivered with intent, authority, and clarity.
This had a lot of depth and insights to it . Quality life lessons. Thanks Tom
I love that you made this. So much valuable info which is so needed..and I can see it’s coming 💯 percent from your heart. Thank you 🙏🏻❤️
Good for you Tom. It's about time someone stepped up and taught these basics about money. Not even our SCHOOLS teach this for God's sake!
The quality, depth, scope, scale, and overall value of your content is becoming an ocean sized moat itself.
Priceless understanding the financial system and equation of Time, Value , Money and where you fit and decide to play this game It’s such a paradigm compared to what most people know My frustration is that most people and governments talk about the need for financial literacy but you need to get business literacy as well ThankYou Tom for this video
Does anyone know the date of the second part? Was it a recent talk?
My biggest takeaway from the video was staying and focusin your mind on helping, solving problems!!! regardless of the red pill, the matrix, the level of the playing field, of the game, is equal, it’s anyone ‘s game to win and succeed! Thank you very much!
I love these solo motivational talks with Tom! I love the interviews too, but listening to these motivational talks first thing in the morning with Tom or Lisa motivates me the rest of the day!
Great! Now go produce more content for your channel… Good luck
Goodmorning Tom, Thank you so much dropping your video🙏
I once saw a video on the 2008 bailouts where there was a case made for the direct correlation between those financial institutions that received a bailout and their massive political contributions and connections. MANY financial institutions DID NOT receive a bailout and had to die or be eaten (acquired) by one of the ones that did. I was an investor during that time and believe me, I do not begrudge anyone for making money, but what was done during that time was ABSOLUTELY CRIMINAL!
Your correct Tom about money will never make you happy because it's not human. It's only a tool to get things accomplished. 👍
The amount of value that Tom's giving is just priceless....thank you Tom!
Thanks for the video Tom!! You've changed my life for the good, I am so grateful for you
Most times it amazes me greatly the way I move from an average lifestyle to earning over $65k per month
HOW!! I would really appreciate if you show me how to go about it.
I Started not too long ago and I use a portfolio/ investment manager, PHILIP MCNULTY. he's been guiding me with my investment since I began, i have made so much money since i started
I also need his info too,I'll write him too thanks ™
@@jamesdavid2818 He assist investor by guiding them, look his name up, PHILIP MCNULTY Investment Advisor, on the internet and send him a message.
This is one of those repeat videos! 🤞 Nice job Mr.Bilyeu! 🙏🏾
The past few deep dive episodes have been very helpful and informative. I’m really enjoying this long term format
Scam alert for me 😺
Hi Tom, I have listened to and read so many contents regarding getting rich by so many renowned people. By far, this is the best, the most sincere and honest.and practical. Tq from the bottom of my heart. ❤
Excellent Tom, excellent!
Why this is not taught in all high schools is beyond me.
I've truly learned a lot, thank you 🙏💯
You seem like someone with a very good relationship with money - I'm totally going to listen to this, thank you
Thank you Tom. You've already helped me so much with your videos.
Thank you very much Tom for this insightful video 😇
Thanks for all you're doing Tom ♥
Thanks Tom. I appreciate all u do for us
>>>
There are a lot of strategies to make tongue wetting profits especially in a down market but such sophisticated trades can only be carried out by proper market experts.
She appears to be well-educated and well-read I ran a google search on her name and came across her website; Thank You for sharing.
Her resume is mind blowing 😮just checked it out 😮😮..I really would give her a try
Thank you for this 🙏🏾
Thank you so much for posting this. Was having a down business day, needed to hear this!!
This should be taught in school. Education system is totally irrelevant to the important things in life.
Tom, thank you. I love your advice. No excuses! BTW- I think you are very intelligent. Thank you for you content.
The biggest problem in America is people living above their means. I have lived in other countries and I was a top account manager and collections specialist who never took money from anyone before doing a budget and let me tell you , American people are always always looking to go bigger and newer way before they should or even need to. New expensive cars trucks bigger newer homes. New shoes handbags clothing phones games it is absolutely not a need. I was one of those people always trying to keep up with the Jones. Stop trying to show up your neighbors and family all you are doing is hurting yourself. Buy a smaller house or used car or cheaper New car. One family has a $300 car payment $400 truck payment $1500 mortgage $250 car insurance and home insurance $400 electric bill $100 water and sewer $400 property tax every single month right back to the banks pockets and away from your financial future freedom. This is just madness and then have 4 children to take care of on top . People need to remember anything can happen at anytime. You are working just to pay other people's future
Thank you this is awakening
I will absolutely save this video to watch again and again. I think I know a lot of things from Rich dad Poor dad but its so hard to match this knowledge with real life. For example we live in a very expensive city because we luv it and all are friends are here, but it brings a lot of financial stress.
I will as well! Seems to be very sound advice!!!
Brilliant. Great lessons Tom👍
Thank you Tom, very helpful
Love your channel, which is why I subscribed. I have to correct you on one thing that is often misquoted. Money isn’t the root of all evil. It is said that the LOVE of money is the root of all evil. Very different.👍 Keep up the great content!
Thank you so much Tom i appreciate this video i run my own small business and i am money dumb lol!!! Im bad with the discipline of saving !!! Im going to look more into this thank you so much tom
Blaming anything besides yourself takes all your power away. Power is the only way to create the life you want. All happy and successful people I have heard from seem to take more accountability than what is fair so problems can actually be solved.
Also, money is made in direct relation to the significance of the problems you solve or value you create.
Thanks for this video Tom much appreciated
Tom - THANK YOU. I have learned an enormous amount from your videos on this topic.
I HAD TO PIN THIS UP IN MY TG COMMUNITY!! I'VE SEEN THIS MORE THEN ONCE. I NEEDED TO REFRESH MY GROUP'S MEMORY AND KNOWLEDGE. TOM, KEEP DROPPING THIS A1 CONTENT FOR HUMANS TO GET MOTIVATED! I LOVE WATCHING THIS PLATFORM. HIGHLY RECOMMEND IT!💰💰🔥🔥
Your videos are some of the most honest talks about money I've ever heard. Thanks.
A masterpiece! Thanks a lot!
Thank you for this!
life changing thank you so much Tom 🙏
I learn so much from these videos, thank you, thank you, thank you!!!
Love the content, There is nothing like straight talk, have Shared with my Young adults 😊
Well Done Tom! Thank you so much I know from previous videos you know what's going on on a big scale and I can really feel it is important to you to educate more people so they can have power and control over their own life's again. I believe this is exactly what this world needs rn and I thank you for using your platform for this! 🙏🏼
Wow tom your sincerity and giving approaches not only drive you but 😅others
this video should be played at school. thank you so much, Tom
I can't find the link of the Ironclap discipline workshop :( maybe because time has passed?
Big thanks for addressing what is actually Step One to equality. Little kids have GOT to be taught finance NOW. By the way, my heart longs for a savory vegan Quest.
This is just GREAT!! Thx Tom!
These long format videos of just Tom going deep on very important subjects is hugely valuable, Thanks Tom!
I’m Thankful Tom 💯
@TomBilyeu can you recommend any good source if info or podcast in finance? i.e. the Tom Bilyeu of Finance? 😊 so much going on in the market now… don’t keep cash in the bank or opposite, take advantage of the high interest rates, invest or not in real estate etc. would be nice to have a podcast that puts in it all in perspective. Thank Tom you’re really awesome.
@TomBilyeu Can you share the link to the David Foster Wallace “This Is Water” video please?
This was amazing, thank you Tom
Can’t find the books list Tom is referring to.
I'm 34 and never cared about money. Never liked the idea of money or the control it has on everyone. However I hate my 9-5* even more because my Time is worth more than the little money they trade for it. So, I'm here to learn how I can get away from the time wasting jobs.
U started to care about money late.
Thank you 🔥
Great job 👏
Love the fasting story at 1:44:40.
Insane video, 10/10, thank you.
So true. Your delivery resonated with me. Really meaningful.
🖐️🖐️🖐️🖐️🖐️✍️
You’re a gift to society
38:44 ... that one hit me ooft
Dude thank you for this
Tom you are selfless and a motivation to me on a personal level... Not only is your story awesome, but you are giving back a gift of knowledge. I appreciate this video and all of your other self help topics to live a better life for myself and for my family. Thank you 1 million times sir!!!
Excellent delivery of info we may have heard before, Tom - but this was really good.......
Tom always drop gems! The info he shares most people charge a hefty consultation fee. This guy is truly here to help others, with no other motive. In return he will consistently continue to be blessed! That's how the universe works! Good job Tom! You are a great mentor!
This was amazing!!!!
Biggest takeaway, Tom is an absolute beast and creates massive value for everyone .
This man is gold 💎
Understanding financial structure, yes!! You're coming from an aspect of having money. As you've stated, having 6 to 12mo available, and then invest. I feel I understand financial mechanics, but I'm still struggling weekly to get food on the table for my kids. I understand money, but don't want to be a scammer taking money from others to build money. What I'm desperately looking for, is a way to grow into a space where I can apply these ideas and my skills into benefiting others to grow my own families security and growth.
Totally loving this video, to be clear. !
So insightful. Thank you
🖐️🖐️🖐️🖐️🖐️✍️✍️✍️...........
I would add a caveat. If you need to feel always evolving, always improving, powerful and hungry to be happy then yes happiness will come in and out of your life all the time. But if you can celebrate life at every level, in good and bad experiences, in evolution and stagnation, because you see they all have a purpose, that they are part of your curriculum in a way, you'll never be miserable and suffering. You'll be joyful you can learn from those. That is easier said than done for sure.
The only video you need to watch on money
Tom Bilyeu is awesome. Another great video. Very useful.
“It is well enough that people of the nation do not understand our banking and monetary system, for if they did I believe there would be a revolution before tomorrow morning “ - Henry Ford
Thank you for this content.
The love of money is the root of all evil. What you do with it as you say up front, money is not the problem.
I didn’t know a lot u put all the missing blocks in my head thanks
Fabulous !!!
thank u for this video 🙏
You are about as good as it gets, you genuine, on point, well spoken, and generally squared away. Your legacy is very well deserved, thank you for spreading value across the world.
We need to be needed. 🙂❤️
Awesome episode!!!
Thank you