WEBVTT - My Payday Ritual That Changed Everything 0:00:00.120 --> 0:00:03.160 Welcome to business and the podcast for people making it 0:00:03.160 --> 0:00:07.320 all happen. Running a successful business completely takes over your life, 0:00:07.520 --> 0:00:10.120 but I'm a believer that there is still room for 0:00:10.119 --> 0:00:14.560 some ands like health, wealth, beauty, and maybe even some fashion. 0:00:14.840 --> 0:00:16.960 On this podcast, I'll share with you what's working for 0:00:16.960 --> 0:00:19.840 scaling my nine figure business while keeping you up to 0:00:19.880 --> 0:00:23.040 date on the latest trends, news and fun finds. This 0:00:23.040 --> 0:00:26.680 is a place for business and let's dive in. Welcome 0:00:26.680 --> 0:00:32.320 back to business. And we're talking about your payday routine. 0:00:32.640 --> 0:00:37.800 This is fun. Getting paid. Super fun. Super exciting. Super cool. 0:00:38.040 --> 0:00:41.760 But what's even more fun about getting paid is what 0:00:41.760 --> 0:00:45.440 you do with the money, and how you view that 0:00:45.440 --> 0:00:49.400 money is vital to your success as a business owner, 0:00:49.400 --> 0:00:52.159 as a leader, as a team member, as somebody who 0:00:52.159 --> 0:00:55.840 is trying to create a financial future of confidence and 0:00:55.840 --> 0:00:58.160 have a lot of trust in themselves. So these are 0:00:58.160 --> 0:01:01.020 my tips on what you do once you do get paid, 0:01:01.020 --> 0:01:03.980 and how to shift your money mindset to have a 0:01:03.980 --> 0:01:06.740 mindset that is in alignment with the type of financial 0:01:06.740 --> 0:01:10.140 freedom you are targeting for the future. I hope you enjoy. 0:01:10.459 --> 0:01:13.539 The first one is the most important. The ultimate secret 0:01:13.540 --> 0:01:17.340 to building wealth is a simple daily reminder you are 0:01:17.340 --> 0:01:20.820 broke even if you're making $50,000 a month. You see, 0:01:20.819 --> 0:01:22.740 when you start to think about how much money you're 0:01:22.740 --> 0:01:25.100 making and you get excited about the amount of money 0:01:25.100 --> 0:01:28.380 you're making, you need to reduce yourself back down to zero. 0:01:28.420 --> 0:01:31.340 The way the people who are successful think about money is. 0:01:31.340 --> 0:01:35.780 It is an ever evolving, ever changing, ever attention grabbing tool. 0:01:35.780 --> 0:01:37.860 It's something that they need to put their attention on, 0:01:37.900 --> 0:01:40.260 they need to focus on. Because if you don't focus 0:01:40.260 --> 0:01:43.059 on it, it is going to stay stuck, which because 0:01:43.060 --> 0:01:46.780 of inflation, actually means that your money is getting devalued. 0:01:46.780 --> 0:01:51.180 By fully accepting that you're broke, you shift your identity 0:01:51.340 --> 0:01:54.860 and you open yourself to take the disciplined actions that 0:01:54.900 --> 0:01:59.140 lead to wealth. This mindset creates an internal urgency to 0:01:59.290 --> 0:02:02.490 keep working, to keep building and to focus on the 0:02:02.490 --> 0:02:05.250 impact you create. The moment you start thinking you have 0:02:05.250 --> 0:02:07.370 a lot of money is the moment where things start 0:02:07.370 --> 0:02:10.570 to go awry. If you're like me, who thought she 0:02:10.570 --> 0:02:13.730 was rolling in dough when she dropped out of college 0:02:13.730 --> 0:02:17.370 and had $3,500 in her bank account? You are mistaken. 0:02:17.370 --> 0:02:21.250 There is no real security in the money that you have. 0:02:21.290 --> 0:02:24.050 The security that you have is in your ability to 0:02:24.090 --> 0:02:26.370 earn money. The amount of money you have today is 0:02:26.370 --> 0:02:28.730 based off of yesterday's work, so the only way to 0:02:28.770 --> 0:02:31.530 truly create financial freedom and security is to have so 0:02:31.530 --> 0:02:34.410 much confidence in what you can create today that would 0:02:34.410 --> 0:02:37.370 allow you to make an impact on your bank account. Now, 0:02:37.410 --> 0:02:41.329 yesterday's money is fantastic. Let's say you made $5,000 last month. 0:02:41.330 --> 0:02:44.890 That's awesome. Your target for this month should be $10,000 0:02:44.889 --> 0:02:47.890 because you're broke. The money that you created, the wealth 0:02:47.889 --> 0:02:50.690 that you have, the work that you did is already over. 0:02:50.690 --> 0:02:53.250 And it's crazy because I have watched people who have 0:02:53.250 --> 0:02:55.169 made the exact amount of money that they could have 0:02:55.169 --> 0:02:58.869 only dreamed about five years ago, within a couple of days, 0:02:58.870 --> 0:03:01.790 maybe at most. A couple of weeks start to get insecure. 0:03:01.790 --> 0:03:03.910 And the insecurity comes from the fact that they are 0:03:03.910 --> 0:03:07.790 no longer doing what's required to create wealth. And as 0:03:07.790 --> 0:03:12.350 insecurity creeps in, you start to constrain, you start to doubt. 0:03:12.389 --> 0:03:15.190 You start to take less risks instead of truly being 0:03:15.190 --> 0:03:18.149 at a place to have financial freedom. So yes, you 0:03:18.150 --> 0:03:20.950 are broke. There's no shame in being broke. The only 0:03:20.950 --> 0:03:23.190 shame in being broke is by thinking that you're not 0:03:23.190 --> 0:03:25.790 actually broke, because now is the time where you need 0:03:25.790 --> 0:03:28.790 to take action in order to get unbroke. Next is 0:03:28.790 --> 0:03:32.270 number two. Most people never think with big enough numbers. 0:03:32.270 --> 0:03:34.830 How much money could actually change your life? Have you 0:03:34.830 --> 0:03:37.589 ever thought about this? Forget where you are today. Is 0:03:37.590 --> 0:03:40.390 it $5,000 a month? Is it $10,000 a month? Is 0:03:40.390 --> 0:03:44.550 it $50,000 a month? $100,000 a month, $1 million a month? 0:03:44.550 --> 0:03:46.950 What is the number? Because if you aren't clear on 0:03:46.950 --> 0:03:49.190 the number, I promise you you're never going to get 0:03:49.190 --> 0:03:52.310 the number. A wild thing happens when you really do 0:03:52.310 --> 0:03:54.990 the math with large numbers, because you will figure out 0:03:54.990 --> 0:03:57.310 very quickly that what is required to get you to 0:03:57.350 --> 0:04:00.700 where you want to go is entirely different from what 0:04:00.700 --> 0:04:03.780 you're doing today. And we've already gone to zero because 0:04:03.780 --> 0:04:05.980 we now know that we're broke. As long as we're 0:04:05.980 --> 0:04:09.180 clear that the actions we're taking today are creating this 0:04:09.180 --> 0:04:12.140 broke state, we have a lot of control, because what's 0:04:12.140 --> 0:04:15.780 required then is to just act differently. Today. If you 0:04:15.820 --> 0:04:19.580 are currently making $5,000 a month and you think $50,000 0:04:19.580 --> 0:04:24.180 a month would be life changing, game changing money for you, amazing. 0:04:24.180 --> 0:04:27.260 How do you ten x the output? Now, if you 0:04:27.300 --> 0:04:30.300 work in an hourly job, I can promise you that 0:04:30.300 --> 0:04:32.740 you just ten x amount of hours that you work 0:04:32.740 --> 0:04:35.540 in a day doesn't work, because that math doesn't math. 0:04:35.540 --> 0:04:38.500 You'd have to be spending your time in more valuable areas, 0:04:38.500 --> 0:04:42.140 solving more complex problems with greater skill set in order 0:04:42.140 --> 0:04:45.620 to earn ten times more money. So it becomes very 0:04:45.620 --> 0:04:48.300 logical from there. What do I not know that somebody 0:04:48.300 --> 0:04:51.940 who's making $50,000 a year does know that I need 0:04:51.940 --> 0:04:55.220 to learn and be able to execute flawlessly at. I 0:04:55.220 --> 0:04:57.839 know it's hard enough to confront that you're broke. But 0:04:57.839 --> 0:04:59.840 while we're confronting that we're broke, we might as well 0:04:59.839 --> 0:05:03.520 just confront the missing skills, the missing education, and the 0:05:03.520 --> 0:05:06.960 incorrectly spent time that is just out of alignment with 0:05:06.960 --> 0:05:10.320 your goals. When I was making $55,000 a year at 0:05:10.320 --> 0:05:13.600 a job that I hated, I will never forget when 0:05:13.600 --> 0:05:16.440 one of my team members who was interning in the 0:05:16.440 --> 0:05:19.920 accounting department let me know that one of the C-suite 0:05:19.920 --> 0:05:24.280 executives made $1 million a year. And I thought to myself, 0:05:24.440 --> 0:05:27.479 what is he doing? And what does he know that 0:05:27.480 --> 0:05:31.640 I don't? Because when I talk to this individual, he's 0:05:31.640 --> 0:05:34.279 not that much smarter than me. He is certainly not 0:05:34.279 --> 0:05:37.640 a harder worker than I am, and he's only a 0:05:37.680 --> 0:05:41.400 handful of years older than me. So what am I missing? 0:05:41.400 --> 0:05:44.880 Because I want to be making $1 million a year, 0:05:45.040 --> 0:05:48.480 not making $55,000 a year. And as soon as I 0:05:48.520 --> 0:05:51.760 found out this number, I just started to watch this man, 0:05:51.760 --> 0:05:54.839 how he communicated, how he showed up to meetings, the 0:05:54.839 --> 0:05:57.820 way that he presented himself the projects that he was 0:05:57.820 --> 0:06:01.460 working on, and I recognized the way that he engaged 0:06:01.460 --> 0:06:04.580 was entirely different than the way I engaged. He engaged 0:06:04.580 --> 0:06:07.460 in a way that took full ownership and responsibility. I'll 0:06:07.460 --> 0:06:10.380 never forget watching him in a meeting where he walked in. 0:06:10.420 --> 0:06:12.780 He had no context to what we were talking about. 0:06:12.779 --> 0:06:15.580 So I thought, and within 2 or 3 minutes, he 0:06:15.580 --> 0:06:19.099 was entirely shifting the direction of the meeting to go 0:06:19.140 --> 0:06:21.620 in alignment to the vision that he had. And it 0:06:21.620 --> 0:06:23.820 was wild because he technically didn't even know what we 0:06:23.860 --> 0:06:27.220 were talking about. But he did because he had full 0:06:27.220 --> 0:06:30.700 ownership and full responsibility of driving that initiative forward. So 0:06:30.700 --> 0:06:32.740 when you find that you're not getting paid, what you 0:06:32.740 --> 0:06:35.460 think you should make fastest hack is to get in 0:06:35.460 --> 0:06:38.220 proximity to somebody who is making that amount of money 0:06:38.220 --> 0:06:41.420 and watch and compare how they show up versus how 0:06:41.420 --> 0:06:44.180 you show up. Stop treating your paycheck like a prize. 0:06:44.420 --> 0:06:48.540 It is your tool. Your income is your tool for 0:06:48.540 --> 0:06:50.980 you to be able to have access to opportunities in 0:06:50.980 --> 0:06:53.460 the future. And if you think of it like a prize, 0:06:53.460 --> 0:06:55.690 you're going to think that you won something. you have 0:06:55.690 --> 0:06:59.210 something to go celebrate about. There's no celebration in your paycheck. 0:06:59.250 --> 0:07:02.450 You use your paycheck to fuel where you are trying 0:07:02.450 --> 0:07:04.609 to go. It is the greatest tool that you have 0:07:04.610 --> 0:07:09.049 in securing your financial future. Why? It gives you access. 0:07:09.050 --> 0:07:10.929 You do not use money as if it is burning 0:07:10.930 --> 0:07:13.690 a hole in your pocket, just ready to be spent 0:07:13.690 --> 0:07:15.250 as soon as you earn it. You see, I've had 0:07:15.250 --> 0:07:17.730 this mindset from a very young age. At first, when 0:07:17.730 --> 0:07:20.370 I dropped out of college and had $3,500 in my 0:07:20.370 --> 0:07:22.770 bank account and thought I was rolling in dough, I 0:07:22.770 --> 0:07:25.530 all of a sudden realized how expensive the real world is. 0:07:25.570 --> 0:07:27.730 And that realization hit me about a month after I 0:07:27.770 --> 0:07:31.850 left school. How much bills were utilities were my car payment, 0:07:31.850 --> 0:07:34.330 my insurance, and all of a sudden I had a 0:07:34.330 --> 0:07:37.450 rude awakening that I was broke. And I kept this 0:07:37.450 --> 0:07:40.970 broke mindset for a decade. When it came to stocking 0:07:40.970 --> 0:07:44.410 up on toilet paper, I would buy one roll of 0:07:44.410 --> 0:07:48.770 toilet paper, one box of Kleenex, one thing of shampoo 0:07:48.810 --> 0:07:50.690 and conditioner, and it wasn't the nice stuff that I 0:07:50.690 --> 0:07:54.050 used today. Why? Because I needed to conserve my money. 0:07:54.050 --> 0:07:57.270 Because I recognized that it was the tool for my future. 0:07:57.350 --> 0:07:59.310 It was not something that I just wanted to blow 0:07:59.310 --> 0:08:03.070 and have instant satisfaction around today. Every dollar mattered, and 0:08:03.070 --> 0:08:05.310 I did have quite a bit of anxiety about my 0:08:05.310 --> 0:08:09.270 ability to stack up cash. Your ability to get this 0:08:09.270 --> 0:08:12.310 discipline in, especially when you're young, sets you up for 0:08:12.310 --> 0:08:16.630 success in the future because you can trust yourself with money. 0:08:16.630 --> 0:08:19.710 If you can't trust yourself with money, you will never 0:08:19.710 --> 0:08:22.430 have lots of money because people who have lots of 0:08:22.430 --> 0:08:25.630 money know how to use money. If you're the type 0:08:25.630 --> 0:08:27.950 of person that every time you get it, it goes 0:08:27.950 --> 0:08:29.990 out the door and you spend it, you do not 0:08:29.990 --> 0:08:33.550 have the self-control for your own impulses, for the world 0:08:33.550 --> 0:08:36.309 to trust you with giving you their money. Why? You're 0:08:36.309 --> 0:08:38.150 just going to go spend it. You're going to waste it. 0:08:38.150 --> 0:08:40.670 You're going to blow it. First is the person who 0:08:40.670 --> 0:08:43.870 has discipline and has enough of a long term perspective 0:08:43.870 --> 0:08:46.550 to be able to have money so that they can 0:08:46.550 --> 0:08:50.150 use it in moments when opportunities present themselves. This is 0:08:50.150 --> 0:08:54.819 probably TMI, but I still have this conservation mindset. Now, 0:08:54.860 --> 0:08:57.140 do I have enough money today to afford as many 0:08:57.140 --> 0:09:01.260 razors as possible? Yes. But in my mind, growing up, 0:09:01.260 --> 0:09:04.420 razors were expensive. And so you didn't want to replace 0:09:04.420 --> 0:09:08.620 razors very frequently. I would go six months without replacing 0:09:08.620 --> 0:09:11.940 my razor, and it would give me razor burn and 0:09:11.940 --> 0:09:15.020 all the cuts, because the blade was dull and I 0:09:15.020 --> 0:09:17.420 didn't want to spend more money because I thought razor 0:09:17.420 --> 0:09:20.020 blade heads were really expensive. And it wasn't until my 0:09:20.020 --> 0:09:22.740 husband finally said, Natalie, why do you use the razor 0:09:22.780 --> 0:09:25.100 over and over and over again? When I realized that 0:09:25.100 --> 0:09:27.540 he actually gets rid of his razor every single time 0:09:27.540 --> 0:09:30.500 he uses it, compare contrast. And I realized that I 0:09:30.500 --> 0:09:33.939 had this scarcity mindset. This scarcity mindset gives me a 0:09:33.940 --> 0:09:36.580 lot of confidence in myself. The mindset is to use 0:09:36.580 --> 0:09:40.260 your paychecks to get ready for the next opportunity. You're 0:09:40.260 --> 0:09:42.340 never going to be ready if you just blow through 0:09:42.380 --> 0:09:44.900 your money, and it's important to try and keep your 0:09:44.900 --> 0:09:50.220 living expenses as low as possible. Not spending frivolously, not 0:09:50.220 --> 0:09:53.839 taking on large payments. You think of your paycheck as 0:09:53.840 --> 0:09:57.160 a launch pad for future growth and investments? Pay the 0:09:57.160 --> 0:10:00.360 price today so you can pay any price tomorrow. Is 0:10:00.360 --> 0:10:04.360 so grounded in this idea of financial discipline. What is 0:10:04.360 --> 0:10:07.040 required of you today? In order to create the future 0:10:07.040 --> 0:10:09.839 version of you, you are going to have to make sacrifices. 0:10:09.880 --> 0:10:12.720 There's not a single successful person on this planet who 0:10:12.720 --> 0:10:17.000 has a significant amount of financial wherewithal that created it themselves, 0:10:17.000 --> 0:10:20.440 didn't make sacrifices. So what sacrifices are you willing to 0:10:20.440 --> 0:10:23.040 make today? And if you are the type of person 0:10:23.040 --> 0:10:25.800 who is serious about their goals, what's so cool is 0:10:25.840 --> 0:10:28.319 it's pretty easy when you put it in this context 0:10:28.360 --> 0:10:31.080 to say no to the Uber black or the lip gloss, 0:10:31.080 --> 0:10:34.320 or to the fancy dinners, because if that's all that's 0:10:34.320 --> 0:10:38.040 required to have discipline and to create confidence in yourself 0:10:38.040 --> 0:10:40.720 that you are building into the future that you want, 0:10:40.760 --> 0:10:44.439 it's not really that hard. So pay the price. What 0:10:44.440 --> 0:10:46.640 is the price that you have to pay today if 0:10:46.640 --> 0:10:49.040 you open your bank account up right now? I have 0:10:49.040 --> 0:10:51.840 a feeling that you could find a handful of areas 0:10:51.900 --> 0:10:54.300 where you need to pay the price and have a 0:10:54.300 --> 0:10:57.380 season of scarcity. Are you willing to go through six 0:10:57.380 --> 0:11:01.140 months of scarcity in order to build the habits and 0:11:01.140 --> 0:11:04.900 the discipline of somebody who, you know, in the future, 0:11:04.900 --> 0:11:08.100 has full control over where they spend their money? How 0:11:08.100 --> 0:11:10.140 much is in their bank account and their ability to 0:11:10.179 --> 0:11:13.340 create on opportunities. The answer, when you put it so simply, 0:11:13.340 --> 0:11:16.140 is of course I am. That's an easy layup question. 0:11:16.140 --> 0:11:18.900 So then start acting like that today as you open 0:11:18.900 --> 0:11:20.740 up your bank account. What areas do you need to 0:11:20.740 --> 0:11:23.500 have the sacrifice? So imagine that you're writing a book 0:11:23.540 --> 0:11:27.020 about yourself. Future. You is able to talk about this 0:11:27.020 --> 0:11:29.820 time where you went through scarcity, this time that you 0:11:29.860 --> 0:11:33.819 created sacrifice, and you can point people to how necessary 0:11:33.900 --> 0:11:36.939 it was for you to cut out certain luxuries. And 0:11:36.940 --> 0:11:39.580 it kind of romanticizes the whole thing. Now, does it 0:11:39.580 --> 0:11:42.180 feel romantic while it's happening? Of course not. But your 0:11:42.179 --> 0:11:44.980 ability to tell the story and figure out ways to 0:11:45.020 --> 0:11:48.820 sell yourself on why the sacrifice matters is important. So 0:11:49.140 --> 0:11:51.890 mock up whatever the story is. Imagine you're in front 0:11:51.890 --> 0:11:54.370 of hundreds of thousands of people in the future, and 0:11:54.370 --> 0:11:57.170 you talk about the time where you had to sleep 0:11:57.170 --> 0:12:00.170 on the floor, where you couldn't buy people Christmas presents, 0:12:00.170 --> 0:12:03.130 where you worked 20 hour days. So what kind of 0:12:03.170 --> 0:12:05.530 story do you want to tell? You see, sacrifice isn't 0:12:05.530 --> 0:12:09.290 always about deprivation and starving yourself of great things. It 0:12:09.290 --> 0:12:12.490 is about alignment with the future that you're building. So 0:12:12.490 --> 0:12:17.490 choosing discipline over indulgence is what builds the character, the confidence, 0:12:17.490 --> 0:12:20.170 and the cash required to level up your life. Lastly, 0:12:20.170 --> 0:12:25.089 number five financial dependence kills trust and your power. No 0:12:25.090 --> 0:12:28.890 one is coming to save you, including your future partner. Now, 0:12:28.890 --> 0:12:31.329 this is for all my ladies out there who think 0:12:31.330 --> 0:12:33.650 that they don't have to learn these lessons because somebody 0:12:33.650 --> 0:12:35.570 is just going to come into their life and they 0:12:35.610 --> 0:12:38.489 are going to take on the financial responsibility in the relationship. 0:12:38.530 --> 0:12:42.610 Even if you find somebody who is more financially well 0:12:42.650 --> 0:12:45.450 off than you are. You do not want to ever 0:12:45.490 --> 0:12:47.449 be in a position where you feel like you are 0:12:47.450 --> 0:12:52.030 dependent upon somebody. And Furthermore, there's nothing better in a 0:12:52.030 --> 0:12:55.910 relationship than having the trust between two people that both 0:12:55.910 --> 0:12:59.590 parties can be trustworthy with money. What I mean by 0:12:59.590 --> 0:13:02.270 this is think about your future spouse here for a second. 0:13:02.309 --> 0:13:05.110 Do you think that they would be excited to list 0:13:05.110 --> 0:13:07.829 out this quality of yours? That you always buy things? 0:13:07.830 --> 0:13:10.670 Whenever you have an instant urge? You have no ability 0:13:10.670 --> 0:13:14.150 to be disciplined and you spend frivolously. No partner is 0:13:14.150 --> 0:13:16.589 jumping up and down to be with that person unless 0:13:16.590 --> 0:13:18.390 they are trying to take control of you. If you're 0:13:18.390 --> 0:13:20.590 okay with somebody controlling you in this way, it's probably 0:13:20.590 --> 0:13:22.709 a different video. But if you want to have a 0:13:22.710 --> 0:13:25.830 lot of confidence in yourself in your future relationship, you 0:13:25.830 --> 0:13:29.310 have to take responsibility. Your finances today because no one 0:13:29.309 --> 0:13:31.230 is coming to save you. Even if they do have 0:13:31.230 --> 0:13:34.790 more resources than you, you have to create the position 0:13:34.790 --> 0:13:38.230 that you are able to take financial control at any 0:13:38.230 --> 0:13:41.790 point in time, which would mean learning this discipline today. 0:13:41.830 --> 0:13:45.910 Knowing your finances and having financial discipline isn't just smart, 0:13:45.950 --> 0:13:49.819 it's super sexy. It builds trust. It builds influence, and 0:13:49.820 --> 0:13:52.460 it builds power in your relationships. If you want to 0:13:52.460 --> 0:13:54.620 be with somebody that has a high level of trust 0:13:54.620 --> 0:13:58.620 in you, you have to be a person worthy of trust. 0:13:58.620 --> 0:14:02.020 So do your spending habits reflect that you are trustworthy? 0:14:02.020 --> 0:14:04.420 If they don't, how do you fix that? So the 0:14:04.420 --> 0:14:06.260 person that you do end up spending the rest of 0:14:06.260 --> 0:14:09.500 your life with actually trusts you. So treat your paycheck 0:14:09.500 --> 0:14:12.980 and your finances with the value that you give yourself. 0:14:12.980 --> 0:14:16.940 If you enjoyed this podcast, you are going to definitely 0:14:16.940 --> 0:14:19.820 not want to miss out on my new newsletter. It 0:14:19.820 --> 0:14:22.460 just dropped. I just started creating this content and I 0:14:22.500 --> 0:14:25.060 am obsessed. Every single week in your inbox I am 0:14:25.060 --> 0:14:28.580 going to send you business and which is exactly what 0:14:28.580 --> 0:14:31.420 it sounds like. How do you fit business and all 0:14:31.420 --> 0:14:33.580 the other things in your life so that you are 0:14:33.580 --> 0:14:38.420 up to speed on fashion, beauty, wellness, all things that 0:14:38.420 --> 0:14:41.300 really matter. If you want to subscribe and get this 0:14:41.300 --> 0:14:44.820 special gift and weekly treat in your inbox, go to 0:14:44.860 --> 0:14:45.540 Carmel Ventures.