Feeling like the more you spend, the further you are from your dream life? You're not alone. In this eye-opening episode of the Building Your Money Machine Show, we tackle why having money is far more powerful than spending it and how you can make a few simple shifts to achieve financial freedom and the life you truly want.
We delve into the stress of living paycheck to paycheck, the regret of impulse buys, and why financial freedom might seem out of reach. I share actionable insights and steps to transform your financial mindset, break the cycle of debt, and harness the power of having cash for security and opportunities. From understanding the dopamine-driven spending addiction to practical steps like automating savings and investing wisely, this episode is packed with advice to help you prioritize long-term fulfillment over momentary pleasure.
Tune in and discover how to turn your finances around and start living a life of security, freedom, and joy that only having money can provide.
IN TODAY’S EPISODE, I DISCUSS:
- The emotional and psychological traps of spending money
- Why having money provides true security and freedom
- Practical steps to shift your mindset and control your spending habits
- The power of automating your savings and investments
- Why discipline, not deprivation, leads to a fulfilled life
ORDER MY NEW USA TODAY BESTSELLING BOOK:
Building Your Money Machine: How to Get Your Money to Work Harder For You Than You Did For It!
Got to: YourMoneyMachineBook.com
The key to building the life you desire and deserve is to build your Money Machine—a powerful system designed to generate income that’s no longer tied to your work or efforts. This step-by-step guide goes beyond the general idea of personal finance and wealth creation and reveals the holistic approach to transforming your relationship with money to allow you to enjoy financial freedom and peace of mind.
Part money philosophy, part money mindset, part strategy, and part tactical action, these powerful frameworks will show you how to build your money machine.
TAKE THE FINANCIAL FREEDOM QUIZ:
Take this free quiz to see where you are on the path to financial freedom and what your next steps are to move you to a new financial destiny at http://www.YourFinancialFreedomQuiz.com
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★ WHO IS MEL ABRAHAM ★
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I’m a seasoned CPA turned entrepreneurial innovator and money mentor. I am the mind behind the USA Today bestseller, Building Your Money Machine: How To Get Your Money To Work Harder For You Than You Did For It!. As the founder of The Affluence Blueprint™, The Legacy Factor™, and Thoughtpreneur™ Academy, Mel has dedicated his career to empowering individuals and entrepreneurs to transform their financial destinies and craft lives of choice, not chance.
The inception of Mel’s groundbreaking principles was profoundly personal as they were born out being a single full-time dad and not wanting to compromise that relationship in the name of success. The power of these principles became even more evident when he was faced with a life-threatening health diagnosis which forced him to confront his mortality and the fragility of life. This pivotal moment, coupled with the economic turmoil of the pandemic, galvanized him to distill his financial wisdom into strategies accessible to all. His books and teachings offer not just hope but real tools for building lasting wealth and impact.
Now it’s your turn
Meet Mel at http://melabraham.com/
Cheers,
Mel
==== Time Stamps ====
00:00 Why money feels better to have than to spend.
01:08 Getting out of the paycheck-to-paycheck cycle.
02:16 The spending trap and its long-term costs.
02:45 The dopamine effect of spending.
04:01 The cycle of debt and minimum payments.
04:47 Emotional benefits of having money.
06:23 Financial stress reduction through saving.
09:25 Money as a tool to paint your dream life.
13:01 Changing behaviors to change your financial future.
15:25 Investing wisely and consistently.
19:26 Having money versus hoarding money.
20:41 Steps to build long-term financial joy.