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Mastering Wealth: The Crucial Mindset Shift You Need Right Now – Part 2 (Ep 68)

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Welcome back to the Balancing Busy Podcast! Today, we’re diving into part two of an incredible conversation about building wealth with guest Dr. Sharita Humphrey. If you missed part one, don’t worry, hit pause right now, go back and listen, and then come right back here. You won’t want to miss any of the golden nuggets we’re about to drop.

This episode will help:

👉Aspiring Wealth-Builders take control of their financial future and embark on a wealth-building journey, regardless of their current income level or background.

👉Anyone who has struggled with a negative money mindset or felt overwhelmed by financial challenges.

👉Women who want to take charge of their financial well-being, regardless of their current financial situation.

(YouTube)

Mindset: The First Step to Building Wealth

Alright, let’s get straight into it. We’ve been talking about the importance of mindset in the journey to building wealth. Now, some of you might be thinking, “Leah, changing my mindset sounds tough.” But guess what? It’s not as hard as managing your money. Why? Because we’re thinking creatures. We run thoughts through our heads all day long. Can I really do this? What if I fail? Sound familiar?

So, where do we start with this mindset shift? First and foremost, we need to start speaking positively about our money journey. If you’ve never been taught about money, it’s not your fault. Many of us weren’t. It’s a “we” problem, not a “me” problem. Start by educating yourself about money. Pick up books, listen to podcasts, and seek knowledge.

Forgiving Yourself and Embracing Change

Now, here’s something crucial: forgive yourself. If you’ve overspent, made money mistakes, or been afraid of money, it’s okay. Understand that money mindset plays a significant role in your wealth journey, and change begins with forgiving yourself for any past missteps. It’s all part of the process.

Remember, building wealth is a journey. It’s like climbing a ladder. You start on the first rung, and with each step, you get closer to your goals. Don’t worry if you don’t have a lot to invest right now. Time is your greatest asset. As you progress, you’ll have more to invest.

When is it time for a financial advisor?

So, do you need a financial advisor on your wealth-building journey? The answer is not a one-size-fits-all, but rather, it depends on where you are in your financial life. If you’re just starting out, there’s no harm in scheduling a consultation with a financial advisor. This initial step can provide you with insights and a roadmap tailored to your unique situation.

The Power of Education and Learning

Education is the new currency when it comes to building wealth. We live in a rapidly changing world with new opportunities and technologies emerging all the time. To stay ahead, you must commit to self-education. This doesn’t have to mean going back to school; it means investing time in learning and growth.

Educate yourself about money, investments, and wealth-building strategies. Some of mine and Sharita’s favorite money books are: “The One Thing” for focus and productivity, “The Millionaire Next Door” for financial insights, and “The Big Leap” for breaking through limitations.

Time Freedom: What You Really Want

Now, let’s talk about a different kind of freedom: time freedom. Building wealth isn’t just about financial freedom; it’s about having the time to enjoy your life. More time allows you to focus on passive income streams and investments that can generate wealth for you.

Imagine having time to pursue your passions, travel, or simply relax with loved ones. When you invest in time freedom, you open up opportunities for financial freedom. But remember, wealth is not built alone; surround yourself with supportive, like-minded individuals who share your goals.

I hope this two-part conversation about building wealth has inspired you to take action. Remember, it’s never too early or too late to start.

Thank you for joining us on the Balancing Busy Podcast. If you found this episode valuable, share it with your friends and family, and don’t forget to leave a review. Your feedback helps us grow and reach more people.

Until next time, keep learning, keep growing, and keep building your path to wealth and time freedom. You’ve got this!

Links You Need:

Connect with our guest, Sharita Humphrey

Favorite Money Books

The Big Leap by Gay Hendricks

Happy Money: The Japanese Art of Making Peace with Your Money by Ken Honda

The One Thing by Gary Keller

The Millionaire Next Door: The Surprising Secrets of America’s Rich by Cotter Smith

Let me know what you thought of this episode by connecting with me on Instagram


Other Episodes You’ll Love:

Demystifying Cryptocurrency ( Ep 61)

Stop Stressing About Money ( Ep 56)

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