What do you think has blocked you from having a wealthy money mindset? Maybe your past experiences taught you that you couldn’t be rich and kind at the same time. You may even have a negative money mindset, which you’re not even aware of, that is keeping you from being abundant.
In this episode, New York Times best-selling author, T. Harv Eker, shares a few tips how how we can achieve a shift to the millionaire money mindset.
Table of Contents
Key Takeaways
The chasm we have between success, spirituality, and finances comes from our conditioning or our upbringing.
There’s a lot of negativity amongst the religious communities around money. The Bible did not say that “Money is the root of all evil.” It says “The love of money is the root of all evil.”
Having a Millionaire Mindset:
- Be aware of your money mindset.
- Understand where it came from.
- Choose the money mindset you want to have.
You have the right to choose the way you think. You have the right to choose your core beliefs.
Consciousness is living and making choices from the present moment versus based on conditioning.
Have the Right Beliefs About Money
Choose the money mindset and ways of thinking of rich and successful people. Admire and model them.
We have been taught that rich people are bad.
We need to recognize that these people have done something to gain success and a rich financial life, just like you would have done.
Being right or wrong has nothing to do with money. It has to do with the person.
If you are a good person, money is going to add to that. It’s not going to make you a bad person.
Your thoughts create and control your attitude and feelings, which create and control your future attitude, actions, and results.
A millionaire money mindset is somebody who thinks like a rich person.
What Is The Money Mindset?
Luis Congdon
Today’s guest is the creator of Secrets of the Millionaire Mind, New York Times best-selling author T. Harv Eker. It’s an honor to have him on the show today. I’ve been to his seminars. I’ve run through his courses and programs. I love his work, and it’s such an honor to have him here because he’s going to teach you how to have a positive money mindset.
I’m excited because we have T. Harv Eker here today and as you already know, I’m a big fan of his work. It’s something that’s made a big difference in my life. When I was broke, really down and out, I scrounged the last of my money together to go to his event, and it was life-changing. I loved his event. So, without further ado, Harv, are you ready?
T. Harv Eker
I am.
Conditioning Your Positive Money Mindset
Luis Congdon
One of the things I want to ask you today is a big one for me. Especially as a guy whose former life is trying to seek monkhood, working in the nonprofit world, and very interested in spirituality.
However, there is a side of me that was entirely cut off by past financial mistakes. That’s why I’m an entrepreneur now just developing the self. There is a side that was cut off for so long, and it was that side of me that was okay with the control of finances and the control of financial success.
It was all right for me to go and spend money for the past six months. And go into the community and round up six months’ worth of rent for a homeless woman. That was one of the biggest glories that I’ve had to achieve in my world but it was not okay for me to have six months’ worth of money saved up. And it was not okay for me to have financial success, and had to do so much work around that. Why do you think that there’s this kind of chasm or this gap between success, spirituality, and finances? Why is that?
Conditioning Affects Our Money Mindset
T. Harv Eker
Like many other things, it comes from conditioning our money mindset. It comes mostly from our upbringing when we are at a young age. When we come out of the womb, we don’t know anything about financial or relationship goals or saving or anything like that. We’re not conditioned around our financial goals in life. But as we grow up with our family, friends, uncles, aunts, grandparents, etcetera, we learn how to do everything.
We learn how to walk. We learn how to talk. We learn how to make money, save money, and how to think about saving money.
Spirituality And Bad Money Mindset
T. Harv Eker
There’s a lot of negativity amongst the religious communities around money and having a negative money mindset. It starts with old sayings like, “Money is the root of all evil,” and things like that. The religious communities especially the churches, frown on money. They frown on being wealthy. You should have love for God and not for money. What I would say is I would agree with that. I’m a spiritual myself but where’s the conflict here? The idea is that you can have both a money mindset and spirituality.
I don’t mean to be rude to anyone or any organization. However, it’s fascinating that certain organizations will tell you that money is bad and then pass around the hat. It’s bad you should give it to us, and happened to be the largest real estate holder on planet Earth.
The old idea that “Money is the root of all evil,” is not what the Bible says. It says “The love of spending money is the root of all evil,” and I would agree with that. If you love to spend money more than everything else, that’s the problem.
Spirituality and Having a Positive Money Mindset
T. Harv Eker
What I teach and what I like to expose to my students is that you can be kind, generous, loving, balanced, spiritual, and freaking rich. Why not?
You were talking earlier about helping other people. When you’re broke, who do you help? You can go around and give your time, and I believe that’s wonderful. However, time doesn’t just cut it when there are hurricanes, disasters, and floods. All kinds of natural disasters where they need blankets, medicine, transportation, and all these things. Whether we like it or not, they all cost money.
How To Develop A Money Mindset
T. Harv Eker
I always think about when I’m earning and spending a lot of money, and I’m happy to say that I do. There’s a percentage of income that goes to me, what I spend and need to spend, and what helps me. But there’s also a contribution factor for people, myself, and my students that go to help other people.
When you’ve got a lot of money, you can help a lot of people.
Having the Right Money Mindset
Kamala Chambers
So glad that we’re here talking about this topic. I really would love to hear from you since we have a lot of entrepreneurs here. People know these things. But it’s the struggle within, the negative self-talk that may come with having money and creating wealth.
How do we start to move and shift to the millionaire mindset and have a better financial situation?
T. Harv Eker
That’s a great question because you hit the nail on the head. As I said earlier, we learn about a positive money mindset here. And the question is, from whom do we learn that positive money mindset? You have to take a look at the sources of your information. Remember, on earth, we’re born as an empty vessel, an empty cup. Then we proceed to get filled up with information, and then we live based on that information.
Changing Your Negative Money Mindset
T. Harv Eker
So the question is who gave you that information? If you can look at that and become aware of where you got the beliefs that you have about money and the issues around it:
- Be aware of it.
- Understand where it came from.
Once you know that that information came outside of you like from another person or group, now, disassociate from that. You say, “That’s them. That’s not me, and from here on in, I’m going to choose my beliefs based on what is right for me in my life.
I am going to choose my financial future based on who I am, where I want to be, and where I want to go.
Choosing Your Financial Future
T. Harv Eker
You have the right to choose the way you think. You have the right to choose to achieve your goals and beliefs. You need to act on past experiences, your past financial mistakes, and old beliefs, and that is called, “Consciousness.” Consciousness is living and making choices from the present moment versus based on conditioning and programming from the past, which runs you instead of you running it.
Luis Congdon
As I’m listening to T. Harv’s talk, what’s powerful for me is it reminds me of the process that I had to go through. I know that you guys are incredibly loving people, have tons of goals and aspirations, and that we’re all here together.
You continually come back to the show. Because there’s this balance that we want to give you. A balance between being an entrepreneur, being somebody who’s out in the world doing things, and being someone who has a spiritual non-profit philanthropist family person. All of that other parts of life, you have all of that combined.
From Scarcity To Abundant Money Mindset
Luis Congdon
As he’s talking, I’m thinking about finances and how I didn’t have that part of me developed. I was afraid to talk about money. It was something that because of that fear, I was like taking a hose and putting a kink in it. When we think about the expression “life is like a beautiful garden”, this is the garden of how I give to people, and how I’m involved in my community.
However, when you look at the garden and what’s my home and financial life like, my ability to contribute and have the things that make me happy, what allows me to feed myself and the people close to me I didn’t have that. So, going through debt is that developmental piece where you’re starting to ask yourself, “Well, is it okay with me that I’m broke?” Or, “Is it okay if I make some extra money?”
How Do I Get Rid of Money Scarcity Mindset?
Luis Congdon
You have the story that I love where you’re watching a television show, and there’s this guy who’s a billionaire, and you’re having a response to it like, “Whoa.” They’re talking on the television about how much more money this guy made and you started judging him like “Oh, whoa. Was he making all that money? It’s ludicrous should someone have all that money.”
Then, you caught yourself, and you’re like, “Wait, I’m having judgments about his finances and spending, and him spending money. That somehow cut me off.” Then you started going “You know what? I’m going to congratulate him. I’m going to say “Oh, way to go man.” And you jumped up and started celebrating. Why is that important?
Understanding The Money Mindset
T. Harv Eker
So the question in a lot of your clients and listener’s minds is what do I do about this?
As I said, we start with awareness. Then, in understanding this association, you choose something to believe. What beliefs do you choose around your own financial decisions and your financial life and decisions in life? What ways of thinking do you choose? You choose the way that rich and successful people, the ideas and thoughts that they have. When I say rich and successful people, I am not talking about bad people.
A lot of people have the connotation, or we’re taught or still being taught, and condition that rich people are bad. Somehow, in shape or form, rich people are bad. First, if you have limiting beliefs that rich people are bad and you want to be a good person, just slit your throat. You will never be rich and have an abundant money mindset. If you believe that rich people are bad and you want to be a good person, you can never be rich or even be highly successful with money.
Having an Abundance Mindset
T. Harv Eker
What do you need to do to have an abundant money mindset? You need to recognize the reality that these people are the same as you and everybody else. They have done something to gain success and wealth just like you would have done.
The idea is to admire and model other rich and successful people just as if you wanted to be in pro tennis. You would probably want to admire and model professional tennis players and do what they do. You don’t want to just make the whole thing up on your own if you can help it.
Shifting The Bad Money Mindset
Luis Congdon
T, can I jump in real quick? You’re saying something that’s special to me, and I want to extract it a little bit from my own personal finance experience. And how I utilize this teaching from your work and your excellent book Secret of the Millionaire Mind.
One of the things that you said that I loved just now is you need to start looking at rich people differently. This will help you shift and change your money mindset. Because if you think that they’re bad. Then you’re going to cut yourself off from being a good person or a bad person if it’s contrary and not congruent with your belief system. You will find a way to sabotage it.
I just wanted to share how my money mindset was developed while growing up. My dad growing up would say a lot of things about rich people that were somewhat negative. “Oh that guy, he’s a jerk. He just owns his big yacht, and he’s super wealthy.” He’d say a lot of negative self-talk. I love my dad. One of the greatest people on the planet, but this was one little hang-up that he had, and I remember going “I have to change this.”
Changing Your Perspective About Money
Luis Congdon
One of the things that I did Harv is I started looking for examples of things that rich people were doing. They were entirely congruent with things I thought were great. I began looking at non-profits, celebrities, famous people, philanthropists who were donating to celebrities, and money that was being given out.
I was going, “Whoa, look at that building. Somebody that’s super rich pretty much put all the money up for that.” “Whoa, look at that homeless person. It’s because of this rich person that that homeless person doesn’t have to sleep there tonight because these people are funding that non-profit.” I just wanted to say that because that is such a great exercise on positive affirmations that you just gave.
Understanding The Huna Philosophy And Transforming Your Beliefs About Money
T. Harv Eker
Yeah. Let me give you more positive affirmations to add to it. As you said, most people resent rich people. I’m sure a lot of you have heard about Huna, the Hawaiian philosophy. There’s a Huna philosophy, a phrase that changed my perspective. Everyone, when you have a chance, I want you to write this down. I want you to read it at least every day for a month. Just regularly read it, and that’s what I did. It made a big difference for hundreds of thousands of students and me.
Here’s the Huna philosophy. It says, “Bless that which you want.”
If you see somebody, who’s got a beautiful car, instead of going, “Oh, what a jerk! That guy parks right in front.” First of all, he didn’t park it in front. The valet did because if he did, it would look lousy. You bless that car, and you bless the person who owns that car. If you see somebody with a beautiful home, you bless that home. You bless the person who owns that home. You see someone with a beautiful family. You bless that person with the family. You bless the family.
Anything that you negate, you can never have.
Attracting a Better Money Mindset
T. Harv Eker
I want to make one more point about money myths because this is crucial to me. This is the way I was myself. And so, this completely changed my life. In my seminars, I say, “Let’s get to some reality here. Raise your hand if you believe that it’s true that at least, some rich people are bad.” Everybody raises their hand. Okay, I say “Let me ask another question. How many also believe that some middle-class people are bad?” Everybody raises their hand. “Okay, how many think some poor people are bad?” Everybody raises their hand.
Some rich people are bad. Some middle-class people are bad. Some poor people are bad. What does this have to do with the personal financial situation though? It has nothing to do with money. It has to do with the person. You just need to have the right money and the right mindset too. Money will allow you to be more of what you already are.
If you are a greedy jerk, money will allow you to become more of a greedy jerk. If you are a good, kind, and generous person, money will allow you to pay yourself to have more generosity, goodness, and kindness. That’s all it’s going to do. Now, the big question is not about them. It’s about you.
The Process Of Creating a Money Mindset
T. Harv Eker
Let me ask a simple question. If you already got millions of dollars, do you think you would now turn into an a**hole, a jerk, a bad person? Do you think that would happen? It’s just going to fall in your head. It’s going to be “Oh my God! I’m a multi-millionaire. Now, I’m a bad person.” That’s ridiculous. You’re going to be who you are. If you are a good person, and you are, then more money is just going to add to that. It’s not going to make you a bad person. That’s all garbage. That makes no sense.
A Millionaire’s Mindset About Money
Kamala Chambers
I love what you’re saying here because it’s necessary to shift to that millionaire mindset about money. Can you just give us a little more context to think about money and what is a millionaire’s mind?
T. Harv Eker
Well, it’s very simple. A millionaire’s mind is simply the way that millionaires and rich people think versus the way broke people think. Again, I urge you to write this down. It’s called “The process of creation.” Your thoughts create your feelings, which create your actions, which then create your results.
Get Rid of Limiting Beliefs
T. Harv Eker
So your results originate where? They come from your thoughts. Here’s a good question. How do you get your thoughts? Again, as I said earlier, you learn how to write and think the way you do by other people, other organizations, the media, etcetera. You’re living their life.
I’m going to say it again. You’re living their life. Their information was ingrained into you and turned into your beliefs, your feelings, your actions from there, and your results. If you want to get ownership of your life, you need to take ownership of your beliefs and your thoughts that make sense today.
The Secrets Of Having An Abundant Money Mindset
T. Harv Eker
An abundance money mindset and a millionaire mind is somebody who thinks rich, who thinks like a rich person thinks. When they read the book Secrets of the Millionaire Mind, there are 17 ways that rich people think very differently than other people about their financial decisions, personal finance, and their personal and their financial situation and life situation too.
Luis Congdon
That is powerful. What you just said is there’s a different money mindset. You were saying something, and it was powerful, and it can be wrapped up well. What you just now said is that there’s a difference in the money mindset now. The mindset is different. I think of our minds as a projector. When we’re watching something out on the screen, a lot of the results in our lives are because of this projector.
What you see on screen is being projected by something else, and that’s your mind. And the reality that you have is just a projection of what you’ve been thinking and how you’ve been feeling. I know that you have a gift. This is something very special to me guys. T. Harv has come on the show, and he’s got a special gift for all of you. And what’s exciting to me about that is if you want to change your financial wellness, he has the tools and the resources.
I’m going to let him talk a little bit about that gift and I want you guys to grab that. You can come over to the website. You can grab it. But, T, can you tell them about the gift?
T. Harv Eker
Absolutely.
Developing Money Mindset And Creating Abundance From Within
What to Think About Money
T. Harv Eker
I think this is one of the most important little books that I’ve ever written. It’s called Speed Wealth: How To Stop Earning A Living And How To Start Creating Wealth. The essence of it is there are eight very specific principles and steps that are necessary to create a dynamic business that produces quickly. Therefore, it’s called Speed Wealth. But, only one little tiny part of it has anything to do with the mind.
The idea is that no matter what we’ve talked about now if you want to do that, you can pick up my book Secrets of the Millionaire Mind. That talks about that but with Speed Wealth, you can have all the great mindset you want, but the matter is what the heck do you do to save money, in your personal finance or business or personal finance? What the heck do you do with money?
Healthy Money Mindset to Achieve Financial Security
T. Harv Eker
It’s all about having the right attitude, financial goals, and money mindset. I had a $2,000 credit card debt, and I went from a $2,000 credit card debt to a millionaire in two and a half years using these exact financial goals and tips. I will caution you that these steps need to be followed all eight and all eight in order. If you do that, my assumption is many of you can go from wherever you are to becoming rich in less than three years. That’s why it’s called Speed Wealth. That’s what I did.
I outlined exactly what I did and how I did it, and now, I can tell with confidence that you I have tens of thousands of students who have done the same thing and got the same positive effect. I would highly recommend that you get your hands on this and read it carefully. It helps you strengthen your confidence and positive money mindset and confidence. Keep it in your bathroom or wherever you are staying long or can focus quite a bit and follow the eight steps religiously to always achieve your financial goals and more.
Stop Struggling With Your Current Financial Situation
T. Harv Eker
I hate when people, especially spiritually-based people, feel anxious and struggle to save money. There’s no reason for it. You are missing some critical knowledge that I wish I had for my financial plan during the 15 years I was completely broke. Once I understood the healthy money mindset, I put it to the test and got rich very quickly. Continue to achieve your financial goals and improve your current financial situation based on these steps. I want to give everyone a gift of this. It’s a copy of Speed Wealth today.
Get Rid of the Bad Money Mindset — Change Your Perspective
T. Harv Eker
There’s no reason you cannot have both. The negative money mentality is a scarcity and fear-based mentality that doesn’t work for you. It sure doesn’t work for the people that you’d like to help in the world. Let that mentality go. You can be rich and spiritual, kind, and generous. You can have people that are good at the piano. That’s okay. They’re good at tennis. That’s okay. They’re successful in business. That’s okay.
Express Gratitude And Set Your Financial Goals
T. Harv Eker
Why can’t you be good at a and change your money mindset? Why is that a problem? You’re excellent in everything, but you’re bad at them. What reason there is? And it’s right between your ears. Once we change that, we add the Speed Wealth knowledge to exactly what to do and how to do it in your business and your financial life. Wealth is not hard because abundance and money are a result of what you do and this is exactly what to do.
Related Reading: 5 Ways An Online Marriage Course Mends Relationships
Money Mindset – Critical Insights
Kamala Chambers
Before we close out today, what is the last thought about the mindset of saving money and spending the money mindset that you want our listeners to walk away with?
How do you make money?
T. Harv Eker
Okay. I’ll give it to you very simply. It’s very simple. You make money. Money is something that’s only transferred by other people. It doesn’t come from the sky, from the universe, from cows, from trees, etc. It originates from the exchange by other people.
Why would anybody give you money?
T. Harv Eker
You’re going to solve their problems for them. Solve the problem for people, and the reward is called money. Don’t think about money. Don’t focus on money. Focus on helping and solving other people. Do it in an intelligent business way, achieve your goals, stay motivated, and the results will surprise even you.
Kamala Chambers
Great. We loved your insights about the first step to developing the money mindset. Everyone, go out and practice these eight steps to have an abundant money mindset. Claim that free offer he’s giving all of you. You can pick that up where he directed you.
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