Wealth Mindset: ”How do I get out of living this paycheck to paycheck cycle?”

Summary

 

The way to break the cycle of living paycheck to paycheck by changing one's mindset. Living paycheck to paycheck is a feeling of insecurity and dissatisfaction with one's financial situation. The key to breaking this cycle is to first appreciate and own what you have and find satisfaction in it. By finding something positive in your job or situation, individuals can open themselves up to opportunities that will bring them more satisfaction and abundance in the future. Once you identify what you love about what you’re doing, it becomes easier to sort through options and find opportunities that will add to the feeling you already own. 

 

Emotional intelligence is the key to filling the void that material possessions cannot fill. By teaching children to be emotionally intelligent, they can learn to become self-sufficient and happy throughout their entire lifetime.  The combination of satisfaction, faith in the future, and intuition is the energy necessary to take the strong action needed to achieve one's goals with joy and ease. 

 

Chapters

 

| **Timestamp** | **Summary** |
| ------------- | ----------- |
| 0:00:01 | Introduction to the episode and sponsor |
| 0:01:20 | Living paycheck to paycheck is a mindset of feeling insecure and unsatisfied |
| 0:02:14 | Breaking the cycle of living paycheck to paycheck by owning and appreciating what you have |
| 0:03:40 | Example of points of frustration that add up to living paycheck to paycheck |
| 0:04:20 | Finding something positive about your job to focus on |
| 0:05:29 | Find satisfaction first before seeking another job opportunity |
| 0:05:57 | Appreciate what you have to find satisfaction and opportunities |
| 0:07:02 | Animals communicate through feelings, humans should too |
| 0:08:05 | Doing what you love leads to success and wealth |
| 0:09:03 | Teaching emotional intelligence to children is more important than material possessions |
| 0:10:14 | Relying on intuition and feelings fine tunes opportunities for success |

Quotes

**B-(0:04:20)**
> "Because it appears that the job is the problem, but really the problem is your mindset."

**B-(0:05:29)**
> "Before you even try to effort your way into another job, first find satisfaction where you are."

**B-(0:07:33)**
> "We speak languages, we can write and read, so we ignore the feeling aspect of how we communicate. But most of communication is feeling. Most of the time when you do something, you don't know why, because a feeling triggers you, so what I'm saying in this example is once you get the feeling of how you want your dream job to feel, then it's easier to sort through all the options because you're just looking for something that feels like that."

**B-(0:08:05)**
> "Once you're doing something you love, the money will come because the level of whatever you need to do from an action standpoint becomes easier and lighter because you're loving every aspect of what you're doing. Then it doesn't feel like work.  Whenever you're in a position where it doesn't feel like work, that's when the money starts really rolling in."

**B-(0:09:03)**
> "Instead of trying to fill their void (kids)  with stuff, let me fill their void with emotional intelligence.  It becomes more important to me to teach them to be emotionally intelligent, because that's what I've learned, provides the stuff."

**B-(0:09:36)**
> "And then your spouse who you're with. The good part about having a spouse is you learn more from each other, just from observation. You don't even have to teach your spouse anything. Just by the nature of how you feel, you begin to rub off on each other, and they will, over time, begin to see what's happening and feel the way you feel. Then all the need to keep up with the Joneses goes away."

 

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Phillip Washington, Jr. is a registered investment adviser.  Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies.  Investments involve risk and, unless otherwise stated, are not guaranteed.  Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.