Oct. 28, 2025
The Beliefs About Money That Held Me Back and What Finally Changed Them
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In this solo episode of the Wealth Academy Podcast, host Paul Lawrence Vann takes listeners on a transformational journey through the beliefs about money that once limited his financial growth and the mindset shifts that changed everything.
Paul reveals how early money messages from childhood shape the way we think, spend, and save as adults. He opens up about the internal obstacles that once held him back, and how embracing self-leadership became the key to rewriting his financial story.
Listeners will discover:
- How your early environment and experiences form your money beliefs
- Why awareness is the first step toward financial transformation
- How self-leadership empowers you to create new financial habits
- The three money beliefs that keep most people stuck in scarcity
- How to adopt an abundance mindset and attract greater opportunities
This episode isn’t just about dollars, it’s about developing a relationship with money that reflects confidence, purpose, and self-worth.
If you’re ready to let go of limiting beliefs and step into financial freedom, this episode will inspire you to lead yourself first — and watch your wealth follow.
Support this podcast at — https://redcircle.com/wealth-academy-podcast-wealth-is-more-than-just-money/donations
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[SPEAKER_00]: Welcome to Wealth the Academy podcast.
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[SPEAKER_00]: Thanks for tuning in to listen to this dynamic and insightful podcast with host Paul Lawrence Van.
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[SPEAKER_00]: Paul and his guests provide content rich information that will enhance your knowledge.
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[SPEAKER_00]: Enjoy this episode.
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[SPEAKER_01]: everyone and I hope that you are doing fantastic.
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[SPEAKER_01]: I hope you enjoy it to weekend and this is going to be an amazing week for you.
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[SPEAKER_01]: Again, my name is Paul Lawrence van and I host this amazing podcast, well, for Academy podcast.
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[SPEAKER_01]: And you know, our mantra, well, is more than just money.
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[SPEAKER_01]: Now, I want to be talking about something today that really impacts me, but it also impacts you as well.
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[SPEAKER_01]: Because I want to really lean into the importance of the following topics.
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[SPEAKER_01]: The beliefs about money that help me back and what filing changed them.
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[SPEAKER_01]: And I think for all of us, we have a story.
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[SPEAKER_01]: We have a episode in our lives where we experienced some money issues that we were just not ready for it.
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[SPEAKER_01]: One reason why is because we really didn't know a lot about money.
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[SPEAKER_01]: And so our experience with money and our relationship with money was totally different than it is today.
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[SPEAKER_01]: But we all have a beginning,
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[SPEAKER_01]: And that's why I'm on this topic today and this is fact is episode 315 and so I'm really going to lead into one of my financial strengths.
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[SPEAKER_01]: One of my strengths happens to be finance and I'm a certified financial manager serving in the Air Force at Mobile All Company.
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[SPEAKER_01]: And as well as working toward an accounting department, accounting firm at Atlanta when I was on
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[SPEAKER_01]: And so again, we're diving into one of the most powerful transformations I've ever experienced, and that has changed my beliefs about money.
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[SPEAKER_01]: So you see, for years, I thought success meant working harder, saving more and avoiding mistakes.
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[SPEAKER_01]: But what I didn't realize was that my mindset about money, those hidden beliefs I inherited
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[SPEAKER_01]: coming from that vantage point of coming from abject poverty, and that's really what the focus is all about.
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[SPEAKER_01]: And today, I'll share what those beliefs were, how they limited my potential, and the pivotal moment when everything shifted, and by the end of this episode, you'll learn how to identify and rewrite your own's money story.
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[SPEAKER_01]: So you can experience financial freedom, purpose, and peace.
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[SPEAKER_01]: And if you're ready, I'm ready as well.
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[SPEAKER_01]: Now, one of the things I want to do is look at some of the early experiences I had, and I want you to think about those that you had as well.
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[SPEAKER_01]: Are you a financial background in that shape your money beliefs?
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[SPEAKER_01]: in your childhood with the parents, community, and the influence that it had.
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[SPEAKER_01]: And also to introduce the idea that our relationship with money is emotional before it's logical.
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[SPEAKER_01]: There isn't that something.
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[SPEAKER_01]: And so that's what we're going to be covering today.
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[SPEAKER_01]: So join me for this journey because what it is going to entail, this one it entails on shifting.
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[SPEAKER_01]: in terms of how you think and a transformation in terms of moving forward and that's what this is really all about.
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[SPEAKER_01]: So I'm going to start out by talking about a few things that impacted me and I'm going to put you in that same relationship aspect from a money perspective because we
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[SPEAKER_01]: right in the palm of our lives, and then we transitioning to a more mature, our senior us.
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[SPEAKER_01]: And so that's the way I'm going to issue it.
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[SPEAKER_01]: But here's some of the questions that I want you to consider and we'll start them out.
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[SPEAKER_01]: The first question is what early money elections did I learn from my parents our environment and how have they shaped my current financial habits?
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[SPEAKER_01]: And so I want you to think about this in terms of yourself.
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[SPEAKER_01]: What early money elections did we learn from our parents or environment and how have they shaped our current financial habits?
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[SPEAKER_01]: Well, for me, and as you all know, we can't choose our parents.
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[SPEAKER_01]: nor the family, the extended family.
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[SPEAKER_01]: So we have to work with what we have.
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[SPEAKER_01]: And so for my parents and my family, extended family, they were very unpenual and spirit.
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[SPEAKER_01]: In other words, they like to fail things.
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[SPEAKER_01]: For example, my parents have the grocery store, vans, groceries.
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[SPEAKER_01]: for many decades, and I started working in that store at the age of 10, but I had other relatives, extended relatives, their own stores, or their own different businesses, some were dentists, and different things such as that.
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[SPEAKER_01]: But again, they didn't have a lot of money.
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[SPEAKER_01]: We were in the south,
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[SPEAKER_01]: And the opportunities of their unlimited other than someone working in a factory so my parents were factory workers and it there's nothing wrong with the work that they did because on his living.
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[SPEAKER_01]: And so they want to look at a way to earn one money and they came up with the side hustle it wasn't called side hustle back then.
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[SPEAKER_01]: but they started a community grocery store.
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[SPEAKER_01]: So people didn't have to go to at that time big box grocery stores of which there weren't that many in our hometown of Henderson, North Carolina.
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[SPEAKER_01]: But what it has to do with money is that they were trying to earn extra money along with the salary they had from their factory jobs.
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[SPEAKER_01]: My mother worked for the debacle factory for 28 years in
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[SPEAKER_01]: So as a result, they came up with a store idea, which I thought was brilliant because at least they were trying.
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[SPEAKER_01]: And so for my environment, everyone was about the same meaning from a income perspective, everyone was pretty much in that same ram where they were trying to find a way and they were part of what we call the working poor.
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[SPEAKER_01]: They had a job that the job didn't pay that much.
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[SPEAKER_01]: And one of the things that I saw was everyone had like an avid size house.
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[SPEAKER_01]: They were just trying to make ends meet.
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[SPEAKER_01]: It's really what I'm saying.
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[SPEAKER_01]: And many of you also have experienced that same thing growing up and then you're involved in your community.
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[SPEAKER_01]: Well, whether you're in a big city like New York where a lot of my relatives live, still people still just trying to make a way out of no way.
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[SPEAKER_01]: And finally, you know, some of us made the breakthrough and we're showing our children today and our extended family that if you put in the work, you'll get the results that you want, but it's going to take a lot of effort and again, this is a mindset or anything that I'm talking about and how did it shake my financial habits well given that I started working at the age of 10.
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[SPEAKER_01]: I kind of had an advantage over my peers, my colleagues, my friends and my extended family because I was actually in business very young and as a result I had a different perspective of money.
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[SPEAKER_01]: I knew how to make money.
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[SPEAKER_01]: And I knew how to work with people to extend credit, to work with the vendors of people who deliver the milk, the ice cream, the sodas, the fish, every thirst, and I knew all of those things.
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[SPEAKER_01]: And so I was very industrious, if you will.
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[SPEAKER_01]: And that led to me, of course, we're adorating from high school and going to college for business administration.
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[SPEAKER_01]: So I was right in that line of understanding business, entrepreneurship, how to make money,
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[SPEAKER_01]: and how to go about helping others do the same thing.
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[SPEAKER_01]: And so for my current financial habits, I went on that the graduate from college with a degree in business and accounting and I work as an acquisition expert.
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[SPEAKER_01]: and financial analysts and financial cost estimator.
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[SPEAKER_01]: So I did all of those financial things.
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[SPEAKER_01]: I was always in that financial money range.
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[SPEAKER_01]: Contracts upwards of $3 billion and more.
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[SPEAKER_01]: So money and I have a very good relationship and how did that impact me personally?
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[SPEAKER_01]: Well, I understood that there were many ways to invest and I took advantage of it.
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[SPEAKER_01]: First of all, by starting,
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[SPEAKER_01]: and insurance policy even before I went into the military a whole life policy.
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[SPEAKER_01]: And it was just really about happen chance that happened to be an individual who came to the North current, I was attending Shard University but I had RRTC at North Carolina State University.
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[SPEAKER_01]: And he said, hey, he held a conference at Little Seminar at the University at North Carolina State University.
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[SPEAKER_01]: He was insurance agent.
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[SPEAKER_01]: And so I just decided, okay, well, I'll put some money there.
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[SPEAKER_01]: I was working at UPS.
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[SPEAKER_01]: At the time, and I had $100 a month for the Air Force ROTC, so I was actually making money.
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[SPEAKER_01]: Then in real dollars, I was making more then that I was in the military once I went in there because all the taxes and the value of money at the time.
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[SPEAKER_01]: So to make a long story short, I want you to think about what you learn from your parents.
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[SPEAKER_01]: And what I learned from my parents about money is that given that they had 10 children, I really pecked them on the back and give them a loving hug because I couldn't do that.
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[SPEAKER_01]: There was a ball, people is all I can tell you.
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[SPEAKER_01]: I couldn't do 10 children, good law it.
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[SPEAKER_01]: But I just want to say that everything is possible as long as you give it a chance.
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[SPEAKER_01]: And so how it's shaped on my current financial habit, I know how to make money work for me because there's so many different avenues of wish to do it.
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[SPEAKER_01]: Now, in fact last night, I was on a webinar with a lady who does a lot with,
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[SPEAKER_01]: passive income about reach and it was really amazing and a lot of people were signed up for that program and everything but it's things that you learn over time.
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[SPEAKER_01]: So think about how it impacts you from the standpoint of your relationship with your parents and the environment or community you grew up in.
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[SPEAKER_01]: Here's the next thing I'm going to talk to you about.
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[SPEAKER_01]: Did you ever feel guilty
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[SPEAKER_01]: Now, on this particular note, and you all know from wealth category, podcasts, wealth is more than just money.
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[SPEAKER_01]: I mean, it's that simple because you have your health.
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[SPEAKER_01]: If you have just trillions of dollars and you have poor health, well, that money is not gonna do you any good.
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[SPEAKER_01]: You need wealth is all about the health that you have, lifestyle that you have.
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[SPEAKER_01]: the type of people that you meet, what you're giving back and legacy to the children your community.
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[SPEAKER_01]: So, so, a lot of things wrapped up into, well, I don't feel guilty, I deserve it of wealth because I know that it's not just a money that's the important part of it.
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[SPEAKER_01]: And I've worked very hard for every penny that I earned, just to give you an example.
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[SPEAKER_01]: And I want you to think about some examples for your life.
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[SPEAKER_01]: When I was in my teens, I've worked for a farmer, being another people work for a farmer.
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[SPEAKER_01]: He would pick us up that five in the morning, and he would take us to his farm, and we would plan tobacco.
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[SPEAKER_01]: And what is piling tobacco?
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[SPEAKER_01]: It's going out.
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[SPEAKER_01]: on this farm, I mean, these long football field rows of tobacco, and you have to pull from the stock, you have to pull the choice leaves that would go and to be processed in the barn and ultimately sold to a tobacco company.
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[SPEAKER_01]: And that's the work I did, and it was hard work.
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[SPEAKER_01]: And oftentimes, the leaves would have chemicals.
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[SPEAKER_01]: And I mean, chemicals would get into my skin.
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[SPEAKER_01]: And when a time for me to get off a work at about 12, I would rest a bit and then go to football practice.
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[SPEAKER_01]: And I was actually at football practice sick.
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[SPEAKER_01]: And I couldn't figure out why.
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[SPEAKER_01]: And they said, well, it's because that tobacco, the chemicals in the notes tobacco is getting into your skin.
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[SPEAKER_01]: And that's what's making you sick.
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[SPEAKER_01]: So you know what happened next.
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[SPEAKER_01]: That's no need for me to get sick.
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[SPEAKER_01]: Even though I earned quite a bit of money in that period of time, that's seven hours so that I worked each morning.
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[SPEAKER_01]: And I was young, then so I could work all day, but those chemicals that changed my mind in terms of working in that environment.
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[SPEAKER_01]: And so I went on and played football and just left it at that.
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[SPEAKER_01]: So I want you to think about it.
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[SPEAKER_01]: Do you feel guilty or undeserving of wealth?
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[SPEAKER_01]: I don't.
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[SPEAKER_01]: I have wealth in my life.
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[SPEAKER_01]: I have good friendships, good relationships.
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[SPEAKER_01]: I want to make a difference in the lives of others.
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[SPEAKER_01]: I have a very strong personal relationship with our Creator God and I really do the best I can with.
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[SPEAKER_01]: really translated and navigate in life as we know it today.
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[SPEAKER_01]: And so I want you to think about that.
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[SPEAKER_01]: Now, the next thing we're going to talk about is how it's scarcity thinking I show up in my life or business.
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[SPEAKER_01]: Again, how did scarcity thinking show up in my life or business?
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[SPEAKER_01]: And I want you to think about this too.
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[SPEAKER_01]: Well, from a scarcity standpoint, we didn't have a whole lot, but we had each other.
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[SPEAKER_01]: We knew that when Christmas came and our parents had Christmas
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[SPEAKER_01]: Other than paying for their mortgage on their house, their utilities, and insurance, and other things, we knew that Christmas was going to be big, and mine, you, all of us, there were, again, 10 children.
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[SPEAKER_01]: One passed away at birth, but I still count him and my younger, my brother Eugene.
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[SPEAKER_01]: And so what I want to say is that when it comes to scarcity, we did not go hungry.
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[SPEAKER_01]: Because we had a garden in the yard, we did not really want for anything because we again have the store.
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[SPEAKER_01]: So when it came to eating, when you're young, the main thing is that you eat in the sense our parents had a store, we had candy.
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[SPEAKER_01]: For five years so I could get what I wanted to get.
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[SPEAKER_01]: I didn't want to think anything as far as I was concerned.
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[SPEAKER_01]: I was a button that I was living in a funded life.
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[SPEAKER_01]: So again, I want you to think about that.
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[SPEAKER_01]: Scared thinking.
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[SPEAKER_01]: I guess when we look at scarcity thinking and if we don't know and don't have a good relationship with money,
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[SPEAKER_01]: All the money we earn, it will burn a hole and how pockets are in our purse.
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[SPEAKER_01]: And so we have to really be cognizant of the fact that money is a tool to help you help other, help yourself and help others.
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[SPEAKER_01]: And it's not so much that we spin it all, but we need, of course, put some money back and put some of that money back to save it.
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[SPEAKER_01]: Once we save some, we invest it, and then we come into that passive income that we need.
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[SPEAKER_01]: And of course, leading up to retirement.
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[SPEAKER_01]: And I've been retired from the Air Force for 23 years now.
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[SPEAKER_01]: So I definitely know how to manage life.
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[SPEAKER_01]: And for the rest of my life, I will see for retirement pay from the military.
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[SPEAKER_01]: Of course, the Social Security, of course, disability pay, different things like that.
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[SPEAKER_01]: Different companies are work for stocks and everything.
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[SPEAKER_01]: So and then insurance.
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[SPEAKER_01]: So when you start looking at that from a scarce standpoint,
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[SPEAKER_01]: parents, but in terms of their age, my life style is a lot better only because I have more opportunities.
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[SPEAKER_01]: That's the only difference.
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[SPEAKER_01]: And I didn't have 10 kids.
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[SPEAKER_01]: I have two children.
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[SPEAKER_01]: And that helps as well.
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[SPEAKER_01]: So, when it comes to business, I really invest a lot in different experts programs.
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[SPEAKER_01]: and pretty soon I'll be doing going through a webinar series with an amazing, amazing marketing expert and then I also have some things I'm doing with the Facebook groups and also with this podcast, I'm actually going through some podcast coaching now to help make it.
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[SPEAKER_01]: a better and more profitable that I can work with people through that and so many other things that I'm doing and I'm truly, truly enjoying my journey.
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[SPEAKER_01]: And here's the next thing I want to talk about is what was a turning point when you realized your beliefs, not your bank account, needed to change first.
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[SPEAKER_01]: Now, I'll preface this to each and every one of you.
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[SPEAKER_01]: I'm reading this question because I really
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[SPEAKER_01]: When you look at the mirror again, what was a turning point when you realized your beliefs, not your bank account needed to change first?
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[SPEAKER_01]: Well, first of all, we all know that in the year, a pivotal year to me was that year when we had the financial downturn in that 2007 to maybe 2009, a time frame, and people were losing their houses, they were losing their jobs,
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[SPEAKER_01]: they were losing their minds.
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[SPEAKER_01]: And you had millionaires standing in food bank aligned because they had just lost everything.
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[SPEAKER_01]: And market was turned upside down.
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[SPEAKER_01]: And it was a point in period and time when I was actually doing live TV at the local TV station in Washington, DC.
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[SPEAKER_01]: And I was talking about ways of how people could avoid.
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[SPEAKER_01]: losing their home to mortgage foreclosure, and then the other specialty I had was what should people do if they were seen with summons from the judge because they couldn't afford to pay their bills.
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[SPEAKER_01]: That was the second specialty error that I had.
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[SPEAKER_01]: So I go in a lot from that experience, those live TV interviews, and it really helped a lot of people because after I was interviewed and individually, I would also answer calls from residents and the metropolitan Washington DC area.
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[SPEAKER_01]: So, in terms of understanding what needed to change first, for me, it really came down to just common sense.
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[SPEAKER_01]: It came down to get out a note pad, a paper, put it in your
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[SPEAKER_01]: assets have much you earn and then on the on the left side on the right side put down your expenses for me was the mortgage the utilities the medical care insurance I mean just everything car payment I no longer have car payment anything like that and then of course you have credit cards getting those credit card.
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[SPEAKER_01]: balance is getting them to zero and and different things such as that.
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[SPEAKER_01]: And so when it came down to changing my beliefs, it was that you have to get fundamental you have to get basic.
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[SPEAKER_01]: I found my own taxes, so from that standpoint, it gives me a birds eye view of all of my income and all of my expenses.
19:41.592 --> 19:53.126
[SPEAKER_01]: After all, I had worked into accounting department, and I was a budget officer in the Air Force, so those things for me was pretty normal, but I asked you this question, what is it like for you?
19:53.687 --> 19:58.513
[SPEAKER_01]: Do you know every pendant that you spend, every dime that you earn?
19:58.493 --> 20:04.428
[SPEAKER_01]: And these are things that we should know and work from there, so that's my perspective.
20:04.969 --> 20:13.650
[SPEAKER_01]: And so what the next issue I want to talk about is what steps did I take to start reprogram my money, my step?
20:13.630 --> 20:29.850
[SPEAKER_01]: Well, for me, it was a little bit easier because I had been working since the age of 10 and working in the family store and hell on the cash register and writing checks to the vendors and then going on the college and going through all their counting on my God ahead.
20:30.218 --> 20:38.893
[SPEAKER_01]: When I graduated from college, I had over 40 hours of accounting and enough to sit for the certified public account position certification.
20:39.615 --> 20:52.277
[SPEAKER_01]: So from that standpoint, from my mind, money mindset on my personal side of things, and I want you to think about the personal side of things for you, it is just to be grounded in financial intelligence.
20:52.898 --> 21:07.920
[SPEAKER_01]: Understanding that assets and vestments and then legacy, what legacy I want to pass on to my family when that day when I transition so that's something we all have to give consideration to.
21:07.900 --> 21:18.215
[SPEAKER_01]: So the next thing I want to talk about as we press forward is how the shifting from a consumer to an investorize that shaped the financial confidence.
21:18.816 --> 21:27.428
[SPEAKER_01]: Well, this is just a wonderful, wonderful question and consumers we live in a consumer economy here in the United States.
21:27.408 --> 21:42.836
[SPEAKER_01]: And we can tell by watching television, we've marketed it with things that marked to us this, that and the other, meaning a new car, soda, pizza, you name it, clothing, everything is being marketed to us.
21:42.856 --> 21:44.960
[SPEAKER_01]: So we have to take a step back in this state.
21:45.721 --> 21:47.445
[SPEAKER_01]: What do we really need in life?
21:48.226 --> 21:50.230
[SPEAKER_01]: Versus what we really want in life.
21:50.330 --> 21:51.492
[SPEAKER_01]: We want it all.
21:52.096 --> 21:55.923
[SPEAKER_01]: but we just need to focus in on what we really want.
21:56.544 --> 22:00.571
[SPEAKER_01]: Then assess the people, excuse me, we need to focus in on what we really need.
22:01.272 --> 22:06.281
[SPEAKER_01]: And oftentimes, people just think about, hey, I'd like to see this.
22:06.402 --> 22:08.405
[SPEAKER_01]: I'd like to see that, are there friends by somewhere?
22:08.686 --> 22:09.627
[SPEAKER_01]: Well, I want to do this.
22:09.668 --> 22:10.850
[SPEAKER_01]: I want to buy a house like that.
22:10.870 --> 22:12.232
[SPEAKER_01]: I want to buy a car like that.
22:12.252 --> 22:13.775
[SPEAKER_01]: But that's not the important part.
22:13.815 --> 22:15.538
[SPEAKER_01]: The important part is,
22:15.518 --> 22:22.169
[SPEAKER_01]: You need a roof over your head, you need some food, and you need to get some health care if you need that.
22:22.770 --> 22:24.793
[SPEAKER_01]: And then everything else would take care of yourself.
22:24.973 --> 22:32.145
[SPEAKER_01]: Everything beyond that is really a bonus because we want things that we really don't need.
22:32.165 --> 22:34.509
[SPEAKER_01]: So here comes my quote that I'd love to share.
22:35.270 --> 22:39.477
[SPEAKER_01]: Rich people live like they're poor and poor people live like they're rich.
22:40.358 --> 22:42.201
[SPEAKER_01]: You know the difference between the two.
22:43.261 --> 22:45.844
[SPEAKER_01]: So going from a consumer to investment.
22:46.285 --> 22:58.180
[SPEAKER_01]: So for me, I was in the Air Force for eight years as a captain and I separated from the Air Force because I had been really researched by number of different corporations.
22:58.961 --> 23:05.208
[SPEAKER_01]: And I ended up deciding to depart the Air Force and I went to work for mobile all company.
23:05.248 --> 23:12.137
[SPEAKER_01]: They recruited me there as a part of their professional team to put a cost analysis background that I had at the time.
23:12.961 --> 23:18.688
[SPEAKER_01]: and I purchased my first house, so boom, there's my first big investment.
23:18.708 --> 23:31.904
[SPEAKER_01]: And then two years later, there was this recruitment going on behind the door, behind the curtains from the Air Force again, hey, we want you to come back to active duty and I thought about it, so what would I be station?
23:32.204 --> 23:36.149
[SPEAKER_01]: They said the Pentagon, who the Pentagon?
23:36.169 --> 23:41.095
[SPEAKER_01]: Oh yeah, you know I returned to the Air Force and then I bought another house.
23:42.340 --> 23:54.119
[SPEAKER_01]: So I had two houses, so I at least went out in Texas for about 12 years and then I purchased the current house that I'm living in now and that's part of my investment transformation.
23:54.580 --> 24:06.559
[SPEAKER_01]: So I went from a consumer to an investor with that mindset and that really helped my financial confidence and what I mean about that is the fact that when you look at
24:06.539 --> 24:21.713
[SPEAKER_01]: I went from renting to own in a house, it really made a tremendous difference, and so thing I want to say to you is, where are you in that position of going from a consumer to investor?
24:22.756 --> 24:25.939
[SPEAKER_01]: Take good note of it because it can help you in the future.
24:26.480 --> 24:33.887
[SPEAKER_01]: So the next thing I'm going to talk about right now is what role did self-leadership and discipline play in my financial transformation?
24:34.548 --> 24:42.916
[SPEAKER_01]: Well, I really just decided that I needed to lead myself first, and that means being self-accountability.
24:43.797 --> 24:52.746
[SPEAKER_01]: I had to also open up my mind about the fact that myself awareness, where did I see myself five years
24:53.249 --> 25:08.254
[SPEAKER_01]: I have the self awareness, I have the self accountability, and then I also have to look at my emotional intelligence and where did I want to be, what type of emotions that I want to have about the money.
25:08.487 --> 25:11.551
[SPEAKER_01]: And money really is an inevitable thing.
25:11.591 --> 25:25.991
[SPEAKER_01]: It's just a valuation, a price someone puts on it like the price that in the worth of what I receive from a retirement pay and different things such as that income sources of business, et cetera.
25:26.352 --> 25:34.984
[SPEAKER_01]: Contracts I've reached with different companies to go to the realm of the world and around the country.
25:35.538 --> 25:40.226
[SPEAKER_01]: And so myself, leadership took me into that direction in the path that I wanted to be on.
25:40.266 --> 25:52.446
[SPEAKER_01]: And once I could lead myself, get my awareness, my accountability, and myself, we're also getting that into line that then I could lead, but the money that I had and money wants you to lead it.
25:52.767 --> 25:54.590
[SPEAKER_01]: So don't disappoint money.
25:55.191 --> 25:56.413
[SPEAKER_01]: I mean, that's why I was there.
25:57.094 --> 26:01.782
[SPEAKER_01]: And then when we look at the discipline,
26:01.947 --> 26:14.981
[SPEAKER_01]: When it comes to money, we definitely have to be disciplined because there are a lot of things that people want, we're, again, we're offered things today that we would never offer before because of this cell phone.
26:15.562 --> 26:27.195
[SPEAKER_01]: And so when we look at social media and everything, whether it's Instagram, whether it's LinkedIn, whether it's TikTok, whatever it happens to be, people are marketing and advertising.
26:27.513 --> 26:33.509
[SPEAKER_01]: all kinds of products and services and consultations out there.
26:33.870 --> 26:38.702
[SPEAKER_01]: And so we have to really be disciplined and rain in any overspending.
26:38.722 --> 26:40.527
[SPEAKER_01]: I'll start with myself.
26:42.059 --> 26:54.194
[SPEAKER_01]: Okay, so the last question is this, and then I'm going to wrap this up, is what's one belief about money that I hold today that completely contrasts the one that I held back years ago?
26:54.595 --> 26:55.957
[SPEAKER_01]: So I'm a preface this to you.
26:56.858 --> 27:04.187
[SPEAKER_01]: What's one belief about money you hold today that completely contrasts the one that you had back years ago?
27:04.808 --> 27:11.897
[SPEAKER_01]: Well, for me, the thing about money is that
27:12.164 --> 27:19.912
[SPEAKER_01]: to a creator, and I've taken words, and words of powerful, and I've turned those words into speeches.
27:20.933 --> 27:22.996
[SPEAKER_01]: I've turned them into keynote speeches.
27:23.096 --> 27:25.458
[SPEAKER_01]: I've turned those into virtual speaking.
27:25.819 --> 27:29.603
[SPEAKER_01]: I've turned it into training, and then I've also written books.
27:29.623 --> 27:35.929
[SPEAKER_01]: And so I've gone from being a consumer, wholly just a consumer, to become an a creator.
27:35.969 --> 27:41.175
[SPEAKER_01]: And I haven't come up, and hey, this podcast right here,
27:41.712 --> 27:43.217
[SPEAKER_01]: That's a part of
27:43.535 --> 27:55.731
[SPEAKER_01]: My beliefs about money, that with my podcasts, I can change a lives, I can change individuals, I can change communities because the podcast goes all over the world.
27:55.811 --> 28:12.192
[SPEAKER_01]: And I was looking at statistics the other day and I'm all in the United States, of course, in the UK, in Europe, in Asia, in South America, of course, in the great country of Canada,
28:12.172 --> 28:22.271
[SPEAKER_01]: And I'm just really honored to be able to work with some amazing people in our border countries and also in South America.
28:23.113 --> 28:26.459
[SPEAKER_01]: We have some really great countries there and great people there.
28:26.519 --> 28:27.922
[SPEAKER_01]: And I've traveled there before.
28:28.463 --> 28:32.070
[SPEAKER_01]: So the thing I want to say is that
28:32.438 --> 29:00.859
[SPEAKER_01]: When it looks at beliefs that I hold today is that it's totally didn't have those opportunities when I was growing up and so it does take time and so the thing I want to look at what I used to be when I didn't have a pot that cook in, there was a transformation.
29:01.328 --> 29:16.654
[SPEAKER_01]: Uh, some consideration, I want you to look at it, could have been a mentor or a financial setback or a mindset course or a moment of awareness and I think for me, the moment of awareness was being able to see that
29:16.634 --> 29:29.777
[SPEAKER_01]: When I was in the prime of my military career of which I served 22 years, I really worked for a member of Congress who's a multi-millionaire at his father was as well.
29:30.157 --> 29:32.922
[SPEAKER_01]: And I met Mickey Mota, they had Mickey Mota.
29:32.902 --> 29:35.345
[SPEAKER_01]: And he was a multi-millionist.
29:35.405 --> 29:40.932
[SPEAKER_01]: I was meeting people that were just, I was in the same spaces they were.
29:41.492 --> 29:49.382
[SPEAKER_01]: So I found myself saying, well, if that's the case, and also my earning should be in that neighborhood as well.
29:49.522 --> 29:55.950
[SPEAKER_01]: Not that I was comparing, but I had the same level into lack and ability as the next person did.
29:56.491 --> 30:01.677
[SPEAKER_01]: And so that's what was the awareness of the moment of awareness for me.
30:01.657 --> 30:09.369
[SPEAKER_01]: And then how that self-lettership, it was a key to transforming what I earn, managed, and invested money.
30:09.389 --> 30:11.632
[SPEAKER_01]: And I still invest money to this day.
30:12.653 --> 30:23.930
[SPEAKER_01]: And then when it comes to actionable takeaways that can apply immediately awareness, we want to look at and identify the top three money stories that you tell yourself.
30:24.771 --> 30:27.816
[SPEAKER_01]: And here my three, my three are,
30:28.285 --> 30:36.153
[SPEAKER_01]: is that I have the ability to tap into the abundance that exists in the universe.
30:36.173 --> 30:51.750
[SPEAKER_01]: I have a transformation, a money story that, where I transition from making no money to some money and then receiving significant amounts of money over the course of my lifetime.
30:52.431 --> 30:56.655
[SPEAKER_01]: And then the other money story is, is that money can help people.
30:57.057 --> 31:00.003
[SPEAKER_01]: and the more money I earn, the more people I can help.
31:00.724 --> 31:14.289
[SPEAKER_01]: And then when it comes to an actual take away from a challenge, I ask you this, if those stories are true or inherited, my stories are true, and I know that yours are as well.
31:14.971 --> 31:18.998
[SPEAKER_01]: And then I replaced it, and you can replace it with creating empowering,
31:18.978 --> 31:21.862
[SPEAKER_01]: money, beliefs that align with your goals.
31:21.922 --> 31:29.493
[SPEAKER_01]: So if you have a goal to live in a gay-to-community, you can achieve that goal as long as you put that work in.
31:30.094 --> 31:39.668
[SPEAKER_01]: And then when you look at what type of monetary legacy you want to live, if you want to be able to live your family, your children, and inheritance so that they won't have to struggle.
31:39.748 --> 31:42.552
[SPEAKER_01]: Because we know this is struggle today.
31:42.612 --> 31:44.395
[SPEAKER_01]: When we look at
31:44.881 --> 32:00.340
[SPEAKER_01]: our federal employees who are out there one day they have a mortgage plan for student loans in the next day they don't have it anymore and the impact that that has on them and I wish that on no one absolutely no one should go through that but here we are.
32:01.201 --> 32:07.429
[SPEAKER_01]: So in closing what I have to say is this, when I changed
32:07.848 --> 32:11.514
[SPEAKER_01]: how I've thought about money, everything else changed.
32:12.175 --> 32:16.162
[SPEAKER_01]: My opportunities, my confidence, and my results.
32:16.182 --> 32:17.685
[SPEAKER_01]: And I want you to remember this.
32:18.827 --> 32:21.671
[SPEAKER_01]: Money amplifies who you are.
32:21.691 --> 32:30.987
[SPEAKER_01]: If you're driven, generous, and generosity is very important and growth-minded, wealth will simply magnify that.
32:31.608 --> 32:38.557
[SPEAKER_01]: And your financial future isn't determined by your past is really written by your next decision.
32:38.577 --> 32:43.784
[SPEAKER_01]: So choose to tap into a binders.
32:44.865 --> 33:00.045
[SPEAKER_01]: Now, my call to action for you for this episode, 350 is this, if this episode resonate with you, take a moment today to write down your top three beliefs about money and challenge them.
33:01.021 --> 33:07.108
[SPEAKER_01]: Then share your biggest insight from this episode by tagging me at Paul Vance.
33:07.128 --> 33:16.139
[SPEAKER_01]: Tagging me at Paul Lons van and using a hashtag, pound, wealth is more than money.
33:17.020 --> 33:30.235
[SPEAKER_01]: And don't forget to subscribe, rate, and review the wealth and Academy podcast on Apple Podcast because every share helps someone else break free from their limiting beliefs and start building for wealth.
33:30.552 --> 33:39.461
[SPEAKER_01]: And I want you to know that it is an honor and a duty to have share this episode at the end of 2015.
33:39.622 --> 33:51.474
[SPEAKER_01]: If you go to Apple Podcasts, provide it five star rating and a review and I really appreciate you and I will see you on the next episode of Wellf Academy Podcasts.
33:51.494 --> 33:53.637
[SPEAKER_01]: Have a great day because you deserve it.
33:54.457 --> 33:56.880
[SPEAKER_01]: And I do too, have a great day.
34:08.858 --> 34:12.364
[SPEAKER_00]: Thank you for listening to this episode with Paul and his guest.
34:12.765 --> 34:22.503
[SPEAKER_00]: I hope you enjoyed this episode and Paul requests that you rate and review this episode and others on Apple Podcasts and wherever you listen to podcasts.
34:22.523 --> 34:30.597
[SPEAKER_00]: View all wealth Academy podcast episodes at www.wealthacademypodcast.com
00:01.448 --> 00:04.535
[SPEAKER_00]: Welcome to Wealth the Academy podcast.
00:04.555 --> 00:10.409
[SPEAKER_00]: Thanks for tuning in to listen to this dynamic and insightful podcast with host Paul Lawrence Van.
00:10.891 --> 00:15.882
[SPEAKER_00]: Paul and his guests provide content rich information that will enhance your knowledge.
00:16.424 --> 00:17.787
[SPEAKER_00]: Enjoy this episode.
00:26.525 --> 00:30.381
[SPEAKER_01]: everyone and I hope that you are doing fantastic.
00:30.401 --> 00:34.780
[SPEAKER_01]: I hope you enjoy it to weekend and this is going to be an amazing week for you.
00:35.030 --> 00:41.479
[SPEAKER_01]: Again, my name is Paul Lawrence van and I host this amazing podcast, well, for Academy podcast.
00:41.499 --> 00:45.284
[SPEAKER_01]: And you know, our mantra, well, is more than just money.
00:45.785 --> 00:52.514
[SPEAKER_01]: Now, I want to be talking about something today that really impacts me, but it also impacts you as well.
00:52.875 --> 00:57.040
[SPEAKER_01]: Because I want to really lean into the importance of the following topics.
00:57.681 --> 01:03.349
[SPEAKER_01]: The beliefs about money that help me back and what filing changed them.
01:03.667 --> 01:05.910
[SPEAKER_01]: And I think for all of us, we have a story.
01:06.511 --> 01:13.380
[SPEAKER_01]: We have a episode in our lives where we experienced some money issues that we were just not ready for it.
01:13.981 --> 01:17.025
[SPEAKER_01]: One reason why is because we really didn't know a lot about money.
01:17.326 --> 01:23.955
[SPEAKER_01]: And so our experience with money and our relationship with money was totally different than it is today.
01:24.335 --> 01:26.198
[SPEAKER_01]: But we all have a beginning,
01:26.178 --> 01:38.372
[SPEAKER_01]: And that's why I'm on this topic today and this is fact is episode 315 and so I'm really going to lead into one of my financial strengths.
01:38.713 --> 01:46.242
[SPEAKER_01]: One of my strengths happens to be finance and I'm a certified financial manager serving in the Air Force at Mobile All Company.
01:46.542 --> 01:53.350
[SPEAKER_01]: And as well as working toward an accounting department, accounting firm at Atlanta when I was on
01:54.089 --> 02:03.943
[SPEAKER_01]: And so again, we're diving into one of the most powerful transformations I've ever experienced, and that has changed my beliefs about money.
02:03.963 --> 02:10.431
[SPEAKER_01]: So you see, for years, I thought success meant working harder, saving more and avoiding mistakes.
02:10.852 --> 02:19.624
[SPEAKER_01]: But what I didn't realize was that my mindset about money, those hidden beliefs I inherited
02:20.228 --> 02:27.459
[SPEAKER_01]: coming from that vantage point of coming from abject poverty, and that's really what the focus is all about.
02:27.760 --> 02:41.802
[SPEAKER_01]: And today, I'll share what those beliefs were, how they limited my potential, and the pivotal moment when everything shifted, and by the end of this episode, you'll learn how to identify and rewrite your own's money story.
02:42.183 --> 02:46.810
[SPEAKER_01]: So you can experience financial freedom, purpose, and peace.
02:46.790 --> 02:49.458
[SPEAKER_01]: And if you're ready, I'm ready as well.
02:50.000 --> 02:57.222
[SPEAKER_01]: Now, one of the things I want to do is look at some of the early experiences I had, and I want you to think about those that you had as well.
02:57.784 --> 03:00.833
[SPEAKER_01]: Are you a financial background in that shape your money beliefs?
03:01.150 --> 03:05.577
[SPEAKER_01]: in your childhood with the parents, community, and the influence that it had.
03:06.138 --> 03:12.648
[SPEAKER_01]: And also to introduce the idea that our relationship with money is emotional before it's logical.
03:13.008 --> 03:14.010
[SPEAKER_01]: There isn't that something.
03:14.470 --> 03:16.894
[SPEAKER_01]: And so that's what we're going to be covering today.
03:17.435 --> 03:23.985
[SPEAKER_01]: So join me for this journey because what it is going to entail, this one it entails on shifting.
03:23.965 --> 03:31.632
[SPEAKER_01]: in terms of how you think and a transformation in terms of moving forward and that's what this is really all about.
03:32.513 --> 03:51.070
[SPEAKER_01]: So I'm going to start out by talking about a few things that impacted me and I'm going to put you in that same relationship aspect from a money perspective because we
03:52.096 --> 03:58.402
[SPEAKER_01]: right in the palm of our lives, and then we transitioning to a more mature, our senior us.
03:59.863 --> 04:02.165
[SPEAKER_01]: And so that's the way I'm going to issue it.
04:02.665 --> 04:07.469
[SPEAKER_01]: But here's some of the questions that I want you to consider and we'll start them out.
04:07.810 --> 04:16.918
[SPEAKER_01]: The first question is what early money elections did I learn from my parents our environment and how have they shaped my current financial habits?
04:17.398 --> 04:21.782
[SPEAKER_01]: And so I want you to think about this in terms of yourself.
04:22.150 --> 04:31.474
[SPEAKER_01]: What early money elections did we learn from our parents or environment and how have they shaped our current financial habits?
04:32.316 --> 04:38.893
[SPEAKER_01]: Well, for me, and as you all know, we can't choose our parents.
04:39.802 --> 04:41.846
[SPEAKER_01]: nor the family, the extended family.
04:42.327 --> 04:44.291
[SPEAKER_01]: So we have to work with what we have.
04:44.471 --> 04:51.305
[SPEAKER_01]: And so for my parents and my family, extended family, they were very unpenual and spirit.
04:51.866 --> 04:54.190
[SPEAKER_01]: In other words, they like to fail things.
04:54.872 --> 04:59.160
[SPEAKER_01]: For example, my parents have the grocery store, vans, groceries.
04:59.140 --> 05:15.122
[SPEAKER_01]: for many decades, and I started working in that store at the age of 10, but I had other relatives, extended relatives, their own stores, or their own different businesses, some were dentists, and different things such as that.
05:15.683 --> 05:18.246
[SPEAKER_01]: But again, they didn't have a lot of money.
05:19.007 --> 05:20.389
[SPEAKER_01]: We were in the south,
05:20.825 --> 05:31.585
[SPEAKER_01]: And the opportunities of their unlimited other than someone working in a factory so my parents were factory workers and it there's nothing wrong with the work that they did because on his living.
05:32.547 --> 05:40.302
[SPEAKER_01]: And so they want to look at a way to earn one money and they came up with the side hustle it wasn't called side hustle back then.
05:40.282 --> 05:42.645
[SPEAKER_01]: but they started a community grocery store.
05:42.665 --> 05:51.235
[SPEAKER_01]: So people didn't have to go to at that time big box grocery stores of which there weren't that many in our hometown of Henderson, North Carolina.
05:51.876 --> 06:00.265
[SPEAKER_01]: But what it has to do with money is that they were trying to earn extra money along with the salary they had from their factory jobs.
06:01.006 --> 06:05.952
[SPEAKER_01]: My mother worked for the debacle factory for 28 years in
06:06.252 --> 06:14.022
[SPEAKER_01]: So as a result, they came up with a store idea, which I thought was brilliant because at least they were trying.
06:14.743 --> 06:28.682
[SPEAKER_01]: And so for my environment, everyone was about the same meaning from a income perspective, everyone was pretty much in that same ram where they were trying to find a way and they were part of what we call the working poor.
06:29.219 --> 06:31.702
[SPEAKER_01]: They had a job that the job didn't pay that much.
06:32.503 --> 06:39.431
[SPEAKER_01]: And one of the things that I saw was everyone had like an avid size house.
06:40.552 --> 06:42.434
[SPEAKER_01]: They were just trying to make ends meet.
06:42.454 --> 06:43.435
[SPEAKER_01]: It's really what I'm saying.
06:43.455 --> 06:48.722
[SPEAKER_01]: And many of you also have experienced that same thing growing up and then you're involved in your community.
06:48.782 --> 06:56.931
[SPEAKER_01]: Well, whether you're in a big city like New York where a lot of my relatives live, still people still just trying to make a way out of no way.
06:57.333 --> 07:22.311
[SPEAKER_01]: And finally, you know, some of us made the breakthrough and we're showing our children today and our extended family that if you put in the work, you'll get the results that you want, but it's going to take a lot of effort and again, this is a mindset or anything that I'm talking about and how did it shake my financial habits well given that I started working at the age of 10.
07:22.814 --> 07:35.666
[SPEAKER_01]: I kind of had an advantage over my peers, my colleagues, my friends and my extended family because I was actually in business very young and as a result I had a different perspective of money.
07:35.746 --> 07:37.009
[SPEAKER_01]: I knew how to make money.
07:37.715 --> 07:48.791
[SPEAKER_01]: And I knew how to work with people to extend credit, to work with the vendors of people who deliver the milk, the ice cream, the sodas, the fish, every thirst, and I knew all of those things.
07:49.171 --> 07:51.735
[SPEAKER_01]: And so I was very industrious, if you will.
07:52.275 --> 07:58.204
[SPEAKER_01]: And that led to me, of course, we're adorating from high school and going to college for business administration.
07:58.664 --> 08:04.853
[SPEAKER_01]: So I was right in that line of understanding business, entrepreneurship, how to make money,
08:05.069 --> 08:08.058
[SPEAKER_01]: and how to go about helping others do the same thing.
08:08.761 --> 08:18.792
[SPEAKER_01]: And so for my current financial habits, I went on that the graduate from college with a degree in business and accounting and I work as an acquisition expert.
08:19.177 --> 08:22.982
[SPEAKER_01]: and financial analysts and financial cost estimator.
08:23.222 --> 08:25.445
[SPEAKER_01]: So I did all of those financial things.
08:25.465 --> 08:28.028
[SPEAKER_01]: I was always in that financial money range.
08:28.608 --> 08:31.872
[SPEAKER_01]: Contracts upwards of $3 billion and more.
08:32.333 --> 08:37.499
[SPEAKER_01]: So money and I have a very good relationship and how did that impact me personally?
08:37.960 --> 08:42.505
[SPEAKER_01]: Well, I understood that there were many ways to invest and I took advantage of it.
08:42.745 --> 08:44.087
[SPEAKER_01]: First of all, by starting,
08:44.675 --> 08:49.960
[SPEAKER_01]: and insurance policy even before I went into the military a whole life policy.
08:50.328 --> 09:01.166
[SPEAKER_01]: And it was just really about happen chance that happened to be an individual who came to the North current, I was attending Shard University but I had RRTC at North Carolina State University.
09:01.587 --> 09:08.639
[SPEAKER_01]: And he said, hey, he held a conference at Little Seminar at the University at North Carolina State University.
09:08.699 --> 09:10.222
[SPEAKER_01]: He was insurance agent.
09:10.622 --> 09:14.108
[SPEAKER_01]: And so I just decided, okay, well, I'll put some money there.
09:14.709 --> 09:16.352
[SPEAKER_01]: I was working at UPS.
09:16.332 --> 09:22.326
[SPEAKER_01]: At the time, and I had $100 a month for the Air Force ROTC, so I was actually making money.
09:22.542 --> 09:32.055
[SPEAKER_01]: Then in real dollars, I was making more then that I was in the military once I went in there because all the taxes and the value of money at the time.
09:32.856 --> 09:38.504
[SPEAKER_01]: So to make a long story short, I want you to think about what you learn from your parents.
09:38.624 --> 09:50.440
[SPEAKER_01]: And what I learned from my parents about money is that given that they had 10 children, I really pecked them on the back and give them a loving hug because I couldn't do that.
09:51.938 --> 09:54.241
[SPEAKER_01]: There was a ball, people is all I can tell you.
09:54.301 --> 09:56.585
[SPEAKER_01]: I couldn't do 10 children, good law it.
09:57.165 --> 10:03.394
[SPEAKER_01]: But I just want to say that everything is possible as long as you give it a chance.
10:04.476 --> 10:13.308
[SPEAKER_01]: And so how it's shaped on my current financial habit, I know how to make money work for me because there's so many different avenues of wish to do it.
10:13.348 --> 10:19.617
[SPEAKER_01]: Now, in fact last night, I was on a webinar with a lady who does a lot with,
10:19.765 --> 10:30.158
[SPEAKER_01]: passive income about reach and it was really amazing and a lot of people were signed up for that program and everything but it's things that you learn over time.
10:30.979 --> 10:38.589
[SPEAKER_01]: So think about how it impacts you from the standpoint of your relationship with your parents and the environment or community you grew up in.
10:39.310 --> 10:42.454
[SPEAKER_01]: Here's the next thing I'm going to talk to you about.
10:43.555 --> 10:49.182
[SPEAKER_01]: Did you ever feel guilty
10:49.921 --> 10:57.031
[SPEAKER_01]: Now, on this particular note, and you all know from wealth category, podcasts, wealth is more than just money.
10:57.051 --> 11:01.918
[SPEAKER_01]: I mean, it's that simple because you have your health.
11:02.399 --> 11:08.869
[SPEAKER_01]: If you have just trillions of dollars and you have poor health, well, that money is not gonna do you any good.
11:09.529 --> 11:17.481
[SPEAKER_01]: You need wealth is all about the health that you have, lifestyle that you have.
11:18.271 --> 11:25.924
[SPEAKER_01]: the type of people that you meet, what you're giving back and legacy to the children your community.
11:26.285 --> 11:35.941
[SPEAKER_01]: So, so, a lot of things wrapped up into, well, I don't feel guilty, I deserve it of wealth because I know that it's not just a money that's the important part of it.
11:36.663 --> 11:42.152
[SPEAKER_01]: And I've worked very hard for every penny that I earned, just to give you an example.
11:42.132 --> 11:45.000
[SPEAKER_01]: And I want you to think about some examples for your life.
11:45.662 --> 11:50.274
[SPEAKER_01]: When I was in my teens, I've worked for a farmer, being another people work for a farmer.
11:50.294 --> 11:55.087
[SPEAKER_01]: He would pick us up that five in the morning, and he would take us to his farm, and we would plan tobacco.
11:55.428 --> 11:56.591
[SPEAKER_01]: And what is piling tobacco?
11:56.611 --> 11:57.373
[SPEAKER_01]: It's going out.
11:57.353 --> 12:13.077
[SPEAKER_01]: on this farm, I mean, these long football field rows of tobacco, and you have to pull from the stock, you have to pull the choice leaves that would go and to be processed in the barn and ultimately sold to a tobacco company.
12:13.698 --> 12:16.442
[SPEAKER_01]: And that's the work I did, and it was hard work.
12:16.422 --> 12:20.066
[SPEAKER_01]: And oftentimes, the leaves would have chemicals.
12:20.126 --> 12:22.549
[SPEAKER_01]: And I mean, chemicals would get into my skin.
12:23.149 --> 12:29.637
[SPEAKER_01]: And when a time for me to get off a work at about 12, I would rest a bit and then go to football practice.
12:29.657 --> 12:31.699
[SPEAKER_01]: And I was actually at football practice sick.
12:32.380 --> 12:33.561
[SPEAKER_01]: And I couldn't figure out why.
12:33.581 --> 12:39.528
[SPEAKER_01]: And they said, well, it's because that tobacco, the chemicals in the notes tobacco is getting into your skin.
12:39.608 --> 12:40.829
[SPEAKER_01]: And that's what's making you sick.
12:40.849 --> 12:46.075
[SPEAKER_01]: So you know what happened next.
12:47.354 --> 12:48.836
[SPEAKER_01]: That's no need for me to get sick.
12:49.196 --> 12:55.284
[SPEAKER_01]: Even though I earned quite a bit of money in that period of time, that's seven hours so that I worked each morning.
12:55.304 --> 13:04.736
[SPEAKER_01]: And I was young, then so I could work all day, but those chemicals that changed my mind in terms of working in that environment.
13:05.057 --> 13:07.920
[SPEAKER_01]: And so I went on and played football and just left it at that.
13:08.161 --> 13:09.282
[SPEAKER_01]: So I want you to think about it.
13:09.482 --> 13:11.946
[SPEAKER_01]: Do you feel guilty or undeserving of wealth?
13:12.106 --> 13:13.007
[SPEAKER_01]: I don't.
13:14.185 --> 13:15.387
[SPEAKER_01]: I have wealth in my life.
13:15.427 --> 13:17.732
[SPEAKER_01]: I have good friendships, good relationships.
13:18.453 --> 13:21.138
[SPEAKER_01]: I want to make a difference in the lives of others.
13:21.579 --> 13:29.815
[SPEAKER_01]: I have a very strong personal relationship with our Creator God and I really do the best I can with.
13:30.537 --> 13:34.061
[SPEAKER_01]: really translated and navigate in life as we know it today.
13:34.121 --> 13:36.303
[SPEAKER_01]: And so I want you to think about that.
13:37.084 --> 13:43.570
[SPEAKER_01]: Now, the next thing we're going to talk about is how it's scarcity thinking I show up in my life or business.
13:44.111 --> 13:49.036
[SPEAKER_01]: Again, how did scarcity thinking show up in my life or business?
13:49.076 --> 13:50.918
[SPEAKER_01]: And I want you to think about this too.
13:51.298 --> 13:55.242
[SPEAKER_01]: Well, from a scarcity standpoint, we didn't have a whole lot, but we had each other.
13:55.643 --> 13:59.987
[SPEAKER_01]: We knew that when Christmas came and our parents had Christmas
13:59.967 --> 14:14.625
[SPEAKER_01]: Other than paying for their mortgage on their house, their utilities, and insurance, and other things, we knew that Christmas was going to be big, and mine, you, all of us, there were, again, 10 children.
14:14.805 --> 14:20.992
[SPEAKER_01]: One passed away at birth, but I still count him and my younger, my brother Eugene.
14:21.753 --> 14:29.282
[SPEAKER_01]: And so what I want to say is that when it comes to scarcity, we did not go hungry.
14:29.718 --> 14:37.969
[SPEAKER_01]: Because we had a garden in the yard, we did not really want for anything because we again have the store.
14:38.009 --> 14:50.646
[SPEAKER_01]: So when it came to eating, when you're young, the main thing is that you eat in the sense our parents had a store, we had candy.
14:50.626 --> 14:53.811
[SPEAKER_01]: For five years so I could get what I wanted to get.
14:53.851 --> 14:56.075
[SPEAKER_01]: I didn't want to think anything as far as I was concerned.
14:56.195 --> 14:58.559
[SPEAKER_01]: I was a button that I was living in a funded life.
14:59.401 --> 15:02.446
[SPEAKER_01]: So again, I want you to think about that.
15:03.187 --> 15:04.209
[SPEAKER_01]: Scared thinking.
15:05.051 --> 15:10.660
[SPEAKER_01]: I guess when we look at scarcity thinking and if we don't know and don't have a good relationship with money,
15:11.146 --> 15:15.430
[SPEAKER_01]: All the money we earn, it will burn a hole and how pockets are in our purse.
15:15.870 --> 15:24.418
[SPEAKER_01]: And so we have to really be cognizant of the fact that money is a tool to help you help other, help yourself and help others.
15:25.078 --> 15:32.645
[SPEAKER_01]: And it's not so much that we spin it all, but we need, of course, put some money back and put some of that money back to save it.
15:33.186 --> 15:39.111
[SPEAKER_01]: Once we save some, we invest it, and then we come into that passive income that we need.
15:39.378 --> 15:41.621
[SPEAKER_01]: And of course, leading up to retirement.
15:41.801 --> 15:45.246
[SPEAKER_01]: And I've been retired from the Air Force for 23 years now.
15:45.606 --> 15:47.689
[SPEAKER_01]: So I definitely know how to manage life.
15:48.430 --> 15:52.776
[SPEAKER_01]: And for the rest of my life, I will see for retirement pay from the military.
15:53.617 --> 15:57.923
[SPEAKER_01]: Of course, the Social Security, of course, disability pay, different things like that.
15:58.223 --> 16:00.687
[SPEAKER_01]: Different companies are work for stocks and everything.
16:01.328 --> 16:02.709
[SPEAKER_01]: So and then insurance.
16:02.749 --> 16:09.098
[SPEAKER_01]: So when you start looking at that from a scarce standpoint,
16:09.331 --> 16:18.361
[SPEAKER_01]: parents, but in terms of their age, my life style is a lot better only because I have more opportunities.
16:18.421 --> 16:20.203
[SPEAKER_01]: That's the only difference.
16:20.223 --> 16:21.985
[SPEAKER_01]: And I didn't have 10 kids.
16:22.065 --> 16:23.487
[SPEAKER_01]: I have two children.
16:24.668 --> 16:25.769
[SPEAKER_01]: And that helps as well.
16:26.290 --> 16:33.718
[SPEAKER_01]: So, when it comes to business, I really invest a lot in different experts programs.
16:33.698 --> 16:50.526
[SPEAKER_01]: and pretty soon I'll be doing going through a webinar series with an amazing, amazing marketing expert and then I also have some things I'm doing with the Facebook groups and also with this podcast, I'm actually going through some podcast coaching now to help make it.
16:50.506 --> 17:00.360
[SPEAKER_01]: a better and more profitable that I can work with people through that and so many other things that I'm doing and I'm truly, truly enjoying my journey.
17:01.041 --> 17:09.974
[SPEAKER_01]: And here's the next thing I want to talk about is what was a turning point when you realized your beliefs, not your bank account, needed to change first.
17:10.454 --> 17:13.098
[SPEAKER_01]: Now, I'll preface this to each and every one of you.
17:13.359 --> 17:18.606
[SPEAKER_01]: I'm reading this question because I really
17:19.210 --> 17:27.062
[SPEAKER_01]: When you look at the mirror again, what was a turning point when you realized your beliefs, not your bank account needed to change first?
17:27.422 --> 17:45.049
[SPEAKER_01]: Well, first of all, we all know that in the year, a pivotal year to me was that year when we had the financial downturn in that 2007 to maybe 2009, a time frame, and people were losing their houses, they were losing their jobs,
17:45.350 --> 17:46.973
[SPEAKER_01]: they were losing their minds.
17:47.453 --> 17:52.962
[SPEAKER_01]: And you had millionaires standing in food bank aligned because they had just lost everything.
17:52.982 --> 17:55.005
[SPEAKER_01]: And market was turned upside down.
17:55.085 --> 18:01.736
[SPEAKER_01]: And it was a point in period and time when I was actually doing live TV at the local TV station in Washington, DC.
18:02.137 --> 18:05.502
[SPEAKER_01]: And I was talking about ways of how people could avoid.
18:05.482 --> 18:15.673
[SPEAKER_01]: losing their home to mortgage foreclosure, and then the other specialty I had was what should people do if they were seen with summons from the judge because they couldn't afford to pay their bills.
18:15.693 --> 18:18.356
[SPEAKER_01]: That was the second specialty error that I had.
18:18.777 --> 18:34.594
[SPEAKER_01]: So I go in a lot from that experience, those live TV interviews, and it really helped a lot of people because after I was interviewed and individually, I would also answer calls from residents and the metropolitan Washington DC area.
18:34.574 --> 18:48.178
[SPEAKER_01]: So, in terms of understanding what needed to change first, for me, it really came down to just common sense.
18:48.438 --> 18:55.350
[SPEAKER_01]: It came down to get out a note pad, a paper, put it in your
18:55.955 --> 19:19.313
[SPEAKER_01]: assets have much you earn and then on the on the left side on the right side put down your expenses for me was the mortgage the utilities the medical care insurance I mean just everything car payment I no longer have car payment anything like that and then of course you have credit cards getting those credit card.
19:19.647 --> 19:23.917
[SPEAKER_01]: balance is getting them to zero and and different things such as that.
19:24.398 --> 19:33.117
[SPEAKER_01]: And so when it came down to changing my beliefs, it was that you have to get fundamental you have to get basic.
19:33.282 --> 19:41.092
[SPEAKER_01]: I found my own taxes, so from that standpoint, it gives me a birds eye view of all of my income and all of my expenses.
19:41.592 --> 19:53.126
[SPEAKER_01]: After all, I had worked into accounting department, and I was a budget officer in the Air Force, so those things for me was pretty normal, but I asked you this question, what is it like for you?
19:53.687 --> 19:58.513
[SPEAKER_01]: Do you know every pendant that you spend, every dime that you earn?
19:58.493 --> 20:04.428
[SPEAKER_01]: And these are things that we should know and work from there, so that's my perspective.
20:04.969 --> 20:13.650
[SPEAKER_01]: And so what the next issue I want to talk about is what steps did I take to start reprogram my money, my step?
20:13.630 --> 20:29.850
[SPEAKER_01]: Well, for me, it was a little bit easier because I had been working since the age of 10 and working in the family store and hell on the cash register and writing checks to the vendors and then going on the college and going through all their counting on my God ahead.
20:30.218 --> 20:38.893
[SPEAKER_01]: When I graduated from college, I had over 40 hours of accounting and enough to sit for the certified public account position certification.
20:39.615 --> 20:52.277
[SPEAKER_01]: So from that standpoint, from my mind, money mindset on my personal side of things, and I want you to think about the personal side of things for you, it is just to be grounded in financial intelligence.
20:52.898 --> 21:07.920
[SPEAKER_01]: Understanding that assets and vestments and then legacy, what legacy I want to pass on to my family when that day when I transition so that's something we all have to give consideration to.
21:07.900 --> 21:18.215
[SPEAKER_01]: So the next thing I want to talk about as we press forward is how the shifting from a consumer to an investorize that shaped the financial confidence.
21:18.816 --> 21:27.428
[SPEAKER_01]: Well, this is just a wonderful, wonderful question and consumers we live in a consumer economy here in the United States.
21:27.408 --> 21:42.836
[SPEAKER_01]: And we can tell by watching television, we've marketed it with things that marked to us this, that and the other, meaning a new car, soda, pizza, you name it, clothing, everything is being marketed to us.
21:42.856 --> 21:44.960
[SPEAKER_01]: So we have to take a step back in this state.
21:45.721 --> 21:47.445
[SPEAKER_01]: What do we really need in life?
21:48.226 --> 21:50.230
[SPEAKER_01]: Versus what we really want in life.
21:50.330 --> 21:51.492
[SPEAKER_01]: We want it all.
21:52.096 --> 21:55.923
[SPEAKER_01]: but we just need to focus in on what we really want.
21:56.544 --> 22:00.571
[SPEAKER_01]: Then assess the people, excuse me, we need to focus in on what we really need.
22:01.272 --> 22:06.281
[SPEAKER_01]: And oftentimes, people just think about, hey, I'd like to see this.
22:06.402 --> 22:08.405
[SPEAKER_01]: I'd like to see that, are there friends by somewhere?
22:08.686 --> 22:09.627
[SPEAKER_01]: Well, I want to do this.
22:09.668 --> 22:10.850
[SPEAKER_01]: I want to buy a house like that.
22:10.870 --> 22:12.232
[SPEAKER_01]: I want to buy a car like that.
22:12.252 --> 22:13.775
[SPEAKER_01]: But that's not the important part.
22:13.815 --> 22:15.538
[SPEAKER_01]: The important part is,
22:15.518 --> 22:22.169
[SPEAKER_01]: You need a roof over your head, you need some food, and you need to get some health care if you need that.
22:22.770 --> 22:24.793
[SPEAKER_01]: And then everything else would take care of yourself.
22:24.973 --> 22:32.145
[SPEAKER_01]: Everything beyond that is really a bonus because we want things that we really don't need.
22:32.165 --> 22:34.509
[SPEAKER_01]: So here comes my quote that I'd love to share.
22:35.270 --> 22:39.477
[SPEAKER_01]: Rich people live like they're poor and poor people live like they're rich.
22:40.358 --> 22:42.201
[SPEAKER_01]: You know the difference between the two.
22:43.261 --> 22:45.844
[SPEAKER_01]: So going from a consumer to investment.
22:46.285 --> 22:58.180
[SPEAKER_01]: So for me, I was in the Air Force for eight years as a captain and I separated from the Air Force because I had been really researched by number of different corporations.
22:58.961 --> 23:05.208
[SPEAKER_01]: And I ended up deciding to depart the Air Force and I went to work for mobile all company.
23:05.248 --> 23:12.137
[SPEAKER_01]: They recruited me there as a part of their professional team to put a cost analysis background that I had at the time.
23:12.961 --> 23:18.688
[SPEAKER_01]: and I purchased my first house, so boom, there's my first big investment.
23:18.708 --> 23:31.904
[SPEAKER_01]: And then two years later, there was this recruitment going on behind the door, behind the curtains from the Air Force again, hey, we want you to come back to active duty and I thought about it, so what would I be station?
23:32.204 --> 23:36.149
[SPEAKER_01]: They said the Pentagon, who the Pentagon?
23:36.169 --> 23:41.095
[SPEAKER_01]: Oh yeah, you know I returned to the Air Force and then I bought another house.
23:42.340 --> 23:54.119
[SPEAKER_01]: So I had two houses, so I at least went out in Texas for about 12 years and then I purchased the current house that I'm living in now and that's part of my investment transformation.
23:54.580 --> 24:06.559
[SPEAKER_01]: So I went from a consumer to an investor with that mindset and that really helped my financial confidence and what I mean about that is the fact that when you look at
24:06.539 --> 24:21.713
[SPEAKER_01]: I went from renting to own in a house, it really made a tremendous difference, and so thing I want to say to you is, where are you in that position of going from a consumer to investor?
24:22.756 --> 24:25.939
[SPEAKER_01]: Take good note of it because it can help you in the future.
24:26.480 --> 24:33.887
[SPEAKER_01]: So the next thing I'm going to talk about right now is what role did self-leadership and discipline play in my financial transformation?
24:34.548 --> 24:42.916
[SPEAKER_01]: Well, I really just decided that I needed to lead myself first, and that means being self-accountability.
24:43.797 --> 24:52.746
[SPEAKER_01]: I had to also open up my mind about the fact that myself awareness, where did I see myself five years
24:53.249 --> 25:08.254
[SPEAKER_01]: I have the self awareness, I have the self accountability, and then I also have to look at my emotional intelligence and where did I want to be, what type of emotions that I want to have about the money.
25:08.487 --> 25:11.551
[SPEAKER_01]: And money really is an inevitable thing.
25:11.591 --> 25:25.991
[SPEAKER_01]: It's just a valuation, a price someone puts on it like the price that in the worth of what I receive from a retirement pay and different things such as that income sources of business, et cetera.
25:26.352 --> 25:34.984
[SPEAKER_01]: Contracts I've reached with different companies to go to the realm of the world and around the country.
25:35.538 --> 25:40.226
[SPEAKER_01]: And so myself, leadership took me into that direction in the path that I wanted to be on.
25:40.266 --> 25:52.446
[SPEAKER_01]: And once I could lead myself, get my awareness, my accountability, and myself, we're also getting that into line that then I could lead, but the money that I had and money wants you to lead it.
25:52.767 --> 25:54.590
[SPEAKER_01]: So don't disappoint money.
25:55.191 --> 25:56.413
[SPEAKER_01]: I mean, that's why I was there.
25:57.094 --> 26:01.782
[SPEAKER_01]: And then when we look at the discipline,
26:01.947 --> 26:14.981
[SPEAKER_01]: When it comes to money, we definitely have to be disciplined because there are a lot of things that people want, we're, again, we're offered things today that we would never offer before because of this cell phone.
26:15.562 --> 26:27.195
[SPEAKER_01]: And so when we look at social media and everything, whether it's Instagram, whether it's LinkedIn, whether it's TikTok, whatever it happens to be, people are marketing and advertising.
26:27.513 --> 26:33.509
[SPEAKER_01]: all kinds of products and services and consultations out there.
26:33.870 --> 26:38.702
[SPEAKER_01]: And so we have to really be disciplined and rain in any overspending.
26:38.722 --> 26:40.527
[SPEAKER_01]: I'll start with myself.
26:42.059 --> 26:54.194
[SPEAKER_01]: Okay, so the last question is this, and then I'm going to wrap this up, is what's one belief about money that I hold today that completely contrasts the one that I held back years ago?
26:54.595 --> 26:55.957
[SPEAKER_01]: So I'm a preface this to you.
26:56.858 --> 27:04.187
[SPEAKER_01]: What's one belief about money you hold today that completely contrasts the one that you had back years ago?
27:04.808 --> 27:11.897
[SPEAKER_01]: Well, for me, the thing about money is that
27:12.164 --> 27:19.912
[SPEAKER_01]: to a creator, and I've taken words, and words of powerful, and I've turned those words into speeches.
27:20.933 --> 27:22.996
[SPEAKER_01]: I've turned them into keynote speeches.
27:23.096 --> 27:25.458
[SPEAKER_01]: I've turned those into virtual speaking.
27:25.819 --> 27:29.603
[SPEAKER_01]: I've turned it into training, and then I've also written books.
27:29.623 --> 27:35.929
[SPEAKER_01]: And so I've gone from being a consumer, wholly just a consumer, to become an a creator.
27:35.969 --> 27:41.175
[SPEAKER_01]: And I haven't come up, and hey, this podcast right here,
27:41.712 --> 27:43.217
[SPEAKER_01]: That's a part of
27:43.535 --> 27:55.731
[SPEAKER_01]: My beliefs about money, that with my podcasts, I can change a lives, I can change individuals, I can change communities because the podcast goes all over the world.
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[SPEAKER_01]: And I was looking at statistics the other day and I'm all in the United States, of course, in the UK, in Europe, in Asia, in South America, of course, in the great country of Canada,
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[SPEAKER_01]: And I'm just really honored to be able to work with some amazing people in our border countries and also in South America.
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[SPEAKER_01]: We have some really great countries there and great people there.
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[SPEAKER_01]: And I've traveled there before.
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[SPEAKER_01]: So the thing I want to say is that
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[SPEAKER_01]: When it looks at beliefs that I hold today is that it's totally didn't have those opportunities when I was growing up and so it does take time and so the thing I want to look at what I used to be when I didn't have a pot that cook in, there was a transformation.
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[SPEAKER_01]: Uh, some consideration, I want you to look at it, could have been a mentor or a financial setback or a mindset course or a moment of awareness and I think for me, the moment of awareness was being able to see that
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[SPEAKER_01]: When I was in the prime of my military career of which I served 22 years, I really worked for a member of Congress who's a multi-millionaire at his father was as well.
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[SPEAKER_01]: And I met Mickey Mota, they had Mickey Mota.
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[SPEAKER_01]: And he was a multi-millionist.
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[SPEAKER_01]: I was meeting people that were just, I was in the same spaces they were.
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[SPEAKER_01]: So I found myself saying, well, if that's the case, and also my earning should be in that neighborhood as well.
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[SPEAKER_01]: Not that I was comparing, but I had the same level into lack and ability as the next person did.
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[SPEAKER_01]: And so that's what was the awareness of the moment of awareness for me.
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[SPEAKER_01]: And then how that self-lettership, it was a key to transforming what I earn, managed, and invested money.
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[SPEAKER_01]: And I still invest money to this day.
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[SPEAKER_01]: And then when it comes to actionable takeaways that can apply immediately awareness, we want to look at and identify the top three money stories that you tell yourself.
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[SPEAKER_01]: And here my three, my three are,
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[SPEAKER_01]: is that I have the ability to tap into the abundance that exists in the universe.
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[SPEAKER_01]: I have a transformation, a money story that, where I transition from making no money to some money and then receiving significant amounts of money over the course of my lifetime.
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[SPEAKER_01]: And then the other money story is, is that money can help people.
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[SPEAKER_01]: and the more money I earn, the more people I can help.
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[SPEAKER_01]: And then when it comes to an actual take away from a challenge, I ask you this, if those stories are true or inherited, my stories are true, and I know that yours are as well.
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[SPEAKER_01]: And then I replaced it, and you can replace it with creating empowering,
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[SPEAKER_01]: money, beliefs that align with your goals.
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[SPEAKER_01]: So if you have a goal to live in a gay-to-community, you can achieve that goal as long as you put that work in.
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[SPEAKER_01]: And then when you look at what type of monetary legacy you want to live, if you want to be able to live your family, your children, and inheritance so that they won't have to struggle.
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[SPEAKER_01]: Because we know this is struggle today.
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[SPEAKER_01]: When we look at
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[SPEAKER_01]: our federal employees who are out there one day they have a mortgage plan for student loans in the next day they don't have it anymore and the impact that that has on them and I wish that on no one absolutely no one should go through that but here we are.
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[SPEAKER_01]: So in closing what I have to say is this, when I changed
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[SPEAKER_01]: how I've thought about money, everything else changed.
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[SPEAKER_01]: My opportunities, my confidence, and my results.
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[SPEAKER_01]: And I want you to remember this.
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[SPEAKER_01]: Money amplifies who you are.
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[SPEAKER_01]: If you're driven, generous, and generosity is very important and growth-minded, wealth will simply magnify that.
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[SPEAKER_01]: And your financial future isn't determined by your past is really written by your next decision.
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[SPEAKER_01]: So choose to tap into a binders.
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[SPEAKER_01]: Now, my call to action for you for this episode, 350 is this, if this episode resonate with you, take a moment today to write down your top three beliefs about money and challenge them.
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[SPEAKER_01]: Then share your biggest insight from this episode by tagging me at Paul Vance.
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[SPEAKER_01]: Tagging me at Paul Lons van and using a hashtag, pound, wealth is more than money.
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[SPEAKER_01]: And don't forget to subscribe, rate, and review the wealth and Academy podcast on Apple Podcast because every share helps someone else break free from their limiting beliefs and start building for wealth.
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[SPEAKER_01]: And I want you to know that it is an honor and a duty to have share this episode at the end of 2015.
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[SPEAKER_01]: If you go to Apple Podcasts, provide it five star rating and a review and I really appreciate you and I will see you on the next episode of Wellf Academy Podcasts.
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[SPEAKER_01]: Have a great day because you deserve it.
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[SPEAKER_01]: And I do too, have a great day.
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[SPEAKER_00]: Thank you for listening to this episode with Paul and his guest.
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[SPEAKER_00]: I hope you enjoyed this episode and Paul requests that you rate and review this episode and others on Apple Podcasts and wherever you listen to podcasts.
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[SPEAKER_00]: View all wealth Academy podcast episodes at www.wealthacademypodcast.com
