Oct 1, 2021
There are 7 common money lies we tell ourselves that drain your wallet, delay your retirement, and place unnecessary stress on your shoulders. Even financial advisors believe some of these money lies.
But once you’re aware of these 7 dangerous money lies, you can prevent them from sabotaging your financial independence.
In this episode, you’ll discover the 7 money lies we all tell ourselves that blow a whole in our wallets. And how to avoid them so you can retire sooner. Listen to the episode now.
Show Highlights Include:
- How not talking about money with your friends and family reinforce your worst financial habits (4:34)
- 3 bone-headed rationalizations we use to convince ourselves to buy something we can’t afford (7:59)
- The counterintuitive way thinking you have strong financial willpower makes you spend more on impulse purchases (10:40)
- The reason why you waste more money on stuff you don’t need when you’re stressed (11:25)
- How using a credit card costs you 10% more than using cash (even without paying interest) (12:14)
- Why procrastination eats more wealth every year than even the worst stock picks (13:03)
- Warren Buffet’s “Spend After Saving” secret that’s helped him become one of the wealthiest investors of all time (14:03)
- Why compound interest is the 8th wonder of the world (and how to use your money to make money without working for it) (16:55)
- How to use your greed to make smarter and more profitable financial decisions (21:38)
- The 7 most common money lies everyone believes that drains your wallet and delays your retirement (22:31)
If you want to download the Summer 2021 Playbook mentioned during this show, head to https://onecapital.com/ and click on the “Idea Lab” tab to download the report for free.
To schedule your complimentary retirement track review, head to https://onecapitalmanagement.com. You can also call us at 805-410-5454 or text the word ‘TRACK’ and we’ll reach out to you.
References/Sources:
Kiplinger - Ian Maxwell: https://www.kiplinger.com/personal-finance/603162/how-are-you-lying-to-yourself-about-money