These 7 Money Habits Are Keeping You POOR ~ Leila Hormozi

ask you to do is to write these down and then ask yourself, which of these habits and beliefs do you hold that you need to break? The first habit that I see a lot of is sacrificing tomorrow for today.

This is a habit that people have in a lot of different areas of their life.

It just happens to come out in money, stealing money from future you to give it to present you.

That's what you're doing over and over again.

And it creates people living in the cycle of typically paycheck to paycheck because they're constantly spending money from their future self.

I had a woman in one of my companies.

She had a terrible habit of buying bags and she had more designer bags than myself and not as much money as me.

Whether she got a raise, she got more commissions, no matter what happened, it didn't translate into her saving more money.

She actually just bought more bags.

That's how the brain works.

You're just going to find more things to spend the money on.

And so the way you break this is by mastering impulse control.

OK, we're always going to have two sides to our brain.

There's the logic side and there is the emotional driven impulse side.

And a lot of people that have bad money habits just have bad impulse control.

Just like if you wanted to lose weight, you have to tolerate being hungry, tolerate not spending as much money, not getting the thing you want, not acting upon desire.

Desire does not equate to decision.

Just because you want something doesn't mean you should do anything about it.

That is the animalistic part of your brain that has no logical conditioning whatsoever.

You need to take massive action against it to completely change your behavior.

You have to do something that is so opposed to your current day behavior that you change your beliefs about yourself.

Because right now, the reason you're stuck in the cycle is you don't believe in yourself.