Todd PolkeInvestment Strategist l Wealth Coach l Speaker, Todd Polke · Investment Strategist l Helping Investors and Business Owners grow their Wealth Faster

Your financial life is a business you have to prioritize. #shorts #australia #finance #business

31 May 2024 · 1 min

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In this short video, the speaker introduces the concept of a "money night" – a regular, dedicated session to review and manage personal finances. Drawing on experience working with thousands of people, he observes that most individuals only engage with their money at three reactive moments: when a bill is due, during tax season, or when a financial crisis occurs. This reactive approach means they lack control and fail to treat their finances with respect. The speaker argues that the key mindset shift is to view one's financial life as a business rather than a hobby, because treating it like a hobby yields hobby‑level results. By instituting a consistent money night and adopting a business‑like perspective, individuals can gain proactive control over their finances.

Chapters

So what I want to talk to you about is all about something that I call the money night. What I tended to find in my own portfolio, and after working with many, many, many thousands and tens of thousands of people over the year, is that people would tend to get to their money in usually about one of a few different times. A, when there's a bill to pay. B, when it's tax time. Or C, when it's too late. And so you are not in control of your finances. Right? You are not treating your money with respect, you're not actually treating your financial life like a business, and this is one of the biggest mindset shifts that you have to make is that your financial life is a business and you've got to treat it like that. If you treat it like a hobby, then guess what? You're only going to expect hobby-like results.