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Welcome back to Building Billions. These

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five habits are making you broke.

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I'm Natalie Dawson. I am so excited

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to talk to you about this particular topic, because

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I see business owners and

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team members of mine making these mistakes,

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and it just kills me because

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what I want for you, what I want for them

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is to have financial security. I want them

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to have financial freedom. I want them to be

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excited and passionate and

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not feeling the worry and stress of

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living paycheck to paycheck. And so

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when you're making decisions about

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where to spend your money, if you could

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make better decisions so you didn't have those worries,

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wouldn't you live a better life? There

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are lots of things that people do

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that they don't even know that they're doing, that

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are keeping them broke. And

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I don't want you to be broke. You don't want to be broke. So

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let's just handle these things. And if you

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stick around to the end, I might share

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an additional two, because

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I think I'm going to get creative on this one. First

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thing that is keeping you broke. Spending

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your money on instant

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pleasures. I

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can't tell you how many times I have

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heard of my team members going into

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debt in order to take

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a vacation when they are making

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$70,000 a year. That

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makes no sense. If you

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cannot afford to go on a vacation

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because you're making $70,000 a year

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and you aren't quite able to fund the vacation

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that you want to have, don't

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go in debt for it. Just don't

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go on the vacation. Now, don't get

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me wrong, I love the cars. I

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love the shiny things. Put a

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handbag in front of me. I'm all about it.

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However, these instant pleasures,

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these moments of, oh, I just really want

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to have this experience. People tell you

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online constantly that you'll

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never be this young again. It is all

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bullshit. And this rhetoric that is

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feeding into let's continue to have

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instant pleasures. Let's go on trips

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that we can't afford, let's pay

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for skin care that we can't afford

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and makeup that we can't afford. And

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I'm just going to rack up all of this debt.

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Don't do that. There's no need

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to spend the money on the instant pleasure. If you are

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going to go into debt over anything,

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go into debt over learning

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and getting education and.

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Investing in courses or mentorships. That's

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the type of debt I'm okay with. But any

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other type of debt for some

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instant gratification, a handbag

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or a pair of pants or something

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to keep up with the Joneses on

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social media, stop doing

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that. That is taking you in the wrong

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direction. That is a habit. That might

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just be something that you have to recognize. Oh,

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I like nice things. That's

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the problem I have. I like nice things. Okay,

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great. Now we at least know that you like nice things. What

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are we going to do about this? Well, we're no longer

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just going to give in to this desire that we have

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just because we have the desire. That's

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not how you create wealth. That's not how you

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don't end up living paycheck to paycheck. So

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no more of that. The next piece

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is a little hard to swallow, but

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we just have to talk about this. You

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cannot hang out with losers.

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Now, you might think, Natalie, I don't hang out with losers.

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Of course, that sounds lame. Like, why

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would I want to hang out with losers? You just might not think

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that the people that you're hanging out with are categorized

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as losers. But I have a feeling that if

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they aren't supporting you in your goals,

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if they aren't making the money that you

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want to be making, if they aren't

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cheering you on and pushing you

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and holding you accountable to the goals

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that you have and to the person that you want to be.

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From my definition, they are

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losers. Now, they might actually be a really

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great time. That's the problem with losers. The real

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kind of losers. The problem with the real kind

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of losers is they're

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probably a really fun hang.

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You probably get to go do cool things with them

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and they always have something going on. Maybe they're talking

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about drama or gossip. That's

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great for who you once

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were, but who you need

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to become and who you want to become

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is not enlightenment any longer. You cannot

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continue to hang out with people who do not have the same

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financial goals as you, and expect that

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you are going to hit your financial targets.

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I think there's a famous saying, I might

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just be making this up, but it's like, show

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me five broke, broke people

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and you'll be the sixth.

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You get what I'm saying? It's like you hang around five

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people who don't have money. You will be the sixth person

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that does not have money. So if you

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are really serious about your financial targets, you got to get

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away from people who

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are not taking their financial targets seriously

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and start spending time with people who are

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taking their financial targets seriously so

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that your environment supports what your

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goal is. You're no longer okay with being

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broke. Okay, great. You're no longer okay

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with hanging out with other people who are okay

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with you being broke. If you're hanging out with

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me, I'm not okay with you being broke. I'm

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not okay with you spending money on shit

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that you don't have the money to afford

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to spend money on. We're not doing that in this

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relationship, and you probably need

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a different wake up call for

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a different type of environment that would be conducive

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to you actually hitting your targets. This next

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habit is costing you

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a lot. You, every

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morning are currently opening

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this up and checking

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social media. The

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correct habit for getting to

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your financial targets would be

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opening this up and before checking

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social media, checking

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your bank account. If you

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got in the habit every single day of actually

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looking at how much money am I making?

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Where am I spending money? You

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would force yourself to be confronting

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the ways that you are wasting money, and

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more so than just managing your expenses

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the way that your income is

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continuing to look like this. If your income

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looks like this, if you're making the same amount of money month

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over month over month, how are you gonna hit your financial targets

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you need to be focused on? Okay, I'm

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going to accept reality that my income looks

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like this, but my target is for my

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income to go up. So what am I doing today

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to increase my income? You

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should ask yourself that every morning when you're looking at

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your bank account. What

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am I doing today to increase

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my income instead of using

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social media as a distraction,

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this would be my next tip. How

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do you use it to make more income?

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There has never been a better time

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to be somebody with an

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idea. In

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the planet. There's never, ever, ever

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been a better time because you can quite literally

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have an idea, put your idea

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on the internet, promote your idea

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all without talking to any other person.

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There are no shortage of tools

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and apps and ways to actually

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make more money to promote other people's

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products, to create your own products. And

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the habit that I see people getting into is not just using

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social media as a distraction from their money problem,

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but they're using social media

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to connect with their friends,

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or really to just watch other people's

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lives that they find interesting. Instead

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of using social media to make money,

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social media is there for

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you to make money. You should not be thinking of social

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media as a place for you to just hang out

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and catch up on things. It's not

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entertainment. It shouldn't be entertainment.

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If you're serious about your financial targets, use

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the tools that you have. These tools never

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existed. YouTube, Instagram

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x LinkedIn.

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All of these places have people

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who are just watching

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other people make recommendations

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and sell things and promote

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things. So why don't you actually

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hop on that side of the social

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media train, hop on that

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side of the content creation and doing

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something productive and using it instead

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of posting the once a

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month selfie with your friends

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out at the bar, because you

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think that your high school friends would be judgmental.

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If you pushing a product or selling something,

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or promoting yourself. Forget your high school friends.

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Social media isn't for your high school friends.

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Social media is for you to get known and

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a broke habit. A broke mindset

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is thinking that you're just going to be used

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by these platforms. Stop being used

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by the platforms and use them

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to your advantage to get ahead.

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The next habit that we have to get

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you off of in order for you

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to not be broke, is

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being afraid of

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failure and saying no.

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When opportunities do arise,

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when you have an opportunity to

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meet somebody new, to follow

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up with somebody, to go

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get lunch or coffee with somebody after a

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networking event, when you have any opportunity

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that feels uncomfortable, that you don't

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really want to show up to, you're not excited about

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it. You don't want to take your phone out

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and start recording a video on social media and

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hitting posts because you're afraid

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of what somebody is going to think. That habit

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is going to hold you back because it

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is a habit. The good news

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about this habit is you just get to retrain

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this one, because you can also create

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a habit of always saying yes

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when you are uncomfortable, recognizing

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that this feeling sucks and you

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have to go through this experience, but

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it's okay because you're going to make it

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on the other side. So what if the coffee

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was awkward? Or if the

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networker was just like, weird

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and you didn't meet anybody? That was

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life changing. Just the fact of you saying

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yes and showing up is getting you

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to rebuild this habit of saying yes

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to opportunities. Not all opportunities

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are going to be right opportunities for you, but

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this habit that you have of holding yourself back

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and fearing what could happen

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is the thing that's going to be the problem, because

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you're never going to get in the room, the one

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right room out of the ten wrong ones, that you have

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to show up because you didn't show up to any of the

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rooms at all. I'll never

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forget when I was 23 years old

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and I got invited on this

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trip where I knew nobody,

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and I sat out in the car

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while we were waiting for the

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airplane to get ready

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for us. And I was sitting out in the car and I

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was like, I don't want to do this. I don't know anybody.

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What am I doing? I'm going to walk in this room and I'm going to introduce

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myself, and what am I going to say about myself? And

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I felt so uncomfortable. And

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I walked into the room, met

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somebody was standing there awkwardly

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because I didn't have any friends and everybody else already

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knew each other. And guess what?

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That particular event I

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didn't have any life changing connections

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made. I felt very uncomfortable

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and it wasn't

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for me. But it was part of growing

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this muscle that I now have

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where I'm going to show up to something, even though

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it's uncomfortable, and even though it's awkward

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because I know that it has the potential

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to get me a little bit closer to my goal.

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And if it's going to get me a little bit closer and I can

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get in the habit of getting a little bit closer,

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I'm going to get closer than if I just say

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no to those opportunities altogether.