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Why Everyone Is Broke (In A Rich Country)
Manage episode 411945041 series 3368904
Content provided by Mel H Abraham, CPA, CVA, ASA, Mel H Abraham, CPA, CVA, and ASA. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Mel H Abraham, CPA, CVA, ASA, Mel H Abraham, CPA, CVA, and ASA or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Feeling financially strained in a wealthy nation? It's not just about income; it's how you manage it! In this episode, I explore why many struggle despite decent earnings. From paycheck-to-paycheck living to debt acceptance and chasing excess, I delve into cultural and psychological factors fueling financial woes. Tune in to understand common pitfalls thinning our wallets.
IN TODAY’S EPISODE, I DISCUSS:
- The psychological beliefs about money that lead to financial hardship
- The critical difference between income and money management
- How societal norms and behaviors encourage financial struggle and debt accumulation
RECOMMENDED EPISODES FOR YOU
If you liked this episode, you'll love these ones:
- Create a Money Machine for Financial Freedom
- My Greatest Money Lesson Came from a 6-Year Old
- 7 Money Excuses That'll Keep You Broke!
RECOMMENDED VIDEOS FOR YOU
If you liked this video, you'll love these ones:
- Create a Money Machine for Financial Freedom: https://youtu.be/ZXK7bnqrqcw
- My Greatest Money Lesson Came from a 6-Year Old: https://youtu.be/BV1_GM9Ku_M
- 7 Money Excuses That'll Keep You Broke!: https://youtu.be/dMyNonXrxVE
PRE-ORDER MY NEW BOOK:
Building Your Money Machine: How to Get Your Money to Work Harder For You Than You Did For It!
The key to building the life you desire and deserve is to build your Money Machine—a powerful system designed to generate income that’s no longer tied to your work or efforts. This step-by-step guide goes beyond the general idea of personal finance and wealth creation and reveals the holistic approach to transforming your relationship with money to allow you to enjoy financial freedom and peace of mind.
TAKE THE FINANCIAL FREEDOM QUIZ:
Take this free quiz to see where you are on the path to financial freedom and what your next steps are to move you to a new financial destiny at http://www.YourFinancialFreedomQuiz.com
OTHER RESOURCES:
7-Day Money Plan Workshop: https://www.TheMoneyPlanWorkshop.com
Affluent Entrepreneurs Private Facebook Group https://www.melabraham.com/group/
CONNECT WITH ME:
Website: MelAbraham.com
YouTube: MelAbraham.com/tube
Instagram (@melabraham9): MelAbraham.com/ig
Facebook Group: MelAbraham.com/group/
Chapters
1. Financial education and training prevent debt struggles. (00:00:00)
2. Allocate every dollar before it's earned. (00:09:18)
3. External motivation drives societal consumption and decisions. (00:11:23)
4. Exchanging future for present pleasures, risking consequences. (00:15:59)
5. Reverse reliance on easy payment methods. Add friction. (00:18:40)
6. Looking forward to our next meeting. (00:21:05)
333 episodes
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