Money is such a taboo topic, isn't it? Yet, it holds immense power in shaping our lives. Buckle up as we journey together through my personal story of shifting from a scarcity mindset to one of abundance. Learn how I turned the inherited mantras of money being the root of all evil to viewing money as a tool for creating abundance and happiness. Get ready to challenge the norms and step into prosperity's encouraging embrace.
Have you ever wondered how your beliefs about money can shape your financial success? Allow me to enlighten you as I go down memory lane, recounting the countless times I braved the odds to unlearn the negative money mantras ingrained in me. Not only do we confront the misconceptions about wealth, but we also explore the power of asking the right financial questions and investing in personal growth. Brace yourselves as we debunk the age-old myth that money is the root of all evil and laugh together at a hilarious story about waste not, want not.
As we move towards the end, we discuss the generational impact of our money mindset, emphasizing the importance of passing on positive money beliefs to our children. We explore the power of a positive money mindset and its impact on financial success, challenging the outdated beliefs that nothing should be wasted. More than just another episode, this is a call to action. I challenge you to replace your negative money mantras with positive ones and welcome abundance into your life. Are you ready to alter your money mindset and create a legacy of wealth for future generations?
Welcome to the Social Media Influencer podcast. I'm Jenny Peterson, a stay-at-home mom of three turned six-figure social media influencer, turned CEO of my own seven-figure product-based business. I'm obsessed with all things online business, online marketing, influencer marketing, affiliate marketing and social selling. Why am I spilling all my secrets? Because I believe when we all do better, we all do better. Let's dive in. Well, hey there, my beautiful friend. Welcome back to another episode. Today we are talking about money. Did you cringe a little bit? I don't know about you, but I was raised never to talk about money. Why is talking about money such a taboo topic in our society? How are we supposed to learn about money if we can't even talk about it? How are we supposed to learn about how to create wealth and abundance, what to do with the money once we get it, how to multiply money, if we can't even talk about it? It doesn't make a lick of sense. The truth is we live on an economic planet. Money is important. We all need money. We deal with money every single day. So today we are breaking all the rules and we are talking about money. I used to have a very negative money mindset and I have been able to completely change my mindset around. So I want to share with you today how I did that Selfishly. I also want to record this podcast episode for my posterity, for my children, my children's children and generations to come, because these lessons I wish I had learned earlier in life. It's crazy we go to school from ages 5 to 18, and then some of us go off to college and we never learn about money, how to think about money, how to accumulate money, how to create wealth, how to invest money all these things are never taught in our education system. What I am sharing with you today has taken me years of personal development to unlearn my past money mindset and relearn a more positive money mindset. So, even if talking about money makes you feel uncomfortable, even if you're like me and you were raised never to talk about money, it's rude to talk about money. It's greedy and selfish to talk about money. Even if it makes you feel uncomfortable, stay with me, friend, because the things I will be sharing in this episode could change your life. They changed mine. All right, let's get into it, because the truth is you deserve an abundant, beautiful life that is rich, and not just rich when it comes to money, but rich in every aspect. I want you to answer the following questions. What is your money mantra? Do you even know you have one, whether you know about it or not? What is your money mantra? What do you think about money? How do you feel about money? What are your negative beliefs around money? You first have to become aware with your relationship with money. What is your money mindset? I love what Grant Cardone says In order to change your relationship with money, you first have to lose your mind. That's right. You have to lose your middle class mind and then work on creating your millionaire mindset. You know it's messed up. We can't even talk about it. Like if you went to your friends, your family and said out loud I want to be rich, I want abundance, I want wealth, not just for my family but for generations to come. You will be labeled as selfish and greedy. But it's perfectly socially acceptable to tell anybody and everybody I'm broke. Our society is screwed up, our money mentality is screwed up, and until we change the way we think and feel about money and our relationship with it, we won't be able to attract wealth, prosperity or abundance into our lives. Most of us are brought up in the poor or middle class, and when you're brought up in the poor or middle class, you inherit the beliefs of the poor and middle class. Bill Gates once said if you were born poor, it's not your mistake, but if you die poor, it's your mistake. The truth is, no matter what kind of family we were born into and how we were raised, we are responsible for our own money mindset. And just because you were raised with a negative money mindset doesn't mean that we can't do the work to flip it upside down and change our beliefs, change our mind about money. It's never too late to examine the beliefs that were passed on to us, question them and change them. And the most important thing is, if we don't get our money mindset right, what are we passing on to our children and our children's children? This is so important. The first step to losing your middle class mind is to first recognize the negative money mantras that you were brought up with. I don't come from money. I was raised poor, maybe lower middle class. I'm the oldest of seven kids. My dad's a professional artist and my mom stayed home with us. Here's some of the money mantras that I was raised with Never talk about money. It's rude, selfish, greedy to talk about money. Money is the root of all evil. It's easier for a camel to go through the eye of a needle than for a rich man to enter heaven. Money doesn't grow on trees. We can't afford filling the blank. You have to work hard to get money. Rich people are usually selfish, greedy and bad Money won't make you happy. Waste nothing. Even if you ever get money, hold onto it tightly. Put it into savings. Don't touch it. Save it for a rainy day, because money is hard to come by. Now I have good parents. I have wonderful, loving parents and I do not fault them at all for passing on these negative money mantras, because they're probably the same money mantras that were passed on to them. Growing up, as the oldest of seven kids, I remember we didn't go out to eat because we couldn't afford it. We didn't go on vacations because we couldn't afford it. If we ever did go on a vacation, we never stayed in nice hotels because we couldn't afford it. Most of the time we didn't buy new clothes because we couldn't afford it. I was constantly getting the message that we can't have, we can't afford X, y, z. I also remember always having a job. I started working by babysitting for my mom's friends when I was 10 years old and I got my first real job at a grocery store at age 14. I worked all throughout high school. I worked all throughout college and I had a belief that if you wanted to make money, you had to work really hard. I also believed that if I wanted to make more money, I just had to work harder. I just had to work longer hours. I had to get two or three jobs just to make ends meet. When it came to money, I had a scarcity mindset. To be honest, I didn't believe that I was worthy to earn a lot of money. Growing up, though, I'm grateful for the experiences that I had because I learned the value of a dollar. I learned the value of hard work. I am a hard working girl. I've always been and always will be, but from a very young age I recognized that I didn't want this for my future family. I didn't want to tell my kids no when they wanted something or we can't afford it. In my 20s I started doing personal development and reading books to change my money mindset, to change my beliefs around money. And if you don't know where to start and you recognize that you have negative beliefs around money. Here's some of the books that I read that really helped me change my life, to change my money mindset Rich Dad, poor Dad. All of Grant Cardone's books, including the millionaire booklet, which I love it's a very short read, super good. The 10x rule and be obsessed or be average Millionaire, success habits, Miracle morning for millionaires. All of the you Are Badass series, including you Are A Bad A the original one. You're a bad A at making money and you're a bad A at every day. The secret hustle, believe, receive. And one that I've only read part of, but it's my husband's absolute favorite book Think and Grow Rich. So step one of changing your money mindset is to first recognize the negative beliefs that you have, question them and then go to work to change them. And the way that we do that is by personal development, by learning from people who have a positive money mindset, from learning from people that have accumulated wealth, abundance and success in their lives. So go to work, crack open a book I like to listen to Audible when I'm driving, when I'm working out, when I'm getting ready, take moments in your day. A money mindset, university. Those are just some of the books that I've read about money, and I'm sure I'm missing some. There are so many out there. Get your hands on good information, on good books, and here is a mantra that I have for myself I only take advice from someone I would be willing to trade lives with. Where are you getting your money advice from? Is it from somebody who's successful and has money, or is it somebody that has a negative money mindset? Here's how some of my beliefs have changed. Instead of saying we can't afford it, I now say how can we afford it? Saying we can't afford it is a statement. It's closed. But when you ask a question, you, when you ask a really good question like how can we afford it, your brain goes to work looking for solutions. Your brain tries to solve the problem. It goes to work looking for opportunities of how can we afford it. I learned this from the book Rich Dad, poor Dad. By the way, I also used to believe that money was the root of all evil. Like some of these sayings that we are told and we repeat ourselves don't even make any sense, I know that Satan is the root of all evil. The devil is the root of all evil, not money. When good people make money, it's a good thing, and I believe that Heavenly Father wants us to be successful in all areas of our life. I believe part of our purpose of being here is to become the best versions of ourselves that we can become. The truth is, the more money I make, the more money I earn, the more money that flows to me, the more money I have to give to charities, the more money I have to give to tithing for my church, the more money I have I can help family members that are in need. I can do more good when I have more money. The poor man is limited in his capacity of how he can help others If he can't even help himself, if he can't even help his own family. Money doesn't make you evil. It magnifies the kind of person that you are. So if you're a good person, you'll do more good with your money. If you're an evil person, then, yes, you will do more evil with your money. Okay, tell me if you've heard this one. Another negative money mindset that I overheard was more money, more problems. Like, how does that even make sense? The saying really should be like less money, more problems. I remember thinking that rich people got divorced. Okay, stay with me for a second. I remember overhearing my parents have a conversation about a couple who was wealthy and they got divorced. Actually, a couple couples that were wealthy that got divorced, and they always blamed it on their success and their financial abundance. They always say that the money ruined them, the money ruined the relationship. But the truth is and what I believe now is success does not cause divorce. On the contrary, we know that most divorces happen because of financial strain on the family. Not having financial success leads to more divorces. This old belief is a popular one. I hear this all the time. Money won't make you happy. I hear people say this all the time. What does that even mean? Does that mean that being poor would make you happy? I don't think so. The truth is, if you believe that money won't make you happy, then it won't. Anyone who tells you that money won't make you happy never had enough money to know if it would or if it wouldn't. This money mantra doesn't make a lick of sense. I know people who are poor and happy, and I know people who are rich and happy. It's like the stupidest saying ever. And I also know that happiness and true joy come from God. Our happiness has nothing to do with money. Okay, how about this one? It takes money to make money. I don't know about you, but I've never made money from money that I already had. The truth is, it doesn't take money to make money. It takes courage to make money. It takes courage to take risks. It takes courage to challenge old beliefs that no longer serve you. It takes courage to put yourself out there and go after your dreams, and it also takes courage to ignore the haters and the naysayers who are going to try to stop you. I used to have a scarcity mindset about money. Growing up, we never wasted food, not even leftovers. Every weekend, my dad would put all of the leftovers in a pot together and create a mystery meal of it. I still don't like eating leftovers to this day. We also never wasted food because we had to finish everything on our plate. I call this the clean plate club generation Finish all your food. You can't leave the table until everything's gone. But it wasn't just about wasting food. Don't waste water, don't waste money by leaving the lights on. It was like everything that we needed to live was just costing us money, and we were trying to save every penny of it instead of learning how to get more of it. I don't have a scarcity mindset anymore. I know that money is everywhere. There's abundance everywhere. I know that if I lost everything today, that I would be able to generate more money. I know that there's enough money on this planet that you can be successful and I can be successful, and your success doesn't take away from my success, and vice versa. I know that I don't have to make money or create money. Money's already out there. I just have to find a way to make it flow to me. I have a funny story to share with you about not wasting, which actually happened recently to me. So all of Preston's family came up to Utah and we all went to our Bear Lake cabin. There was over 30 of us, and so we came prepared with lots of food for the week. We also Airbnb our cabin, and if you're nosy like I am and you just want to see what the cabin looks like, I'll put a link in the show notes. Well, one thing that we require all of our guests to do is to dispose of all of their food before they leave. All of the food has to be out before the cleaners come, so I was getting ready to throw away a half eaten jar of peanut butter that we bought and used for this family event. But my mother-in-law protested we can't waste this. Do you know how expensive peanut butter is? I told her that I could afford another jar of peanut butter and to throw it away. So my kids don't really like peanut butter, so I knew we wouldn't use it anyways. Guess what, she snuck that peanut butter in my car and I didn't find it until like a week later and it had gone bad. I know from this experience that she doesn't want to waste anything. And here's the thing I love my mother-in-law. She's a saint. She is the sweetest. I won the lottery when it comes to in-laws, okay, but the older generation has a belief, because they were raised in a time when food was scarce, so they wasted nothing and they passed that belief onto us. That's a belief that I am trying so hard not to pass on to my children. If I can't afford another jar of peanut butter, then I have bigger problems. I still can't believe she put that in my car, hit it in my car, took me a week to find, and then it was out of you, thrown out anyways. I also had to change my belief about investing in myself, whether that's investing in a book, an online course, a coach, a mentor or, like when I was in network marketing, investing in the product so I could sell the product. So many people on my team I had to explain this to because they had a negative money mindset. They would tell me I can't afford the foundation. It's a $39 bottle foundation. I get it. It's more expensive than drugstore foundation. They would tell me I can't afford a $39 bottle foundation and I would say if you are not willing to buy it, what do you think your customer is going to do? I also told them how do you expect to sell it if you don't have it? See, you look at this $39 expensive bottle foundation and say I can't afford it. I look at this $39 bottle of foundation as an investment and that $39 bottle of foundation in my hands made it so I could go live, I could create content, I could talk about the viscosity, I could talk about the coverage, I could color match people, and that $39 made me hundreds of thousands of dollars. That's the difference. So, while there were lots of people on my team that would tell me I can't afford it, I told them you can't afford not to have this. Invest in yourself. This is a lesson that I had to learn to invest in myself, to make myself better. There's nobody on the face of the planet exactly like you. You are literally the one and only you are so special, and investing yourself is never a bad thing. I recently just finished a book called the Upcider and if you want, I'll do a book review. I feel like I could summarize it up for you. I don't know if I would necessarily recommend reading the entire book, but one big takeaway that I got from the book is that I'm the problem. I am the problem, but you know what? I'm also the solution. You and I. We have the answers to solving our money mindset problems inside of us. We just have to change our mindset. I used to think that successful, rich, wealthy people were different, that you were either born into money or you weren't. You were either destined to be successful or you weren't. You either came from an affluent family or you didn't. You either had good connections or you didn't. I now know, because I've been around enough successful people, that there's nothing special about them. They are human, just like you and me. They're flawed, they're imperfect. The biggest difference is between the successful and the unsuccessful. It's the mindset, it's the beliefs. Success starts between the ears, and you know what the best news of all is? We can change. We're human. We can change. Humans change every single day. We can choose to believe something new. We can tell ourselves different stories. We can educate ourselves and get around successful people and adopt their beliefs. If you want to change your beliefs around money, first have to recognize the negative money mantras that you have instilled in you and then, second, go to work doing personal development to change your beliefs, to turn your negative money mantras into a positive. The way we think and even talk about money matters. Money flows to those who pay attention to it, to those who are grateful for it. Money never found me when I had a broke mindset. Have you ever noticed that those who complain about money, those who moan and groan about money, always talk about how broke they are, how they never seem to have enough money, never have any money? It's not a coincidence. Money will not find you. If you complain about it. Money is not gonna flow to you. If all you talk about is how broke you are, if you believe that money is evil, it's not gonna flow to you. If you believe that money makes you a bad person, it's not gonna flow to you. You're literally blocking yourself from the abundant flow of money. So if you want money to flow to you, stop complaining about it all the time. Stop talking bad about money. Have good money mantras. Positive money mantras Like actually practice positive money affirmations, positive money mantras. Here's a few of my favorites. Ooh, I love this first one Money flows to me in expected and unexpected ways. This is one of my favorite ones, and when I practice this mantra, money really does flow to me in expected and unexpected ways. It is crazy how this works. Randomly, I'll get a check for $1,000, or I'll get paid for something that I wasn't planning on getting paid for. This mantra always works for me. I get paid in unexpected ways. Try this mantra on for size, because it works. The next money mantra is I am worthy of money. I'm worthy of success. I deserve it. I didn't used to believe that I was worthy of money or worthy of making a lot of money. I had to change that mindset. Here's another one I am open and ready to receive more cash flow into my life. I know that having more money will improve my life and the lives of others. There's no limit to the amount of money that I can make. I make bank doing what I love. I grow my impact and my income every single day. There's no limit to the number of people I can help or the amount of money that I can make. A multi-millionaire lives within me and today she's running the show. These are actual affirmations for wealth, money, affirmations that I've used. I posted these on my Instagram stories and I practiced saying to myself oh, I just thought of one more, this one's a good one. I believe that God wants me to be successful. That's powerful right. God created me. He knows me, he knows my potential, he knows who I can become. He wants me to be successful because he knows that I can make a bigger impact and help more people if I have more money flow into my life. Like I said before, I truly believe that God wants us to be successful in all areas of our life, including our financial success. God needs successful people on his side. God needs generous people on his side. God needs people who have the characteristics of charity, the pure love of Christ, and are willing to give all they have for his name. Let's go back to something that I learned while I was young. In the scriptures it says it's easier for a camel to go through the eye of a needle than a rich person to get into heaven. We hear the story about the rich young man that Jesus asked him to give up all that he had to follow him, and he didn't. The problem isn't that he was rich. The problem is that this rich young man didn't want to give all he had up to God. His worldly possessions, his things, were more important to him than God. I've never told anybody this before, but if God asked me to give up everything, I would, and I've made that promise to him that I will consecrate all that I have for his name. And if he asked me to give it all up, even my life, I would. In college I had a religious professor that said this rich young man who Christ asked to give up all of his riches and follow him. He was actually being called to be a disciple at the time, but he was so caught up in the things of the world that he couldn't do it and he didn't follow Christ, whereas, on the other hand, like Peter, james and John, when they were called to give up all they had and to follow Christ. They immediately left their boats, their fish, their families, their careers, everything, and they followed the Savior without hesitation and without question. They left everything behind and they followed him. I love that affirmation. Try it on for size. I believe that God wants me to be successful. I believe that he wants you to be successful, too, if you want to change your money mindset. It's just a decision. Honestly, that's all it is. It's just a decision. First, you've got to recognize your negative, limiting beliefs about money. What are they? What are the things that you were told growing up that, honestly, don't even make a lick of sense? Then go to work on personal development. Read books about money, learn from people who are successful, who have abundance, financial wealth, and then practice money mantras, affirmations for wealth. You can steal some of mine. You can come up with your own. If you do, put it in your Instagram stories and tag me at Jenny underscore Peterson, I would love to see what your money mantras are. Friend, you are worthy of success. You deserve it. You are worthy of wealth. You are worthy to live an abundant life. Success starts between the ears, the only thing that's stopping you from attracting more money into your life is your own mindset, and that's the best part. We can change our mindset anytime we decide to Listen. Can you do me a favor please? If you found this episode valuable, share it with a friend or share it on your Instagram stories. Please leave a five star review. Make sure you're subscribed to the podcast so you never miss an episode, and I just want to thank you for spending your time with me. I just want to thank you for investing in yourself, investing your time and your energy in yourself right now to start changing your money mindset. Thank you for being here. I love you so much and I will see you inside another episode.