Podcasts > The School of Greatness > Wealth Secrets to Unlock Your Mind & Attract Money

Wealth Secrets to Unlock Your Mind & Attract Money

By Lewis Howes

The School of Greatness podcast explores the psychology and mindset around money and wealth creation. The topics covered include how individuals develop subconscious money beliefs in childhood that can lead to feelings of lack or separation from abundance. The summary delves into techniques for cultivating the right internal state, such as focusing on the unseen quantum energy field and accessing a relaxed, coherent mind-body state.

It also examines habits and behaviors of financially successful people, including living within one's means, delaying gratification, avoiding material possessions that depreciate, and believing in the ability to control one's financial destiny. The podcast encourages listeners to reframe their perspective on abundance and take action to attract wealth into their lives.

Listen to the original

Wealth Secrets to Unlock Your Mind & Attract Money

This is a preview of the Shortform summary of the Sep 23, 2024 episode of the The School of Greatness

Sign up for Shortform to access the whole episode summary along with additional materials like counterarguments and context.

Wealth Secrets to Unlock Your Mind & Attract Money

1-Page Summary

The psychology and subconscious programming around money

Individuals adopt money beliefs and habits in childhood

According to Bob Proctor and Joe Dispenza, as children we absorb beliefs and attitudes about money through powerful emotional experiences and phrases heard from parents or the environment, shaping our subconscious financial mindset.

Many struggle with feelings of lack and separation from abundance

Dispenza suggests emotions tied to past scarcity experiences sabotage manifesting abundance. Fixating on lack rather than feeling abundant now creates incoherence, preventing attraction of wealth.

Cultivating the right mindset and internal state

Focusing on the unseen quantum field

Per Dispenza, shifting focus from physical reality to the quantum energy field facilitates accessing a coherent brain state for holding clear intentions and attracting abundance.

Accessing a relaxed, coherent mind-body state

Dispenza advises relaxing mind and body to synchronize brain regions and slow brain waves for coherent function free of stress.

Feeling emotions of abundance before physical manifestation

Instead of anticipating lack, Dispenza recommends practicing gratitude and embodying the desired abundant state first to draw matching experiences through synchronicity.

Habits and behaviors of financially successful

Living within means, delaying gratification

George Kamel notes financially successful people live below their earnings. He discusses delayed over instant gratification, emphasizing patience and controlled spending.

Avoiding material possessions that depreciate

Howes and Kamel share that millionaires often drive used, affordable cars and focus on experiences over constant acquisition, understanding possessions depreciate in value.

Believing in ability to control financial destiny

Per Kamel, most millionaires believe they control their finances. Proctor advises developing skills and income streams, while Bet-David suggests pursuing leadership abilities.

1-Page Summary

Additional Materials

Clarifications

  • Children often internalize beliefs and attitudes about money from their surroundings, especially from influential figures like parents. These early experiences can shape their subconscious views on finances, impacting their future financial mindset and behaviors. Emotional experiences and repeated phrases related to money during childhood can create deep-seated beliefs that influence how individuals perceive and interact with money throughout their lives. This process highlights the importance of understanding and potentially reshaping these early influences to foster a healthier relationship with money.
  • Synchronizing brain regions and slowing brain waves for coherent function involves aligning different parts of the brain to work together harmoniously, promoting optimal cognitive processing. This synchronization can lead to improved focus, clarity, and overall brain function. Slowing brain waves, particularly into states like alpha or theta, is associated with relaxation, creativity, and enhanced learning abilities. By achieving this coherent state, individuals may experience reduced stress and better mental performance.
  • Living below earnings and practicing delayed gratification means spending less money than you earn and consciously choosing to postpone immediate rewards for long-term benefits. This financial strategy involves prioritizing saving and investing over excessive spending, which can lead to financial stability and future wealth accumulation. By living within one's means and delaying gratification, individuals can build financial security, avoid debt, and work towards achieving their long-term financial goals. This approach requires discipline, patience, and a focus on long-term financial well-being rather than instant gratification.
  • Avoiding material possessions that depreciate means choosing to invest in items that hold or increase in value over time, rather than losing value. This financial strategy is often followed by financially successful individuals to preserve and grow their wealth. By prioritizing assets that retain or appreciate in value, individuals aim to build long-term financial stability and security. This approach contrasts with spending on items like luxury cars or gadgets that lose value quickly.
  • Believing in the ability to control financial destiny involves having confidence in one's capacity to influence and shape their financial future through their actions, decisions, and mindset. This belief empowers individuals to take charge of their financial well-being, set goals, make strategic choices, and persist in pursuing financial success despite challenges. It emphasizes personal responsibility, proactive planning, and a mindset focused on growth and self-determination in financial matters. This belief often leads individuals to seek opportunities for learning, skill development, and income generation to enhance their financial stability and achieve their desired financial outcomes.

Counterarguments

  • While childhood experiences can influence money beliefs, it's also true that individuals can and often do change their financial mindset and habits later in life through education, experiences, and deliberate effort.
  • The concept of manifesting wealth through mindset alone is controversial; critics argue that it oversimplifies complex socioeconomic factors and downplays the role of concrete actions and opportunities in achieving financial success.
  • The focus on the quantum field and its relation to attracting abundance is not scientifically substantiated and remains a metaphysical speculation rather than an established fact.
  • The idea that one can simply feel emotions of abundance to attract wealth may be overly simplistic and can overlook the importance of strategic planning, hard work, and the role of external factors in financial success.
  • Living within means and delaying gratification are sound financial principles, but they do not guarantee financial success; other factors such as income level, health, and economic conditions also play significant roles.
  • The suggestion that avoiding material possessions that depreciate is a common trait among millionaires is an overgeneralization and does not account for the diverse investment strategies and spending habits of wealthy individuals.
  • The belief in controlling one's financial destiny can be empowering, but it must be balanced with an understanding that not all aspects of one's financial situation are controllable, such as market crashes, unexpected expenses, or systemic economic issues.

Get access to the context and additional materials

So you can understand the full picture and form your own opinion.
Get access for free
Wealth Secrets to Unlock Your Mind & Attract Money

The psychology and subconscious programming around money

Lewis Howes delves into the psychological facets behind manifesting money and abundance. He is joined by experts Bob Proctor and Joe Dispenza, who discuss how individuals' relationships with money are deeply influenced by their past experiences and internal beliefs.

Individuals develop their relationship with money based on past experiences and external influences

According to Proctor, a paradigm—comprising a multitude of habits—is rooted in the subconscious mind from a young age and heavily influences behavior, regardless of intelligence, education, or background. Dispenza adds that these beliefs are usually created from experiences in our formative years. For example, as children, in an almost hypnotic state due to slower brain waves, phrases such as "money is the root of all evil" or "you have to work hard to make money" heard from parents or the environment can lay the subconscious groundwork for one's financial mindset.

As children, people absorb beliefs and attitudes about money from their environment, such as what their parents told them

Recalling his own misguided approach to making money, which led to exhaustive collapse, Proctor suggests a necessary shift in thinking for his relatives who struggle financially each Christmas. He advises changing their paradigm through education, such as attending his seminars.

Dispenza underscores that strong emotional experiences, both positive and negative, forge powerful memories and associations, becoming a 'snapshot' that shapes our lasting perception of money.

Stronger emotional experiences, whether positive or negative, create stronger memories and associations with money

These moments of heightened emotional experience create a freeze-frame effect in the brain, etching a long-term memory associated with that event, particularly around money matters.

Many people struggle with feelings of lack and separation from the abundance they desire

Dispenza argues that emotions tied to past events, especially those ...

Here’s what you’ll find in our full summary

Registered users get access to the Full Podcast Summary and Additional Materials. It’s easy and free!
Start your free trial today

The psychology and subconscious programming around money

Additional Materials

Clarifications

  • A paradigm rooted in the subconscious mind represents a set of beliefs, habits, and thought patterns that shape an individual's perception and behavior. These paradigms are often formed during childhood and are deeply ingrained in the subconscious, influencing how a person views and interacts with the world, including their relationship with money. They can be difficult to change because they operate below the level of conscious awareness, impacting decisions and actions without explicit recognition. By understanding and reshaping these subconscious paradigms, individuals can transform their mindset and approach towards money and abundance.
  • The freeze-frame effect in the brain refers to how intense emotional experiences create vivid and long-lasting memories associated with specific events, like those related to money matters. These memories are etched deeply in the mind, forming strong associations that can influence one's perception and behavior regarding money. Essentially, it's like a mental snapshot that captures the emotional intensity of a moment, shaping how we think and feel about financial matters in the long term. This phenomenon highlights how our emotional responses to money-related events can have a significant impact on our beliefs and actions surrounding wealth and abundance.
  • Autonomic dysregulation involves a disruption in the balance between the brain and body, affecting one's ability to function effectively. This imbalance can lead to difficulties in managing emotions and responses to stimuli, impacting overall well-being. It is often associated with heightened stress levels and can hinder the capacity to create a positive and abundant mindset. Autonomic dysreg ...

Counterarguments

  • While past experiences and external influences are significant, some argue that an individual's relationship with money can also be shaped by their own conscious decisions and efforts to educate themselves about financial literacy in adulthood.
  • It's not only childhood experiences that shape beliefs about money; ongoing experiences, societal messages, and personal reflections in adulthood also play a critical role.
  • Strong emotional experiences do often create lasting memories, but it's also possible for individuals to reframe their associations with money through cognitive behavioral techniques, therapy, or other forms of personal development.
  • The idea that one must feel abundant internally before experiencing external abundance can be challenged by the perspective that tangible improvements in one's financial situation can also lead to a genuine sense of abundance and change one's internal state.
  • The concept of abundance is subjective and culturally rela ...

Get access to the context and additional materials

So you can understand the full picture and form your own opinion.
Get access for free
Wealth Secrets to Unlock Your Mind & Attract Money

Cultivating the right mindset and internal state to attract abundance

Experts like Joe Dispenza and Lewis Howes discuss the importance of shifting focus from the physical world to the energetic, unseen quantum field to attract abundance, emphasizing the roles of intention, emotions, and mindset in this process.

Shifting attention from the physical, material world to the energetic, unseen quantum field

According to Joe Dispenza, most people are preoccupied with the material world and unaware of the quantum field—an invisible field of energy that exists beyond our senses. To access this field, one must remove attention from their body, environment, and time to relax into the present moment. This dissociation from three-dimensional reality and focus on the present can lead to a relaxed and coherent brain state, where brain waves slow down and different regions synchronize. Dispenza underscores the necessity of holding a clear, coherent intention and aligning the brain, heart, and emotions to send a stronger signal into the field, which is crucial for attracting abundance.

Relaxing the mind and body to slow brain waves and synchronize different brain regions

Dispenza advises relaxing the mind and body to shift focus from the physical to the quantum field. This process slows down brain waves and synchronizes brain regions, permitting a coherent and organized brain function. A coherent signal, free from the incoherence of stress, strengthens one's clear intentions for material outcomes.

Holding a clear, coherent intention and aligning the brain, heart, and emotions

Aligning the brain, heart, and emotions is central to making one's thought more real than any material thing. Dispenza and Howes stress the importance of having a clear and coherent intention and giving attention to thoughts of financial freedom and abundance.

Feeling the emotions of abundance, freedom, and joy before the physical manifestation

Instead of waiting for external events to create feelings of wealth or success, Dispenza believes in feeling emotions like gratitude, worthiness, and love beforehand. This feeling initiates internal healing and attracts similar energy from external sources.

Practicing gratitude, love, and worthiness, rather than anticipation of lack

Dispenza contrasts two ...

Here’s what you’ll find in our full summary

Registered users get access to the Full Podcast Summary and Additional Materials. It’s easy and free!
Start your free trial today

Cultivating the right mindset and internal state to attract abundance

Additional Materials

Clarifications

  • The "energetic, unseen quantum field" is a concept from quantum physics that suggests there is an underlying field of energy beyond what we can perceive with our senses. This field is believed to be the source of all matter and energy in the universe, existing at a fundamental level where particles and waves interact. It is often associated with ideas of interconnectedness, potentiality, and the influence of consciousness on reality. Scientists and spiritual thinkers explore this concept to understand phenomena like manifestation, intention, and the interconnected nature of the universe.
  • Dissociation from three-dimensional reality involves shifting focus away from the physical world and sensory experiences to access a deeper, unseen energetic realm. This process aims to transcend the limitations of our physical senses and perceptions to connect with a more subtle level of existence. By detaching from the constraints of time, space, and physicality, individuals can tap into the quantum field and explore the potential for manifestation beyond conventional reality. This practice often involves mindfulness techniques to quiet the mind, enhance awareness, and open up to new possibilities beyond the confines of everyday perception.
  • A coherent brain state is when different regions of the brain synchronize and function together harmoniously, typically associated with slower brain waves. This state is believed to enhance mental clarity, focus, and intentionality, facilitating the alignment of thoughts, emotions, and intentions for manifesting desired outcomes. Achieving a coherent brain state is thought to be crucial for effectively engaging with the quantum field and attracting abundance through the power of intention and emotion. It involves calming the mind, reducing stress, and fostering a state of mental and emotional coherence conducive to manifesting one's intentions.
  • Brain wave synchronization, as discussed by Joe Dispenza, involves aligning the electrical activity in different regions of the brain to work harmoniously together. This synchronization occurs when brain waves slow down and different brain regions start working in coherence. It leads to a state of mental coherence, where the brain functions more efficiently and effectively. This synchronized state is believed to enhance focus, clarity, and the ability to manifest intentions effectively.
  • The Newtonian model involves waiting for external events to trigger positive emotions, while the quantum model focuses on cultivating feelings of abundance and wealth internally to man ...

Counterarguments

  • The concept of a quantum field influencing personal abundance is not scientifically proven; quantum physics does not directly translate to human psychology or financial success.
  • Focusing solely on internal states may lead individuals to neglect practical steps necessary for achieving material abundance, such as education, networking, and hard work.
  • The idea that one can simply attract abundance through mindset changes can be overly simplistic and may not account for systemic issues that limit individuals' opportunities.
  • The emphasis on personal energy and intention may inadvertently blame individuals for their lack of abundance, ignoring factors outside their control.
  • The notion of synchronicities and serendipities as mechanisms for achieving abundance can encourage a passive approach to life, potentially diminishing the importance of active decision-making and effort.
  • The teachings may not be universally applicable, as different individuals may have varying levels of success with these methods due t ...

Get access to the context and additional materials

So you can understand the full picture and form your own opinion.
Get access for free
Wealth Secrets to Unlock Your Mind & Attract Money

Habits and behaviors of financially successful people

Key figures like George Kamel, Lewis Howes, Bob Proctor, and Patrick Bet-David discuss the habits and behaviors of financially successful individuals, emphasizing the importance of living within one's means, delayed gratification, and believing in the ability to control one's financial destiny.

Living on less than you earn and delaying gratification

Controlling impulses to spend and accumulate material things

Financially successful people often live on less than they earn, which George Kamel suggests is vital for financial success. He elaborates on the problem with spending more than you make, using the example of someone earning $40,000 but spending $60,000. Kamel discusses the need for delayed gratification and contrasts the instant gratification culture of today's society. He also introduces the concept of JOMO – the joy of missing out – advocating for satisfaction from not engaging in every spending opportunity.

Patiently saving and investing for the long-term

Kamel and Howes talk about the importance of making sacrifices and getting rid of debt while emphasizing the discipline of putting a certain amount of money away each month for the future instead of spending it immediately. Financially successful individuals often have a long-term perspective, saving and investing their income patiently over time rather than seeking immediate gratification. Kamel suggests creating a budget before the month begins and recommends tracking transactions regularly to control spending and save for future investments or big purchases like vacations.

Driving used, affordable vehicles and avoiding lifestyle inflation

Understanding that material possessions depreciate and don't build wealth

George Kamel notes that millionaires, on average, drive four-year-old used cars because they're aware that cars are depreciating assets. Lewis Howes shares his experience of driving a used car for the first five years he lived in Los Angeles despite his substantial net worth. He also mentions how his father would use cars until they could no longer be driven.

Focusing on experiences and relationships over constant acquisition

Instead of constant acquisition, Howes stresses the importance of having things that make one feel free, light, and full. He and Kamel advocate for living simply and focusing on experiences and relationships, rather than material possessions.

Believing in their ability to control their financial destiny

Taking responsibility and not blaming external factors or past mistakes

Kamel shares that 97% of millionaires believe they control their financial destiny, underscoring the significance of self-agency and personal responsibility. He suggests that hope plays a crucial role and encourages people to overcome any shame, guilt, or financial trauma from their past.

Developing skills and creating multiple income streams

Bob Proctor mentions that wealthy people often have multiple sources of income and emphasizes the importance of changing one's mindset and approach to create financial success. He also mentions the principle of giving more value than you take in return and finding a mentor to learn and develop skills from.

P ...

Here’s what you’ll find in our full summary

Registered users get access to the Full Podcast Summary and Additional Materials. It’s easy and free!
Start your free trial today

Habits and behaviors of financially successful people

Additional Materials

Counterarguments

  • While living within one's means is generally sound advice, it may not account for systemic issues that make it difficult for some individuals to earn enough to cover basic living expenses, let alone save and invest.
  • Delayed gratification and impulse control are important, but they can also lead to an overly restrictive lifestyle that may ignore the importance of occasional indulgences for mental health and well-being.
  • The emphasis on saving and investing assumes a level of financial literacy and access to financial resources that not everyone has, potentially overlooking the need for broader financial education and support.
  • Driving used, affordable vehicles is practical, but it may not always be the best decision for everyone, depending on their specific needs, such as safety features or reliability that might come with a newer vehicle.
  • The focus on experiences over material possessions doesn't consider that for some people, certain material possessions can significantly enhance their quality of life or may be necessary for their work or hobbies.
  • The belief in controlling one's financial destiny can be empowering, but it may also downplay the role of luck, timing, and privilege in financial success.
  • Taking responsibility for one's financial situation is important, but blaming individuals for their financial struggles can ignore larger economic factors and systemic barriers that affect financial stability.
  • The idea of developing multiple income streams is valuable, but it may not be feasible for eve ...

Actionables

  • You can automate your savings by setting up a direct deposit from your paycheck to a savings account you don't regularly check. This helps you save without thinking about it and reduces the temptation to spend what you don't see. For example, if you get paid bi-weekly, arrange for a portion of your paycheck to go directly into a high-yield savings account or an investment account.
  • Create a "30-day list" for non-essential purchases to practice delayed gratification. Whenever you want to buy something that's not a necessity, write it down with the date on a list. If, after 30 days, you still believe it's necessary, then consider purchasing it. This period allows you to evaluate the importance of the item and often leads to realizing you don't need it.
  • Engage in a monthly "financial reflection session" wh ...

Get access to the context and additional materials

So you can understand the full picture and form your own opinion.
Get access for free

Create Summaries for anything on the web

Download the Shortform Chrome extension for your browser

Shortform Extension CTA