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The Practical Guide To Making More Money in 2025

By Lewis Howes

In this episode of The School of Greatness, the guests explore the key mindsets and habits for building wealth over time. They delve into the psychology of how wealthy individuals view and approach money, emphasizing the importance of delayed gratification, continuous education, and directing money as productive "energy" rather than simply accumulating it.

The discussion covers practical techniques like writing "love letters" to uncover emotional blocks around money, prioritizing high-impact activities through time management strategies, and addressing inner fears or negative beliefs that could sabotage financial success. Ultimately, the guests stress the value of patience, persistence, and maintaining a growth mindset to overcome challenges and break through financial ceilings.

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The Practical Guide To Making More Money in 2025

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The Practical Guide To Making More Money in 2025

1-Page Summary

Mindset and Psychology Around Money and Wealth

Wealthy People View Money With Deferred Gratification

Ray Dalio highlights the importance of delaying immediate consumption to enable saving and wealth accumulation, illustrated by the "marshmallow test." Dalio suggests starting by calculating how long savings can sustain before investing to build wealth.

Wealthy Save First to Build Wealth; Others Spend, Stay Scarce

Saving provides a foundation for investing, prompting decisions on where to allocate money. According to Dalio, saving leads to questioning and experience in the financial realm.

Wealthy People See Money As Energy to Direct, Not Hoard

Shift Money Mindset By Writing a "Love Letter to Money"

Jen Sincero and Lewis Howes view money as energy to direct. Sincero recommends writing a "love letter to money" to uncover emotional blocks and raise one's frequency to attract money through affirmations like "money flows to me easily."

Wealthy Seek Knowledge, Education, and Mentorship to Grow Financially

Coaching, Courses, and Financial Planning: Essential, Not Indulgent for the Wealthy

Dalio and Sincero emphasize acquiring knowledge, education and mentorship. Sincero credits coaching for defining her value proposition, prompting serious action. Even after success, she continues financial education through planners and experts.

Time Management and Productivity Strategies For Building Wealth

Time Management: Efficient but Lacks Long-Term Gains

Time Management Maximizes Productivity

Rory Vaden explains the efficiency model focused on completing tasks faster, though this can lead to diminishing returns over time.

"Multiplier" Mindset Creates Time Through Strategy

Evaluating Tasks by Long-Term Impact Over Urgency or Importance Spurs Time Multiplication

Vaden introduces the "multiplier" mindset of evaluating tasks by long-term impact to create future time through current actions.

Free Time for High-Leverage Activities By Eliminating, Automating, Delegating Tasks

Vaden's Focus Funnel aims to eliminate, automate or delegate tasks to free time for high-impact activities with positive "return on time invested."

Prioritize Long-Term Wealth-Building Over Immediate Gratification

Successful People Sacrifice Short-Term Gains and Reject Low-impact Tasks For Future Rewards

Vaden and Dalio emphasize sacrificing short-term pleasures to prioritize actions building long-term wealth, like investing in one's business or home.

Overcoming Mental/Emotional Blocks To Achieving Financial Success

Successful People Often Have Money Fears and Beliefs

Guilt, Shame, or Unworthiness Can Sabotage Wealth-Building Efforts

Sincero and Howes discuss fears, stigmas and negative associations around money that can create emotional barriers preventing financial success.

Addressing and Processing Emotional Barriers Is Essential

Self-Reflection, Coaching, and Financial Confidence Overcome Internal Blocks

Howes stresses discussing fears and insecurities to address emotional barriers. Sincero highlights feeling emotions around changing money mindsets, adopting new thought patterns aligned with abundance, and investing in coaching for actionable change.

Patience, Persistence, and a Growth Mindset Break Financial Ceilings

Commitment To Learning and Iterating Enables Long-Term Wealth Creation

Dalio underscores humble self-reflection, learning from experiences, and a growth mindset to maintain wealth. Sincero's journey from instability to success reflects persistence and dedication to continuously evolving one's financial mindset.

1-Page Summary

Additional Materials

Counterarguments

  • Deferred gratification is not always feasible for individuals with low income or those living paycheck to paycheck, who may not have the luxury to save and invest.
  • The concept of viewing money as energy to direct can be overly simplistic and may not account for systemic issues that affect financial stability and access to wealth.
  • Access to coaching, courses, and financial planning can be cost-prohibitive for many, creating barriers to obtaining the knowledge and mentorship that are suggested as essential for wealth growth.
  • Time management strategies that focus on productivity can sometimes lead to burnout and may not be sustainable in the long term without considering work-life balance.
  • The "Multiplier" mindset assumes that all tasks can be evaluated purely on long-term impact, which may not be practical in situations where immediate action is required.
  • The ability to eliminate, automate, or delegate tasks is often a privilege that comes with certain job roles or financial status, and not everyone may have the resources or authority to do so.
  • Prioritizing long-term wealth-building over immediate gratification assumes that individuals have the means to make such choices, which may not be the case for everyone.
  • The advice to address emotional barriers through self-reflection and coaching may not be sufficient for individuals with deep-seated psychological issues related to money, who might require professional therapy.
  • The emphasis on patience, persistence, and a growth mindset may inadvertently blame individuals for their lack of financial success, without acknowledging external factors that can limit opportunities.

Actionables

  • You can create a "Future Self" savings challenge by setting aside a small amount of money each week into an account you label as "Future Me," visualizing the wealth you're building for your older self.
    • This strategy makes the concept of deferred gratification tangible and encourages consistent saving habits. Imagine that each deposit is a gift to the future you, who will be grateful for the foresight and discipline you showed.
  • Develop a "Money Energy Map" by tracking all your expenses for a month and then categorizing them into energy-giving and energy-draining expenses.
    • This exercise helps shift your perspective on money management from hoarding to directing energy where it's most beneficial. You might find that some expenses, like educational books or health investments, invigorate your financial growth, while others, such as unnecessary subscriptions, might be sapping your financial energy.
  • Initiate a "Time Investment Diary" where you log how you spend your time for a week, then review and identify which activities could be streamlined or outsourced to free up time for wealth-building activities.
    • By consciously observing how you spend your time, you can make informed decisions about what to eliminate, automate, or delegate. This could range from hiring a virtual assistant for mundane tasks to using meal prep services to save time on cooking, thus opening up more opportunities to focus on activities that contribute to long-term wealth.

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The Practical Guide To Making More Money in 2025

Mindset and Psychology Around Money and Wealth

Experts discuss the importance of mindset in accumulating wealth, highlighting that the psychology of money is critical in one’s financial journey.

Wealthy People View Money With Deferred Gratification

Ray Dalio uses the "marshmallow test" to illustrate the concept of deferred gratification, which is fundamental to wealth-building. By saving first and postponing immediate consumption, one can enjoy greater benefits in the future. Dalio suggests starting by calculating how long one can live on their savings to gain security and a foundation for wealth. This mindset encourages saving and leads to making informed investment choices.

Wealthy Save First to Build Wealth; Others Spend, Stay Scarce

Dalio emphasizes the need for a focus on saving. The act of saving not only provides a security net but also prompts individuals to make decisions about where to put their money for investment. He highlights that saving leads to questioning about investment, thereby gaining experience in the financial realm.

Wealthy People See Money As Energy to Direct, Not Hoard

Shift Money Mindset By Writing a "Love Letter to Money"

Jen Sincero, along with Lewis Howes, views money as a form of energy that needs to be appropriately directed. Sincero recommends writing a "love letter to money" as an exercise to uncover and address one's true feelings towards finances, which could range from desire to guilt. By doing this, one can identify any negative blocks and start to attract money by raising their energetic frequency.

Sincero advocates for energy work to align oneself with the flow of money. She suggests using affirmations such as "money flows to me easily and freely" and focuses on the feelings these affirmations evoke. Addressing energy blocks and working through the emotional aspects of finance can help shift one’s money mindset.

Wealthy Seek Knowledge, Education, and Mentorship to Grow Financially

Coaching, Courses, and Financial Planning: Essential, Not Indulgent for the Wealthy

Both Dalio and Sincero emphasize the importance of acquiring knowledge, education, and mentorship. Dalio views teaching and sharing knowledge as the greatest gift, as evidenced by his book which shares the principles he has learned. Sincero talks about the profound ...

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Mindset and Psychology Around Money and Wealth

Additional Materials

Counterarguments

  • Deferred gratification may not be feasible for everyone, especially those living paycheck to paycheck who cannot afford to save.
  • The concept of viewing money as energy might not resonate with everyone, as some may see it as too abstract or lacking practical application.
  • Writing a "love letter to money" could be seen as an oversimplification of complex financial issues and may not lead to significant changes in financial behavior.
  • Affirmations and energy work may not have a direct impact on one's financial situation without accompanying practical financial strategies.
  • The emphasis on acquiring knowledge and mentorship might overlook the fact that access to these resources can be limited by socioeconomic factors.
  • The idea that teaching and sharing knowledge is the greatest gift may not acknowledge the importance of other forms of support, such as ...

Actionables

  • Create a vision board that includes images and symbols of wealth to reinforce a positive financial mindset daily. By surrounding yourself with visual representations of your financial goals, such as pictures of places you want to travel, homes you aspire to own, or symbols of financial freedom, you'll constantly remind yourself of where you want to direct your financial energy.
  • Start a peer-to-peer financial growth book club to exchange knowledge and strategies on wealth-building. By reading and discussing books on financial literacy and wealth accumulation with friends or community members, you can gain new insights, hold each other accountable, and encourage the application of new financial behaviors.
  • Implement a "money date" into your week ...

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The Practical Guide To Making More Money in 2025

Time Management and Productivity Strategies For Building Wealth

Time management and productivity are key elements in creating long-term wealth, but as Rory Vaden points out, managing time effectively can require strategies against conventional wisdom to ensure long-term gains.

Time Management: Efficient but Lacks Long-Term Gains

Time Management Maximizes Productivity

Vaden discusses era one thinking, or the efficiency model, which was developed during the manufacturing boom of the 1950s and 60s. This model focuses on completing tasks faster but, as Vaden explains, can be like quicksand; the more you accomplish, the more work seems to crop up, showing diminishing returns over time as a stand-alone strategy.

"Multiplier" Mindset Creates Time Through Strategy

Evaluating Tasks by Long-Term Impact Over Urgency or Importance Spurs Time Multiplication

Introducing the concept of "multiplier" mindset, Vaden describes a shift in thinking—evaluating tasks based on long-term impact rather than just urgency or importance. This landscape defines ultra-performers who aim to create more time in the future through their actions today. Vaden presents a new era of time management he calls "multiplying," which focuses on the significance calculation—considering how long today's activities will matter.

Free Time for High-Leverage Activities By Eliminating, Automating, Delegating Tasks

Vaden continues by presenting the Focus Funnel process, where the initial step is to ask, "Can this task be eliminated?" If not, the next steps are to automate or to delegate, thereby creating a more efficient, long-term use of time. For example, setting up automated bill pay represents a positive "return on time invested" (ROTI), freeing future time for high-impact activities.

Prioritize Long-Term Wealth-Building Over Immediate Gratification

Successful People Sacrifice Short-Term Gains ...

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Time Management and Productivity Strategies For Building Wealth

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Clarifications

  • Era one thinking and the efficiency model, as discussed by Rory Vaden, relate to a traditional approach to time management that prioritizes completing tasks quickly. This mindset originated during the manufacturing boom of the 1950s and 60s, emphasizing speed and efficiency in task completion. However, Vaden suggests that this approach can lead to diminishing returns over time, likening it to quicksand where more work seems to appear as tasks are completed faster. The efficiency model focuses on getting things done swiftly but may not always result in long-term gains or sustainable productivity.
  • The "Multiplier" mindset in time management involves evaluating tasks based on their long-term impact rather than just their urgency or importance. It focuses on creating more time in the future through actions taken today. Significance calculation assesses how long today's activities will matter in the grand scheme of things. This approach aims to prioritize tasks that contribute significantly to long-term goals and wealth-building.
  • The Focus Funnel process is a method introduced by Rory Vaden to help individuals prioritize tasks effectively. It involves evaluating tasks to determine if they can be eliminated, automated, or delegated to maximize efficiency and create more time for high-impact activities. By following this process, individuals can focus on activities that contribute to long-term goals and wealth-building, rather than getting bogged down by low-impact tasks. The goal is to optimize time management by concentrating efforts on tasks that have significant long-term impact and align with one's overarching objectives.
  • Return on Time Invested (ROTI) is a productivity metric that evaluates the efficiency and outcomes of time spent on tasks or projects. It measures the value and impact generated from the time invested, similar to how Return on ...

Counterarguments

  • While time management is important, it is not the only factor in building wealth; market conditions, economic policies, and personal circumstances also play significant roles.
  • Efficiency in completing tasks does not always lead to productivity if the tasks themselves are not valuable or aligned with one's goals.
  • The efficiency model may still be relevant in certain industries or roles where output is directly tied to time invested, such as manufacturing or hourly work.
  • Long-term impact is important, but sometimes urgent or important tasks cannot be ignored as they may have immediate consequences that affect long-term goals.
  • The "multiplier" mindset may not be feasible for everyone, especially those in positions where they lack control over their workload or the autonomy to delegate.
  • The Focus Funnel process assumes that tasks can be easily eliminated, automated, or delegated, which may not be possible in all jobs or for all people.
  • Prioritizing long-term wealth-building over immediate gratification may not be practical for individuals with immediate financial needs or responsibilities.
  • Sacrificing short-term gains is not always possible or desirable, especially for those who may need to balance long-term ...

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The Practical Guide To Making More Money in 2025

Overcoming Mental/Emotional Blocks To Achieving Financial Success

The journey to financial success is not just a matter of strategy and knowledge, but also of conquering the mental and emotional barriers that can impede progress. Leaders like Ray Dalio, Jen Sincero, and Lewis Howes share their insights into the emotional underpinnings of financial blocks and how to overcome them.

Successful People Often Have Money Fears and Beliefs

Guilt, Shame, or Unworthiness Can Sabotage Wealth-Building Efforts

Jen Sincero discusses the negative connotations often associated with money, such as being dirty or taboo to discuss, and suggests that by not talking about money in a healthy way, people perpetuate a stigma that can create emotional barriers. Both Sincero and Howes have struggled with money, associating it with a lack of value or skill, and feelings of unworthiness, which could prevent them from achieving financial success. Confessing her own fears, Sincero admits worrying that all her money could disappear, suggesting that such fears are barriers to building wealth.

Addressing and Processing Emotional Barriers Is Essential

Self-Reflection, Coaching, and Financial Confidence Overcome Internal Blocks

Howes talks about the importance of discussing fears and insecurities, which implies that addressing emotional barriers is part of overcoming financial blocks. Sincero mentions the necessity of feeling the emotions that come with changing one's mindset around money, indicating that working through emotions is vital. She also highlights that adopting new thought patterns aligns with a truer identity that believes in abundance. Sincero and Howes discuss aligning desires with one's authentic self, implying that activities misaligned with personal values can create mental barriers related to money. Emphasizing actionable change, Sincero shares that investing in a coach and committing to change were crucial for her, highlighting the importance ...

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Overcoming Mental/Emotional Blocks To Achieving Financial Success

Additional Materials

Counterarguments

  • While addressing emotional barriers is important, it's also critical to acknowledge that financial success is not solely determined by mindset; external factors such as economic conditions, access to education, and systemic inequalities can play significant roles.
  • The idea that guilt, shame, or unworthiness can sabotage wealth-building efforts might overlook the fact that these emotions can sometimes be rooted in legitimate concerns about ethical wealth accumulation or societal impacts of wealth disparities.
  • The emphasis on self-reflection and coaching may not be accessible or affordable for everyone, suggesting that these methods could inadvertently reinforce privilege.
  • The narrative that aligning desires with one's authentic self helps overcome mental barriers related to money might oversimplify complex financial situations and ignore the practical steps needed to achieve financial stability.
  • The concept of a growth mindset and persistence as keys to breaking financial ceilings may not account for the reality that some individuals face insurmountable barriers due to circumstances beyond their control.
  • The assertion that staying wealthy is more challenging than becoming wealthy could be co ...

Actionables

  • Create a money mantra that resonates with your aspirations and repeat it daily to shift your mindset. Start by identifying a positive statement that reflects your desired financial identity, such as "I am capable of creating abundance in my life." Write it down and place it somewhere you'll see it every day, like on your bathroom mirror or as a phone wallpaper. This constant reinforcement can help reprogram your subconscious beliefs about money.
  • Start a 'Financial Emotions' journal to track and understand your feelings about money. Each day, jot down any emotions you experience when dealing with money, whether it's paying bills, receiving income, or making financial decisions. Over time, look for patterns and triggers that may be linked to negative feelings. This awareness can be the first step in breaking down emotional barriers and developing a healthier relationship with money.
  • Engage in a monthly ...

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