Think Like A CFO Podcast

Building Wealth, Not Riches

November 30, 2020 Melissa Houston Episode 11
Think Like A CFO Podcast
Building Wealth, Not Riches
Chapters
2:18
What does ‘wealth’ mean?
4:53
We find our strength and story in hard challenges
6:06
Money alone doesn’t change who you are
7:18
You got a big raise — now what?
11:20
Money management determines your wealth
12:20
How to calculate your personal net worth
13:26
Why the showmanship of wealth doesn’t matter
15:43
Cultivate your millionaire mindset
18:01
Two very good reasons to know your personal net worth
18:18
4 motivating factors to get you started!
Think Like A CFO Podcast
Building Wealth, Not Riches
Nov 30, 2020 Episode 11
Melissa Houston

“Money management is the key to building your wealth.” - Melissa Houston

What is wealth?

Wealth is an abstract concept that holds different meanings for different people.

The dictionary calls it “an abundance of valuable possessions or money.” Some people say that while rich people have money, a wealthy person’s money is sustainable. It’s also been defined as “the ability to survive a certain number of days forward.”

People have a lot of ideas about what wealth means! And while I value intangible wealth — being rich in things such as gratitude, love, friendship, happiness — I want to help you grow and nurture your monetary wealth, so that you can focus on those intangible riches without having to worry about your bank balance and budget.

Wealth is about more than just your salary or bonuses or the value of your home. It’s in how you manage your money — and how you spend it. You can’t judge a person’s level of wealth based on the number of shiny, luxury possessions they own, or even their yearly income. There are many things that will affect your ‘real’ level of wealth, including lifestyle inflation or creep, poor investments, your level of debt, your expenses, and wealth showmanship.

Millionaires like to own assets, not debt. And this podcast episode is all about getting into that millionaire mindset!

“The most surprising millionaires are the ones who don’t have a lot of flashy purchases and don’t look the part of being wealthy. Because what they’ve done is invested their money and gotten their money to work for them.” - Melissa Houston

In this episode, we’ll explore:

  • What a big salary bump really means pay period to pay period — and how quickly you can negate it without realizing
  • The formula to calculate your personal total net worth — and two reasons to figure it out today 
  • The top pitfalls that people fall into when they start making more money and how to avoid them

Highlights:

  • 01:00  What does ‘wealth’ mean? 
  • 03:35  We find our strength and story in hard challenges
  • 04:48  Money alone doesn’t change who you are
  • 06:00  You got a big raise — now what?
  • 10:02  Money management determines your wealth
  • 11:02  How to calculate your personal net worth
  • 12:08  Why the showmanship of wealth doesn’t matter
  • 14:25  Cultivate your millionaire mindset
  • 16:43  Two very good reasons to know your personal net worth
  • 17:00  4 motivating factors to get you started!

Links:

Debt.org
https://www.debt.org/

The 4-Step Roadmap to Biz Finance Freedom

https://melissahoustoncpa.lpages.co/4-step-biz-finance-roadmap

Work with me

https://www.melissahoustoncpa.com/work-with-me

Want more tips and inspiration? Follow me on Twitter @melissahcpa and Pinterest @melissahoustoncpacga and visit my website: https://www.melissahoustoncpa.com

Show Notes Chapter Markers

“Money management is the key to building your wealth.” - Melissa Houston

What is wealth?

Wealth is an abstract concept that holds different meanings for different people.

The dictionary calls it “an abundance of valuable possessions or money.” Some people say that while rich people have money, a wealthy person’s money is sustainable. It’s also been defined as “the ability to survive a certain number of days forward.”

People have a lot of ideas about what wealth means! And while I value intangible wealth — being rich in things such as gratitude, love, friendship, happiness — I want to help you grow and nurture your monetary wealth, so that you can focus on those intangible riches without having to worry about your bank balance and budget.

Wealth is about more than just your salary or bonuses or the value of your home. It’s in how you manage your money — and how you spend it. You can’t judge a person’s level of wealth based on the number of shiny, luxury possessions they own, or even their yearly income. There are many things that will affect your ‘real’ level of wealth, including lifestyle inflation or creep, poor investments, your level of debt, your expenses, and wealth showmanship.

Millionaires like to own assets, not debt. And this podcast episode is all about getting into that millionaire mindset!

“The most surprising millionaires are the ones who don’t have a lot of flashy purchases and don’t look the part of being wealthy. Because what they’ve done is invested their money and gotten their money to work for them.” - Melissa Houston

In this episode, we’ll explore:

  • What a big salary bump really means pay period to pay period — and how quickly you can negate it without realizing
  • The formula to calculate your personal total net worth — and two reasons to figure it out today 
  • The top pitfalls that people fall into when they start making more money and how to avoid them

Highlights:

  • 01:00  What does ‘wealth’ mean? 
  • 03:35  We find our strength and story in hard challenges
  • 04:48  Money alone doesn’t change who you are
  • 06:00  You got a big raise — now what?
  • 10:02  Money management determines your wealth
  • 11:02  How to calculate your personal net worth
  • 12:08  Why the showmanship of wealth doesn’t matter
  • 14:25  Cultivate your millionaire mindset
  • 16:43  Two very good reasons to know your personal net worth
  • 17:00  4 motivating factors to get you started!

Links:

Debt.org
https://www.debt.org/

The 4-Step Roadmap to Biz Finance Freedom

https://melissahoustoncpa.lpages.co/4-step-biz-finance-roadmap

Work with me

https://www.melissahoustoncpa.com/work-with-me

Want more tips and inspiration? Follow me on Twitter @melissahcpa and Pinterest @melissahoustoncpacga and visit my website: https://www.melissahoustoncpa.com

What does ‘wealth’ mean?
We find our strength and story in hard challenges
Money alone doesn’t change who you are
You got a big raise — now what?
Money management determines your wealth
How to calculate your personal net worth
Why the showmanship of wealth doesn’t matter
Cultivate your millionaire mindset
Two very good reasons to know your personal net worth
4 motivating factors to get you started!