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In this week’s episode we meet Mastery of Money Guru Adam Carroll.
Adam is an internationally recognised financial literacy expert, author and speaker. He is a two-time TED talk speaker, with one of his talks surpassing 2 million views. Adam is the founder and curator of www.MasteryOfMoney.com, and creator of the documentary film, Broke Busted & Disgusted.
His passion is helping people build a bigger life, not a bigger lifestyle.
WATCH ADAM'S TED TALK
QUESTIONS I ASK ADAM CARROLL
- What did you learn from your $10,000 experiment on your kids?
- How do we cultivate Owners Mentality in ourselves and our people?
- What is the biggest mindset shift you think we as individuals need to make?
- What do you mean by building a bigger life not a bigger lifestyle?
KEY POINTS BY ADAM CARROLL
- I think the biggest mistake is we wait. We wait for other people to recognise our greatness instead of claiming our greatness and helping other people see it.
- I've always in my life held high intention but low attachment. I have really high intention that things are going to happen, but I'm not directly attached to the outcome.
- A good friend of mine one time told me, “when something is placed on your heart, that idea that burning desire, that thing that you absolutely must go do, your head will attempt to justify. It will say no Greg you can't do that, you’re not old enough, wise enough, rich enough, famous enough, et cetera. But your heart will never justify. Your heart will always want what the heart wants because that’s what God put in your heart for you to go do or the universe or whatever being you believe in.” So, if there's something on your heart that continues to come up pursue it, go after it, it’s there for a reason and that is your service freedom. If you have re-orient your life to go do it by all means go do it.
- You said in Chief Maker (book) be bold and make a difference. Bold is not just offering help but it’s asking for help. Because when we don’t ask for help we deny someone the ability to offer help or to give help
- See yourself as the architect of your own life
- If you’re going to build a big life, you have to ask yourself really big questions. The questions that people would ask themselves were around, I don’t know how to do this but if I did, what would I do first? Or they would say, I really want to live a vacation lifestyle, what would I need to do to live a vacation lifestyle? Then they let those questions simmer in their subconscious. You know as well as I do that your subconscious mind is the most powerful super computer ever designed. Its goal is to answer the questions that are posed to it.
- There are three things required for shared ownership and I think that’s what you’re talking about is shared ownership. Not just one person owns it but everybody owns it, right. The three things required for shared ownership are information, so telling people all the information necessary to be informed of decisions that are being made. So information, decision making, meaning how many people are involved in the decision of do we do this, do we not, do we spend this money do we not, do we invest this do we not. The last thing is consequences. If there is information and there's decision making and there are consequences understood then we have shared ownership.
- Zig Ziglar says, money is not everything, it’s not the most important thing, but it certainly ranks right up there with Oxygen on the got to have it scale
- We will say and I have heard parents say I love my kids, I don’t want them to struggle. So as a result I take care of everything for them, I buy them what they need, I pay for their meals. When we go to the store and they want a toy I pay for it. So, what we started doing was saying I love my kids and I want them to struggle. Because people who struggle financially especially when they’re young and they make solid decisions with small amounts of money they become really successful adults who make solid decisions around large amounts of money. So that’s the goal is we try and give our kids the ability to make mistakes around money at a very early age so we can correct and change their behaviour down the road.
- I will greet each day with love in my heart. The whole idea was that love is the greatest weapon and the greatest shield because no one that I encounter when I use love can defend against itfe differently than lifestyle, is life for me is about financial freedom, it’s about time freedom, it’s about relationship freedom and it’s about service freedom, those four things, money, time, relationships and service. If I have the freedom to do all those four things I have a real big life.
- Behaviour is multi causal, it’s multi functional and it’s multi dimensional. So, we don’t know why people behave the way they behave, nor can we assume to know because there are so many different things that can impact behaviour.
CONNECT WITH ADAM CARROLL
- Listen to his epic podcast here: Build a Bigger Life
- Read his blog here: Mastery of Money.
- Watch his movie here: Broke, Busted and Disgusted.
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