Make more money! 3 wealth hacks from Millionaire Mentor Scott Harris
Scott Harris – aka – The Millionaire Mentor is a leading Australian speaker, coach and mentor who has travelled the world to connect with individuals, businesses and large audiences to help them create great success – financially, physically and emotionally. He’s transformed the wallets and lives of people around the globe so it was only fitting we had him on The Wealth Faculty Podcast to understand where wealth comes from and how you can get more of it. I hope you enjoy our chat!
Scott Harris knows a thing or two about wealth.
He’s worked with some of the world’s most influential forces including Tony Robbins, Richard Branson, Robert Kiyosaki and even Donald Trump. With over 20 years’ experience – Scott has dedicated his entire adult life to growth and teaching the importance of financial responsibility.
But Scott hasn’t always been the savvy and successful entrepreneur you see today. His early career was a whirlwind of long hours, burnout and feeling like he was on a financial merry-go-round.
“I was literally cranking out 60, 70, 80 hours a week, as many Australians who are working in their own business do, and realised that the minute I stopped doing it, then it all stopped,” Scott says.
He was determined to understand wealth psychology and why some people seemed to be able to create it for themselves, while others just simply never got there.
“The way you get better at anything is you study the people that have gone before you and created wealth.”
From that point onwards Scott has never stopped studying or growing in the field of wealth creation. Here’s what he’s learnt.
Change Your Money Mindset
From working along-side many successful figures, Scott discovered there was one common denominator with them all. Wealth was made in their mind.
“When I realised this, I thought, well, that’s good because I’ve got a mind. And then I thought– how come I haven’t got the money? And I realised it’s because I had a dirty mind,” Scott says.
Having grown up in a typical Australian, middle-class household, the Millionaire Mentor’s childhood was filled with beliefs that focusing on money was bad, and that if you’re driven by money, that you’re selfish or shallow-minded.
“Everybody taught me the same thing. Rich people are different from you and I. Money is for them and we’re just working class, middle class Australians,” Scott recalled.
Through his own self-development journey, he began to understand that the amount of money he had at the time – both in income and in wealth was directly his responsibility.
“It’s really easy to go, no, no, it’s the economy’s fault. It’s my ex-spouse’s fault. It’s the business’s fault. I’m a good person doing a good job… it’s not my fault I’m not rich.
“When we take a step back to evaluate our money mindset it’s clear that our beliefs and feelings around wealth are the biggest factors that impact how much money we have. If we believe money equates to greed, we’re never going to move past the barriers that presents.”
By reflecting on his own money mindset, the now financial expert, was not only able to reset the programme, but he was also able to change his entire relationship with money. This meant a massive shift from thinking money was bad and dirty, to money being a portal of opportunity, growth and the ability to add real value to the world.
Have a clear vision for each chapter of your life.
Money, in isolation is useless, and that is one thing Scott stresses. Money needs to be met with a clear vision in order to create success.
“At 35, if you’re 28, what house do you want to be in? Has it got three rooms or five rooms? Is it on the water? Is it in the city? What car do you want to drive?”
It may seem overwhelming to be making these decisions so far in advance, but according to Scott, clarity is key. Knowing what your future looks like and then breaking it down into goals that you can achieve each month, quarter and year is the cornerstone of reaching your vision and your potential.
For Scott who has a young child at age 50, he’s already got in place a plan for the next 11 years until his son finishes high school.
“I’ll be 62. I know what house I want to be living in, what boat I want to be driving, truthfully – the holiday houses we want to have, how much we want to spend on kids fees to school…I’ve got all of that written down,” he admits.
Scott’s advice – it you want it, have a clear vision and then go after it.
There’s a reason why emergency funds exist.
If there is one thing Coronavirus has made clear, it’s that there are a lot of people who don’t have an emergency fund for when sh*t hits the fan.
“We call it a ‘sleep at night fund’. Have I got 6 to 12 weeks of groceries, mortgage and petrol payments in a bank somewhere?
“If the world shuts down and it has, I’ll be okay,” Scott says.
He hopes Australians learn from the COVID-19 crisis, leaving us with a strong, yet appropriate statement.
“Once you’re financially safe, you can focus on being financially free – and this is where wealth creation truly begins.”
To learn more about how you can create long-term and financially sustainable wealth, join us for a free property investor masterclass.
There are limited spots available, so to secure your seat here – Property Investing Seminars.
By Jason Whitton – Founder of Positive Real Estate