Money Grows on Trees: the Podcast

In this episode of "Money Grows On Trees," Lloyd Ross dives into the essential hack for taking control of your finances. The focus is on one crucial habit practiced by the wealthy and financially savvy – doing a regular financial audit. Inspired by personal experiences and philosophical insights, Lloyd emphasizes the importance of knowing where your money is going to achieve financial stability and success.

**Key Takeaways:**

1. **The Importance of Tracking Expenses:**

- Understand where your money is going to make prudent financial decisions.

2. **Lifestyle Creep and Entitlement:**

- Recognize how your spending habits reflect a sense of entitlement.

3. **Conducting a Financial Audit:**

- Download your bank statements and categorize your expenses.

- Perform this audit monthly to stay on top of your financial situation.

4. **Behavioral Economics:**

- Manage smaller emotional purchases to control larger financial decisions.

5. **Long-term Financial Benefits:**

- Create more savings to invest in starting a business, paying off debts, or funding an emergency.

**Actionable Advice:**

- Schedule a monthly financial audit in your calendar.

- Review your bank statement for the last 30 days and categorize your spending.

- Identify subscriptions or services that are non-essential and cut them out.

- Challenge yourself to reduce monthly expenses progressively.

**Listener Engagement:**

- If you found this episode helpful, please leave a 5-star review and share it with your friends.

- Follow the podcast for more no-nonsense financial education.

- Tag Lloyd Ross on Instagram and get a shoutout on his stories.

Who is The Millionaire Money Mentor, Lloyd Ross:

Lloyd James Ross serves as the Founder and Director of Money Buys Happiness LLC, a prominent company specializing in financial education, coaching, and engaging events.  

With a remarkable track record of entrepreneurial success spanning various industries, Lloyd has attained the highest echelons in both network marketing and digital marketing.   

He is celebrated as a 2-Comma Club Award Winner by Clickfunnels.com and holds the distinguished title of Legacy Club Millionaire with Isagenix LLC.   

Moreover, he’s the esteemed host of the critically acclaimed podcast, “Money Grows On Trees,” which boasts over one hundred 5-star reviews, and aims to achieve one million downloads by the end of 2024.  

Lloyd is a seasoned international platform speaker, captivating audiences of 7,000+ worldwide with his inspiring keynote presentations.  Beyond his professional endeavors, 

Lloyd is a devoted husband to his beloved wife, Alisha, and proud father of a charming sausage dog named Elvis.   

During his leisure moments, he immerses himself in writing books, globetrotting, and skillfully managing a personal multi-million-dollar share portfolio.  

Resources and Links:

Discover the three essential money skills you need to master if you want to achieve financial wealth. Host Lloyd Ross dives into actionable strategies for managing money, multiplying it, and making more, which are the pillars of financial success.

Have you ever wondered why focusing solely on money mindset might be holding you back? Want to know which behaviors you need to change to effectively manage your money? In this episode, Lloyd answers these questions and more, bringing clarity to your financial journey.

Curious about the best ways to multiply your money through smart investments? Or how enhancing your income can drastically accelerate your path to wealth? Lloyd breaks down these concepts with practical advice and real-life examples, ensuring you can put these lessons into action immediately.

Prepare to be inspired as Lloyd shares a key moment that could transform your financial perspective. Whether you're new to managing your finances or looking to refine your strategies, this episode is packed with valuable insights. Tune in next time to "Money Grows On Trees: The Podcast" for more expert advice and tips on mastering your money.

Summary:

Welcome to episode C0105 of Money Grows on Trees: The Podcast, hosted by financial expert Lloyd Ross. In this informative session, Lloyd delves into the critical question, "How do you get good with money?" You'll discover the three essential money skills that you need to master if you want to become wealthy. From managing your money effectively to multiplying it through investments and enhancing your income, this episode provides actionable steps to transform your financial future.

Timestamps:

- [00:00:01] Introduction: The Importance of Getting Good with Money

- [00:01:24] Money Skill #1: Managing Money (Behavior Management)

- [00:03:28] Money Skill #2: Multiplying Money (Investing Wisely)

- [00:06:01] Money Skill #3: Making Money (Generating Income)

- [00:12:44] Conclusion: Implementing the Three Skills for Financial Mastery

Key Takeaways:

1. **Managing Money:** Control your behavior towards money by budgeting and monitoring monthly expenses.

2. **Multiplying Money:** Invest your savings in scalable assets like real estate or index funds for long-term growth.

3. **Making Money:** Enhance your earning capacity by solving problems, acquiring new skills, and leveraging income opportunities.

Resources and Links:

Join Lloyd Ross in this insightful episode of "Money Grows On Trees: The Podcast," where he explores "The Magic of Thinking Small." Despite common advice to think big, Lloyd discusses the profound impact of starting small. From transforming a modest $2,000 investment into a million-dollar portfolio to the incremental steps necessary for significant growth, this episode is filled with practical advice for aspiring entrepreneurs and investors.

Timestamps

- **[00:00]** Introduction to "The Magic of Thinking Small"

- **[00:03]** The importance of realistic thinking in taking action

- **[00:31]** Lloyd’s journey: From a $2,000 investment to a million-dollar portfolio

- **[01:50]** Importance of starting small in public speaking

- **[03:26]** The role of network marketing in building speaking confidence

- **[04:22]** Embrace failure as a part of learning new skills

- **[07:20]** Building connections by simply saying “hello”

- **[09:25]** Vision boards and the power of small steps in achieving big goals

- **[11:01]** Importance of preparing for opportunities

- **[11:48]** Call to action and closing remarks

Host's Bio

**Host:** Lloyd Ross

**Background:** Lloyd Ross is a former lawyer turned successful lifestyle entrepreneur. He has garnered a wealth of experience in investing and entrepreneurship, which he shares through his podcast, books, and public speaking engagements. Lloyd is also known for his award-winning podcast, "Money Grows On Trees," where he inspires and educates listeners on achieving financial freedom.

Key Takeaways

1. **Start Small:** Every million-dollar portfolio begins with the first dollar.

2. **Incremental Growth:** Small steps accumulate over time to create significant success.

3. **Embrace Failure:** Every new skill starts with failure; don’t be afraid to suck at first.

4. **Build Connections:** Say hello to build your network—every connection starts small.

5. **Vision Boards:** Use vision boards to focus on and visualize small, actionable steps towards big goals.

Resources and Links

In this compelling episode of Money Grows on Trees: The Podcast, your host Lloyd Ross takes you on a journey through the importance of starting small in your financial and entrepreneurial endeavors. Breaking down the overwhelming notion of “thinking big,” Lloyd shares practical advice and personal anecdotes that highlight the critical first steps towards building wealth, developing new skills, and achieving grand goals. From investing your first dollar to networking by simply saying “hello,” this episode is packed with valuable insights that will transform your approach to money and success.

Timestamps:

- [00:00] - Introduction and Episode Overview

- [00:31] - The Power and Pitfalls of "Thinking Big"

- [01:10] - Starting Small: Lloyd’s $2,000 Investment Story

- [02:23] - The Journey from Small House Talks to Large Stage Presentations

- [03:46] - Embracing Failure as a Key Element of Skill Development

- [06:39] - Practical Networking Tips: Every Connection Starts with “Hello”

- [08:41] - Vision Boards: Turning Small Actions into Big Dreams

- [09:46] - Closing Remarks: Subscribe, Share, and Get Involved in the Community

**Lloyd Ross:**

Lloyd Ross is a former lawyer turned lifestyle entrepreneur and author of the best-selling book "Money Grows on Trees." With a wealth of experience in investment and entrepreneurship, Lloyd is passionate about empowering others to achieve financial freedom. He is a dynamic speaker who has inspired thousands through his public talks, workshops, and online content.

Key Takeaways:

1. **Start Small:** Understand the importance of starting with small, manageable steps towards your bigger goals.

2. **Overcome Fear of Failure:** Learn why embracing initial failure is crucial to developing new skills and achieving success.

3. **Networking Basics:** Discover how simple gestures like saying "hello" can open up enormous networking opportunities.

4. **Vision Boards:** Explore how creating vision boards can help manifest your financial and personal goals through focused actions.

5. **Incremental Growth:** Realize that every big achievement starts with small, consistent efforts.

Resources and Links:

- **Book Recommendation:** "The Magic of Thinking Big" by David J. Schwartz.

- **Lloyd’s Latest Book:**

In this enlightening episode of the *Money Grows On Trees* podcast, hosts Lloyd Ross and the Narrator delve into the powerful impact of mindset on investing. Lloyd reveals the transformative power of replacing one simple word in your investment vocabulary to become a better investor. Drawing inspiration from investment legends such as Warren Buffet and his mentor Benjamin Graham, Lloyd explains why viewing stocks as businesses can revamp your entire investment strategy, leading to more informed and profitable decisions. Tune in to discover how this small change can make a significant difference in your investment journey.

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## Timestamps

- **[00:00:03]** - Introduction and Welcome

- **[00:00:06]** - Overview of Investing in Stocks

- **[00:01:40]** - Philosophy Derived from Warren Buffet and Benjamin Graham

- **[00:03:25]** - Practical Examples of Treating Stocks as Businesses

- **[00:05:44]** - How Owning Stocks Translates to Business Ownership

- **[00:06:09]** - Call to Action and Closing Remarks

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### Lloyd Ross

Lloyd Ross is a former lawyer who transitioned into a lifestyle entrepreneur, focusing on financial education and investment. With a solid foundation built on principles learned from financial giants like Warren Buffet, Lloyd has successfully navigated the world of stocks, real estate, and alternative investments. He aims to demystify the complexities of investing for his listeners, helping them achieve their financial goals through practical advice and transformative insights.

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## Key Takeaways

1. **Mindset Shift**: Replacing 'stocks' with 'businesses' accelerates investment success.

2. **Warren Buffet’s Insight**: Use Buffet’s approach to view stocks as ownership in businesses.

3. **Long-Term Perspective**: Focusing on business quality rather than short-term price movements.

4. **Portfolio Diversification**: Understanding how index funds pool multiple reputable businesses.

5. **Analytical Approach**: Emphasizing research and due diligence in selecting which ‘businesses’ to invest in.

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## Resources and Links