Check the transcript of the video here:

Hi, my name is Maciej Stanek, financial advisor at Veurr. In this series of videos about wealth creation habits, I will illustrate how your repetitive habits impact your wealth creation again and again.

Before we delve into challenging your thinking, I have a question for you. Have you ever heard someone say, The rich get richer and the poor get poorer?” If you have, you may just think to yourself that because you’re not rich, you cannot be. In my opinion, the person making this statement was actually implying that the rich are getting richer at the expense of the poor getting poorer. I will explain in the following videos why I don’t believe this statement to be true.

Now, there are many instances why the rich prey on the poor to increase their own wealth, but I also question, what are the rich doing to get richer that the poor can learn from? I’ll show you that it’s not money on its own that grows wealth. It’s the habits of the individual managing that money to grow wealth, or in some examples, lose wealth. The chart of the five potential trajectories for one’s wealth is shown here. It’s based on the habits of how an individual manages their wealth. Line A, B, C, D show habits that can be improved. While line E shows the wealth trajectory of someone who understands which habits are detrimental to their wealth creation and has learned how to nurture the habits that lead to financial freedom.

To really be wealthy, you first need to acknowledge that wealth is a privilege. It is a skill to both obtain and retain wealth. So if you want to learn these skills, you first need to respect money, then understand which habits you have that stop you from being financially free. Only when you acquire this knowledge can you learn to understand what you need to change about yourself and be willing to make that change. If you start believing statements like, “I don’t need to be rich to be happy,” or “I want to live for today because tomorrow I could be hit by bus,” then you haven’t fulfilled the respect for money portion of this exercise and you will not be able to achieve financial freedom. If you’re willing to challenge yourself, watch the next four videos and maybe learn something new about money and about yourself.