Unlocking Wealth: Transform Your Relationship with Money with Aaron West

It's time to take control of your financial future and unleash your wealth potential. It’s much easier to be in a good mood when your money is right. This week on The Good Mood Money Show, Matt O'Neill sits down for an insightful discussion with renowned wealth-builder Aaron West. 

Learn action steps like tracking net worth for clarity and opening a "not my money" savings account. Aaron also reveals how to overcome fear-based thinking through developing an abundant mindset. 

Here are some power takeaways from today’s conversation: 

• Reframing your relationship with finances

• How underlying emotions shape our money mindsets

• Creating a “not my money” account

• Figuring out your net worth

• The difference between a doer and a sayer

[08:44] How Underlying Emotions Shape Our Money Mindsets

Fear is often at the root of dysfunctional or limiting beliefs around finances. Spenders fear scarcity so they spend freely without regard for the future. Savers fear risk so much that they don't allow their money to work for them through prudent investing. Aaron created a "not my money" account to automatically transfer portions of each paycheck, shifting his mindset from spender to saver by separating funds for spending versus long-term investing and wealth-building.

[17:42] Figuring Out Your Net Worth

Aaron emphasizes that the very first step to improving your relationship with money is to calculate your net worth. Even if the number is low or negative, gaining clarity on your financial position is hugely important for making better decisions going forward. It provides a baseline to measure progress. Most people don't truly know where they stand financially. Taking just 10 minutes to add up assets, subtract liabilities, and determine one's net worth is a game-changing first move toward financial literacy and success.

[28:22] The Slow and Steady Path to Wealth

It's not about waiting to "hit a home run" but making a committed decision to prioritize wealth growth and start taking small, consistent steps to level up your financial life. True success comes from embracing the process of continually becoming a new, empowered version of yourself equipped to achieve greater goals.

[34:12] Sayers vs. Doers: Why Actions Get Results

Aaron emphasizes the importance of being a "doer" rather than just a "sayer" when it comes to building wealth and success. Many people will say they want to improve their financial situation, but true transformation comes from those who take action and do the work. 

Notable quotes:

[05:19] Money is just a tool. It's a pawn that we use in our lives to be able to win our own personal game of chess or our own personal game of life. [05:30]

[15:19] Money is the tool of our life, that by having the right mindset and tools in your arsenal, you're able to accomplish so much more. [15:30]

[17:10] Wealth is abundance. Rich is a state of account. Wealth is a state of mind. [17:15]

[23:29] Discipline is the secret to building wealth. [23:31]

Resources Mentioned: 

Instagram: @theaaroncwest

Secrets of the Millionaire Mind by T. Harv Eckert

Happy Money by Elizabeth Dunn and Dr. Michael Norton

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About the Guest 

Aaron West is a successful real estate investor and goal setting expert who grew up with limited financial resources but has built wealth over 20 years through real estate investing and helping others improve their relationship with money.