AI Hustle Talk
AI Hustle Talk is a high-energy podcast that breaks down how AI is revolutionizing business, entrepreneurship, and personal growth. Hosted by Zay & Rico, it’s all about leveraging AI to work smarter, scale faster, and hustle harder—giving listeners the tools, mindset, and motivation to stay ahead in the digital age. 🚀🔥
AI Hustle Talk
From Financial Stress to Success: Turning Pain into Power
Money worries strike with a unique kind of double-edged anxiety - pressing you with both immediate bills and fears about the future. But what if that very pressure could transform into your most powerful catalyst for change?
This deep dive explores how financial challenges, regardless of their severity, can become the foundation for building genuine wealth and freedom. By weaving together practical wisdom from Rachel Cruz's stress-reduction techniques, Myron Golden's wealth-building framework, and psychological insights on our emotional relationship with money, we've created a comprehensive roadmap for financial transformation.
The journey begins with radical honesty about your current situation. Many avoid looking at their finances out of fear, but simply quantifying the problem often reduces its emotional weight. From there, establishing conscious control through budgeting shifts your relationship with money from reactive to proactive. For those carrying debt, we explore how the "debt snowball" method creates psychological momentum through quick wins.
Beyond these fundamentals lies the true game-changer: shifting focus from the income-outgo cycle toward strategically building income-producing assets. As Golden explains, financially successful people view money as a tool for creating cash flow rather than just accumulation. His framework distinguishes between four financial "windows," with sustainable wealth coming from the consistent development of assets that generate income without constant labor.
The psychological dimension proves equally vital. Your financial strategy must align with your values and temperament to remain sustainable. Like planting an oak tree, wealth building requires patience through periods of invisible growth. Building margin throughout your financial life provides both protection from setbacks and the confidence to seize opportunities.
Have you identified the specific pain points in your financial journey? How might you channel that frustration into strategic momentum? The transformation begins when you decide your current challenges won't define your story - they'll fuel your success.
Welcome everyone. Let's dive right in. Today we're talking about something pretty fundamental.
Speaker 2:Yeah.
Speaker 1:Taking the challenges you're facing maybe that pain or pressure and actually using it. Using it to build real, lasting success, and it really doesn't matter where you're starting from. This is all about moving forward.
Speaker 2:Exactly, it's about seeing those tough times not just as roadblocks, but maybe as fuel fuel yeah. I like that our conversation today.
Speaker 1:We're pulling from a few really insightful sources aiming to give you a practical path forward you know that feeling that weight of financial stress, rachel Cruz in her video she really gets into that she does. She makes a big point that hey, if you're feeling that, pinch that, that money anxiety you are absolutely not alone, so common it hits people everywhere. It doesn't matter the income level, really it doesn't and she used that inside out analogy, which I thought was quite good.
Speaker 2:Oh, yeah, tell me.
Speaker 1:Well, anxiety is focused on the future, right yeah, what might happen? And fear is about the threat right now.
Speaker 2:Ah, ok, got it.
Speaker 1:And with financial stress, it's like you're getting hit with both worrying about the bills today and what happens tomorrow or next year.
Speaker 2:That's such a good way to put it A double whammy, worrying about now and later.
Speaker 1:Right, maybe you're stuck in a job you don't love, just to make ends meet or just constantly juggling numbers in your head.
Speaker 2:Survival mode.
Speaker 1:Exactly, and that's where this other piece, the AI Hustle Talk segment, comes in with a pretty strong message which is, basically, that this struggle, this pressure, it doesn't have to be your whole story. It could actually be the spark, you know the. Thing that pushes you to build something better.
Speaker 2:I find that shift in perspective really fascinating. Instead of seeing hardship as just a trap, it becomes the motivation. I mean, think about it. So many successful people started with huge obstacles. The change often happens when you just decide okay enough, I'm doing something different.
Speaker 1:And that is exactly what we want to help you figure out today how to make that shift.
Speaker 2:So we've got Rachel Cruz's practical advice. You figure out today how to make that shift. So we've got Rachel.
Speaker 1:Kruse's practical advice, tackling that stress directly. Yep.
Speaker 2:Then Myron Golden's insights on building wealth even from square one. And that straight talk from AI Hustle Talk about breaking free from just surviving day to day.
Speaker 1:Plus, we'll dip into some key ideas from the psychology of money, because, let's face it, money is emotional.
Speaker 2:Absolutely so. Our mission here is to boil all this down. Actionable steps, yeah, but also a perspective shift.
Speaker 1:Right To help you take control, build a solid foundation and really get that strategic mindset for success, no matter what your bank account looks like right now.
Speaker 2:Yeah, Sounds like a plan.
Speaker 1:Okay, so let's get practical. If you're feeling that financial squeeze, where on earth do you even start?
Speaker 2:Well, rachel Cruz is really clear on this. The absolute first thing get honest about where you are right now financially.
Speaker 1:Gonna rip the bandaid off, basically Pretty much.
Speaker 2:you can't figure out where you're going if you don't know where you're starting. Cruz often talks about her baby steps framework to help organize things Like do you have even a small emergency fund? What debt are you dealing with? What's the bigger picture?
Speaker 1:And it feels like sometimes the worry in your head is actually worse than the reality on paper.
Speaker 2:Often yeah.
Speaker 1:Cruz mentioned that old habit people have of just avoiding the bills piling up, sticking their head in the sand, avoidance. And with everything being digital, now she suggests, you know, actually log in, look at the accounts, face the numbers.
Speaker 2:Yeah.
Speaker 1:And surprisingly, just seeing it, the real situation can kind of take the emotional edge off, brings in some logic. Why do you think people avoid that first step so much? Is it just fear of the numbers?
Speaker 2:Well, that's a great question. I think part of it is just human nature, right? We tend to avoid uncomfortable things.
Speaker 1:True.
Speaker 2:And facing your finances head on can feel huge overwhelming. There's a fear of what you might find, definitely, but, like you said, the unknown, that vague anxiety, is often way worse than the actual quantified reality.
Speaker 1:Okay.
Speaker 2:So taking inventory, it's about swapping that fuzzy worry for cold hard facts, which then lets you actually make a plan.
Speaker 1:Right, okay, so step one, face the music. Step two from Cruz.
Speaker 2:Budget Create a monthly budget and actively track where the money is going. Ah the B word. The B word, but she really hammers this home. Get control by knowing exactly where every single dollar is headed. It needs a plan.
Speaker 1:It's not about restriction, though, is it? That's the common misconception.
Speaker 2:Not at all. It's about making conscious choices. You decide how your resources are used. When you know where it's allocated, you lose that feeling of money just vanishing.
Speaker 1:Yeah, into the ether.
Speaker 2:Exactly, and it empowers you to adjust to make sure your spending actually lines up with what you want. She mentions the EveryDollar app, things like that. The key is connecting it to your accounts for real-time tracking.
Speaker 1:Makes sense, okay, and then step three, which seems obvious, but maybe isn't always easy.
Speaker 2:Paying off debt. If you have it, start attacking it aggressively.
Speaker 1:Fewer payments equal less stress. It's a simple equation she uses.
Speaker 2:It really is. Debt is just this constant weight, a huge source of stress. So having a strategy to get rid of it is vital.
Speaker 1:She often talks about the debt. Snowball right Small step first.
Speaker 2:Yeah, that's a common recommendation from her. Pay off the smallest one first. Forget the interest rate for a moment. Get that quick win.
Speaker 1:Build momentum.
Speaker 2:Exactly, it's psychologically powerful, keeps you motivated.
Speaker 1:Now this next point from Cruz is interesting. She suggests working with a financial coach, Saying you know, managing money should be done alone, Whether you're single, married, whatever.
Speaker 2:Get an objective view that outside perspective can be incredibly valuable totally, but a coach sounds helpful definitely.
Speaker 1:Are there maybe more uh, budget-friendly ways to get that accountability, especially if you're just starting out and money is super tight?
Speaker 2:yeah, that's a really practical point. A pro coach is great, but maybe not the first step for everyone. Chris actually mentions this can just start with an honest chat.
Speaker 1:With who?
Speaker 2:A trusted friend, maybe Someone in the family who's actually good with money.
Speaker 1:Okay.
Speaker 2:Or even online communities. There are tons of forums and groups where people share experiences, offer support. The key is just finding someone who can offer a different viewpoint and help you stick with it.
Speaker 1:Right Accountability partner. Okay, and for anyone feeling that real pinch, step five is about boosting income.
Speaker 2:Side hustle time.
Speaker 1:Yeah, explore, getting a side hustle, cruz emphasizes. Look, this might not be forever, but it can give you immediate relief, help you speed things up with your plan, like paying off debt or building that emergency fund.
Speaker 2:And she gives real examples right.
Speaker 1:Yeah, practical stuff, retail work, maybe teaching a skill you have, tutoring, even just babysitting, pet sitting, whatever you can realistically do to bring in some extra cash temporarily.
Speaker 2:And this ties right into what the AI hustle talk folks are saying especially if you feel stuck in survival mode.
Speaker 1:How so.
Speaker 2:Well, they really push the idea of increasing your income as the way to get breathing room, break that cycle of just scraping by.
Speaker 1:Oh, okay.
Speaker 2:They focus on identifying a skill maybe one you already have or one you can learn quickly, and then just offering it to the market.
Speaker 1:They mention things like content creation, basic graphic design, maybe copywriting.
Speaker 2:Exactly Customer service roles, even just buying stuff and reselling it. Find something tangible you can offer and start making money, like now.
Speaker 1:And that AI hustle talk piece really stressed taking action, didn't it Like right away?
Speaker 2:Yes, don't wait for perfect. Start where you are, even if it's messy, even if you're unsure.
Speaker 1:Bet on yourself.
Speaker 2:Bet on your ability to learn, to grow, get new skills that people actually need. It lines up perfectly with Cruz's side hustle idea proactively grab the reins of your income.
Speaker 1:Okay, good connection. Now, before we move on from Cruz, she slipped in a bonus tip.
Speaker 2:online safety, oh yeah, super important today. Scams are everywhere.
Speaker 1:Definitely Protecting your personal info online. It's part of financial health now, isn't it?
Speaker 2:Absolutely fundamental. Services that help scrub your data from those broker sites can add a real layer of security, peace of mind.
Speaker 1:Worth looking into. Okay, back to our main eight ways. Number six gratitude. Make a gratitude list. Celebrate small wins.
Speaker 2:Now this one might sound a bit fluffy, especially when you're really struggling.
Speaker 1:Right Feels counterintuitive, but Cruz insists it makes a difference. Our mindset influences our actions, she says.
Speaker 2:And there's a real connection there isn't there between our mental state and our money reality. Acknowledging the hard stuff is important, yes, but constantly dwelling on it, that can be paralyzing.
Speaker 1:So gratitude helps shift focus.
Speaker 2:Exactly Actively focusing on what you do have. Even tiny things can change your perspective, build belief that things can get better. She suggests just writing down one or two things each day, simple.
Speaker 1:Okay, Step seven always have a future goal. You're working towards.
Speaker 2:Direction.
Speaker 1:Cruz uses her baby steps as a framework. Sure, but even within those, break it down, make it manageable. So if the big goal is say, debt freedom, your immediate goal might just be paying off that smallest debt we talked about.
Speaker 2:Or saving the first $500 for emergencies.
Speaker 1:Yeah, it gives you that sense of direction, like you said, and progress, which you need to stay motivated. Celebrating those little milestones keeps you going.
Speaker 2:Keeps you engaged in the whole process definitely.
Speaker 1:And finally, number eight from Cruz start giving.
Speaker 2:Okay, another potentially counterintuitive one. If money's tight, right.
Speaker 1:She acknowledges that, but Medina's argues that even small acts of generosity can shift how you feel about money, bring a sense of fulfillment.
Speaker 2:That generosity piece can be surprisingly powerful. It moves the focus from what you lacked to what you can offer. Even if it's just a little bit, it's about seeing the positive impact money can have for you and others. That can be really empowering, actually.
Speaker 1:Okay, so Cruz gives us these really concrete steps Tackle the stress, get control. Now let's pivot a bit.
Speaker 2:Let's talk wealth building Myron Golden.
Speaker 1:Yeah, his perspective on actually building wealth, especially if you're just starting. He kicks off with a pretty fundamental question.
Speaker 2:Which is.
Speaker 1:Do you just want to be comfortable or do you really want to create significant, lasting wealth?
Speaker 2:He immediately challenges how most people think about money. Suggests that wealth building feels hard until you get the principles.
Speaker 1:Right he says. Once you understand it, you might wonder why it ever seems so complicated.
Speaker 2:A key point he makes is that many people just lack a clear definition of what wealth even is or, like, what's the real purpose of money beyond paying bills.
Speaker 1:He uses this analogy building a financial house. Yeah, truth is the foundation.
Speaker 2:OK.
Speaker 1:Then he talks about different windows income, like from your job, then income producing assets or IPAs, then wealth reducing liabilities, wrlrls, and finally outgo your expenses.
Speaker 2:Got it Income assets, liabilities outgo.
Speaker 1:And he points out, most people, especially if they're struggling, they're laser focused on that income window.
Speaker 2:With the paycheck.
Speaker 1:Exactly, and then watching that money flow straight out the outgo window for bills and living costs. And when he says wealth reducing liabilities, he means things like high interest credit cards, stuff that drained you.
Speaker 2:Right Debt that costs you money instead of making you money.
Speaker 1:What's insightful is how he reframes cash itself. He says people struggling financially they just focus on paying bills period Middle income folks Often they focus on paying bills on time. Why? To keep good credit so they can get more wealth-reducing liabilities.
Speaker 2:Ooh interesting point. Like car loans, bigger mortgages.
Speaker 1:Exactly. Their focus is still mostly on that income-in out-go-out cycle, often fueled by taking on more debt.
Speaker 2:So where do the wealthy focus? According to Golden.
Speaker 1:The income-producing assets window. That's the key.
Speaker 2:IPAs.
Speaker 1:Right producing assets window. That's the key IPAs. Right, Strategically putting some of your money and, crucially, your time into things that will generate more money over time. He admits yeah, at first these assets might not produce much.
Speaker 2:And that's where people get discouraged.
Speaker 1:Totally. They give up too soon.
Speaker 2:This really brings up that idea of delayed gratification, doesn't it, which the psychology of money also talks about?
Speaker 1:Absolutely Golden stresses, sacrificing some immediate pleasure for long-term gain.
Speaker 2:Investing in things that might not pay off right away but could be huge later, Like planting a seed, he says, takes time, effort.
Speaker 1:Right. He mentions things like dividend stocks, maybe creating and selling a digital course, stuff that might start small but builds.
Speaker 2:And as those IPAs start to grow, what happens then?
Speaker 1:Golden explains. Eventually they can generate enough income on their own to cover your regular bills, maybe even pay off those wealth-reducing liabilities.
Speaker 2:Ah, so the assets start paying the bills.
Speaker 1:Exactly. He used his own books as an example, assets that make passive income month after month, long after he wrote them. And just to clarify passive income means money coming in with minimal ongoing work.
Speaker 2:That's a powerful shift, isn't it? From trading your time directly for money to building things that work for you.
Speaker 1:Yeah, he says, if your only asset is your job, your time, you're always on that hamster wheel. Got to go out and earn it.
Speaker 2:The goal is building a portfolio of assets that bring in money without you having to constantly labor for it.
Speaker 1:Golden then makes this really interesting distinction Cash accumulation versus cash flow.
Speaker 2:Accumulation versus flow.
Speaker 1:He argues cash flow is way more important, uses the Dead Sea metaphor.
Speaker 2:How does that work?
Speaker 1:The Dead Sea has water flowing in but no outlets, so it gets stagnant, salty. He suggests. If your money just piles up, accumulates and doesn't flow into creating more assets, it becomes like a Dead Sea of cash.
Speaker 2:Hmm, that's provocative, because usually saving is seen as the ultimate goal.
Speaker 1:Right, but Golden argues that financially successful people see money as a tool to be used actively, especially to buy or build more income producing assets that generate flow.
Speaker 2:So strong ongoing cash flow is more valuable long term than just a big pile of stagnant cash.
Speaker 1:That's his argument. And then he takes another step. Yeah, cash perpetuation.
Speaker 2:Perpetuation, making it last.
Speaker 1:Yeah, making sure your wealth keeps flowing even after you're well gone or no longer managing it. He says it's not just about hitting a magic number.
Speaker 2:It's about the system.
Speaker 1:Exactly A system Assets that keep producing using tools like life insurance, maybe to pass wealth efficiently to the next generation.
Speaker 2:That idea of legacy generational wealth, that's thinking really long term.
Speaker 1:It is, and he stresses you also have to pass on the knowledge, financial literacy for the kids so they can manage it, keep it flowing, not just blow through it.
Speaker 2:Makes sense. You need both the assets and the know-how.
Speaker 1:So Golden really gives us this different lens, doesn't he Shifting from just paying bills to strategically building those income generating assets?
Speaker 2:It's a definite mindset shift.
Speaker 1:Now let's layer in some of those key lessons from the Psychology of Money. One big takeaway from that book is how much our emotions drive our financial decisions, often more than pure logic.
Speaker 2:Yeah, that connects directly back to Rachel Cruz talking about fear and anxiety around money stress.
Speaker 1:Totally. The book shows even like Nobel Prize winning economists make emotional money choices. The example of Harry Markovits.
Speaker 2:The portfolio theory guy.
Speaker 1:Yeah, he apparently chose a simple 50-50 stock bond mix, not because his model said it was optimal, but because it let him sleep at night.
Speaker 2:Wow, that says a lot. Your strategy, whatever it is, it has to feel right to you Emotionally.
Speaker 1:Exactly. If your financial plan constantly stresses you out, you're probably not going to stick with it long term.
Speaker 2:The book even suggests maybe choosing investments you're actually interested in, even if they aren't the highest return potential. That connection helps you stay committed.
Speaker 1:It's about sustainability for yourself.
Speaker 2:Right. It's not just avoiding negative stuff like stress. It's about building real conviction in your approach. That's what gets you through the inevitable bumps in the road. Market swings, whatever critical for long-term success.
Speaker 1:Which leads perfectly into the second big lesson from that book.
Speaker 2:Yeah.
Speaker 1:The real secret isn't hitting home runs.
Speaker 2:It's just staying in the game.
Speaker 1:Exactly Consistently staying invested over time. Patience and time those are your biggest assets.
Speaker 2:The book lays out the data pretty clearly. The longer you stay invested in the market, the higher your odds of actually making money become Significantly higher.
Speaker 1:It's about consistent participation, not trying to perfectly time the market highs and lows. Nobody can do that consistently.
Speaker 2:They use that lovely analogy Planting an oak tree.
Speaker 1:Oh yeah, I like that one.
Speaker 2:You don't see much dramatic growth at first. Right, the first few years is all about putting down deep roots. But over decades that slow, steady growth turns into something massive. Strong investing is like that patience, consistent contributions that yields the big results over time and that really circles back to why you need an approach you believe in emotionally. Right, because when the market inevitably tanks, that conviction is what stops you from panicking and selling at the worst possible time. It gives you resilience.
Speaker 1:OK, third key insight from the psychology of money Margin of safety Building buffer room.
Speaker 2:And this isn't just about your investments, right? It's broader.
Speaker 1:Yeah, it's a whole philosophy for your financial life. Give yourself room for error, room for the unexpected.
Speaker 2:Because life is unpredictable unexpected bills, job loss, health issues, stuff happens.
Speaker 1:It's not if it's when.
Speaker 2:basically, so having that buffer, a solid emergency fund, living below your means, consistently gives you breathing room. You can absorb shocks without it turning into a full blown crisis.
Speaker 1:The book points out that having that safety margin also creates opportunities. How so? If you've got a solid foundation, you might feel more confident taking a calculated risk or grabbing an unexpected opportunity that pops up. They mentioned Sequoia Capital.
Speaker 2:The venture capital firm.
Speaker 1:Yeah, prioritizing long-term survival by keeping a big safety margin, even if it meant missing some quick gains. It's playing the long game.
Speaker 2:It makes sense. The biggest risk isn't missing one hot stock, it's getting wiped out completely because you had no cushion for surprises.
Speaker 1:That margin keeps you in the game, so you can benefit from that long-term growth we just talked about.
Speaker 2:Absolutely.
Speaker 1:And finally, the psychology of money really emphasizes how our past experiences shape everything, how we think about money Absolutely. And finally, the psychology of money really emphasizes how our past experiences shape everything, how we think about money now.
Speaker 2:Our upbringing, the economy when we were growing up. It all leaves a mark.
Speaker 1:Yeah, it explains why two people can look at the same financial situation and have totally different reactions.
Speaker 2:Like someone who grew up with high inflation might hate bonds.
Speaker 1:Or someone who came of age during a bull market might be way more comfortable with stock market risk.
Speaker 2:Recognizing those influences in ourselves and others can help us make more mindful decisions less reactive.
Speaker 1:The book also mentions that scar effect from big crises.
Speaker 2:Past financial trauma.
Speaker 1:Yeah, it can make people overly conservative or fearful for years, even decades later. Understanding those patterns helps us check ourselves. Are we reacting to now or to something that happened years ago?
Speaker 2:Yeah, avoiding decisions based purely on old fear instead of a clear look at today's reality.
Speaker 1:It really drives home that financial success isn't just about crunching numbers or knowing jargon.
Speaker 2:So much of it is psychological.
Speaker 1:Yeah.
Speaker 2:Emotional intelligence, patience, resilience that's the bedrock. Building wealth is a long game tied deeply to who we are.
Speaker 1:Okay, so as we wrap up this deep dive, let's try and pull these threads together.
Speaker 2:Sounds good.
Speaker 1:I had Rachel Cruz with those really practical grounding steps Take stock budget, tackle debt gain control, reduce that immediate stress.
Speaker 2:Get your feet under you. Then Myron Golden comes in and shifts our focus upwards. You know, from just managing income and bills.
Speaker 1:To the critical strategy of actively building those income-producing assets. That's the engine for long-term sustainable wealth.
Speaker 2:And woven through that, we had insights from AI Husry talk and the psychology of money, reinforcing the sheer power of mindset.
Speaker 1:Right, consistent action, even small steps, and really understanding our own emotional triggers around money. That's how you overcome struggle and build that solid foundation.
Speaker 2:And it's worth remembering Myron Golden's point Wealth building might seem daunting at first.
Speaker 1:Yeah.
Speaker 2:But that feeling can really change. Once you grasp the principles, get a framework, it becomes less mysterious.
Speaker 1:And the psychology of money just hammered home how vital our emotions are. Your plan have to work for you, align with your feelings, your values, if you're going to stick with it.
Speaker 2:That oak tree analogy. It's such a good reminder, isn't it? Wealth building takes time. Patience. You plant the seeds, you nurture them, you stay committed. You don't expect a giant tree overnight.
Speaker 1:And building that margin of safety, that buffer, absolutely essential. It lets you weather the storms and potentially seize opportunities later from a place of strength.
Speaker 2:Which all brings us to maybe a final thought for everyone listening. We talked about how past pain, past struggles, can be powerful fuel. So the question becomes how can you pinpoint the specific pain points in your financial journey, what really frustrates you or what past experience holds you back, and then how can you consciously take that energy, that frustration, that desire for better and channel it?
Speaker 1:Channel it into building those strategic steps we talked about towards the future you actually want.
Speaker 2:Exactly Taking those past experiences, acknowledging them and then actively using them as the motivation, the fuel to build the success you really deserve. It's about turning that pain into your power.