High income ≠ Financial freedom (here’s why)

(💡 Thanks to everyone who voted on the Resource Vault - it's officially in the works! Stay tuned 👀)

What I Learned From Over 15 Years in The Trenches

Back when I was first a mortgage lender - and later a broker - I worked with thousands of people across every type of income level you can imagine. Some were earning six figures or more. Some far less. But here’s what always surprised me:

The people with the highest incomes, were often the ones living paycheck to paycheck.

And the people earning $60K?

Sometimes they were sitting on 6-figure net worths and on track to retire early.

I realized something then that I’ve never forgotten:

💥 It’s not how much you make. It’s what you do with it that counts.

That truth is even more important if you're trying to become an owner.

Because when you're building something - whether it's your first side hustle or a digital empire - you don’t just need income.

You need resources you can redirect toward building something bigger...

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Empire-Builders Who Started Small

The business world is filled with inspiring stories of entrepreneurs who started with minimal capital but used what little they had wisely.

It's not about having massive resources - it's about how strategically you deploy what you have…

John Paul DeJoria: From Homelessness to Hair Care Mogul

The co-founder of John Paul Mitchell Systems (the hair care empire) and Patrón Tequila John Paul DeJoria was once homeless and lived in his car while selling his hair products door-to-door.

With just $700 and a determination to succeed, DeJoria:

Started with just one product line to minimize inventory costs

Focused on quality to build word-of-mouth reputation

Promised salons personally that they could return any unsold products

Made every penny count during those lean early years

His companies now generate billions in annual revenue, proving that initial resources matter far less than resourcefulness.

Howard Schultz: From Public Housing to Starbucks

Howard Schultz didn't come from wealth. Growing up in public housing in Brooklyn, he was the first person in his family to attend college, which he paid for with government loans and part-time jobs.

While working for a small coffee company, Schultz visited a fledgling coffee shop called Starbucks and saw potential. Though he initially lacked capital:

He convinced investors to believe in his vision

Focused on the customer experience rather than expensive locations

Created a unique brand identity that didn't rely on costly advertising

Prioritized employee benefits to reduce turnover costs

Schultz's strategic use of limited resources helped him build Starbucks into a global brand worth billions.

✅ Key Lessons From These Money Masters

What do these success stories teach us about becoming owners?

Start with what you have. Don't wait for "enough" money - there's never a perfect amount.

Cut personal expenses ruthlessly. Both entrepreneurs above lived frugally in their early years to channel more resources into their businesses.

Focus on high-impact activities. They didn't spread their limited resources thinly - they concentrated on the few activities with the biggest potential return.

Think creatively about problems. Limited resources forced innovative solutions that often became competitive advantages.

These entrepreneurs didn't succeed because they had more to start with. They succeeded because they were strategic with what they had.

Spending Habits That Steal Freedom

Let’s say you’re not a big spender. Just living life.

It can still add up. Here’s a deep dive example from an old client who was struggling to get approved for a loan :

• 💅 Monthly nail appointment: $70 × 12 = $840/year

• 🍷 Friday drinks out: $40 × 4 × 12 = $1,920/year

• 🚗 Monthly car wash & detail: $45 × 12 = $540/year

• 📱 Phone plan she never changed: saved $35/mo by switching = $420/year

• 🛍️ Amazon impulse buys: $50 × 2/month = $1,200/year

• 🧃 Daily smoothie bar stop: $10 × 200 work days = $2,000/year

Total “invisible” spending = $6,920/year

That’s nearly seven grand.

Enough to start funding:

• Your first ad campaigns

• A business mentor or coach

• A premium digital course to upskill

• Or even a down payment on a small business

It’s not about guilt - it’s about clarity.

So much of what holds people back financially isn't lack of income…

It’s lack of awareness.

This Week’s Challenge: Do a Money X-Ray 🔍

Set aside 1-2 hours this weekend and go deep:

1. Gather your accounts:
   Bank, credit cards, buy-now-pay-later, subscriptions

2. Categorize everything:
   Essential vs non-essential. Needs vs wants.

3. Ask yourself:

   
   👉 “Is this expense moving me closer to ownership?”
   👉 “What’s the yearly cost of this?”
   👉 “Could I use this to build something instead?”

4. Take action:
   Cancel, cut back, or reallocate toward your owner goals

Want Help Tracking It All?

👉 Need a simple spreadsheet?
Reply to this email - I’ll send you my free manual tracker.

👉 Want an app instead?
I like Pocket Smith (budgeting app that connects to your accounts).
Here’s my link for 50% off the first 2 months

Real Talk: This Isn’t About Deprivation

It’s not about giving up joy. It’s about building intentional wealth.
You can still enjoy lattes, lunches, and luxuries - but on your terms.

Right now, every dollar is a decision:
Consume…or build.

Owners think differently.
They see every expense as either fuel or friction.

So tell me - what did your Money X-Ray reveal?
Hit reply. I’d love to hear.

Let’s make 2025 the year you own your money - and your future.

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