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Hoarding money isn't the same as building wealth and the mindset

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that keeps you from growing your money It's the very thing that's keeping

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you broke The news was filled with panic banks were

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failing people were losing jobs The stock market was in freefall you

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learn to fear money every time you think about investing a little voice

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in your head whispers What if you lose everything? What

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if it's all a scam? What if you make the wrong choice?

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The first step is to have what's called a fun account, an account

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that you put money in just for the process of seemingly

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wasting it. I'm Lloyd James Ross, seven-figure investor and entrepreneur, and

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I've helped thousands of business owners and professionals turn financial stress

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into success. If you're stuck in old money habits, overwhelmed by

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investing, or unsure where to start, this is for you. I'll

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give you the mindset and strategies to take control, grow

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your wealth, and achieve financial freedom. It's time to make your

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money work for you. There's a disease spreading everywhere. It

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doesn't care how much money you make, what job you have, or

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how smart you are. It infects business owners, CEOs,

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even self-made millionaires. You'd have a seven-figure

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income and still suffer from it. And

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the worst part? Most people don't even know they have

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it. This disease keeps you stuck. It makes you work

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harder while earning less. It convinces you that no matter

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how much money you make, it's still never enough.

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I see it every single day. If you're listening to this, chances are

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you have it too. But here's the kicker. This mindset isn't

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something you were born with. It was given to you, learned

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from your parents, absorbed from your environment and shaped

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by past experiences. And once it takes hold, it

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runs your life. It controls how you spend, how

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you save, how you invest or don't. So

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how does this mindset start? Where does it come from? Imagine

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this, it's 2008. You're a teenager, maybe

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in your early twenties. watching the world around you

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collapse. Your parents worked hard. They

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did everything right. They bought a house, had

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savings, maybe even a few investments. Life

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was comfortable until suddenly it wasn't. The

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news was filled with panic. Banks were failing.

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People were losing jobs. The stock market was in free fall. And

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then it hit your family. Maybe your parents lost their home.

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Maybe your dad got laid off. And maybe your mum was scrambling

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to keep the lights on. Maybe you remember the way they

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whispered at night about bills, about

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debts. about how they'd never let

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this happen again. So what did they do? They

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tightened their grip on every dollar. They stopped

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spending. They stopped taking risks. They made sure that

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every cent was accounted for. And you? You

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learned to fear money. To fear losing it.

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to believe that even when things are good, it can all come

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crashing down in an instant. Now, as an adult, you

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make money, but you never feel like you truly have

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it. You don't invest, because what if the market crashes

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again? You don't spend, because what if

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you need that money later? You work harder, thinking that

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more hours, more hustle is the only way to

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stay ahead. But no matter how much you earn, that

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feeling never really goes away. Because

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deep down, you're still living like the crash is

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just around the corner. Sound familiar? Well,

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maybe your story looks more like this. You grew up

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thinking your family was doing well. Your dad was smart with

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money. At least that's what everyone said. He talked

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about investments, had a solid job, maybe even dabbled in stocks

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or real estate. Money wasn't something you worried about until

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one day everything changed. Maybe it was a bad

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investment. Maybe it was a stock market crash. Maybe it was a business

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deal that went south. Whatever it was, the money vanished almost

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overnight. You saw your dad go from confident to

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crushed. You remember the arguments, the tension

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in the house, the way he stopped talking about money altogether, how

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the topic became off limits. Maybe he swore

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off investing completely. Maybe he became obsessed with

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never taking another risk, choosing instead to save

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every single penny, convinced that playing it safe

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was the only way to survive. And without realizing it,

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you inherited that fear. Now, every time you

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think about investing, a little voice in your head whispers, what

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if you lose everything like dad did? What

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if it's all a scam? What if you make the wrong choice?

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So you avoid it. You play it safe. You hold on

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to money like it could slip through your fingers at any

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moment. But here's the thing. Hoarding money isn't

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the same as building wealth. And the mindset that keeps

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you from growing your money It's the very thing that's

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keeping you broke. Or maybe you don't need to

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look at your parents. You've lived this yourself. You built something,

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you took a risk, started a business, maybe even made great

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money, but then something happened. A bad

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partnership, a failed investment, a market downturn,

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and suddenly everything you built disappeared. And

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every time you think about investing again, your stomach knots up.

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The memory of losing money haunts you. You

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hesitate. Second guess. You overthink.

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You stick to what feels safe. You

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don't invest. You don't delegate. You take full control,

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convinced that if you just work hard enough, you can prevent another

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failure. That's not how wealth is built.

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Maybe you're the kind of person who believes that if you want something done right,

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you gotta do it yourself. You don't outsource. You don't invest

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in help. You don't delegate. Because no one can do

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it as well as you can. But what happens? you

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run yourself into the ground. You spend all your time on tasks

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that don't actually build wealth. You trade time for money, working

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longer, working longer, working longer, thinking that if

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you just worked a bit harder or a bit longer, you'll

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finally feel financially secure. But no amount of

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hard work can fix this mindset. And the

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mindset is scarcity. Just

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quickly, if you're ready to take control of your finances but feel stuck on

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where to start, I have a solution. My book, Money Bias Happiness,

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simplifies investing and wealth building with practical steps to help

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you achieve financial peace. Get your copy via the

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link in the show notes and let's get your money working for you. Now back

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to the episode. Where does it come from? How does it happen? But most importantly,

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how do you move away from this scarcity money mindset? And

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it reminds me of a story that my dad told me many times from

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his past. He was a very successful insurance salesman. In

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fact, he sold 100 insurance policies face-to-face in

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a single week in his 20s. And so being

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number one, he would always win awards. And he'd go to the awards night,

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he'd be up at the top of the table, the best insurance salesman of the year. And

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one particular year, there was another chap who was at the top

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with him. And he said that at the event you get a trophy and

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they give you a big bottle of champagne to take back to your table.

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And he said one night he was observing this guy that, you know, for the first time he

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sold some insurance policies and was at the top of the table. And he was getting

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the same award as my dad. And he said he noticed something. He said

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this guy went back to his table and

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took the bottle of champagne and put it under the table. And

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I asked my dad, I said, what did you do with yours? He said, I took mine back to the

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table and I opened it up, popped it and

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gave everyone a glass and shared it with everyone. I

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said, dad, what's the lesson in this story? What are you trying to tell me here? He

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said that he never saw that other guy again. It

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was the only time he ever won top of the table. Why? Because

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when my dad went back to his table, he shared it with everyone and

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used the champagne, drank it because he knew he'd be back next year

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and he'll get another one. Whereas the other guy, he thought this is the last time

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I'll ever win this. I won't be back again and he never came back. So

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when it comes to your money, you have to understand that you'll get it again. It's

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free flowing. You'll find it. And most importantly, you

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can't take it with you. So just like champagne, share

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it, spend it and intelligently invest it. but

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try not to hoard it because it will come back and it'll just, it'll

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haunt you for the rest of your life. So what are some practical steps you can take

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to actually get rid of this scarcity money mindset?

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Well, I've got three practical steps for you to follow to do that. Step

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number one, the first step is to have what's called a fun

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account, an account that you put money in that you blow on

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purpose. That's right, the account is designed for you to put money in it

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just for the process of seemingly wasting it,

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all right? You want to buy the champagne and pop it, go for it. But this will

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prevent you having guilt and shame around spending money

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that you feel you don't have. That's the first step, having a fun account. The second step

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is to educate yourself about investing. Because

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no one is going to care about your money more than you. But the only thing holding

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you back from investing it and deploying it to grow it is the fact that

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you don't understand the investing landscape. And the only way

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around that is to put the knowledge in your head. So education must

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come before you deploy the money into investments. Wisdom

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before money. So someone once said to me, Lloyd, empty

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your wallet into your head so your head can fill your wallet. Step

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number three, delegate. You can't do

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it all yourself. You've got to delegate, which means starting to delegate

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some of the small tasks in your life that you think you're the only

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one that can do it. You think you're the best at it. But let me tell you,

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there are other people out there that can do it better than you. I know, it's crazy, but

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they are. And so when you go and start delegating, it

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means you can free up your time. And time is more valuable than money. So

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the trick to building wealth is scaling your time. You

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can work on higher value tasks. So the trick is to delegate the

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tasks that are below your hourly rate. And that allows you to free up

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your time and focus on wealth building instead of just being busy all the

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time. And the most important thing for you to firstly delegate if

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you haven't done it yet is to delegate the cleaning of your house.

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One of our students, she came in, she was very clever. She was an engineer running a

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team of 30 people, had four children, was building an app.

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as a business, and she was still cleaning her own house. And

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she said to me one day, Lloyd, I feel like I'm just, I've got no time left.

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I can't build my wealth. I can't spend time on my business. I said, you're

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still cleaning your own house. Of course you don't have any time.

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And it was that moment that she decided that, well, maybe

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there is someone better than me in this. Maybe I can actually trust someone enough to

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do a job better than me. And she outsourced her cleaning and

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that changed her whole life. And so that particular step will

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allow you to scale your wealth and not cling to the fact that you're the only one

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that can do it. So the scarcity money mindset is just one of

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six money mindsets that is holding you back from

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building wealth. You wanna know the other five? They're in my

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latest book, Money Buys Happiness. So head to the description, click

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the link, grab a copy and go and find out the next five money

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mindsets that are holding you back because when you're aware of them and you know them,

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you can get past them. All right, so hit the subscribe button, go check

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out the link and I'll see you in the next episode. Thanks for listening to Money Grows on

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Trees. If you enjoyed the episode, leave a five-star review on Apple Podcasts

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and Spotify and subscribe to us on YouTube so you never

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miss an episode. And if you're serious about building wealth, make sure to

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check out the links in the show notes and follow me on all social media

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platforms, at LloydJamesRoss for more. See