On Purpose with Jay Shetty
Codie Sanchez: How to Make Money if You Don’t Have Money (4 Step Process to Make Money Today)
02 Dec 2024
Chapter 1: What is the first step to making money with no savings?
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70% of millionaires are self-made. If you want to make money, you got to follow the map. People that have money have one thing.
Entrepreneur, investor. She's bought over 26 businesses. Cody Sanchez. I have no money. I don't really know too much about money. Where do I start? What do I do?
Most often, we're told things like, follow our passion. I think that's pretty bad advice. If you don't have ownership, you're probably never going to be free financially.
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Chapter 2: How can ownership lead to financial freedom?
Chapter 3: What are the misconceptions about making money?
70% of millionaires are self-made. If you want to make money, you got to follow the map. People that have money have one thing.
Entrepreneur, investor. She's bought over 26 businesses. Cody Sanchez. I have no money. I don't really know too much about money. Where do I start? What do I do?
Most often, we're told things like, follow our passion. I think that's pretty bad advice. If you don't have ownership, you're probably never going to be free financially.
Chapter 4: How to develop a healthy relationship with money?
Chapter 5: What are practical steps to start investing?
Chapter 6: How to identify profitable small businesses?
Chapter 7: What mindset shifts are necessary for financial success?
Chapter 8: How to negotiate effectively in business?
You're literally opening up a whole new doorway for people. The number one health and wellness podcast. Jay Shetty.
Jay Shetty. The one, the only, Jay Shetty.
Hey, everyone. Welcome back to On Purpose, the place you come to become happier, healthier, and more healed. I'm fascinated by our relationships with things that we grew up with, how they've changed, how they've evolved, or how they've stayed the same. I believe that our relationship with money is is probably one of the most underestimated relationships that we have.
And it's probably one of the relationships that we pay the least attention to. We don't treat it like a relationship, we don't think of it like a relationship, and therefore it falls into the binary category of I'm either good at it or I'm bad at it. Today's guest has some incredible insights for each and every one of us. Wherever you are in your financial journey, this episode is for you.
Today's guest is Cody Sanchez. Thank you. I'm blushing. I'm excited to be here. I want to start with a question that I know you probably get a million times and I get all the time. Jay, I have no money. I don't really know too much about money. Where do I start? What do I do?
There's two things in life that I wish we were told earlier. And one is if you want to make money, you got to follow the math. And I think most often we're told things like follow our passion, you know, do what I did to make money. I made real estate money. You should make real estate money. And I think that's pretty bad advice. I think instead we should look to where are most people rich?
What makes most people rich? So I kind of go to the data. I came from really middle class, kind of we didn't have money all the time. I remember what it was like to not have money. I remember what it was like when my debit card – I was a little worried stuff wouldn't go through at the grocery store. And I didn't like that feeling.
And so I kind of started looking around and I was like, wait a second, where do people have money? And after being in finance for whatever it is, 15 years, I'm going to give away my age, I realized people that have money have one thing, ownership. So the data is really clear on this. 70% of millionaires are self-made, which is interesting. I used to think maybe you just inherit it.
Did they just get lucky? And then 68% of millionaires are have some form of ownership. They have actually bought a business or have equity in a business or built a business. And so when I realized that, I was like, the problem is I don't have a brilliant idea. Like I don't know how to make money. I don't have any money to make money.
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