Latest / Money And Wealth With John Hope Bryant / The Economics of Gratitude

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The Economics of Gratitude · Money And Wealth With John Hope Bryant

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  Speaker 1: Welcome The Money and Wealth with John O'Briant, a production
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  Speaker 1: of The Black Effect podcast Network and iHeartRadio. Hey. Hey,
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  Speaker 1: it's John O'Brien and this is the Money in Wealth
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  Speaker 1: podcast series, Season two, and I'm excited to share a
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  Speaker 1: special Thanksgiving week message with you that will hopefully transform
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  Speaker 1: how you see not just your money and your prospects
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  Speaker 1: in this world, but hopefully your spiritual, mental, emotional, and
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  Speaker 1: psychological health. The topic this week is the economics of
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  Speaker 1: gratitude and the wealth you can't get see with Thanksgiving. Here,
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  Speaker 1: I want to talk about something you won't hear on
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  Speaker 1: network news, on Business News, on here on Wall Street,
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  Speaker 1: and you probably didn't hear at your dinner table. It's
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  Speaker 1: called the economics of gratitude. It's the link between thankfulness
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  Speaker 1: and wealth building. It's not solved, and it's not sentimental.
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  Speaker 1: It's real economics, real psychology, and real impact. And I
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  Speaker 1: also believe it's spiritual. We're not human beings having a
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  Speaker 1: spiritual experience. We're spiritual beings having a human experience. Energy matters,
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  Speaker 1: whether you believe you can, whether you believe you can't.
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  Speaker 1: You're absolutely right. Gratitude is not passive. It's discipline. It's
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  Speaker 1: a wealth strategy. A leader who happens to be a
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  Speaker 1: pastor and a US senator, reverend doctor US Senator Raphael
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  Speaker 1: Warnot said to me once, if you want to have
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  Speaker 1: some grace, you better show some mercy. Sees when some
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  Speaker 1: rantid sob some jerk does not get the rear end
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  Speaker 1: whipping they so rightly deserve. But grace is where you
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  Speaker 1: and I get the gifts and the blessings we actually
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  Speaker 1: don't deserve. Whatever goes around comes around. If you want
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  Speaker 1: to have a little grace, you might want to show
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  Speaker 1: a little mercy. The way I translate that in my
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  Speaker 1: business life is an old philosophy updated to today with
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  Speaker 1: not much translation. Talk with without being offensive, listen without
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  Speaker 1: being defensive, and always leave even your adversary with their dignity,
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  Speaker 1: because if you don't, they spend the rest of their
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  Speaker 1: life working to make you miserable. It becomes personal. Whatever
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  Speaker 1: goes around comes around. Let me start by talking about
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  Speaker 1: what gratitude actually does to your brain so you can
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  Speaker 1: understand how it does what it does to translate into
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  Speaker 1: your economic station in life and your wealth creation in life.
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  Speaker 1: And I'm going to tie this back to a quote
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  Speaker 1: that I've been using an operation Hope, the organization I
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  Speaker 1: found at thirty three years ago. I've been using this
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  Speaker 1: since it's founding. There is a difference between being broken
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  Speaker 1: being poor. Being broken as economic, but being poor is
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  Speaker 1: a disabling frame of mind, a depressed condition of your spirit,
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  Speaker 1: and you must vow never ever ever to be poor again.
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  Speaker 1: Now let's connect this to the science. Psychologists have studied
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  Speaker 1: gratitude for twenty five years. They've hooked people up to
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  Speaker 1: a brain scanners and they've tracked savings rates, credit, behavior,
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  Speaker 1: job performance. Here's what they found. Gratitude lowers courtisol levels.
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  Speaker 1: This is your stress hormone. Lower cortisol level means better
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  Speaker 1: decision making. Better decision making means fewer emotional purchases. I've
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  Speaker 1: always said, when you make an emotional decision, it's probably
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  Speaker 1: going to be a bad one. Fewer emotional purchases means
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  Speaker 1: higher savings and better credit. So when you're in a
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  Speaker 1: surviving mindset, if you have low self esteem, you're going
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  Speaker 1: to make very bad emotional decisions and you're probably going
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  Speaker 1: to shop for therapy. Some people can relate to that.
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  Speaker 1: Listening to this. Better credit lowers your cost of capital.
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  Speaker 1: That's why I keep talking about seven hundred credit score communities.
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  Speaker 1: Do you know? And you can go to the Hope
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  Speaker 1: Financial Wellness Index online to check this out. Tell me
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  Speaker 1: your zip code, I'll tell you how you live in.
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  Speaker 1: For every approximately every fifty point increase in your credit
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  Speaker 1: score above five hundred, you live about five more years.
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  Speaker 1: So in a five hundred, six hundred credit score neighborhood
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  Speaker 1: you live about sixty to about sixty one years of age.
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  Speaker 1: You get to seven hundred credit score, and on average
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  Speaker 1: across this country you live to eighty one years of age.
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  Speaker 1: It's not about the credit score, It's about the trending
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  Speaker 1: indicators of hope, well being, faith, confidence, belief, optimism. Again,
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  Speaker 1: whether you believe you can or whether you believe you can't,
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  Speaker 1: you're absolutely right. Gratitude is actually a credit in life enhancement.
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  Speaker 1: Lower cost of capital leads to wealth. Again, better credit
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  Speaker 1: leads to lower cost of capital. Lower cost of capital
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  Speaker 1: leads to wealth. In other words, you can literally build
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  Speaker 1: wealth by calming your mind. That's why I talk about
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  Speaker 1: remove the noise from your life. I'm not talking physically,
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  Speaker 1: I'm talking spiritually, mentally, emotionally, psychologically, your mindset again whether
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  Speaker 1: you believe you can or whether you believe you can't,
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  Speaker 1: you're absolutely right. People with strong gratitude practices have higher
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  Speaker 1: credit scores, have larger emergency funds, are less likely to
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  Speaker 1: fall to predatory lending, and predatory lenders are more likely
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  Speaker 1: to invest consistently and have better job evaluations and promotions.
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  Speaker 1: This is not magic. It's mindset, it's behavior, it's outcomes,
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  Speaker 1: it's predictability, gratitude versus surviving mindset. Let's get real here.
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  Speaker 1: Most Americans are living in what I call a survival mindset.
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  Speaker 1: I talk about that in my book The Memo Go
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  Speaker 1: back and watch, listen to that audiobook or read it.
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  Speaker 1: And survival mode. Your brain is scanning for threats. That's
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  Speaker 1: not its highest and best use. You're reactive, not proactive.
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  Speaker 1: You're emotional versus passionate and focused. You're fearful. You're grabbing
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  Speaker 1: for anything that gives you quick release and quick relief.
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  Speaker 1: A lot of the ings, shopping, drugging, drinking, dealing, I'm sorry, texting, sexing, shopping,
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  Speaker 1: everything but healing, no dealing with your drama. And when
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  Speaker 1: you're in survival mode, you buy things you can't afford
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  Speaker 1: with money. You don't have to impress people you don't
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  Speaker 1: know in places that don't matter. You stop thinking long term.
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  Speaker 1: You miss opportunities. You're more transactional than a relationship. You
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  Speaker 1: tend to step over a dollar to pick up a dime,
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  Speaker 1: So to speak, your self medicate with spending. You leak
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  Speaker 1: money through stress. I call it rearranging the deck chairs
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  Speaker 1: on the Titanic. The ship is sinking and we're picking drapes.
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  Speaker 1: You just don't make good decisions. Financial trauma is real.
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  Speaker 1: But here's a truth. You cannot build generational wealth from
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  Speaker 1: a survival mindset. You build it from a gratitude mindset.
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  Speaker 1: Gratitude shifts you from panic to presence, from scarcity to possibility,
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  Speaker 1: from desperation to discipline, from short term to long term.
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  Speaker 1: Gratitude is not denial. Gratitude is control. It's your ability
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  Speaker 1: to say things might not be perfect, but I'm still here,
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  Speaker 1: I'm still standing, and I'm still building. Rainbows only follow storms.
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  Speaker 1: You cannot have a rainbow without a storm. First, gratitude
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  Speaker 1: is armor. When I was growing up in Compton, California
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  Speaker 1: and in Uila, I didn't have money, but I had
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  Speaker 1: something else. My mother and my father pouring gratitude into me.
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  Speaker 1: My mother made sure we said thank you for everything,
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  Speaker 1: not because we were rich, but because we weren't. She said,
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  Speaker 1: young man, you can control. You can't control that outside world.
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  Speaker 1: You may not be a control even your inside world,
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  Speaker 1: but you control your attitude toward both. My mother told
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  Speaker 1: me she loved me every day of my life, and
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  Speaker 1: I believed it. For my mother, I got a sense
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  Speaker 1: of yes, I am. My dad gave me a sense
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  Speaker 1: of yes I can. That mindset, this mindset that I'm
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  Speaker 1: trying to share with you, kept me from breaking. It
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  Speaker 1: kept me from giving up. It helped me to see
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  Speaker 1: possibilities where others saw dead ends. Again, rainbows follow storms.
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  Speaker 1: You cannot have a rainbow without a storm first and
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  Speaker 1: later in life, whether negotiating with CEOs or founding Operation
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  Speaker 1: Hope or Brian Group Capital Briankadventures raising capital, or sitting
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  Speaker 1: down with US presidents, gratitude kept me centered. It removed
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  Speaker 1: the noise from my life and had me focus on
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  Speaker 1: what was really important. Gratitude was my emotional seat built
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  Speaker 1: in turbulent times. My first wealth discipline was gratitude. Let's
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  Speaker 1: talk about holidays, spending, traps, and emotional money. I want
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  Speaker 1: to get practical for this Thanksgiving weekend, so you can
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  Speaker 1: get your hands around not just how to think, but
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  Speaker 1: what to do. The holidays are a financial landmine. People
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  Speaker 1: are spending money emotionally, not rationally. There are three traps
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  Speaker 1: that show up every year. Number one gifting trying to
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  Speaker 1: make up for time, make up for love or presence,
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  Speaker 1: as in being present with spending. Number two family competitive
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  Speaker 1: gifting trying to impress relatives, trying to look successful. I
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  Speaker 1: get it, but I want you to get it. I
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  Speaker 1: want you to grow a self esteem how you esteem yourself.
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  Speaker 1: Don't be in love with yourself, but love yourself. Because
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  Speaker 1: if I don't like me, I'm not gonna like you.
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  Speaker 1: If I don't feel good about me, I'm not going
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  Speaker 1: to feel good about you. If I don't respect me,
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  Speaker 1: don't expect me to respect you. If I don't love me,
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  Speaker 1: I don't have a clue how to love you. And
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  Speaker 1: if I don't have a purpose in mind life, I'll
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  Speaker 1: make your life a living hell. Whatever goes around comes around.
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  Speaker 1: There's a difference between confidence and self esteem. Confidence is
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  Speaker 1: confidence leaned out into the world. Self esteem is how
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  Speaker 1: you esteem yourself. The more you esteem yourself the more
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  Speaker 1: you reasonably in your own skin. That is my greatest gift.
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  Speaker 1: By the way, my greatest benefit after gratitude was being
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  Speaker 1: reasonably comfortable in my own skin. Now I'm not hating
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  Speaker 1: on anybody else. I'm not even trying to press anybody else.
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  Speaker 1: I'm just cool with me and my possibilities. Number three
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  Speaker 1: social media gifting trying to keep up with celebrations that
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  Speaker 1: are let me say this politely, mostly lies. Here's the truth.
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  Speaker 1: Most of the folks showing off online they don't have
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  Speaker 1: the money. They have debt, they put it on credit cards,
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  Speaker 1: they're renting the dream. Gratitude breaks these cycles because gratitude
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  Speaker 1: whispers I'm already enough, I already have enough. I am enough,
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  Speaker 1: I am and wealth begins with enough. Wealth happens at
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  Speaker 1: the dinner table. Let me give you a Thanksgiving truth.
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  Speaker 1: Wealth isn't passed down in bank accounts. Wealth has passed
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  Speaker 1: down in conversations at the dinner table. Every Thanksgiving, every
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  Speaker 1: family has a chance to pass down for free hope, habits, values, discipline, aspirations, dreams,
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  Speaker 1: stories of resilience from our elders and our peers, and
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  Speaker 1: expectations for greatness. This is how many families build generation
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  Speaker 1: or resilience. How immigrant families built thriving businesses. How African
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  Speaker 1: American families survive the unimaginable in slavery and kept dreaming
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  Speaker 1: and going anyway. This Thanksgiving, I want you to talk
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  Speaker 1: about credit, dreams, business ideas, career paths, money mistakes. Yes,
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  Speaker 1: money mistakes, you can fall forward. Rainbow's only follow Storms
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  Speaker 1: is going to be a big feature of mine in
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  Speaker 1: twenty twenty six is a failing forward, falling forward series
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  Speaker 1: within Money and Well, stay tuned for that. I'm not
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  Speaker 1: defined by my successes. I'm defined be how I manage
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  Speaker 1: my failures. Life is ten percent what life does to
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  Speaker 1: you and nine eves in how you choose to respond
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  Speaker 1: would wait for that series Lessons learned legacy. These are
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  Speaker 1: the table conversations. This is the real classroom I want
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  Speaker 1: you to occupy. So here's my challenge to you. Before
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  Speaker 1: you buy anything big this holiday season, before you chase status,
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  Speaker 1: before you compare yourself to anyone online, stop breathe. Be grateful.
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  Speaker 1: You're enough, mate with yourself, Love yourself, embrace your self,
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  Speaker 1: Hug yourself. Make gratitude your new financial discipline. Because once
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  Speaker 1: you learn to be grateful for what you have, you
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  Speaker 1: unlock the mindset that allows you to receive what you want.
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  Speaker 1: You get more. You get peace, then you get clarity,
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  Speaker 1: then you get discipline, then you get wealth. Wealth is
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  Speaker 1: a mindset. All forms of poverty other than sustenance pty
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  Speaker 1: a roof over your head, food in the table, reasonable healthcare,
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  Speaker 1: all other forms of poverty are mindset. Whether you believe
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  Speaker 1: you can, whether you believe you can't, You're right. Is
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  Speaker 1: a glass half fumped full or is it glass half empty?
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  Speaker 1: Depends who's looking at the glass. This is John O'Brien.
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  Speaker 1: This was Money and Wealth during this Thanksgiving season. I
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  Speaker 1: want you to go take your life back. I want
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  Speaker 1: you to be grateful. Let's go change the world together.
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  Speaker 1: I'll see you on the other side, Happy Thanksgiving. Money
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  Speaker 1: and Wealth with John O'Brien is a production of the
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  Speaker 1: Black Effect Podcast Network. For more podcasts from the Black
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  Speaker 1: Effect Podcast Network, visit the iHeartRadio app, Apple Podcasts, or
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  Speaker 1: wherever you listen to your favorite shows.