It is common for people to think that building wealth is all about earning more money. Although this is definitely part of the equation, spending habits and debt are equally important. These are powerful forces that drain your finances. Too often, making more money is a trap that leads to lifestyle inflation. What can you do to break the cycle and build wealth? In today’s episode of The Sales Prescription Podcast, Rusty and Ron talk about what most salespeople find most exciting about their job, the money. They will discuss how Rusty developed a deep understanding of finance, his wealth-building strategy, and how to break the spending addiction. Enjoy!
It is common for people to think that building wealth is all about earning more money. Although this is definitely part of the equation, spending habits and debt are equally important. These are powerful forces that drain your finances. Too often, making more money is a trap that leads to lifestyle inflation. What can you do to break the cycle and build wealth?
In today’s episode of The Sales Prescription Podcast, Rusty and Ron talk about what most salespeople find most exciting about their job, the money. They will discuss how Rusty developed a deep understanding of finance, his wealth-building strategy, and how to break the spending addiction.
Enjoy!
In This Episode
01:36 - What makes Rusty different from other leaders when it comes to financial leadership
04:29 - How Rusty developed a deep understanding of finance
11:13 - How Rusty influenced Ron's financial journey
12:05 - The key to breaking the spending addiction
18:46 - Rusty's advice on managing finances effectively
22:17 - Ron's story about Rusty and his Corolla
26:33 - Rusty's wealth-building strategy
34:37 - Why paying off debts plays a crucial role in building wealth
Favorite Quotes
19:48 - "You cannot out earn a lack of discipline, you cannot. You cannot make enough money to be able to go through and survive this force of taking your money away, you can't. You have to change your behavior. You have to develop discipline if you want to build wealth." - Rusty Jensen
04:01 - "There are too many people who live in a situation where people can't make the choices they wanna make. They can't do the things they want to do because they feel trapped doing a job. They live in this quiet desperation where they have to perform, they have to do this job, they have to do this thing and they can't do what they really want to do. They can't let their passion come out because they're trapped." - Rusty Jensen
12:14 - "This is a powerful principle; we are not spreadsheets. You and me, we are not robots. We are not cold calculators." - Rusty Jensen
12:52 - "If you want to build a great career, it takes time, investment, work, education, discipline, and things that you learn that actually lead to that outcome. It doesn't just happen." - Rusty Jensen
15:53 - "You have this need to be able to spend. You cannot underestimate that force. How do you break that? You have to go through a process, a disciplined process of controlling your money, changing your behavior, and cultivating your psychology to actually be able to influence true control over your money. You have to have accomplishments to build up that strength because you're a human, not a spreadsheet." - Rusty Jensen
27:15 - "When it comes to building wealth, it really is about being able to free up your income, pay off debt, and save." - Rusty Jensen
37:16 - "Use your income as a salesperson that builds your wealth, use it to become great. Use it in the future to be able to do what you really want to do for your family." - Rusty Jensen
Connect with our Hosts
The Sales Prescription on LinkedIn
Listen to more episodes of the Sales Prescription Podcast