Financial motivation. What does that mean? Well, we all want to have more money in our lives. The thought about using it as a primary motivator is one of the questions I always get asked. Is money a motivator? Join me (JB Glossinger) on the show as we discuss if money is?
We all want to have more money in our lives. The thought about using it as a primary motivator is one of the questions I always get asked. Is money a motivator? Join me (JB Glossinger) on the show as we discuss if money is?
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Episode 2878 Financial Motivation |Is Money A Motivator?
[00:00:00] Good morning and welcome to Morning Coach today. I am so glad you’re with us. As you know, my name’s J.B. Glossinger, and this is your personal evolution system, the place to get your day started right. Welcome, welcome, welcome. I’m so glad you’re with me. Today it is Friday. Hey, we love Fridays here at Morning Coach cause it is about the energy, right? Lots of great things going on. Hopefully you had a chance to work through Intelligent Life Design. I just announced yesterday that coming in September I’m going to bring the next course, and we’re going to be doing M/M, Mindfulness and Meditation for Busy Professionals. It’s going to be a GREAT one. We’re going to be doing some accountability, really working through that, and it’s going to be going to be awesome. Can’t wait to bring you to that.
[00:00:52] Excited today because I’ve got a topic that comes up every once in a while, and this is this idea that “is a money a motivator?” Is it really something that drives you? Is it something that you should use as the carrot as you manage people or just even in your own life? And we’re going to go over that today. I’m going to really, really help you kind of understand the dynamic. But before we do, it is our Prosperity and Abundance day. So, as Catherine Ponder tells us, there’s gold dust in the air. And so I’m sending you some gold dust. Let’s be able to see that gold dust today and really send some massive vibes out that you have prosperity and abundance in all areas of your life because, as you know, prosperity and abundance is just not about financial. It’s about every part of life. And I want you to have that peace, that joy, that happiness, that comes when you’re on that path and things are working for you.
[00:01:50] So today we’re getting into this idea “is money a motivator?” and, in order to do that, we need to understand motivation. If we go back and look at Maslow’s hierarchy of needs, -and we all remember Maslow from Psych 101, right?- Maslow created this pyramid, and it’s like if you can get the lower needs met then you kind of move up through self-actualization. And there’s actually the one above self-actualization he didn’t publish because, at the time of his death, he actually had this spiritual concept that he wanted to put out and he had written about, but he hadn’t published it formally. But we’re talking about kind of the lower levels. So, if we understand motivation and money, it really is one of the lower tiers, meaning that we have food and shelter and we feel comfortable. And when people ask me, “Is money a motivator?” Well, if you don’t have it, it can be, right? If you don’t have money, of course. I mean, you got to get to those lower levels of Maslow’s pyramid. You’ve got to get through kind of where you feel secure, or you feel comfortable; you’ve got food and shelter. And if you don’t have food and shelter, then you’re going to need to get those needs met. And, of course, money is a motivator at that point. But I think in today’s world for anybody it’s listening to Morning Coach this morning, that when we talk about money as a motivator it really is not that much of a motivator. And I’ll explain that, and I’ll kind of go through my story because, basically, what happened with me is money was a motivator.
[00:03:17] When I was on straight commission working in the health clubs back in the day, if I didn’t make a sale, I didn’t eat. So, I was motivated by money. I had to pay my rent. There was Chaos that I had to take care of. And, I had to buy dog food, and I needed money. Again, I was on those lower rungs of Maslow. But then, what happened was, I got a job, and- I’ll never forget- I got my first salary job. It was $25,000 a year plus benefits, and I was selling uniforms for GNK Services. I was so excited. So, I called my mom. And, I told her, “Mom, I’m rich! I’m making $25,000 plus insurance!” I couldn’t believe it. I had insurance. And, you know, this was me coming from making I guess $15-20,000 a year. So, I really thought that I’d made it. And as soon as I started making that money, I just couldn’t figure out where it was going. It was like, “wow, I never had this much money, but I don’t have any money,” and I couldn’t figure it out. So, I started looking for another job, and that’s when I went into aerospace. And they gave me, I think, 30 something. I didn’t feel as rich, but I did when they bumped me up to $45,000. And, I was like, “Wow, I’m making $45,000 a year. Finally, I got insurance, and received all these benefits. It’s just amazing to me.” But then I started living my life, and I think I got a new car- I was driving a Nissan Altima- and I just… it was weird. It was no money. I couldn’t figure out, “what the heck? Why isn’t there any money?” So, a couple of years I made that much, and then I got up to $60,000. Again, made the call to my mother, “Mom, I’m rich! I’m making $60,000 a year!” and it still wasn’t enough. Now, at that time, I had been moved to Miami from Arizona, and I still couldn’t figure out where the money was going. So, I got another job. It was a $100,000 a year, and I thought that was really the secret. Growing up from where I am, blue collar, I really thought, $100,000, THAT was going to change everything. Like, “wow, six figures. I’m making six figures. Can you believe that?” And the truth was, I didn’t have any money. I couldn’t figure it out. Now, my lifestyle was getting better along the way. I bought a house. Things were getting better, but it wasn’t motivating me. It wasn’t the motivator. Just every level, bigger problems came.
[00:05:27] And so, when you start to understand that, you start to realize, well, maybe it’s not so much about the money. Maybe it’s not about accumulating more things. Maybe it’s really about the lifestyle that you’re living, and that’s what we need to motivate ourselves on. Because comfort, as we’ve talked about, it plays a role because each step of the way you just get a little bit more comfortable with nicer things. And that’s the issue because it’s really about prioritization of spending. And it’s not about motivation and just making more just as you buy more things. Now granted, there’s a point where you get residual and passive going. We talk about the ILD lifestyle, and, yeah, that’s a motivator if you can get there and get some residual and passive going and create total freedom, which is truly passive income where you don’t do anything and money is just coming in. And I don’t even know if that’s such a motivator, but it is a great lifestyle. Right? But what we’ve got to do is recognize that when we just use more money as the carrot, it is not the be-all end-all. And that’s my main point: that money isn’t going to be the driver for you to reach your mission or to really have the wonderful things in your life. It can make your life better. Obviously, I’m not going to sit here and give money a hard time. I love it. It’s how we make a difference. You hear me say that a lot: that we don’t save the rain forest by chopping down trees and making signs, we save the rain forest by buying the rain forest. So, we’ve got to be materially motivated but not as our only motivation. And I see this as a problem because what happens is most people- not you listening to Morning Coach, but most people- money is their driver. And that can lead to, really, not an emotional commitment to the process that we’re trying to do. Right?
[00:07:14] So there’s a couple of things that happen with money. One of them is fear of loss. So, one of the ways that that people control you and companies control you and even in business you get controlled is that you fear losing money. And again, going back to ILD and understanding offense and defense, when we get into that position where we feel the fear of loss, money can be a motivator at that point. But I never want you to feel the fear of loss. I want you to build enough skills and talents that you don’t have to worry about that. I want you to be able to do things and create income stream so the fear of loss never comes. I’m not afraid. I mean, it just is what it is. There’s enough things going on if I need to go out and make money, I go keynote more. If I need to make money, I’ll go coach more. I don’t have the fear of loss anymore. Plus, I’ve got my lifestyle dialed in where it’s just awesome. I don’t need a lot of things. I guess I came ahead of that or just came forward or… I’m trying to think of a word this morning; I can’t get a word out. But I’ve just kind of transcended- we’ll use transcend- the need for a lot of material things. Do I have big goals? Yeah. Love to have a private jet at some time, but it’s not driving me. It’s not like “oh my gosh!” if that doesn’t happen. And, I mean, I’m sure you would love to have wonderful, awesome things. I drive a Jeep. I love my jeep. I’ve got a nice, beautiful house. What else do I need? I mean, that’s just me. I’ve set my lifestyle up so I don’t have a fear of loss with that because of that aspect of it, and that’s why I just scream, “get your lifestyle in a great place so that you don’t have to worry about those things.” And then, if you want something nice, great. Then save up and get yourself in a place where you can buy it. But don’t buy it because you want to keep up with the Joneses or for some status symbol. OK? That’s where money really becomes a problem. It becomes where you’re afraid to lose it, and, all of a sudden, you’re afraid to lose it, so you start doing things different for money. Or you need money so you start doing things differently for money. I see this a lot in coaching. I see a lot of people in coaching just take on all the clients they possibly can, and they just try to solve every problem they can, and a lot of them they can’t, but they need the money. So be cautious of that.
[00:09:34] And then be cautious of keeping up with the Joneses. We’ve all heard that the neighbor got a new car so I’ve got to go buy a new car. “I got to replace my car every three years.” You don’t have to replace your car every three years. We buy ours. We pay for them. It’s great. And a lot of times you get zero percent financing if you use your credit right. So, you’re using their money, and, at the end of the term, you have the car. When I drive mine for two, three, four years, I don’t know, then I’ll go get another one. But I’m almost to the point where I’m flipping them. like my last Jeep, I had $24,000 in equity, and I got a new Jeep for $10,000 at zero percent interest. So, when you start understanding that game, you don’t have to keep up with the Joneses. Keep a car for a little while. Pay it off. Now is there a time when you lease? Yes. If you have a business, you understand the tax situations. There are times you can lease. I’m cool with it, but understand your situation. Again, it’s about not keeping up with the Joneses. It’s about building your lifestyle on the things that you want, which is so important. OK?
[00:10:28] Another way that money can be a motivator, and I’ll tell you this, it can be from the standpoint of, you look at Andrew Carnegie. Again, it’s really pronounced Carnegie, but this standard kind of way people say it is Carnegie. Carnegie Hall. Carnegie Museum. Everything that Andrew Carnegie did. And if you look at his story, he actually generated the revenue or built his wealth so that he could give it away. And he did. I mean, it wouldn’t be for it, we wouldn’t have all the things that Andrew Carnegie did. You know? We wouldn’t have Carnegie Hall and all the wonderful things, the library system, and everything that he put together. So that’s where he really became driven was that he wanted to give it away. So money can be a motivator there. You know, I’m starting to focus a little bit more on money because I need ads, and we need to grow this business faster. As you know, that’s my mission right now is to get this out to as many people as possible. And we’re restructuring the website. We’re transcribing all the podcasts over all the years, 2000 somewhere, Putting all those up. We’re building a whole new website. The reason we’re doing it is to get to more people. All of that takes a lot of money and a lot of time. But, you know what? I’m to the point right now where it’s… I just want to make impact; I’m tired in the noise out there, and we’re focusing on doing that. You being here helps me do that, and I will make some more announcements of what we’re doing with that and how you can help because there’s going to be some things you can do as we spread this out there. But giving it away, that’s another motivator. So, yeah, it can be a motivator in that situation, where it can’t be keeping up with the Joneses, fear of loss, and then your comfort level where you just keep increasing it. OK?
[00:12:04] Money encourages self-serving, short-term behavior. That’s really the underlying problem. That when you use money as a motivator, it encourages self-serving, short-term behavior, and that goes for an organization and that goes for you. So, if you think about that, self-serving, short-term behavior is against pretty much what we discuss. Because you hear me say, “we underestimate what we can do over a long amount of time, but we overestimate in a short amount of time.” So, if we’re just using money as a motivator and not giving it away and doing some of the other areas I’m talking about, then it’s a self-serving, short-term behavior. So be cautious with that. And then again, an over-reliance on money is a motivator. It erodes emotional commitment. And this is another important one you’ve got to be very cautious of. That emotional commitment is what drives us through when we’re having the issues we’re having and getting through the things that we need to. What I would rather have you focus on is pride of workmanship and pride of value. And if you become a value-oriented person, and you put value into the world and you focus on value, and then you concentrate on managing your energy and your peace, you’re going to win. But when it’s just about the money, you don’t have pride and you’re not really focusing on the long-term. And, again, money- when you have a reliance on money as a motivator, it’s a self-serving, short-term behavior. That’s what it does. Then we aren’t having that long-term value play that is going to make such a difference in your life. How do I know? I know that because when I started Morning Coach and when I started this thing going, that’s how I was. Now, I didn’t understand these dynamics that I understand today. What I was doing was a lot of short serving, you know, no long-term behavior. Which I totally flipped the switch on that over the last few years because I had to. Right? And it’s just, it’s just me growing as a person too and recognizing that it’s not just about the money here. We got to really help people change lives.
[00:14:01] So what I want you to think about as we go into this weekend is financial motivation and “are you using money as a motivator?” And again, if you’re giving away, that’s fine. But are we spending too much time with financial monetary goals? Or are we focused on bigger picture things that are really going to create that emotional passion? That’s going to get you going. That’s what I want you to think about and recognize that, hey, money is not a negative. I love money, and I want you to love money. We just can’t make it the only motivator unless we’re going to give it away. I’m cool with that. But most of us, that’s not what our thought process is at this point. So, I want you to find things that are going to really help you structure and keep you going like the Sacred Six process and the things we’re doing here at MorningCoach.com. You got that? You get this “is money a motivator?” That’s the idea. Well, it can be, but it’s not really. We’re going to get things that are deeper, and I’m going to help keep you motivated right here every morning on MorningCoach.com. So, get out there. Have a fantastic day. I love you. I do. And I’ll be back with more here, tomorrow. We’ll talking about defeating confusion. Don’t miss it. Get out there. Have a great day. I will be back with more right here on MorningCoach.com.