On Purpose with Jay Shetty
Lewis Howes: The Scarcity Belief That’s Blocking You from Making Money & How to Feel Rich Even When You’re Broke
Mon, 10 Mar 2025
Have you ever avoided looking at your finances? If money were a person, how would you describe your relationship with it? Today, Jay welcomes back his long time friend, Lewis Howes, a New York Times bestselling author, entrepreneur, keynote speaker, and former professional athlete. He is the host of The School of Greatness podcast, one of the top-ranked business and self-development shows in the world, where he interviews some of the most influential leaders in business, wellness, and personal growth. The conversation highlights key principles for transforming one's financial mindset, including the power of awareness, gratitude, and generosity. Jay and Lewis examine how early experiences with money influence current financial behaviors and emphasize the importance of developing a mindset of abundance rather than scarcity. By recognizing and reshaping these beliefs, financial opportunities can be approached with clarity and confidence. Lewis emphasizes on the distinction between making money easy and chasing easy money. While many seek quick financial success, they explore the pitfalls of short-term thinking and the long-term benefits of building sustainable wealth through skill development, strategic planning, and emotional resilience. The concept of mapping out financial goals is introduced as a way to create structure and direction in money management. In this interview, you'll learn: How to Identify and Change Your Money Beliefs How to Develop Awareness Around Your Financial Habits How to Shift from a Scarcity Mindset to an Abundance Mindset How to Invest in Yourself to Build Long-Term Financial Success How to Create a Clear Financial Plan for Stability and Growth How to Use Energy, Passion, and Curiosity as Valuable Currency Financial freedom isn’t just about earning more—it’s about breaking free from limiting beliefs, embracing abundance, and making intentional choices that align with long-term success. With Love and Gratitude, Jay Shetty Join over 750,000 people to receive my most transformative wisdom directly in your inbox every single week with my free newsletter. Subscribe here. Join Jay for his first ever, On Purpose Live Tour! Tickets are on sale now. Hope to see you there! What We Discuss: 00:00 Intro 01:06 Awareness Around Money and Finances 06:23 How to Get Out of Debt 09:44 How to Attract Financial Abundance 14:28 Rewire Your Brain to Earn More Money 16:22 The Mindset Habit to Unlock Abundance 20:11 Create an Opportunity to Showcase Your Value 27:08 3 Skills to Create Valuable Connection 33:41 Building a Foundation for Your Dream Career 35:44 Can You Manifest Money? 41:01 What’s Your Relationship with Money? 48:32 Generosity Attracts Abundance 53:10 Lessons from Quick and Easy Money 57:55 Invest in Your Self Growth 01:00:51 Money Cant Solve All Problems Episode Resources: Lewis Howes | Website Lewis Howes | TikTok Lewis Howes | Instagram Lewis Howes | Youtube Lewis Howes | Facebook Lewis Howes | LinkedIn Lewis Howes | X Make Money Easy: Create Financial Freedom and Live a Richer LifeSee omnystudio.com/listener for privacy information.
Chapter 1: How can you identify and change your money beliefs?
But one night, a new door opened, and I made it into the rooms of recovery. The path would have roadblocks and detours, stalls and relapses. But when I was feeling the most lost, I found hope with community. And I made my way back. This season, join me on my journey through addiction and recovery. A story told in 12 steps.
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was a beautiful thing that we'd always repeat in the monastery it was like god doesn't see what you give god sees what you hold back and so there's not this you know because we can sometimes become egotistical about how much we give and it's like well you've got one hand behind your back and that's you just made that point it's that it's that pinch it's that are you giving where there's a challenge to give yeah because that's where we're healing
You can get really egotistical. Like, hey, if you were worth a billion and you signed a million dollar check, like I know people that are making three million in interest a day. Like, so you writing a million dollar check is not the same. This also applies when you have very little. So my parents who didn't make a lot, When they were giving... It felt like a lot. It felt like a lot.
And so, like, what we're saying is that this thought of being a giver has to be core to us.
You know, my dad was a lot like that, too. He had strangers knocking on the door that somehow convinced him to stay with us for, like, three months in the summer. And he just opened his doors and said, yes. Like, okay. And so... he was just like, like your parents, like, okay, you need a place to stay for a week, a month, two months. Cool. We'll figure it out. We'll feed you. We'll do this.
As long as we feel like you're doing something good and we're trying to support you. And I think it's, it don't have to give money to feel rich.
Yes.
You can be very generous with your time, with your, resources in other ways with your food. It's like you can give in other ways and create a richness of life. And that's the key is to feel rich and abundant and free. And if you feel that when you start making money, you're going to continue to feel free.
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Chapter 2: What is the importance of developing awareness around financial habits?
Right? So if you think I'll put money into this now, I'll make something in a week, chances are, like you said, you lose it immediately. You lose it in a day. You lose it in a day. And the reason that happens is because you actually don't know why you're putting your money there. So it goes back to your first point of awareness. It goes back to something you call the mapping habit, the plan.
Because what's going on is you're saying, I want this to happen now. I want this to happen immediately. I want this to happen quickly. So I know zero about this crypto. I know zero about this property. I've had friends... literally gamble away their life savings because they heard all their friends were making money through crypto.
When people say to me, I've got this much money, what should I invest in? I'm like, what do you know about? Invest in that. What do you actually know about? Like, what do you actually have experience, knowledge, wisdom in? Because guess what? Because of that, you'll make money on it because you actually understand it. Again, it goes back to the point of respect.
If we don't respect our audience, it doesn't grow. If you don't respect your community, it doesn't grow. If you don't respect your clients, it doesn't grow. By us saying, I want to make money, but I know nothing about this industry, it means I'm disrespecting the industry.
And sure, there may be one person who had some lucky story that they tell you about, but the truth is most of us are not going to get there. So if you have a little bit of money and you're like, Jay, I've only got $100 to invest. Lewis, I've only got $1,000 to invest. And you ask me where to put it, Put it in what you know. Put it in yourself if that's all you know is yourself and your skills.
And I think so many of us are looking for that ticket. But actually, that investment in yourself will pay so many dividends.
I'm glad you said this because a week ago, someone literally asked me if I have $1,000 right now to invest, where should I invest it? And everyone says, put it in crypto, put it in real estate funds, put it in all these things. Don't listen to any of that. When I had no money, there was two things that I needed to create more of a currency within me. And that was courage and confidence.
I lacked the courage to develop certain skills. When I had courage to go all in on learning public speaking or learning how to write, I didn't know those skills. I actually lacked those skills, and I was afraid to be a failure at those things by trying them.
But by having the courage to invest my time and energy in a public speaking class, in a writing coach, I didn't have the skills, but I developed the courage. That courage created the actions to create confidence. That confidence created a currency within me of belief. That belief dictated my behaviors to start charging more, to go out there and ask for more, to put myself out there in bigger ways.
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