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Kevin O'Leary: This $28 Habit Is Keeping You Poor! Every Time You Get Paid, Do This!

July 05, 2025 / 01:30

This episode covers personal finance strategies, the impact of relationships on financial stability, and entrepreneurship insights. Key discussions include budgeting for housing, the importance of financial planning, and the influence of a partner on financial decisions.

The host shares lessons learned from their mother, highlighting her extraordinary performance in managing family finances and supporting education. They emphasize the importance of investing wisely and avoiding unnecessary expenses.

There is a focus on the common mistake of overspending on housing, advising listeners to keep mortgage costs manageable. The host also discusses the critical role of financial stress in relationships, noting that many marriages can survive infidelity but struggle under financial pressure.

Entrepreneurship is addressed, with the host stating that not everyone can be a successful entrepreneur, citing specific traits needed for success. The episode concludes with a call to action for listeners to adopt effective financial habits to achieve significant wealth.

TL;DR

The episode discusses personal finance, housing budgets, and entrepreneurship insights, emphasizing financial planning and relationship impacts on money management.

Video

00:00:00
That is the stupidest thing you can ever
00:00:02
do. What is the most important thing for
00:00:03
someone who's just trying to grow their
00:00:04
money? So, I learned this from my mother
00:00:06
and I actually built a whole company
00:00:07
around it. Yeah, there she is. So,
00:00:15
I haven't seen that picture in a while.
00:00:23
Damn. I mean, what she did, the
00:00:25
performance was extraordinary. And with
00:00:27
that, she put my brother and I through
00:00:29
college. She took care of her family
00:00:31
when they fell on hard times. When I saw
00:00:34
the results, I said, "That's it. That's
00:00:36
how I'm going to invest for the rest of
00:00:37
my life." So, talk me through this. I
00:00:39
want as much detail as possible. Okay,
00:00:41
let's start with this. There's a lot of
00:00:43
people don't like me for my blindness. I
00:00:45
don't care because there's people that
00:00:46
don't think ahead and find themselves
00:00:48
mired in debt, but then pissing away
00:00:49
money, spending $28 for lunch. I mean,
00:00:52
that's just stupid. What about the
00:00:54
house? The mistake that people make is
00:00:56
they buy too much house. Never let the
00:00:59
mortgage and the cost of maintaining the
00:01:01
house be more than onethird of your
00:01:03
income. Now, how much does the person
00:01:05
that you fall in love with have an
00:01:06
impact? You kidding? It's everything.
00:01:08
And I did some research and most
00:01:10
marriages can survive infidelity. They
00:01:12
can't survive financial stress. But if
00:01:14
everybody that's listening does this one
00:01:16
thing, you will have over a million and
00:01:17
a half dollars. Kevin, can anybody be an
00:01:21
entrepreneur? No. Only a third of people
00:01:23
can become successful entrepreneurs
00:01:25
because there's a couple of things that
00:01:27
you must achieve to be successful.

Episode Highlights

  • Lessons from My Mother
    Learned valuable financial lessons from my mother, who supported our family through hard times.
    “She put my brother and I through college.”
    @ 00m 27s
    July 05, 2025
  • The Cost of Living
    Avoid financial pitfalls by not overspending on housing and living within your means.
    “Never let the mortgage and the cost of maintaining the house be more than one-third of your income.”
    @ 00m 56s
    July 05, 2025
  • Entrepreneurship Realities
    Only a third of people can become successful entrepreneurs due to specific requirements.
    “Only a third of people can become successful entrepreneurs.”
    @ 01m 23s
    July 05, 2025

Episode Quotes

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