Scott Galloway: The BIGGEST Money Mistake That’s Keeping You Broke!
On Purpose with Jay Shetty
iHeartPodcasts
4.8 • 28.5K Ratings
🗓️ 17 February 2025
⏱️ 91 minutes
🧾️ Download transcript
Summary
Do you track your spending?
What’s your biggest money mistake?
In today’s episode, Jay welcomes Scott Galloway, one of the most insightful voices in personal finance and wealth creation. If you've been struggling to make ends meet, wondering why you're not earning enough, or seeking financial security, this conversation is a must-listen.
Jay and Scott kick off by exploring the surprising reasons why 30-year-olds are earning less than expected. They dive into the practical steps individuals can take to change their financial trajectory, discussing topics like saving, investing, and overcoming mental blocks to making money.
Scott emphasizes the importance of financial literacy, encouraging listeners to start conversations about money and investments. He also challenges conventional wisdom, suggesting that pursuing talent over passion might be the key to financial success.
In this interview, you'll learn:
Why 30-year-olds are earning less and how to break the cycle
Practical strategies for saving and investing
How to overcome mental blocks to making money
Why talent trumps passion in achieving financial success
How to rewire your stressful relationship with money
Effective communication strategies for discussing money in relationships
If you've felt frustrated, stuck, or uncertain about your financial future, remember this: taking control of your financial health is within your reach. With this conversation, you'll gain the insights and practical advice needed to transform your relationship with money.
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.
What we discuss:
00:00 Intro
02:00 Why Are 30-year-olds Earning Less?
06:07 What Can They Do To Change This For Themselves?
10:52 How Do I Save?
16:19 What Blocks Us From Making Money?
22:39 Should Young People Aspire For The American Dream?
25:02 Financial Security: What To Pursue
31:35 Rewiring Your Stressful Relationship With Money
38:03 Communicate About Money In Healthy Relationships
41:03 Talent Over Passion
45:52 Finding Your Talent
49:26 Every Experience Is An Added Skill
55:22 Forgive Yourself
59:15 Prioritizing And Evaluating Your Efforts
01:03:23 Building A “Great” Mindset
01:08:29 The Financial Content
01:12:49 Summary
01:13:41 Scott on Final Five
Episode resources:
Scott Galloway| Website
Scott Galloway| Instagram
Scott Galloway| Tiktok
Scott Galloway| Linkedin
Scott Galloway| YouTube
Scott Galloway| X
See omnystudio.com/listener for privacy information.
Transcript
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| 0:00.0 | Hey everyone, it's Jay Shetty and I'm thrilled to announce my podcast tour. For the first time ever, |
| 0:06.5 | you can see my on-purpose podcast live and in person. Join me in a city near you for meaningful, |
| 0:13.3 | insightful conversations with surprise guests. It could be a celebrity, top wellness expert or a CEO |
| 0:20.3 | or business leader. |
| 0:21.7 | We'll dive into experiences designed to inspire growth, spark learning, and build real connections. |
| 0:28.4 | I can't wait to see you there. |
| 0:30.3 | Tickets are on sell now. |
| 0:31.7 | Head to jshetti.me and get yours today. |
| 0:35.0 | If you are doing a lot of side hustles, it's very, very difficult to be great at your main |
| 0:39.2 | hustle. |
| 0:39.7 | The only way you're going to build real wealth and economic security is to go all in on one thing. |
| 0:44.6 | That is greatness, focus. |
| 0:47.0 | None of this matters. |
| 0:48.0 | None of it means a f***ing thing if you can't have deep and meaningful relationships. |
| 0:53.6 | Scott is a professor of marketing at NYU Stern School of Business. |
| 0:57.0 | He's a best-selling author. |
| 0:59.0 | He has earned a massive following through his lectures, podcasts, and YouTube channel. |
| 1:03.0 | Scott Galloway. |
| 1:05.0 | How do we rewire our relationship with money? |
| 1:08.0 | Because most of us have a stressful relationship with money. I think we should have a class called adulting in your senior year of high school that says, |
| 1:14.9 | my kid can do derivatives, but I just figured out he doesn't understand the interest rate on his credit card. |
| 1:19.1 | You want to be good at money, put down the facade, and start talking to people about their investments, |
... |
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