Do you ever wonder why, no matter how much your business grows, your personal finances and money habits still feel out of control?
If you’ve ever felt like your success at work doesn’t translate to financial peace at home, this episode is your wake-up call. Jim Schleckser sits down with money expert and bestselling author Mike Michalowicz—creator of Profit First—to talk about why most people, even entrepreneurs, struggle with money and how simple behavior shifts can create real financial freedom.
In this episode, you’ll discover:
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How to “pay yourself first” in a way that guarantees profit instead of hoping for it.
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The behavioral money trap that keeps even smart business owners broke—and how to intercept it.
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A simple system to reduce financial stress for you and your employees, leading to happier, more productive teams.
Hit play now to learn Mike’s practical, life-changing approach to mastering your money habits—and start keeping more of what you earn today.
Building a Healthier Relationship with Money
[02:30] – The Profit-First Wake-Up Call
Mike Michalowicz shares how a simple mindset shift—treating profit as the starting point instead of the leftover—became the foundation of his bestselling Profit First method.
[06:50] – Why Most Entrepreneurs Struggle Financially
Even successful business owners often fail to pay themselves first. Mike explains how behavioral patterns, not intelligence, are what sabotage long-term financial stability.
[10:45] – Artificial Scarcity and Smarter Spending
Jim and Mike discuss how limiting your available resources can actually make you more resourceful and disciplined with your money habits.
[15:10] – Money, Stress, and Employee Performance
Mike reveals that over 70% of people experience daily financial worry—and how that stress directly impacts employee productivity and overall well-being.
[20:20] – The Behavioral Intercept System
Mike introduces his “behavioral intercept” concept: a practical system for automatically redirecting bad money habits into smart ones by using multiple, purpose-based bank accounts.
Mastering Money Habits for Life and Work
[24:35] – The Power of Visualizing Your Finances
Learn how seeing exactly where your money is pre-allocated creates clarity and confidence—without complex spreadsheets or strict budgeting.
[28:15] – Why Rewards Matter
Mike emphasizes that sustainable money habits require regular rewards, not deprivation—because a healthy financial system should include guilt-free spending.
[32:00] – The Four Financial Seasons
Mike outlines the “seasonality of money”—recovery, funding, activation, and balance—and how reframing financial phases helps people escape the “I am in debt” identity.
[38:40] – The 4% Rule and Rethinking Retirement
Jim and Mike dive into how much you actually need to retire comfortably and challenge the myth of a fixed “retirement age.”
[45:20] – Invest in Yourself First
The episode closes with a powerful reminder that the best investment isn’t crypto or stocks—it’s in your own growth, knowledge, and disciplined money habits.
About Mike Michalowicz
Mike Michalowicz is the entrepreneur behind four multi-million-dollar companies and the author of bestselling business books including Profit First, Clockwork, The Pumpkin Plan, and All In. His newest book, The Money Habit, is a groundbreaking approach to personal finance. The television host of The 4 Minute Money Maker and a former Wall Street Journal columnist, Mike now travels the world helping individuals grow thriving businesses and live richer lives.