21 Dec 2023 Podcast: Guest – From $70K in Credit Cards to Financially Free in 5 Years with Andy Lloyd
In this podcast episode with Andy Lloyd, we delve into his remarkable journey from financial struggle to achieving his goal of financial freedom by age 44.
Andy shares how he transformed his mindset about money, explains the importance of Robert Kiyosaki’s Cash Flow Quadrant, and offers insights into building passive income streams through business ownership and investments.
Don’t miss this inspiring conversation about achieving financial freedom and shifting your financial mindset.
Find out more about Andy’s wine business: https://www.entrevineur.com.au/
Find out your next step in property finance:
You Have My Interest is brought to you by Everlend, a mortgage and finance broking firm built for the purpose of educating and empowering you to make informed financial decisions tailored to your wealth goals. Find out more and book in your free initial consultation at
https://www.everlend.com.au/
There’s plenty more great content to come … so make sure you subscribe now on Apple Podcasts or Spotify so you don’t miss a thing.
You Have My Interest is brought to you by Everlend, a mortgage and finance broking firm built for the purpose of educating and empowering you to make informed financial decisions tailored to your wealth goals. Find out more and book in your free initial consultation at https://www.everlend.com.au/
Get in touch:
Find out more about You Have My Interest at everlend.com.au/podcast and connect with us at podcast@everlend.com.au
You Have My Interest provides information and educational content relating to mortgages, finance and property. You Have My Interest‘s content is general in nature and does not take into account the individual financial, legal or tax needs or objectives of its audience members.
It is not intended as a substitute for professional advice. Listeners should seek out a licensed professional to discuss their individual financial, legal and tax requirements.
If you need mortgage or finance advice tailored to your own personal situation, contact Everlend today for a free consultation. Everlend are authorised credit representatives of Loan Market Pty Ltd, Australian Credit Licence number 390222.
Podcast produced with Apiro
Please find a Podcast summary below with the interview highlights:
Podcast Overview
Evelyn interviews Andy, a client and friend, about his personal journey with money, finances, and achieving financial freedom. Andy shares his transformative story, moving from financial struggle and debt in his 20s and 30s to achieving financial independence by age 44. His experiences highlight the mindset shifts, practical steps, and personal growth needed to change one’s financial trajectory.
Key Points Discussed
- Financial Struggles and Early Mindset
- In his 20s and early 30s, Andy lived beyond his means, accumulating significant debt.
- Despite earning a good income later as a wine buyer, he struggled with money management, living paycheck to paycheck without savings or assets.
- Turning Point and Goal Setting
- At 38, Andy realised his money mindset needed to change and set a goal to be financially free by 43.
- He invested heavily in self-development, education, and mentorship, despite being $70,000 in debt.
- Mindset Shift and Awareness
- Andy identified limiting beliefs about money and replaced them with new frameworks.
- He began tracking every expense to build awareness and gain control over his finances, inspired by the book The Compound Effect.
- Practical Steps Towards Financial Freedom
- Implemented lessons from Robert Kiyosaki’s Cash Flow Quadrant, moving from being an employee to building a business asset.
- Founded a successful wine business with a partner and invested in property and shares for passive income.
- Money as Energy and Gratitude
- Andy views money as a form of energy that should flow, rather than be hoarded.
- He emphasised giving to charity, which helped him relax, develop gratitude, and attract opportunities.
- Overcoming Scarcity and Growing Wealth
- Shifted from a scarcity mindset to treating money like a garden, nurturing growth while allowing flow.
- Learned to accept and learn from financial losses, viewing them as part of the growth process.
- Defining Financial Freedom
- For Andy, financial freedom means passive income exceeding expenses.
- While investments like property and shares are valuable, he believes business assets offer stronger monthly cash flow.
- Future Goals and New Dreams
- Having achieved financial independence, Andy focuses on projects that align with his passions, including:
- Regenerating natural landscapes.
- Creating a hospitality space promoting meditation and community.
- Establishing a personal retreat in nature.
- Having achieved financial independence, Andy focuses on projects that align with his passions, including:
- Advice for Others in Financial Struggles
- Relax and focus on personal growth.
- Start tracking finances to build awareness and control.
- Seek education through books like Rich Dad Poor Dad or guidance from mentors.
- Surround yourself with a supportive environment conducive to growth.
- Closing Thoughts
- Andy encourages listeners to approach money with openness, embrace mistakes as learning opportunities, and focus on long-term growth.
Conclusion
Andy’s journey highlights the importance of self-awareness, shifting limiting beliefs, and taking practical steps to achieve financial freedom. His perspective on money as energy and his emphasis on gratitude and giving provide a refreshing, holistic view on personal finance.