The Greatness Gained Podcast Recap - The 5 Money Mistakes That Keep You Poor (Fix These Now)

In this episode of The Greatness Gained Podcast, Jack Smith delivers a no-nonsense breakdown of the five most common money mistakes that quietly keep people broke and how to fix them before they destroy your financial future.

Jack starts with Mistake #1: Spending Like a Rich Person Before You Become One, explaining how lifestyle creep traps people in debt even as their income grows. His fix? Cap lifestyle upgrades and prioritize asset-building over flexing.

Mistake #2: Confusing Income with Wealth is a critical mindset shift. Jack highlights how even six-figure earners can be broke if they own nothing. The solution? Focus on building net worth and accumulating income-producing assets.

Next up is Mistake #3: Treating Credit Like Cash. Many fall into the trap of swiping for convenience and paying for it with interest. Jack urges listeners to use credit only when they can pay it off fast and recommends debt repayment strategies like the avalanche or snowball method.

Mistake #4: Ignoring Financial Education exposes the fact that most people plan vacations more carefully than their financial futures. Jack calls for a weekly habit of learning about money through books, podcasts, and videos and offers top book recommendations to get started.

Finally, Mistake #5: Trading Time for Money Forever hits on the danger of staying stuck in the grind. Real wealth comes from leverage, whether it’s owning a business, buying real estate, or building digital assets that earn while you sleep.

Jack closes with a powerful reminder: all five mistakes are fixable, but only if you act. If you want freedom, you have to start making moves that build long-term wealth instead of chasing short-term validation.