The Money Habits Keeping You Broke — And How to Rewrite Them Before 2026 - Andy Tanner, Del Denney

Key Concepts

• Habits and Financial Success: The core argument is that financial struggles are often rooted in ingrained habits rather than a lack of money itself.
• Bad Habits Keeping People Broke: Identification of common detrimental financial behaviors.
• Good Habits for Wealth Building: Strategies and practices to cultivate financial prosperity.
• The Power of Six: A framework for financial tracking and planning.
• Systems vs. Emotion: The importance of structured approaches over emotional decision-making in finance.
• Dreaming as a Catalyst: The role of envisioning a desired future in driving financial action.
• Stockcastbonus.com: A resource for tools and information to support habit change.

Common Habits Keeping People Broke

Andy Tanner identifies several prevalent habits that hinder financial progress:

1. Working for Money: This is highlighted as a primary habit, directly contradicting Robert Kiyosaki's lesson from Rich Dad Poor Dad that "the rich don't work for money." The majority of people spend a significant portion of their day earning a paycheck, which is described as a "rough habit for wealth building." While immediate quitting isn't always feasible, the habit of needing a paycheck from a boss is detrimental.
2. Paying Debts Before Assets: Spending money on liabilities (debts) before investing in assets is identified as a "rough habit." The decision-making process for allocating funds between debt repayment and asset acquisition is crucial.
3. Emotional Spending/Investing: Making financial decisions based on emotions like fear and greed, rather than a systematic approach, is a significant obstacle.
4. Sins of Omission: This concept, explained through a religious analogy of "thou shalt not" (commission) versus "thou shalt" (omission), refers to the failure to develop positive habits. For instance, the habit of not learning or increasing knowledge weekly is a sin of omission, as the sixth lesson of Rich Dad Poor Dad emphasizes that "the rich work to learn."

Clarification of "Sins of Omission"

Andy Tanner clarifies "sins of omission" by drawing parallels to the Ten Commandments.

• Sins of Commission: These are actions one should not do, like murder or theft ("thou shalt not"). In a financial context, "thou shalt not work for money" is presented as a sin of commission that keeps people broke.
• Sins of Omission: These are actions one should do but fails to, like honoring parents ("thou shalt honor thy father"). In finance, the habit of not learning weekly ("thou shalt learn") is a sin of omission. This means that while someone might not be actively doing something "bad," they are also not actively doing something "good" that would lead to financial growth.

The Habit of Saving Only and Paying Off Debt First

The discussion touches upon the habit of solely saving and prioritizing debt payoff. Andy suggests that the Rich Dad Cashflow Game can provide answers to whether paying off debt or acquiring assets is the better use of money. While consumer debt might not be ideal, the decision depends on how money works for an individual. A critical habit to break is paying bills first instead of "paying yourself first."

Replacing Broke Habits with Wealth Habits: The Weekly Meeting

The second half of the podcast focuses on actionable strategies for habit transformation.

The "Power of Six" Weekly Meeting

Andy Tanner emphasizes a crucial weekly habit: holding a financial meeting. This habit, learned from Robert and Kim Kiyosaki, involves reviewing and planning based on six key financial numbers.

The Six Numbers (The Power Six):

1. Income: Money coming in.
2. Expenses: Money going out.
3. Net Income/Cash Flow: Income minus expenses.
4. Assets: What you own.
5. Liabilities: What you owe.
6. Net Worth: Assets minus liabilities.

Methodology:

• Frequency: Weekly (ideally 52 times a year).
• Duration: About an hour or less.
• Process:
  • Compare Current to Dream Financial Statements: Create a current financial statement and a "financial statement of your dreams."
  • Identify Discrepancies: Analyze the differences between the two statements.
  • Ask "What If" Questions: Determine what numbers need to change (e.g., more/less debt, more/less assets, more/less cash flow, more/less expenses). This process is described as "financial education."
  • Key Performance Indicators (KPIs): The six numbers act as personal KPIs that can be tweaked and improved.
  • Calendar Integration: Schedule specific actions on the calendar to achieve desired changes in the six numbers. Examples include writing a covered call for more income or meeting with a private money lender for asset acquisition.
  • Learning: If stuck on a particular number, commit to studying and learning how to improve it.
• Benefits: This habit is presented as a "game-changer" that influences spending, actions, purchases, and earnings. It also fosters better communication and alignment within relationships, particularly with a spouse or partner.
• Resource: An ebook titled "The Power of Six" is available at stockcastbonus.com.

Building Systems Instead of Relying on Emotion

Andy Tanner discusses the importance of systems, stating, "people don't rise to the level of their goals, they fall to the level of systems or habits."

What a System Looks Like: Rules, Principles, and Policies

• Team Support: Systems often involve a team to provide support.
• Standard Operating Procedures (SOPs): Systems are built on rules, principles, and procedures.
  • Example (Stocks & Options):
    • Selling options: Always 6 weeks or less.
    • Buying options: Usually 6 weeks or more, often two to three months.
    • Selling deltas: 10 or lower, typically high single digits.
    • Position Sizing: Not putting too many eggs in one basket, emphasizing position sizing over diversification.
    • Timing: Utilizing specific dates, like the third Friday of the month for options expiration, and planning actions around it (e.g., writing for the next month on that Friday or the following Monday).
• Personal Investing Policy: Similar to government fiscal and monetary policies, individuals should have a personal investing policy that guides their system.
• Individual Power: Andy argues that personal policies and systems have "much more horsepower" and potential than external systems (corporate, government, Wall Street) because they are tied to individual values and freedom.

The Single Most Impactful Habit for Long-Term Impact

When asked about the single habit with the biggest long-term impact, Andy reiterates: the weekly financial meeting. This habit, focused on the six numbers and calendar planning, is deemed the most crucial for moving the needle towards financial success.

Building Momentum Going into the New Year (2026)

To build momentum and create a spark, Andy suggests indulging in dreaming.

The Dream Life Exercise:

1. Choose a Dream: Inspired by the Cashflow Game, the first step is to choose a dream.
2. Build a Dream Life: Envision an ideal lifestyle, removing negativity and "I can't" thinking. Consider categories like:
   • Homes
   • Vehicles
   • Travel
   • Experiences for children
   • Food preferences (e.g., McDonald's vs. organic cooking)
   • Legacy
3. Price the Dream: Quantify the cost of this dream life by pricing out each category. This transforms the dream into a tangible "project."
4. Identify the Path: Once the dream is priced, a clear line can be drawn from the current situation to the desired future. This makes the goal feel achievable.
5. Leverage and Compounding: The realization of the dream's cost can lead to strategic use of leverage (debt) and compounding to achieve it, even if it requires significant effort and sacrifice.
6. Resource: A calculator for building a dream life is available at stockcastbonus.com.

Key Takeaway for Momentum: Indulge in dreaming and consider how to make the most of one's remaining time. Seeing opportunities can be a powerful motivator.

Specificity in Dreaming

Dell Denny adds that specificity is crucial when dreaming. Instead of a vague "go to Europe," aim for "go to Rome and eat Cacio e Pepe." When a price tag is attached to specific desires (e.g., a particular hotel suite, flight, or restaurant), the dream becomes concrete and actionable. This transforms the dream into a project with a clear "price to be paid" in terms of work, learning, and energy.

Conclusion

The podcast concludes by emphasizing that habits shape the future. To achieve a different financial outcome in 2026, individuals must start implementing new habits today. The resources at stockcastbonus.com are highlighted as essential tools for shifting from "broke habits" to "wealth habits." Listeners are encouraged to like, subscribe, and share the episode with those who need a financial wake-up call.