The #1 MISTAKE that's keeping you poor (and how to fix it)
What really makes a person wealthy? Is it money, possessions, or something deeper? In this episode, I sit down with wealth coach Chinkee Tan to unpack the difference between riches and true wealth, why wisdom matters more than income, and how to build a financial mindset that lasts a lifetime.
What does it mean to be truly wealthy?
Wealth is not just about what’s in your bank account. It’s also about mindset, values, and purpose. Money can buy convenience, but not peace, health, or love. True wealth is about gratitude, generosity, and wisdom. Money will only magnify who you already are.
1. Don’t fall into the comparison trap
Stop comparing yourself to others. It either makes you feel insecure or prideful. Instead, compare yourself to your past self. Focus on growth, not competition. Gratitude is a powerful antidote: notice your blessings and look for ways to bless others. Look at your past, not your neighbor. Are you better than who you were yesterday?
2. Be content, but not complacent
Contentment means recognizing what you have as enough. But it doesn’t mean you stop striving. Growth should still be part of your journey. Balance ambition with gratitude so that striving doesn’t turn into greed. Contentment and growth can co-exist.
3. Seek wisdom before wealth
Wealth without wisdom can be lost. Wisdom allows you to create, grow, and protect what you earn. Even King Solomon (one of the wealthiest in history) asked for wisdom, not riches. Money is useless without wisdom, but wisdom can always create wealth.
“If you gain wealth without learning how to manage it, you’ll lose it just as quickly.”
4. Understand the limits of money
Money can buy a bed, but not peaceful sleep; A house, but not a home; Medicine, but not health. It can make life more comfortable, but it cannot buy the things that matter most.
5. Heal your “money wounds”
Many of us carry fears and mindsets about money that keep us from building wealth. Scarcity mindset: always afraid of losing money. Guilt mindset: ashamed of having “too much.” Fear mindset: hesitant to invest or grow. Chinkee developed Wealth Cards as a tool to help reframe these thoughts and build healthier financial habits.
6. Let money reveal (not define) your character
Wealth, fame, and power don’t change people, they reveal what’s already in their heart. If you’re greedy, more money magnifies greed. If you’re generous, more money magnifies generosity. True wealth is not about accumulation, but about contribution. The purpose of wealth is not greed. It’s generosity.
7. Use money as a blessing
Be a good steward of what you have. Give, share, and invest in things that last. Remember that you are blessed to be a blessing.
“Our money isn’t just for us, it’s for helping others, for showing love, and for being a blessing to those in need.”