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Jay Shetty PodcastJay Shetty Podcast

The Money Expert: #1 Formula to Get RICH Off Your Normal Salary (It’s EASY!)

How do you track your spending? What’s the easiest way for you to save money? Today, Jay welcomes back Codie Sanchez, entrepreneur, investor, and founder of Contrarian Thinking, to share the mindset shifts needed to thrive financially in today’s world. Codie explains why renting can sometimes be the smarter move, how to negotiate with confidence, and why mastering the language of money, from credit scores to strategic debt, is essential before you can build real wealth. Together, Jay and Codie debunk the myths of financial literacy, showing that clarity and confidence matter far more than complicated strategies. This conversation takes an honest look at what it really takes to make money in a tough economy, whether that’s launching a side hustle without quitting your job or spotting opportunities that others overlook when markets are down. Codie highlights that building wealth isn’t about chasing trends or quick wins, but about making disciplined decisions, managing risk with intention, and turning problems into possibilities. Together, Jay and Codie also discuss how to grow within your career by understanding your true value, negotiating with confidence, and recognizing that profit and purpose don’t have to compete, they can align in practical, meaningful ways. In this interview, you'll learn: How to Negotiate Your Rent and Save More How to Use Credit the Right Way to Build Wealth How to Start a Business With Little to No Money How to Keep Your Job and Still Grow a Side Hustle How to Turn Problems Into Profitable Opportunities How to Talk About Money in Relationships How to Invest Your First $1,000 Wisely Growth doesn’t come from getting everything right, it comes from learning, experimenting, and treating challenges as opportunities. With curiosity and courage, even problems can become stepping stones forward. With Love and Gratitude, Jay Shetty What We Discuss: 00:00 Intro 02:03 The Best Time to Build Wealth 05:26 Should People Own Homes Anymore? 06:21 Are You Financially Literate? 08:48 Simple Steps to Financial Freedom 12:54 How Much Money Do You Really Need to Start a Business? 15:57 The Three Qualities of a Great CEO 18:05 How to Increase Your Value as an Employee 21:01 The Path to Growth Inside a Company 25:05 The Truth About Hustle Culture 27:29 Passive Income: Real or Myth? 28:48 Why You Shouldn’t Turn Every Passion Into Profit 31:30 What Sets Top Performers Apart 35:10 The Fixer vs. The Freeloader Mindset 38:50 How to Choose the Right Leader to Learn From 40:42 The Power of Surrounding Yourself With the Right People 44:00 Setting Expectations That Lead to Success 48:52 The Lipstick Theory of Recessions 52:01 The Link Between Money and Dating 55:22 How to See Money as a Tool, Not a Goal 59:31 Who Should Really Pay on the First Date? 01:04:15 Understanding Negative Feminine Energy 01:07:49 Why Discussing a Prenup Can Strengthen Relationships 01:11:10 What Makes a Strong and Lasting Partnership 01:14:26 Should You Get Into Business With Your Partner? 01:18:52 What Makes a Deal Truly Great 01:22:52 Why Investing in Yourself Comes First 01:25:06 Investing 101: The Basics You Need to Know 01:26:44 Stocks vs. Bonds: What’s the Difference? 01:27:46 The Next Level of Investing Explained 01:30:39 The #1 Thing People Waste Money On Episode Resources: https://codiesanchez.com/ https://www.youtube.com/@CodieSanchezCT https://www.instagram.com/codiesanchez https://www.facebook.com/codiesanchezbiz/ https://www.tiktok.com/@realcodiesanchez https://www.linkedin.com/in/codiesanchez/ https://contrarianthinking.co/ https://www.instagram.com/jayshetty https://www.facebook.com/jayshetty/ https://x.com/jayshetty https://www.linkedin.com/in/shettyjay/ https://www.youtube.com/@JayShettyPodcast http://jayshetty.me

Codie SanchezguestJay Shettyhost
Sep 7, 20251h 35mWatch on YouTube ↗

At a glance

WHAT IT’S REALLY ABOUT

Codie Sanchez explains wealth-building rules for salaries, business, investing, relationships.

  1. Building wealth is easier when you treat money like a learnable language—starting with fundamentals like credit, debt, and financial literacy.
  2. Down markets can be the best wealth-building windows because assets go “on sale,” but only if you have cash/credit access and the discipline to act.
  3. Most people don’t need to quit their jobs to start a business; keeping income while building a side venture improves decision-making and raises startup success odds.
  4. Career income increases fastest when employees quantify the dollars they produce for the company and negotiate pay from profit impact, not effort or hours.
  5. Money and relationships are intertwined: partner choice affects financial outcomes, expectations need to be discussed early (including prenups), and “looking rich” is a major wealth killer.

IDEAS WORTH REMEMBERING

5 ideas

Treat money like a language—fluency precedes earning more.

Sanchez argues many people cap out at budgeting basics; understanding credit, debt, inflation, and investing mechanics expands access to opportunities and better decisions.

In tough markets, look for discounts instead of doom.

Using Buffett/Rothschild-style thinking, she claims real wealth is often built when fear is high and assets are repriced—if you’re prepared to buy thoughtfully.

Homeownership isn’t automatically the “adult” financial move anymore.

She cites wage stagnation vs. housing inflation and says buying a home as an investment can be mathematically unattractive today; negotiating rent can be a smarter play in some markets.

Credit cards can be safer and more wealth-building than debit cards—if paid monthly.

Her rule: credit cards are only “bad” when you carry balances; debit cards don’t build credit, offer fewer protections, and miss rewards while exposing your cash to fraud risk.

Most people don’t lack money—they lack knowledge of how to access money.

She points to grants/loans (e.g., SBA programs) and investors seeking capable operators; the mindset shift is recognizing capital exists for good deals and competent execution.

WORDS WORTH SAVING

5 quotes

If you don't understand money, you're never gonna make more of it because understanding money is like speaking a language.

— Codie Sanchez

I think that owning a home as an investment right now today is mathematically not a smart decision. For the first time in my lifetime, the numbers say that homes today... The math just isn't mathing.

— Codie Sanchez

I think you never suffer from a lack of money. You suffer from a lack of knowledge on how to get money.

— Codie Sanchez

There's a hustle culture that happens about hard work will equal wealth, and that is actually not true at all.

— Codie Sanchez

Every time I find a problem in my business, that's where the profit is. Every time I have a problem in my life, that's where the money is.

— Codie Sanchez

Buying opportunities in fearful marketsRenting vs. buying a home todayCredit cards vs. debit cards and credit buildingGood debt vs. bad debt and leverageSide hustles while employed (de-risking startups)Employee value, negotiation, and career laddersHustle culture, AI, and standing outPassive income myths and “love the game” mindsetFixer vs. freeloader mentalitySocial circles and financial contagionMoney in dating (who pays, income expectations)Prenups and hard conversationsInvesting ladder: self → index funds → private markets → ownershipStocks vs. bonds and diversificationSpending traps: “looking rich” online

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