3 Personal Finance Lessons That Changed My Life

When you see someone who is financially well off, is your first instinct that she or he got there seamlessly? I sure used to.

I wish I could tell you that my money journey has been nothing but smart decisions, steady growth, and easy wins. The thing is, and stop me if you’ve heard this already – I had it ALL once. And then I lost it.

No kidding.

I had the big house, the cars, the trappings of “success.” On paper, I looked like a guy who had it figured out. But the reality behind closed doors was brutal: I had been an angel investor, and it went south. Like, real south. Then came the mounting debt, unpaid bills hidden in drawers, and a pit in my stomach that wouldn’t go away. Eventually, it all came crashing down.

I lost my money. I lost my confidence. I nearly lost myself.

When the numbers crumble, so do you

Money is never just about dollars. When your finances collapse, your mental health collapses right alongside it.

I remember lying in bed, staring at the ceiling, unable to move. Depression hit me like a freight train. I felt worthless, like I had failed not just in business, but in life. My wife and kids were there for me, but I couldn’t shake the shame. Every time I looked at them, all I saw was the provider I wasn’t.

Money problems seep into everything. Your relationships get strained. Your health takes a hit. You isolate yourself because you don’t want anyone to know how bad it’s gotten. And the cruelest part? You feel like the harder you work, the deeper you sink.

The breaking point

My lowest point occurred at Valentine’s dinner when my daughter, who was little at the time, offered up her piggy bank to keep us all afloat.

That was the day I realized I couldn’t work my way out of this hole by sheer willpower. I needed a new system. Not just for my finances, but for how I thought about money.

The first big shift: Profit First

That’s when I built the Profit First system. It was born from desperation; an idea so simple I thought it might be dumb: take profit first, and run the business on what’s left. It flipped the traditional accounting model on its head, and it saved me.

Profit First gave me my footing back in business. It created boundaries, structure, and accountability where before there had been chaos. For the first time, I wasn’t scrambling to cover expenses; I was building reserves. And with that structure came a little breathing room.

“Ok, Mike – what about your personal finances?”, I’m sure you’re wondering. 

Yeah, about those. I hadn’t really fixed that. It was easier, less personal, somehow, to focus on shoring up my business. That’s what Profit First did –  solved my business finances. But that solved nothing at home.

The deeper problem

Even when my business finances stabilized, my personal habits continued to pull me back toward the edge. I’d overextend, overspend, or simply ignore the warning signs. I wasn’t just making financial mistakes; I was living with financial dysfunction.

This wasn’t about systems alone. It was about habits. About mindset.

I needed to rewire my thinking about money in my day-to-day life. To stop seeing it as something “over there” that I’d eventually get around to, and start treating it as the foundation for my freedom, my family, and my peace of mind.

Building The Money Habit

All of this to say, I decided to write The Money Habit to guide you through making money management a daily practice that feels natural, automatic, and even empowering.

I took the principles that saved my businesses and translated them into personal finance. Just like Profit First makes profit unavoidable in your business, The Money Habit makes financial progress unavoidable in your life.

And here’s the truth: habits beat willpower every time. You don’t need to “try harder.” You need systems that shape your behavior automatically, so you can build wealth without white-knuckling it.

The mindset shifts that saved me

Here are three shifts that changed everything for me:

From shame to curiosity. Instead of hiding from my financial mistakes, I started asking what they could teach me. Each misstep became data, not identity. From hustle to habits. I used to think freedom would come from one big win. It doesn’t. It comes from small, consistent actions; paying down debt piece by piece, saving a little at a time, building habits that compound. From isolation to systems. I stopped carrying the burden in silence. Systems gave me structure, but accountability gave me strength. I started involving my family, my team, and eventually, the readers of my books. 

Why this matters for you

If you’ve ever felt the shame of debt, the anxiety of not knowing how you’ll cover the next bill, or the depression that comes with financial collapse, I get it. I’ve been there. And I can tell you this: there’s a way out.

It doesn’t start with a windfall or a lucky break. It starts with simple, repeatable habits that build momentum, just like Profit First did for my businesses.

That’s the heartbeat of The Money Habit. It’s not about perfection. It’s about creating small wins, making them visible, and stacking them until you realize…you’re free.

The bottom line

I wrote The Money Habit because I know the crushing weight of financial chaos. I know the toll it takes on your mind, your health, and your family. And I also know the freedom that comes when you build systems and habits that actually work.

This book is my playbook for your freedom. My hope is that it helps you avoid the mistakes I made and gives you a way to build not just wealth, but peace.

Money isn’t everything. But when you are struggling with it, you realize how much it touches everything. And when you gain control of it, you realize you can finally live the life you were meant for.

– Mike

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