How to Audit Your Lifestyle to Build Not Destroy with Chase Maher — Script

This is a Full Episode transcription from Episode 32 of Life Worth Chasing, you’ll find the timestamps next to the speaker.

You can find show notes: https://medium.com/p/1c2a55770869

Chase Maher: (00:00)

Ladies and gentlemen, what is up? It’s been a couple days since he heard my voice or maybe you just cranked out a bunch of episodes in a row, but it’s been a couple of days since we dropped one. As you know, every Tuesday we drop an interview. Every Thursday we drop me just chatting and myself and today is no different. I got a pretty cool episode planned out for you all today and first before we get into that, I just want to thank all our new listeners. We got a ton of new listeners. We got an episode recently that went sort of mini viral on Twitter and so if you’re a new listener, welcome to the show. This is life worth chasing. I’m your host, chase Moher and we talk about real estate, money, wealth, personal finance, high level business strategies so that you can work less and make more and keep more because that’s what’s really important, right?

Chase Maher: (00:53)

So welcome to the show if you want to support it. Maybe you liked a couple of recent episodes, hit that subscribe button so that you can get more. Also, scroll down to the bottom. Apple hit that five star review button. Write me a short couple sentences. I read them all something. Now that we’re at a hundred plus five star reviews, I’m going to start doing a little fan of the week segment and shouting out some recent reviews. So if you want to be one of those, drop me review. I appreciate it. You know, Apple and Spotify, they got this little algorithm thing going on and so you know, subscribers, listeners, reviews. I’m sure you’ve heard it a lot, but the reason why we all say is cause it’s important. So thank you. I appreciate the love and support. All right. For today’s show, guess what? I’m going to talk about something that has had a major impact on my life, on my success, on where I’m headed, so that you can sort of learn from me.

Chase Maher: (01:50)

Or if you’re already in the middle of this kind of stuff, you can make it even better. Now, the time of the year that we’re at, or in the end of Q four quarter four 2019 can you believe that in less than a month, the decade is over. So no better time than now to do what I call a lifestyle audit. You know when you’re not paying your taxes, the IRS audits you and they go through all your records and they make you pay up. This is no different. I’m about to show you how we can audit your lifestyle so that rolling into 2020 and beyond, you can kick it up a notch and make your whole world better. Now what’s funny is all my mentors that I’ve had, I haven’t had that many. I make it seem like I’ve had a ton. The mentors that I’ve had, the high level business people that I’ve been around and just people that I’ve learned from in general always take Q4 to do business planning.

Chase Maher: (02:52)

Let’s do some business planning, let’s plan our rental portfolios, let’s plan our business strategies. And that is great. Trust me, I do that. I think it’s very important, but I never hear anybody ever talking about lifestyle planning and auditing their lifestyle. And I think that is just as if not more important. You’re probably thinking right now, like Holy shit, I never really thought about that cause I didn’t think about it for 28 years and it wasn’t until a year ago that I really thought this was important. So if you’ve listened to some of the past episodes, you know that when I was 28 Roland and a 29 around Christmas time I had this crazy lifestyle audit and it changed. It changed like everything moving forward for me, who I was spending time with, what I was spending my money on, the direction I was going, where I was taking my business.

Chase Maher: (03:45)

And I had built several, multiple six figure businesses, hadn’t quite built a seven figure business yet and really didn’t know where I wanted to take things other than I knew I wanted to just be rich, you know. So I had this lifestyle audit and that’s when I thought to myself, dude, what am I doing man? I want to build generational wealth so that my kids, kids, kids look at me on the wall, that little family photo on the wall with all the generations and they circle my name and they say this was the dude that changed it all for our bloodline. That’s my big why. And I discovered that through a lifestyle audit. So these lifestyle audits, now I’m no professional at them. I’ve only done them twice. I just completed my second one. So I’m going to share with you how I did it and how you can do it.

Chase Maher: (04:32)

So trust me, I’m no expert. But what I’m saying here is with these lifestyle audits, what I found on the first one is I started like sweating a ton. I was like sweating profusely. I was like, Holy shit, I’ve made so many mistakes, but I don’t want you to like think about all the negative things. Think about it positively. Think about the person to the right and to the left and forward. And behind you, they’re probably not doing this. And the secret is, is they’ve made just as many mistakes as you. So don’t get down on yourself. Think positive that you’re making a difference and you’re changing the direction of your life forever from this point forward, from this lifestyle audit forward. This is going to be sort of your report card. All right? This is sort of like when the IRS audits you, they’d go through all your shit.

Chase Maher: (05:19)

It’s time for you to go through your shit. You ready to go through your shit? Cause we’re going to go through it together. I’m actually not going to go through your shit, but you’re going to go through how I do it and you’re going to go through your shit. All right, cool. So mistake number one, don’t get too down on yourself. Don’t think of all the mistakes. Just write them down and what you learned from them, but don’t dwell on them. Don’t go into like some depression crazy, you know, sleeping in bed for two, three days straight, 30 days straight. Don’t do any of that. Okay? This is where you can audit your lifestyle and changed the game moving forward and move past it quickly. Okay. So first I cannot go any further without giving credit where credit is due. There are three people that it had a major impact on the process of lifestyle auditing.

Chase Maher: (06:10)

Number one, the person that I was watching speak at 10 X growth con with grant Cardone a couple of years ago in Vegas. I was there with some homeys, we were chilling, I was around a bunch of a players really enjoy in life and I saw this speech by Grant’s wife, Elena Cardone, who if you don’t follow her, that is one bad ass woman. Follow her. Trust me. So she was talking about the concept, I want you to listen close here. She was talking about the concept of you are always either destroying or building. And I was like, huh? I started thinking about that. You are always either destroying or building. What does that mean? Well basically what that means is everything in your life, you’re either going forwards or backwards. And I was like, well what about when you’re just like chilling, watching Netflix and you’re kind of in the middle?

Chase Maher: (07:04)

And she just answered it. I didn’t ask her, but she’s just answered. Everybody’s thought, well, you’re destroying at that point. It’s okay to destroy a little bit. Everybody’s got to like tread water a little bit. All right. But the important thing is to be building the, improving so much more than you’re destroying and everything when you’re not improving and you’re not building is a element of destroying. So this lifestyle audit is all about minimizing the destruction so that we have more energy for the building. So I took that and I took that concept and it was around Christmas time, I was with my girlfriend and Canada and her father is a super successful businessman and he’s, he built his company in a way where he never seemed stressed out. I’m sure he is though. He’s got so many employees where the business runs itself without him.

Chase Maher: (07:55)

And he’s just the kind of man that I really look up to. He’s the kind of man that, you know, if I can treat my family and my kids and my business when I’m his age, I’ll be a happy man. So I wanted to create this sort of lifestyle audit where I filter it through like what would he think about it, how would he spend his time? So I got the destroying and the building concept. I got my girlfriend’s father and and his whole sort of lifestyle and how he’s built it and he seems like such a happy man. Very successful man. And then there was one more element. How do I filter this? How do I filter this lifestyle audit? So I have like a checklist. You guys like checklists. I’m about to give you a checklist. I didn’t invent this checklist though. I got this from my homie, bad-ass luxury real estate agent and orange County by the name of Kevin start event.

Chase Maher: (08:50)

I’m going to get him on the show eventually so you guys can chat with him. But this dude is a total baller. Talk about an incredible person, incredible family man, incredible father, incredible businessman. And he’s got this concept. No, I don’t think he created this concept, but he certainly has been popularizing it lately and it’s called the seven equities. So this is sorta the checklist that I go by now. Now, I’m not like an inventor, I’m not a copier. I’m what I like to call a modeler. So I’m modeling the destroying or building concept, a modeling my girlfriend’s father and how he does things and a modeling after Kevin’s seven equity. So here’s what the seven equities are and we’re going to go through these one by one. And then when you’re done driving or you’re done on your walk or your run or your workout, or maybe you’re hanging out right now, go ahead and go through these one by one so that you can audit.

Chase Maher: (09:44)

Where are you at? How far have you come? I want to focus on how much have you already improved and where is the area for improvement moving forward. So let’s go through these one by one. Okay, I’m going to say them all out first. The seven equities, mind, body, soul, family, friends, business and money. Okay? You notice how money is last. You notice that money is last because money is not the most important thing in the world. The most important thing you notice the first three things are mind, body, and soul. So there’s this concept that if everybody focused on their own self, on their own mind, on their own body, on their own soul, if they focused on themselves, everything else would be cleaner and easier because we are taking care of ourselves. But in the world today, we have so many people that give such a flying shit about everybody else but themselves and they want to complain about everybody else but themselves.

Chase Maher: (10:48)

They’re moving backwards after mind, body and soul is family. Those who we love closest, our significant other, our immediate family, then his friends. This is probably the largest area besides the mind and body. This is probably the largest area that we need to audit. Then last is business and then after that is managing money. Now I have my own little spin on these. Kevin has his too and I respect his. I have my own little spin, so let’s go ahead and go through those. Okay, so when you’re starting this lifestyle audit, the first thing is your mind. All right, so where have you been going? What have you been doing with your mind? What have you been feeding your mind, filter, all of these through destroying or building? Have you been feeding it with items of destruction or have you been feeding with items of improvement?

Chase Maher: (11:34)

All right, so how much are you watching Netflix? How much are you watching Hulu or YouTube versus how much are you listening to a good podcast or how much are you listening to an audio book or how much are you reading? So one of the things that I made a standard in my day, cause I love to watch some Netflix, a standard in my day is I want to read one chapter of a book every single morning and I want to listen to some sort of enlightening podcast every single day. So these are my standards and I feel good enough about that, that I can catch a quick show with my girlfriend at night or catch up on some MMA on YouTube. And so I feel good about that, that I can do a little bit of items of destruction, a little bit of items where I’m treading water because I fed my mind that day.

Chase Maher: (12:19)

Now move on. Let’s talk about body. This is like health. Okay, so with our health, are we destroying our, are we building? So audit your lifestyle. How much are you partying? What kind of food are you eating versus what kind of healthy food? How much water are you drinking? How much exercise are you getting? Are you destroying or are you building? All right, next is soul. This is like your faith or your mental clarity. Now, everybody might have a different set of faith out there, so I’m just going to focus on mental clarity. All right, so for me, this is something I lacked for years and years. I never did any meditating. So now what I really like to do is I like to do hot yoga and I focus while I’m doing hot yoga. Once or twice a week, I focus on meditation and all my breathing and it has helped so much with stress relief.

Chase Maher: (13:04)

So I focus on that as a moment of improving a moment of building that mental clarity, filter it with your own life and what you got going on in. Do you need to add some meditation? Do you need to add some hot yoga in there or just something to help you break away from the noise so that you have that mental clarity? All right, next up, we have family. So with family, everybody’s got a perfect family, right? Funny, right? None of us have perfect families. All right, so how can we be the leader of our family? I focus on being the leader of my family. All right? So I was allowing individuals and family to destroy. I was allowing individuals and family to distract us all from what’s important. And the most important thing is love within our family. The most important thing is support within our family.

Chase Maher: (13:52)

So I’ve taken the responsibility to help everybody in my family build rather than destroy. What does that look like? I’ve put it into my calendar. Literally, it’s in my calendar every single Sunday to make sure I reach out to my family with positivity. Make sure I reach out to my family with enlightenment. All right? And then we have a group thread that we all started where we can communicate and love each other. So these are just little simple things that I wasn’t doing before. All right? And they were always wondering what I was doing or I was wondering what they were doing. And this is one where it’s like, are we destroying a building? I don’t know, but I’ve just taken it upon myself to be the leader of my family, to be the leader that they can look to when they need something. I want to be that person because I want to make sure they’re getting the proper information.

Chase Maher: (14:40)

Next up is friends. Here’s the one where we probably all need to be the most strict. All right? So write down like who were you spending the most time with? Go through your phone. Who are your recent with? Who are your recent calls with your recent FaceTimes with? Who are you spending the most time? What are they doing? Are they destroying or are they building? Now think about what are you doing? Are you destroying? Are you building now? There’s a lot of gurus out there that’ll tell you, cut your friends out of your life, do this, do that. I’m kinda like in between, if somebody is just a total bad Apple dude lady, what are you doing with them? Purge. They’re destroying, not building, but if there’s somebody that could use your help, be that rock for them. Be that support system for them. It’s okay to be more successful than friends.

Chase Maher: (15:28)

It’s okay to be healthier than friends. It’s okay to be more into entrepreneurship than friends. You don’t have to cut them out of your life. You just have to make a judgment call case by case on what that looks like for you. All right, moving on. We got business so you can sort of blend this into your, your business audit. But what I like to do is I focus on my business as is it generating cash or is it costing me cash? I focus on my business of how can I increase that cash with less time in am I trying to do too many businesses at once? So blend this in with your lifestyle audit in respects to how much time are you spending on the business and how much cash is it generating for you? Then focus on is it generating opportunity and cash for others.

Chase Maher: (16:15)

So audit that business with respects to your lifestyle and respects to building or destroying. And if you have businesses that are costing you money and time that are not generating cash and you do have businesses that are generating you cash, then make the obvious decision of cutting your losses and focusing on the ones that are generating cash. Next up is money. So I’ll be coming out with an episode here soon about money tip tips and budgeting strategies, wealth building strategies. But the most important thing here is jumping on an app like meant and using an app like personal capital. I’ll link both of those below. All right? And dialing in your budget, your personal budget with an app like meant where are you spending your money? Are you destroying, are you building your bank account? Are you destroying? Are you building your cashflow? And then using an app like personal capital to focus on your net worth.

Chase Maher: (17:09)

Are you destroying or are you building your net worth? Because we’re all on this path of generational wealth together, right? Yes, we are. So let’s focus. Are we destroying or are we building? What are we doing with our money? How much are we saving versus what our expenses are, what our wants versus our needs? How much are we putting into real estate? How much are we putting into the stock market? How much are we putting into bonds, Bitcoin, whatever you want to invest in. That’s for another episode. [inaudible] and we want to talk about here is are you destroying or are you building? So go through these one by one, spend some time, one by one and drop your feedback. What did you learn from this? Send me a tweet. Jump on Twitter. Send me a DM on Instagram. I want to hear what did you learn from this? What are you going to improve on? How much were you destroying and how much now are you building? All right. I hope this was a good episode for you. I hope that you either learned some new stuff or if you didn’t learn anything new, I refreshed your memory. That now is a better time than ever to do a personal lifestyle audit. Defocus. Am I destroying or am I building and focus on the seven equities of mind, body, soul, family, friends, business, and money? I’m out.