“The facts of your financial situation are where you want to redirect your brain, because this is where you're going to find your power with your money.”
In today's episode, I'll discuss managing your finances when you feel financially strapped. I'll explore the importance of being conscious of your mindset and how your thoughts about money impact your financial decisions. I'll also discuss ways to create positive stories about money and regain control of your finances. Whether in a spending season or not, it's crucial to be intentional about the stories you tell yourself and how they shape your relationship with money.
Key Highlights
[00:00:00] Holistic Money Podcast intro
[00:00:58] Introduction to today’s topic: What to do when money feels tight
[00:03:31] What to do when money feels tight:
[00:05:12] Step #1: Recognize the story vs. the facts
[00:07:04] Step #2: Examine your reasons
[00:10:44] Recap of the first two steps
[00:12:00] Step #3: Consider if you like the reasons you spend money
[00:14:08] Holistic Money Podcast outro
Notable Quotes
- It's so vital for us to be conscious about the stories that we are telling ourselves when we know we're in a season where we're actually spending more money than we're used to because what can happen when you're consistently telling yourself that story is that you start to get in an emotional state with the money that doesn't serve you in your financial journey.
- If you want to access your financial empowerment and regain your control over money, the process is to get clear on your facts. Really start to look; what is happening with your money?
- The facts of your financial situation are where you want to redirect your brain because this is where you will find your power with your money.
- Feeling like money is tight is the most empowered state that you can be with your money simply because it puts you in the driver's seat, it gives you a choice, it gives you autonomy, it gives you a path versus feeling like you're on your heels and feeling like you're helpless.
- This process of approaching your money more neutrally is the process that gives you so much more power in control of your numbers.
- The idea that your money just comes in, or money is just leaking out of your bank accounts, and you don't know where your money is going, are all stories that keep you out of responsibility and empowerment with your money. Really looking at your numbers, understanding what's coming in and what's going out, and why is where you will find your financial power.
- Remember, you always have a choice with your money, and until you can see your choices, you will continue to fall victim to the mindset that you're stuck with and that this is your financial reality. There's no way this will change, it's just happening, and you are just responding.
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