420. Money Zen – Break out of the cult of never enough
Oct 2, 2023
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Manisha Thakor, finance maestro with over 30 years in financial services, discusses her latest book 'Money Zen' and delves into topics like workaholism vs work engagement, breaking free from the 'never enough' mindset, finding joy in spending, and living by your values for balance and happiness.
Redefine self-worth and prioritize emotional wealth over material achievements for true fulfillment.
Align spending habits with personal values through joy-based spending to create a more fulfilling approach to finances.
Deep dives
The importance of finding your enough
In this podcast episode, Manisha Thacker discusses her journey towards finding her enough. She shares how she realized that her workaholic tendencies were driven by societal pressure and personal traumas. Manisha emphasizes the need to redefine what brings joy and fulfillment in life, rather than chasing external validation or financial success. She introduces the concept of joy-based spending, which involves conducting a joy audit, using the hourly wage tool, and practicing the power of the pause. Manisha encourages listeners to prioritize connection and the pursuit of emotional wealth as a path towards true fulfillment.
Understanding the influences on our beliefs and values
Manisha explores the various influences that shape our beliefs and values around money and success. She highlights the impact of personal traumas, cultural norms, societal influences, and evolutionary biology on our behaviors and decision-making. Manisha encourages individuals to uncover these influences and understand how they may have shaped their relationship with money and their definition of success. By doing so, she suggests that individuals can align their actions and choices with their true values and find greater fulfillment.
The trap of the cult of never enough
Manisha discusses the societal pressure to constantly strive for more and the trap of the cult of never enough. She acknowledges that high achievers, driven by a sense of competition and comparison, often fall into the belief that their self-worth is tied to their net worth. Manisha shares her personal experience of constantly chasing financial success and recognition, only to realize that it left her emotionally bankrupt. She encourages individuals to redefine their equations of self-worth and prioritize emotional wealth over material achievements.
The power of joy-based spending
Manisha introduces the concept of joy-based spending as a way to align spending habits with personal values and increase overall happiness. She outlines three steps: conducting a joy audit to identify expenses that bring joy, using the hourly wage tool to assess the value of purchases in terms of life energy, and practicing the power of the pause to reduce impulse buying. By consciously spending on things that truly bring joy and align with personal values, individuals can create a more fulfilling and balanced approach to their finances.
Are you seeking empowerment in your economic journey, especially as a woman navigating through the financial world?
We're overjoyed to host the phenomenal Manisha Thakor, a finance maestro with over 30 years in financial services, focusing on women's economic empowerment and financial well-being. Manisha is a beacon in this sphere, featuring in eminent publications such as the Wall Street Journal, New York Times, NPR, PBS, CNN, CNBC, Real Simple, and Women's Health. She’s not just an author of several finance books tailored for women in their 20s and 30s but also here today to unravel her latest masterpiece, "Money Zen."
Manisha opens her heart about the motivation behind "Money Zen," narrating her personal journey of self-realization and transformation, sparked by an illness that made her reflect on her life’s purpose. If you’ve ever felt like you were caught in the endless cycle of ‘doing’ and yearn for a deeper connection with your ‘being,’ this conversation with Manisha Thakor is your gateway to finding that balance.
Craving more insights on financial wellbeing and empowerment? Visit the1thing.com to delve deeper into mastering your economic journey with purpose.
To learn more, and for the complete show notes, visit: the1thing.com/pods.
We talk about:
Identifying the difference between workaholism and work engagement
Pushing back against the cult of “never enough”
Defining financial and emotional health
Uncovering the fictional financial lifestyles being portrayed