Ep. #84: Developing A Money Mindset While Coming Out Late, Part 1

In this episode of the Coming Out Late podcast Robin has a casual but critical conversation with another late bloomer, Sabrina, about the importance of developing a money mindset in our lives - especially before, during and after our coming out late journeys. Together Robin and Sabrina broach the “Money Mindset” subject from their own beginner’s knowledge and personal experiences, and not from any kind of ‘expert’ stance. Whether you are in a contractual relationship, a marriage, partnered or non-partnered, it is critical that we late bloomers have a sense of money matters, know our financial rights and have a better understanding of our financial position in our world.

In this episode you will learn about and hear Robin and Sabrina discuss… 

• What is a “money mindset”? How do you develop a mindset around money? How does having a ‘money mindset’ affect you and your future?
• Have you ever thought about your relationship with money and what your journey with money has been throughout your life? How did your relationship with money first get formed? How do you feel about money, and handling money? How does ‘money’ make you feel? Do you think you are capable of handling money?
• Currently, what is your mindset around money? How is your relationship with money?
• Having a “money mindset” begins with, “...starting to notice the invisible scripts going on in your head, [surrounding money], and the automatic reactions you have in your body, [as it relates to money matters.] 
• Stop and think about: What do you tell yourself about money and your abilities around handling money? Do you tell yourself, “...I'm bad with money..”, or, “...I'm a right-brained person, I wasn’t born to be good with money…” Or do you tell yourself, “... money is the root of all evil…”? Do you tell yourself, “...money doesn't grow on trees…”? Or, are you in a more positive frame-of-mind about money?
• To develop a healthy money mindset, we must first go through these three steps: First, we must become aware-of, and bring awareness-to our own beliefs around money. In order to understand our own psychology, beliefs and personal relationship with money, we must first become aware of the dialogues and scripts swirling around in our own minds. What are we telling ourselves about money?
• Second, after the “awareness” step, we must then ask ourselves, “...Where do my beliefs around money come from…?” For example: How did your parents talk about money? Did your primary caretakers talk to you about saving or investing? How did your primary caretakers talk to each other about money? Did your mom pay the bills or did your dad take care of everything? Were your parents spenders or savers?
• Once you’ve developed an awareness-of your money belief system and explored where your money beliefs come from, then lastly, it’s time to ask yourself, “...are those beliefs still serving me in living my best life…?”
• Improving your money mindset and becoming proactive about your awareness and understanding of money matters can incrementally impact your future financial security.
• Wanna support our “Coming Out Late” podcast? Then please consider buying Robin a “virtual” coffee as a sign of your appreciation. Simply go to: https://www.buymeacoffee.com/RobinDouglass

Links to resources:

PRIVATE ONE-on-ONE COACHING w/ROBIN DOUGLASS

If you are struggling to make sense-of and MANAGE this new aspect of your COMING OUT LATE life - AND the people IN your life affected by your COMING OUT LA