#544: Remember that time you found a $20 bill in an old jacket pocket? The rush of excitement, followed by the quick mental math of what you could buy with it?
That's your money mindset at work.
In this episode, we dive deep into the psychology behind our financial decisions.
You'll hear about the three money mindsets: anxious, obsessed, and avoidant. Ever clutched onto every penny out of fear? That's the anxious mindset. Spent big to impress others? Money obsession. Ever thought "I'd rather be happy than rich" or felt uncomfortable talking about money? These could be signs of a money-avoidant mindset.
The episode shares a personal journey from being terrified of running out of money to developing a healthier relationship with finances. It's not just about saving or spending - it's about using money as a tool to express your values.
You'll learn why being "good with money" isn't as simple as “just don’t spend it!” Think about Ebenezer Scrooge - he had plenty of cash but lived like a pauper. Is that really good money management?
On the other end of the extreme, you have Montgomery Burns from The Simpsons as another example. He's loaded but obsessed with getting even richer, showing how the endless pursuit of wealth can leave you lonely and isolated.
The talk covers how your beliefs about money can become self-fulfilling prophecies. If you think you're bad with money, you might make poor financial decisions without realizing it.
You'll hear about the balance between time and money. Both are limited resources, and sometimes it's smart to spend money to buy back your time. After all, you can always make more money, but you can't make more time.
This episode tackles the myth that work is always a drag. It suggests finding work that gives you a sense of purpose can lead to both job satisfaction and financial success.
Investing comes up too. You'll learn why it's often simpler than the financial industry wants you to believe. Sometimes, doing less with your investments can lead to better results.
We wrap up by talking about imposter syndrome - that feeling that you don't deserve your financial success. If you've ever felt like a fraud because your bank account looks better than it used to, you're not alone.
Throughout the episode, you'll get insights into how your past experiences shape your current money habits. By the end, you'll have tools to start examining your own money mindset and working towards a healthier relationship with your finances.
For more information, visit the show notes at https://affordanything.com/episode544
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Afford Anything