In this episode, I dive into the critical difference between explanations and excuses when it comes to our financial situations. I explore how identifying this difference can transform our money mindset, help us take meaningful action, and prevent future regrets. By learning to shift from excuse-making to explanation-seeking, we can break through psychological barriers and create genuine financial progress.
Episode Highlights:
- Explanations vs. Excuses: I break down how explanations clarify with facts and context, while excuses shift responsibility and provide psychological comfort that ultimately holds us back.
- The Self-Employment Example: I share my personal tendency to use "I'm self-employed, so it's harder" as an excuse, and how transforming this into an explanation creates actionable pathways forward.
- Four Questions to Identify Excuses: I provide a framework to determine if you're making excuses or giving explanations, including asking if it's specific, if there's a way forward, if you'll stand by it in five years, and if there's anything you're not telling yourself.
- The Future Self Perspective: I discuss how our future selves will thank us for turning excuses into explanations that we can act upon, rather than letting opportunities pass us by.
- Life's Regrets: I reference Bronnie Ware's "Top Five Regrets of the Dying" to highlight how excuse-making can lead to unfulfilled dreams and missed opportunities for meaningful connections.
What you will learn:
- How to differentiate between legitimate explanations and limiting excuses in your financial life
- Practical techniques to transform your excuses into explanations that enable action
- Why psychological comfort from excuses can lead to long-term regret
- How to balance accepting real financial challenges while still moving forward
Where to find The Broke Generation
Website: https://thebrokegeneration.com/?v=518f4a738816
Instagram: https://instagram.com/the.brokegeneration
TikTok: @the.brokegeneration
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