How to Rewire Your Brain to Overcome "Broke Baggage" with Claire Wasserman
Jan 31, 2025
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This episode dives into overcoming financial anxiety, or 'broke baggage,' with practical strategies. Claire Wasserman shares emotional challenges tied to money, emphasizing self-reflection and confronting fears. Listeners learn about the four-step approach to manage emotional triggers and create a healthier money mindset. The power of neuroplasticity is highlighted, showcasing how intentional spending can reshape financial relationships. Claire even takes on her own money challenge, proving that anyone can tackle their financial anxieties.
44:17
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Quick takeaways
Financial anxiety often stems from perceived scarcity and unworthiness, highlighting the need to recognize and manage these underlying emotions.
Employing proactive strategies, like 'designated dwell time' and grounding techniques, can significantly improve one's relationship with financial stressors.
Deep dives
Understanding Financial Anxiety and Broke Baggage
Financial anxiety often stems from how individuals perceive their bank account numbers rather than the numbers themselves. This anxiety, termed 'broke baggage,' includes feelings of never having enough, guilt in asking for more, and the constant struggle of making ends meet. Conceptually, financial anxiety can reflect deeper emotions such as helplessness and unworthiness, which significantly impact one's self-perception and freedom. Recognizing these feelings is a crucial first step toward managing them effectively.
Practical Strategies for Managing Money Triggers
Identifying financial triggers is essential in managing anxiety related to money. By knowing what situations induce stress, individuals can prepare emotionally and logistically to mitigate the fallout. Techniques like 'designated dwell time' allow for controlled emotional reactions while maintaining perspective and composure. Such proactive approaches help create a more manageable relationship with financial stressors.
Engaging the Body for Emotional Relief
Calming the nervous system plays a vital role in alleviating financial anxiety, and a five-finger framework can facilitate this process. This method emphasizes grounding oneself through bodily awareness, acknowledging fears, and taking actionable steps to tackle those fears. Simple practices, like deep breaths or even humming, can effectively shift one from a 'fight or flight' state back to relaxation. Maintaining regular engagement with these strategies enhances awareness, ultimately leading to a more resilient mindset toward financial challenges.
Transforming Spending Habits for Greater Satisfaction
Spending intentionally on experiences, treating oneself, and investing in others can lead to a more fulfilling financial life. By focusing on values and the emotions spending evokes, individuals can make choices that align with their deeper desires rather than defaulting to reactive spending habits. Taking time to reflect on feelings and desired experiences before spending can also transform how money is perceived. Over time, these practices can lead to a healthier relationship with money, emphasizing quality over quantity.
This week, Money Rehab is hosted by Claire Wasserman, the founder and author of Ladies Get Paid, a coaching practice newsletter and podcast dedicated to helping women embrace their worth inside and out.
Today, Claire tells you how to rewire your brain to fight negative thought patterns around money— or, as Claire calls it "broke baggage." In this episode, Claire gives actionable strategies you can use next time you're feeling anxious about money. Claire even demonstrates how to use those strategies on a money challenge in her own life that's making her anxious. If she can do it, you can too.
All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Open to the Public Investing, member FINRA & SIPC. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank.
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