(#288) Raise your money thermostat & stop overspending for good
Jan 8, 2024
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This podcast explores the concept of raising your financial thermostat and offers insights into managing money effectively. The speaker discusses the influence of upbringing, experiences, and beliefs on our financial behavior. They emphasize the need to shift and maintain the money thermostat, while also providing tips on reducing expenses, choosing meaningful experiences, and setting financial goals.
Understanding and shifting our financial thermostat is crucial for achieving higher levels of financial success.
Aligning financial habits with desired financial goals and making incremental adjustments can help maintain a healthy financial thermostat.
Deep dives
Raising Your Financial Thermostat
The podcast episode discusses the concept of raising your financial thermostat and explores how our beliefs and behaviors around money can impact our financial reality. The speaker emphasizes the importance of understanding and shifting our financial thermostat to achieve higher levels of financial success. They provide practical steps for raising the financial thermostat, including getting clear on your desired financial reality, asking deep questions to uncover limiting beliefs, making incremental aligned shifts, and maintaining the new thermostat until it becomes a set point. Additionally, the episode introduces a powerful question, 'Would I be glad to have bought it a year from now?', that can help in making conscious purchasing decisions and reduce overspending.
Aligning Financial Habits
The podcast episode highlights the significance of aligning financial habits with desired financial goals. The speaker shares personal experiences and examples to illustrate how aligning spending, saving, and investing behaviors can help in maintaining a healthy financial thermostat. They emphasize the importance of making incremental adjustments and being conscious of the impact of each financial decision. The episode encourages listeners to examine their current financial habits and evaluate whether they are aligned with their long-term financial aspirations.
Understanding Financial Set Point
The podcast episode delves into the concept of a financial set point and its impact on financial outcomes. The speaker explains how our subconscious beliefs and patterns influence our financial set point, which determines our comfort level with earning, spending, and saving money. They discuss the process of raising the financial set point by taking conscious action and making gradual shifts in financial behaviors. The episode emphasizes the need for patience and consistency in order to create lasting changes and achieve higher levels of financial success.
Making Conscious Financial Decisions
The podcast episode highlights the importance of making conscious financial decisions by considering long-term satisfaction and alignment. The speaker shares their personal approach of asking the question 'Would I be glad to have bought it a year from now?' before making a purchase. This strategy helps in evaluating the value and relevance of a purchase, reducing impulsive spending, and avoiding accumulating unnecessary items. The episode encourages listeners to be mindful of how their financial choices impact their overall well-being and future financial goals.
If you find yourself giving in to the compulsion to spend any time you have money, (which is a subconscious thing by the way) then there’s a good chance you’re operating OUTSIDE of your financial thermostat.
Wondering what a “financial thermostat” is and what the heck it has to do with actually KEEPING the money you manifest?
Well babe, you’re in the right place ;)
Tune into this episode for a deep dive into what your financial thermostat is, how to raise it, and the ONE question you can ask yourself before circulating your money that will make a massive difference in whether or not you “overspend” for good!
