Is Your Brain Blocking Your Financial Goals? (with Jessica Moorhouse) SB1636
Jan 27, 2025
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Join Jessica Moorhouse, a financial counselor and author of "Everything But Money," as she dives into the emotional landscape of personal finance. She shares her journey through therapy, revealing how our relationships shape money habits and the impact of self-talk on financial decisions. Learn about the clever 'no-buy' list that helped one woman eliminate $34,000 in debt, and discover the power of gamifying financial goals to make saving fun. This engaging conversation offers valuable insights for anyone looking to improve their money mindset.
Understanding the impact of mental blocks and emotional triggers is crucial for overcoming obstacles to financial success.
Recognizing and reframing negative self-talk can significantly improve one's money mindset and foster healthier financial habits.
Cultivating positive financial relationships and being mindful of the social influences can enhance accountability and support in achieving financial goals.
Deep dives
Navy Federal Credit Union's Role in Debt Management
Navy Federal Credit Union offers essential resources to tackle debt effectively, acknowledging the stress it can cause. They provide financial tools designed to help members create actionable debt reduction plans. Currently, members can take advantage of a limited-time offer of 0% introductory APR on credit card balance transfers for 12 months. This offer is aimed at reducing the financial burden and helping individuals regain control over their finances through strategic management.
The Importance of Mindset in Financial Health
The discussion highlights that financial well-being often transcends mere numbers, delving into the underlying psychological aspects. Participants explore how mental states influence financial decision-making, emphasizing that underlying beliefs and emotional triggers can significantly impact financial outcomes. They suggest that addressing one’s money mindset can aid in overcoming barriers to achieving financial goals. Understanding these mental blocks is proposed as an essential step towards fostering healthier financial habits.
Narratives Around Money and Self-Perception
The podcast addresses the negative self-talk that often shapes individuals' relationships with money, leading to cycles of guilt and shame. Participants share personal experiences and reflections on how societal expectations can distort self-worth tied to financial stability. They advocate for recognizing these narratives and consciously reframing thoughts to foster a more positive monetary mindset. By acknowledging and confronting these deeply rooted beliefs, individuals can progress towards financial freedom without being hindered by shame or guilt.
The Connection Between Spending and Emotional Well-Being
The conversation underscores the correlation between spending habits and emotional fulfillment, emphasizing that many individuals use spending as a coping mechanism. The guests reveal that recognizing spending triggers can lead to healthier financial habits and emotional regulation. They discuss the importance of distinguishing between wants and needs to mitigate impulsive spending driven by emotional distress. This awareness can lead to more intentional financial choices and ultimately enhance overall well-being.
Building Healthy Relationships with Money
Listeners are encouraged to cultivate healthy financial relationships by surrounding themselves with supportive influences. The dialogue promotes introspection about one's social circle and how it can affect financial behaviors and attitudes. It suggests being selective about relationships and distancing oneself from negative influences that exacerbate financial stress. Establishing a positive environment fosters collaboration and accountability, making it easier to pursue financial goals and celebrate successes.
What’s really standing between you and your financial goals? In today’s mentor, Jessica Moorhouse—financial counselor, podcast host, and author of Everything But Money—joins Joe to dive into the mental and emotional side of managing money. Jessica shares her journey with therapy, how relationships shape our financial habits, and the role of self-talk in creating a healthier money mindset. Whether you’re feeling stuck or just want a fresh perspective, this interview offers practical tools to help you take control of your financial future.
In our headline segment, we explore the concept of a “no-buy” list—a clever strategy one woman used to pay off $34,000 in debt. Learn how gamifying financial goals can make saving more manageable—and even fun! Whether it’s cutting back on unnecessary spending or finding creative ways to save, this segment will inspire you to rethink how you approach your financial challenges.
Here’s what we cover today:
Saluting our troops—and wondering why Doug still doesn’t have a Navy Federal mug
Meet Jessica Moorhouse: Financial counselor, podcast host, and author of Everything But Money
Unlocking the connection between your money mindset and financial success with Jessica
How Jessica’s personal journey and therapy shaped her healthier money mindset
Unpacking how emotions and relationships impact financial habits
Understanding rational vs. irrational guilt—and how it affects your money decisions
Recognizing irrational guilt and why it’s critical to tackle it
Celebrating financial wins and overcoming the fear that holds you back
Jessica’s book Everything But Money—and why it’s a must-read for anyone improving their financial mindset
Sneak peek: What’s next on the More Money Podcast with Jessica Moorhouse
Doug’s historical trivia: Financial lessons from the past
Gamifying financial goals: Make saving and investing fun and rewarding
Real-life success stories: The No Buy Challenge and how it helped pay off $34,000 in debt
Join our community: Upcoming meetups and ways to get involved
Final thoughts and takeaways: Simple actions you can start today to improve your financial mindset