Embracing Your Financial Journey with a Growth Mindset

Episode 39 of the Wealthy After 40 Podcast is about helping our minds have a fresh start.

Gaining clarity with numbers and vision will need our minds in the right space.

Learn how to make that mindset shift from negative to positive as you head toward your financial vision.

• Discover what negative thoughts may be holding us back
• How to restate those thoughts and commit to change 
• Why a money routine is essential
• Steps to take for a mindset journey 

Click HERE for Full Transcript of Episode

Hello and welcome to today's episode. We're talking about how, how we can help our minds have a fresh start, discover what may be holding us back, restatements to help us commit for a change moving forward, and action steps to make that happen. So if today's topic is of interest to you, be sure to join me for my free workshop on Friday, January 26th. 3 p. m. Mountain Time via Zoom. Replays will be sent out. We are covering understanding your financial mindset, clarity with your numbers, setting personal financial goals, values based budgeting, and creating a money routine. All of this information will be found down in the show notes, linked to join, or on my website. I hope you will join us and dive into it deeper, tying all of these last three episodes together. Also, if you are enjoying the podcast, please leave a review so others who are also looking for support on their financial journey can. Join us and learn and grow as well as you are. And many of you are sharing with friends by forwarding episodes, and I greatly appreciate that. That has been so amazing in my little time I've been on here, but I plan to keep serving you and moving forward. All right. So back to today's topic. The last two episodes that also tie into this is the fresh start getting clarity, right? All of those things they have been about numbers and strategies and building a plan. But we need to make sure our head is in the game, that our head is not telling us something different than we have already planned. It's easy to write these plans down. It's easy to say, okay, this is where I'm going. And this is where I've been. These are the changes I need to make, right? We've covered all of that in the last two episodes, but we've got to get our mind to support us on our journey of moving forward and improving. The mind always wants to take us back to what it knows. Take us back to the comfortable. It just is what it does. It keeps us safe. That's how it keeps us safe. Now that's not always good. It's not always the best place we can be, but for the mind, it's saying, Hey, this is safe. You know this. You're not going out and making yourself uncomfortable. So, we're hoping to help reframe those thoughts today. For the discussion, have you ever thought, I don't have time. I'm not good with money. I was never taught. Or anything similar to that. If you have thought these, these are all limiting beliefs. These will hold you back. These are saying that you need to stay in your safe space. Limiting beliefs can happen in any area of our life. And so we need to understand which ones we have and how to create a change to support us in moving forward. So, I want to talk about the limiting belief, I don't have time. Now I'm not going to say, you know, we're all busy, we all do this thing. I want to tackle it from a different standpoint. Working with your money, managing your money, does not have to take a lot of time. Now, in the beginning, as you're learning, as you're making some changes, it's going to take more time than after you've learned it. But, the process of managing your money, every payday, and throughout the month, Does not have to take a lot of time. 15 minutes on payday. A couple of health check ins during that, you know, the two weeks. I'm going to use the two weeks because that's where most of us are getting paid. I know there's weekly and there's monthly. No different. But it really just comes down to spending the time as soon as you can and then supporting that with your health checks between those paydays. Creating a real budget does not mean a rewrite every month. So you might be thinking, Ah, it's going to take so So much time because you see these people that are doing it. Have you done your January budget? It's coming up and here's mine, you know, and they, they do this and they present it in such a sense that you're thinking, I have to write one every single month. That takes some time. Yeah, it does. You don't need to do that. You do not need to do that. You create a budget and as you learn your spending needs and your spending habits, your budget becomes fluid. It's really just down to refinements and adjustments. There's not a January budget But there's that. It's not that. It's your budget. It's your household budget that fluidly goes with you forward on your journey. There is no recreating. So, you may have this thought, having seen other people do that. You do not need to do that. You can do that. Now, if these people love to do that, and it works for them, then please do it. perfect. But if that is what's creating that limiting belief for you, you don't need to do that. On the flip side, last episode we talked about creating a financial vision. There's a desire for that vision. How much time can you give that desire? How much time do you want to give that desire? So having that financial vision drive your time, drive your priority is so important. So if you're not feeling that desire from that financial vision from last episode, it's time to revisit. It's time to dig a little deeper and build that desire because that desire will want time. and to keep fueling it, to keep going, to know you're getting closer to that ultimate vision. All right, check. Going to the second limiting belief, it's too hard or I'm not good with money. They kind of go hand in hand. Money does not have to be complicated. So you vision somebody who has got, you know, wealth accounts, they're investing in all these places, they're doing all these things. That is complicated for the beginner. If you're not beginner taken care of, there's no need to step to intermediate or advanced, right? Take the stage you are in. Take that. Own that. That is not going to be hard. You can't jump ahead. You can't jump to that end goal. You've gotta start with today. You've gotta start with the stage that you're actually in. The beginning stage is simple. It's income. You probably know how much. Or you can go figure it out. Easy peasy. And then expenses. The expenses every payday, the expenses throughout the year, and then the expenses for the future. That's it. That's all you need to be worried about in this foundational setting, in this beginning stage. Get good at doing those things. That is what I help clients with in my Freedom, Financial Freedom Launch, my 90 day program. We build and dive into just that. Getting you good at that in 90 days. And then teaching you how to go out and tackle those higher stages, those bigger stages. But honestly, those are going to be different for everybody. As you finish out that beginner stage, and I don't want to say beginner as like, oh, I'm just starting out. Getting that foundation built. Right. We don't put a walls up for the house or a roof on until that foundation is set. So make sure it is solid. Make sure you also have that vision, right? That vision then is going to guide this next stage where you dive into taxes, investing, insurances, But those are the ones you're curious about that have an immediate impact on where you're wanting to go with your vision. You don't just go, okay, what do I learn next? There's going to be a process, and having built that foundation, that will come naturally. You'll know what to do next. And that's how you grow your financial knowledge and keep getting better with money. But don't jump ahead. Don't view somebody who is doing all of the things with their money and managing You know, they've got support people, they've got all these different accounts. That is complicated for you if you have not got the foundation supported. So make sure that you start there. Make sure you build that foundation. Don't jump ahead. That's what makes money complicated, but money is not complicated. You can learn how to do it. You've just got to start at the bottom step. You can't jump to step 10. All right, so no matter your limiting belief, and I only talked about two or three today, you need to define your reframe. Find your positive affirmation, your positive thought. What is going to propel you? What is going to knock that negative thought out of your mind. If you're an entrepreneur, this is imposter syndrome, right? We are letting things sneak in to take away from what we know our capability is. So we need a reminder. A couple ideas for those reminders are, I can learn new things. I can enjoy managing my money. I want to be better for and fill in the blank. What is that for? I deserve to feel at peace with my money. Now those are just a couple of ideas. Choose a positive thought. Reframe your negative, you know, thought or your limiting belief into something positive. I can, I want, I deserve. And once you have one, that's all I'm asking is one, then add your commitment to your financial vision. I can learn new things so I can achieve, and it's your financial vision. I want to be better for so that I can achieve my financial vision. Right. It's your financial vision that is driving all this that is building the desire that then you've got to go back and do those milestones, those little steps, just like we talked about last week and creating the goals. You've got to go build the foundation to even start working towards those goals. It's going to take some time to make those changes a better habit, a more natural habit, a more quick to jump to. That's just what I do. I don't overthink it anymore. And I'm going to share with you, I have a client who says she still procrastinates looking at her numbers. because of the bad feelings she had before, right? The situation. She always was like, Oh, what is it going to look like? And I'm just going to fill that again. But she's like, I haven't felt that the entire time working with you. But I still think that before I open it up. So changing that is not easy. As we say, the brain loves to go to a safe space. The brain loves to take you back to what is comfortable. So being able to So, change that with that positive affirmation, with that positive statement, if you need to write it down somewhere, and remembering, always remembering to tie it to your financial vision. Alright, so, earlier I talked about a routine, right? Creating something that happens at payday, this is essential to being successful with money. You need to make sure you have dedicated time and space to proactively, not just reactively, handle your money. Right? I know a lot of people are, Ah, that would be so great to have. What do I have for money? What bills are coming up? That's really a reactive. And spending the time, you already are in the know. It may be a double check, but you need to commit to a time. And so what I'm going to ask you to do is create space as close as you can to paycheck. I'm just going to call it paycheck because I know there's a variation. It's not always Fridays. But choose that day. It could be after lunch, or after dinner, before dinner, or after I put the kids to bed. On this day, I am going to sit with my money, do the things I need to do. You know, and be prepared for the payday, for the paycheck period. I know life happens. We have life events that happen. We have emergencies. We have changes in plans. So, in addition to the time you're carving out, I want you to think of a backup time. So you've created it, it's for Friday night, and you get a special invite to go out with friends. What is your backup time? Saturday morning, or is it Saturday just after lunch, create that backup plan to support you so you're like, Oh, yes, we're gonna go do that. And I will shift it to this time. Now, it's not a procrastination. It's a backup plan for that initial time that you've carved out. Set yourself up for success. Make sure you have time carved out. This is when you're going to go, you know, receiving your check. Make sure your bills are paid. Think about what's coming up in the next pay period. You know, plan ahead. And if you can't get to it in that moment because of life, what is your backup plan? And make sure you are prepared for that. That committing to having that routine, always doing it right. When we work out, we have the days, we have the time. If I do it in the morning before I do all these things, or if I do it right before bed, I know that's common for a lot of people. And what is it you're going to do? Those are key. Those are the same with your money. When and what are you going to do now? If you're not sure what to do. You know, on payday, those moves you need to make, definitely, I cover those in my 90 day program. And I would love to have you join me or join my workshop at the end of the month where we talk about that as well. So what have we covered in today's episode? The negative doubts. The limiting beliefs. Define what yours are. What is the excuse you tell yourself every time you go to want to change with your money. You've got it in you. You know you want to make that change. But then that little voice is like, But it's too hard. It's too restrictive. You don't have enough time. What is that thought that keeps coming up? Now I want you to reframe it. You can switch it to a positive statement or just choose a positive statement. I can. I want. I deserve. Whatever your positive statement is, and then tie it to your vision. Tie it to your vision so that you have a complete statement that supports you. That's your action, right? That's your thing that's going to keep you going. And then create that routine. When are you going to spend time with your money? Because you can do it, you want to do it, and you deserve to do it. It's going to take a little bit of time every single pay period. When, what, where. Get your spouse on board, right? Get the people that need to let you have that time on board. Maybe if you have kids, they can do something. Okay, I'm going to take 15 minutes and in your 15 minutes you're going to go watch a movie, you're going to go play a video game, whatever it is that they love to do for 15 minutes. Give them that space so that they give you your space. This is crucial. This is key.