- Uncertain times exacerbate fear
- Fear is about the future.
- Financial fear is not dependent on how much money you have.
- Financial fear is never about money, but about the consequences of not having money.
- At the base of the fears are emotions such a shame, guilt, deprivation, and the fear of being alone. Fear of losing face or losing your position.
- Another base for fear is behaviour learned from parents.
- People worry because they think if they stop worrying, everything will fall apart. Read more
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Highlights from Today’s Episode
- You can’t build a successful business if you have a lousy relationship with money!
- Signs of both a good and bad relationship with money
The 5 Keys are:
- Count your money
- Be aware of your thoughts, beliefs, and emotions about money and wealth Read more
Do you remember the fuss about the movie and book The Secret and the Law of Attraction? The basic theory presented was that if you get your mind in the right place, everything you need will just show up. I was amazed at how many people I met were absolutely sure they were going to win the lottery.
Long before The Secret came out, I did endless affirmations, created and hung a treasure map where I could see it every day, and imagined I was acting as if I was wealthy.
I was also training myself to stop worrying, criticizing myself, and complaining, and I was cultivating an attitude of gratitude.
Did money come flying in the window? Did I suddenly have a lot of customers? Read more
A researcher at a Netherlands university conducted a study to see if women who want to lose weight are more motivated if they see a picture of a skinny model. The volunteers were given diaries to note what they ate and when. Half the volunteers got a diary with a skinny model on the cover and every page. The other half received a diary with a logo.
The results: The women with the diary with the skinny-model picture actually were not able to lose weight or gained weight, while those with the logo diaries lost weight.
The conclusion: The researchers said that “repeated exposure to models with unrealistic body sizes changes the dieter’s belief about the attainability of a thinner self.” This demotivates the dieters and they tend to move away from rather than towards their goal.
How does this relate to your finances? Read more
Do you have someone you can talk to about your finances in a rational way? Or do you just think, worry, and fret about how much you have or don’t have?
Perhaps you’re unhappy about your financial behaviors — like overspending, avoiding saving, or being generally vague — but you don’t talk about these topics. .
Not talking about money can cost you big bucks.
Why People Don’t Talk About Money
Most people avoid talking about the specifics of their finances. They might complain about their situation or the general economy without ever discussing their own numbers – how much they have, how much they need, etc. Read more
This is the time of year when the retail world does everything it can to encourage you to overspend. Retailers hope that spending to counteract feelings of deprivation will overshadow your practical need for financial sanity.
This year, the marketers are out in force with early Black Friday, keeping stores open all day on Thanksgiving, and other gimmicks to stimulate your hunger for stuff.
Now is the time to create a holiday spending strategy that will satisfy one of your more sober wants–that of wanting to feel more comfortable about your financial position. Here are some factors to take into consideration: Read more