Money & You with Michelle Perkins Michelle Perkins

EP 132: Living well leads to financial wellbeing!

Episode 131: The Power of Belief To Achieve Wealth

This podcast featured Dr. Greg Cason, host of the "Off The Couch" podcast, and his producer Brian Gomez, joining the Money and You Show to talk about money and psychology. As a guest expert specializing in cognitive behavioral therapy, they discussed the psychology behind one's money mindset, how past experiences and upbringing shape beliefs about money, and the impact of the environment on financial decisions. 

The conversation highlighted the importance of understanding one's relationship with money and how it influences life choices. The speakers emphasized the need for radical acceptance of oneself and the idea that money is not just a linear trajectory but influenced by many factors. They also touched on the significance of research studies in understanding financial behaviors. The podcast provided insights into the emotional and psychological aspects of money management, offering a deeper understanding of personal finance.

00:00 - Psychology of money exploration 
05:31 - Acceptance and financial planning 
20:11 - Influences on money beliefs 
26:42 - Money as relationship dynamics 
43:43 - Impact of environment on finances 

Takeaways:

- They delve into the emotional aspects of our relationship with money and how it is influenced by psychology.
- The role of cognitive behavioral therapy in understanding money mindset.
- How past experiences and upbringing shape our beliefs about money.
- The impact of the environment on our financial decisions and values.
- The importance of mindset in achieving financial goals.
- The significance of following intuitive inner knowings in financial decision-making.
- It's essential to have a positive mindset and accept oneself in order to navigate financial challenges effectively.
- Following intuitive inner knowings can lead to positive outcomes in financial decision-making.

For much more on ALL things money mindset, money management, how to earn a great living and take control of your finances…Subscribe to my weekly podcast, Money and You:
https://podcasts.apple.com/us/podcast/money-you-with-michelle-perkins/id1365907575?ign-itscg=30200&ign-itsct=podcast_box
And don’t forget to join the Limit Free Life email community for valuable, usable content and to learn about upcoming events: Let’s Connect… https://limitfreelife.com/newsletter/I’m excited to offer you a proven way to develop a next level relationship with money that will empower your mindset and financial mastery by “dating your money.”  Until you understand how YOU relate to money and what you believe about money, nothing will change. Once you begin to get to know yourself with money, learn the fundamentals of money management, and operate in a new way with money, everything will open up. Join my signature  “Your Money Date™” program and I’ll help you make the shift.  https://limitfreelifeworkshops.com/money-date/ The next one begins soon! For more information on Limit Free Life & Michelle Perkins: https://limitfreelife.comLinkedIn: https://www.linkedin.com/in/limitfreelife/Instagram: https://www.instagram.com/livealimitfreelifeYou Tube: a href="https://www.youtube.com/@michelleperkins-limitfreel2446" target="_blank" rel="noreferrer...

CEO of Limit Free Life®, Michelle Perkins hosts guest, Shari Rash,  the Founder of GWA Wealth, a virtual financial advisory firm that helps millennial and gen x families address financial challenges in a fun, comfortable, no-nonsense way. She is a Financial Advisor, the host of "Money CHIC" podcast and author of "Insider's Secrets about Women and Money."

We talked about the challenges millennials face, such as high housing costs, student loan debt, and how emotions play a key role in financial decisions. Topics like buying a home, retirement planning, student loans, and the importance of talking about money were discussed. Shari emphasized the need to remove emotions from money decisions, using money as a tool to achieve financial goals. 

The discussion highlighted the importance of flexibility, understanding where to invest money, and making money conversations approachable and fun. The podcast aimed to provide practical advice and insights to help listeners improve their relationship with money and make better financial choices. It is important as it addresses common financial challenges faced by millennials and offers guidance on navigating them effectively.

00:00 - Money relationship matters: Tough love 
06:36 - Millennials and financial challenges 
17:53 - Emotions and money management 
24:48 - Retirement planning insights 
31:06 - Student loans impact discussion 
37:56 - Money as a tool: Approachable advice 

Why do many millennials struggle with the idea of buying a home?
Many millennials struggle with buying a home due to the psychological hurdle of permanence, lack of readiness, and the societal taboo around discussing money openly.

What advice does the podcast offer regarding saving for retirement, especially for millennials?
The podcast advises setting aside a portion of income for retirement, adjusting savings goals based on living expenses, and considering alternative income sources to achieve financial security in retirement.

Building a healthy relationship with money involves understanding where your dollar can work harder and making informed financial choices.

For much more on ALL things money mindset, money management, how to earn a great living and take control of your finances…Subscribe to my weekly podcast, Money and You:
https://podcasts.apple.com/us/podcast/money-you-with-michelle-perkins/id1365907575?ign-itscg=30200&ign-itsct=podcast_box
And don’t forget to join the Limit Free Life email community for valuable, usable content and to learn about upcoming events: Let’s Connect… https://limitfreelife.com/newsletter/I’m excited to offer you a proven way to develop a next level relationship with money that will empower your mindset and financial mastery by “dating your money.”  Until you understand how YOU relate to money and what you believe about money, nothing will change. Once you begin to get to know yourself with money, learn the fundamentals of money management, and operate in a new way with money, everything will open up. Join my signature  “Your Money Date™” program and I’ll help you make the shift.  https://limitfreelifeworkshops.com/money-date/ The next one begins soon! For more information on Limit Free Life & Michelle Perkins: https://limitfreelife.comLinkedIn: https://www.linkedin.com/in/limitfreelife/Instagram: a...

This solo podcast addresses motivations and metrics around money. The importance of identifying personal motivators beyond just money, tracking metrics to make better financial decisions, and taking time each week to feel confident and in control of money were emphasized. Michelle touched on the psychological and emotional aspects of money management and the need to find what truly motivates each unique individual. The significance of tracking progress, similar to how students track grades in school, to make improvements and achieve financial goals. The podcast aimed to provide guidance on creating money metrics that are regularly checked and emphasized the importance of taking control of one's financial well-being.
Learnings
What is the importance of improving one's relationship with money? Improving one's relationship with money involves gaining control over finances and seeing oneself as a leader in financial decisions.
How can understanding motivators help in managing money better? Understanding motivators can help individuals identify what truly drives them to take action towards financial goals, beyond just the desire for money itself.
Why are metrics important in tracking financial progress? Metrics are important in tracking financial progress as they help individuals identify areas for improvement, make better decisions, and feel confident and in control of their money.
How can tracking metrics in money management be compared to tracking grades in school? Tracking metrics in money management is similar to tracking grades in school, as it allows individuals to monitor progress, make adjustments, and strive for improvement.
What is the significance of setting up systems and following metrics in financial management? Setting up systems and following metrics in financial management can be game changers, helping individuals make better decisions so they can achieve the financial freedom they desire.
For much more on ALL things money mindset, money management, how to earn a great living and take control of your finances…Subscribe to my weekly podcast, Money and You: https://podcasts.apple.com/us/podcast/money-you-with-michelle-perkins/id1365907575?ign-itscg=30200&ign-itsct=podcast_box And don’t forget to join the Limit Free Life email community for valuable, usable content and to learn about upcoming events: Let’s Connect… https://limitfreelife.com/newsletter/ I’m excited to offer you a proven way to develop a next level relationship with money that will empower your mindset and financial mastery by “dating your money.”  Until you understand how YOU relate to money and what you believe about money, nothing will change. Once you begin to get to know yourself with money, learn the fundamentals of money management, and operate in a new way with money, everything will open up. Join my signature  “Your Money Date™” program and I’ll help you make the shift.  https://limitfreelifeworkshops.com/money-date/ The next one begins soon!  For more information on Limit Free Life & Michelle Perkins: https://limitfreelife.com LinkedIn: https://www.linkedin.com/in/limitfreelife/ Instagram: https://www.instagram.com/livealimitfreelife You Tube: a href="https://www.youtube.com/@michelleperkins-limitfreel2446" target="_blank"...