Lesson #103-How Our Mindset Impacts Our Finances
A lot of us are scared to look at and manage our finances. Often because the thought of dealing with numbers is a scary proposition. But the more and more I study and learn about personal finance, the more I realize that the numbers are actually a small part of the process and that behavior is actually more important.
I think Dave Ramsey says it best that "Personal Finance is 80% behavior and only 20% head knowledge." So today we're focusing on the behavior aspect our finances. But we're going deeper then just behavior, we're actually going to talk about the mindset that allows that behavior to happen.
To me mindset is actually even more important than behavior. That's because the behavior is important, but the mindset that allows us to change our behavior is even more important than the behavior ourselves. In today's lesson we try to prove that out by using the following three examples:
What is the point of today's lesson? The point is to challenge you how you view your finances and look at your own mindset when it comes to money. Do you have a negative mindset towards money? What about debt, budgeting, saving, investing, etc.? Mindset alone won't pay off you debt, save for emergencies, or start to give more. But it will keep you motivated and grounded as you move towards you goal.
Below are other podcasts and blog posts mentioned in the show:
Today's quote of the lesson is brought to you by Audible.com
"Big waves start with small ripples.” – Adam Braun
Enjoyed this lesson? If so, please consider taking a few minutes to leave a review of the show either in Stitcher SmartRadio, or iTunes. For a step by step video of how that works, please watch this video on how to leave a review in iTunes.
It is Free