What narratives do you tell yourself when it comes to money? Where do these money stories stem from?
“Look around; all of your clutter used to be money, all of your money used to be time.”
Your Money Scripts
Money is one of those topics (like health) that affects us all, whether or not we’re interested. However, it can be a particularly loaded topic due to all the emotions attached to our financial stories:
- “I can either do what I love, or make money.”
- “I have to work really hard to make money.”
- “Money is the root of all evil.”
- “I have no control over whether I become wealthy.”
- “Money doesn’t buy happiness.”
- “I’ll never have enough.”
Do any of these internalized scripts resonate?
From Frugality To Freedom
On today’s episode, we examine the most common psychological barriers around money with guest Paula Pant, creator of the podcast Afford Anything, which has received over 20 million downloads and is one of Apple’s top business podcasts.
She is a sought-out expert in the financial independence space, or the FIRE community, an acronym that stands for Financial Independence Retire Early.
Paula reached financial independence at the age of 34 by acquiring eight investment properties, so her story is incredible regardless, but even more so because of her background. Paula was raised in an immigrant family, where she was given traditional financial advice that often focused on extreme frugality.
In this episode, we discuss:
- What it means to become financially independent (15:21 min)
- The most common psychological patterns attached to money (17:55 min)
- Why frugality can be tied to a lack of confidence (21:41 min)
- Why consumerism and frugality are inextricably linked (23:51)
- How to break free from a scarcity mindset (24:36 min)
- Why you should track your expenses (38:29)
Listen to the full conversation here.
Submit Your Question
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