E81: How to Move Past the Money Issues You've Been Avoiding

Nov 25, 2020

We can all struggle with avoidance of money issues at certain points in our lives. Let's talk about how to move past them.

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How to Move Past the Money Issues You’ve Been Avoiding

  • Why do we avoid money issues?
    • Budgeting
      • Glaring visibility into how we spend
      • Feels like punishment
    • Saving for financial independence (retirement)
      • Head trash over not being further along
      • Feels insurmountable
    • Feels overwhelming
      • The financial industry doesn’t help (too complex)
      • It’s hard to plan what’s for dinner tomorrow night — how to plan something 20 years in the future?
    • Looking at finances brings up all the mistakes we’ve made in the past
  • You’re not alone
    • 8 out of 10 people live paycheck to paycheck
    • Financial literacy education is virtually nonexistent in the U.S.
    • Many people grew up being told that talking about money was taboo
  • Acknowledge privilege
    • It’s ok to be upset about it
    • Success is a mix of privilege and actions
  • Learn to forgive yourself (and possibly your partner)
    • Focus on your emotions
    • Acknowledge the mistake out loud
    • Think of each mistake as a learning experience
    • Take your own advice
    • Write yourself an apology
  • Focus on one thing at a time — start simple
    • Write down your spending for 30 days
    • Practice saving a little bit extra each week into your savings or investments
    • Simply look at your net worth statement every day for 30 days
  • Set up your environment for success
    • Put notes on your mirror
    • Create good digital systems (todo apps, etc.)
    • Get an accountability partner (ex. Wealth Workshop)
  • Plan for failures — and deconstruct them to learn
  • Improve little by little every day

Intro/outtro music credit: eccentric - I Can Show You [Argofox Release] by Argofox