163. How “I Deserve It” Thinking is Quietly Wrecking Your Finances
episode
Becoming The Wealthy You | How to Save Money, Stop Overspending, Get Out of Debt, Budgeting & Personal Finance for Women
20 min
1 speaker
4 chapters
transcribed 1 month ago
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What is the
You are listening to the Becoming the Wealthy You podcast with Jermaine Foley.
If you're a woman who makes good money in your career or business, but you're not building wealth like you want to, then you're in the right place. In this podcast, you'll learn how to stop overspending, break free from the cycle of debt, save lots of cash, and become the wealthy woman you were born to be. Let's dive in. Well, hello there. Welcome back to the podcast. Today, we're going to talk about a thought that runs through a lot of our heads, and it is so invasive that I want to dedicate an entire episode to it. And that thought is, I deserve it. And honestly, this is a thought that I used to think a lot back in the day. And I still find myself thinking it currently if I am not too careful. So I understand why many of you may be thinking it as well, right?
Because you work hard. You carry a lot. You show up for everyone else. So when the thought pops up, it feels justified. It feels like you finally are doing something for yourself. And sometimes that's true, right? You are giving yourself a break that you deserve. But other times it's not. Other times it's a way for us to justify spending money on things and experiences that we know are we probably shouldn't be spending money on, right? It's a way to justify our emotional spending, our impulsive spending, and our overspending. And it is one of the reasons why a lot of us are stuck in the cycle of credit card debt. We're not where we want to be when it comes to savings or investing. And it's one of the reasons why we feel frustrated with our financial situation, right?
We feel like we should be further along. We make good money, but it doesn't feel like it. And I want to offer that this very subtle thought, I deserve it. Okay. So I want to back up for a second before we dive into all of what I have to share today, because I deserve it. The thought I deserve it usually doesn't come out of nowhere and it very rarely shows up on its own. There's almost always a thought before it. And it sounds something like this. I work hard. So I deserve it. I've had a long week. So I deserve it. I do everything for everybody else. So I deserve it. I never get to spend money on myself.
How does the 'I deserve it' thought sneak into spending decisions?
So I deserve it. And a lot of times this whole thing happens so fast, you don't even realize that you're thinking it. You don't even realize that this is happening because it's happening automatic. It's on an unconscious level. And the biggest reason is because it feels justified. So we don't question it. And so I want you to know if you are someone who consistently justifies your purchases and things that you want by saying, I deserve it, that doesn't mean there's something wrong with you. It doesn't mean that you're irresponsible or that you lack discipline. This is usually from exhaustion, you all, from resentment maybe, or even feeling underappreciated. And so when we are in this space together, then spending becomes like a reward.
It's relief and it gives us a release that we're looking for. And it feels like you're giving yourself something back. So it makes sense why we're doing this. It makes sense why your brain is offering you this thought that you deserve it. But when we slow this down and really think about what we're saying and what we're doing, This thought becomes very expensive because it causes us to overspend, it causes us to go deeper in debt, and it causes us to neglect our future financial goals and our future financial security. So here's how I want to break this down for you today so that you can really understand what's going on. I deserve it. That three-letter sentence is a thought. Right. And when we think thoughts, they create feelings and emotions in our bodies.
And when we have those feelings, what they do is they drive our actions and our inactions. And those actions that we choose to take or choose not to take create results in our lives, right? So I just want you to notice what an innocent thought like I deserve it can create. Because when we don't become aware of this and slow this thought all the way down, it starts to quietly steal our wealth and run our financial situation in a way that we don't like.
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Chapters
4 chaptersSpeakers
1 identifiedMore from Becoming The Wealthy You | How to Save Money, Stop Overspending, Get Out of Debt, Budgeting & Personal Finance for Women
189. How to Build Wealth Without Giving Up the Life You Enjoy
188. The Biggest Financial Mistake Women Make After Getting a Raise
187. Making Good Money Isn’t the Same as Building Wealth
186. Why Making More Money Can Still Leave You Feeling Behind
185. Your Past Money Habits Created Your Current Financial Life
184. Why Money Keeps Coming In and Going Right Back Out