181. Why It Feels Like Something Always Happens When You Start Saving Money
episode
Becoming The Wealthy You | How to Save Money, Stop Overspending, Get Out of Debt, Budgeting & Personal Finance for Women
16 min
1 speaker
5 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
What is the main topic discussed in this episode?
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, everyone. Welcome back to the podcast. Okay, so today we're going to talk about something that I see come up with my clients often, especially when they start making real progress with their money. A lot of times when women first come to me, They haven't been able to save much. They've been making good money, but money hasn't been able to stay. They haven't learned the skill of having money, keeping money in their lives.
So when we start working together, guess what? They start learning the skill of having money. They start building their savings. They see it grow. They feel proud. They feel encouraged. And they start really having positive thoughts like, OK, I'm finally doing this. I'm finally getting ahead. And I'm finally, finally keeping more money in my life. And as you can imagine, those thoughts feel really, really good. But then inevitably something happens. Life happens. Something legitimate, like the car needs to be repaired. The tires need to be replaced. Something comes up with the house. Maybe you need a new water heater or the kids just need something. So we're not talking about anything frivolous or impulsive.
We're talking about legitimate expenses that come up. So again, this is not them buying something random because they're bored. Literally, we're talking about real life expenses that show up and they really need to use some of the money that they saved. And suddenly, right, because of this new expense, this unexpected or irregular expense, the number in the account starts to go down. And what I notice a lot of times that when this happens, they feel really, really frustrated or discouraged because in their mind, the savings account was finally growing and the number is now starting to go in the opposite direction. It's starting to go down. And so instead of those positive thoughts they were having earlier, like, oh, I'm finally making progress.
When this happens, when an unexpected expense or something comes up, they start to think, see, I can never get ahead. This always happens.
Why do women feel like 'something always happens' when they start saving money?
Every time I start making progress, something comes up. I knew that this wouldn't last. What's the point? And once those thoughts start rolling in, it changes everything. The whole mood changes because now it's not just about a hot water tank or a car repair. It's a whole story. It's so-called proof that something always happens, right? It's not just an expense anymore. It becomes evidence that no matter how hard they try, they always end up back in the same place. And that is what I wanna talk about today. Because if you ever, ever felt like that, right? You make progress and then something happens, you have to take care of a legitimate expense and your savings account or the money you put aside starts to dwindle.
I want you to know that there's a better way to think about this and there's a better way to handle it. OK, because using your savings doesn't mean that you failed. Believe me when I say that it doesn't mean that you failed. It just means that your money failed. did exactly what it was supposed to do, protect you, okay? And so I wanna be very clear. If you find yourself, if you see yourself in what I'm saying, it does not mean that you're doing anything wrong and it doesn't mean that your saving strategy isn't working. As I just said, sometimes it's just evidence that your money did exactly what it was supposed to do. It prevented a financial blow that life threw at you. Like you can just really look at it like that.
And throughout this episode, I'm gonna give you some more things to think about. But I see this so often that I really want to take an entire episode to address it.
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Chapters
5 chapters
1
What is the main topic discussed in this episode?
0:00–2:46
2
Why do women feel like 'something always happens' when they start saving money?
2:46–6:33
3
What examples of legitimate expenses cause savings to dip (car, home, medical)?
6:33–10:25
4
How do thoughts like 'I never get ahead' change your behavior after using savings?
10:25–15:07
5
Why doesn't using savings mean you failed — how did the host reframe this?
15:07–16:57
Speakers
1 identifiedMore from Becoming The Wealthy You | How to Save Money, Stop Overspending, Get Out of Debt, Budgeting & Personal Finance for Women
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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