185. Your Past Money Habits Created Your Current Financial Life
episode
Becoming The Wealthy You | How to Save Money, Stop Overspending, Get Out of Debt, Budgeting & Personal Finance for Women
21 min
1 speaker
3 chapters
transcribed 1 month ago
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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 there. Welcome back to the podcast. Today, I want to talk to you about an idea that has been on my mind. So I just returned from vacation and I took one of my favorite books with me. It's called A Happy Pocket Full of Money. And it's kind of on a deeper level. And it's one of those books that you want to reread.
You can't just read it once and grasp all the information. And so throughout my vacation, I just picked up and read sections of it, right? And one of the sections that I read was, really, really stuck out to me when I first read the book. And it just really hit me again this time. And so that's what I want to talk to you all about today. And we're going to go ahead and dive into it. So here it is. The financial results you are experiencing right now were created by you in the past. Okay, so the amount of debt you have right now, the amount of savings you have right now, the amount of investments you have right now, your net worth, all of those results are They were created over time by you with your past thoughts, past feelings, past decisions, past behaviors, and the way you've been relating to money up until now, okay?
So that is the idea, that everything you're experiencing right now in this present moment was created by things you did, thought, and didn't do in the past. And listen, I know that that could sound heavy at first, but I actually think this idea is so freeing and liberating. Because if your financial life was created by how you thought, felt, acted, and behaved with money in the past, then that means that your future financial life will be created by how you start thinking, feeling, acting, and behaving now, today. And that, my friend, is so empowering. And I think it's empowering because that's where this idea of 100% responsibility comes in. Some people call it radical responsibility. And again, I know this could sound heavy too, but when you hear...
That phrase, 100% responsibility, that does not mean that you blame yourself for everything that's happened in the past, right? Taking 100% responsibility does not mean that you blame yourself for every circumstance, every emergency, every hard season, or every unexpected thing that happened to you. you cannot blame yourself for those things. You should not because those were outside of your control, right? It doesn't mean that you blame yourself for those things. It means that you take ownership of your ability to respond and to learn from those things that has happened to you. So for instance, If you've had emergency expenses that have come up and you didn't have the money for it and you had to go into credit card debt, maybe the first or second time that happened, maybe you responded very reactively.
But if that happened over and over again, that's an opportunity for you to learn from that and say, oh, I don't like being caught off guard.
How did Jermaine introduce the idea that your past created your current financial life?
I don't like having to go into debt. for unexpected things or unplanned things. So let me build up a war chest. Let me build up my savings so that the next time this happens, guess what? I'm ready. So that's what it means. That's an idea of what it means to be 100% responsible. It's not to blame yourself, but it is to give yourself that powerful feeling of, listen, no matter what comes my way, I can figure it out. I can be prepared for it. I can navigate through it. I can navigate my way. And when you take 100% responsibility, then it's like you put yourself in control of what you can control. Because a lot of things you can't control, but there are even more things that you can control. And so putting yourself in the position to be able to take that 100% responsibility will give you the opportunity to stand in your power.
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Chapters
3 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
184. Why Money Keeps Coming In and Going Right Back Out
183. Why Knowing What to do With Money Isn't Enough