#250: 5 Money Habits That Actually Change Your Life (Goodbye For Now)
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What is the main topic discussed in this episode?
most people, and I was absolutely this person, save whatever is left at the end of the month. You pay your rent, your bills, your groceries, you go out a couple of times, maybe you treat yourself a little, you buy stuff online, and then whatever's left, if anything, goes into savings. If I'm completely honest with you, I was very skilled at spending all of my money and only having a few dollars left. Hey, this is Alison Baggerly, and welcome to the Inspire Budget podcast, where we talk all about budgeting debt and saving money. I have some bittersweet news. Today is actually my last day doing the podcast, at least for now. I'm hitting pause and I'm not sure how long I'm going to be hitting pause on the podcast.
It could be for a little bit of time. It could be indefinitely. And I decided that for today's episode, I really wanted to give you some tips, tips that changed my life when it came to money and that I think will change yours as well. I need to be honest. I used to completely avoid looking at my bank account because I was so scared to see how much money I had or really how much money I did not have left every month. I would get to the end of the month, feel completely confused about where all my money went, tell myself I'd figure it out next month, and then just do the exact same thing all over again. Today, I'm sharing five things that actually changed the way I personally manage my money. And let me be clear, these are real things I did.
They were practical changes that made me feel like I was finally in control of my money for the very first time. We've got two mindset-based tips and three action-based ones. So whether you're someone who needs to fix your thinking around money first or you're already in the right headspace and you just want to know what to actually do, there's something here for you too. Tip number one, and I really want you to hear this one, stop treating money as a source of shame. Because here's the thing, most of us don't avoid managing our money because we're bad at math. We avoid it because it feels bad. We open our banking app and immediately feel guilty, stressed, or just embarrassed. And so we close the app and we don't look and the cycle continues.
I did this for years. I would get a paycheck, spend it, not really track where my money was going, feel vaguely anxious about money all month long, and then be shocked at the end of the month. And a huge part of that was that money felt like this big heavy thing that said something about who I was as a person. Like if my bank account was a mess, I was a mess.
Why is the host pausing the podcast and what will change next?
But here's the reframe I want you to try. Money is a neutral tool. It's not a report card. It's not a reflection on your worth, your intelligence, or whether you're a good person. It's just a resource. And like any resource, you can learn to manage it better. And you might be surprised that the first step is not budgeting. It's not automating your savings. It's just looking at your money without judgment. It's saying, okay, this is where I'm at. That's it. This awareness brings freedom and it just helps you figure out what your next best step should be. And if you grew up in a house where money was stressful or was never talked about or the cause of a lot of arguments, that stuff sticks with you. It's worth acknowledging that your past money story might be impacting the way you feel and respond to your own money right now in the present.
So the takeaway here for tip number one is this. Awareness always comes before action. you cannot fix what you don't face. And you don't need to have it all together to start. You just need to be willing to look at your money. Tip number two is another mindset one. And honestly, this one completely changed how I personally think about saving money. It's called the pay yourself first philosophy. And it sounds simple, but it has a major impact on your money. So most people, and I was absolutely this person, save whatever is left at the end of the month. You pay your rent, your bills, your groceries, you go out a couple of times, maybe you treat yourself a little, you buy stuff online, and then whatever's left, if anything, goes into savings.
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Chapters
4 chaptersSpeakers
1 identifiedMore from Inspired Budget
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