3 Ways to Make Your Money Feel More In Control
episode
Wealthy After 40: Retirement Planning and Budgeting for Gen X
14 min
1 speaker
3 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
Why do I feel out of control with money even when bills are paid?
Welcome to the Wealthy After 40 podcast, the show for Gen X women and couples who are ready to ditch financial stress and feel confident about retirement. I'm your host, Dailene Higgins, money coach and retirement strategist, to help you gain clarity and confidence with your money by creating a spending plan that aligns with your financial goals and dreams so you can spend intentionally, save consistently, and feel at peace about your future. Join me every week to understand your money, simplify your decisions, and take intentional steps toward the life you want. So last episode, we talked about overspending. I feel like I'm overspending. And maybe the better word is I'm spending too much. Because in the sense of what I used in the last episode was
You're not carrying a credit card balance. You're paying it off every month. You're not on overdraft. All of your bills are met. You're even setting some money aside to retirement. But internally, you don't feel fine, right? On paper, yep. It all checks off. And even if I reach out to somebody, they're like, it looks good. But you're like, but I don't feel like I'm in control or I don't feel good about it. Right. Whatever those words are. And I asked, you know, for you to kind of share that with me. I hope you did or will. And we really talked about that it may not be an overspending problem. Right. I talked about seasonal spending. We talked about, you know, the different demands. And it's kind of in those moments that we feel like, oh, my gosh.
Or I know with my client, she got in a comparative state. Well, is this what other people are spending their money on? Would other people spend it this way? And so really focused on the idea that you're overspending or you're spending too much and really is tearing you down. It's creating this idea of inept. And what it truly is, is that you don't have a clear system to support your spending, right? You don't have a system to And so there are no clear spending boundaries because there's only two things we can do with our money, spend it or save it. And save it just means we're going to spend it in the future. So honestly, all we can do is just spend it. Unless you're creating generational wealth and very few of you are probably actually going to do that.
If you're listening to my podcast and if you are trying to bless your soul, I hope I'm being helpful. I really just want people to be in a place here now and into retirement where they're feeling good about their money, regardless of the amount. Right. We've seen people with loads of money. They're still not happy. So really, it's just getting to that place where you feel good. But right now you have no clear spending boundaries. There's no priority set, right? You haven't designated maybe your goal or your vision or what are your priorities? It's been a long time since I've shared mine. I spend my money on books, right? That is one of my priorities. And so hopefully you can declare something like that too.
But you also have no structure for decision-making, right?
How can seasonal spending and comparison cause money unease?
When things happen, you kind of have to go off of a sense of, well, when it's payday, it doesn't sound like it's too high priced. Yes, I think I would enjoy it, right? This is that situation. So a money system should remove those things. So initially, you think you're overspending or spending too much. And you tell yourself you need a stricter budget or you need more discipline. But that is not that is not truth that you you just need a system that's going to show you what is safe to spend where and when. Right. Because futures or savings is future spending. So when and where are very crucial as well. So within my framework, so if you've listened to, let me find the episode. Episode 172, I talk about my money systems.
So if you have listened to that, or if you haven't, go give it a listen. But the episodes around it are my entire framework, right? I do an overview, and then I have four phases of my and the second one is your money systems. And your money systems, yes, I have some set pieces in play, but the elements within are personalized.
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Chapters
3 chaptersSpeakers
1 identifiedMore from Wealthy After 40: Retirement Planning and Budgeting for Gen X
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