Improving Your Money Mindset & Habits + Why Working On Yourself Is Non-Negotiable On Your Journey To Financial Freedom

Episode Number: 354

Episode 354: Improving Your Money Mindset & Habits + Why Working On Yourself Is Non-Negotiable On Your Journey To Financial Freedom

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Improving Your Money Mindset & Habits + Why Working On Yourself Is Non-Negotiable On Your Journey To Financial Freedom

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Do you have a positive or negative money mindset? Are you conscious of the habits that correlate with those mindsets… or are you more like a jellyfish, going with the flow and not sure where you stand? 

In this episode, I guide you through the significant impact of the intangible aspects of your financial journey. I offer definitions for mindsets and habits, present a framework for self-assessment, share my personal experience in leveraging a challenging situation, and provide insights on regaining control over your financial situation.

In this episode you’ll also learn more about:

  • What mindset is, why it’s evolving, and how it’s shaped in your life
  • How to assess your mindsets and habits at the beginning of your financial journey 
  • Understanding how your mindset and habits feed into your current financial situation
  • Actionable steps to improve your money mindset, the ant mill or death spiral phenomenon, direct and indirect money habits + more
Episode 354: Improving Your Money Mindset & Habits + Why Working On Yourself Is Non-Negotiable On Your Journey To Financial Freedom Share on X

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Jamila Souffrant 0:02

Nothing is going to be a loss. Like there's no way I can lose. Because I've already won. Because even when it's a loss, it's a lesson. And everything, everything happens for a reason even the knows that or the delays were to save me from something else that could have happened, or to put me in a better position that I could even have fathom. And so that mindset has helped me tremendously in starting my business, and on my journey.

Intro 0:30

T-minus 10 seconds. Welcome to the Journey To Launch podcast with your host, Jamila Souffrant. As a money expert who walks her talk, she helps brave Journeyers like you get out of debt, save, invest, and build real wealth. Join her on the journey to launch to financial freedom in 5, 4, 3, 2, 1.

If you want the episode show notes for this episode, go to journey to launch.com. Or click the description of wherever you're listening to this episode. In the show notes, you'll get the transcribed version of the conversation, the links that we mentioned and so much more. Also, whether you are an OG journeyer, or brand new to the podcast, I've created a free jumpstart guide to help you on your financial freedom journey. It includes the top episodes, so listen to stages to go through to reach financial freedom, resources and so much more. You can go to journey to launch that comm slash jumpstart to get your guide right now. Okay, let's hop into the episode.

Jamila Souffrant 1:42

Hey, hey, hey journeyers Welcome to the journey to launch podcast, I'm your chief launch officer, or just your fellow journeyer Jamila souffrant. I'm excited that you are here with me today listening. No matter where you're listening from. I am wishing you Happy Holidays, if you're listening to this in real time, although you may listen to this month after it's out, it will still hopefully be of use and helpfulness to you. I want to first say that I'm actually recording this episode in advance because your girl was trying to get ahead for the holiday season.

Plus, I knew I would be busy because my book, Your journey to financial freedom came out on December 5 2023. And so this book is available right now, if you have not gotten any holiday gifts, or you want to give someone a powerful gift that hopefully doesn't break your budget, this is the perfect one or buy it for yourself. Your journey to financial freedom.com is where you can find out all the places to buy the book. It's available on Amazon. So you can search the title on Amazon, you can go to book shop.org, you can go to target, you can go and walk into your local bookstore, hopefully it will be there and all the places. And so I'm excited because the book is out, I am finally able to share more of the contents of what's in the book. And that's what I want to talk with you about today.

So I want to discuss mindset and habits. It's something I've brought up before. I mean, it's a through line, and so important on our journey to know what our mindset and habits are. And if we need to adjust, improve, or be aware of them, and how they are either helping us or hindering us on the pathway to financial independence and just enjoying our life. And I talk about this throughout the book. I mentioned before the FIA Formula, and there are six components of the FIA Formula. And four of the components are tangible, we often hear about them in the personal finance space, because you can measure them, you can go to work on them externally, the income right earning more expenses, being optimized or spending less or cutting back your assets, how to improve your assets or increase your assets. And then liabilities, how do you pay down debt, get rid of debt or use debt for good and in a sense, and the two intangible factors are indeed your mindset and habits. They make the tangible happen, they make the tangible doable. So many times people want to jump into I just want to make more money, or I just want to spend less, I want to invest, I want to pay down debt and obviously those are things you need to do. But you may wonder, even though you know you need to do those things, why you haven't done them. Now of course, let's take out external factors you have no control over. But you may think to yourself, Well you know, I know I need to earn more I know I need to spend less and all these things but I just for some reason, I can't do it or it's not working. And that's why your mindset and how you feel and think and your habits what you do consistently. They are so important because I would argue and say those are actually just as if not more important to hone in on and work on, to enjoy the journey to financial freedom you see, because even if you don't have the external things yet you don't have the money in the bank account, you're not doing what you feel externally. And that you can measure with numbers where you should be, if you have the right mindset and habits, it's inevitable that you will move forward on your path, it's inevitable.

Now, of course, there's going to be things outside of your control. But if you have the right mindset, you have the right habit, you know, I would say you probably 99.9%, better equipped to bounce back from hardships, and to handle what life throws at us. So that's what we're going to be talking about today, actually go through this on chapter five of the book, your journey to financial freedom, we go into more detail. But I want to talk about how it's important to assess your mindset and habits when starting the journey. Or even if you're already on your financial journey, to really look at what it all means and how it interrelates to what you're doing now. So let's just describe or cover what mindset is, your mindset is a combination of your internal beliefs and your thoughts, which determine your relationship with the external world, other people and money.

Your mindset is shaped by a lot of things, various influences, and it's evolving and changing. I like to think of it as when you're born, your mindset is like a pile of untouched clay. And just imagine that hands begin to shape that clay and the hands are everything around you, right? It's your environment, it's your parents, and family, society, culture, all these things that start to shape how you feel or view the world. So it's almost molding this untouched form of clay, that we're all born with our mindset. And then everything around us is influencing the way we think or feel. And there are going to be things that happen around you. And you have to learn to interpret and make sense of what those things are. And how you react to those things, especially the things that set you back or seem like obstacles is really important. One of the things, if you view setbacks or obstacles as signals of hey, I should give up or an opportunity, that's gonna make a big difference on what your journey looks like that mindset approach to failure. And how you view yourself. Do you take failure personally? Does a failure define that you are a failure? Or is it just a instance and opportunity to learn more?

Now, I will say having a positive mindset isn't the same as having a false sense of reality. Because, you know, I know everything is not always okay. And I'm not asking you to, you know, smile when you really want to cry, although there have been studies that show if you smile, even if you don't feel like smiling, that actually impacts your mood. And, and it does help. But you have to be able to rise above whatever negative emotions and feelings and circumstances are happening to you and around you. To focus on what your responsibility is, in that moment how you react to it. And with a more positive mindset, you have a more enjoyable journey, it causes you to look at what you can control, because you know that you can't control other people you can't control. You know, your co workers, or your boss, you will help to influence them. And but you cannot ultimately control them. I have not learned how much how much that actually applies to people that having kids where you want the best for your kids, you could do the best you can. And you know, you're consistently trying and doing things to help them. But they ultimately will make a choice. And especially when they get older, and they get more autonomy, and just more independence. You can't control what they do. You can only control what you do and do your best to nurture and love them and hope that they turn out okay. And so it's the same thing when you're dealing with interactions with people and situations in your life. Of course, you cannot control those things completely. But you can control how you react to it. And how you assess or are introspective in those moments.

So money mindset, when we think about money mindset, obviously it's like a small part it falls in it's under your overall mindset. So we can't address your money mindset without thinking of your overall mindset. And in order to do that, a lot of times you want to just strictly talk about just money, but the problems or maybe the internal strife we feel about things are more. It's overall more things than just money that we are thinking about or feeling.

Now habits habits are an important factor in your financial journey. Your habits are either helping you by By supporting you to get to your financial goals or life goals, or they're hindering you, your ability to save or reach your financial goals strongly correlates with whether or not you have good habits. Habits help you with your expenses that can include, let's say, you know that you need to meal prep to save money on going out to eat or food, or that you need to have a habit of budgeting and saving money. Right? These are all things that directly impact your money. Anything you do often is considered a habit. Now, sometimes we don't think of things as habits because it is ingrained in our life every second, or we do it so often that it's just what we do. So brushing our teeth, if you do that consistently, which I hope you do, every day, that's a habit. You know, when you wake up, and you maybe look at your phone, by the way, I'm one of those people I have not, I have not overcome the not reaching from our phone first thing in the morning, okay, work it out it maybe not. But that's the habit. All these things are habits that impact what we do with our time what our day looks like. And the same way our money grows and compounds over time, the same way that ultimately your habits compound, and directly impact things over time.

Now your mindset and habits they work together. Because oftentimes, we need to shift our mindset around a topic, before we can build a better habit around it, or the reverse can be true where we have to just do a task. And then with action comes more clarity, knowledge and maybe proof that something is working and results, that allows us to have a more favorable mindset around the subject. So I really do believe it's almost like this loop, it's a circle. And they work together. Really importantly, and it's really true when it comes to money. I think a lot of people don't like talking or dealing with money. I mean, there's a lot of reasons, but one of the reasons is because the work it takes or what it is what you think it takes to be good with money, if good with money, right or to succeed, require some habits. And some mindset shifts that maybe more feel like responsible have to do things where you just want and where the benefit of don't doing those things feel so far away. So you know, saving and investing, you know those things. I feel like I don't get to reap those benefits until decades or years from now. And I really want to live my life now. So I have to like do these things that don't feel good in the moment, why should I do them. And the habit of investing and saving money budgeting, making more economical spending choices, those are all meant to make us feel financially secure in the future.

But you know, there is a sense of and adopting a mindset that doing that, for the future actually helps us today in the moment. And because we are so much of us are doing things, especially if you're working in a job you don't love or you have a commute. So this was me years ago, where it just feels like you're doing so many things that you don't want to do. And then now adding on money as a task, not realizing or seeing that the benefit of doing that impacts you immediately. People avoid, or it feels hard. It just feels unbearable. I know, I know, for some people, and then it makes everything feel overwhelming. You feel unfulfilled. So I believe initially to even want to begin this journey, you have to have a sense of optimism that you can accomplish something by embarking on the journey. Otherwise, why would you try to do anything if you feel like nothing is going to work or you won't make progress. And so because the journey also is so long and there are many Sprint's within the marathon, and there will be setbacks. Or you may change your mind about things and external circumstances that just cause you to change course, maybe pause on saving and investing because something else came up. Or you need to utilize your resources in another way. You have to have that mindset on the journey that is a positive one. Otherwise, you'll want to give up and I always say it's okay to rest. It's okay to pause on the journey but you never permanently stop. You keep walking at least you know, you can walk at a slower pace. But you keep walking, you can catch your breath. You can take a nap, but you don't permanently give up.

So now it's really important to assess what your overall mindset is, in general, right? Without understanding how your mindset and habits feed into your current financial situation. You can't make the necessary changes that you want. So you may not realize well why is it that I'm stuck at this income level? Why can't I stop myself from spending on this thing? You might feel that you're in these loops, or maybe it's not even knowing you're in the loop but you don't have the results you want. And so if you don't have the results you want you don't feel good about that, then it's time to assess and be honest about what is happening and where you are. A lot of it is awareness. Awareness is so important because you cannot change what you do not know you need to change. You know, it's like having a blind spot that you do not realize is a blind spot. And therefore, why would you ever work on that thing? Just like I remember the saying a fish doesn't know it's in water, because it's surrounded by water. It doesn't have the knowledge to know that there's anything else but water, that water is a thing because it's just what it is. And so, understanding what you need to do, even if you don't do anything right away, is powerful.

I had Jon Acuff on the Podcast, episode 236. And he wrote the book soundtracks, the surprising solution to overthinking. And he talks about this a lot about these negative stories, or these broken soundtracks we tell ourselves, and they're very persuasive forms of ending and invasive forms of fear or negativity that are within us, because we don't even know sometimes we're playing the soundtrack. And think about how many times you don't like a song. Like, there's a lot of songs, maybe that I'm not, I don't like but they're so popular, and they play a lot on the radio or just in general. And then I find myself singing it, just singing along with it almost on autopilot. Even though I don't like the song and just realizing like, wait a second, why am I saying that? Why am I singing? That? Is an awareness, right? That I can now say to myself, I'm going to stop doing that. Or I'm going to continue doing it. But now I am in control for from doing it or not.

So what are some ways to understand your current mindset? Be observant, be observant of your everyday thoughts. You can even write them down. You can journal if you're into journaling, use your notes, application on your phone. You can even speak into your phone, that phone has recorder, you have iPhone, and talk maybe through your just thoughts or how you feel about things. You can think about prompts to help you if you get stuck on you don't know what to write down. But what comes to your mind when you wake up in the morning. Are you in a good or bad mood? What are you excited about? What makes you happy? What makes you concerned? What are you grateful for? So just begin to think through like where are you with how you feel about things about the world about your life, and be honest with yourself. So this is going to be really important. Don't say or write or think what you think you should say. I think the best or one of the best gifts we can give ourselves is honesty. Because that awareness will not happen if we're not honest with ourselves, because we will still continue to lie, or hide the things we need to work on. So continue to observe how you not only think but how do you react to people? Before you respond or act? Can you pause, see what comes up for you in daily situations? And then see if you can spot patterns about things, your feelings or thoughts. This can happen if you are in a workplace environment. Do you have negative thoughts and emotions when you walk into the building or about people? Now again, we're not laying blame on people, or yourself, right? Because maybe you have a negative thought about a person and you think they're an idiot or not, you know, not nice or not supportive. And that's true, right? But we're not. I'm not saying that what it's right or wrong with your thinking, I want you to just do observe what you're thinking.

And then just reflect on how your thoughts or feelings about the situation or person impacts your reaction to them, and the people around you how they perceive you. So having negative thoughts is fine. This is not about eliminating negative thoughts and feelings, and everything's amazing. It's more about having control over first awareness, and then the control over what you want to do about it. Because having these negative thoughts, the emotional reactions impact your life and impacts your job and ultimately your income. And if you can recognize those patterns, acknowledge them and give them Grace if you're having them because it legitimately there legitimately might be a reason that you're feeling that way. But think about okay, how can you improve that? You know, I think about situations where I've been in where maybe I had a co worker, and we were dealing with the same manager who might have been incompetent or just not an effective manager. And well, one person they took on the mindset or the response of negativity, right so they met that manager with same negativity which is fine, that was the choice versus me okay, I'm gonna meet this but what can I do about this situation? I can either respond also a negativity, or I can work to remove myself from the situation and do my best and work to get to a spot where I feel more comfortable, right, where I'm still doing what I need to do in order to make it through.

Now having same situation, but what's different, obviously, me and the person are different, we have different experiences different ways we, we what we tolerate, which is not necessarily a good or bad thing. But again, what is it? What's happening around you? And how do you respond to it. And even despite the negativity, there is a lot of positivity to be found in the world, even in the places and spaces you don't like, even in the people that you feel, you know, are not, quote unquote, good at what they do or annoy you. Like, there's, there's good and most people I think, and so understanding and having grace for not just yourself, but for others will allow you then, to deal with situations differently. Take the commute, for example. So I had a horrible commute to New Jersey. And I at one point, right, like it was, you know, when I first started working wasn't as bad, especially when I didn't have as much responsibilities. I didn't have kids, you know, I dealt with it. But then as I got pregnant, started having more kids traffic patterns, change, my commute went from, you know, one hour to an hour and a half, sometimes two hours. And it was you know, really just a nightmare. And I remember saying to myself, someone at my job, because my job knew about my commute. Obviously, they knew I lived in Brooklyn. And you know, there was some people would look at me because they lived close to our workplace. And a lot of people relocated, but I'm like, I'm not moving to New Jersey, even though this is probably another podcast episode, I almost did buy property investment property in New Jersey, but didn't. But I really just said to myself, you know, if I just think about how bad this community is, every day, while I'm in it, that is not going to serve me, I'm just going to be more miserable and upset. And everything is going to just piss me off on the road. And then when I get to, you know, like if I focus on just a commute, and I remember, you know, a couple of my co workers would say like, I don't know how you do that. And I'm like, you know, I don't know, either. I don't think about it. If I thought about it, then it would make me more miserable. And so I chose to focus on what I could do with that commute time, how could I make it more enjoyable. So before I did find out about financial independence, and got obsessed with podcasts, I would call my best friend. And that would be our time to catch up or call people that I need to talk to or listen to music. But it was really when I found the fire movement and podcast and discovered, you know, the beauty of podcasts, they were free. There were millions of topics that I can like listen to. And then I was in my car. And so I will listen to the podcast on one and a half time speed. So speed it up. And I would be excited in the mornings when especially certain days when my favorite podcasts or, or podcast dropped an episode. And I'd look forward to it like, okay, I get to listen to these two episodes on my commute. And so I turned my commute from even though other people would have been like, I can't do this, I'm miserable to I'm doing it, I saw unless I'm gonna change the situation, which I was not willing to do. Because I was quite frankly comfortable, comfortable with my job and not someone actually who likes to make big changes. I said, I need to make peace with this, I need to make peace with it. And it is what it is. And until I'm willing to change it. It does not make sense to complain and be negative about it. Let me think of all the beautiful things. And I used to actually love going like when I got to New Jersey and to the area I used to love it because it was so different from Brooklyn a lot more greenery it felt, you know, I see deer, I'll see deer in Brooklyn. So I just felt like I actually enjoyed I made sure to pick up the things I enjoyed about working not only in my job and all the positives that came with that job, but then also the environment and even the location. And so I really challenged you that if you are currently in a situation, especially your workplace situation that you do not enjoy or commute, that you look at how it's helping you. Now, I believe everything's happens for a reason. And so even if it wasn't this pathway, it would have been another pathway that that would have gotten me to something positive in what in my dreams. But if it wasn't for my commute, maybe I wouldn't have a podcast, or maybe I wouldn't have found out about financial independence. Because I wouldn't have been in need or search for something like this. Maybe the pain wouldn't have been so bad that I needed to find I needed to just find something else.

Sometimes that that pain, that thing that bothers us is actually the thing that allows us to get off our butt and do something different. And so how can you view it in that way, whatever situation going in, or through how you can You use what you're going through to serve you. So that's a mindset shift. If it's, if you don't think that way already. And that way, you know, I always say that nothing is going to be a loss, like there's no way I can lose. Because I've already won. Because even when it's a loss, it's a lesson. And everything, everything happens for a reason, even the noes the or the delays, were to save me from something else that could have happened, or to put me in a better position that I couldn't even have fathom. And so that mindset has helped me tremendously in starting my business, and on my journey. And so I want you to think about where you feel realistically and honestly, about things happening in your life right now.

Some other things you can do to think about, like where you are with your mindset and money mindset, specifically, are to ask yourself question, so what were some of your first money memories? A lot of people have actually negative money, memories, or no, really no thought money. And you know, your family didn't talk about it. But what were they had? And how does that impact your mindset about money? Was money talked about in your household growing up? Or discussed by your parents? What thoughts and feelings come up? When you think about money? Do you feel stressed and anxious about it? Do you feel a sense of security where you are or discomfort? Do you think having more money will solve your problems? Be honest with yourself? Do you think having more money and income will solve all your problems? When you do picture someone who has a lot of money? What do you think about them? Especially if it was someone who maybe got that money handed to them? Maybe maybe a trust fund baby or someone who's benefiting from nepotism? How do you feel about that person? You know, is it a negative kind of like, so mad, so jealous or whatever, and it's fine. Remember, you need to be honest with yourself about how you feel, or else you won't be able to begin to be aware, if you need to change how you're feeling about something, change it? Do you think people who have a lot of money are good or bad? Is it possible for someone to be wealthy and still a good person? Is money, the root of all evil? These are questions to ask yourself to help assess where you are currently with how you feel about money. And once you do answer these questions, sit with it. And is there a correlation between your answers and your current money situation? And the way you handle money is Do you see a correlation?

When you see the articles online to clickbait ones that have very catchy titles, so that you click on it, like, this couple paid off $100,000 of debt in three months, or this person is a millionaire? And here's the two things she did or he did. How do you feel about it? Now, of course, it's easy to want to roll your eyes that a lot of just the topics or the way they frame things. But when you let's say you read the article one, does it make you not want to read the article? Because you're like, does it make you curious and say you want I'm gonna give you a chance to read the article. And maybe when you do read, well, my mom bless the person that the article is about who has paid off $100,000 In a short time. And maybe one of the ways is my mom left me, let me live with them. And you know, there's some other tips, maybe they give, and maybe they get three or five things that happened for them or to them or that they did that helped them do that task. And let's just say three out of the five of those things you can't relate to you don't have a parent who let you stay with them. So does that turn you away from learning from the other two things they talked about? Right. And so because there's sometimes this is a lot of gold, under the you know what, and you know, I'm a big believer of using what you need, and using what works and leaving behind what doesn't. Because, in guaranteed you're probably in a situation even though you don't feel like you have privileges or as much as the next person that you'd like, you have more privileges and someone else that you know, if you're listening to this podcast episode, you had, there's a provision that that you want to know about financial independence and his podcasts, and have working maybe internet or Wi Fi or a phone, or a way to listen to this where there are so many people if you want to zoom out in the world that don't have that don't have access to technology, or the internet or even a safe place to rest their head at night. Because they're in a war zone. Right? Like there will always be people who have more and people who have less. And I'm one of those people that know that there is always going to be situations and people and just privileges and it's not about when you acknowledge them, you diminish your hard work or what you've done but it's also realizing and taking almost. If I have this if I and I know people have less what can I do? wit the gifts For the privileges that I've been bestowed, right, and so another thing to do is think about what you have that others don't and how that is useful to you, and not just focus on what other people have that you don't.

Let's talk about now that you maybe have realized, okay, I can definitely improve my mindset, or habits. So I know we're focusing more really aren't. We talked a lot about mindset just now. But what are some ways you can improve your mindset? You know, some of them are going to be low cost or free things. Some of them may require investing in money, like to do this into something. But some ways that helped me improve my mindset, podcast. And there are so many topics on podcasts, but whether it was about money, podcasts, business podcasts, that helped change what I thought was possible, it helped introduce me to so many concepts and things that then allow me to think bigger, dream bigger, and really do what I'm doing now. books, books are important. Shout out to my book, Your journey to financial freedom. How can you read more if you're interested in a topic about that? If you can't buy books, you can go to your local library and borrow them for free. community and social connection. So we are often we don't get to choose who our family and well you could choose your friends most as you get older, but your family you can't choose, you can't choose, you know, the society or the neighborhood or community for the most part that you're born into. But as you get older, you can't change that you can choose differently. And so how can you choose different people, that you feel good around, that you feel inspired around that people maybe when you go around them, it's you don't feel that you feel uneasy, you feel negative, and that could be family. And you know, I'm not one that thinks just because their family, your people that you've known forever, you need to stick by him and deal with negativity or abuse. But I know some people have stronger ties and you know, choose to work with that. But ultimately, you can choose other environments to be in and other people to surround yourself with and going into spaces where people are more positive or doing the things you want to do. Game Changer. And you can do that online. So some of it could be like a one way where you maybe you're following people or you're it's almost like maybe they you're not interacting with them one on one yet, but you are. Okay, you're listening to someone you really admire about maybe like they what they've done, or two, maybe a more a two way conversation or connection, you're joining a community where you can speak to someone so like, you know, Facebook groups or some paid groups, right, some paid communities, where it is worth it to pay to be in a community where you're getting the support and resources and safe space to help you reach whatever goals you have. Therapy therapy is important. So you know, I know, obviously, I'm no licensed therapist, but I believe therapy is important. And so there are some things that yes, you can work on by yourself and do those things. But having an outside person who's licensed to help you go through some of the bigger things, trauma, deep rooted things that you need to work on, that can be impacting everything. Therapy is really important for that coaching, you know, paying for coaching when you find the right coach. And really, really, you know, if you can invest in those things invest, I'm a big proponent of investing in yourself. And mindset. And a lot of stuff is free, some things you just can get and some things you pay for, because it's worth it. When your mindset is different, or when you're in a different environment. This also leads into turning yourself or realizing if you have a fixed mindset versus a growth mindset, the fixed mindset thinking that you're you're failures, where you can't do something if you fail at it one time, versus a growth mindset that you can grow into the person you need to become or just one failure or maybe even 50 failures does not mean you're a failure. It is just a data you can use to try again and maybe the 51st time, you'll make it one last thing for now about your mindset before I move on to discuss habits a bit is that I wrote about this in the book, I thought it was so fascinating. This phenomenon called the ant mill, or the death spiral. So the thought loops that we have or behavior loops that are negative are similar to this phenomenon called the ant mill or death spiral. So the ant Miller death spiral happens, what ants lose track of their colony or separate from the foraging party when they go out. So they follow the ant in front of them. And what happens is the ant in front of them begins to circle and then all the ants just begin to circle because they're lost. So there was just following in a circle and do you know what happens to those ants? They die of exhaustion. Because they are lost. They're just following behind the end in front of them. And I think that is very similar to when we follow our thoughts and existing mindset. And we're not aware that it's putting us into a death spiral. But we have to, and it's very hard for one of the ants to break out of the death spiral. But it can't be possible if they if they don't fall in front of them, and they kind of break away from it. And then the other hands kind of break away, and it's no longer a death spiral. And that's what you have to do you have to find a different thought, find something different. If, like I said, if you're not working, if something is not working, if the external reality is not what you want, it's most likely from your internal reality, and what's happening. So what can you do to change the thought or take the act that needs to be taken out of that spiral? To start a new pattern?

Right, let's talk about habits. Habits are really important. Habits are, you know, the things we do consistently talked about a little bit in the beginning. But it's important to now assess your current habits, do you have habits that are hindering you or helping you? What are the habits that you have? And how can you change them if you need to? Some positive and now we go specific into money habits. So positive money habits can be creating a monthly budget reconciling that budget. So it's not just enough to create a budget once but you need to reconcile it, meaning you need to look at what you said you spend and do versus what you're actually doing to be able to make any adjustments and changes. Packing your own lunch is a healthy money habits, eating breakfast at home or making coffee at home is a healthy money, habit, reading money books, healthy money, habits, and listening to money podcast, hello. Now, there are things that are direct habits. So you do this thing and it impacts your money right away. There are things that are more like ripple effects of money habits, meaning it doesn't, it doesn't feel like it's impacting your money right away, but it is. So getting a good night's rest could be impacting your money because it all falls down into you don't get a good night's rest, and you're tired. And so you wake up and you don't pack the lunch, right. So that impacts how you wake up in the morning and the time you have listening to maybe you're not listening to money podcast, but you're listening to self development podcast, which gives you more competence to ask for the raise, right. So it's not like listening to something that's giving you specific money tips, or you know, how to negotiate your salary, but it's giving you something else, a tool that does impact how you feel how you walk into the world, exercising, right, doing a physical activity, can you know be a ripple effect and how it impacts your money. Because when you do work out or do something physical, you feel more confident, you don't hide, you don't hide maybe behind things or clothes or, or you want you speak up because you don't mind feeling seen because you feel confident about yourself. Or you have the endorphins after you know you do the run or the exercise or the walk. And it allows you to then walk with your head higher, right or with your shoulders back. And that impacts how people view, right. So those are just habits or things you can do that don't necessarily look like they impact your money. But they're called ripple effect, positive money habits.

So I want you to really think about especially as we if you're listening to this in real time at the end of 2023. And how your year has went and now we are you know getting into a new year where you can start off fresh I mean, you don't have to wait to the new year to start are fresh, by the way, because you very my might well be listening to this in the middle of the year and 2020 for artists and whole two years from now who knows. But it's never too late to start over or to try again. With the book coming out, I created a small party or like I call them my VIPs because I wanted a small group in which we could they can help launch the book. So they got early access to the book. And we had a nice little Facebook group. And they are all bunch of goodies for me because I wanted them to interact with the book contents. And you know, if they liked the book and enjoyed it, hopefully share it, share it with family and friends when it came out and left a review on Amazon by the way. Great time to mention. If you read the book, please leave a review on Amazon. It's so important. It helps with the books rankings and all that. But what happened in this group, right?

We had one of our mixers where I got to meet them on Zoom. And I had a 76 year old journeyer in the group who was starting over her husband had passed away 10 years prior and just in general she talked about it was very candid with everyone that she was looking to still reach her financial goal calls and was in the group, because she wanted to learn more. And I thought, like, wow, how powerful is that? That 76 She knows it's not too late, she has a lot of life left in her, and does have the mindset that it's not too late. You know, I was in awe, I think everyone in the call was in awe at her and so appreciative of her sharing her story with us. And so I just want to reiterate that it's so important to have the mindset and habits to work on the internal, the intangible things that you you might see immediate results from, or it might take some time. Because ultimately, if we do have to start over, like my dear journeyer, who was 76, starting over, if we don't have the money, or the job, or the external validation of nice things, for whatever reason, but we have ourselves, we have this vessel that we live in, that we operate out of, and how we view the world, how we view people, how we treat people, that is the real commodity, you know, our experiences, our relationships, how we feel how people feel when they are around us, even though we can't control how people feel, but we can, we can be a light for ourselves, you know, immediately and then you know, afterwards, let that light shine to others. And so just a big proponent on the mindset and habits and who you become on this journey being more important than the external things that we are looking to still achieve.

So I hope you enjoyed this episode around mindset and habits. You know, we discussed what mindset and habits are, how they impact your overall life and money journey, how to assess your mindset. And think through where you need to maybe change or adjust, gave you some tips on free and you know, some paid things you may need to do in order to adjust your mindset. And then we touched upon habits a bit about assessing your habits.

My book, your journey to financial freedom is out right now. You can buy it right now, everywhere books are sold, you can go to your journey to financial freedom.com talk about all this in the book and give you concrete ways in which you can change your habits. Think about your mindset differently, or change your mindset and be successful. Internally on this pathway to financial independence. You can pick that up now and get more information through the book, your journey to financial freedom.com I hope you are safe wherever you are. I hope if you're listening to this in real time you are enjoying your family and friends you're enjoying the holiday season and that you are feeling blessed. All right, join yours. Until next week, keep on journeying.

Outro 42:55

Don't forget you can get the episode show notes for this episode by going to journey to launch.com. Or click the description of wherever you're listening to this. And you can still grab your jumpstart guide for free to help you on your journey to financial freedom by going to journey to launch.com/jumpstart. If you want to support me and the podcast and love the free content and information that you get here, here are four ways that you can support me in the show. One, make sure you're subscribed to the podcast wherever you listen, whether that's Apple podcasts, that purple app on your phone, your Android device, YouTube, Spotify, wherever it is that you happen to listen, just subscribe so you are not missing an episode. And if you're happening to listen to this in Apple podcasts, rate review and subscribe there. I appreciate and read every single review. Number two follow me on my social media accounts. I'm at journey to launch on Facebook, Instagram and Twitter. And I love love love interacting with journeys. They're three support and check out the sponsors of this show. If you hear something that interests you, sponsors are the main ways we keep the podcast lights on here. So show them some love for supporting your girl for and last but not least, share this episode this podcast with a friend or family member or co worker so that we can spread the message of Journey to launch. Alright, that's it until next week, keep on journeying journeyers

Transcribed by https://otter.ai

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