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Ep. 197 Back to Basics – The Key To Overcoming Financial Setbacks
In this episode of our back to basics series. I’m diving into the foundational elements that significantly impact your finances. Sharing a personal story of overcoming a financial setback due to unexpected medical debt, I highlight the unpredictable nature of life’s financial curveballs. The focus is on enhancing your mindset, which is crucial to regaining lost progress or maintaining momentum despite setbacks. I discuss the importance of balancing mindset work with tangible financial management, like budgeting.
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Podcast Key Points
2:05 – Curveballs will be thrown at you
2:27 – What is the one thing you can do to regain progress when they come
2:50 – Your budgeting system is important
3:20 – Fortify your budget against the inevitable setbacks
3:35 – Mindset work or strategy
4:20 – If you’ve done the mindset work but are still not seeing the results
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Going Back to Basics
Today we are in a back to basics series. Over the next few weeks, we’ll talk through the foundational pieces that make a massive difference in your finances. This short and sweet series I’m pulling out of the vault will help you solidify your finances and open the door to quickly see massive growth. So let’s get to it.
Facing Financial Curveballs
If you’ve ever felt like you’ve done all the work, made this progress with your money, you finally figured it out and then something happened and you lost everything. So what the heck is the point, right? You just feel defeated. I totally get it. We’ve been there.
Personal Story of Overcoming Setbacks
When my husband was hospitalized in 2017, we had done the work. In fact, he had just started a new job. He had been there about 30 days. But we were still in that waiting period, right? He was really ill.
Dealing with Unexpected Medical Bills
I had to call 911 actually, and have him taken via ambulance to the hospital. We knew we were going to be cash patients, so, you know, go to the county hospital. We had done all the right things that would make it, like, most feasible that things would work out. Right? But we live a mile and a half into a different county than the county that he worked in.
The Importance of Mindset
So essentially overnight we got six figures and medical debt, which sucked. Life is going to throw curveballs at us. We don’t know what’s coming, but something will come up. It’s inevitable. Right?
Strengthening Your Mindset
The key isn’t to avoid all the curveballs, is what do you do when they come. That’s what’s the one thing that you can do to regain progress faster or avoid losing any momentum at all. It’s strengthening your mindset. If there wasn’t a most important piece of the framework, it’s going to be of the unstoppable finances framework.
Building a Strong Financial Security
The budgeting system is important and it’s designed to help you keep the numbers on track. But how do you stay on track? By working on your mindset, by working on your relationship with money, by overcoming negative money mindset stories because we all have them. By taking action to improve your mindset and having resources available for when those inevitable setbacks happen.
Prioritizing and Working on Both Mindset and Finances
But we’re not always going to be 100% prepared. So we’re on the same page now, right? We have to prioritize and work not only on the numbers like and actually having a budget, but you have to work on your mindset. And they’re both important because if you work on your mindset only and maybe the way that you approach money, but you don’t, like, get into the tangible and the numbers like, there’s only so much that the mindset work will do.
Find the Missing Piece
We have to have that combination, right? But you might be thinking, okay, I know a lot about money mindset. I’ve worked on this. I do this on an everyday basis, fill in the blank, whatever that might be for you. Maybe it’s meditation, maybe you’ve read several money mindset books.
Next Steps for Results
Maybe you’ve done the things to work on your mindset, but you’re not seeing the results that you deserve. There’s a piece that you’re missing, but don’t worry, I’ve got you covered. We’re going to talk about that part in the next video. Because this right here, knowing about the mindset, you’ve done some of the work on the mindset, but not seeing the results that you deserve is something that I see all the time and we can fix it.
Working Together to Remove Guilt and Shame
If you’re struggling with shame and guilt around your finances, whether it’s debt impulse, spending mistakes from the past, or the fact that you still haven’t hit your income goal, then it’s time for you to work with me. There are different levels of support and price points that you can use on the path to removing that guilt and shame so you can step into your unstoppable life. After all, your finances are unique to you and your support should be too. Go to workwithaimee.com to get started with one of my most popular programs.
