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In this episode of Your Money Your Life, we discuss the critical subjects of inflation, the economy, and how the upcoming election may impact both. We explore why inflation happens, the history of the US dollar, and ways to mitigate the financial and emotional stresses that may arise. I’ll share practical tips on understanding and managing your emotions, avoiding triggers like social media and the news, and self-care techniques to maintain your peace and focus.
Tune in to learn how to take control of your finances and navigate these challenging times with confidence and clarity.
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Podcast Key Points
0:00 – Episode Overview
1:30 – Things You Need To Know
3:10 – The US Dollar
6:49 – When Fear Shows Up What Do You Do
13:13 – Recap
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Understanding Inflation and the Economy
We’re going to talk today about inflation, the economy, and, at the time of this recording, the upcoming election. We’ll discuss what you need to do to prepare and how you need to view these things to minimize the effect that it has on you and your business. So let’s get to it. This is the Your Money Your Life podcast. I’m your host, Aimee Cerka, a money confidence coach for female entrepreneurs on the path to six figures.
Why Talking About Inflation is Important
We are going to be talking about inflation and economics, the economy, all those things over the next couple of episodes. And at the time of this recording, we are approaching the election here in the United States. This series has been one that I wanted to revisit because we did a combating inflation training back in spring of 2021. And I knew that it was time to bring it back. It feels like the right timing for this.
Feeling Stressed About Money? You’re Not Alone
First off, you are not the only one that’s feeling the emotional roller coaster. A lot of people are feeling stressed, they’re feeling distracted, and there’s that uncertainty out there, right? So first off, you’re not alone. That’s where we’re gonna start with that. But secondly, we have to talk about how the economy in these situations affect you and your human experience and your business.
Understanding Why Inflation Happens
So, as always, I’m going to break it down. Let’s talk about why specifically inflation happens. The US dollar is a fiat currency. So what that means is it’s not backed by anything valuable anymore to hold its value. The Federal Reserve can print money whenever they want, and the more money that’s in circulation, the less it is worth.
Why You Shouldn’t Stress About Inflation
Know the information, but don’t stress over it. Don’t worry about it. Don’t get caught up in thinking, “If only the bad guys would do better.” This is just information. Process it, understand it, so that we know why these things are happening.
Taking Care of Your Emotional Response
Let’s talk about that fear and what to do when these fears come up. The logical brain and the emotional side work differently. I live in Texas, and we had something we dubbed snowmageddon in February of 2021. Our power never went out because we had the fire station nearby. But I triggered a trauma response for myself during that time.
Learning To Manage Your Fears
We have to understand that we have to work on the emotional part, too. Don’t beat yourself up over it. Logically, we need to take the steps that we can to take care of yourself. Avoid social media, avoid the news, not watching the news. What are those triggers for you that make you feel that fear?
Practical Steps to Overcome Stress
Working with a coach can help you handle these triggers. Getting outside, grounding yourself, standing barefoot in the grass, getting fresh air, and sunshine can help. Removing yourself from the situation and working with a coach can be very helpful. EFT tapping can also be useful. Focus on what you can control.
Upcoming Episodes and Actions to Take
Next week, we’ll talk about the action steps that you should be taking right now to make sure that you are on track and that you are truly unstoppable with your finances. Whether it’s the economy, election, or whatever new crazy thing we are dealing with, we have actionable steps to take. If you have questions, send me a message on Instagram. I’d love to hear from you. See you next time!
If You’re Struggling Financially
If you’re struggling with shame and guilt around your finances, it’s time for you to work with me. There are different levels of support and price points that you can use. Go to https://workwithaimee.com to get started with one of my most popular programs, or you can book a Q&A call with me. We’ll figure out what your next step should be. All those links are in the show notes as well.
