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Debt Shame Is Costing You Profit – Ep. 130

Feeling the weight of debt shame on your business? In this episode, we explore the detrimental impact of debt shame on business profitability. Let’s navigate feelings towards money and debt, empowering them to overcome shame and take control of financial journey. So, here we go!

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Resources Mentioned:

Money Mastery Academy: https://aimeecerka.com/academy
Instagram: https://instagram.com/aimeecerka/
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Podcast Key Points
0:00 – Episode Overview
1:21 – The Debt Delimma
3:11 – Healing The Trauma Around Money
5:18 – What You Need To Do Instead
5:52 – Money Debt Exercise

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Debt Shame Is Costing You Profit

Your shame around your debt and the thought of being in debt is costing you profit and revenue within your business and we need to talk about it. So, yeah!

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. After over 10 years in the personal finance industry and multiple personal financial and medical crisis. I was fed up with the lies that are being shouted from the rooftops by the Gurus and the media said.

I help you simplify, solidify and scale your money. By blending tactile money strategies with mindset work, you can create unstoppable finances together, you’ll finally figure out the money thing. So you can make more money in less time without living off of beans and rice, or sacrificing your lifestyle. Episodes here on the podcast are short and sweet.

Being married, having four kids at home, homeschooling being the CEO running the household, I’m kind of busy. And I know you are too. So let’s keep it simple and get to the point. Welcome. I’m so glad you’re here.

Welcome back to another episode of the Your Money Your Life podcast. I’m your host, Aimee Cerka. We are talking about debt shame, and how it’s costing you revenue, and profit within your business. Last week, at the time this goes live, it’ll be. Lastly, there we go.

Debt Shame and Its Influence on Decision-Making

I was doing a guest expert training inside one of the communities that I’m a part of talking about, like, you know, the, the debt dilemma is what we call it what good debt, bad debt, all of those things. And the reason why this comes up is because there is a lot of debt shame out there. From a lot of gurus they talk about, you know, debt is evil, that is bad, do whatever it takes to get out of debt, you’re dumb for making those choices, all those things come up, and it weighs on you not to mention stuff that you heard growing up, you know, like money doesn’t grow on trees.

And the money is the root of all evil. There we go. And we’ll set it like the correct way, because it’s the love of money. But there’s a lot of gurus out there that preach that and they’ll do like the you know, the debt free challenges.

The Weight of Cultural and Childhood Beliefs

And you know, you’re wrong if you’re in debt and all these things. And it’s very, it’s almost like a religion. Because it’s so indoctrinating, I guess, for lack of a better word, and you have to be so hardcore about it, or at least some of these gurus are and it causes problems. Because when you feel like there’s shame around your debt and those things, you’re more conservative and your purchases and your decisions, instead of looking at it logically, instead of healing the trauma that you have around debt and money and making like that logical decision.

Trusting yourself that you’re making the right decision, then you’re not showing up the way that you need to you’re not making decisions based off of where you need to, you have to be able to trust yourself that you’re making the right decision.

Healing Trauma Around Money and Debt

So what how do you do that? How do you heal the trauma around debt and money, you have to remove that lens. And this is not something that I can cover in one podcast episode, probably even 20 podcast episodes, this is a lot of the work that we do, like inside the academy, and we have to work through these things.

Because it’s personal, like it’s a personal trauma that you’ve experienced. So I can give you as much wisdom and insight as I can to help you uncover it. But like, don’t feel like you have to go through this alone. That’s good. We got to start there. Okay.

Moving Beyond Guilt and Shame

So why do you feel shame around it? Like, what’s the problem? Because if you look at it, like all that is, is it’s a purchase that you decided that you will pay for at a later time or pay for in installments. You finance a vehicle, it’s something that you’re willing to pay for overtime, you mortgage the house, it’s on the you’re gonna pay for over the time.

Now, granted, yes, maybe it’s not the best idea to pay for ice cream on a credit card. But you know what, it’s something that I do it not because it’s going into debt. But because I know that like I can get the rewards points and leverage it like stop looking at your credit cards and debt and these things as a bad thing.

It’s just a decision, a decision that you make, and then move forward. And if you did stuff in the past, like don’t feel guilty about it that solves nothing. Even if it was a wrong decision to quote air quotes, bad decision. They’re feeling shame and guilt about it does not change the past at all.

So what are you going to do now? What are you going to do moving forward? make better decisions in the future? Get more tools in your tool belt so you can make those logical decisions. But stop letting the fear of guilt and guilt of debt stop you from doing what you need to do.

Shift the Focus to Net Worth

Everything you’re unstoppable it’s like everything is figured out about like If you are unstoppable, it doesn’t matter, you’re just moving forward one step at a time, doing what you need to do day after day, week, after week, month after month, low points won’t be as big of a deal when you stop worrying about it.

So stop feeling guilty about your Dutch talk before about what you should do, instead of focusing on your debt. And that is your net worth, we need to focus on our net worth instead, because your net worth is your picture of where you are at.

So as you grow your net worth, as you pay off debt, your net worth grows, as you grow your assets, grow things in your business, put money aside and savings accounts, your net worth is going to grow. So it is the true picture of where you’re at. And if you decide to leverage something and you go into debt for a little bit, it’s not as big of a deal.

Don’t feel the guilt. Don’t feel the shame about it.

What is money to you?

I got two questions I want you to answer today. You don’t need a piece of pen will be good to write it down paper and pen would be recommended. The first thing is what is money?

Money is what what is that do for you? What is it? What is its purpose? You can pause this and write it down. I’m not going to sit here and pause forever. Because we don’t need all that dead space.

What is debt to you?

You’re busy, right? So once you’ve answered what money is, the second thing I want you to do is I want you to tell me what debt is. Debt is what to you. And I don’t want to give examples.

Because I don’t want to lead you. If you’re struggling with this and you can’t complete it send me a message on Instagram handle is @aimeecerka. It’ll be in the show notes too. I will help you walk through this because this is important. That is whatever it is fill in the blank. Okay.

Secondary Reactions and Gut Instinct

Now, I want you to look at those two things. How do you feel about that? Let’s back up a second. Okay. In the personal development space, we have this tendency to have a thought. And then we’re like, oh, no, no, I know better. That’s not accurate. I’m going to change it.

And this is what I really meant. So it’s like a secondary reaction. So we have our gut instinct. And the secondary reaction takes over because you quote no better, right. For this example, I’m hoping you wrote down your gut instinct.

If you didn’t, I want to see you write down or think about your gut instinct now. Because that’s really where we’re at. And there’s nothing wrong with it. But we have to become aware of where you’re actually at so that you can move forward, we can’t have the blinders on here.

Try On a Different Perspective

So now that you have that, how do we feel about our two answers, our gut instinct answers. And then I want you to switch it. So whatever you said, that is what if that was what money is, and how you felt about money. Whatever you said about money was how you felt about that.

Just try it on for a minute. See where things land, see how you feel? Does that feel aligned? Does that feel on? inauthentic? Does it feel wrong? Just sit with it for a minute, and see how those things feel.

And it’s these type of awareness, things that we go through that are going to help you remove that shame around your guilt. So that’s where we’re leaving it for today. If you’re struggling with this exercise, if you need help to work through it, send me a message on Instagram. I want to help you. We can do this together @aimeecerka. Link is in the show notes. We’ll see you next time. Bye for now.

Special Gift for You

Thank you so much for listening to the Your Money, Your life podcast, I’ve got a special gift for you for sticking around to the end. And if you’re tired of your finances being a mess, this is for you. What if you could take charge of your money without feeling overwhelmed.

Even if you’re not a numbers person, even if you just don’t know where to begin, even if you don’t have the time, even if you failed in the past and even if you don’t want to sacrifice your lifestyle. Take messy action and finally make progress with your finances without feeling overwhelmed pinching pennies or staring at a spreadsheet for hours with the 14 Day Money Mastery action plan. And when you use coupon code podcast I’m gonna give you 40% off. Just visit aimeecerka.com/action and grab the 14 day action plan for less than $20. All right, talk soon.