“A problem that can be solved with money isn’t a real problem.”
What do you believe about money? What does money mean to you? We may have different meanings to it. BUT, we all know what thing. It is VALUABLE. The question is, why do we sometimes make irrational decisions about money? Financial writer, Emily Guy Birken, emphasizes that the better we know about who we are as people, the better we will be able to handle our money. And NOT knowing who you are can lead to financial stress.
Emily Guy Birken is a former educator and lifelong money nerd who specializes in the scientific research behind irrational money behaviors. Her background in education allows her to make complex financial topics relatable and easily understood by the layperson. She is the author of four books: “The Five Years Before You Retire,” “Choose Your Retirement,” “Making Social Security Work for You,” and her newest title “End End Financial Stress Now.” Her work has appeared on The Huffington Post, Business Insider, Kiplinger’s, MSN Money, and The New York Times online.
In this episode, Emily and I talked about different money perspectives and people’s behavior on money. Listen and learn insights about financial stress and some tips and strategies on how to end it.
In this Episode, You’ll Learn About:
- [7:30] “Darkside of Solving Problems with Money” Money Story
- [15:15] What is The Cash Envelope System?
- [19:35] The Darkside of Solving Problems with Money
- [25:28] Managing Different Money Perspectives in a Relationship
- [32:58] Realizing the Value of Your Time
- [38:03] Homo economicus vs. Behavioral Economics
- [41:00] A Peek on Emily’s End Financial Stress Now Book
- [48:55] It’s Not All About the Money
- [54:20] What is Financial Paranoia?
Watch the episode:
Quotes:
“A problem that can be solved with money isn’t a real problem.”
“Found money is not really found money that’s free for you to spend on whatever. It’s actually all part of your budget.”
“Money is a source of stress.”
“Not willing to honor the time or the value of your time can contribute to anxiety around money.”
“One of the things that I learned early on, I did the newbie freelancer mistake of saying yes to any offer no matter how low the price was.”
“Human beings will, when presented with options, sit there and think through what’s gonna be the best for them instead of having a gut emotional reaction.”
“Politicians are fully-aware on how human beings react emotionally and they use it.”
“A lot of times people think that the end of financial stress is the end of financial problems. That’s not true.”
“There’s never gonna be any amount of money that you could have that would end your financial problems.”
“You can end your stress even if you still have financial problems.”
“The better they know themselves about who they are as people, the better they will be able to handle their money.”
“We put our own construct on what it means to have or not have on to money.”
“You want to make sure that you recognize the importance of money in your life. It is similar to the importance of your children in your life.”
Links and Resources:
SPONSOR: Energy Mind Body Transformational Experience
The 6 Figure Academy YouTube Channel
The Five Years Before You Retire by Emily Guy Birken
Choose Your Retirement by Emily Guy Birken
Making Social Security Work for You by Emily Guy Birken
End Financial Stress Now by Emily Guy Birken
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