Podcast

3: How to Deal with Money Anxiety

Are you feeling anxious about money? Today we talk about how to deal with money anxiety or in other words, how to feel better!

Before we get into it, you need to understand the relationship between our primitive brain and our prefrontal cortex, or higher brain and how feeling anxiety evolved from something that was very useful to our survival but rarely is in our modern day.

For most people, anxiety is not a pleasant feeling and most of us will do anything to avoid it. Be sure to listen to the episode to learn an easy process to manage anxiety and download the FREE worksheet to walk you through it!

If you want to uplevel your money and improve your mindset, you need to understand how anxiety works. Why? Because we all face anxiety and likely always will. However, anxiety does not have to result in paralysis and inaction. Instead, by learning what anxiety is and how to process it, you can move through your anxiety more productively. 

Wealthy Mom MD quote on money anxiety

Generally, when people feel anxious, they do one of three things: resist it, avoid it, or react to it. In order to truly deal with anxiety, though, we need to choose to fully experience it. By doing so, we can regain control and reflect more accurately on our situation. 

One of the most important things to remember about anxiety has to do with mindset. All of our feelings come from thoughts and beliefs. The reason that these beliefs become so powerful is because they feel like the truth to us. 

Learning how to turn a more critical eye to the thoughts and beliefs that make us anxious is key. 

The four-step process I recommend is to:

  1. Write down all of your anxieties
  2. Separate out the facts from thoughts, beliefs, and feelings
  3. Pick one thought and question it
  4. Learn to focus on the present

Explore this approach more by downloading my free worksheet and tuning into this episode.

Most of the time, when we are anxious, we are thinking about something that has not happened yet. Anxiety can be so distracting and overwhelming that it keeps us from focusing on the present. While worrying and enduring anxiety can sometimes feel productive, oftentimes it leaves us in a state of inaction. That is why learning to be more present focused, rather than future focused, can be so effective. No one’s life is ever going to be totally free from anxiety. Learning to process it effectively, though, will leave you productive instead of paralyzed. 

In this episode, we also explore:

  • How the primitive brain doesn’t always fit into the modern world
  • What spurs anxiety 
  • The differences between feelings and beliefs
  • A deeper dive into the four-step process to deal with anxiety 
  • My personal experience with processing anxiety with job loss during the pandemic
  • Effective strategies for focusing on the present 

Enjoy the show?

Subscribe to the podcast (on whichever platform you listen on) so you don’t miss an episode! My favorite podcast player is Overcast.

If you love what you’re hearing on the podcast, I would be SO grateful if you left me a review on iTunes. These reviews help other people find this podcast. And you may just hear me read your review on the podcast! To review: click here, then select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you!

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2: Emergency Funds are Sexy

Do you have an emergency fund? Why or why not? And, can emergency funds actually be sexy? In this episode, I discuss why everyone should have one and how the definition of what it actually is can vary widely. 

Follow along with my FREE worksheet on creating your emergency fund plan!

As a listener, I hope your goal is to uplevel your money and your life. How do we start to do that? One of the best ways to become more empowered financially is to have an emergency fund.

While an emergency fund might not be the flashiest part of your finances, when you need one, it is everything. In fact, when a financial crisis, like the COVID-19 pandemic, strikes unexpectedly, it is painfully clear how important that safety net is. So let’s take some time to explore what an emergency fund is and how you might fund yours. 

The biggest consideration when it comes to emergency funds is that the money is designated for something that is truly an unexpected emergency. When it comes to finances, a loss of income or reduction of income is probably the thing that is most likely to catch people off guard. 

Some people also include home and car repairs and medical emergencies in their emergency fund planning. However, it is important to ask yourself if there are certain things that you can anticipate and plan for. For instance, as a car owner, you know that you are responsible for oil changes, tire rotations, and other maintenance. The same is true for homeownership. That is why it is important to turn a critical eye to your finances to see how you can prepare for some of these costs separate from your emergency fund. It is also why making sure that you have the right health and life insurance is invaluable. 

When it comes to creating an emergency fund, I teach a four-step approach. 

  1. Define it
  2. Calculate your needs
  3. Determine where it will be
  4. Create your plan 

Explore this approach more by downloading my free worksheet and tuning into this episode.

Depending on where you are in your financial journey, you may already have an emergency fund, you may need to refill it, or you may be in the process of creating it. One of the most important things to remember about personal finance is that it is personal. That means that you want to create an emergency fund that empowers you based on your situation. You won’t regret building this safety net into your financial plans. 

In this episode, we explore:

  • Why you need an emergency fund and what you should actually use it for
  • The difference between lean and fat emergency fund numbers
  • Common and alternative ways to store your emergency fund, so that it is there when you need it 
  • A deeper dive into the four-step process you should use to start your emergency fund
  • How I created my emergency fund and how it has evolved over time
  • Other sources of cash that you can draw from in emergencies 

Enjoy the show?

Subscribe to the podcast (on whichever platform you listen on) so you don’t miss an episode! My favorite podcast player is Overcast.

If you love what you’re hearing on the podcast, I would be SO grateful if you left me a review on iTunes. These reviews help other people find this podcast. And you may just hear me read your review on the podcast! To review: click here, then select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you!

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1: What’s Your Lens?

Welcome to the podcast! I’m so thrilled you’re here with me on this journey. 

I’m kicking off this podcast with an introduction to your mindset. It’s the one thing we have complete control over. In this episode I go over what a mindset is and how your thoughts and feelings affect your behavior.

What is a mindset? Simply put, it is the lens through which you view your life. Some of you already think of yourselves as positive people, while others might see themselves as realists or even pessimists. No matter how you categorize yourself, you probably view your mindset as part of who you are. If that’s the case, that means you think you have a fixed mindset.

The reality is that we all choose our mindsets. Of course, if we aren’t being deliberate and intentional with our choices, we might not even notice that we are making choices at all. 

Truthfully, you can change your mindset and I can help you learn how to make that change. That means that you no longer have to wait for the perfect circumstances to feel a certain way about life. You can regain control of your thoughts and emotions to see different outcomes. Different outcomes mean a different life. That’s the power of choosing your mindset. 

Before we can begin changing our mindset, we have to understand our current lens. Take some time over the next few days to observe your thoughts and emotions. As you become a watcher of your own thoughts, resist the urge to judge. Simply notice. If you observe any negative thoughts or emotions, write them down. Becoming more in tune with your present mindset is the first step to creating a mindset that will help you uplevel your money and your life.

In this episode, we explore:

  • How your fixed mindset is impacting your emotions, your thoughts, and your beliefs
  • What it means to choose a new mindset that transforms you from powerless to empowered
  • The power of becoming a watcher of your own thoughts
  • The first step in transforming your mindset to level up your life

Enjoy the show?

Subscribe to the podcast (on whichever platform you listen on) so you don’t miss an episode! My favorite podcast player is Overcast.

If you love what you’re hearing on the podcast, I would be SO grateful if you left me a review on iTunes. These reviews help other people find this podcast. And you may just hear me read your review on the podcast! To review: click here, then select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you!

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This episode is brought to you by:

If you’re new to Wealthy Mom MD, be sure to subscribe to my FREE email mini-course, The 5 Money Myths Keeping You from Financial Freedom. In this mini-course I go over the 5 pervasive money myths that are out there and you’ll learn to never fall for them again. To sign up for this FREE mini-course, go to https://wealthymommd.com/moneymyths

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