The Power of Financial Habits
How can habits change lives and build an abundant mindset? What are some limiting beliefs that could hinder financial growth? How can we avoid impulse spending? On this podcast, Coach Yani and Joyce Pring will talk about the process of establishing financial security.
Building A Positive Relationship With Money
Starting with the scarcity vs. abundance mindset, wherein scarcity outlook leans towards the idea that everything is limited, while the abundance view comprises the thought that giving will cause us to gain more. Shifting the mindset to gaining through giving will instill in our minds that things do not run out, which will lead us to have a positive point of view about money. Another is understanding the attitude of gratitude whereas if we are always thankful, then we can attract more. For this reason, even the littlest things should be thankful for. (YM)
As opposed to what most individuals maintain concerning the belief that money is evil, its influence, however, has the power to change and empower people’s lives. Instead of looking at it as a barrier for comfort and happiness, it can be looked at in a counterintuitive approach such as when a person will surely gain and be abundant if he knows the power of giving. Contrary to what the majority think that we become more by keeping more, abundance emerges from accepting the fact that there are other better ways to improve and earn. (JP)
“How you are in one thing is how you are in everything.”
How do you build stable finances?
Establishing strong security or foundation of your finances is the primary concern in building stable finances. The first step to do so is to make your emergency funds intact and accessible for you to conveniently take from it from time to time. Second is to have health coverage or health insurance. Due to the uncertainties in life, it’s best to have it fixed for we never know when we will be going to need it. Last is having life insurance in order to continuously sustain and have a comfortable life for you and your loved ones. (YM)
Application of Mindsets through Practical Routines
We do not wake up and then grasp these mindsets instantaneously. They are brought up by consistent efforts, growth, for they are processes themselves. Putting these learnings into application to have the right mindset will aid us to become more aware of our strengths and weaknesses.
○ Invest on yourself – One big step is personal development where one must allow himself to grow and believe in his own potential.
○ Be in a giving position all the time – Promoting the practice of giving tithes not because we will get something in exchange, but because it needs to be given back for other people.
○ Face the fears you have – We must eradicate the feeling of lacking whenever we give out, for there will always be enough for us to suffice our needs and wants.
“The sole purpose in life is not just to accumulate it for our own wants and needs but to accumulate it so we can overflow towards others who need it most. ”
The Power of Habits
○ There is a fear of lack or scarcity, but if we consistently do it, the habit will now come from our heart as you do it. Unconsciously, the fear will no longer be present along with giving being voluntarily done. (YM)
○ In doing it unfailingly, we can grasp the power of habits and how they change our lives. It always starts with one small step, and eventually creating a habit out of it, which builds into your character, and becomes your destiny, as Lao Tzu said. Moreover, you are more than the money you earn. Money is important, but it is not everything. We have to have a healthy relationship with money and use it in the right way. (JP)
From Episode 87 of Adulting with Joyce Pring: “THE POWER OF FINANCIAL HABITS FT. COACH YANI”
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Adulting With Joyce Pring is the How-To’s of your 20’s told by a 20-something, traversing through life expectantly and with gusto!
Episode summary by Chiara
Soli Deo Gloria!