106: Money Practice for Financial Stability


Welcome friends to Episode #106 of the Own Your Best Life Podcast. Financial stability is often what we desire when we start to feel insecure about our money situation. It’s also the basis of taking risks and developing a sense of self-worth. What if we thought about financial stability as a construct of our mind instead of as hard numbers? How would our life change as a result of thinking about financial freedom and money differently? In today’s podcast, we’re going to put our minds to work reshaping our definition of financial success and questioning everything we’ve been taught.

The other day I was thinking about how the simplest moments in life are often where I feel the most depth of emotion. Simple moments don’t always mean the most pleasurable though. They can be the times where we feel the most challenged, but we have the grit and fortitude to know that we can manage through these tough situations.

While we all have negative thoughts and fear that float through our brains, I’ve noticed that I also have a really strong sense of seeing the world through a lens of opportunity, gratitude and appreciation. This is a muscle I’ve built the same way I built my physical health. As a result, when I feel in pain or am struggling to let go of something I know doesn’t serve me, I become curious.

Money is no exception. I believe I have more than enough and every once in a while, when I don’t feel that way – I question why I feel that way. I think about all the times I don’t feel that lack and scarcity and identified a money practice that keeps me in feelings of sufficiency. This money practice can help you when you’re starting to feel scarcity around money, worry and overwhelm.

Money scarcity is a topic that has driven many people to succeed and if we don’t manage our own minds around money, it will drive us into stress, burnout and overwhelm as well. When that happens, we either hide from money and think it doesn’t matter or we focus on it as the most important thing in life. Neither is a winning strategy, yet we’re not taught how to think about money in a way that serves us.

The practice is something I teach my clients. It’s seeing money as neutral. It’s seeing finances as just a number and numbers that don’t mean anything except that in a specific situation, you might need more or less of this thing called money to pay for this other thing. It has zero to do with you and your innate worth, and more to do with your behaviors and actions. It sounds easy, but requires mental fortitude to master.

The other day I was teaching my girls about money. My daughter was really concerned about spending a gift card she had and I was curious about why we kept entering the store at her request, and she kept leaving without anything. It wasn’t like a joyous experience of luxuriating in the ability to spend the gift card money, either. I could tell that she was worrying about something and having indecision the whole time. I began to probe after the 2nd or third time we went into the same store. I asked her what she was thinking. What I realized was that at the root of it was the belief that there wasn’t more where that money came from. “If I spend it, I won’t have any more left.” Oof.

This may seem like a childish thought, but it is not. 

Many of us feel that there is no more money after you spend it. We worry that because we don’t have money right now – that we will never have money. We assume that because we do have money – that we will always have money. Neither is right or wrong – but what is interesting is the decisions we make when we believe either one of these things as an absolute.

What my daughter was looking for in that store in order to spend her money was the feeling of financial stability. That there was more. I explained to her that there’s lots of money in the world. I showed her how when people help solve problems for others or add something valuable into other people’s lives – they pay them. What’s something that she could add value to immediately? Her family. We told her that she could earn money by doing the laundry and that she could think of some other ideas as well if she wanted to make even more money. There are so many ways to help. There are so many things she could do. It wasn’t that hard. In fact, it was easier than she believed. 

Immediately, I saw her shoulders relax. I saw a smile appear. I saw the new thinking and beliefs that were settling into her brain, informing the way she would see the world if not in the future then at least for right now. The next time we went into the store, she found something she wanted and spent the money. Nothing changed but her beliefs. Then she went on to make even more money from a feeling of empowerment and knowing how to turn on and off this act of making money. She and her sister teamed up and did lots of laundry and other household chores. Now, when she has something she wants she says things like, “I know what I can do to earn the money.”

My daughter isn’t alone in this way. If I were to explain to you exactly what I knew and thought about in regard to money – you might have the same reaction. A sense of inner peace, relaxation, abundance and intelligence about how to create financial stability.

It is possible to create financial stability – not from the numbers in our bank account, but by something even more powerful than that. Ourselves. Our creativity. Our pragmatism. Our risks. Our investments. Our own sense of freedom and security.

What it requires though, is a clean mind. Clean decision-making. Clean thoughts and energy around money that will help you feel more comfortable with money so you can invest, spend and make money wisely.

This is what I teach. Money is neutral. How much you have has nothing to do with you and everything to do with your thoughts about money. The best part is that your thoughts about money are changeable. 

I love teaching on money because it’s been a topic where I’ve experienced massive growth myself. You might feel like you can’t change your thoughts about money to feel financial stability but what I want you to consider this. What if I told you you had millions of dollars coming your way tomorrow? How would you feel today, regardless of the amount you have in your accounts right now?

Nothing changed except your belief and your thoughts – and you felt differently.

Financial stability is a product of mental resilience. Of this practice of seeing money as neutral and knowing the levers to move money to work in your favor. This kind of resilience is created when you can see numbers in the red (meaning there is debt) and numbers in the black (meaning there is leftover or profit after expenses) and you don’t swing on that emotional high and low based upon that number.

I am working with my clients on that kind of mental strength and toughness. You need that to turn businesses around. You need that for massive growth. You need that to contribute money to the causes you value and the philosophies you live by. You need that to turn your own financial problems into successes. You need that to enjoy the fruits of your labor so that you live a high quality life, not just a life with bigger numbers in your bank account.

Is it time to reinvent your life? Do you want to figure out what’s next?

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