Episode 1230: Money and Confidence

[00:00:00] Scott Maderer: Thanks for joining me on episode 1,230 of the Inspired Stewardship Podcast.

[00:00:07] Alan Thomas: I'm Alan Thomas. I challenge you to invest in yourself. Invest in others. Develop your influence and impact the world by using your time, your talents, and your treasures to live out your calling. Having the ability to recognize the decisions that you make around your weight is key, and one way to be inspired to do that is to listen to this The Inspired Stewardship Podcast with my good friends Scott

[00:00:35] Maderer.

[00:00:45] Scott Maderer: Safely go out and do things without panic, without too much worry. That's a much lower amount. And I would argue that a lot of times for a lot of high achievers and a lot of people that make really good money, the source [00:01:00] of that in part is a competence issue, a lack of confidence in the. Welcome and thank you for joining us on the Inspired Stewardship Podcast.

[00:01:11] If you truly desire to become the person who God wants you to be, then you must learn to use your time, your talent, and your treasures for your true calling. In the Inspired Stewardship Podcast, you will learn to invest in yourself, invest in others. And develop your influence so that you can impact the world

[00:01:38] in today's episode about developing your influence through stewarding your treasures. I talk with you about how there is a connection between confidence and money. I share how it's about having enough of each, but that doesn't always mean what you think it. And I also talk about some specific things that you need to focus on to have money confidence as we talk about [00:02:00] stewarding your treasures.

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[00:02:28] At first glance, you may think that the link between confidence is money is simply. The more money you have, the more confidence you have. But the truth is it's a little. Different than that. It, it, it's, we often have this feeling that, you know, to be able to, to feel safe, to be able to feel secure, to be able to feel like we're going to be able to retire.

[00:02:51] Well, our goal should be to pile up as much money as possible so that we can really have a great [00:03:00] spendy retire. One of the things that's happened with the, the fire movement is this mindset change to, wait a minute, maybe financial independence, which is what the fi and fire is, is about having, you know, a good, fun amount of money so that you can walk out of a job that perhaps you don't love with confidence and go do something else and never look back.

[00:03:26] It. It's almost more on the independence. Than it is on the retirement thought. And that's a really different mental picture because it's the difference between getting enough to feel confident and getting enough to feel no insecurities whatsoever. And there's a big difference between. Because mentally, I think oftentimes we think that the math of just living off our retirement, living off our investments, having so much money that [00:04:00] nothing ever bad can happen.

[00:04:02] The problem with that is there's really no amount of money where you achieve that feeling. I've worked with people that are worth millions and millions and millions and millions of dollars, both in terms of income, they make over a million dollars a year. And in terms of investments and savings, they're multimillionaires.

[00:04:24] And what's interesting is the security that they feel doesn't come from the money. If money is the source of their security, then they're. Drastically pursuing money in an unhealthy way. They, they begin to work too long, too hard. They begin to be like that person that just can't say no to anything because they're looking to overachieve rather than just achieve.

[00:04:53] They're no longer looking for what do I, what do I enjoy, what do I love? What are my passions, as well as what I can do to [00:05:00] feed my family? They're simply looking at it from the point of view of if more, if it makes more money, it must be better. They often have an unhealthy relationship with money, but I've also worked with millionaires who have a really healthy relationship with money, and I've worked with people who make much less, or have much less, that have that.

[00:05:20] Sort of relationship. See if you, let's say for instance, use the example of leaving your job, cuz it's sort of a, an example that for a lot of people, resonates this feeling of being in a cubicle job or a job that they hate, Something that they really don't love doing and trying to get enough money to kind of be able to leave.

[00:05:42] And if you think about it in terms of how much money would I need to have full confidence that I can leave this job and have everything work out perfectly, have no worries, have no stress, have no strain, have no concerns at all, and that [00:06:00] tends to be a really, really large amount of money. So with, if you want a great deal of confidence, you need to have a lot of money.

[00:06:11] If you need to feel that way and, and kind of conversely, if you were just gonna quit your job suddenly and go out on your own and maybe launch a business or start something new, and you wanted to do that with no savings, no source of income, and even no idea what you would do to bring in money before next month's rent, that requires an inordinate amount of confidence in yourself as.

[00:06:37] but in between those two, there's the idea of having enough confidence in yourself that you feel confident that you can leap with the amount of money that you have today, and odds are really good. That amount is a lot less than that incredibly large amount that you need to feel. Infinite confide. [00:07:00] And that's what allowed me to launch my own business.

[00:07:04] It's what allows many people to leave their job. And that's an example of how that money confidence factor. If we don't look at it as absolutes, if we don't look at it as the extremes, if we don't say, How much money do I have to have to have infinite confidence, but instead look at it as what's the level of money that allows us to have the confidence in ourselves that we.

[00:07:28] Safely go out and do things without panic, without too much worry. That's a much lower amount. And I would argue that a lot of times for a lot of high achievers and a lot of people that make really good money, the source of that in part is a confidence issue, a lack of confidence in themselves. Because they might do something different if they had more confidence in themselves.

[00:07:52] So here's a few tips, a few things that you need to think about and see if you really believe these. These have a lot [00:08:00] to do with your confidence around money. The first one, I will always be able to get a job if I need one. Do you truly believe that if push came to shove, could you go out today and just get a job?

[00:08:11] That makes a little bit of. Uh, enough to at least kind of keep the lights on and keep food on the table. Recognize that there are billions of people out there living on far less than you make. I almost guarantee it, no matter how much you make, unless you make zero. And even then there's billions of people that are living on the same thing that you are.

[00:08:34] And yet many of those people who make less, who live with less, who have a less fancy house, a less fancy car, and all of those things are also happier than. Why is that? It's because they're not directly related and recognize that you are in control of your own responses. You are not in control of what happens to you in all cases, but you can control your [00:09:00] responses to those things.

[00:09:01] You're also in control of the cost of living to a very large extent. Everything you do is a decision and you have more control than you. and that includes your ability to learn new things, new skills, new choices, new opportunities can come along because you have the ability to learn and adapt and grow.

[00:09:24] You also can recognize that your kids and others around you will be okay, that you don't have to give them everything that they want. so that they will be perfect and their life will be perfect. That even if you just take care of yourself, that's more than enough if you're also giving them love and support.

[00:09:45] Similarly, things like travel or where you live are things that you have control over as well. You can both move and say where you're at and still be. You can find new friends and make new relationships no matter [00:10:00] what choices you make. Recognize that the real goal before you is one of happiness and contentment, not just more money, and it's something that we all can achieve.

[00:10:13] And when you believe those things, then you can have confidence around your money. Thanks for listening.

[00:10:26] Thanks so much for listening to the Inspired Stewardship Podcast. As a subscriber and listener, we challenge you to not just sit back and passively listen, but act on what you've heard and find a way to live your calling. If you like this episode on the Stewardship of Treasures, you can sign up for our treasures tips by going to.

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