Join us today for an episode about the need to understand what it really means to make the most of your money...
Today's episode is focused on why understanding your behavior and mindset is more important than math...
In today’s episode about investing in yourself through stewarding your treasures, I talk with you about why when you search this you’ll find a bunch of get rich quick or maximize savings and investing posts. I share why those are important but self-awareness of the money is more important. I also talk about why awareness is the key to long term success.
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Episode 940: Making the Most of Your Money
[00:00:00] Scott Maderer: Thanks for joining me on episode 940 of the inspired stewardship podcast.
[00:00:07] Braden Douglas: I'm Braden Douglas. I challenge you to invest in yourself, invest in others, develop your influence and impact the world by using your time, your talent and your treasures to live out. Your calling. Having the ability to lead with impact is key.
[00:00:23] And one way to be inspired to do that is to listen to this, the inspired stewardship podcast with my friend, Scott.
[00:00:31] Scott Maderer: being aware of your behavior, being aware of your relationship and your attitudes around money is so much more important than just the math, but we use the math to help us become aware of those things. The math becomes the limit. That you look at things, it becomes the data that helps you uncover the rest of the story.
[00:00:55] Welcome. And thank you for joining us on the inspired stewardship podcast. [00:01:00] If you truly desire to become the person who God wants you to. Then you must learn to use your time, your talent and your treasures for your true calling in the inspired stewardship podcast. We'll learn to invest in yourself, invest in others and develop your influence so that you can impact the world.
[00:01:21] In today's episode about investing in yourself through stewarding your treasures. I talk with you about why when you serve. That term, you'll find a bunch of get rich quick or maximize your savings and investing kinds of posts. I share why those are actually important, but self-awareness of the money and your behavior around it is even more important.
[00:01:44] And I also talk about why. Awareness is the key to long-term success. As we talk about stewarding your treasures, wouldn't it be great. If you could support this podcast and do it without costing yourself an extra dime. It [00:02:00] turns out you can. All you have to do is use inspired stewardship.com/amazon. When you're ready to make a purchase via Amazon and a small commission, we'll come back to support the show.
[00:02:13] If you enjoy the show, when you're ready to buy from Amazon, just use inspired stewardship.com/amazon. Yeah. If you search the phrase, making the most of your money or making the most out of your money, what you're going to find is literally hundreds and hundreds of posts about get rich. Quick schemes are about maximizing your savings.
[00:02:34] You'll find posts about investing. You find all of these posts about how to do the math of maximizing and making the most of your time. And, all of those things are important. There's nothing wrong with finding ways to increase your income. There's nothing wrong with finding ways to cut your expenses.
[00:02:52] There's nothing wrong with doing something smart with the in-between. We all know that we should do that. Those are things that we [00:03:00] all understand is smart. We all know that maximizing doing smart things with the difference between our income and our outgo is the way to maximize and make the most out of our.
[00:03:12] But the problem is that we all know that, but very few of us do it. And the truth is the reason why so many of us don't end up actually executing on the things that are common sense. And we all know are right, is because we don't have any real understanding of ourselves and our behaviors and our attitudes around them.
[00:03:38] The truth is being self aware about how you view money, how you treat money and how you act around money is way more important than the math. Because without the understanding, without the self-awareness, you'll never make changes in the math. You'll never actually do the behaviors that, you should.
[00:03:59] This is [00:04:00] why it's so often about finding what is your, why? What is your reason? People will say things like I want to get out of debt. That's not a why. People will say things like I want to retire with a million dollars. That's not a why that's a goal. Why do you want to get out of debt? Why do you want to have a million dollars in the bank?
[00:04:20] What is it about these things that gets your juices flowing and gets your attitude going up and makes you excited and ready to get out of bed every day and hit the ground running and go do what you need to do. The truth is those are the real emotional reasons that people do make the most of their money, because otherwise you end up just not doing it.
[00:04:47] You end up just not acting on it. You know what you should do, but you don't do it. And you end up making three steps forward and seven steps backwards over and over again. This [00:05:00] is why, when I'm working with clients, we spend so much time talking about behavior, attitude, emotion, the why behind things, because the truth is long-term success is built out of this.
[00:05:12] Self-awareness, people talk about doing a budget and that's the secret to maximizing your. And don't get me wrong. I love budgets and I want people to do them, but it's not because of having the numbers on a piece of paper. It's because those numbers represent things. And if you don't spend time looking at it and thinking about what is the meaning behind the numbers, then you never make changes in your life.
[00:05:35] And the numbers is just a matter of writing numbers down. You end up writing down what happened instead of you happening to it. The truth is that this self-awareness starts. By actually collecting the information and the data, but the real work happens around figuring out why it's happening the way it is.
[00:05:56] And what do I need to understand about myself [00:06:00] and others to be able to make changes that get me moving towards where I want to go. Oftentimes people don't even know where they want to go. Again, they have a goal get out of debt, retire with a million dollars, but they don't really know the emotional underpinnings that come from that.
[00:06:16] What is it about those things that is driving them often? We just have the goal that someone else tells us as an important goal. You hear someone talking about, get out of debt and you say, that's what I should do, but if you don't actually understand the why behind it, it doesn't mean. This is why I know so many people that have gotten out of debt three or four times, because they haven't ever really identified the big reason behind it.
[00:06:42] And because of that, it just becomes something that they check off on a piece of paper, say they've done it and then go right back to living the way they were before that got them into debt in the first place. Being aware of your behavior, being aware of your relationship and your attitudes [00:07:00] around money is so much more important than just the math, but we use the math to help us become aware of those things.
[00:07:09] The math becomes the lens that you look at things, it becomes the data that helps you uncover the rest of the story. But most of us don't actually even look at it. I will tell you that most people have no earthly idea how much they spent last month or the month before on anything from food to Amazon, to whatever.
[00:07:29] Instead they just go through life spending and doing and letting life happen to them. Instead of them happening to life, their money just shows up and goes out and only the names are changed in between. It's so much better to be active. In your life to be active in your money, to be able to see what's happening and make sure it's in alignment with what you really want out of life.
[00:07:55] Thanks for listening.
[00:07:57] thanks so much for listening to the inspired [00:08:00] stewardship podcast. As a subscriber and listener, we challenge you to not just sit back and passively live. But act on what you've heard and find a way to live your calling. If you liked this episode on the stewardship of treasures, you can sign up for our treasures tips by going to.
[00:08:23] Inspired stewardship.com/treasures or text in the U S 4 4 2 2 2 treasures tips. And we'll send you five weeks of our best tips on stewarding your treasures until next time investor. Your talent and your treasures develop your influence and impact the world.
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In today's episode, I talk with you about:
Happiness is not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort. - Franklin D. Roosevelt
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