025 | Mamma Always Said | Our Money Personalities & Journeys
Show Summary:
In today’s show, we discuss what we learned about money as kids and how that has shaped our money journeys.
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Intro:
Its been raining for 3 days at the time we start the show. It has ruined memorial day weekend for all of us. The good news is that we got a chance to podcast today since all of our plans have been canceled.
Win/Fail:
In our win/fail segment:
The team celebrates a TEAM win of achieving 2000+ downloads!
Peter celebrated his 20th anniversary with his wife. He had a great weekend with just his wife. WIN.
Gary recalls being called out by a patient for not going to the doctor yet. He immediately scheduled the visit and lab work. Gary is thankful for the patient and the show for holding us accountable. WIN.
Sarah talks about canceling numerous subscriptions that she no longer uses. WIN.
Main Discussion:
Next, we dive into our topic of the day, “My Mamma Always Said! | Our Money Personalities & Journeys”
We start the show by talking about the 7 money personalities as listed by Ken Honda. Each pod member identifies as one of the seven. Gary and Peter identify as Compulsive Savers and Sarah is a Saver/Splurger.
We then move on to discuss what we learned as kids about money as it pertains to money, saving, spending, investing, budgeting, and more. Each team member recalls how money made them feel when they were kids and what money was like in their homes growing up.
Following our childhood stories, we talk about what our personalities are now, how they have evolved, and what we still need to improve going forward. Gary and Peter were spenders when they were younger and morphed over time into savers. Sarah has recently started making some changes towards being more of a saver and less of a spender. Gary and Pete talk about many mistakes they made when they were younger. Hopefully, Sarah avoids these same mistakes!
Lastly, we talk about how money makes us feel. Sarah feels stress around money but feels like she is making progress with learning more about money. Peter attempts to be indifferent to money by automating as much as he can. Gary is working hard to let some of his money go and worry less about spending.
Action Item:
Sit down and think about your money journey to this point and are you happy where you are? If not, make some changes. Gary suggests finding a money mentor and getting better educated around money.
Fan Feedback:
- A comment from episode 004, “Peter is on Roidz.” A fan talks about their own positive results from doing HRT.
Key Topics:
- Money Personalities
- Scarcity
- Saving
- Budgeting
- Investing
- Money Lessons
- Automation
Resources Mentioned In This Episode:
- Happy Money, Ken Honda
- The Psychology of Money, Morgan Housel
Next Show:
What Is Now (W.I.N.) | June 24, 2021 |
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Thanks for listening!