Cash Confident with Brie Sodano
Welcome to Cash Confident an original podcast with Brie Sodano. Cash Confident is an empowering podcast created specifically for women who are ready to take charge of their financial lives. In this series, we delve into the fascinating world of money, providing you with a wealth of practical tips and invaluable insights to help you cultivate a powerful relationship with your finances.
Join host Brie Sodano, personal finance expert and founder of the Cash Confident Community each week as she equips you with the necessary tools and knowledge to confidently navigate the complexities of money management. But Cash Confident goes beyond just managing your money; it also delves into the realm of mindset and emotions, exploring the profound impact they have on our financial decisions. We explore how our beliefs, attitudes, and emotions shape our relationship with money, shedding light on the subconscious factors that influence our financial behaviors. By uncovering these hidden patterns, we empower you to develop a positive and transformative money mindset that will propel you towards financial abundance.
So join us on this exhilarating adventure as we embark on a quest for financial empowerment. Cash Confident is your trusted companion, guiding you through the twists and turns of personal finance, helping you unlock your true potential, and empowering you to live a life of abundance and financial freedom. Together, let's pave the way for a future where every woman can confidently conquer her financial goals and build the life she deserves.
Cash Confident with Brie Sodano
Wealth Identity & Money Mindset
Can your financial future be shaped by your mindset? Discover how your upbringing, social class, and personal experiences sculpt your wealth identity and influence your money mindset. In this episode, we analyze the differences between a money mindset and a growth mindset, guided by insights from renowned authors T Harv Eker, Amanda Francis, and Denise Duffield Thomas.
From the employee mindset craving financial stability to the dynamic entrepreneurial spirit, we emphasize the importance of aligning your financial goals with your authentic desires and aspirations. Learn practical steps to cultivate cash confidence and the crucial role of setting goals that resonate with your true self, while highlighting how internal conflicts can stymie progress and stressing the necessity of personal growth to fully relish your accomplishments.
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Welcome to the Cash Confident Podcast. I'm Brie Sedano, your fearless host, personal finance expert and the visionary behind the revolutionary Cash Confident community. Get ready to embark on an electrifying journey where we redefine the rules of money and empower women to harness the immense power to craft the life they truly, truly desire. This podcast is the ultimate resource, meticulously crafted, for women who are ready to unleash their financial prowess and embrace a life of abundant success. We leave no stone unturned as we delve into the depths of money management, mindset mastery and the undeniable influence of emotions on your financial decisions. Prepare to rise above the societal limitations and break free from the chains that have held you back, as we equip you with the tools and knowledge to make bold, confident choices with your cash. We believe that true financial power begins with knowledge, and that is exactly what we deliver. So buckle up, my fierce and ambitious friends, as we embark on this transformative journey to becoming cash confident together. Oh hello, hello everybody. Brisa Dano here coming to you for the Cash Confident Podcast, and today we are talking about wealth, identity and money mindset, and so my hope for today is to explain to you the difference between those two concepts and how they play together, and what to do if you are looking to really make big moves in your business, in your money, in your profession. However, all the ways to say that and, yeah, why wealth identity is one of the things that I really focus on when I'm working with my clients inside the Limitless Wealth Mastermind. So, all right.
Speaker 1:What I want to explain is that there are a few different aspects of ourselves that we need to have in alignment for things to be easy. Now, can we do things when these things are not in alignment? Yes, we can. And is it more hard? Absolutely, and this is when what I'm going to talk about is out of alignment. This is the place where we see a lot of walking in circles, trying to figure things out, getting in our own way, self-sabotaging, like just delays. If you've ever been in a situation where you're like, dude, if this was my client or if this was my customer, I'd be able to sort this thing out in a minute, and I seem to be. I seem to be looking at the same problem over and over again that I'm going to be talking to you.
Speaker 1:So, listen, we need our goals, like our financial goals, our desires, right To be in alignment with our wealth identity, and we need our money mindset to be in alignment with our wealth, identity and our goals. And then we need our money management to also be in alignment with those other three things. So, your goals what works best when you're setting your goals is that they are set on like the truth of what you truly desire, like the things that you really want, the stuff that is the truth of what makes you tick. And I do want to point out that desires and goals are a little bit different, because a desire is like the life force moving through you, the thing that, like Napoleon Hill, talks about a burning desire, the thing that you want so bad, the thing that, like you, wake up thinking about. And for many women that I've worked with, desires can be repressed, denied, rejected and just really not given any attention to, and that can really make for interesting goal setting. So, when your goals, this very like masculine, what I'm going to do, how I'm going to do it, the timeframe, the plan that goals is when we start to get these desires, we're constructing the mental reality to make these things happen right, these milestones and set points. And what's the word for smart goals? I don't know. I actually probably don't know all of the smart goals. Right, it's specific, measurable, attainable, time constrained. I don't know all of the SMART goals. Right, it's specific, measurable, attainable time constrained. I don't know the T or one of the letters. Okay, all right. So when our desires are leading our goals, that's the best place, because that means that our heart has been consulted when it comes to our mind. And I will also say can you have money goals that are not really in alignment with your desires and will they work? Yeah, sure you can. So we want to get that together.
Speaker 1:Then our wealth identity is about who we are being when it comes to this plan. Who we are being and I'm going to construct wealth identity it's more than just money. It's more than just about your investments or your cash flow or how much money you have in the bank or whatever else. It's really about who you are when you're being your best, because wealth is really about well-being. If you look at the etymology of the word wealth, it comes down to being so. This includes money, but it's more than that, and so wealth identity for most people is we're fully inherited. We construct some of our own wealth identity as we start to come into adulthood, but the social class that you grew up in plays into your wealth identity on a really big level. The struggles that you saw your parents do or not do plays into this. The way that you view money is a limit or not a limit, the way that you view life is friendly or unfriendly plays into your wealth identity, and so your wealth identity is about who you are going to be, who you are being, while you're the person creating this life for yourself.
Speaker 1:And this is the piece that most people never look at, and why this is unfortunate for most people is the whole point of doing anything. Achieving any goal is to feel, is to be was, to be a different version of ourselves, is to feel certain kinds of feelings, and so when we never get clarity on that level of who am I going to be, who am I becoming? What is my next level self, what am I growing into? Where am I stretching? Sometimes we achieve our goals and they just don't feel good because we actually didn't stretch into becoming anybody else. We're just the same person who's got a little bit more money or a little bit more customers, clients or a slightly better promotion, but we still feel the same and nothing makes us happy. So, crafting your wealth identity this is the piece that most people miss all together. Right, they're usually working on their mindset. They're working on their beliefs, and that's great, that's beautiful work and it's really important work to do beliefs and that's great, that's beautiful work and it's really important work to do. But when you put that identity piece in, that's really where your money mindset becomes super helpful. So money mindset is really about our relationship with money.
Speaker 1:Sometimes you can start to stretch your money mindset, but if you didn't stretch your wealth identity, things start to go awry because you start to be incongruent with yourself. So when I'm talking about the alignment between your goals right. So your desires, your goals, your identity, your money mindset and your money management when those things are all in alignment and they're incongruence, you're going to have such an easy time moving. But when your desire is over here, but your goals are over here and if you were not watching the video of this, if it's a podcast, I'm just saying they're not in alignment right. So if your desires don't match your goals and your wealth identity doesn't match your money mindset and your money management doesn't match your goals, this is where people have a lot of challenges getting beyond six figures, and in work or in business, it doesn't matter. So your money mindset should be in support of the goals that you have and should also be in support of that wealth identity.
Speaker 1:And I'm going to give you an example. So let's just say you want a real estate empire Great, you're probably going to have a very different view on how to use debt as a tool than if you were building a stock portfolio. And that's one of those money mindset things where people with a stock portfolio not always, but will generally steer away from debt a little bit more. And then people who are building a real estate portfolio are going to heavily use leverage as a big part of building that empire. And where this becomes really important is if you believe that using debt is wrong, bad, dangerous, you're going to have a real hard time with that. And if you believe that using debt is a tool, then that's fine. This is where money mindset starts to really play in, and I'm going to just give you one more story to ground this.
Speaker 1:So I was talking with a woman one day who she was a lady who was raised by two municipal employees Her mom was a teacher and I think her dad did maintenance in the town that they lived for, and so they both had steady jobs and those incomes were relatively fixed. Municipal workers are generally negotiated in a contract. You can't just go ask your boss for a raise. You have steps that you follow. So these two people who raised her were on a very set path where their income was very predictable and very reliable, and so they had a great money mindset for that situation. So they said live within your means, don't use credit card debt, pay your bills every month, make sure you save for retirement, make sure you have money for an emergency. And so this was all constructed. All of these money mindsets, all of these little belief structures were constructed to help for that reality. And listen, this lady calls me and she's got a great money mindset for that reality.
Speaker 1:Where the problem came is she borrowed money to buy a business. So she borrowed this money to buy a business, and what happened? Now she's up again. Now she's on the wrong side of her judgments about credit card or like around debt. Actually it wasn't credit card debt, so she's feeling really bad about the debt, and so what this does is it drives really interesting decision making. So, in order to try to get out of this debt. That listen, when I looked at her situation, I was like the debt that you have is appropriate for the amount of cashflow that the business is flowing. I would not be rushing to pay this debt off. This debt is planned for, it's fine. The business can continue to grow with this amount of debt. And so what she was doing was she was taking all the extra cash flow that the business actually needed to grow and to flourish and to be able to pay her, and she was putting it all towards the debt to get out of debt faster.
Speaker 1:But what this was doing was that now the business was not growing and she was not getting paid, and so now this money problem that she constructed based on these old opinions that her parents gave her is causing massive amounts of money, stress and tension in her life, because she upgraded her wealth identity. She went from an employee identity to a business owner mentality, but she didn't update her money mindset, and so her money mindset was then out of alignment with her goals and desires, and everything felt bad because she felt incongruent with who she was, and so the money management piece then followed that and it started to really make a mess. This is the perfect example of what I'm talking about, and so your wealth identity is always going to be moving right. We're going to go from people. I'll just use my own example.
Speaker 1:So I grew up somewhere in the middle class and I had an interesting upbringing around money, where my house often felt like poverty, even though I was well-educated and the priorities were just interesting, and so there was a lot of dissonance there for me, and so I had an employee mindset because I really craved financial stability. And then I didn't want that anymore and I actually went into sales. First I was a stockbroker. I sold stocks and bonds and that's part of my story, and that was one thing and then I started to own my own business, and so my wealth identity has upgraded several times and there's been aspects of that have also been upgraded along the way and so your wealth identity is always going to be shifting and changing as you grow and you expand. So none of what I'm talking about is static. It's not like a set it and forget it type thing. Your money mindset needs to be able to shift into change. So I'll just give you another example.
Speaker 1:When I first started, I was I took when I started working with this. I was working with my own money mindset and so I read T Harv Eker's work and Amanda Francis' work and Denise Duffield Thomas' work. I couldn't even tell you the amount of books that I've read on abundance and money mindset and how many thousands and thousands of dollars I've taken on courses. And what's cool about that is that I learned a lot of this from a lot of different angles. But what I also learned is that money mindset is really not the same thing as a growth and expansion mindset.
Speaker 1:Money mindset is about what's my relation? Do I hate money? Do I think money is the root of all evil? I let money set my boundaries for me. Am I afraid of money? Do I think that I'm going to lose my health, my happiness, my spouse if I have more money? These are common money mindset issues that people have with their money mindset. But what nobody's talking about that I've not that I've taken every single course out there, but I've taken a lot is the way that your money mindset has to attach to your wealth identity and that has to attach to your goals and desires, and then your money management also has to do that.
Speaker 1:And what I find when I work with my clients, I can see very easily when they're out of alignment with themselves, and then we can push them back into alignment in one way or another, and then this is where we start to see results happen really quickly, because this is where we're not fighting with ourselves. This is where we can start to really clean up that internal conflict that makes us feel like the thing that we want to do is so scary, or I actually feel bad if I do this, or can I charge more this internal dialogue. So, anyways, what I want you to take away from this is just I want you to start to think about the truth of what you want and then your goals, and do those things match up. Do your goals match up the truth of what you want, then your goals, and do those things match up. Do your goals match up the truth of what you want? And I'll tell you, there's a lot of disconnect for people there. I'll give you an example I had a actually it's a friend of mine, it's not even a client, it's just and she's still a friend.
Speaker 1:She wanted a real estate, she wanted to start investing in real estate and then she bought a course about something very unrelated to that as a way to make money. And I said you already have a job where you make money. What are you going to do this for? And she was like to make money. I was like you're already making money. I was like, just, you already have a client base, you already have a spot to work. You like, why would you start something, a whole skillset, a whole business, brand new, that energy should be going into the thing that you actually want.
Speaker 1:And she was like, oh yeah, and this is sometimes when we're afraid, we get in our own way and just that thing. And once that's sorted out, then you want to be looking at your wealth identity and then from there, you want to be looking at your money mindset and then we can put money management tech like literal, practical pay this debt off, don't pay this debt off, do this, don't do that in order to get those things in alignment. And this is something that so, when I work with clients, I'm looking at this holistically and it's one of the reasons why my clients make so much more money so very quickly is because when you're in alignment with yourself, it's one of those things that just moves. Like you, you'd be surprised at how much energy we waste, how much mental thought gets wasted and how really we can walk in a circle when we're out of alignment. And yeah, all right, I hope this was helpful for you.
Speaker 1:If you want to talk to me about working with me on your wealth identity, on your money mindset and making your goals and desires happen, go to the link that's in the show notes and there is a link to my calendar and you can book a call to talk to me about Limitless Wealth, if you choose. All right, I love you, I. If you choose, all right, I love you. I appreciate you and I will talk to you soon. It was my pleasure and joy to talk with you today. Thank you for listening.
Speaker 1:If you found value in our conversation, I kindly ask you to share the show with a friend who deserves to unleash her financial power. Your feedback is so, so valuable to me, so please take a moment to leave a review. Together. We can amplify the message and bring more money into the hands of good women For ongoing guidance and unwavering support on your financial journey. I invite you to join the Cash Confident community Visit wwwcashconfidentcom to become part of our powerful community of women where we uplift and inspire one another to reach new heights of financial success. Remember, you possess the power to shape your financial destiny and, with the Cash Confident podcast and the support of our remarkable community, you are unstoppable. Embrace your financial power, create the life you desire and let's ignite a movement of cash. Confident women who are transforming the world. One dollar, one decision at a time.
