#35: Build Financial Resilience in 7 Simple Steps!
Sep 20, 2023Season 1Episode 35
Nadine Zumot
Welcome back my friends!
In this week's episode, we will talk about how building financial resilience can be simple and even fun!
Join me today as I teach you my personal method that kept me financially sane even throughout the most messy, uncertain times of my life.
Life is uncertain, and money ebbs and flows.
But your sanity and well-being don't have to!
In this episode, I will teach you how to:
1- Create a flexible structure, not a rigid budget. 2- Create a contingency plan, not just an emergency fund, 3-Be on top of your quarterly financial snapshot. ... and other fundamental steps in establishing resiliency when it comes to money
In this week's episode, we will talk about how building financial resilience can be simple and even fun!
Join me today as I teach you my personal method that kept me financially sane even throughout the most messy, uncertain times of my life.
Life is uncertain, and money ebbs and flows.
But your sanity and well-being don't have to!
In this episode, I will teach you how to:
1- Create a flexible structure, not a rigid budget. 2- Create a contingency plan, not just an emergency fund, 3-Be on top of your quarterly financial snapshot. ... and other fundamental steps in establishing resiliency when it comes to money
Hello, hello and welcome back to the Money Healing Podcast. So I'm actually recording this on a Sunday because we just got back from a really invigorating little holiday little vacation, as you say here in the US, up in the north of New Mexico, and we both got here well, the three of us, because of course RB was with us. We all got here pretty relaxed and invigorated and quite inspired. So my husband kicked me out of the recording studio because he got inspired to record a song and I am really inspired to record this for you. So, of course, when you're relaxed and when you're open, all the inspiration hits you. So I had no intention of doing much of anything on this little getaway, but, wow, it just goes to show how everything you've always wanted is whirling around you and as soon as you relax and open up to receive, it just comes at you. So well, I was relaxing. I was literally, literally, literally. Sometimes I sound like I don't know, american, australian, I have no idea. Anyway, well, I was literally sitting on a bed and looking at the sweeping views of the desert. My business was creating money. I got payment notifications while I just sat there and I wrote. I love writing, so I wrote and I journaled, and my little journal, and also my yellow legal pad, is now flooded with such deep insights and lessons on for myself, for my own spiritual practice and my personal life, and also for insights for my private clients and for my business in general. And I also downloaded all these like lessons for the ladies in create fulfilling abundance, which is my program. So I did all that without even trying, honestly, and I also want to say here that it really feels amazing to be grounded and if you're new here, welcome.
Speaker 1:
And if you don't know, my family and I we moved across from Albuquerque to Melbourne in 2021, right in the middle of the pandemic and 17 months later we decided to move back to Albuquerque due to personal and business opportunities. We spent about 160,000 USD on this little maneuver and luckily and I'm really grateful we were able to pay all of this in cash without needing to use debt. And now, even though we are financially and emotionally recovering, we only got back here in March, so this is August. Oh sorry, this is September. Even though we're recovering financially and emotionally, we are still able to go on monthly vacations and getaways and stay in these amazing places to relax, to refill, to open up to inspiration and to enjoy life, and we are able to do this because we built financial resilience, and building financial resilience is not that hard or complicated. You really do not need a complex budget or a financial strategy to create financial resilience. You don't have to restrict the living hell out of you, you don't need to contort yourself or do things that are soul-sucking just to have financial resilience. It really is very simple, and this is why I'm so excited to jump on the mic and record this episode for you, because I want to show you how simple it is, how you can start doing it now and how it's actually really awesome, and I want that for you and I'm very excited. So let's get cracking, all right.
Speaker 1:
All right, welcome back to the Money Healing Podcast. Here's the truth. Life happens, money ebbs and flows. It is in the nature of money to ebb and flow, but your sense of well-being does not need to ebb and flow and fluctuate as money ebbs and flows. So how do you create solid yet flexible financial structures so you can accommodate for the natural ebbs and flows of life without compromising your sanity or your peace of mind, and how can you confidently create change and transition in your life when things no longer align, without creating a financial catastrophe. Well, I'm about to tell you. So the first thing is, I would like to tell you that you will need to create a flexible financial structure, not a rigid budget. Having rigid budgets is actually a recipe for financial catastrophe, because when we are rigid, we are creating binge and restrict cycles in our spending. When we have a rigid budget, when things are inflexible, when we have set numbers, we don't accommodate for the ebbs and flows of life.
Speaker 1:
I like to teach my students what I call the bucket system. My students love it and one of my very rebellious students even said, and I quote holy shit, these buckets are so fun and empowering, and even liberating Money can be fun. So to start creating the bucket system for yourself, I would research it. I didn't invent the system. It's all over the internet. I read about it 20 years ago and I've been using it. So the way I teach it is very simple, but you can definitely find out more about it through research.
Speaker 1:
The second step to creating financial resilience is to create a contingency plan, not just an emergency fund, but also work on fattening your emergency fund. Usually, they say three to six months worth of savings for an emergency fund, but what I would say is that you need to create a contingency plan. So when, if it hits the fan, for example, there are certain expenses, there are certain expenses that are just going to go out the window, so you don't necessarily need literally haha, that word again three to six months worth of savings, because you need a plan for when things go wrong or when things go a little bit, you know, when things get sticky. This is the plan that we follow and when we follow this plan, this is what our expenses are going to look like. So when we are in a state of, you know, uncertainty maybe we're stressed that is not the best time to create a plan, because you're stressed, you cannot think straight. So when you create this contingency plan and when you start planning for your emergency fund, start doing that when things are good okay, no one wants to think of disasters or emergencies when things are good. But set time aside and do that knowing that it's not that you're creating an emergency plan, it's more like you're creating a well-being plan. Okay, words really matter.
Speaker 1:
The third step would be something that I spoke about in episode 23 of this podcast, and it's called Creating a Quarterly Financial Snapshot. So being on top of your quarterly financial snapshot is going to be amazing in showing your nervous system that you are actually the source of your money, not your clients, not your boss, not your employer, not your whatever, not the algorithm, because that is important to know, because we're dealing with two like two U's here. There's the U that is your conscious mind, and then the U that is your subconscious and your nervous system. The limbic system is all in the subconscious. So when you consciously know things, your subconscious doesn't necessarily know what your conscious mind knows, because there are two separate systems. So when you create systems and you show yourself through showing your subconscious, that you have these systems in place and that you are the creator of money in your life, your nervous system will no longer, slowly, with time, be reactive to any fluctuations when it comes to finances because, remember, your nervous system is there to help you survive.
Speaker 1:
The fifth step is developing your skills and creating fun, multiple sources of income whenever you can. This is not about just like monetizing your hobbies and making your hobbies to be about money. It's not about that. It's about thinking how you can share your gifts with the world, how your gifts can be used in service of others. It doesn't necessarily mean like in helping them develop spiritually or emotionally. It can be like entertaining others or creating beauty in their homes or spreading joy and happiness. So that is a very nice thing to do, like just creating multiple sources of income and also deepening your what's it called like your expertise. So I mean it's competitive out there, and the more you deepen your knowledge in your area of expertise, the more you become niched. And the more you become niche, the more you'll be able to create more abundance and create more impact. And that is the most important thing is that your abundance becomes a byproduct of the impact that you're creating. So the more experience you become, the more impactful you become, and then money follows. The sixth thing is networking. Surround yourself with like-minded people and be open to opportunities. Make friends, collaborate with them. Go to networking events that turn you on nothing boring and talk to people. Just do things that connect you with others, because connection is a solid source of abundance.
Speaker 1:
The seventh thing I would say is understand your self-sabotaging tendencies from a trauma-informed perspective. What I mean by that is understand that your self-sabotaging tendencies are not because you are broken, and you do that by looking at your life holistically. We do that a lot inside of my programs, whether with my private clients or inside of create fulfilling abundance. We look at our lives holistically so that we can see how our self-sabotaging tendencies with money and even other things they make sense. We're not creating excuses. We are just making sure that we know that we're not crazy and that, given all our life circumstances, of course we're going to behave the way we behave with money. Okay. So looking at your life as a whole and trying to understand why you do what you do with money and how once upon a time it made sense to do that and maybe now it doesn't make sense anymore. But we need to understand that so that we can heal our money wounds from the roots.
Speaker 1:
Okay, but here's the thing a lot of people come to me when they're in financial dire straits and trying to heal these money wounds. They're already activated. So what we do? We end up spending the first month of our time together just trying to get them to a calm base level of nervous system so that we can then go and heal their money wounds. So don't wait until you are in financial difficulty to heal your money wounds.
Speaker 1:
Yes, your financial difficulty could be a result of your money wounds not always, but sometimes they are. However, when you're in financial difficulty, when you're in a critical situation, it's very hard to think expansively and think creatively and we are kind of like what's it called, like sorting out the actual problem, the here and the now, and it gets difficult to go backwards in our looking at our past. I mean from a place of openness, because we have to have this openness and compassion, and when you're activated, you don't have that. Okay, so please start looking at your money wounds when you are not in financial drama. Let's just put it that way. Your financial behaviors they stem from your beliefs around money. Those beliefs sprout out of your unhealed money wounds.
Speaker 1:
When shit hits the fan with money, when things get difficult or tight or when there is any uncertainty that can impact your finances, your beliefs about money will flare up, creating a downward spiral of erratic behavior that can put you into further financial hardship, even though they are well intended. And here's the thing healing them and navigating them while you're under that stress is a bad idea. I said that before. I'm going to keep saying it, because it's very important to understand that when you are under stress, you are reactive, you do not think logically, you do not think compassionately and you you like. It won't be a very effective healing journey. It will be once you, you know, once you get to a place where you're not that activated but we need to. You know, if you're in a place where you're like I know, I have money wounds and I'm not like in trouble, this is a very good time to start looking at them, because when the shit hits the fan is not a very good time. But even if you end up reaching out or starting to look at your money wounds when shit hits the fan, just know that it is doable. However, it will take longer, okay. So again, working on them while things are calm is the best way to go. Wait until they are raging and angry and actually sabotaging you to do something about them, because they're the loudest and when they're the loudest they're the most difficult to to calm down and look at. And no shame, we all have money wounds. Act on healing them when things are nice and calm, not when shit hits the fan.
Speaker 1:
Working on your money wounds before they are fully activated is a fundamental step in establishing emotional resiliency, because most of our financial decisions are driven from our emotions and from our emotional needs. When we operate from a solid foundation and from emotional balance and emotional mastery, you will be able to act more logically when things get tough and when you are faced by sticky financial situations. So what do I mean by emotional mastery? I don't mean that you're going to become this strict, stoic person that has no emotions. I don't mean that at all. Emotional.
Speaker 1:
Developing emotional mastery includes understanding how your past is still impacting your finances and your money beliefs here now, today. Understanding and navigating your nervous system is a very important step in developing emotional mastery, which will also lead to financial resilience. So, in understanding your nervous system, educating yourself on your nervous system, understanding how your self-subotaging money behaviors are actually a nervous system response, and also healing your money wounds and creating financial structures that are intuitive and not restrictive. And, of course, you will need to learn with time how to become more open to manifesting and creating abundance in open and easeful ways. Because when we have that trust that we are, when we have confidence in our ability to create abundance, we have this. You know it's like a balance between having the practical and the spiritual sides of money. You know, having intuitive and not restrictive financial structures is very important and it has to be balanced with your confidence in creating abundance and in manifestation. So these two are going to create a really nice foundation of financial resilience for you when mastered, and it will take time, you all okay. So this is exactly how I've established financial resilience. This is how I teach my clients to do it. And here's the thing you cannot control the outside world. It's actually out of our control, really, quite literally that word again. But what we can do is master our inside world and lead from a place of, you know, emotional mastery, not reactivity, or from a place of creativity, not reactivity, and by becoming financially mature, we can lead ourselves with compassion and strength and also resilience. And one last thing before I go Money can feel scary to move too many of us, to most of us, because we have a layer of money shame.
Speaker 1:
You can start dissolving your money shame by talking about your relationship with money with a trusted partner or a friend, someone that makes you feel safe. So by starting to talk about your relationship with money, you will start dissolving that layer of shame. You can do that by perhaps asking your friend or your partner. If you can have monthly money dates that you schedule in at the end of the month or the beginning of the month, middle of the month, whenever works and start getting together to discuss your money story, discuss your money beliefs, discuss what your favorite thing with money to do is, discuss your goals, like just having an open conversation in a safe environment about money is actually very healing.
Speaker 1:
And feel free to use this podcast as a resource for talking points. For example, you can open up money conversations through things that were mentioned on this podcast and also reach out if you have questions and I can create episodes based on what you're asking me. So please start removing that layer of money shame. And, of course, I'm here for you if you would like to deepen your financial practice and create soul aligned financial plans inside a supportive and loving community of seriously some kick-ass woman, led by me, yours truly, nadine Consider joining my program CFA. Cfa is called is actually like short for create fulfilling abundance, where you are going to learn how to create abundance the ease, full way using my money healing blueprint. So if you're interested, just scroll down the show notes to get on the waitlist. With that, I love you and leave you until next time. Ciao for now.
