In the spring of 2016, I decided to start a podcast because I knew they were popular in the online and finance business space. I also thought it would be a lot of fun.
Two months into my project, I started receiving requests from different financial experts asking to be guests on the show. Now, I’ve interviewed more than 20 guests—and I’ve noticed some patterns as it pertains to managing money successfully.
Here are four of the most important money lessons I’ve learned from my guests.
1. Faith Plays A Major Role In Finances
Just about every guest I’ve interviewed has credited their success with finances to something bigger than themselves.
I’ve interviewed Buddhists, Christians, and people who consider themselves to be simply spiritual, and every single one of them has mentioned how having faith has helped them with their finances.
For me, “faith” doesn’t necessarily equal religion. But I’ve realized that it means trusting yourself to make the right decisions. I needed to have faith in myself to take risks like starting a business, asking for a raise, and investing money.
2. Money And Emotions Go Hand In Hand
One of my most popular podcast episodes is with Melanie Lockert of Dear Debt. During her episode, she shared how she was able to pay off $81,000 in student loan debt.
What really struck me about her interview is how open she was about the role of money in her mental health. Depression and anxiety are extremely common when we think of our financial situations, and our emotions play a major role in how we behave with money.
When I first started my financial journey, I let my emotions take over because I didn’t realize how emotional money actually was. For example, I’d spend my money because I was stressed at my job.
My guests have taught me techniques to help me determine whether I’m making financial decisions based on emotion or logic. Whether it’s meditating or gratitude lists, it all makes a difference in helping you stabilize your emotions.
3. Money Doesn’t Need To Destroy A Relationship
They say money issues are a common reason for divorce, but I’ve interviewed plenty of guests whose marriages have withstood major financial problems.
One such guest is Lauren Greutman, author of “The Recovering Spender.” She got herself into over $50,000 of consumer debt and hid it from her husband.
One day, she finally mustered up the courage to tell him and start fixing her financial life. Rather than asking for a divorce, her husband was on her team and they worked together to pay off the debt. Their marriage is now stronger than ever.
As I date, I now know that we need to have financial conversations early on. While money won’t necessarily break a relationship, it is important to get on the same page from the beginning.
4. There’s Always A Solution
The main lesson I’ve learned is there’s always a solution to every problem if you look for it. The solutions may not appear out of thin air, but they are often in plain sight. For example, I would complain about not earning enough income when the solution was as simple as just asking for more money. The solutions do take some work, but the rewards are worth it.
Do you listen to financial podcasts? What lessons have you learned? Sign up or log in with your Salt account to share in the comments.