116. Mastering Your Money Mindset with The Good Life Money Coach

Do you think achieving success in one aspect of your life should guarantee success in others? How do your perceptions of money influence different areas of your life, such as your career and relationships?

In this episode of the Power, Purpose, & Prosperity Podcast, Sabine speaks with Barbara Welch about the importance of financial literacy, overcoming challenges, and embracing gratitude on the journey to financial empowerment. Barbara is the co-founder and Managing Director of Inheritance Development LLC, a firm offering business and personal finance coaching & consulting under the brand "The Good Life Money Coach

Listen in as we dive into the world of financial success for women, addressing common misconceptions and offering practical insights to creating “the good life.”

Key Takeaways:

• The positive impact of the current economic conditions in driving women to start and grow businesses. 
• How to address financial fears and misconceptions and develop a healthy relationship with money. 
• The impact of confidence and avoiding comparison on achieving financial goals and overall success. 
• The difference between having the desire for wealth and embodying a growth mindset/taking actionable steps.
• How to build resilience, change your mindset, and overcome financial difficulties through gratitude.

What You Will Learn in This Episode: 

• [02:18] Barbara’s career journey, from her start in banking to her entrepreneurial ventures and founding her current firm.
• [07:11] The trends in women starting businesses and the impact of current economic conditions on financial planning.
• [10:06] The common financial pitfalls for women and the importance of women developing a healthy relationship with money.
• [13:11] Understanding the concept of holistic wealth – integrating mental, emotional, and spiritual health alongside financial success. 
• [17:46] The power of doing self-work and self-examination to break cycles of financial fear and worthiness issues.
• [21:49] Barbara on the characteristics and behaviors of women who excel in financial management and wealth building.
• [27:10] Understanding the role of a growth mindset and the difference between desiring wealth and embodying a growth mindset. 

Connect with Barbara: 

• Website: thegoodlifemoneycoach.com
• LinkedIn: https://www.linkedin.com/in/barbara-welch-brooks-m-s-36b45211

Book Recommendations:

• The Good Life Money Mindset: 8 Principles For Living The Good Life Now

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HOST INFO:

Sabine Gedeon is a transformative figure in leadership and personal development and serves as the CEO of Gedeon Enterprises. With nearly two decades of experience, she guides clients in startups and Fortune 500 companies. Sabine's unique approach combines human-centered principles with tech-enabled solutions, delivering customized programs for leaders at all levels to tackle crucial leadership and talent development challenges.

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ADDITIONAL SUPPORT:

Download Free Resources - https://sabinegedeon/gifts
Get Coaching Support: https://meetwithsabine.as.me/Discovery

Transcript

0:00

Are you tired of playing small and ready to step confidently into your greatness and share your unique brilliance with the world? Well, you're in the right place. I'm your host, Sabine Gideon, and I've dedicated nearly two decades empowering individuals and leaders as they confidently navigate the twists and turns of life and career transitions. If you're seeking direction, connection, or just a little push to play bigger, consider this podcast, your VIP path to a community that genuinely understands your journey. Join me every week for candid conversations and practical guidance designed to help you navigate the challenges of life and business, foster a growth mindset and cultivate meaningful connections. It's time to embrace your inherent power, define your unique purpose and prosper in every aspect of your life. Let's get started.

Sabine: 0:54

We are on week two of the power of money series, cultivating financial confidence in women. And so today I have another amazing guest, uh, Barbara Welch. And I'll share a little bit about her background, but then also have her share with you, uh, what makes her fabulous and an expert in this space and why I just had to have her on the show. So real quick, Barbara Welch is a, the co founder and managing director of inheritance development, LLC, a firm offering business and personal finance, coaching, and consulting under the brand, the good life. She has focused on helping professionals and emerging business owners master their finances and build wealth using principles and strategies that she has practiced and developed over the last 25 years. With that, welcome to the show, Barbara. Barbara.

Barbara: 1:51

Thank you, Sabine. Thank you so much for that introduction. So it's great. It's a pleasure to be here today with you.

Sabine: 1:57

Absolutely. Really, really excited to have this conversation. So I shared, you know, briefly about your bio, but if you would please share with us a little bit more about your career journey and what has led you to, you know, really own this space of supporting people in, building their finances and building their longer term wealth.

Barbara: 2:18

Okay, well, I'll give you a summarized, uh, version of my professional journey. Um, after I earned a, uh, bachelor's of business administration from Howard university, I started my career as a banker and, um, offering financial services for individuals and small businesses and retail banking, um, with, uh, The, at that time, it was one of the largest regional banks in Michigan, um, and has since been bought out by, um, a super regional. But that's where I found my interest and my passion for really helping people to build wealth and to master their finances, um, and become better small business people. So, uh, that, that's where I started my career, and then I also, during that same time, I started my first business, and, um, at Howard, I was exposed to black art that I had never seen before, coming from a smaller, uh, city in western Michigan, and, um, so I, uh, was able to make contacts while I was a student and, uh, bring that art back with me. And so I launched my very first business, um, as a young professional. And, um, while I was building my career as a banker. So that was my first, um, business to really, um, Be in a position to really understand my, um, my customers, my business customers, because I too was a business owner. Um, I then went on to co found a business with my husband. Um, in the nineties, um, we were, we started one of the first black owned network marketing businesses in the U S And, um, we did that for a number of years and I say that business, um, that business failed and, but we failed forward and, um, really used that to catapult us. And, um, we learned from that experience. Um, I later became a licensed financial professional and a registered investment advisor, uh, taking principles that I learned from that failed business. Um, Which created the eight principles that I then used with my clients and, um, I was able to start a financial education firm called, um, the good life financial education, uh, company, um, helping individuals and families manage their finances. Finances. And, um, and then my most recent, um, endeavor has been inheritance development, which I bring all of that business and finance coaching, consulting, as well as real estate investing under one entity and, um, helping individuals build wealth. So that is in a really very summarized version of my professional journey.

Sabine: 5:20

I love it. Thank you. And I love the way that you framed, um, you know, the, the business failure as we fell forward, right? Because I feel like in business, if you're not failing, then you're not growing. And you know, what really, uh, delineates those who are able to succeed, if you will, or pick back up are the ones who are able to find the lessons learned. through that process and be able to come back stronger, which it sounds like you've been able to do through your other business ventures.

Barbara: 5:51

Yes, absolutely. And I'm, you know, I had to learn that though, you know, be when you're experiencing that failure, um, it's, it's difficult to, um, see how that's taking you forward. But again, it's developing that mindset, you know, that it, uh, exactly as you said it, if you're not trying things, you know, everything you try is not going to be successful. So you have to be willing to fail and you're going to move forward from that. So, I'm a firm believer in that.

Sabine: 6:23

yes. Okay. So you have been in this space for 25 years and so, as we look at the trends in the marketplace, you know, women are starting businesses, at a rate that. That's higher than before. Um, we're in a space where women have had to take control of their careers and their finances, uh, due to the pandemic and due to other things that have been happening, just around us and in the marketplace. And so, you know, I'm curious as you've, as you've been going through your business, are you seeing a shift? In terms of your client base in, in more women, uh, coming to you for, you know, longer term financial planning or to make different decisions or has it pretty much been, um, straightforward throughout the last few years?

Barbara: 7:11

You know, I, I think, um, just with the economic boom that we experienced in the last several years, um, And in coupled with, um, COVID and people having that time to kind of pull back and really assess where they are and, um, where they want to be. Um, I have seen more interest in, um, business and women wanting to start businesses and really. Taking those ideas and actually getting them to market. So, um, I certainly have seen more of that and more interest in, um, individuals, professional, young professionals, um, professionals that represent, um, you know, all generations wanting to make sure that they're okay financially. And, uh, so I definitely, um, I think this has been an environment. That has just caused people to, um, want to just take note and, um, assess where they are. Um, we. Understanding that, um, you know, we're not gonna be here forever. So what does my legacy look like? Um, wanting their children to be in, uh, in a good place. And so it, I, I, I think this environment has, uh, definitely had some positives and really encourage people to really step out, um, and take advantage of now. you know, because tomorrow is not promised.

Sabine: 8:48

True. Yes, that is very true. So let's, let's, let's dig deep into this, right? Because as, as we were talking before in the green room, so to speak, you know, this is a, this is an opportunity. I feel like there's an opportunity here to really help empower women. Um, it really all genders, but, The focus is really on empowering women. in, in getting, uh, or building healthier relationships with money. And so, you know, many of the, the people that are in my tribe, you know, they are professionals who have like mid careers, they've been in their businesses for a while, um, financially, right on, on so many different levels. Like from a what comes in, uh, looks healthy on the outside. Um, but then certainly I feel like there's this opportunity for us to step into. An even larger realm. And so what have you noticed from the clients that you work with? And even the work that you do where women in particular might be holding themselves back when it comes to really, um, embracing that relationship and really looking at it from the standpoint or the mindset of how can I grow? How can I keep, how can I multiply more of what I am bringing in?

Barbara: 10:06

Yes. So I think you're asking me a couple of things there, right? So, um, what are, like, maybe what, where are women missing the mark as, um, you know, they're looking at their finances and then how can they get growing, keep more money? Right. So these, okay. So, um, you know, I would say that, um, what I have, I think it's just, it's really been, um, you know, for many years, because I think it goes back to a mindset, um, regardless of where we are, um, are, you know, with our economy, regardless of where we might be personally in our finances. I think, um, what I've seen personally, a lot of women where they missed the mark is they really, they can misread their success in one area as, being automatic. In, um, how you successfully manage your finances. I think that's a big piece. So they may be a great earner, but then they, lack the, the skillset to really manage their finances. and really maximize though. So they're not making good decisions. Um, and so. I think that is something that's really kind of prevalent in our society, especially when we are experts in a field, um, and we have, um, you know, a lot of notoriety around that, we can fool ourselves into thinking that that just automatically projects in one area of our lives. So, that's definitely, um, an area where I think women, have missed the mark. one, one has nothing to do with the other.

Sabine: 11:45

Barbara, before you go, you, you go into the next point there. I think that that's a key thing that you just said, right, that we can misread success. In one area and completely be blind sided, if you will, on, okay, well, what does that mean holistically? And so I just wanted to take a pause there because, you know, oftentimes we hear the term wealth, right? And we, we hear wealth, but we also. Most of the time associate wealth with money or wealth with, okay, what we have left over after we've spent. Right. But really if we look at wealth building and legacy building, it's really a holistic thing. That's, that's your mental, emotional, spiritual, like everything about you, who you are in building wealth. And so I just wanted to take a moment to pause. Cause I felt like that was a, a mic drop moment. Um, and if you wouldn't mind before you go into the next thing, you know, as you think about missing our, our misdiagnosing success in one area, um, it has, it has greater long term impact on different areas of our lives, right? Not just the, the money and how we save and all those other things. Are there any other areas in our lives where you've seen that? You know, that, that blind spot, if you will, has affected and has impacted other areas of, of our lives. I mean,

Barbara: 13:11

I, I think you're right on Sabine, you know, um, when we look at our finances, um, it really is many times the symptom of, you know, other areas that we want to work on. So we really do need to take this holistic approach. So, We may feel that it's just a matter of, um, not having enough money or not having that particular strategy, but sometimes it's just those overarching principles that are important in any area of our lives. And I talk about these, this, this, you know, these are the principles, um, that, um, I have built a philosophy around, um, there are eight principles that, That spelled a good life. It spells an acrostic. And so, um, you know, just quickly, I mean, um, sometimes the blind spot could be that we are not grateful. Okay. We're not operating from a place. Um, it could be that we lack discipline. So we haven't built that resilience, um, to really be consistent over the long haul. We're not willing to, um, continue to grow and learn to be a lifelong learner. Um, and to invest in ourselves, not just financially right, but invest in ourself in a holistic way. So we are considering that, um, investing in ourselves means, um, you know, socially, it means emotionally, it means spiritually. And so it's, um, as well as our health. And so all of these areas, um, impact us and have everything to do with success in our lives, including financial success. Um, so I, I, I love that question. And, um, I, and it's really exactly my approach when I'm working with my clients is that you have to, in order to live a life that you imagine you, it cannot be one particular area. You have to constantly be working on the entire, your entire person, you know, all of the time to really, um, Be able to enjoy your life because you can be that great, you know, you can have that great career and have a great income. But if you're not healthy, then you're not going to enjoy your life. You know, if you're not grateful, if you don't have relationships to share your life with, then you're really not going to lead the life that you desire, you know, the good life.

Sabine: 15:49

Absolutely. I love that. And you know, I think the other thing that, you know, uh, goal that I have for this series is really getting us comfortable talking about money because so much of our, our lives, right, our reality is surrounded by it. And I have a lot of clients again, you know, clients who are professionals, clients who are entrepreneurs, clients who are running organizations that are women. And they have these, uh, they have these stories about money and they have these fears about money and you see it in their decision making, right? Like you see how it's impacting not just them, but everything around them. And so it's really getting to that place. Or my goal here is to really get to that place where we can, you know, demystify what it means, you know, to have money, to want money, to want to grow money as women, so that we can see. See that, you know, we can strip away if we've attached money with our worthiness or our worth, right? How is that showing up in different areas in our lives, right? How are we reinforcing that? We don't believe we're worthy in different areas of our lives because we don't. You know, because of that relationship with money or, you know, consequently, like, what does that look like at work? Like if you're not willing to ask for a promotion, because you've been the interim something, you know, for months, or you want to go after a promotion. And so it's really getting us to this place where we can release all of these. Uh, I had one guest. talk about money wounds, right? Release some of these money wounds so that we can get to the heart of, okay, it's not just about the money. Yes, we're talking about money because it's paper. It's the resource, but think about how our beliefs around that impact and have affected negatively All different areas of our lives and how do we break that cycle?

Barbara: 17:46

No, that's I mean, that's that's it. I mean that that's you know, really good sabine and um, I I totally agree with You know everything you're saying there and it just really goes back to um that holistic approach to um, how you live your life and Um, then how it impacts you, um, financially. so why isn't it that you're getting these opportunities to, um, for promotions or, um, You know, why is it that year after year, you're not able to hit some of these milestones that you have, um, you know, financially and personally. And so it really goes back to just doing that hard work, the hard work of working on yourself, the hard work of being accountable and showing up to heal. to heal in those areas. Um, to be honest with yourself. A lot of times, you know, the very thing that might give you the breakthrough in your finances, um, can, um, could be just, you know, stepping away from a lot of that and working on yourself. It might be talking to somebody, um, and it might be just focusing on your health. It might just be focusing on healing in relationships. So finding out what, you know, examining what I call the good life stealers. So what is stealing that, um, the, that life from you and then really working on that area, um, and overcoming that. And then, you know, it's, because we are always growing as as individuals. Um, and we have our whole lives, the rest of our lives in front of us. We're always working on things and just realizing that. And so understanding that you have to be a lifelong learner and things are going to come up. Um, we're going to be triggered by different events in life. And so we have to keep growing, um, as as individuals and just really having that be a part of, um, you know, The part of how you live that you're going to keep growing, you're going to keep learning. You're going to keep overcoming and then begin to practice the new behaviors, these new mindsets. And as you see the results, use that to keep propelling you forward.

Sabine: 20:08

Yeah. So it, it, um, it would, it sounds like we're both saying that it's not enough to just have the mindset of, I want to make more money, right. Or like, I want to generate more revenue in my business. Right. That's great. But. We know that, you know, successes is 80 percent mindset, right? And 20 percent the execution. So what we're trying to drive home here is that, you know, making the money is one thing. But really doing that self work and that self examination to see how, you know, how your beliefs, how the other parts of your life, if you will, are in reaction to that, because, you know, we, we can all work 20 hours a day and make all the money, but then at some point our health is going to suffer. Our relationships are going to suffer, um, you know, our ability to service others are going to suffer. So it's, it's moving away from. How do I allow this tool, right, to support me in doing what it is that I need to do? How do I, how do I make it so that I embrace, every area of my life to holistically look at what does it mean to build wealth? And so, you know, I'm sure there are women that you've worked with who have, have come into your practice and they are, they're excelling. Like they, babe. Figured it out. Or maybe through your help, they figured it out. What are some of the key behaviors or characteristics that you've noticed about these women who, you know, are, are excelling in the space versus the ones who may just be starting out or the ones who are on their journey?

Barbara: 21:48

Mhm. Yeah. Characteristics. You know, and this it's when you talk about these women, what comes to my mind is that, um, these women represent all kinds of industries. Um, they represent, you know, generations from baby boomers to Gen Z years. Um, it's, you know, it's, it's the behaviors, right? It's the mindsets that, um, really put them in a position to be able to be successful. So they are comfortable. Um, you know, they're genuine, uh, they're comfortable in their skin. These are women who are, confident. And when I say they're confident, I think one thing I want to really, bring out is that confidence keeps them from comparing themselves. Right. They're in their lane and, they're good at what they do and they're, and they are comparing their selves only to their last level of success and they're moving forward. that can, the comparison thing can be very debilitating. And because there's, especially now, With this is kind of society we live in with our ability at any moment to see So many other individuals in the very same space doing exactly what you do You have to be someone that is So focused and so confident to not compare yourselves and these women understand That there are a myriad of ways to accomplish success And so they're the best course of action is to continue to focus on what is working for them and continue to develop that and, um, and stay true to that. And I would say that that is one of the, um, the most important characteristics that I see in successful women, um, that I, you know, have the privilege of working with. And they enjoy life. You know, these are people who are, they just have a inner joy and a peace. as they live out their lives. Not that everything is perfect, but, um, they do have, uh, this, a joy and a peace about life, um, and they are trying to enjoy their lives and they're trying to, they, they work, um, Because they want to be able to do some things and have some things and spend time with people that they love. And so it's, uh, the seemingly simple things that again, Sabine, like we've been talking about that really take that hard, that work, that inner work that, um, in order to be able to have these characteristics, to be a part of who you are, to have this type of mindset. So those will be the things that really stand out to me when I talk about, um, successful. Women.

Sabine: 24:53

Absolutely. Absolutely. And so you, you hit on, you know, you hit on a really good point there around confidence, right? And so often, especially we, as women, right, we hear that word and we know that most of the time, the thing that keeps us back, right, that it keeps everyone back, right, is just that inner confidence of, yes, I can do this. Yes. I have the skillset to do it. Yes. I have the capacity to do it. Um, but I, I think. You know, we like confidence. I feel like is one of those words, like purpose, right? Like it's hard at times to pinpoint. Well, what does that actually look like? What does that mean? What are the behaviors? Like, how do I make this concrete? And I think one of the things that you just did just now was give us an example of how to measure. Someone's confidence, right? Or give us a strategy of how to be more confident within yourself. And that's simply avoiding that comparison trap. Um, you're absolutely right. Like that, especially in the day of highlight reels that we live in today, right? It's easy to get on even LinkedIn now or Instagram or anything else. And everybody is just like, Oh, you know, you need to be a six, seven. Eight figure coach. And, you know, you need to be making X number of dollars. And so, you know, for somebody who's not in that space, it's easy to just be like, well, I'm not there yet. What's wrong with me? Um, why am I not making it? It just feeds the, you know, the defeating mindset within us. And then our value and our self worth gets tied into the money that we're making or we're not making. Um, and so. Yeah. Shifting the focus on, you know, what, what are you doing? Like, how are you showing up better than you were before? What are you doing to invest in your, you know, your financial IQ? What are you doing to invest in individuals who can support you so that you can continue to grow and not care about, you know, what, what Karen or Melissa, whoever else, and where they are, but how do you focus on growing and, and that in itself. In and of itself gives you confidence that in and of itself gives you, you know, the, the pride in knowing that you're moving forward.

Barbara: 27:10

Yeah. And that's, um, you know, that's a growth mindset, right? So, you know, women that think that way, um, they believe that they can grow. They believe that they can acquire that skillset. They believe that they can, um, build a network around them. So it's about having that growth mindset versus that limited mindset. They believe in abundance and that there's, you know, more than enough. And so it makes all the difference, you know, it's gotta be that core. Everything builds on that. Not that these other things are not important. You know, the technical is important, but sometimes the technical does not stick. It's not sticky because you don't have a foundation to build on. So.

Sabine: 28:00

Yeah,

Barbara: 28:01

very important. Very, very key.

Sabine: 28:03

So let me ask, ask you this question. So, you know, when we talk about growth mindset, let's say someone comes to you and their mindset, right? Or what they, uh, proposed to be a growth mindset is I want to grow my wealth or I want to grow, you know, my, uh, my finances, right? We're what I'm hearing you say is that's not the growth mindset, right? That's, that's a desire that you have, but the growth mindset is really taking that step back and saying, I want to grow and this is what I'm willing to do. Or this is what I'm willing to explore to be able to grow into that space.

Barbara: 28:42

Yes. Is that

Sabine: 28:42

correct?

Barbara: 28:43

Yeah. Absolutely. So it is, it's um, you know, it's the belief that it's possible, but then it's the action behind it. Right? So you're actually taking the steps and doing the work, uh, to get the, to get the results. Um, and, and, uh, and the belief part is huge, right? So you do have to, um, you know, um. If you, if you have, um, a more of a, a limited mindset, then, um, internally, you're playing this tape all the time, right? That it's not possible. Things can't change. This is how, you know, um, I don't come from the right background. Um, this is just the way it is. And so it's, you know, there is a lot going on internally. Um, and, you know, and, you know, mentally that has to be changed in order to find yourself. in a more abundant or a more growth mindset. So it's not, it is more than just mentally ascending to it, right? Or just speaking it, it is building on, you know, building the ability, building that, um, the skill sets that result. And having that growth mindset and you know, we, many times we do, we want to read a book or we want to listen to a podcast, but then after it, right, you've got to do the work

Sabine: 30:11

and you have, you need to,

Barbara: 30:12

you need a strategy and a plan, you need accountability, you need, you have to be working on the right things. In order to, to get the results.

Sabine: 30:21

Right. So for those who are listening who are, really working hard towards it, right? Like where it's, it's a, it's a focus for them. They realize that, you know, maybe in the past. They've been, they've hindered themselves just because of their mindset and they're, they're really thinking to themselves, all right, look, I have all of these messages and I'm trying to figure out where these messages come from for someone just starting out. And again, obviously we're, we're talking about professional accomplished women here who are very intelligent in their own right. But this seems to be an area that. Alludes them, right? So outside of having the belief outside of having the desire, what are some of the things that they can start to do to say, okay, I am here and I want to be here, how do I start to make that transition? What are some of the practical tools that I can apply or practical steps that I can, you know, begin to take to help me. Move towards a growth mindset when it comes to money, move towards a higher financial IQ when it comes to growing or multiplying, um, the resources that I do have.

Barbara: 31:34

Well, you know, um, when I start working with the client, what I'm always the first thing that we're going to do is assess where they are. We're then going to, um, make sure that we're on the same page and understanding, um, our approach to a plan of action and how we're going to be working together. So after, you know, a huge part of it is just really assessing where you are. So where are you in the process of, um, when we look at earning, okay, where are you? Um, where are you as far as, uh, saving and investing? Um, where are you with regard to, um, protecting your income? So we're looking at these, uh, different, um, areas. different areas of your finances. I like to use a, another acrostic that spells, um, bright B R I T E. So we're looking at the basics, right? And so that's going to be, um, just again, you're, you know, looking at where you are from an earning standpoint, um, where you are with your systems for managing your finances. What does your, um, credit look like? where are you with, having your different products and financial services in, um, in place, we're going to be looking at things like that. Um, we're going to look at where are you with regard to, um, long term. or are for retirement. So if you look at retirement, so are you participating in your retirement plan that's provided by your employer? Or if you're self employed, do you have, um, a plan in place and we'll start then looking at what that looks like. And based on where you are in your time horizon, Um, what those investments should look like, but high level, they were going to look at, um, I and I is where we're going to, um, look at, um, Again, we're going to look at your investments and your insurances, um, because that's going to be important for how you're protecting your finances. Um, and then we're going to look at your, um, tax situation, your tax strategy for T. And E for estate planning. So do you have, um, an estate plan in place, which again, takes us back to our insurances. It also starts talking about having a, a will in place, um, and protecting your family. Um, when, as you, look to age and, you know, have this full life, but then pass on. And so those are like the major areas that we're assessing and we're drilling, we're drilling down in those areas. Right. Um, but when we start looking at our finances and we're starting to look at, um, just taking that same acrostic and drilling down over time. So that's a very high level. begins to start happening when you want to look at where you are financially. And then you start at least we start doing some assessment around your personality, your financial personality and what, um, you know, what drives you, what is most important to you? How do you describe that life that you desire to live? So what are your values? And then those values that you espouse, are those reflected in how you're managing your money? And how, you know, how you're making spending decisions, those, uh, the things that are most important to you and the way you define the life that you want to lead, um, how was that working out for you? And then how do we start overcoming the obstacles, the mindset, the behaviors that are preventing that. So we start then looking at bringing these principles in, um, that lay that foundation for you to build on. So that's where the eight principles come in. So we start looking at, um, you know, how grateful you are, you know, are you, um, are you thinking about, Um, outwardly. So do you live a life that is just in around, you know, you and your, your family, or, um, you know, are you giving, there's lots of research around, um, being a generous person and that how it insulates you from greed. And we know greed can ruin you financially. So in a nutshell, you know, we start really looking at how some really foundational. Industry wide, um, financial, um, necessities are then coupled with this mindset and these behaviors that are imperative to really being able to be successful financially and, um, and, and live the life that you imagine.

Sabine: 36:41

I greatly appreciate that breakdown because it really shows you. You know how like your, your paycheck or whatever you get from, you know, your clients is only the very first step. Now, how are you directing those resources? How are you stewarding it through all these different buckets that, you know, create this holistic picture of who you are and your wealth foundation. And so, uh, one of the questions or one of the comments on here talks about, you know, For individuals who, you know, have, have been in the space of living paycheck to paycheck. Right. And, you know, I've been there and I know, you know, a ton of people even who make a lot of money who have been in that space. And I know that psychologically, emotionally, everything that, that is a. That is a horrible place for people to be in. And, you know, it's, it's hard to see sometimes, well, if I'm not making enough, right, how do I now even start to think about putting money away from life insurance and putting money away from this? And it seems like there's not enough, uh, to begin with. And so how do you help individuals who are in that situation? space, cope with, or even just expand their awareness to the point of, you know, yes, it is enough, right? Like, yes, you can make contributions to something,

Barbara: 38:06

you know, I. What I love about what I do is that it was just, it's really birthed out of my, myself and my husband living according to these principles. Um, you know, just the good life is, um, it is just a result of, Something I needed in my life when we were going through a very difficult time. So I talked about a business failure and how we failed forward, but that business failure, um, caused us, a great, just huge financial difficulties, we had some really rough years and. Just hearing a message at church, um, that talked about a scripture that talked about living the good life, Ephesians 2 10 and how we are, a work of art. We are created as a work of art and we were created to live the good life and we were given paths to take in order to achieve that. Right. And that really resonated with me. And that's where these principles were birthed out of because I had to decide that, living the good life started. Today, even though everything around me looked otherwise, it was contrary to just the very statement that my life was good, but it had to start with that affirmation and that belief that I was created to live a good life. And so it started with just finding little ways to have that show up in my life. And it was just one day at a time led to, one day month, one year. And when I, and then we look up, right, and we are in the middle of the good life. And so it does start, it starts by, um, these principles. Everyone has something to be grateful for. everyone. So you can have just experienced a bankruptcy. But just by the mere fact that you woke up and you have a day in front of you to move forward and have that bankruptcy be one day behind you. One month behind you. One year behind you is something to be grateful for the breath in our just the breath in our lungs that we can be grateful for it. I run out of time. I start my my my day every day. with gratitude. And I run out of time because it is endless. The things that we are grateful for and what it does for you, what it does for you psychologically. I mean, what it does for you. Um, if we really just want to talk about, um, From a pure physiological standpoint and what it does to our brains, you know We are the way that we've been created we can change things if we if we want them to be changed So just every day talking about what you're grateful for you. You actually change your brain. Our brains are neuroplastic That means that they think they can change. We can change the pathways in our brain. We can change the way we think. And so a lot of the turmoil, a lot of the trauma that we suffer, it's a form of brain damage, right? And so by having, um, just different way of thinking, um, and, um, different behaviors, we actually physically change our brains. And so then we build on, you just keep building on that. So now we're feeling better. You know, we've got more energy. We've got the ability to focus more so we can start finding our way. Out of the situation. So it really starts with, you know, what we are speaking, what we are believing, you know, what we are putting in our bodies. So you, you know, you're going through a difficult time, but try to buy the best food you can buy. Because you're, you are, you're feeding your, your systems, you're feeding your brain, and you need that in order to be able to fight through, um, in order to be, you know, to have that resiliency to, um, to overcome. So I, I tell you, I, I know anybody, it does not matter where they are in this journey. Uh, these principles work, they really do. And so that would be, you know, my advice, start where you are, just start, get up in the morning, be grateful, do something for someone else, you know, get outside of yourself, um, you know, don't, you know, in the pity party, you know, give yourself, uh, five minutes for a pity party and then move on. And then start operating, start, you know, yeah, that gives you the strength to look at those finances. Okay. Maybe you haven't been able to pay, you know, bills, maybe you, you can't, but you can get on the phone and you can, um, start having some conversations. You can put a plan in place. You can, um, believe that, uh, you can get that better position and start earning a little bit, um, um, you know, additional income day by day. It can happen.

Sabine: 43:11

Yeah. And I think that that's the important piece, right? The thing that you said at the end, uh, well, you, you said a lot that that was, uh, important in that. So thank you. But mostly the, let's start having conversations, right? Because I think that it's very easy and I think back to, you know, my low point. Right. It's so easy to fall for the lie that you're the only one going through this. Right. And then, you know, all of the shame, all of the guilt, all of the emotions, but that it becomes almost debilitating to even think like, What am I going to, what am I going to say to someone? And, you know, God forbid, like I ask for advice because, you know, again, we, we live out of these, uh, the, these ideal selves all often, right. Where it's like, I can't let anyone know. What I'm going through because of fear of judgment or anything else like that. And so I love the fact that, you know, you're, you're reiterating that, you know, the only way for us, or one of the best ways for us to get out of the situations that we are in is one, acknowledge it, right. Acknowledge where you are. To seek help, uh, seek the support, whether it's of a professional or someone that you trust, right. And then ask, ask for what you need. Um, you know, we're, we don't have time to get into the whole asking. Right. Cause that's usually another space because sometimes we're, we may end up in financial situations and sometimes it's just, you know, out of ignorance because we don't know any better. Sometimes it's because, uh, we, we miscalculated if you will, a decision or a risk, um, but it's like, You can never get out if you're asking yourself, like you didn't have the answers, which is why you're in there. Right. So how do we leverage the brain trust of the people who are around us to ask those questions, to get the information. And then while we're, while we're taking the baby steps, if you will, to dig ourselves out of that ditch, what does that look like in our daily practice? I think the, the practice of gratitude is. Um, it's such a huge piece. Like it will literally shift your life. It, I felt like gratitude has like superpowers, whereas where you are, um, when you can start to look at the blessings that, that are in your life. And then eventually you get to the place where you even look at. Those pit moments as blessings in themselves, um, and ways for them to expand you. One of the books that I was reading, you know, it talks about how oftentimes we want to label the, the pit experiences or the not so pleasant experiences in our lives as bad, but I can really think back and trace back to every. Every negative pit experience that I had, whether it was related to money or business or career, whatever the case may be, that it was a direct reflection of something that I had prayed for, of something that I had asked for. And so as we are wrapping up here, I want to leave the encouragement for those of you who are listening, um, or even those of you who are watching, you know, sometimes the storm is the blessing. The storm is answered prayer. The storm is exactly the thing that you need, um, whether it's financial or otherwise to help grow you or to help strengthen you for the thing that you've been looking for. if you're in a space where you're in a pit and you're learning to climb out, Barbara has given a lot of really great practical tools and tips of things that you can do on today, but also look at it and think back to what have I asked for? For, and then I'll leave this, this one thing I remember, um, a few years ago, uh, before I left or before I started my business, I prayed and I asked for, um, a heart that was just as big, uh, because I'm a giver, right? And so I was, I was just like, God, give me a heart to receive. Just as big as I have a heart to give. Right. And of course, you know, you're excited about that type of prayer. You're like, Oh yes, I'm about to receive. Well, guess what? I faced the lowest financial low that I had ever faced up until that point. And not only that, but the miracle in that process was That people were giving to me, right. I didn't have to call people to ask, like, people would just be like, you know, what I felt, I felt led, or it was put on my heart to, you know, send you this money, like, what is your Venmo? What is your cash app? Right. And in that space, like, obviously, you know, there's fear, there's all this other stuff going on, but I could literally see that I was in a position to receive, um, based off of the prayer. So. I say all that to say, you know, sometimes people are in different spaces, right? And we, we never know where they are from a mindset perspective, but just know that, you know, wherever you are today, Um, let today be day one. Yes. Let tomorrow be day two and just focus on there and taking baby steps towards whatever financial future that you desire that's been placed on your heart and that you know that you have the capacity that to actually, um, to actually move towards.

Barbara: 48:21

Yes. I love that, Sabine. Yeah. Great. Great advice, great encouragement. Yep. Life is, uh, you know, life is good today. You know, it doesn't have to be this far off thing. There's something good about life in this very moment.

Sabine: 48:35

Absolutely. Absolutely. so as we're, as we're wrapping up here, Barbara, I would love for you to share with the audience, you know, how can they get in touch with you? If they're, you know, if they're looking for. Support if they're looking or ready to ask for, uh, guidance around, you know, building stronger, uh, a stronger relationship with their money and their finances overall, how can people get in touch with you? What do you have going on?

Barbara: 49:01

Okay, great. Well, thanks so much, Sabine. Um, I am on LinkedIn and Facebook, um, at the good life money coach. And my website is the good life money coach. com.

Sabine: 49:15

Awesome. All right. So we will include those links in the show notes and I'll go back for those of you who are watching live and put it in the comments. Um, of course, like Barbara's mentioned, please feel free to connect with her on LinkedIn and connect with her on Facebook. We will be back next week. have a great rest of the day, take care.

49:37

Hope you enjoyed this week's episode. If you found today's conversation helpful or got a piece of insight that you plan to implement in your life, I'd love to hear from you. Connect with me on LinkedIn at Sabine Gideon and send me a message, or feel free to leave a review on either Apple or Spotify. I also invite you to share this episode with anyone in your network, another powerhouse, possibly. Who you think might benefit from today's conversation. Lastly, as always, any links, any resources, or any upcoming training is included in the show notes. So be sure to check that before you leave today. Until we chat again, have a blessed and powerful week.