JW’s Financial Coaching Podcast Lesson #104-How to get back up after a financial setback

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  • We love to share our success, shy away from our setbacks
  • Financial setbacks occur frequently
  • How to recover from a financial setback
  • Financial setbacks are painful in the short run, but can be beneficial in the long run
  • Quote of the lesson

The JW’s Financial Coaching Podcast_104

Financial setbacks happen more times than we like to admit. It’s not something we like to talk a lot about and who can blame us? It’s easier and more enjoyable sharing and listening to shows that share their debt free stories or other stories of success. Not so much fun to share our failures. Often because their can be a lot of shame, embarrassment, and frustration associated with a financial setback.

There are a lot of reasons why financial setbacks occur. It can be a result of a job loss, illness, divorce, major repair to a home or car. Or it can be we just took our eye off the long term goal of we had a financial relapse and went back into debt.

Whatever the reason for our setback, it’s important to take steps to learn from our setback and ensure that it doesn’t happen again. Today’s lesson we share five things to do to get back up after a financial setback. They are:

  1. Get back to the basics
  2. Make yourself a new goal
  3. Don’t try to hide from the setback
  4. Look at what caused the setback
  5. Remember how the setback felt

Financial setbacks are painful in the short run, however they can be beneficial in the long run IF we learn from the lessons they bring. Setbacks come in various ways and different dollar amounts, but they do and will happen. But it doesn’t have to be a life changing event in a negative way. Rather it can be a turning point in the right direction as well. It is all about how you react to it.

If you are going through a financial setback please get in touch with me and I would be more than glad to walk with you in recovering.

Other material referenced in the lesson:

Today’s quote of the lesson is brought to you by Audible.com

“Don’t wait until you’ve reached your goal to be proud of yourself. Be proud of every step you take toward reaching the goal.”Unknown

Enjoyed this lesson? If so, please consider taking a few minutes to leave a review of the show either in Stitcher SmartRadio, or iTunes. For a step by step video of how that works, please watch this video on how to leave a review in iTunes.

You can subscribe to future podcasts through Stitcher SmartRadio or iTunes, or by downloading the iPhone app. Or you may listen to the podcast on the JW’s Financial Coaching Facebook Fan page.

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JW’s Financial Coaching Podcast Lesson #103-How Our Mindset Impacts Our Finances

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  • Personal Finance is more than just the numbers
  • What is Mindset?
  • What Mindset on money do you have that is a hindrance?
  • How our mindset impacts our finances
  • Quote of the lesson from Adam Braun

The JW’s Financial Coaching Podcast_103

A lot of us are scared to look at and manage our finances. Often because the thought of dealing with numbers is a scary proposition. But the more and more I study and learn about personal finance, the more I realize that the numbers are actually a small part of the process and that behavior is actually more important.

I think Dave Ramsey says it best that “Personal Finance is 80% behavior and only 20% head knowledge.” So today we’re focusing on the behavior aspect our finances. But we’re going deeper then just behavior, we’re actually going to talk about the mindset that allows that behavior to happen.

To me mindset is actually even more important than behavior. That’s because the behavior is important, but the mindset that allows us to change our behavior is even more important than the behavior ourselves. In today’s lesson we try to prove that out by using the following three examples:

  1. Our mindset in paying off debt
  2. Our mindset in saving for a down payment for a house
  3. Our mindset on how we actually view money

What is the point of today’s lesson? The point is to challenge you how you view your finances and look at your own mindset when it comes to money. Do you have a negative mindset towards money? What about debt, budgeting, saving, investing, etc.? Mindset alone won’t pay off you debt, save for emergencies, or start to give more. But it will keep you motivated and grounded as you move towards you goal.

Below are other podcasts and blog posts mentioned in the show:

Today’s quote of the lesson is brought to you by Audible.com

“Big waves start with small ripples.”Adam Braun

Enjoyed this lesson? If so, please consider taking a few minutes to leave a review of the show either in Stitcher SmartRadio, or iTunes. For a step by step video of how that works, please watch this video on how to leave a review in iTunes.

You can subscribe to future podcasts through Stitcher SmartRadio or iTunes, or by downloading the iPhone app. Or you may listen to the podcast on the JW’s Financial Coaching Facebook Fan page.

Join Our Newsletter
Get the latest content first and download "The JW Manifesto on Money"
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JW’s Financial Coaching Podcast Lesson #102-Why I wrote “A Tale of Two Houses”

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  • Why I wrote “A Tale of Two Houses”
  • What inspired me to write a book in the first place
  • What “A Tale of Two Houses” isn’t about
  • What “A Tale of Two Houses” is about
  • Quote of the lesson from Chris Rock

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A Tale of Two Houses Is Live!

After months of hard work and anticipation, I am so proud to finally announce that my new book A Tale of Two Houses-Our journey of buying a house the right way after buying one the wrong way is now available for purchase on Amazon!

order-amazonClick here to get A Tale of Two Houses now!

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JW’s Financial Coaching Podcast Lesson #101-Where not to get a down payment for your next home

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  • Having a down payment is an important part of buying a home
  • Where not to get a down payment for your next home
  • Borrowing money for a down payment is like a shell game
  • Why we need to beware of government programs that “help” home buyers
  • Quote of the lesson from David Henry Thoreau

The JW’s Financial Coaching Podcast_101

 

 

 

 

 

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JW’s Financial Coaching Podcast Lesson #100-100 money thoughts from 100 lessons of the show

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  • Different format to the show today
  • Sharing my thoughts from doing 100 lessons of the show
  • Doing the podcast has taught me a lot about money
  • How you can help show your support for the show
  • How you can buy a copy of “A Tale of Two Houses”

The JW’s Financial Coaching Podcast_100

 

 

 

 

 

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JW’s Financial Coaching Podcast Lesson #99-Why we don’t have a car payment

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  • What we learned when purchasing a new vehicle
  • Why our opinion of car payments was reinforced
  • How paying for cars in cash is worth the price
  • “A Tale of Two Houses” Webinar replay
  • Quote of the lesson from Dave Ramsey

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Why Cash is King

I haven’t talked much about our personal life on the blog lately but Lisa and I are expecting our 3rd child, a daughter, in July. It’s an exciting time for our family and we’re excited to welcome our baby girl into the world! But it is also an expensive time in our lives and baby #3 will probably end up being our most expensive child yet. Continue reading

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“A Tale of Two Houses” is now available for pre-sale!

Well look what we have here! After months of planning, writing, editing, and promotion my new book A Tale of Two Houses-Our journey of buying a house the right way after buying one the wrong way is now available for pre-sale on Amazon! Pre_sale Continue reading

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JW’s Financial Coaching Podcast Lesson #98-Is your house an investment or a liability?

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  • Is your house an investment or a liability?
  • Not always a Black or White answer
  • How you buy your house helps determine whether it is an investment or liability
  • How to attend the Pre-Sale Launch Webinar for “A Tale of Two Houses”
  • Quote of the lesson

The JW’s Financial Coaching Podcast_98I’m hosting a webinar on Tuesday March 8th at 9PM EST for the Pre-Launch Party for my new book “A Tale of Two Houses-Our journey of buying a home the right way after buying one the wrong way.” I hope to see you there, if not there will be a replay made available. Continue reading

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