A New Money Mindset

Our mindset has changed so much over the years! Last season we covered money mindsets for each decade of life, however, on today’s episode of Black Girl Fly, discover your money mindset and how it can change over time. We will also dive into the steps you should take and the models you should follow to reach your money goals. Visit us on Instagram to tell us where you are in the process.

EPISODE HIGHLIGHTS
[:23] Introduction
[1:20] Open to Opportunity
[6:12] Take Risks
[9:07] Steps to Finding/ Surpassing your Money Mindset
[13:28] Find your Money Model
[15:26] Change Takes Time

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Transcript

00;53;56;29 - 00;54;00;19

Speaker 1

Welcome to another episode of Black Girl Fly. I'm Your Girl, Tenisha Nicole and.

00;54;00;19 - 00;54;01;14

Speaker 2

I'm Tashaunda Dixon

00;54;02;06 - 00;54;21;11

Speaker 1

And today we just wanted to do a quick check in on a topic. I think we've covered this and a few of our other seasons, but I think this is a good question to periodically just check in on. And so, I mean, I'm like without further ado.

00;54;21;11 - 00;54;22;10

Speaker 2

Tell me what it is.

00;54;22;23 - 00;54;32;07

Speaker 1

So the topic today is about our money mindset and I'm like, Wow, we've been recording this podcast for a few years now, two, three years ago.

00;54;32;07 - 00;54;33;14

Speaker 2

Yeah, this year, three.

00;54;33;15 - 00;54;51;27

Speaker 1

Years, three. And it is crazy to imagine like, wow, a lot of things that we've talked about from season one has stayed the same. I think we've grown so much in our mindset and so just taking a moment to revisit our money mindset and like where we are today.

00;54;52;11 - 00;54;52;21

Speaker 2

Yeah.

00;54;53;01 - 00;54;53;28

Speaker 1

So you go first.

00;54;54;08 - 00;54;56;11

Speaker 2

So, so where am I today?

00;54;56;11 - 00;55;00;14

Speaker 1

Yeah. How would you describe your money mindset in any shifts?

00;55;00;14 - 00;55;19;27

Speaker 2

I would say that I'm open to more opportunity. Like I were in season one. I was like, I'm just heads down. I can't do anything. I gotta I got to kind of stay, you know, the course. Yeah, it was kind of my thought process then and now I'm like, I'm open, like I'm watching, like I'm like, what opportunities do I have?

00;55;19;27 - 00;55;27;03

Speaker 2

What can I, what can I do? And I'm honestly, I'm I'm thinking larger than I've ever thought before.

00;55;27;05 - 00;55;27;22

Speaker 1

Okay.

00;55;28;06 - 00;55;36;22

Speaker 2

Okay. Robbie, I mean, it it took a while, though, and I also think it took experience. I actually just I actually sent you something other than.

00;55;36;22 - 00;55;44;18

Speaker 1

Yes, yo. Oh, my God. I was like, rather cry in there. I had to. Okay, go now.

00;55;45;18 - 00;56;06;15

Speaker 2

But but it was it was so funny cause we talked about, like, this had to be like two seasons go to we talked about how we had our, like, financial mentors and how they transitioned over time. And I could truly see the progression like when you are just barely making it, you're like, I got a, I got a squirrel away the little that I have.

00;56;06;15 - 00;56;30;10

Speaker 2

And I can only, you know, think about those things. And as you get out of that, it's like, okay, I can, you know, go a little further. I can put a little away for the future and then that, that, that space that you're in slowly grows. If you're, if you're making the right changes, if you're being, you know, fruitful in the direction that you're taking in the lessons that you're learning to grow.

00;56;30;14 - 00;56;39;24

Speaker 2

Right. And now for me, I'm like, let's do it. Like, oh, like, am I, am I in the right position to make that move?

00;56;39;24 - 00;57;06;04

Speaker 1

Yeah, I love that. So we just got that go way she sent me cause I was like, Oh, so Charlotte sent me this video clip with Gary Gunderson and Robert Osaki and so plugging go back and listen to that episode from season one about your financial gurus, because we shouted out both of these guys. We did, and they were part of the progression and they were actually the last two in our progression.

00;57;06;13 - 00;57;22;01

Speaker 1

And in that clip though, they also talked about Susie warming. Yeah. And like where you are in your money mindset when you need these people, right? When you gravitate towards these people which okay, we did it first.

00;57;22;16 - 00;57;26;18

Speaker 2

Right? So we did. Ours is always before theirs. You will see this. But no.

00;57;26;22 - 00;57;37;22

Speaker 1

Actually it's so I just thought it was so amazing because, you know, in my house, my sister, my baby sister and my mom, I.

00;57;38;17 - 00;57;40;22

Speaker 2

Was definitely a lot older. Okay, got it.

00;57;41;14 - 00;57;58;16

Speaker 1

But I'm like that. Exactly the stuff that I was looking at back then. Yeah, right. And so and I was like trying to be like, here's another way. We better keep pressing forward. Yeah. And so I was just so happy you sent me that. And when she did, I was like, so what was your take? Yeah.

00;57;59;05 - 00;58;07;17

Speaker 2

Now she's so by the way, she did not respond to tonight. Okay, what you see? Where are you at? Oh, let me let me do a check.

00;58;07;17 - 00;58;44;17

Speaker 1

I definitely was that. I was just so happy the way she responded. So I thought that was just phenomenal. And and it reminded me of like, thinking about where, where I was and in season one when we were talking about that. But you know, I think a lot of this stuff that I was taking in from Gary Gunderson, who I still highly respect and Robert Hill stock is all very theory based like it sounds nice, it's starting to make sense to me, but I still have so much fear about the actions that I had to take.

00;58;44;17 - 00;59;15;11

Speaker 1

Yeah, the sacrifices that I would have to make in order to be able to access those opportunities, you know? And so, I mean, I would say I lived a lot. I mean, I lived a lot. And the theory for, you know, a long time and this is actually how I process. So some people are like, you move really fast on things, but it's actually because I've already thought about this for a year or two before I've moved on and I'm like so solid on where I'm going because I've already spent so much time thinking about what to buy.

00;59;15;11 - 00;59;19;04

Speaker 2

It's really about the fact that your thoughts become your actions.

00;59;19;08 - 00;59;19;26

Speaker 1

Yeah, no.

00;59;20;03 - 00;59;31;08

Speaker 2

Yeah. And that whole matriculation down that path is that you've already kind of thought about it. So much that you're ready. Like, like you have that foundation to make that a basis for how you make decisions.

00;59;31;08 - 00;59;41;07

Speaker 1

Exactly. And it, I mean, you kind of convince yourself that it's real. Yeah. Like you're like, this is going to work. It makes sense. Like, it's got to be sound about it.

00;59;41;07 - 00;59;50;01

Speaker 2

So with that being said, though, I feel like you're saying that you were kind of there in season one. So how have you changed from from season one to now to now?

00;59;50;02 - 00;59;55;09

Speaker 1

I mean, I'm taking some of the biggest risks of my life.

00;59;55;09 - 00;59;57;10

Speaker 2

I think I've seen some of them the my my own.

00;59;58;21 - 01;00;09;13

Speaker 1

I knew what would be like, are you scared or not? And I'm like, No, because I've thought about it for ten years. Right? And I'm like, this got to work like this. You've got to work.

01;00;09;14 - 01;00;11;13

Speaker 2

I'm watching it. I'm going, okay.

01;00;12;10 - 01;00;32;12

Speaker 1

But but I'm like, there's, you know, to me, I get there's only I say this about relationships too and people in their singleness not to sidetrack guys, but I'm like, you can bring your singleness and do your thing for a long time and work on yourself, heal yourself. But until you in a relationship and that stuff is tested and like, you know, you did it exactly.

01;00;32;12 - 01;00;53;20

Speaker 1

So like I'm at that point, I'm like in application right now to see if I could pass the test. But like it really it test you in such a different way to like apply it. Yeah. Because there's only so much you can know without doing. Yeah. Like, you just can't plan for everything. You can't study for everything.

01;00;53;20 - 01;01;00;06

Speaker 2

So are you saying, though, that you were you were in the thought like back then? Yeah. Now you're more in the action.

01;01;00;07 - 01;01;24;25

Speaker 1

Yes, I'm definitely in application. And I can tell you, like with all the risks that I've taken. Yeah, it's scary sometimes. But at the same time, if, if you want to be safe, like you probably already know what that looks like. It looks like what you're doing right now. And if you're content with that, by all means proceed.

01;01;25;08 - 01;01;45;16

Speaker 1

But for me, I know I'm not content. And so if the worst off I'm going to be is how I was, I'm like, then of course I want to take the risk. Like, Yeah, if I'm just going to get back to where I was already. Like, like no brainer. But it hasn't been easy. And at first, you know, I think it's going to be even harder.

01;01;45;28 - 01;01;58;03

Speaker 1

But I've grown so much just my mindset, my thinking, like as a person, as a human, and I just wouldn't give any of that up no matter what is on the other side of this. You know.

01;01;58;03 - 01;02;03;19

Speaker 2

Yeah. So, so you can't even see yourself going back to where you were before.

01;02;04;12 - 01;02;09;06

Speaker 1

And that's the thing. If I do, I know I'm not going to stay there. Yeah, I know how to get out.

01;02;09;06 - 01;02;10;07

Speaker 2

Go back and try again.

01;02;10;08 - 01;02;29;20

Speaker 1

Exactly. Like that's now my baseline. Yeah. Whereas before like my baseline was probably lower than that. Like now I know that there is more. So if I go back, it ain't going to be for a long time. And you hear that a lot of people who've made millions and lose it all. Yeah, it don't take much to earn it back because they've figured it out.

01;02;29;29 - 01;02;35;05

Speaker 2

Yeah. And also that failure was yes. No they don't go this way. You go this way.

01;02;35;06 - 01;02;36;18

Speaker 1

Exactly. It's a lesson.

01;02;36;18 - 01;02;55;17

Speaker 2

Yeah, yeah. No, it's good. I like it. That's pretty deep, though, but I guess. What? So what does that mean for the audience? Like, oh, wow, I know what that means. So why go say, though, like like even in talking about the differences in our story, like I say, go back and check out our our first podcast about.

01;02;55;18 - 01;02;57;15

Speaker 1

One the difference in the.

01;02;57;15 - 01;03;05;23

Speaker 2

Different financial mean tours. See where you are and see where you're you know how you get started out. That's probably step one.

01;03;06;00 - 01;03;08;04

Speaker 1

Yeah, it's like self-assessment.

01;03;08;08 - 01;03;08;18

Speaker 2

Yeah.

01;03;08;22 - 01;03;32;17

Speaker 1

Where are you? And then I think it's probably what would you say step two is? Because for me I'm like, are you happy there? Because if you are you good? Yeah. Then stay. Like, if there's nothing on fire, why fix? You know, like there's nothing wrong with that. But if you feel any discontentment, I think just know that there is more.

01;03;33;10 - 01;03;41;04

Speaker 2

To say though. Honestly, though, I hear you. But if they went to go look, listen to our first podcast, maybe listening to us, you're probably not content.

01;03;41;04 - 01;03;46;08

Speaker 1

That's true. If you are even listening to us, you probably are. Yeah, that's a good point.

01;03;46;14 - 01;04;05;08

Speaker 2

That's a good point. But no, but I think that's real because I think for that I look at that relationally like even though I'm not content, I need to know that it's okay for who whomever I'm looking at to be content. But I do think that's important lesson from that perspective, but not ten times. If you listen to Black Girl five.

01;04;05;11 - 01;04;33;23

Speaker 2

Yeah. You were not there. This is true. So, so, so start with the assessment. Understand the people around you and then everybody will move with you, right? Right, right. And then I'd say, take action. Like I didn't sit still in, in my thought process. And it started off talking to you, you know, reading up on it, having experiences and actually fulfilling where I was at that moment so that I could move to the.

01;04;33;24 - 01;04;56;13

Speaker 1

Next to the next. Yeah. So yeah, that's a good point because it's, it's hard to jump. Like if you got a bunch of debt, it's going to be hard to jump to. Now I'm doing a lot of investing, like that's a pretty big gap. And so I think it's continuing with where you are, but it's also like be where you are a level if you're not ready to move, I don't know.

01;04;56;14 - 01;04;58;07

Speaker 1

Do you think that's a fair statement to say?

01;04;59;01 - 01;05;16;01

Speaker 2

Well, I think it's understand your level so you know how to fulfill it. So like and putting that putting that in the application, like if you are at the Dave Ramsey step, he has a pretty clear guide of how to move up that up that ladder. Yeah. And, and I don't even think you finish it until you get to the next step, by the way.

01;05;16;09 - 01;05;19;04

Speaker 1

Wait, where do you think you stop on Dave Ramsey?

01;05;19;04 - 01;05;21;00

Speaker 2

I would say I probably.

01;05;21;00 - 01;05;26;02

Speaker 1

Think about this. I'm like, I do, Dave, like like I believe in babies that.

01;05;26;03 - 01;05;30;27

Speaker 2

Yeah, I was like zero. I was passed the emergency fund. I was past the paying off the debt.

01;05;31;05 - 01;05;35;25

Speaker 1

3 to 6. So now 1000. Yeah. And then three, 3 to 6 months.

01;05;35;25 - 01;05;38;08

Speaker 2

Well no first 1000 then. Pay off that.

01;05;38;10 - 01;05;43;25

Speaker 1

Yeah. Yeah I hear that. So I think that's one that's when we start modifying.

01;05;43;25 - 01;05;51;15

Speaker 2

Well and I would say at 3 to 6 I was at three times probably halfway to six months of when I felt comfortable modifying.

01;05;52;08 - 01;06;01;16

Speaker 1

That's true. Yeah. But then okay, so I know what I did. So I did 3 to 6 months, but then I reneged on the debt piece. Yeah. And I went back and I said.

01;06;01;16 - 01;06;02;02

Speaker 2

But I feel.

01;06;02;02 - 01;06;03;04

Speaker 1

Like certain that you.

01;06;03;04 - 01;06;04;20

Speaker 2

Have to get to that 3 to 3.

01;06;04;20 - 01;06;05;01

Speaker 1

To six.

01;06;05;01 - 01;06;05;17

Speaker 2

Months to six.

01;06;05;17 - 01;06;05;25

Speaker 1

Months.

01;06;06;10 - 01;06;16;11

Speaker 2

And the reason you have to do that is because you have to understand that I can have surplus, yet I can be out of debt, and that once you're out of debt, you're no longer in bondage and you can start thinking of thinking differently.

01;06;16;11 - 01;06;17;25

Speaker 1

Yes. Oh, that's so good.

01;06;17;27 - 01;06;27;20

Speaker 2

And so so back to what I was saying, though, is you have to understand where you are, work the steps, because these guys all I mean, they are all valid tested.

01;06;27;20 - 01;06;33;05

Speaker 1

I mean, thousands and thousands upon like reviews that this stuff works.

01;06;33;05 - 01;06;58;17

Speaker 2

Yeah. But, but go through it and start to dig yourself out and understand too. Yet you're constantly growing your mind during this time frame. So you're not only doing the financial actions right, but you're growing your thought process. And you will know when you create it. So Tanisha said when you've created the baseline for being able to move to the next because you've already trained your mind to take that next action.

01;06;58;17 - 01;07;12;19

Speaker 1

Right. And I would say the biggest the biggest thing is like it's not a knock on any of these systems. It's just that if you finish the steps where you're going to end is in that specific lane.

01;07;12;22 - 01;07;13;01

Speaker 2

Mm hmm.

01;07;13;14 - 01;07;41;25

Speaker 1

Dave Ramsey is for people who want to work for a long time and, like, become slow millionaires right through retirement and mutual funds like that. Is the strategy that you're going to get to with that method. Yeah, but if you don't want to do that, then you shouldn't follow all the steps. Right. But what we're saying is you can follow them to a certain point, but you got to figure out what your endpoint wants to be.

01;07;41;25 - 01;07;48;18

Speaker 1

And if it's something else, you need to find another model that's going to take you there, because Dave Ramsey's is not going to take you there.

01;07;48;18 - 01;08;13;25

Speaker 2

Yeah, that's good. And I was going to the same thing about Suzy wrap our heads together, Suzy Orman because hers was a four day for me and I told you this because it's about your relationship with money. Mindset is nice saying yeah, yes. And so it's that if you have a very so actually you hear people all the time I heard this phrase all the time, I don't want to be rich because, you know, being rich does this.

01;08;13;25 - 01;08;20;29

Speaker 2

You know, you get this experience, you don't get that. You lose that. And that is all a mindset issue. And so that's where you have to start.

01;08;21;08 - 01;08;27;12

Speaker 1

Yes, start there. But don't stay there. You know, if that's not your end goal. Yeah, that's what you have to know.

01;08;27;12 - 01;08;36;13

Speaker 2

And so that's why I was saying there's a progression. Like in order to even get to understanding Dave, you had to switch your, your relationship with money with Susie.

01;08;36;13 - 01;08;36;26

Speaker 1

Right.

01;08;37;08 - 01;08;39;14

Speaker 2

And then there's, there's an education from there.

01;08;39;14 - 01;09;14;29

Speaker 1

From there. Yeah. And I can't remember what, where do we put. But I think for me I will put Radhika Osaki as next after Dave and then Gary after him. But I think that could be debated. Which one goes first. Yeah. Getting in Kiyosaki but but yeah, I mean, I think this money mindset journey, the last thing that I would add to it is that, you know, when I think about when I reflected on my money mindset changes, it took me two years to get from like hearing about it and learning about the action.

01;09;15;00 - 01;09;25;02

Speaker 1

Yeah, not saying that's going to be anybody's journey, as is my journey, but I would say don't underestimate the amount of time you have to spend in a space till like be ready.

01;09;25;02 - 01;09;33;22

Speaker 2

Yeah, but I mean the good news is that the money game though, that that's no time. Like two years is no time considering the life that you can have.

01;09;34;03 - 01;09;50;10

Speaker 1

Yeah. So it doesn't matter how fast or quick you get there, it doesn't matter when you start, you know, young or old. But I think at the end of the day, if you're, you're aspiring towards your own dreams and like making progress towards those dreams, I think you're successful.

01;09;50;13 - 01;09;50;21

Speaker 2

Yeah.

01;09;51;07 - 01;09;53;00

Speaker 1

I agree myself.