It's essential to cultivate a healthy money mindset from a young age. In this episode, Wade Reed sits down with his daughter, Emily, about developing a money mindset. Emily shares her journey towards financial independence and abundance, talking about the challenges she faced managing her finances in high school and how she learned to budget and save for future expenses like college, a career in dance education, and a family. Discover the power of proactive spending and conscious choices to unlock your financial goals and create a truly fulfilling life!
KEY TAKEAWAYS:
● Track your spending to understand your finances and increase savings.
● Complete the conversation with your emotions.
● Money is a tool to achieve life goals, not the end goal itself.
● Develop a proactive, not reactive, approach to finances.
● An abundance mindset empowers you to achieve your goals.
● Education provides valuable skills and opportunities.
● Open communication about money is crucial in relationships.
● Don't let money be the primary reason for your decisions.
● Saving is delayed spending for future goals.
KEY TOPICS:
02:44 Navigating Scarcity Vs. Abundance Mindsets
06:32 Completing The Conversation For Better Emotional Resolution
12:06 Balancing Faith, Education, And Financial Wisdom
16:30 The Role Of Money And Business Knowledge In Successful Partnerships And Marriage
17:48 Developing A Growth Mindset: The Value Of Being Proactive
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