28. Why Does Your Mindset Around Money Matter So Much?

11/08/21 • 30 min

Often we talk about wanting to achieve financial freedom, how to budget, invest and grow our money but this topic of changing our mindset around money can be forgotten. But, how we think about money determines the role it has in our lives. Our purpose and the "why" behind our money can directly influence the 'how'.

This is a topic that we're both particularly passionate about and have spoken a lot about on the podcast - most recently in our money moments episode with Briony McKenzie - so we thought we'd unpack it even further.
In this episode we cover:

What is a money mindset
Scarcity vs Abundance mindsets and how relate to your money
Christine & Cat’s money mindsets and how they play out in their relationships
How Cat’s value of fairness translated through to her decision to book a luxury hotel
Where we get our money beliefs from
How spending in line with your values links to an abundance mindset
Why Christine uses affirmations to try to shift her mindset to being from a place of abundance
Tips for changing your money mindset from scarcity to abundance
How holding people in the same light when it comes to their money mindset isn’t necessarily helpful

...And there's lots more goodness in there, so get listening now.
Check out our website and show notes at www.itsnosecret.co.nz/28

If you enjoyed today's show, we'd LOVE for you to rate & review it on Apple Podcasts and share your favourite episode with a friend.
SUBSCRIBE to It's No Secret, wherever you listen to podcasts and never miss an episode: Apple Podcasts - Spotify
Follow us for fun chat & financial tidbits on IG: @itsnosecretnz
Got questions? Get in touch: www.itsnosecret.co.nz
Disclaimer:
Investing involves risk including the possible loss of principal and there is no assurance that the investment will provide positive performance over any period of time.

The information provided should not be relied upon as investment advice or recommendations and should not be considered specific legal, investment or tax advice.

Any information we provide is general only and current at the time of writing.
Kernel Wealth Limited is the manager and issuer of the Kernel KiwiSaver Plan and Kernel Funds scheme. The Product Disclosure Statements are available at www.kernelwealth.co.nz

What is a money mindset
Scarcity vs Abundance mindsets and how relate to your money
Christine & Cat’s money mindsets and how they play out in their relationships
How Cat’s value of fairness translated through to her decision to book a luxury hotel
Where we get our money beliefs from
How spending in line with your values links to an abundance mindset
Why Christine uses affirmations to try to shift her mindset to being from a place of abundance
Tips for changing your money mindset from scarcity to abundance
How holding people in the same light when it comes to their money mindset isn’t necessarily helpful

...And there's lots more goodness in there, so get listening now.
Check out our website and show notes at www.itsnosecret.co.nz/28

The information provided should not be relied upon as investment advice or recommendations and should not be considered specific legal, investment or tax advice.

Previous Episode

undefined - Bonus Episode: Money Moments with Rebecca Keil - Teaching Kids About Money, Combining Finances and Managing Money Whilst Self Employed

Bonus Episode: Money Moments with Rebecca Keil - Teaching Kids About Money, Combining Finances and Managing Money Whilst Self Employed

Today on our Money Moments episode, we're joined by Rebecca Keil, Social Media Influencer, Comedian, Mum and all-round great human.
Most NZ parents have probably come across Rebecca on Instagram - after she burst onto the social media scene in 2016, building an audience due to her authentic and super candid content.

Rebecca lives in Christchurch with her young whānau - her two kids Rocky and Ruby, husband Jared and they are literally expecting a pēpi any day now.

She's passionate about social issues and speaking openly on things that may not get airtime elsewhere. Her followers (that includes us) laugh along to her stories and thoughts around pregnancy, parenting, home life, relationships and more. So it made complete sense for us to want to chat to her about money.

Rebecca has also hosted many events and speaking tours around NZ - each time raising money for charities in the towns she visits. To date, she's raised over $50,000 for local NZ charities.

In this episode, we discuss:

How her parents taught her money skills
Combining finances with her husband at a young age, and how she took on the family CFO role
Teaching her kids about money with unwavering honesty
How her kids' personalities shine through to how they approach money
The challenges with being self-employed, with irregular income and property purchases
The journey to knowing your worth as an influencer and charging clients for work
Buying and upsizing homes
Getting crafty with monetising a large social media following
Why she's passionate about raising money for great causes

We honestly could not stop laughing when editing this episode, so if you've come for the money chat we know you'll stay for the lols.
Enjoy!
---

The information provided should not be relied upon as investment advice or recommendations and should not be considered specific legal, investment or tax advice.

Next Episode

29. How Do You Help Your Financially Illiterate Family With Preparing for Retirement?

For those of us in adulthood that have a relationship with our parents, there comes a time where you suddenly realise your parents don't actually know everything and chances are, there are things you may know more about than them. ⁠
⁠
This of course could be anything. Our parents might know more about the specific field they work in or have more life experience, but if we're more literate in finance (i.e. we work in the industry), how are we to approach a conversation about money and retirement with them? ⁠
⁠
Whilst this might seem like a controversial topic for two women in their 20s and 30s to speak to, particularly as we are nowhere near retirement, but this week we go there.
In this episode, we chat about:

Do Cat & Christine talk to their parents about money and retirement?
Weighing up your motivations when talking to your parents about money - is it for selfish or selfless reasons?
Why this is an important topic to be talking about, particularly in NZ
How means-testing in relation to NZ Super tie into this conversation
Determining whether you're the right person to be having the conversation
Is a third party better to be brought in, to talk about money? I.e. a lawyer
Why starting with goals and questions might be an effective approach versus jumping straight into the detail
Thinking about your, and your parents’ reality versus dreams when talking about retirement
Things Cat & Christine think their family have done well, or wish they had done when it comes to money growing up⁠

...And there's lots more goodness in there, so get listening now.
Check out our website and show notes at www.itsnosecret.co.nz/29

The information provided should not be relied upon as investment advice or recommendations and should not be considered specific legal, investment or tax advice.