
Habits to Avoid While Bankrupt
08/09/24 • 36 min
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REBUILDING AFTER BANKRUPTCY: Your Step By Step Success Plan
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Summary
Louisa Larado shares her personal experience of going through bankruptcy and the habits she formed during that time. She discusses the negative habits of scarcity spending, overspending, ignoring bills, blaming others, and self-sabotage. She also provides five positive habits to adopt: taking one small action each day, dedicating 30 minutes to train the mind, spending from a place of gratitude and abundance, taking charge of finances, and finding a role model. She emphasizes the importance of implementation intentions and offers journal prompts for self-reflection.
Takeaways
- Scarcity spending, overspending, ignoring bills, blaming others, and self-sabotage are negative habits that can hinder financial recovery after bankruptcy.
- Positive habits to adopt include taking one small action each day, dedicating 30 minutes to train the mind, spending from a place of gratitude and abundance, taking charge of finances, and finding a role model.
- Implementation intentions, such as writing down when, where, and what time a habit will be performed, can significantly increase the likelihood of following through.
- Self-reflection and tracking progress are important for personal growth and financial improvement.
Journal Prompts
- What financial habits have I engaged in that have negatively impacted my financial situation? How did these habits make me feel, and what were the consequences?
- What situations or emotions trigger my urge to underspend/overspend or make financial decisions that aren't in my best interest? How can I recognize and manage these triggers?
- What are three positive financial habits I can start implementing today to improve my financial health? How will I track my progress and hold myself accountable?
Chapters
00:00 Introduction and Overview
07:09 Avoid These Habits During Bankruptcy
09:38 Recognizing Triggers and Managing Financial Situations
14:37 Overcoming Blame and Self-Sabotage
17:15 Implementing New Habits for Financial Health
Find out more about my next workshop Thriving Together: A 1/2 Retreat for Mums and Teen Daughters by clicking here
Want more? You can check out my website for more free resources or follow me on Instagram or Facebook.
Disclaimer: The information contained on today’s podcast has been provided as general advice only. The contents have been prepared without taking into account your objectives, financial situation or individual needs. Before making any decision regarding the information, strategies or products mentioned on today’s episode, please consult your own financial advisor or other professional first.
Want More? Click here to save your spot in my free masterclass
REBUILDING AFTER BANKRUPTCY: Your Step By Step Success Plan
Spots are limited so don't miss out.
Summary
Louisa Larado shares her personal experience of going through bankruptcy and the habits she formed during that time. She discusses the negative habits of scarcity spending, overspending, ignoring bills, blaming others, and self-sabotage. She also provides five positive habits to adopt: taking one small action each day, dedicating 30 minutes to train the mind, spending from a place of gratitude and abundance, taking charge of finances, and finding a role model. She emphasizes the importance of implementation intentions and offers journal prompts for self-reflection.
Takeaways
- Scarcity spending, overspending, ignoring bills, blaming others, and self-sabotage are negative habits that can hinder financial recovery after bankruptcy.
- Positive habits to adopt include taking one small action each day, dedicating 30 minutes to train the mind, spending from a place of gratitude and abundance, taking charge of finances, and finding a role model.
- Implementation intentions, such as writing down when, where, and what time a habit will be performed, can significantly increase the likelihood of following through.
- Self-reflection and tracking progress are important for personal growth and financial improvement.
Journal Prompts
- What financial habits have I engaged in that have negatively impacted my financial situation? How did these habits make me feel, and what were the consequences?
- What situations or emotions trigger my urge to underspend/overspend or make financial decisions that aren't in my best interest? How can I recognize and manage these triggers?
- What are three positive financial habits I can start implementing today to improve my financial health? How will I track my progress and hold myself accountable?
Chapters
00:00 Introduction and Overview
07:09 Avoid These Habits During Bankruptcy
09:38 Recognizing Triggers and Managing Financial Situations
14:37 Overcoming Blame and Self-Sabotage
17:15 Implementing New Habits for Financial Health
Find out more about my next workshop Thriving Together: A 1/2 Retreat for Mums and Teen Daughters by clicking here
Want more? You can check out my website for more free resources or follow me on Instagram or Facebook.
Disclaimer: The information contained on today’s podcast has been provided as general advice only. The contents have been prepared without taking into account your objectives, financial situation or individual needs. Before making any decision regarding the information, strategies or products mentioned on today’s episode, please consult your own financial advisor or other professional first.
Previous Episode

My Bankruptcy Recovery Roadmap: The Exact Steps to Get Back On Track
Important Links
- Get your free downloadable Financial Recovery Roadmap here.
- Register for my free Masterclass Rebuilding After Bankruptcy: Your Step By Step Success Plan here.
- Listen to Practical Tips to Improve Your Credit Score After Bankruptcy here.
- Read the Barefoot Investor by Scott Pape
Summary
In this episode, the Louisa Larado shares her personal experience and provides a step-by-step approach to recovering from a financial setback such as bankruptcy. The first and most important step is to work on your mindset when it comes to money. This involves focusing on what you can control and practicing gratitude. Surrounding yourself with supportive and positive influences is also crucial. Other steps include assessing your financial situation, creating a realistic budget, monitoring your credit score, increasing your income through side hustles, educating yourself about personal finance, avoiding common financial pitfalls, and planning for the future.
Chapters
00:00 Introduction and Overview
03:19 Step 2: Focusing on What You Can Control
05:09 Step 3: Practicing Gratitude
09:46 Step 4: Surrounding Yourself with Supportive Influences
26:41 Step 7: Increasing Your Income
30:26 Step 8: Educating Yourself about Personal Finance
35:35 Step 9: Avoiding Common Financial Pitfalls
40:15 Step 10: Planning for the Future
Takeaways
- Work on your mindset when it comes to money by focusing on what you can control and practicing gratitude.
- Surround yourself with supportive and positive influences.
- Assess your financial situation and create a realistic budget.
- Monitor your credit score and avoid unnecessary debt.
- Increase your income through side hustles and educate yourself about personal finance.
- Avoid common financial pitfalls and regularly review and adjust your financial plan.
- Plan for the future by setting long-term financial goals.
Find out more about my next workshop Thriving Together: A 1/2 Retreat for Mums and Teen Daughters by clicking here
Want more? You can check out my website for more free resources or follow me on Instagram or Facebook.
Disclaimer: The information contained on today’s podcast has been provided as general advice only. The contents have been prepared without taking into account your objectives, financial situation or individual needs. Before making any decision regarding the information, strategies or products mentioned on today’s episode, please consult your own financial advisor or other professional first.
Next Episode

Rebuilding Confidence After Bankruptcy
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Ready to rebuild your financial confidence? Click here to join our waitlist for the Bankruptcy Breakthrough Blueprint program and take the first step toward a brighter financial future.
Episode Summary
In this powerful episode, Louisa Larado dives deep into the emotional and psychological impacts of bankruptcy and shares effective strategies to start rebuilding your financial confidence. Through her personal journey and professional insights, Louisa offers practical steps to help you regain trust in yourself and your ability to handle money.
Key Points Discussed
- Louisa opens up about the stress, worry, and loss of confidence that often accompanies bankruptcy.
- The early stages of financial recovery are filled with fear and cautiousness, as Louisa recounts her sleepless nights and disagreements with her husband about their financial future.
- Louisa discusses the overwhelming nature of rebuilding from bankruptcy and highlights the importance of setting clear financial goals and stepping past the guilt and shame associated with financial failure.
- Louisa underscores the limits of relying on a single investment strategy and the need to explore multiple avenues for financial growth.
- The impact of financial stress on an individual's well-being and their family is profound. Louisa shares techniques for handling these emotional challenges and rebuilding a positive money mindset.
- By recognizing the cycle of stress and fear, Louisa explains how shifting one's mindset can pave the way for better financial management and stability.
- Louisa shares her journey toward creating a more empowering narrative around money, aiming to be a better role model for her children.
- Louisa provides actionable steps to help listeners rebuild their confidence and regain control over their finances, fostering a healthier and more empowered money mindset.
Actionable Takeaways
**Expand Your Financial Education:** Don't rely on a single strategy. Educate yourself on various financial management techniques to diversify your approach.
**Address Emotional and Psychological Effects:** Recognize the emotional impact of financial stress and take steps to heal and build a positive mindset.
**Set Clear and Achievable Goals:** Create detailed financial goals that allow you to track progress and stay motivated.
**Communicate and Collaborate:** Work together with your partner to align on financial strategies and reduce stress and disagreements.
Find out more about my next workshop Thriving Together: A 1/2 Retreat for Mums and Teen Daughters by clicking here
Want more? You can check out my website for more free resources or follow me on Instagram or Facebook.
Disclaimer: The information contained on today’s podcast has been provided as general advice only. The contents have been prepared without taking into account your objectives, financial situation or individual needs. Before making any decision regarding the information, strategies or products mentioned on today’s episode, please consult your own financial advisor or other professional first.
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