Artwork for podcast Money Talk With Tiff
Breaking Free from Financial Shame and Guilt | Ep. 296
Episode 296 • 23rd January 2024 • Money Talk With Tiff • Tiffany Grant
00:00:00 00:11:59

Share Episode

Shownotes

Are you grappling with feelings of financial shame or guilt? In this heartfelt episode of Money Talk With Tiff, Tiffany Grant tackles the sensitive topic of overcoming financial shame and the emotional weight of past spending mistakes.

With compassion and understanding, Tiffany walks listeners through a step-by-step guide to acknowledging and using these feelings as a catalyst for positive change.

From exploring the roots of your money habits to setting realistic goals, Tiffany provides actionable advice on gaining control over your finances. If you're ready to face your financial fears head-on and embrace a future of financial confidence, this episode is a must-listen.

Don't forget to rate, review, subscribe, and share this episode with anyone who might be struggling with similar issues.

Connect with Tiffany

Website: https://moneytalkwitht.com

Facebook: Money Talk With Tiff

Twitter: @moneytalkwitht

Instagram: @moneytalkwitht

LinkedIn: Tiffany Grant 

Key Takeaways

  • Financial shame and guilt - Acknowledging and overcoming negative emotions.
  • Understanding money habits - Identifying spending and saving patterns.
  • Setting realistic goals - Creating achievable financial targets.
  • Creating a budget - Allocating funds based on goals.
  • Educating yourself - Knowledge as a tool to empower.
  • Seeking help - Utilizing financial counseling or therapy.
  • Facing financial challenges - Confronting issues to break the cycle.

Additional Links & Resources

Support this Podcast

Copyright 2024 Money Talk With Tiff



This podcast uses the following third-party services for analysis:

Chartable - https://chartable.com/privacy

Transcripts

Speaker:

Intro/Outro: You know what it is. That's right. It's time to talk

Speaker:

money with your money nerd and financial coach.

Speaker:

Now tighten those purse strings and open those

Speaker:

ears. It's the money talk with Tiff.

Speaker:

podcast.

Tiffany Grant:

Hey, hey. And welcome to another episode of Tiffany's take,

Tiffany Grant:

where I answer your questions right here on the

Tiffany Grant:

podcast. So, if you want your question answered, just go

Tiffany Grant:

to

Tiffany Grant:

Tiffany, and I'll be more than happy to answer for you.

Tiffany Grant:

So, for today's episode, I had quite a few

Tiffany Grant:

conversations this past week, with some new

Tiffany Grant:

clients, and they mentioned

Tiffany Grant:

multiple, of them, mentioned that they

Tiffany Grant:

had shame when it came to their finances.

Tiffany Grant:

And so I wanted to make an episode to

Tiffany Grant:

address that in case you are experiencing the

Tiffany Grant:

same. If you feel guilty or

Tiffany Grant:

shameful about past spending behaviors

Tiffany Grant:

or things like that. I just wanted to give you

Tiffany Grant:

some information and some tips that can help you

Tiffany Grant:

try to get over that. So, first

Tiffany Grant:

and foremost, I want you to acknowledge those feelings. And

Tiffany Grant:

that's one thing that I worked with my clients this past week

Tiffany Grant:

on. Whoever said that they had shame or

Tiffany Grant:

guilt, I said, okay, let's explore that. So,

Tiffany Grant:

the first step in overcoming financial shame is just acknowledging

Tiffany Grant:

it. It's okay to feel embarrassed or guilty about

Tiffany Grant:

past financial decisions. What's important is to not

Tiffany Grant:

let these feelings paralyze you, but to use them as

Tiffany Grant:

motivation to improve. I had the same

Tiffany Grant:

feeling when I started out on this financial journey.

Tiffany Grant:

back when I decided to get serious, it was because

Tiffany Grant:

I went to a bank and I got denied for a credit

Tiffany Grant:

card, and I wasn't even asking for that much.

Tiffany Grant:

And I felt so shameful and

Tiffany Grant:

so, like, why am I not doing

Tiffany Grant:

better? That's exactly how I felt. But instead

Tiffany Grant:

of letting it get me down, I used that

Tiffany Grant:

fuel as motivation. And, I'm not going to go into

Tiffany Grant:

the whole story today, but long story short, I went

Tiffany Grant:

back to that same credit union, got the same lady, a, ah,

Tiffany Grant:

year later with that extra confidence that I

Tiffany Grant:

needed. So, it's okay

Tiffany Grant:

to feel shame or be guilty about your

Tiffany Grant:

finances? It's okay. But don't let it paralyze

Tiffany Grant:

you. Acknowledge the feeling, and then use

Tiffany Grant:

it as fuel to keep pushing forward.

Tiffany Grant:

So the next thing that you want to do is understand your

Tiffany Grant:

money habits. So, okay, you acknowledge your feelings. Now,

Tiffany Grant:

take some time to understand your spending and saving habits.

Tiffany Grant:

Are you an impulse buyer? Do you struggle with

Tiffany Grant:

saving? Understanding your behaviors can help you

Tiffany Grant:

identify what's causing the financial stress

Tiffany Grant:

and shame. I've worked with clients before,

Tiffany Grant:

and they come to me most of the time

Tiffany Grant:

about credit card debt. And I'm

Tiffany Grant:

like, okay, so why do we feel like we

Tiffany Grant:

need to use a credit card? And the answers

Tiffany Grant:

vary. One person, they're like, well, this is what I know.

Tiffany Grant:

This is what I grew up seeing. And

Tiffany Grant:

this was, like, the norm in my household. And then other

Tiffany Grant:

people are like, well, I know I spend because it

Tiffany Grant:

makes me feel better. so

Tiffany Grant:

why does it make you feel better? Really

Tiffany Grant:

understand why you're operating the way you do? Because, like

Tiffany Grant:

I say all the time, money is not

Tiffany Grant:

really physical. It's more psychological, and

Tiffany Grant:

it's more mental than most people know. So

Tiffany Grant:

try to understand why your spending habits are the way that

Tiffany Grant:

they are. Next, you want to set

Tiffany Grant:

realistic goals. That's another thing

Tiffany Grant:

that causes shame as well, or causes

Tiffany Grant:

you to feel guilt or feel like you're not doing

Tiffany Grant:

enough or not making is because the goals that you're

Tiffany Grant:

setting are not realistic for your situation.

Tiffany Grant:

So setting achievable financial goals can help

Tiffany Grant:

motivate you to make better financial decisions. So whether

Tiffany Grant:

that's paying off your debt, saving for vacation,

Tiffany Grant:

building an emergency fund, having that

Tiffany Grant:

target that's realistic, can provide a sense of

Tiffany Grant:

purpose and direction for you. And this is one of

Tiffany Grant:

the first things that we talk about. If anybody has ever had

Tiffany Grant:

a consultation call with me, I always

Tiffany Grant:

ask, what is your most important goal right

Tiffany Grant:

now? And I really, actually like to ask, what's the top

Tiffany Grant:

three? And another thing is,

Tiffany Grant:

if you struggle with figuring

Tiffany Grant:

out what those goals are, because maybe you're in a situation

Tiffany Grant:

where it's really dire and you can't figure it

Tiffany Grant:

out, and, you get in that negative

Tiffany Grant:

autopilot, because I've had clients come on the line and they're,

Tiffany Grant:

like, crying because of their financial situation.

Tiffany Grant:

Don't even bother asking yourself,

Tiffany Grant:

what are your financial goals? Just dream for a little

Tiffany Grant:

bit. Act like your life is

Tiffany Grant:

perfect, right? In a perfect

Tiffany Grant:

situation, what does that look like for you?

Tiffany Grant:

And as you write that down or as you talk that

Tiffany Grant:

out in a voice note or something, you'll realize

Tiffany Grant:

what your goals are in that. So if

Tiffany Grant:

setting or asking yourself goals is

Tiffany Grant:

triggering for you, take that approach, because that can

Tiffany Grant:

also help you get to what you really want.

Tiffany Grant:

Okay. All right. So after you do that, the next step

Tiffany Grant:

is creating a budget. So a budget is a powerful

Tiffany Grant:

tool that can give you control over your money. So first,

Tiffany Grant:

start by tracking your income and expenses, and

Tiffany Grant:

then you can start doing the actual

Tiffany Grant:

budgeting piece. So allocating funds to different

Tiffany Grant:

categories like rent, groceries, and entertainment,

Tiffany Grant:

remember that your budget should reflect your financial goals.

Tiffany Grant:

That's why we're going in this order. Don't skip

Tiffany Grant:

to a budget when you haven't done the last three

Tiffany Grant:

things I talked about, because it's not going to

Tiffany Grant:

work. Honestly, you need to know all of these

Tiffany Grant:

things that we've already talked about first before you

Tiffany Grant:

dive into making that spending plan or a budget.

Tiffany Grant:

Otherwise, honestly, you are setting yourself up

Tiffany Grant:

for failure. I'm just going to be real with you, because if you don't

Tiffany Grant:

have a target, how do you know where you want your money to

Tiffany Grant:

go? How do you know what you want the money to

Tiffany Grant:

do? And so that's why you hit all the other steps

Tiffany Grant:

first, and then you get to creating a budget. And

Tiffany Grant:

personally, right now, I'm using ynab, so you

Tiffany Grant:

need a budget, and I'll have a link in the show notes for

Tiffany Grant:

that. But I really like that app because

Tiffany Grant:

it takes a different approach to budgeting. So

Tiffany Grant:

instead of just doing line items, you actually have to

Tiffany Grant:

fund those line items with real money that you have

Tiffany Grant:

in your account. And so, you know, you can't spend on

Tiffany Grant:

something unless it's a funded line

Tiffany Grant:

item. So I do like it in that respect because

Tiffany Grant:

it makes it a little easier to budget, in my

Tiffany Grant:

opinion. and so I can do a whole other episode

Tiffany Grant:

about how I use why nab. But, it's

Tiffany Grant:

really good for that purpose. So I'll make sure I have a link in the show notes for

Tiffany Grant:

that. Number five, make sure you educate yourself,

Tiffany Grant:

okay? That's why you hear, right?

Tiffany Grant:

That's why you follow money talk with Tiff. Because I'm here to

Tiffany Grant:

provide education. Knowledge is

Tiffany Grant:

power. And the more you understand about

Tiffany Grant:

personal finance, the less intimidating it

Tiffany Grant:

will seem. That's another cause

Tiffany Grant:

of shame around finances. A lot of people that come to

Tiffany Grant:

me, they're like, oh, my gosh, Tiffany, I don't know anything

Tiffany Grant:

about money. I'm horrible with, suck. You

Tiffany Grant:

know, all of this negative self talk, and my

Tiffany Grant:

thing is, you know more than your kids or you know

Tiffany Grant:

more than your nieces and nephews, so you know something,

Tiffany Grant:

so give yourself some credit. because if

Tiffany Grant:

you were talking to a friend right now, you wouldn't

Tiffany Grant:

have this same, you wouldn't tell your friend, oh, you don't

Tiffany Grant:

know anything about money. Oh, you suck. You

Tiffany Grant:

wouldn't be telling your friend that. So don't tell yourself

Tiffany Grant:

that. So continue to tap into the

Tiffany Grant:

podcast, continue to read the articles on the blog.

Tiffany Grant:

I've been pumping out articles, a lot of

Tiffany Grant:

articles. So make sure you check out the

Tiffany Grant:

website. I also have a course

Tiffany Grant:

on my website called budget Nirvana, which

Tiffany Grant:

if you really struggle with

Tiffany Grant:

all the things that I talked about before.

Tiffany Grant:

So acknowledging your feelings, understanding your money

Tiffany Grant:

habits, setting realistic goals, and creating a budget, that

Tiffany Grant:

course covers all of that. So I'll make sure I have a link in the show

Tiffany Grant:

notes for that as well. and this month, I'm actually doing a

Tiffany Grant:

special. It's only $97. So

Tiffany Grant:

after that, then if you still

Tiffany Grant:

are feeling overwhelmed and you still

Tiffany Grant:

are, like, I just need some help. Get help.

Tiffany Grant:

You all for real? seek help from either

Tiffany Grant:

a financial counselor like myself or financial

Tiffany Grant:

therapist, because this is what we specialize in,

Tiffany Grant:

okay? We specialize in helping

Tiffany Grant:

people figure out what their money story

Tiffany Grant:

is, figure out what is causing

Tiffany Grant:

them to either overspend or

Tiffany Grant:

underspend, and then work on

Tiffany Grant:

goals, create a plan, all these different

Tiffany Grant:

things to help you take it to the next level, and to stop

Tiffany Grant:

running on a hamster wheel. So we specifically help

Tiffany Grant:

with these issues. So if financial

Tiffany Grant:

stress or financial shame

Tiffany Grant:

or guilt, financial trauma, all

Tiffany Grant:

of these things can be addressed with a financial

Tiffany Grant:

therapist or a financial counselor. And we're here to help you.

Tiffany Grant:

So, definitely utilize those services if you are

Tiffany Grant:

interested in working with me. I'll make sure I have that link

Tiffany Grant:

in the show notes as well. So those are

Tiffany Grant:

my tips for overcoming financial shame and

Tiffany Grant:

financial guilt. Y'all don't take

Tiffany Grant:

the ostrich approach and just dig your

Tiffany Grant:

head in the sand, because at the end of the day,

Tiffany Grant:

you have to face these things head on. And even if

Tiffany Grant:

it's painful, mind you, it's

Tiffany Grant:

only temporary. It's only temporary.

Tiffany Grant:

Once you get all of these things under your belt,

Tiffany Grant:

you face the facts. You looking

Tiffany Grant:

at your financial situation, that is

Tiffany Grant:

when you can start dealing with it. If

Tiffany Grant:

not, it's just going to be the same cycle, over and

Tiffany Grant:

over and over again. And I know you want to get off of

Tiffany Grant:

that. I know I got off of that, right? Because

Tiffany Grant:

it was horrible. I was tired of working

Tiffany Grant:

multiple jobs. I was tired of living.

Tiffany Grant:

Refund, check to refund, check. Not even check to

Tiffany Grant:

check. Refund, check to refund, check. I would

Tiffany Grant:

have to sit there and pay up, my rent

Tiffany Grant:

for six months or so at a time when I got my tax

Tiffany Grant:

refund, because I was like, at least we'll have a roof

Tiffany Grant:

over our head. I had to use toys for

Tiffany Grant:

tots and other government programs and things like

Tiffany Grant:

that because I was stuck in that cycle. I

Tiffany Grant:

felt scared, I felt shame, I felt guilt, and I

Tiffany Grant:

ignored it for a very long time. And I will

Tiffany Grant:

tell you now that I'm on the other side of that.

Tiffany Grant:

Life feels good. And I'm not saying

Tiffany Grant:

that my finances are perfect, because they're

Tiffany Grant:

not. But it does feel

Tiffany Grant:

better when you're able to address these

Tiffany Grant:

things and have one less thing on your mind, because we

Tiffany Grant:

all deal with so much. So anyway, I'll get off

Tiffany Grant:

my soapbox. Make sure you check out the show notes because I'll have

Tiffany Grant:

all that information there. And if you are interested

Tiffany Grant:

in me answering your money question,

Tiffany Grant:

go to forward slash

Tiffany Grant:

xtiffany and I'll be more than happy to answer.

Tiffany Grant:

So make sure oh, also

Tiffany Grant:

rate review subscribe

Tiffany Grant:

I know I sound like a youtuber, but this stuff is

Tiffany Grant:

so important when it comes to, the

Tiffany Grant:

podcast because it helps other people find us as well.

Tiffany Grant:

So share this episode if you know someone that's dealing with the same

Tiffany Grant:

thing, rewind it back if you need to.

Tiffany Grant:

We are here to help you. I'm here to give you

Tiffany Grant:

this information and I appreciate you

Tiffany Grant:

listening. So until next time,

Tiffany Grant:

bye.

Tiffany Grant:

Intro/Outro: Thank you for listening, joining and, being a part of the Money Talk

Tiffany Grant:

with TIFF podcast this week. You can check TIFf out

Tiffany Grant:

every Thursday for a new Money Talk podcast. But

Tiffany Grant:

if you just can't wait until next week, you can listen to

Tiffany Grant:

previous podcast

Tiffany Grant:

episodes@moneytalkwitht.com

Tiffany Grant:

or follow TIFf on all social media

Tiffany Grant:

platforms at moneytalkwitht. Until

Tiffany Grant:

next time, spend wise by spending less than

Tiffany Grant:

you make a word to the moneywise is always

Tiffany Grant:

sufficient.

Chapters

Video

More from YouTube