Stick Like Glue Radio #125 On this episode of Stick Like Glue Radio I interview entrepreneur Joan Sotkin, author, coach, and business women who has helped thousands of people understand why they do what they do with their money and how to alter their financial behaviors. This is a nugget rich and money saving show – do not miss it!
On this episode of Stick Like Glue Radio I interview entrepreneur Joan Sotkin, author, coach, and business women who has helped thousands of people understand why they do what they do with their money and how to alter their financial behaviors. This is a nugget rich and money saving show – do not miss it!
Main Questions Asked
Can you share your backstory with us?
Why do some people make a lot of money and others remain in the same position struggling?
Do you agree with the message in the movie ‘The Secret?’
Why do you think that money is an emotional experience?
What can people do to make a change in their emotional relationship with money?
How can you identify which of your emotions are acting through money?
What advice can you give people who have fear due to the financial condition of America?
Key Lessons Learned
A lot of what we learn about money comes from our parents
The goal is to be financially and emotionally comfortable
You have to change your thoughts. If you don’t know how to deal with money it wont happen or last
Everything we do has an emotional base
Emotions is the bridge between our internal and external world
Emotion is the root and money is the mechanism
Emotional issues are formed in early childhood are the thread affecting the fabric of the life you are weaving
To change your emotional relationship with money you need to understand the relationship with yourself
When you open a bill try closing your eyes and feel the kinesthetic experience of emotion in your body
A lot of ‘making money’ is linked to what you are capable of and what you think you deserve
When it comes to money; gross is for vanity and net is for sanity
Money itself is not emotional its just pieces of paper
Money is just a symbol of relationships
Money is a great base for personal growth and development
Learn how to manage your money as it gives you a sense to take care of yourself
When you feel uncomfortable with your money its because you feel uncomfortable with yourself
Craving money is exactly the same feeling as craving love
Feelings and Fear
Ask yourself: What am I feeling? When did I feel this before?
Feelings are habits and a “song you learned to sing”
The basis of trading on the stock market is fear and greed
If you are afraid of what’s going to happen in the future then you are focused on the future and not the present
When you feel fear ask yourself “what is my situation today? Do I have enough to eat? Do I have a place to stay? What can I do today that will protect myself tomorrow?
When you are in fear you get stupid and can’t make good decisions
You can’t have a successful business if you have a failure identity
If you don’t recognize the difference between a success identity and a failure identity any business knowledge wont make your business a success
If having money doesn’t fit your self concept you will do anything to make it go way as it doesn’t ‘feel like you’