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Stress Awareness Month Part III: Money!

Welcome back to Consider Yourself Hugged! Click below to watch, or Click here to listen to Episode 164.


 

Hi Friends!

Today is one of those days where AI is going to be a HUGE help to me! It's Tuesday at 4:00. I have 2 big events tomorrow. I've been out of town. I recorded the podcast today in between virtual events. So now if I don't take my notes and let AI organize them, show notes will be nonexistent. So here goes - My material in an AI voice 😁 Thanks for your grace!!


Welcome to [Your Podcast Name], the show that dives deep into the challenges we face in life and how we can overcome them. In this episode, we'll explore the intricate relationship between women, money, and stress.

 

 Attending the MHFA Summit

I recently attended the Mental Health First Aid Summit, which was a phenomenal experience. Let's talk about the practicalities and financial considerations of attending such events, as it sets the stage for our main topic.

 

 Financial Decisions Behind Attendance:

- The summit was complimentary, which significantly influenced my decision to participate.

- The location was within driving distance to St. Louis.

- I managed expenses for a rental car and gas.

- Accommodation was provided, a relief for the budget.

- Meals were included, always a nice perk.

- Despite an opportunity for evening networking, I skipped due to an early event on Monday and to avoid additional hotel costs—highlighting the question of whether financial concerns hold us back.

 

Personal Reflections on Money

Growing up with financial instability can leave a lasting impact. Here are some reflections on how a poor understanding of money can affect decisions and stress levels:

 

- My childhood in poverty taught me that money was something to be spent immediately.

- I witnessed a cycle of poverty when $50,000 was received and quickly dissipated on fast food, small trips, and material things.

 

Understanding Poverty

We'll delve into Dr. Ruby Payne's book, "A Framework for Understanding Poverty," which provides invaluable insights into the mindset shaped by economic struggles.

 

 Stress and Finances: A Gendered Issue

- We revisit the "Stress in America Report" to discuss how, while finances are a top stressor, they often remain an undiscussed topic.

- Only 52% of adults are comfortable discussing money, and 45% feel embarrassed by it.

- Women, in particular, feel more consumed by financial worries than men, with a significant number stressing over essentials and unexpected expenses.

 

My Financial Journey

I'll share my personal financial highs and lows, hoping to offer both cautionary tales and strategies for success.

 

 Successes:

- Employment from the age of 16.

- Purchased a car independently at 17.

- Initiated a money market and IRA in my first marriage.

- Paid off debt using the envelope method as a single mom.

- Utilized government assistance during a transitional phase.

 

 Mistakes:

- Financed unnecessary items in my first marriage.

- Financial crises

- Halted IRA contributions post-divorce.

- Did not save for my children's education.

- Allowed worry to prevent action.

 

Practical Tips to Minimize Financial Stress (From Women are Stressed About Money)

To conclude, we'll discuss three crucial steps you can take to reduce financial stress:

 

1. Save for emergencies to cushion against unforeseen expenses.

2. Save for retirement to secure your future.

3. Plan and think ahead, especially for significant life events.

 

Interactive Segment: Dr. Ruby Payne's Quizzes (forgive the poor quality pictures!!)

We'll engage with Dr. Ruby Payne's thought-provoking quizzes:


Could you survive in poverty?






Could you survive in middle class?








Could you survive in wealth?






Assess your own financial understanding and attitudes.

 

Understanding and managing money is crucial, especially for women who may experience greater financial stress. Let's reflect on our relationship with money and take proactive steps to secure our financial well-being.


I hope this has been helpful today, and thank you for joining! As I've always asked in the past, please pass the show link along to your friends and subscribe, download, and review wherever you are listening. If you’re a woman and you haven’t joined our private FB group A Place for Women, please do that now! It’ll be your source of encouragement. I'd love for you to follow my Tami West Seminars Facebook page as well. And until next time, Consider Yourself Hugged 😘🤗


*Disclaimer:

The information in this show is not intended to be therapy or to address your individual situation. It is information based on experiences, opinions, and research. If you need further help, please reach out to one of the resources below, or others in your area.


Mental Health Resources:








Tami West, PhD

Stress and Mental Health Expert Dr. Tami West uses her entertaining and compelling style to shine a new light on how to transform your life and discover solutions to life’s challenges.

Tami has worked in a variety of industries including healthcare, school nutrition, corporate sales, and 10 years as a public-school teacher. In 2013 she received her PhD in Human Development, studying the connections among stress, emotions, and identity.

Dr. West has spoken in 48 states across the US, as well as the United Kingdom, Australia, and New Zealand. In any given year, Tami speaks to groups with audiences consisting of anywhere from 100 to 3,000 people.


Dr. West is the author of several successful publications including three books: The Stress Club, Life Without the Monsters and Thrive. When she's not speaking or writing, you might find her with her traveling with her husband and family, reading historical fiction, or watching Big Bang Theory.


Tami connects with audiences through real experience, cutting edge research, and transparent stories – all sprinkled with humor! She will make you laugh, cry, and shine a refreshingly new light on life's challenges.


Television Interviews


Contact Tami at tamiwest@tamiwest.com or follow her at Tami West Seminars. 




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