GMR 98: Identifying the Root Causes of Financial Problems

Episode 98
Every financial decision is, at least in part, an emotional decision. Have you ever spent money on something and later experienced regret? That’s because sometimes, our choices are reactionary, not consciously understood, or controlled. In this episode of GMR, we address the root issues that often cause our financial problems so that you can experience freedom in your finances.

SHOW NOTES

3 major components of a person; actually 4:

  • Mental (mind)

  • Emotional (soul)

  • Physical (strength)

  • Spiritual (heart)

The way we approach our financial problems

Outcomes -> Behaviors -> Beliefs

 

The way we should approach our financial problems

Beliefs -> Behaviors -> Outcomes 

  • Imagine having weeds in your yard. The briars, spikey leaves, and ugly yellow flowers are an indication that there is a root system underneath that needs to be dealt with.

  • Imagine a really healthy apple tree, it’s only healthy and producing fruit because it has a good root system.

 

Good Fruit:

  • Savings Goals

  • House-down payment

  • Debt Free

  • Peace

  • Patience before a purchase

  • Self-Control

  • Generous

  • Budget

  • Legacy Plan

  • Personal Business

  • Working in Your Identity & Calling

  • Investing

  • Kids college saving

 

Do you see patterns of struggle or pain?

Do you exhibit symptoms of pain?

Are there areas of weakness you can’t seem to overcome

 

Bad Fruit:

  • Arguing and Fighting over Money

  • Consumer Debt

  • Credit card debt

  • Car Debt

  • No Budget

  • Impulse Purchases

  • Owning tons of stuff (materialism)

  • Hoarding

  • Always run out of money before the end of the month

  • Not having any savings

  • Not having medical insurance

  • Not having any kind of future investments

 

 

Self-image is at the root of most of our financial problems.

Poor self-image leads to the following bad roots in your life:

 

Insecurity

  • Use of material items to feel better.

  • Hide insecurity by using money to convey your value.

  • Need status symbols to prove your self-worth.

    • Diving certain car.

    • Living in a certain area.

    • Brand name is emphasized (not for value, but for status).

  • Hoarding and buying and owning tons of stuff (materialism).

  • Driving a super nice car, to show people you’re doing well.

  • Driving a super old and ghetto car, to save money because you’re finding your security in having savings.

Pride

  • Arrogant spirit 

    • I deserve what I want when I want it.

    • Uses money to add status symbols into life.

    • Uses money as a measuring tool for success.

    • David Example: Clothing, identifying others based on clothing and choosing not to be in a relationship or help them.

    • Leo Example: My first car. I didn’t listen to good counsel from my dad because I was thinking about how cool I would look and how my friends would react.

 

Fear

  • Fear of failure.

  • Fear of not being accepted.

  • Fear paralyzes.

  • Fear that causes you to miss great opportunities.

 

Idolization:

  • Definition: extreme admiration, love, or reverence for something or someone.

  • American Idol | American Dream | Pop Culture | “The Rich.”

  • Imagining your life would be better than someone else.

  • Putting someone on a pedestal and worshipping that person’s life, which in turn causes you to do what they do; wear what they wear, drive what they drive, etc.

  • Low Self Worth.

RESOURCES

Budgeting and Debt Elimination Tools
Jesus on Money by David Thompson - stewardshippastors.com

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