Getting Over Financial Guilt with Phillip Ramsey and Bryan Dewhurst

Episode 37:

Money is deeply personal. When you go through a tough time and make a decision that winds up costing you money or just don’t pay close enough attention to where your money is going – that can create a sense of financial guilt.

We don’t get this sense of guilt out of nowhere. And yet, at least in North America, it is not a topic that gets discussed very openly.

In our most recent episode, a duo cast, we talk about where this sense of guilt comes from and how to get beyond it. There will be a path forward for you and often it can happen more quickly than you think.

So much of our context and understanding of money comes from our upbringing, how we saw our parents handle money, how they maybe even fought about money. Money is a huge topic, especially in relationships, and especially as we look backward to our past. This looking back can have a lot of impact on our financial shame and financial guilt. So let’s start looking forward.

When we work with people, they are often surprised when we help them see a path forward that is both hopeful and much quicker than they imagined. It does take discipline and planning, but guilt is counter-productive. We’ll share our perspective and tips you can use today for getting out of debt and creating wealth now and in the future.

What You Will Learn in this Episode:

  • How to remove guilt from the equation and work on your financial present and future
  • Getting beyond a mindset of failure
  • Why you need a financial strategy beyond paying off debt
  • Why asking for help is a great first step beyond financial guilt
  • Tangible acts you can do right now to know your numbers
  • Why it’s so important to know your personal profit every month
  • How to build up your emergency fund
  • Building cash flow beyond your monthly expenses
  • Where to find encouragement to get beyond financial guilt
“The times when you are struggling the most are the times you have to dig in the deepest and are the most character building times of your life. The challenge is to understand the values and principles that I can start learning today in this… Click To Tweet “I don't think people appreciate that when you put your money in a retirement plan, you're losing the use and control of it for what you want to accomplish now.” – Bryan Dewhurst Click To Tweet “You could be a millionaire in your 401k and still feel broke as a joke.” – Phillip Ramsey Click To Tweet “Failure with money is extremely painful. But you've got to put that in the rearview mirror and understand what you're passionate about. That's actually how you unlock your ability to make more money.” – Bryan Dewhurst Click To Tweet “The number one thing that we want you to get out of the budget is what your profit is every month.” – Phillip Ramsey Click To Tweet “If you want to retire sooner and get out of the rat race, you have to treat your personal budget like a business. Knowing what you are spending and saving is a good start.” – Bryan Dewhurst Click To Tweet “Our number one goal in investing for our clients is cash flow and trying to get them to have that income of cash flow exceed their monthly expenses.” – Phillip Ramsey Click To Tweet “Warren Buffet is obviously very smart when it comes to investing. But he started on third base. Most people don’t have the leg up and cash flow to take the investment risks Warren Buffet takes.” – Bryan Dewhurst Click To Tweet “Once you love what you do and are getting paid for it, you don't really want to stop doing it.” – Phillip Ramsey Click To Tweet “You need to monetize what you're passionate about. And then at the end of the day, you've got to have a budget.” – Bryan Dewhurst Click To Tweet