LEONOR HERRERA

Retail therapy is the term used to describe shopping as a distraction from things that make us anxious. A diversion from whatever is causing problems in life. Sounds sort of fun and sort of dangerous, doesn’t it?

It is.

Doing any activity to distract or numb negative feelings totally unrelated to the activity causes double for your trouble. The term eating your feelings comes to mind. Eating the wrong foods to stop anxiety causes weight gain… and more anxiety. Shopping to distract oneself from problems causes debt... and more problems.

Can retail therapy ever be a good thing?

Actually, yes.

If you are one of the millions of people who love the hunt for a bargain, or designing or decorating a home or your body, shopping can be an exhilarating experience. If holding a shopping bag is your thing, then there isn’t anything wrong with finding pleasure in shopping. They key is to be intentional and responsible with your habit, umm… your shopping.

Here’s...

What we think about, we bring about. What we speak, we create. It’s that simple. The things we think and the things we say determine our outcomes in life. If we speak doom and gloom, that’s what we will find. If we speak life and love…. we find it too.

In this moment, you may have a bank account in the red and feel under employed and over extended. Your reality might look bleak and hopeless, but what you say about your reality determines your future. Sure, things may seem dire, but you can do something that doesn’t cost a dime to change things. Stop having these two conversations about money:

1. Stop saying there’s not enough.
2. Stop blaming your lack on someone or something else.  

It’s possible there’s not enough at this moment. I know that you can list a bunch of reasons why your lack is connected to someone or something else but leaning into those conversations is keeping you tied to their realities.

Stop...

There are “laws” of the universe that don’t make sense in the natural. Gravity is a law that makes sense when you are within Earth’s atmosphere but doesn’t seem to apply in space. Another law is generosity - how giving things away actually creates more. It might not make sense in the context of living paycheck to paycheck but being generous no matter how much or how little you have creates wealth.

Generosity creates a synergy that boomerangs and comes back to you in a compounding way. What you put out truly comes back.

Let’s see how:

Generosity creates a kind heart- Giving to others creates kindness between the giver and the receiver. Knowing you are making an impact on someone else creates a warmth and the sort of pride that isn’t selfish - it’s selfless.

Generosity opens eyes- Stingy people filter the world through a lens of lack. They see people in need as, well, needy. They see those who have less as...

Have you heard the story about the fleas in a jar? A flea has the capacity to jump very high and very far. Left to its own devices, a flea has an unimaginable ability to jump considering its size. A little flea with no limits has all the choices in the world right at the end of their good, long jump; however, if you put a flea in a jar and add a lid, the flea will adjust their jump to avoid bonking that lid. Even after the lid is removed, the flea only jumps their modified jump. This is due to the fact the flea believes the lid is there.

Sometimes people are like little financial fleas. They seem to think there is a lid on their financial jar and they will only expand so far to earn. They have every potential in front of them for limitless earning but stop short of the perceived lid for fear of pain.

Let’s take a look at some common reasons people put a lid on their money-making capabilities:

They had a bad experience- The biggest reason someone has a lid...

When taking a deep dive into the lack money mindset, one of the biggest indicators is the belief that working hard is the key to wealth and success. If this were true, slaves would hold all the riches in the world. Working hard does not guarantee wealth.

A wealth mindset sees the value of hard work but doesn’t relegate the work to extended hours or back-breaking feats of strength and endurance. Those with a wealth mindset have adopted the philosophy of working smart, not hard.

Working smart, not hard is a concept that allows for hard work as well as delegation, outsourcing, and maximizing resources in such a way that the goals are met with ease. Let’s take a look at an example:

Example: Tammy’s Bakery. Tammy is a baker who loves to make her grandmother’s recipes. Tammy started a bakery that serves her mid-sized community. In the beginning, Tammy did all the baking as well as all the marketing, ordering, and sales. Initially, it was fun...

When you shop, are you all about getting more for your money, or do you prefer to get the most for your money? In this case, more means quantity - give me all the white tees in my size! Most means quality - give me the very best white tee made no matter the cost.

People tend to fall into two funnels with their shopping - quality or quantity. Let’s take a look at the pros and cons of each.

Pros of a quality-minded spender:

Pro #1. A quality-minded spender is generally patient and willing to wait to find the best possible addition to their home or closet.

Pro #2. A quality-minded spender is more aware of the benefits of construction, good materials, and is looking to make an investment that may cost money up front but saves money in the end.

Pro #3. A quality-minded spender usually has timeless taste that avoids trends; therefore, their purchases outlast fads.

Cons of a quality-minded shopper:

Con #1. Purchases can be time...

Shifting your mindset from a lack mentality to a wealth mentality can feel overwhelming. Generally, people change their behavior when the pain of staying the same is worse than the pain of doing something new. Until then, they go about life doing what they have always done, hoping for different results.

Everyone has that one thing that causes them to change. Whether it is an aha moment or witnessing or experiencing something that makes change necessary. One man’s trigger point is another man’s normal, but we can identify hazards of a lack mentality that might spark the desire for change.

Hazard #1. A lack mentality causes depression. If you have lived with a lack mindset believing that working hard is the only way to wealth, you may be experiencing depression. Chances are you are working harder than most, and you may not be seeing the conversion of work to income. You may also be making money but working so hard that your family barely sees you and you sort...

A wealth mindset isn’t just about money. As a matter-of-fact, most wealth has nothing to do with money at all. Money is a by-product of a wealth mindset. The wealth mindset encompasses every aspect of life - health, relationships, and your overall attitude about people in general.

Let’s look at some examples of wealth that aren’t money related:

A loving family- Having a family who loves you and chooses to spend time with you when there are a million other options is a true testimony to the wealth you have created.

A healthy, functioning body- If you are fit, have excellent mobility, and enjoy an outdoor lifestyle, you are wealthy. Making the choices to eat well, exercise regularly, and be in nature are all examples of making good investments. Just like your money, making smart moves with your health reaps great returns.

High-functioning relationships- If you have friends you can count on and have healthy relationships with people in your...

Generally speaking, your money mindset is like an apple that hasn’t fallen far from the tree. That’s an analogy that often refers to a parent-child relationship. Your money mindset is generally similar to your parents’ as they have a large impact on your thoughts and feelings about money.

Here’s how:

• How they managed their money affected your quality of life as a child
• How they spoke about money affected your thoughts about money
• Your parents’ reactions to financial setbacks made an impression on you whether you know it or not

Here’s why:

How your parents managed money affected your quality of life: Whether you wore hand-me-downs, or your clothes came from the finest stores, this was a direct result of your parents’ thoughts about money. The types of foods you ate and whether or not you ever vacationed as a child was due to your parents’ decisions about their budget. If you lived hand-to-mouth or affluent,...

A wealth mindset is the term used to describe a positive relationship with money. A wealth mindset absolutely includes a clear understanding of your family’s budget and spending habits, but it is much more than profit and loss. A wealth mindset translates to other areas of life, including, but not limited to:

• Health
• Relationships
• Respect for others
• And so much more!

Before we look at the wealth mindset, let’s look at the alter ego of the wealth mindset - the poverty mindset. The poverty mindset comes from a place of lack. A poverty mindset pits people against one another because there is a sense of not enough or competition. A poverty mindset sees others as a threat or out to get what is yours. People coming from a poverty mindset are busy hoarding anything they have - whether it be money, resources, love, and more - trying to keep themselves from facing dire consequences.

A wealth mindset comes from a place of inclusion and endless resources. A...