In today’s Podcast, I’ve got two great segments for you.
Initially, I'll explain how a fascinating part of our brain: the reticular activating system, operates as both a search engine and a GPS, guiding us towards wealth.
Then, I’ll have a conversation with a guest who has been called Australia's best-kept money secret, Jacquie Clarke.
She's here to discuss her new book, 'Stop worrying about money.'
The Reticular Activating System (RAS) is a network of nerves in your brain stem.
It manages lots of things, including restfulness, sleep/wake transitions, and biological functions like pulse, digestion, awareness, and cardiac functions.
Importantly for our purposes, the RAS has the ability to filter information and bring things to your attention.
You can’t possibly take in all the input from your various senses that you’re receiving all the time.
It’s too much.
So your RAS prioritizes what you need to know.
primed to notice your name, threats to your survival, and information you need immediately.
Not everyone’s RAS works the same way.
Some people have an under-stimulated RAS, which can mean they have difficulty remembering and learning new things.
Other people have an overstimulated RAS, resulting in ADHD, where they notice too much and are easily distracted.
But you and your past experiences program your RAS.
It notices what you tell it to, and it’s based on your preconceived beliefs.
So if you believe you’ll be successful and build wealth, you’ll notice opportunities to do so, and you’ll find the path to taking these opportunities.
In this way, your RAS functions as both a search engine and a GPS guiding you toward wealth.
However, it also works the other way.
If you believe that you’ll only find problems and hardship, or that wealthy people are greedy and grasping, your RAS will find examples of those things.
It’s important to program your RAS with rich thoughts, not poor ones, to help you get where you want to go.
Are you experiencing financial challenges?
Well, you're in good company as many Australians are being challenged by the rising cost of living.
My guest Jacqui Clarke tells us why we should stop worrying about money.
- Jacqui has been dealing with money matters her whole life. She recalls taking phone calls for jobs for her father, a plumber, and telling him which jobs were good. She observed an accountant coming to her parent’s house to help with taxes, and determined from that that financial advice was something everyone needed. She decided then that would be her career path
- Jacqui talks about the three biggest financial mistakes she sees:
- People who live beyond their means, wearing and driving their money and trying to keep up with trends.
- People who do nothing and instead bury their heads in the sand about financial matters
- People who don’t know what their own baseline costs are.
- Jacqui has dealt with worrying about money in her own life when she got divorced and had a family to raise. She needed security. Her book came out of that experience and learning how not to worry about it.
- Wealthy people get certain things right about financial security, such as:
- Keeping a great network of people around them
- Having a higher risk tolerance
- They also get certain things wrong, especially failing to share that network with the next generation.
- Jacqui’s tips for dealing with a cost-of-living crunch include:
- Understanding what your costs are
- Asking for a pay raise
- Talking about money
- Talking about money in the family.
- People should keep a personal financial village around them.
- This includes people who have expertise in:
- Estate Planning
- Financial Advising
- The number one rule for talking with kids about money is to do it, don’t avoid it.
- The conversation should start early.
- Older kids should be encouraged to get a job and work for someone else.
- Kids need to learn delayed gratification by being told no.
- Jacqui’s top 3 tips to stop worrying about money:
- Own it – there may be obstacles, but you can overcome them and move forward.
- Own it again – make it a priority to understand what you have coming in and going out
- Set a financial goal and work for it.
- This includes people who have expertise in:
Links and Resources:
Jacqui Clarke – Stop worrying about money
Some of our favourite quotes from the show:
“What I find really interesting is that the R.A.S sorts through all this information from your environment, and seeks data to validate your beliefs, and when it finds a match that validates your beliefs, your conscious mind’s altered.” – Michael Yardney
“I suggest you work on developing rich habits, and then, one by one, the small opportunities and then eventually the bigger opportunities are going to magically appear, because the search engine of your mind will find them, and the GPS in your R.A.S. will lead you there. – Michael Yardney
“Your financial position’s not going to get better until you get better at money and finances.” – Michael Yardney
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