Episode 19 ⋅ 7th September 2021

How Do We Justify the Cost of Investing in Ourselves?

Should you always put yourself first when it comes to your finances? Society tells us to invest in tangible assets and be selfless, that generosity for others is a quality to be admired. But what about generosity for ourselves? You can have all the money in the world but if you don't have your physical or mental health, will you be able to enjoy it?

Overview: 

Society tells us to invest in tangible assets and be self-less, that generosity for others is a quality to be admired. But what about generosity for ourselves? We are also conditioned to not show our wealth or be flashy, that spending on oneself can be indulgent and unnecessary. So what does investing in yourself really mean? Is it buying a new handbag, enrolling in University or spending money on new adventures. It can be all of that and more.

By investing in yourself, we mean our whole selves – your body, mind and overall lifestyle.

What's in the episode?

In this episode, Cat and Christine dive into the psychology behind investing in ourselves and why it's so important. 

Specifically, we cover:

  • What does investing in yourself actually mean?
  • How are Cat and Christine currently investing in themselves and what was the story they were telling themselves before committing to this.
  • We unpick just why it is so hard to spend money on ourselves
  • How cognitive dissonance plays into this decision making 
  • Why it's easier to buy things for others
  • We understate our own value; recognising that you are a $1M asset
  • How to overcome the tendency to be cheap and take the leap to spend on meaningful things for yourself
  • Actionable steps in order to afford investing in yourself – whatever that looks like.
 
…And there's lots more goodness in there, so get listening now. 
 

Great resources mentioned on the podcast are: 

  1. The Tim Ferriss interview with Ramit Sethi on creating a rich life
  2. How does a Sinking fund work
  3. Video on the $100 challenge
Guests

Featuring on today's podcast are your hosts, Cat and Christine.

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