Handling Financial Anxiety with Nate Mirabella

Episode 29 - Handling Financial Anxiety with Nate Mirabella

Reid Trego, Tim Goodwin, and Nate Mirabella discuss financial anxiety on the Money Pig Podcast. They explore the different causes of financial anxiety, including feeling out of control with money as well as societal pressures. They also discuss how uncertainty and market fluctuations contribute to anxiety. They emphasize the importance of making intentional decisions about spending and saving to reduce financial stress. Additionally, they highlight the challenges of navigating finances alone and advocate for seeking support from professionals or loved ones. 

Dave Ramsey is mentioned and praised for his get out of debt strategy and mindset, but the show is not sponsored by Dave Ramsey. They stress the importance of reaching a point where you're tired of being in debt and want to take control of your finances. Building wealth takes time, just like achieving other goals in life. Getting rich quickly may not be sustainable because it doesn't teach proper money management. The speakers share personal stories about their individual journeys out of debt and how it improved their financial anxiety and peace within their relationships. They emphasize the importance of having an emergency fund to handle unexpected expenses without causing financial stress.

The importance of investing money for financial goals and the distinction between emergency funds and other investments are discussed. Automating financial processes, such as saving and investing, is recommended to combat financial anxiety. The benefits of having life insurance and personal liability umbrella policies are highlighted. It is emphasized that seeking advice from a trustworthy financial advisor can help reduce stress and stay focused on financial goals. The concept of defining one's own version of wealth or being financially free is also mentioned. Finally, they encourage individuals to take responsibility for their finances rather than adopting a victim mentality.

The speakers emphasize that individuals have the power to improve their financial situations and make more money. They suggest taking on additional work, like driving for Uber, if needed. It is important not to feel trapped in a rut but instead strive for personal growth and change. The speakers recommend finding an accountability partner or hiring a financial advisor to help achieve financial goals. Overall, they stress the importance of taking control of one's finances with support from others. 

If you are looking for a Financial Advisor that does not think of you as just a number and truly cares not only about you as an individual and your unique financial goals, but also cares about your impact on your community, then please reach out to us to learn more about how we can help guide you.