Hello and welcome to the Mindful Kind podcast.

I'm your host, Rachel Cable, author of the Mindfulkind book, Mindfulness Teacher and blogger at

Rachelcable.com.

Each week this podcast will bring meaningful tips, tools and strategies so you can manage stress

and live more mindfully in the modern world.

Hello and welcome to episode 287 of the Mindful Kind podcast. So it's the end of the financial

year here in Australia and usually this is a very stressful time for me. I've had a small online business for nearly six

years now and every single year I did a terrible job keeping up with my finances until this year.

I'm so excited because I finally started taking my finances more seriously. I signed up for some accounting software and paid someone to teach me how to use it because it was really overwhelming,

and I've been keeping up to date with my financial tracking.

So rather than freaking out and having to catch up on a year's worth of finances, which was always messy and

confusing and time consuming, I can simply submit my paperwork without all the stress.

Now, there is a point to this story. You see, I finally took my head out of the sand and took

responsibility for my finances, which brings me to the topic of this podcast

episode. There's a concept called the ostrich effect, which was coined in 2006 by Gale and

Sade. They referred to the ostrich effect as the avoidance of apparently risky financial

situations by pretending they do not exist.

A few years later, the definition was altered a little bit to avoiding exposure to financial

information that one fears may cause psychological discomfort. So it's called the ostrich

effect for a reason, and I'll explain that a little bit more.

There's a common myth about ostriches that when they're threatened they stick their heads into the sand.

Now this isn't actually true.

...