Debt Drama, Let's Fix it with Tawnya Schultz, Money Life Coach EP558
ProjectME with Tiffany Carter – Entrepreneurship & Millionaire Mindset
Tiffany Carter
4.9 • 1.9K Ratings
🗓️ 16 October 2023
⏱️ 58 minutes
🧾️ Download transcript
Summary
7 spots left! > My ProjectME Posse Business Coaching Membership is strategically designed to teach you everything you need to know, in order to cash in on your talents, passions, and skills online... So you can make More Money While Working Less.
I have both a yearly membership option that is the best value, and I also offer month-to-month, for my commitment-phoebes. All the details are on the page, and if the Posse is full, it will be clearly noted at the top.
5 ways your subconscious beliefs about money and wealth are shaped by various factors like upbringing, experiences, and societal influences. These beliefs influence our financial decisions, including how we handle debt:
1. **Fear and Scarcity:** If someone grew up in an environment where money was scarce, they might develop a fear of not having enough. This fear can lead to impulsive borrowing, accumulating bad debt in an attempt to fill the perceived void.
2. **Self-Worth and Success:** For some, self-worth is tied to financial success. People with low self-esteem might resort to debt to maintain a facade of success, accumulating debt to keep up appearances.
3. **Delayed Gratification:** Those who believe in delayed gratification might take calculated good debt, like investing in education, knowing it will yield future benefits. On the contrary, those who seek immediate rewards might accumulate bad debt through impulsive spending.
4. **Belief in Opportunities:** Positive beliefs about opportunities and abundance can lead to strategic borrowing for investments. Someone who believes in their ability to create wealth may take calculated risks, leveraging debt for entrepreneurial ventures.
5. **Financial Education:** Lack of financial education can create subconscious patterns of mismanagement. People may not understand the difference between good and bad debt, leading to indiscriminate borrowing.
Understanding these subconscious beliefs is crucial. By identifying and challenging negative beliefs, individuals can reshape their attitudes toward money. Financial education and counseling can play a significant role, empowering individuals to make informed, rational decisions about debt, ultimately paving the way to financial security and wealth accumulation.
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debtfreegirl.com for a group coaching program, online budgeting, and money mindset course.
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Transcript
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| 0:00.0 | Our subconscious beliefs about money and wealth are shaped by various factors like upbringing, |
| 0:05.4 | experiences, societal influences, and these beliefs to this day are influencing your financial decisions, including how you handle debt. |
| 0:16.0 | And we're going to get into a discussion about this during this interview today, and if you find |
| 0:21.1 | yourself wanting to avoid this episode, |
| 0:24.0 | wanting to listen to it later, wanting to go skip |
| 0:28.0 | and find a different episode to listen to, |
| 0:31.0 | that's a clear, extra clear indicator that you absolutely need to be |
| 0:35.4 | listening because of avoidance is one of the key signs that you are in |
| 0:42.3 | scarcity that you are in scarcity, that you have subconscious beliefs around money that are |
| 0:47.4 | blocking fresh cash from coming in and that are also keeping you in debt. |
| 0:50.9 | So here are some other things I want you to just keep in mind when you're |
| 0:54.4 | listening to the episode. Fear and scarcity. If you grew up in an environment where money was scarce, you might develop a fear of not |
| 1:00.9 | having enough. This fear can lead to impulsive borrowing, |
| 1:05.2 | accumulating bad debt in an attempt to fill this perceived void because feelings aren't |
| 1:12.0 | facts, but if we believe those feelings to be true, we are going to |
| 1:16.7 | act on those things, myself included. Self-worth and success. For some, self-worth is tied to financial success. So people with low self-esteem, |
| 1:26.1 | whether it's realized or unrealized, might resort to debt to maintain a facade of success, |
| 1:32.0 | you know, buying the sports car, buying the clothes, the bag and the things in order to, so to speak, keep up with the Joneses. |
| 1:40.8 | Delayed gratification. Those who believe in delayed gratification. Those who believe in delayed gratification might take calculated good |
| 1:47.2 | debt like investing in education, knowing it will yield future benefits. But on the contrary, those who seek immediate rewards. |
| 1:55.3 | They want that instant gratification. |
| 1:57.4 | They want it now. |
... |
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