Episode•February 21, 2023•10 min

My Most Influential Tip for Getting Ahead in Your Money | Ep. 206

If you want to get ahead in your money, listen up! I'm going to share with you my most influential tip for doing just that. This tip has helped me succeed in my finances, and I know it can do the same for you. So without further ado, let's jump into it! Every Tuesday, Tiffany answers one of your submitted questions. To submit a question for an upcoming episode, visit here: https://www.moneytalkwitht.com/asktiffany Your Money or Your Life Book: https://amzn.to/3IhNjvv Ang Matthews' FREE Invested Masterclass, available at www.investedmasterclass.com Connect with Tiffany on Social Media Facebook: Money Talk With Tiff Twitter: @moneytalkwitht Instagram: @moneytalkwitht LinkedIn: Tiffany Grant This podcast uses the following third-party services for analysis: Podcorn - https://podcorn.com/privacy OP3 - https://op3.dev/privacy

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Key Takeaways

1
Think of money in terms of time rather than currency
Example: $100 shoes at $20/hour = 5 hours of your life
Helps evaluate whether purchases are truly worth it
Useful for pricing services as a business owner
Changes decision-making by highlighting finite nature of time
2
Approach money conversations with a calm, collected mindset
Panic mode prevents creative thinking about finances
Reset by envisioning an ideal future first
Shifts from negative autopilot to positive thinking
Gently gathers goals without triggering trauma
3
Reframe financial discussions to focus on future vision
Ask clients what their ideal future looks like
Write down goals mentioned during positive visualization
Avoid diving into numbers while in fight-or-flight state
Creates psychological safety for money conversations
4
The book 'Your Money or Your Life' fundamentally changed Tiffany's money mindset
Vicki Robbins is considered the godmother of the FIRE movement
Core concept: evaluate spending through the lens of time exchanged
Applies to both saving and earning decisions

Intro

In this Tiffany's Take episode, Tiffany answers a listener question about the most influential money management tip she's received or given, exploring mindset shifts around finances.
Tiffany Grant is a financial coach and host of the Money Talk with Tiff podcast, helping listeners transform their relationship with money.

– Listener Question Introduction

Tiffany introduces the question: 'What has been the most influential tip you've received or given about money management to help you transform your thinking about money?'

– Most Influential Tip Received: Think of Money as Time

Tiffany shares the concept from 'Your Money or Your Life' by Vicki Robbins that transformed her thinking: evaluate money in terms of time rather than dollars.

Think of money in terms of time... That means in order to get those shoes, loosely speaking, is going to take five hours of your time. Once you start thinking about your money in that way, you start looking at stuff like, is that really worth my time?

Applications include evaluating purchases, pricing services as an entrepreneur, and deciding on pro bono work.

– Most Influential Tip Given: Stay Calm When Managing Money

Tiffany explains that clients often come to her in panic mode, which prevents creative problem-solving. She advises resetting emotionally before tackling finances.

Don't even think or look at your money if you're in a panic state... you have to start thinking creatively when it comes to your money, but you can't do that if you're in your fight or flight.

She shares a client example where she reset the call by asking the client to envision their ideal future, which shifted them from negative to positive autopilot and revealed their goals.

– Closing & Call to Action

Tiffany invites listeners to submit questions and asks for feedback on the best tip she's given them. Encourages spending wisely by spending less than you make.

Books Mentioned

Your Money or Your Life by Vicki Robbins

Resources

Topics

money mindsetfinancial psychologyFIRE movementtime vs moneyfinancial coachingpanic vs calm decision-makinggoal settingpersonal finance transformation