In this episode, Elizabeth Husserl discusses how to find joy in our relationship with money. She explores the roots of scarcity thinking and how it fuels discontent. Elizabeth also shares specific strategies for cultivating a mindset of enough and offers insights into redefining wealth beyond just money.
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I actually tell my clients to stop and to swallow when they feel fulfilled and let their cells in their body recognize and digest what this moment of meaning is, because then you start to compound moments of meaning viscerally, and your body starts to learn what enough feels like.
Welcome to the one you feed throughout time. Great thinkers have recognized the importance of the thoughts we have, quotes like garbage in, garbage out, or you are what you think, ring true. And yet for many of us, our thoughts don't strengthen or empower us. We tend toward negativity, self pity, jealousy, or fear. We see what we don't have instead of what we do. We think things that hold us back and dampen our spirit. But it's not just about thinking. Our actions matter. It takes conscious, assistant, and creative effort to make a life worth living. This podcast is about how other people keep themselves moving in the right direction, how they feed their good wolf.
Have you ever stopped to ask yourself what does enough actually feel like? Not as an idea, not as a number in your bank account, but as a moment, a deep embodied sense of satisfaction in today's episode, Elizabeth Husserle, author of the Power of Enough, Finding Joy in Your Relationship with Money, helps us explore this powerful question and why most of us are stuck on what she calls the scarcity hamster wheel. We'll dig into how defining your enough can transform your relationship with money, time, and even yourself. Elizabeth shares tools for creating more fulfillment and talks about the discipline and joy of truly savoring what you have. All also reflect on my own struggles with money, a topic I usually avoid, but maybe that's the point. By the end of this episode, you'll walk away with practical ideas for finding more balance in a world that constantly tells us we're not enough. I'm Eric Zimmer and this is the one you feed. It's time to feed the good wolf. Hi, Elizabeth, Welcome to the show.
Thank you so much, Eric for having me. I'm thrilled to be here.
Yeah, I'm really excited to talk with you about your book, The Power of Enough, Finding Joy in your Relationship with Money. This is not a topic we have covered very often on this show, and yet I've begun to think about how central its importance is to every person's life. Whether we want to admit that or not. It's a pretty big area of thought. We spend a fair amount of time on it in our emotional energy. So we'll get into all that in a second, but we'll start the way we always do with the parable. In the parable, there's a grandparent talking to their grandchild and the same life, there are two wolves inside of us that are always at battle. One is a good wolf, which represents things like kindness and bravery and love, and the other's a bad wolf, which represents things like greed and hatred and fear. And the grandchild stops. They think about it for a second. They look up at their grandparent and they say, well, which one wins? And the grandparent says, the one you feed. So I'd like to start off by asking you what that parable means to you in your life and in the.
Work that you do.
Thank you, Eric, I've loved sitting with that parable, and I would say the initial message is clear, right, whatever wolf you feed or you give your attention to, that's what amplifies in your life. But as I sat with it deeper, for me, it's less about good and evil.
Or black and white.
But in my work it's really around the light in the shadow, right, So what are those light qualities that potentially can bring out our more purest essence? And then what are the shadow qualities that potentially trip us up or you know, dim our essence. And I feel really fortunate that in my life I've had teachers who've.
Helped me find the wisdom in both.
Right, It's like in the shadows sometimes we have some of our unmet potential, right that we have to go digging to find the compost or the nuggets of gold in the fertile ground. And in our light we have some of those qualities that we can use to shine towards the shadow and the darkness to be able to reveal some hidden opportunity.
So for me, it is the ying and yang.
Right, It's like, how do these do qualities interact with each other? But ultimately, as we strengthen those positive qualities in our lives, and that's why I wrote the book, how can we strengthen our experience of enough right to counteract scarcity? Right? If I were to think of what are the two wolves in my world, it's enough in scarcity. I think it's more contemporary to say abundance or scarcity, and we'll talk about why.
I think that's a little bit of a fallacy.
But it's more, how do we really deepen into the strength of the wolf that knows their light, they're enoughness, they're worth, so that they find the courage to so almost like take that other wolf under their arm, to create more of a den and realize there is potentiality if the two of them also understand who they are and can work together.
I love it.
I don't think anybody has ever used the word den. In all these interviews, nobody's referenced the wolf den. I may be wrong about that, but yeah, I can't remember anyone ever saying that. So that's great, the wolf den. Let's start with something that you say in the book, and you say, for decades, I've been exploring an essential question, why do we have so much and yet feel so poor? Talk to me about the we have so much side of that, because some people might go, no, we don't, I don't, So talk to me about what perspective, yeah you come from that says you know we have so much?
Well, I think it's both.
I think it's theoretical and it's also lived experience. I think theoretically speaking, right, if we look at the US economy, there is so much resource, right, is it being properly allocated or is it concentrated and some people versus others?
Yes, But as an economy there's so much.
Resource, and yet we're still stuck on this hamster wheel of more and more and more. And in fact, Eric, I feel like if we were to start to practice the power of enough, we would be grasping less and probably reallocating better, so that the resources that this country has as a whole would be better allocated, because in reality, there is enough for everyone to have what they need. So I think theoretically that's the concept, right, And that's kind of what a lot of the economists that you know, we're studying the nineteen fifties into two thousand, like we make enough as a country and our GDP, why are we still chasing abundance?
Right? So that's one level I think personally.
You know, I was raised with two working parents, and so generally speaking, my needs were taken care of. Like my dad was a doctor W two, there was a consistent paycheck, My school was taken care of.
You know, I was closed. We would go visit my.
Family who's in Colombia, but there is still a sense of scarcity in my household.
I was like, what is that about?
Right, it's not matching up where there is enough, but there's scarcity, there's tension, emotional tension.
Right.
My parents were dealing with their own stuff that we can talk about, but I remember just that discrepancy. And I think, in reality, Eric, part of why I wrote the book is that I'm not alone in that experience.
Right.
We have financial DNA that takes the past of our lineage, our ancestors, what they've experienced. We feel it in our bodies viscerally, we don't digest it, and we continue to operate from that place without stopping and saying what really is enough? I think that's what prompted me to write the book, was like, this isn't lining up. And if it's not lining up for me, I bet you it's not lining up for other people.
Yeah.
I mean it's really interesting if you look at where we sit in the US, and let's just take most people, not people who are in abject poverty, but most people. We have more than humans have ever had. Yeah, we have more convenience, we have more comfort, we have more safety from those measures, it's the best time to be alive. I mean, I just spent some time in Europe and I study a lot of the history, and I go to the museums and you just kind of look around and you're like, that would not have been a good time to live. And I'm glad I wasn't born then, and let's avoid the black death time. Like we do have a lot. Yeah, and yet, as you say, none of us feel like we do. What do you think is contributing to that?
Well?
So, Eric, I mean, I'll reference one of your recent podcasts with Anders Hansen. Right, It's like you all were talking about this conversation of how we're wired both in our brains, but I also think that we're wired in our bodies to be seeking more, and so I think that's just an important kind of starting point, is.
Like, Okay, how am I wired?
Right?
How do I build different behaviors?
And so it's similar in the book I talk about that the scarcity brain, Right, I use similar examples where we're craving higher calorie foods because that's what our ancestors did, and so the craving muscle is.
Just part of our being human.
Kind of reality as human exactly that we need to deal with. And so part of what I did in the book is it's theoretical, but it's equally part practical, because I wanted to give people really tangible tools to be able to work with their desires and cravings and situate it within a bigger context of let's redefine.
What wealth is.
Right, It's not just about having money. Wealth is connected to well being. So if we put the wealth in a more expansive way and talk about our human needs and how do we satisfy our human needs and how do we do that in monetary and non monetary ways. We don't make our desires bad. We just are wired to desire. Right, That's actually a good mantra. We're wired to desire, So let's not fight it, but let's be more conscious and aware of how are we satisfying those desires because it can have impact on our own lives and impact more globally. I mean, I just want to say one thing about the US kind of like, we have enough resources generally speaking, right, it is our responsibility to figure this out, ye, you know, And that's a big piece of my push is that it's.
Our responsibility to figure out our own.
Relationship to money, and people kind of like scoff at that, They're like, what do you mean it's so much easier to escape goat money and blame it for I have too little, I have too much, You're too complicated. But no, it's our responsibility to figure it out so that we can be more conscious of how we just manage resources, not just for ourselves but for the greater world.
Yeah. I love that idea of desire because I always see like extremes happening, and on one extreme there's I just let my desires drive me and they just sort of carry me along, and I think that's where a lot a lot of people are. On the flip side, though, you start to venture into spiritual circles, particularly Eastern spiritual circles, and you start hearing, you know, the Buddha's Second Noble Truth that craving desire is part of what causes us to suffer as humans. So at that point then we go, oh, it would be great not to have desire, And I think that that's an impossibility for the reasons that you've talked about. I don't think there's any way to turn that thing off. So I love what you say. I think the question becomes how to relate to it wisely and how do we use the energy that it has, because that is where a lot of energy comes from. Exactly, a lot of energy comes from going and getting what I want. How do we align that and to your point, how do we turn off the never enough mentality? Right? Because that's part of the problem is that any of us can probably look at our lives. I certainly can and be like, there was a time where I thought if I made X amount of money, I would be set. Oh great, good, I made that amount. Okay, well now it needs to be x and.
The goalpost moved.
It could be the same thing with anything. Podcast downloads. If you told me ten years ago that we would have I don't know how many. I've almost stopped counting. Somewhere upwards are probably like forty million downloads, I would have said, oh my god, like yes, But now I look at that and I go, well, you know, but Joe Rogan gets like one hundred million a month or something. I mean, you can always move the goalposts and compare upwards.
I have so much to say, Eric and what you just said, but I would start by saying, it's really important that we have clear definitions of what our metrics of success are.
Right you, as a person.
That's really important and you need to have that metrics of success dialed in. And then the second piece is that when that metrics of success is met aka the downloads, then you really have to take the time to let yourself be satiated and satisfied.
It is a visceral experience.
And I think that's what's missing in our conversation around money and finance and wealth is that we talk about it. It's abstract. We map it out on spreadsheets. I mean, I'm the first one. I love spreadsheets, that's what I do for a living. But equally important, and that's why I wrote this book.
We have to learn how to experience wealth.
Because of not we get stuck in the cycle of accumulating for accumulating sake. So let me give you an example. Right, I'm about to publish a book. It might be out by the time this podcast or this episode is live, and I'm super clear on what my metrics of success for this book is. And it's these one on one conversations, though, these meaningful conversations, is why I wrote this book. Now, my editor told me what my pre orders number was. It was like, oh my god, that's amazing. They're beyond what I thought there would be. I don't know that many people, right, I mean, I know I'm a super communal person, but like, there are more people pre ordered the book.
Than I know.
And I can slowly start to see the part and is like, oh, do I go for the New York Times bestsellers list?
You know all this stuff, And I've had to have.
Conscious conversations with myself. No, Elizabeth, you wrote down what your metrical success are. If you get it, great, But it's these four things stay connected to that, and that's where the discipline is right.
And this is really important.
I am married to a spiritual practitioner who is stabilizing awakening, I would say, And so for him, he's working on not feeling to desire.
That's not me.
I'm considering myself a very human, desired oriented person and that's where my work is right. But what I can help people is help them channel desires towards a more purposeful, meaningful life. And then desire has a reason to be versus a fleeting, conpulsive or impulsive, right, and they're unconscious their life. And so that's the difference between more of an adolescent desire and a more mature version of ourselves. And I do think that we have the ability to become that more mature version.
Let's go back to the.
Wolf den, the mama wolf holding both of her baby wolves there and teaching them both how to be mature versions of themselves.
And we can do that in our relationship to money.
Yeah, there's a lot in there. I think what you're talking about a little bit is our values. Yeah, And can we try and get our values in line with our desires. If we can bring doing those things closer together, I think we experience more satisfaction. But I love that you use the word discipline, because I do think it is a discipline to not just get into the more and more and more mentality, given that it is in our evolutionary wiring, and it is our cultural story is both those things. And if we don't have the discipline to do what you are suggesting, which in essence is saying what is enough? Yeah, but it's a hard discipline.
It is a hard discipline.
But that's why in the subtitle I use that word joy on purpose right, It can be a very joyful experience once you start. Right. It's kind of your example that you've used Eric of Like, it's not like you wake up wanting to go to the gym and workout every day, but when you do that our workout, you always feel better.
And so it's a similar experience.
Right, Remember what is that short term outcome that potentially the discipline can bring and stay connected to that. Let me see something really important, because values is important, but that can you'll still abstract to people. They're like, oh my gosh, is there a whole list of values?
Where do I choose?
I really leaned on the work of both Maslow and another economist from Chile, Manfred Maxneff, and both of them did some really deep research and work around needs. Right, we're familiar with Maslow's hierarchy needs. Funny enough, he never wrote it as a hierarchy. That was later No, people don't know that, And so it's like, let's flatten the playing field, right, let's treat needs equally. I know that when one of the needs are on fire, that's where your focus has to go. Like if you're going through a health crisis, if you can't pay rent, for the month, like there are crisises in fires. But generally speaking, if we flatten it and we work with twelve human needs, one, we realize that needs are natural.
That's really important.
So we take away that language of being need. He's like, no, needs are natural, they're universal. The way we satisfy them is personal. That's the difference.
I love that line. Say that again because I've heard you say that, and I love that idea.
So needs are universal natural, The way we satisfy our needs is personal. And that's actually where we can bring our unique expression, our creativity, our purpose can be, and how we satisfy the needs, how we potentially find synergetic satisfiers, like are there things that you do that satisfy multiple needs?
Right?
And by the way, Eric the needs Mondola, it's a free resource on my website.
You don't even have to read the book.
You can still go to my website and download and do the exercise. And I put twelve needs and there's a little space for choose your own because maybe there's a really important need that you have that's not on that Mandola by all means get creative. But the way that I work with this is that I have people right on a yearly basis instead of New Year's resolutions. Right, we take the wealth mondola, so on a scale of one to ten, ten being like I'm actually feeling super fulfilled and satisfied in this need. One being like, oh my goodness, I'm feeling empty. They color it out and so it ends up being this mondola that looks like a flower at the end of the day, and you put it on the wall, and it's amazing how no.
Matter what you call it looks beautiful.
It's like a flower that always has unequal pedals, and you just take a moment and you admire. Okay, that's my life right now, Right there is color in some capacity. Then you sit with the needs that you're satisfying well, and you ask yourself, okay, what are my strategies here? Monetary in both monetary that's a key component, right, because we don't want to just throw money at satisfying a need. We have to have non monetary, non financial ways of doing it.
For example, need for connection.
You could say, oh my gosh, I love taking friends out to dinner, I love hosting, and I end up buying all this food and you know it costs you more.
Than what you think.
Right, Yes, it's fulfilling your need for connection, but maybe it's putting you in debt. So how can you have connection meant also in non monetary need in fute a friend out for a walk, right, you know, have a phone call.
So I think that's.
Really important because then you can take the strategies that are working in some needs and be like, hey, is there an overlap to some of the areas that aren't met?
Right?
And so you start to see the conversation where like, Okay, I have desires. We generally tend towards wanting most of our needs met. We might gravitate to more than others. But how do you then channel that desire to use resources, consume resource exchange?
Those are neutral.
Acts, but how do you channel them in a way that brings you a sense of fulfillment?
Differently?
And then how do you take the time to truly consume that? And that's really important. I actually tell my clients to stop and to swallow when they feel fulfilled and let their cells in their body recognize and digest what this moment of meaning is, because then you start to compound moments of meaning viscerally, and your body starts to learn what enough feels like.
It's similar to the process that's been described by different people of savoring right learning to save or something, which is the same thing. Doctor Rick Hanson has been writing about this for years, this idea of you've got a pause when something good is happening and really sit with it and amplify it and allow it to drop into you. And this is something I am as I think about. I'm just not very good at good things happen and I just kind of like, oh, good, okay next.
But what's really important, though, is that you know, we want this in our portfolios. We want our money to make money, right. We love compound interest, so we see how it works there. And if we were to take that same principle into savoring these moments of meaning, they will start to compound inside of you.
I think that's a really important point because a lot of these little practices that we do. I fall prey to this all the time. You listen to some people on a show and they describe some of you think I really should do that, you know, and you think it's going to be great, and you do it and it's nothing, nothing different. You do it again. Nothing really different, and you go, eh, not for me, and you're done. Whereas the idea of little by little little becomes a lot or you know, compound interest is that these little things accumulate. I mean, the story I always talk about is when I had a job that I went to and you know, went in and out of the office every day. I had this low practice when I walked out to my car, when I walked from my car to the office, from the office to the car back to the house. When I was walking, I played this little thing called grounding in your senses where I would just say, like, what are five things I can see right now? What are five things I can hear right now? And doing that one time is mildly pleasant, I suppose. But what happened is by doing that again and again and again, you know, five days a week, month after month, my capacity to be present deepened almost immeasurably at a time. But if you looked at the beginning of that to the end of it, I was very different in my ability to remain present. And now that that discipline is gone, I can tell that I don't have the capacity I had back then.
Yeah, And I think, what's really important is you know, coming back to your example of like Buddhism or some Eastern traditions, I would even say kind of Western traditions, the discipline of going to kind of mass or sitting in meditation or going to sanga. Right, you're with other people practicing a discipline, and how important that is. And what's tricky in my field is that a we don't talk about money right, and much less do we talk about our experience with money. If we talk about money, we're talking about stock picks and investments and best things. And so I think that's what's really important is that it's not only hard to do. These disciplines are on our own. Sometimes it's easier in community. But we don't have ways in to talk about money in a safe way. And that's the other reason why I wrote this book is you know, when I was having this conversation with my compliance office where I'm like, I do not talk There's not a word about investments, right, it is about your relationship to money. Because I wanted to give people a doorway in where they could start to explore their own relationship with money and potentially have ways to talk about money with people that felt more approachable because I think once we start to I mean, I would love like a savoring sanga. That'd be freaking awesome.
Maybe we'll start that one day.
But let's form a little text group where we text each other and savor something every day.
Yeah, I mean, I see it.
Like at work, we do a daily scrum where a firm of fourteen and every day we say one thing We're grateful for, one thing I'm working on, one obstacle I have, and every.
Day via email, and it's amazing. God is a discipline.
It gets started off the culture that has been built because we have that shared discipline. And there's days where I'm like, oh my gosh, I really have to dig deep.
What am I grateful for today? But I know that I have.
To show up because I've asked all my team members to show up right, and so sometimes when we're also holding ourselves accountable, these can be easier.
I've started sending a couple of text messages after each podcast listener with positive reminders about what's discussed and invitations to apply the wisdom to your life. It's free, and listeners have told me that these texts really help to pull them out of autopilot and reconnect them with what's important. When you get a text for me during your day to day life, it's one more thing that helps you further bridge that gap between what you know and what you do. Positive messages when you need them from me to you. So if you'd like to hear from me a few times a week via text, go to oneufeed dot net slash text and sign up for free. We're going to get into more of this relationship with money in a minute, and I think you're going to answer the question I'm about to ask by going there. But here's the experience I think almost all all of us have, and I'm curious what you think about how to work with this, which is I'm going about my day, I'm feeling just fine. I hop on Instagram and I see so and so on a yacht in some beautiful ocean with beautiful people around, and I'm suddenly now filled with envy and desire and craving and all of that. And it's around us all the time. We are constantly being fed images of what we do not have, and it does not feel good. So how do you think about responding when that comes up? Because I think we've sort of said, to some degree, maybe it's natural that that comes up, But what's the response? What's your response?
Yeah, I mean I do feel like it's natural. And so the first thing I try to do with myself is to not shame myself. Right, I've learned how not to be so hypercritical, I think is often like our first response. And then what I'll do, You know, I'll put the phone down, right because you're going to have to stop the doomless scrolling at some point, and I'll be like, Okay, let me go back to that picture of the yacht, the beautiful people, the ocean, the water.
What of that scene am I truly jealous of?
And I ask myself that hard question because in my experience eric jealousy it's a little red flag that goes up and says there's something there that you do want, right, And what of that scene.
That I really don't want?
I personally don't necessarily need a yacht that I'm like, my brain goes and that's actually really expensive to maintain, Right, do you need it?
That's where my brain goes.
But I love ocean and I love the sense of like beach and stand in like sun on my skin. That is something that I know I need in my life a lot. And so if I'm like, okay, great, that's what I'm identifying that I really want some of one.
Can I satisfy that right now?
Can I just step away from my computer and just go stand outside the sun? Can I tell my body that it can experience that feeling of relaxation sunshine? Do you see, like, is there something that I can immediately feed myself with? And you know, it might be a super rainy day and cold and you're like, well that's out right.
Or and so can you take a warm bath?
That's the case, but can you give yourself the comfort of what you're craving? Maybe you're like, God, damn it, I'm working too hard.
I really want a vacation.
Maybe we can't conjure up beautiful people, but you do want to conjure up some leisure time. Is there a way to bring some more leisure? So I'm naming these again needs that we have. What need did it touch? Can you once satisfy that immediately? And if you can't immediately, what's the strategy to bring more of that into your life? So treating it as an experience of information versus something to shame or get really upset about. I mean, you have to be careful not to go down the comparative spiral, because that's still good. That's where the comparative wolf just eats your head off. But if you're like, Okay, it's showing me something that I want to pay attention to, pay attention and bring it back to the needs conversation and is there anything that can be met today?
Yeah?
I love that idea. My partner Jenny said once talking about emotional eating and overeating, that when she thought what she wanted was a cupcake, there was only one way to get it, it's a cupcake. Well, when she realized what she wanted was not to be bored or not to be sad, or some sort of comfort, there's lots of ways to get that. Back to your point about needs or universal there are lots of different ways to satisfy them. I like that idea of what is this bringing up in.
Me and for me?
Sometimes there's a phrase mimetic desire. Right, we want something because we see others want it, and we get conditioned by that over a long period of time. And so I described this scene in my book that I'm working on of We're in Atlanta a lot because that's where Jenny's family is, and driving down certain streets in Buckhead there are enormous houses on lots of land. They're gorgeous, and I can find myself driving down that road and starting to get the I don't have that. Why don't I have that? I wish I had that, But I had this experience where, at the same time, I turned my attention to what I was listening to, and it was a band called The gas Light Anthem, and there's sort of a semi punk rock kind of band, and I realized that the values that I get from that are completely opposite of those values, right, And I saw myself flip back and forth between these things really quickly, and so what I then kind of had to do is go, well, which of those values do I want? Or again, the values we could talk about needs, But which of those things do I want to orient my life around. The music tells me the value of connection and belonging and being yourself and you know, creativity and expression, right, I want to orient around that, not around having more and more money, even though having more and more money does pull on me sometimes.
Yeah, yeah, and I think you know, as you're speak Eric, I'm like, oh my gosh, that's the revolution I hope for, Like I hope to live to see a revolution where people are reclaiming the power of knowing what enough is because I think the more of us that talk that way, the more of us that share that way, the more of us that express that's enough, right, and let me tell you what my values are and let me express who I am, the more we can start to shift the cultural mainstream definition of success and wealth.
Right, And we are talking about this with someone else where. It's like we drink this.
Kool aid that the way to feel wealthy and feel a bunton is to have more money. It's just a cool aid, right, And so part of it is like, wait a second, let me backtrack and be like, what is my definition of success?
What is my definition of wealth?
And then you can drive down that street and be like, you know what that's someone else is awesome, beautiful house, keep going, But I'm driving.
Towards what mine is.
And the more we know that, the more freedom we find, because I think people forget that financial freedom or financial retire or independence that people so desperately want is a formula of how much do you spend and how much do you need to save to support that spend.
If you spend less, you actually need to save less.
Right. If there's this irony to it is that people want the freedom in life, and that's I think one of the beauties of being a financial planners that I can think about the yacht, I can think about the house in my brain goes like, oh my gosh, what's the property tax? That feels overwhelming? Why would I do that?
You know what I mean?
But that's how I'm trained, because that's what I do all day long with cash flow, and I'm like, not worth it.
Because here's the thing, Eric.
If that image of that house keeps coming and being like, you know what, I would just love to experience that one day.
Great, you know the cheaper way to do it.
Book an Airbnb for weekend, right and book that really nice house, invite twelve of your best friends, have a freaking awesome party.
Get it out of your system. You didn't have to buy a house.
Right.
The other thing is it is just this perpetual myth that I think is tied back to what we talked about. It's partially in our biology and it's in our culture that if I had X, I would be happy. Before we talked, I was talking with Tim Shriver, who's a member of the Kennedy family, right, so he's around rich and powerful and famous people all the time. He said the thing that we all know, which is happy. A lot of them, they're not any happier. And we know this. We look at people like Robin Williams. That's just the one that comes to mind, famous, rich beloved killed himself, Anthony Bourdain, right, So we know on some level that this idea if I had that, if I had that, if I had that is a myth. And there's a lot of reasons why it is. I mean, one of them is just habituation. You move into that big house. Soon it becomes normal, So it's just what you're used to, and it doesn't generate the joy that it does the first week or month. And so this myth is here. And so I think what you're pointings towards is really some practical tools to turn in a different direction and towards what enough might be.
Exactly, because I think in reality is that every single human being on this planet will deal with anxiety depression, scarcity, you know, all the human stuff right right, you know, shame, isolation, like it's just part of being human. And what happens is that we mistake and scapegoat that if we throw money at the problem, it will go away. That is the number one thing that I hear clients tell me, Eric, I want to make so much money I don't have.
To think about it.
And what they're trying to tell me is that I want to make so much money that I want to feel anxious for whatever comes with being human.
And so I think that's a really important piece. I'm like, huh, now, that's interesting, right.
And one of the exercises in the book Conversations with Money, right, is the assault chair exercise or the empty chair exercise, where you literally sit down and have a conversation with money, or you have a conversation with the part of you that deals with money, and what quickly emerges is that it has nothing to do with money. It's about your relationship right to scarcity or abundance or worth or you name. And that's where you know, my job as a financial planner is to separate what money is and.
What it's not.
I'll do all the cashfol organizations. But sometimes what's more interesting is what's the angst around being human that you're feeling. Yeah, it's really uncomfortable. I don't wish it on you, but kind of part of being here. So let's go there.
What tools do you need to be able to not get stuck there? Right?
How do we feed the wolf that has the light that can shine light and gain kind of more clarity so you can move through it?
And so I think that's the important.
Piece is that I think if we were to just wake up and realize money doesn't solve the issue of being human, we would just kind of like rest into that and be like, Okay, well I can stop grasping for it. I can still be in relationship with it, but I'll stop grasping for it and let me just deal with being human.
That's a really kind of amazing point. And I think about this sometimes. I go back to that line you said about needs or universal You know, strategies are personal because I've sort of explored that from a different angle. It's how I relate to other people. If I can I relate to them from Every human wants to have some degree of pleasure and avoid pain. It's just kind of at the most base level. And then I say, so we all are like that. Everything up from there starts to become about strategy. And so I can say, well, I am like you. I don't like your strategy. I think your strategy is a wrong strategy, or I think that strategy hurts other people, or it's not the one that I choose, or oh god, that's a good strategy. But underneath, I'm saying okay, and you're doing the same thing you're seeing. Everybody has these twelve needs. Doesn't matter what you do, wherever you get. If you can't somehow arrive at a relationship with that need, an ability to more or less say I have enough, or adjust in a wise way, you will struggle, right, because being human is to struggle. I love that idea that money doesn't solve are human.
Problems, Yes, exactly, it's all some problems it does, and it very much has a place. I mean, I love my relationship with money. You know, it often like sits on my shoulders, kind of like whispers to me. But what I want to see about, well, in my book, I'll tell you about the first conversation when I was in my early twenties.
Money was like, Elizabeth, you were smothering me.
Back off, and I was like, oh, And partly because I had just graduated from grad school, I was trying to start a private practice. No one had taught me how to be an entrepreneur, so I was holding on too tight.
I was angry at Money.
I'm like, like, if you why aren't you showing up?
Where are the clients? And how am I going to make it work?
Like all the angst of you know, starting a business, and Money was like, Elizabeth, you hold on too tight, you're smothering me. You're angry because you don't have the answers to things that you got to go find out how to do, like do not blame me.
And I remember that I just felt like money, you know, in a kind.
Way, had just kind of like slapped me and be like wake up, like take responsibility for your life.
And I was like, WHOA.
The first thing I remember Eric was like, huh, I treat money as I've treated some of my old boyfriends with a lot of control and little grace. And I'm like, and they have told me that doesn't work, and.
Reason exactly that's my younger self.
Fortunately, I mean I've learned still not to micromanage my husband.
We have like safe words.
So Money wasn't telling me something new about myself, which was interesting because other humans have told me that never felt good.
So I was able to be like, oh, yeah, I know that doesn't feel good.
And I'm like, okay, Money, so how do we have a different relationship? And Money's like, what are your questions? Get clear on what are your questions? I'm building a private practice. Who do you know in your life that can model or help you? And start there, start to really get clear what does it mean to build a private practice? Why are you so afraid for charging your feesta? And I was like, oh my gosh. Yeah, there's a lot of different starting points. And I'm better utilizing my resources if I stop being angry at money, because anger, right is a resource that I'm like spending my time being angry at something that it.
Doesn't want to be controlled.
How about I get clear on what I need help with and I start there and just something shifted Eric And so you know, for years, I would have daily conversations with Money, and sometimes I'd be like I'm struggling, or sometimes be.
Like, hey, we're doing great.
And it's just an ongoing conversation as I have with my husband. Sometimes we're doing great and sometimes we're not. But I'm having an ongoing conversation with money, and so it's a very live experience, right, and I.
Also let it be cyclical.
Here's the other interesting thing about humans. They like money in one direction up right. They want their accounts to go up, they want their investments to go up. Even when I'm saving helping clients save for something, like you know, they're going on a big trip with their family, When it comes time to bring that money and spend it, no one likes it, which is fascinating because it's almost like saying I'm attached to my partner always being happy, and we know that's not the case.
Some days They're going to wake up in a bad mood, and I give them their space. And so I think too, if.
We learned to be more in a cyclical relationship with money, recessions happen, depressions happen, stock markets change every single day.
And if we learn just.
To let that cycles exist and understand where they fit in our life, then we could also just create a little bit more healthy spaciousness and not be so codependent on how money performs. I feel like we went off tangent.
But no, I don't think we went off tangent at all. So let's talk about this conversation with money thing. Yeah, here's the truth of my reaction to that. It scares me.
Oh yeah, one hundred percent.
Hey, I don't know how to do it, and b I'm not sure I want to do it.
Yep.
Oh my gosh.
That is what everyone says. And so resistance is the first reaction. I will say that, right, And so resistance is the first reaction.
One two. The second reaction often here is.
Like money doesn't talk right, and I'm like, you know, just play with it for a second. Or there's a part of you that pays the bills. I mean, I wish you weren't true, but it's true, right, And so imagine the part of you that's paying a bill online or writing a check or paying your taxes. That's the part you're talking to, because they're the one who's dealing money with your life. If you feel total resistance, Eric, you know, bring it to a therapeutic container, right. Therapists know how to do this exercise, or have a friend or a spouse or a partner just watch you and be like, hey, just hold this container and then set a timer on your phone, right, because sometimes it feels too abstract, if it's too like open ended, and all these guidelines are in the book, but you can say, okay, let me just set a three minute timer. And what I like to tell people Eric, don't tell money your story.
Money knows your story. It's been in your wallets your whole life. Tell money how you feel.
And so sometimes I've had people like throw something at money and like push the computer away if I'm doing it on zoom, or sometimes they'll just grab it and hold on, like really, what's the emotion you have with money? And try to give voice to why you're feeling that and just speak it until you feel complete. And then you switch chairs. And that's why sometimes it's important to have someone else in the room because you'll probably get stuck and you're not gonna want to switch chairs because that's the hard part, And so they'll gently nudge you and say okay, time to switch chairs. You literally switch chairs and you hold your money object on your lap and you just respond and you don't edit what comes out. And that's the best part. I feel like it cuts through years of therapy because you are being honest with yourself and saying, this is what's happening. And then nine out of ten times there's relief because the truth got named. And when we name the truth, we know where to start, and then you can go back and respond and there's a way in which like, oh, that's what's at the core of the dynamic, and then we start.
It's interesting that I'm just sort of stuck here all of a sudden, Chris is editing this. I've just been sort of dumb struck for about a minute here, which doesn't normally happen. As you know, I just keep talking and talking.
Can I ask where you went? What did it touch?
I think there's some sort of fear. There's some sort of fear, which is kind of what I named before. I mean, the experience was the experience that I often have when presented with something that feels overwhelming or difficult, which is I just go blank. It's like all my systems just go down. And that's kind of what happened for a second. I just went sort of like blank.
But can I say, Eric, how important that reflection is, because that's I would say eight out of ten clients experience that, And that's why money feels so confusing, right, That's a lot of times. The internal experience of it is that when we get so overwhelmed with money matters, right, we have to make decisions like how does the mortgage work? How does all this that we can?
Right, we start to go blank and then we push through, right, But we don't push.
Through from a place of integration. We push through sometimes just kind of like from a mental muscle.
And then again it comes at the expense of being able to feel the wisdom in what's coming.
Up, or we don't push through. I am better, much much better than I used to be. But I was an avoidant, like avoidant, like I don't pay the bills because for whatever reason, the money is there, you know. Now, Again, I was the twenty four year old homeless heroin addict, so you might imagine by like the age of twenty seven, I hadn't really I still had a lot of things to figure out about anything in life, right, But money was a weird one because you know, I would get the electricity turned off. It wasn't because I couldn't afford to pay the bill. It's because I just keep it out of my mind. And I'm very good at out of site, out of mind. And so as I'm having this conversation, I'm sort of reflecting back to you. Know again, I've gotten much better, but I still don't really engage with money in the way that probably would be wise, both emotionally and financially. When it comes to running the business. I do what I need to do, and I've learned to hire people to do the things that I know I won't do right, like just having a bookkeeper. Like when I started this company after my last company, I was like, I'm hiring a bookkeeper. I can't really even afford a bookkeeper, but I'm hiring one because I know I won't keep track of these things. I just know myself well enough now, but I always approach the money aspect of this business as a great chore that I only do kind of when I have to. It's the end of the year and I say, all right, I got to have some kind of financial plan for next year. We got to have some idea. So I'm just reflecting all this in real time.
Yeah.
Well, and I want to say, at first, I appreciate you having me on because it doesn't sound like there's that much joy in all of this, and so feels like it was.
A stretched potentially to have this conversation.
It might be why this is the first time we've talked about money in any depth on this show.
Let me also suggests one thing too, because you're not the first one to draw blank right with this exercise. And that's why I mean, I feel like I have like five different or multiple exercise in the book because you have to find your starting way and what comes up when you were talking about, for example, you know your stage of going through being a heroin addict, and you know not being able to pay bills and not because you didn't have the money, where my brain goes like, huh.
There's another exercise that I offer, which is.
Like writing your money story from the beginning, like what do you remember was your first money memory and writing it out logically and you can skip some ages if you don't remember. And what I like to tell people is like write out as much as you can right when you start writing, then more memories start to come. Put it down for a week, come back to your story, Eric, and read it as if it were the story of your best friend, and from that lens, what patterns do you see?
What connections do you see?
If your best friend told you, hey, I blank out at times, right, I don't find any join my relationship to money, and sometimes I didn't pay bills even if I had the money.
You're like, Okay, I'm coming in with that knowing now I'm reading.
The story, what are the connections that I make of where that pattern and behavior is coming from. And it's not to necessarily just just get stuck in searching for the why, but it gives a little bit of entry point.
Like again going back to your wolf's stand.
Which I freaking love that story, is you know, maybe the shadow wolf is so burdened by this on knowing that it's kind of hard even to lift the head and to see right or to see a possibility.
And so it's like, what.
I love about the money story piece is that you can start to become your own anthropologist and seek what connections because the reality is one, you're not there anymore, You're living a very different life today.
The reality too, is that you have gotten yourself.
You and most people I talk to have gone through hardship and they've gotten themselves through hardship, right, and you.
Start to look back, you're like, WHOA, check that out.
That's where I got grit from. That's where I got perseverance from. That's where I got that from. And you know what the realities. I haven't put those qualities towards money, okay, but I know what those qualities are. And as I start to design my relationship to money, and again, it doesn't have to be in spreadsheets. You design your relationship to money and the qualities you want to bring to it.
Maybe this year, I'm going to pick one.
Word and I want to bring a little more perseverance to it, or whatever your word is. And again, there's different entry points to looking at your relationship with money that's outside of spreadsheets. And I think there's a lot of freedom in that.
I like to compare myself to my best friends because I have a couple of them who've declared bankruptcy a couple of times, and it just makes me feel good about myself.
Not naming any names. Comparison, Oh okay.
I said, you're helping your best friend, right, I know.
Comparison gets us back on the yacht.
That's right, that's right, let's go back to this idea of enough, because I think it's central to everything we're talking about. Before we get into enough, I think it's related. Talk to me about why you use the words abundance and scarcity trap.
Yeah no, that's a great question.
Talk to me about what that is, and then I think that will lead us into you know, maybe you can give us some thoughts on how we start to define enough.
Yeah no, that's a great question, Eric, because I think to your point, we're all in this conversation around scarcity, abundance, no matter how much money we have, how much we make, et cetera.
It's like part of the human experience. And so what I've seen.
Over you know, the many decades of being a financial advisor, and I also have a degree in psychology, and so just tracking people in the relationship to money, I feel like people are caught between pushing skins arcity away. So imagine pushing your arm out and grabbing onto more money, like I want to call more money in while pushing scarcity away. And it's a really awkward way to kind of like position your body and live your life, right, And so what happens is that we get stuck on thinking that more and more and more and more will solve scarcity. So, even though abundance has a role to play in the sense of it can start to bring awareness and consciousness to a different mindset, we have to situate it within a bigger.
Framework of meaning and fulfillment.
And that's the why, right, Like why do we build wealth?
Why do we work? Why do we spend? Like?
And again, a lot of times people live their life by default and not by design, right, And so when we start to ask those questions of why, we can loosen the hold of trying to grasp abundance and push scarcity and be like.
Oh, actually that question conversations may be a little bit more interesting. What is mean and fulfillment to me?
And then the abundant scarcity cycle fits within that bigger spectrum of wealth. So it's giving people a little wider perspective so that they can get out of that cycle of pushing scarcity away by thinking the only way out of it is wanting more or getting more.
Okay, So if the way out of scarcity is not to accumulate more, what is the way out?
The way out I mean, it goes back to part of our original conversation. So the power of enough. Right, is the experience of embodied satiation. Right, that's savoring. Right, that's the power of enough. That's how you activate your well of worthiness. And I would argue Eric that just that alone, if you start to truly feel your sense of worthiness and your ability to do all these economic activities generate exchange, consume. But if it comes from that place of worthiness, our relationship to all those activity changes because the reality is those activities are neutral.
Consumption is a neutral apple.
Right.
We were talking about it before with.
Eating, Like every day I wake up hungry because of course it's time for breakfast. Right, I can choose what I have for breakfast, and that choice allows me to feel.
A certain way.
And so it's the same thing, Right, I can choose what I spend my dollars on, and my choice allows me to feel a certain way. And so that's what I really encourage people to start tracking. One of my favorite techniques is to keep a satiation journal, right for thirty days instead of writing what you're grateful for, because that's more of a heart experience right down at the end of every day, three things that satiated you, because that's more of a visceral body experience, and I think that's really important, right as we start to kind of like build new strategies for our minds our bodies can support with real data and real information, and you start to track what are those strategies that are working. So coming back to if the point isn't to accumulate, right, I mean, I'm the first one that my grandfather, like I wrote this book for him. He was a survivor, was Austria and jew left Austra during the World War Two, ended up in Columbia, South America, which is why I look Latina because my dad married my mom Da Da Da. But he died with holes in his socks and a lumpy mattress because he never spent on himself. He was so deprived and waiting for that Third World War, which so many of our past generations, our ancestors went through persecution war, I mean, so many different countries.
That's just one example. And so part of it, right is my grandfather never experienced wealth.
He had wealth, thankfully that paid for my college education because he didn't spend it, so I spent.
It on college, right, which I'm grateful for.
I was able to graduate without a student loan, which is huge in this country, and.
I feel that responsibility of being like, I can't pass scarcity onto my daughter. There's no need.
I make enough, right, you know, I make enough that I was able to help my husband leave his w two because he wanted to write a book too.
I'm like, okay, let's map it out. It works.
So we cannot pass on scarcity to my daughter because that's not a reality. And so where's the software update button?
Right?
We all want to push it. It's not a button you push. It's a muscle you exercise.
It's a muscle you exercise. And unlike a software update where you push a button and updates and it's now updated, the updating of our mental software is a little by little process.
Again.
Yeah, particularly if you're dealing with thought patterns that you've had for forty years, you can change them, but generally you change them by finding the thought you didn't want, replacing it, and doing that somewhere around fourteen thousand times.
And I think that's a very similar approach that I have for me.
It's like a visceral. It's a body experience, right, similar to thought patterns. It's our body patterns, and it's.
The little things.
You change it one moment of saciation, one moment of savoring, one moment of fulfillment a time, and something will happen.
Eric.
You know, I had someone tell me it takes nine teachers, or it takes nine books.
It's not just one. You kind of have to like stack them. And then something in a haw moment happens.
And I'll never forget the day where I'm like I love my life and I was like, oh my gosh, and nothing really changed.
I just like I love my life.
And then I forget and I'm like, wait a second, I remember that feeling.
How do I make my way back?
And over time I was able to come back there quicker, right, And so they do compound when you start to recognize what fulfills you because I'm like, oh, I can add those strategies of fulfillment, and I start to feel resentful when I can't. And it's not that I'm resentful at anyone else. I'm like, oh am I not? Am I prioritizing things inappropriately? Because I'm like, oh, why am I working so much? That is a negative return on my investment of quality of life?
Talk to me about this satiation journal, Like what are the kind of things that go in that So like I can imagine like, okay, I ate and now I feel satiated. Okay, I could feel that, savor that, But what are the others body wise satiation type things that you're noticing and trying to.
So, for example, I keep that practice. Every day, I choose three, and so yesterday my three were one. I had also recorded another podcast, and these conversations fill me up. Like literally, after a podcast, I take five minutes before jumping on work email, which is disciplined because I'm like, what happened, And I literally step away Eric and I let myself just close my eyes and I swall. I'm like that filled me up, And I make sure that every cell in my body knows what it feels like to have a meaningful experience where I felt connection, I felt belonging, I felt connected to my purpose, and I participated.
Those are four.
Human needs satisfying. Right, that's a syner satisfier. So I take the time to not forget why that was important to me. Right, So that made my list yesterday. I'm sure yours will make my list tonight. You know, yesterday, I have a teenager who sometimes doesn't give us the time of day. And I happened to have breakfast with her yesterday. I'm like, again, I could go on my work email because guess what, there's always work emails to respond to, Like, hmm, she's in a chatty mood. I'm going to take ten extra minutes just to see how she's doing, ask her about finals. And I walked away feeling huh. We had a moment of connection and I saw it and I curved out time to protect it. And then I took a moment to say sheate like connection with my daughter, it was really important. And then lastly I would finish my recording. I was down in LA and I'm like, oh, do I want to wait two hours in the airport? I don't, right, I'm like, go to Southwest calendar. Can you help me get on an earlier plane. I was met with the most cheerful person and we had the sweetest conversation and I walked away. I was like, Wow, that's what kindness feels like.
Right.
And again I was in tsa line, just kind of waiting, closed my eyes. I'm like, let me just tell my body that's what kindness feels like, so that I know how to be that way with someone else.
So do you see how it can be very simple things?
And I had the practice of the wealth Mondola, which, by the way, I would encourage people to just like go on the website, print it out, put it on your bathroom mirror.
It doesn't have to be public.
I've trained myself to know what needs I'm satisfying, and then I take the time to connect it, and I just take the moment to let that compound, and then I go about my day feeling more full. Right, I eat less garbage because I'm actually more full.
Right, I spend less time scrolling on social media. I just feel different.
Thank you for sharing all that that's really was that helpful. It was completely helpful. And as I said when we talked about this earlier, I don't think this is despite having heard about this idea, you know, a long time ago. I remember early on interviewing Rick Hanson and talking about it, like probably nine years ago. All those things that you described are the sort of things that I also appreciate, Yeah, but don't reinforce exactly. Like my son came over last night. He's a twenty six year old, and I don't get to see him as often as I would like, And it was a lovely moment, but I didn't at the end of it spend a minute and try and internalize that. I too, when I get off a podcast conversation like this, feel okay, you know I love what I do. Yeah, but I'm just on email or I'm like, okay, preparing for the next A moment of kindness with a stranger is another one, Like, I genuinely appreciate those, and I notice them. So I think for me, what I've learned to do is, which is an initial step at least, is to notice those things. But I think I could do better on pausing like you're doing and just giving them a couple moments to settle in.
And there's two kind of takeaways or nuggets from that. Is that one, what's going through mind Eric is that these are economic acts, right, We're just not tracking how we're feeling fulfilled just for the sake of it.
These are economic acts.
And two, they will contribute to an experience of wealth and a deeper relationship to wealth and money. And there's a real reason to do it right. It's not just to feel good. It will help transform our experience personally and collectively to wealth, money and resources.
Well, I think that is a beautiful place to wrap up. You and I are going to continue in the post show conversation because I want to talk more about a phrase you just use that I've forgotten. What was it when you said that something satisfies multiple needs.
It's a synergistic satisfier bingo. We're going to talk about that.
Okay, We're going to talk a little bit more about defining enough for ourselves, and we're going to talk about hungry ghosts. So listeners, if you'd like access to the post show conversation, which is going to be wonderful, you can get access to ad free episodes, you can be part of our community, monthly meetings, all that stuff. You can go to oneufeed dot net, slash join and we would love to have you in the community. Elizabeth, thank you so much. This has been a real pleasure in a really great conversation.
Thank you, Eric. I have loved being here.
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