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Episode: 281 - Change Your Financial Mindset with Two Simple Words

Do you ever feel like each month’s financial situation looks exactly the same, like you're stuck in a loop similar to Groundhog Day? The culprit might be how often you rely on the word "but." Although it’s just a tiny, three-letter word, it can have a significant impact on your financial decisions. Let’s discuss how swapping "but" with two powerful words can transform your financial outlook. 

 

 

How "But" Blocks Financial Progress 

Think about a time when you dismissed a suggestion with "but." Maybe it was advice about saving for a big purchase or improving your credit score. Every time you use "but," you invalidate the progress that could have followed. This small word often blocks any real change. 

To gain control of your finances and live a more peaceful, happier life, shifting your mindset is essential. A great way to start is by adopting a technique from improv. 

The Impact of "Yes, And" in Improv 

In improv, a key rule is "yes, and." It’s designed to help performers accept whatever situation they are given and then build on it. When I joined Toastmasters in 2012, I learned this concept in an advanced club that used improv. If someone in a scene says, “Look at that zebra,” and you respond with anything but agreement, it disrupts the scene. By saying "yes" and adding "and," the story keeps moving forward smoothly. 

Applying Improv to Your Finances 

How does this improv technique relate to personal finance? Let’s say someone advises you to "pay cash for your cars." If your immediate response is, "but I can’t," you’ve just shut down the conversation. Instead, using "yes, and" can open new doors. Responding with, "Yes, that's a great idea, and how can I make that happen?" leads to a much more productive dialogue. 

Changing the Way You Think About Money 

Using "yes, and" helps you receive financial advice rather than rejecting it. For instance, when you hear you should start budgeting, instead of saying "but I don’t know how," try, "Yes, I need a budget, and I’ll learn how to create one." This small shift can break negative habits and lead to better financial choices. 

By welcoming expert advice and trying out recommended strategies, you’ll start seeing different, better results. Adopting the "yes, and" approach allows you to take ownership of your financial success. 

Embrace Financial Growth 

When you come across financial tips online, instead of responding with "but," try something new: "Yes, this could work for me, and here’s how I’ll put it into action." This mindset shift can significantly improve your approach to financial planning. 

Conclusion: Shift Your Financial Mindset 

The "yes, and" principle from improv can be a powerful tool in your financial journey. It helps you move from simply hearing advice to actively applying it in your life. This simple mindset change could guide you to a more successful, less stressful financial future. 

Start today by replacing "but" with "yes, and," and begin turning your financial obstacles into opportunities for growth and success. 

 

Resources Mentioned

Get better results with your finances in 30-60 days - GUARANTEED. Watch this video to learn how! - https://www.debtfreedad.com/payoff-debt-in-60-to-90-days 

Free Tools and Downloads at www.debtfreedad.com

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Transcript: 

Chris Hawkins (Host)
00:00
Does every month look the same financially? Do you feel like you're stuck in the movie Groundhog Day? Well, one reason for that just might be that you use the word but—B-U-T—too much. Yes, the word but, the one word that your English teacher, or maybe a grandparent, told you erases everything that you said prior. If you want to change financially, you have to replace the word but with two other very important words. I'll explain.

00:38
Coming up in this podcast, this is the Debt-Free Dad Podcast, where we help normal, everyday people like you take control of your finances so that you can live a happier, less stressful life. My name is Chris Hawkins, and I will be your host for today's episode. From 2005 to 2008, my wife and I paid off just under $100,000 in debt, and we have been debt-free, except for our house, for over 15 years.

Now, I want to take you back to the year 2012. I had just finished my doctoral dissertation, which, by the way, was in the area of financial education, and I had just started thinking about becoming a financial coach. I thought, "Man, I want to go out and do speaking engagements. I want to become the next radio host, and I want to write books." So, I started looking for how to become better at public speaking, and I joined an international group called Toastmasters. Now, Toastmasters is a worldwide organization designed to help people improve their public speaking and leadership skills. About six months after I joined a local club, there was a group of people who wanted to start an advanced Toastmasters club.

02:22
We decided to incorporate improv in that advanced Toastmasters club. For those of you who may not be familiar with improv, think of the show Whose Line Is It, Anyway? where they make up everything on the fly. We would do improv scenes to build our humor, body language, vocal variety, and creativity. We learned that there are rules to improv—things you have to do for a scene to go successfully.

03:04
The very first rule of improv, at least the way we learned it in that advanced Toastmasters club, was yes, and—two words: yes and and. Now, here's what that principle means. In an improv scene, let’s suppose I’m working with somebody, and the audience suggests that we’re at a zoo. I open the scene by saying, "Look at that zebra over there," and the person doing the scene with me says, "That’s not a zebra." What that person just did is they didn’t say yes, they didn’t agree that it was a zebra, so they killed the scene. There’s nowhere for the story to go. In good improv, whatever the first person says, the other person agrees with it and builds on it. So, the principle of yes, and means that you agree, then do something in response.

04:29
Now, what does this have to do with personal finance? Well, a few months ago, my son bought me a Masterclass subscription for Father’s Day. I was going through the courses, and I saw one called Prepare to Be Unprepared by Amy Poehler from Saturday Night Live. I got excited because I thought, "Oh, this is a course on improv!" She started off by saying she was going to use the rules of improv to show us how they apply not just to improv, but to life. And it got me thinking. The first rule is yes, and.

05:36
How many times in our financial life do we hear something—maybe on this podcast, or in the Roots course, or on Facebook groups—that seems different from anything we’ve ever heard? For example, “Why not pay cash for your cars?” If your response is, "Well, I can’t," or, "But my car is breaking down," you’ve just used the word but. And when you use but, you’re rejecting the advice and sticking to the status quo. A better response would be, "Yes, and how do I do it?" That opens your mind to new ideas and solutions.

06:46
When someone says, "Don’t buy a brand-new car, keep your car, and save what you think you’d spend on a car payment for 10 to 12 months," and you say, "But my car is old," you’ve used but, and you’re more likely to go out and borrow money for a new car, getting stuck with payments and being upside down. Instead, say, "Yes, and how do I do that?" and you’ll be thinking differently and setting yourself up for financial success.

07:55
Using but is a way of rejecting advice, whether spoken or typed in a Facebook group. Try using yes, and. For example, when we talk about starting a budget, don’t say, "But I don’t know how." Instead, say, "Yes, I’m going to start a budget, and I’m going to learn how to do it." That’s how you use yes, and. It opens up new possibilities and helps you think differently.

08:45
There are countless examples of how we use but when we should be using yes, and. By replacing but with yes, and, you allow yourself to try something different and potentially get different results. When you hear advice from this podcast, the Roots of Personal Finance course, or from people who have done what you want to do, the correct response should always be yes, and. Use those two words to change your financial trajectory and put yourself on the path to financial success.

 

 

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