Aspire Insights: How Not Talking About Money Is Stopping You From Making It with Nicole Lapin

In this episode, Emma Grede delves into the often-taboo subject of money, not just from a numerical perspective but also from a psychological standpoint. She believes that while money can constrain us, it can also liberate us if approached correctly. To help listeners navigate their financial journeys, she invites money expert Nicole Lapin, a bestselling author known for her straightforward financial advice and popular podcast 'Money Rehab.'

Nicole shares her perspectives on why conversations about money are uncomfortable, citing that money remains a cultural taboo, often tied to our self-worth. She emphasizes that many common beliefs about money—like being 'too old,' 'not having enough,' or claiming 'I'm not a numbers person'—are merely excuses that hinder personal financial growth. Nicole recounts her journey from a poetry major to a financial expert, highlighting that anyone can improve their financial literacy, suggesting that it's essential to start with baby steps.

The episode covers various aspects such as the importance of recognizing financial trauma rooted in childhood, the need for self-discipline around money, and practical financial habits that can lead to stability and growth. Nicole advises listeners to automate their finances, seek knowledge, and avoid the misconception that they need to know complex finance to succeed. She encourages starting with small, manageable steps, emphasizing the potential of compound interest and diversified investments like index funds.

Additionally, they tackle the idea surrounding wealth and investment, stressing that wealthy people often talk about their financial strategies, like using leverage and investing in assets rather than spending recklessly. Nicole also discusses the importance of creating a financial plan, the concept of opportunity costs, and the significance of not assuming that owning a home is the only path to wealth.

In conclusion, both Emma and Nicole advocate for a proactive approach to financial health: educating oneself, engaging in financial conversations, and recognizing the long-term benefits of wise investing. They remind listeners that financial independence is achievable and that wealth must be actively built rather than passively gained.