Episode Transcript
[00:00:00] Speaker A: It is Take Control Tuesday. I'm on the phone with Mansa Musa and Mansa. We've been talking about preparing for hard times over the last few weeks and today we're going to talk about changing the way we think so that we can manage through hard times.
[00:00:17] Speaker B: Absolutely. One of the things that we can do is change our minds. I mean, the battlefield of the mind. What goes on in your mind, especially around the subject of money, because money and spending has so much emotion and consequences tied to it that it becomes important how you think about it and consider, you know, it's more than just glass half empty and glass half full.
But optimists live longer. So your mindset makes a difference in your life and it'll make so in your money. And we're going to start a series on approval mindset.
[00:00:58] Speaker A: Okay.
[00:00:59] Speaker B: Approval mindset is a way of thinking where you focus on making the most out of your money and resources. It's not about being cheap.
[00:01:10] Speaker A: Okay, I was going to ask that.
[00:01:12] Speaker B: Yeah, it's just not about being cheap, but by being intentional, thoughtful and value driven on how you spend, save and use what you have.
Now, let me show you some of the things that someone with the frugal mindset usually does.
Number one, they prioritize needs over want and carefully evaluate purchases.
Number two, they seek value, not just low prices.
They'll pay more for something if it lasts longer or serves them better.
Number three, they avoid waste, reuse, repurpose and repair when possible.
The next one is they think long term.
They see savings and investing as a path to freedom, not deprivation and sacrifice.
The final one is a fine satisfaction in simplicity, often choosing experiences, relationship and personal growth over material possessions.
It's not about extreme penny pinching or living joyously. It's about being smart, resourceful and purposeful with your money so you can use it for what matters to you.
Now that's a frugal mindset. And in our next session we're going to be talking about the behaviors and things that help you manifest that.
[00:03:03] Speaker A: Oh, I like all of that. And some of these things I think I'm practicing now, but I think it's one of those things where you have to continually practice these things.
[00:03:13] Speaker B: And the other thing is you got to play to the level of your opposition, so to speak.
Times have gotten harder. The economic realities, the economic fundamentals have changed. You've got to up your game to stay the same right now because of the changes coming in the economy, you have to up your game just to.
[00:03:39] Speaker A: Stay where you are for sure. Well, I'm looking forward to the rest of the series. Of course. Take Control Tuesday can be found on detroitpraise network.com and as always, you can share, you can like and give everybody this information because it's always so important. Thank you so much, Mansa.
[00:03:58] Speaker B: Thank you.
