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Last week, we started a conversation on Maslow's hierarchy of needs because, with everything going on in the world, taking a step back to focus primarily on our most important needs can be a powerful source of healing and grounding. I don't know about you, but I could use a little bit of that! Today, we're continuing our conversation and making our way up Maslow's pyramid of needs to talk about safety with founder and CEO of The Accountant Therapist and Brown’s Fulfillment & Accounting Firm, Rose Brown.
Now, you might be thinking, “Carlee, why talk to a money expert about safety?” Well, the reality is that whether we like it or not, money plays a major role in our lives and how safe and secure we feel day to day. When we look at Maslow's hierarchy of needs and that second category he refers to as safety, a lot of the factors that fall into this category are things like employment personal security, resources, health, and property. Looking at this list, what you’ll notice is that virtually all of these things are either directly or indirectly affected by our financial situation.
In our society, money and security are very much linked. Money allows us to take better care of ourselves when we are sick, move into a home we feel safe in, and it even influences the jobs we take. So when we are trying to focus on our basic needs and ensure that our security needs are met, we have to address the great big money elephant in the room.
Building a healthy and secure relationship with our money and financial situation, wherever it may be right now, is a huge step forward in satisfying our needs. Fortunately, Rose had so many great tips to share with me on the show about how we can feel more secure in managing and maintaining our financial health (watch or listen above!). However, my absolute favorite tip of the day had to be this:
Spend where it makes financial sense, but never be frugal to the point where it costs you more money.
I've talked to a lot of financial experts both on and off The Stress Less Show, and I have to say that this tip stands out. Understanding when to be frugal and when to not be frugal is so critical to finding a genuine sense of security in the way we use money. I can literally think of an example from just a few weeks ago in my own life where this tip has come up!
I recently had to buy a new phone, and I know I’m not the only one out there who can relate to the feeling I had when I saw all the $40-$50 phone cases out there. I didn't want to spend the money! I already spent so much on the phone itself after all!
However, while I may have felt like I was saving money by walking away with a bare phone, what I was trading away by not just purchasing a good quality phone case was my own peace of mind. I swear if you could have seen me, I was walking around my house delicately carrying this new case-less phone, absolutely terrified of breaking it! I don't know about you, but $40 for a phone case sounds a lot better than living in fear of having to shell out hundreds of dollars to replace a broken phone.
When it comes to financial security, we put a lot of thought into how we can save and accumulate more money. And don't get me wrong, that's definitely part of the puzzle! However, knowing when we need to spend money is just as important in ensuring we feel safe and secure in our finances and every other area of our lives. So, I invite you to watch the episode above, learn more from Rose, and start to look at the way you are approaching your finances. Is your current approach serving you and how can you cultivate a greater sense of security in your situation now? Get curious!