If you’ve ever engaged in retail therapy to feel better, you probably have a good idea how emotions can sabotage your money habits.
In fact, per research from Ramsey Solutions, around one-third of Americans say they’re more likely to spend money when stressed or emotional.
In her book “What No One Tells You About Money,” Jade Warshaw talks about finances and emotions and how to bridge the gap between what you know and what you actually do. According to Warshaw, you must embrace the things that require endurance if you want to win with money.
Embrace Endurance and Maturity
In a video on TikTok, Warshaw pointed out several key financial moves requiring endurance. Picking up a side hustle, paying down your debt and saving up an emergency fund all require some level of endurance. Warshaw said endurance and maturity go hand-in-hand.
“I mean if you look at it at its core, having endurance simply means you’re willing to stick with something that’s very tough, very difficult, very uncomfortable for an extended period of time,” Warshaw said. “Think about it, most of the goals you have it’s going to take an extended period of time.”
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Stick to the Plan
According to Warshaw, you’re going to need to embrace endurance and stick to your plans because it’s going to take some time to get out of debt and save up three to six months of expenses for the first time.
You’re not going to get out of debt overnight, you’re not going to save up three to six months of expenses for the first time in two weeks now.
“The person who wants to try to bypass tests and trials, the person who wants to bypass the struggle, the person who’s trying to bypass the sacrifice — I will argue you’re not a mature person,” Warshaw added. “And you need maturity to be able to handle money in a better way.”
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This article originally appeared on GOBankingRates.com: This Is What You Have To Do If You Want To Win With Money, According to a Ramsey Expert
