345. From Debt to Control: Mastering Money Management Skills

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In this episode, Brad Nelson, founder of Debt-Free Dad, tackles the common belief that some people are just 'bad with money.' Brad explains that being good with money is not an innate trait but a learned skill. He shares insights on overcoming financial mistakes, changing your mindset, and adopting better money management practices. Tune in to discover how to break free from living paycheck to paycheck, reduce financial stress, build savings, and pay off debt. Brad also discusses the importance of consistency, simple systems, and the right tools for achieving financial freedom. 

Chapters

• 0:00 The Money Mindset Myth
• 0:34 Brad's Debt-Free Journey Introduction
• 1:02 Money Skills Can Be Learned
• 2:12 Flipping Your Financial Script
• 4:23 Simplify My Money Newsletter Offer

Transcript

Brad Nelson: 0:00

I'm just not good with money. Now, if you've ever said that or even thought it, this episode is gonna be for you, because here's the truth being good with money it isn't something that you're born with, it's a skill. And if no one ever taught you how to manage money, that's not really your fault, but staying stuck, that is your fault. Now, today, I'm gonna help you break down why this belief is holding so many people back and how to finally flip the script in your life. Hey guys, welcome to today's show. I'm Brad Nelson, founder of Debt-Free Dad. I paid off about $45,000 in debt. I've been debt-free now for more than 12 years. I've also helped thousands of other people save and pay off tens of millions of dollars with the work that we do here at Debt-Free Dad. Now, guys, after listening to this episode, if you're ready to take things to the next level, you're ready to break free from living paycheck to paycheck, reduce stress, build savings and finally pay off your debt for good. But again, maybe you're just not sure where to get started. Right, we've created some awesome free resources here at Deferredad to help you get started, and I'll be sharing some details about those later on in today's episode. So, like I said in the introduction, I'm just not good with money, right? And again, maybe you've said that after overdrafting your account or making a big mistake, or after looking at your credit card balance and wondering how the heck did that get so high? Or maybe you've just believed so long that you're bad with money. It just feels like it's a fact, right. But here's the truth. That belief it's total garbage. Being good with money isn't a personality trait. It's not something that you're born with, it's not part of your DNA. It's really a skill and like any skill like think about cooking, riding a bike, lifting weights those skills can be learned, practiced and improved, and so can your finances. So if you've ever thought I'm just not good with money, what you probably meant was well, no one ever taught me how to manage money the right way, or I've just made some big mistakes and I feel ashamed about it, or even I've tried to fix it before and nothing ever worked. Nothing stuck. So I've kind of just thrown in the towel and given up and look, I totally get that. I've kind of just thrown in the towel and given up and look, I totally get that. I've been there. But let me tell you something you might need to hear today. You are not broken. You are not bad with money. You just haven't had the right tools or the support to get real progress with your finances.

Brad Nelson: 2:19

The people you think are good with money they're not financial geniuses. They're not naturally disciplined or gifted. They're human, just like all of us right. They just know where their money is going. They are intentional with understanding where every dollar is being spent and where they're saving it and what their goals are. They have a simple system that they stick to right. They stay disciplined and consistent and when life gets messy because it always does they just reset and they get back on track. Nobody gets this perfect. That's it right. They're not perfect. They mess up too. The difference is they don't let that one mistake become a major meltdown. Right, and that's where most people screw up. It's not that they don't know what to do, it's just that they don't do it consistently.

Brad Nelson: 3:09

So if you've been carrying around this identity that says I'm just bad with money, I want you to flip the script after today's episode. Instead of saying I'm not good with money, start saying I'm learning how to manage my money better, starting right now, starting today, and then you say that every day, that small shift in identity. That's where real change begins to happen. And again, I want you to make this really clear you don't need to be great at math Heck, I'm not even great at math and I run a company that helps people get out of debt. You don't need to obsess over spreadsheet, budget forms and all that. You don't need to be perfect. You just need to get really clear on what's going on with your money. You need to take one small step at a time. Give yourself permission to learn and make mistakes, because they're going to happen and that's okay. You can become someone who's confident and in control with your money, no matter where you're starting from or how much debt you have.

Brad Nelson: 4:10

So, again, instead of thinking that you're bad with money, instead be proactive. Remember, you're working on this, it's work in progress and every day you work on it, you're going to get better. All right, guys. Now if you're ready to break free from living paycheck to paycheck, you want to reduce stress, you want to build savings and finally pay off your debt for good. But again, maybe you're not sure where to start. Don't worry, we've got you covered.

Brad Nelson: 4:34

Simplify my Money is sent to you each and every Sunday to your email. Now, simplify my Money is a step-by-step roadmap to better financial control. You're also going to learn easy-to-follow strategies to manage your money more effectively. You're going to get stress-free money decisions, because this newsletter is going to help you simplify your financial life with proven tips that actually work, and you're going to gain the tools and confidence to tackle your financial goals head-on. All you got to do is sign up for Simplify my Money by clicking the link at the top of the show notes. Hey guys, thanks for joining us on today's episode. We appreciate you and we will see you guys on the next show.