Breaking Cycles and Building Wealth
In today’s episode of Real Money, Lisa Chastain shares her personal journey towards financial freedom and the strategies that helped her overcome financial challenges. As someone who has experienced the highs and lows of money management, she recognizes the importance of understanding one’s financial mindset and changing limiting beliefs. With the aim of being relatable and providing valuable insights, she discusses her early life experiences that shaped her financial beliefs and the transformative realizations she had in college.
Lisa’s journey also chronicles the lessons she learned in overcoming debt and her discovery of the Stop Budgeting System. Through sharing her story, she hopes to inspire others to break through their own financial limitations by examining their core beliefs and learning new behaviors to achieve financial success.
Key Takeaways
- Identifying and challenging limiting financial beliefs is crucial for growth
- The Stop Budgeting System offers an alternative approach to managing money
- Personal experiences and mindset play a significant role in financial decision-making
Lisa’s Financial Adventure
Lisa, a 43-year-old money coach, is on a mission to help women build wealth, stop budgeting, and spend guilt-free. Her story is full of ups and downs, but she uses her experiences to empathize with others who have faced similar struggles. Lisa openly shares her journey, allowing others to see that she understands what they’re going through.
Throughout her 30s, Lisa experienced some challenging financial moments, including a divorce in 2017 and selling a beloved home. She often found herself in and out of credit card debt. However, she started her own company in 2017, aiming to be a fresh voice in the industry that helps others rebuild their finances and become stronger.
Each person has their own money story and beliefs that affect their financial decisions. However, understanding these beliefs can lead to a breakthrough and pave the way for a more secure financial future. Lisa’s journey serves as an example of how personal growth, self-awareness, and perseverance can lead to financial freedom and success.
Early Life and Financial Beliefs
Lisa’s life has been a rollercoaster of financial highs and lows. Born and raised in Las Vegas, her upbringing was humble, but her family managed to meet their needs. Her father worked as a stagehand, while her mother was a homemaker. In their household, money discussions usually revolved around scarcity, and when they did indulge in luxury, it was rare and cherished.
During her childhood, there were no conversations about investing or money management. Her parents’ beliefs regarding work and money revolved around simplicity, doing what’s necessary, and focusing on family. As a result, Lisa grew up with limited ideas of earning money, and these beliefs influenced her adult life as well.
As Lisa started college, she found herself surrounded by wealth and luxury, which exposed her to a different view of money. As she stepped out of her comfort zone, she faced a crisis of self-worth and turned to credit cards to accumulate debt to fit in. These financial challenges taught Lisa hard lessons and pushed her to change her approach to managing money.
Later in her life, Lisa became a financial advisor, defying her family’s expectations and their relationship with money. Their conservative approach to finances didn’t enable Lisa to learn about finances early on, but now she has gained a broad understanding of money and embraces its complexities.
Lisa discovered the power of altering her financial behaviors by ditching traditional budgeting methods and focusing on understanding her money beliefs. Knowing her money story has enabled her to manage her finances with confidence, and this insight has influenced her relationship with her husband, who also had a debt-ridden financial past.
Together, they have learned to use money in new ways, leveraging their skills and pushing themselves to have uncomfortable conversations. This journey of self-discovery and challenging traditional beliefs about money has led Lisa to become a knowledgeable and experienced financial advisor, sharing her insights with others who might be struggling to find their own financial paths.
About Lisa
Lisa discussed many tools that she used throughout her money journey and invites you to try them as well. As a first step, she recommends reading her book, Girl, Get Your $hit Together in which she helps women tackle their financial story and shares her entire story. After reading the book, she invites listeners to join the Stop Budgeting System– the very method she used to gain financial freedom and clarity.