Financial Feminist – 118. Overcoming Financial Fear with Farnoosh Torabi

Intro

In this episode of the Financial Feminist podcast, host Aya shares a conversation with Farnoosh Torabi, a leading personal finance expert and host of the award-winning podcast “So Money.” They discuss the importance of overcoming financial fear and how it can be used as a superpower to achieve true wealth and career success.

Main Takeaways

Overcoming Fear for Success

• Overcoming fear of failure is important for moving forward and achieving success (Farnoosh Torabi)
• Accepting failure as a learning opportunity is crucial for personal growth (Farnoosh Torabi)

Financial Stress and Halloween Traditions

• Financial anxiety is a common issue among US adults, with 52% reporting that money negatively impacts their mental health, according to a 2023 study.
• Women are more likely to experience financial stress than men, with 56% of women reporting negative effects on their mental health compared to 47% of men.
• Financial Feminist shares her tradition of coordinating Halloween costumes with her father, who hand makes his costumes and takes it seriously.

Fear as a Superpower

• Financial Feminist’s guest, Farnoosh Torabi, is a leading personal finance expert, host of the award-winning podcast “So Money,” and author of the upcoming book “A Healthy State of Panic.”
• “A Healthy State of Panic” is a memoir and guidebook that explores how fear can be used as a superpower to achieve true wealth and career success.
• The podcast episode discusses different types of fears, including those around finances, careers, and relationships.
• The speaker argues that fear can sometimes be healthy and not something to avoid at all costs.

Identifying and Overcoming Fears

• Aya’s book, “A Healthy State of Panic,” discusses different types of fears, including fear of failure, fear of uncertainty, fear of rejection, and FOMO.
• The fear of failure can be a nudge to tell us that our standards for success are out of whack.
• Talking to her mom helped Aya realize that failure is not the end of the world and that it’s important to learn from mistakes.
• It’s important to work in an environment that nurtures and fosters growth.

Money and Fear

• Fear around money is often rooted in past experiences and stories we tell ourselves about money.
• Money is just a tool, but we give it a lot of power and fear.
• Tracing back the root of our fear around money is important to understand our relationship with money and how to rewrite our fear narrative.
• Fear of earning more money can also hold us back, but it’s important to examine why and rewrite that narrative.

Summary

Overcoming Fear for Success

Farnoosh Torabi emphasizes the importance of overcoming the fear of failure and embracing it as a learning opportunity. By accepting failure as a natural part of personal growth, individuals can move forward and achieve success.

Financial Stress and Halloween Traditions

Financial anxiety is a common issue among US adults, particularly women. The Financial Feminist shares her tradition of coordinating Halloween costumes with her father, highlighting the importance of family traditions and finding joy in personal hobbies.

Fear as a Superpower

Farnoosh Torabi’s book, “A Healthy State of Panic,” explores how fear can be harnessed as a superpower to achieve true wealth and career success. The podcast episode delves into different types of fears and challenges the notion that fear should always be avoided.

Identifying and Overcoming Fears

Aya’s book, “A Healthy State of Panic,” delves into various fears individuals may experience, including fear of failure, uncertainty, rejection, and FOMO. The importance of learning from mistakes and creating an environment that fosters personal growth is emphasized.

Money and Fear

Fear around money is often rooted in past experiences and the stories we tell ourselves. Understanding our relationship with money and rewriting our fear narrative is crucial. Additionally, fear of earning more money may hold individuals back, but examining the underlying reasons can help rewrite that narrative.

Conclusion

Overcoming fear and embracing it as a tool for personal growth and success is a key theme in this episode. By understanding and addressing our fears, we can rewrite our narratives and achieve true wealth and career success. It’s important to recognize that fear can be a motivator and a guide, rather than something to avoid at all costs.