EP14: The Secret Shame of Money Mistakes with Katherine Lankford

Her Money Story Podcast

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3y ago 46:26

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Today, we will talk about a rarely discussed topic: the intersection of money and shame.

I first got interested in this when I read an article in 2016 by Neal Gabler in the Atlantic titled "The Secret Shame of the Middle-Class", as it resonated with me both professionally and personally.

I've had my share of making shameful mistakes in my own finances, and, similarly, my clients and prospects too beat themselves up for it.

In this episode, we get raw and real with Katherine Lankford to talk about experiencing a mortgage trifecta during the meltdown of 2008 when she had to close down her mortgage business, make a short sale, a deed in lieu of foreclosure all in a short time frame.

This is one episode you don't want to miss! Watch Her Money Story — THE SECRET SHAME OF MONEY MISTAKES with Katherine Lankford ▶️

Key points covered in this episode:

✔️ We need to stop whispering & start talking about financial failures to help other people. When she was going through the mortgage trifecta in 2008, Katherine Lankford asked herself how a smart, educated woman like herself ever ended up in that situation. She shares her mindset to survive, how she turned around her situation, threw off the shame, and is now thriving.

✔️ So many of us were never taught financial literacy when we were younger. We've seen and experienced how money mistakes have made entire generations poor quality of life. Today, there is more focus on starting financial education programs for children. Teaching how to budget, save, eliminate debt and start investing has become essential life skills. Don't wait until you are 30, 40, 50 or 60 to learn hard lessons; instead, look at the experience and mistakes of others and take charge of your financial habits now.

✔️ Some people try to hang on for so long to their properties and end up relinquishing even more money than they had to lose. It would be best if you cut your losses to go out less hurt in dire situations.

✔️ It takes time, intention and being fierce about protecting your credit and rising back up. There is no quick fix to everything. Through study and implementing financial strategies, Katherine was able to pay off thousands of dollars of credit card and student loan debt, build up her savings, and increase her credit score.

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Felicia Gopaul, CFP, is the Premier Women's Wealth Builder

dedicated to your financial success!

Ms. Gopaul is a Money Confidence Catalyst and author of an Amazon best-selling books "Preparing for the Five Ds: Divorce, Disability, Downsizing, Disasters, and Death" and "Local Business Mavericks - Volume 20: Insights & Innovation From Top Local Business Owners, Professionals & Community Leaders."

She is also a speaker and Certified Financial Planner Ambassador (only one of 50 people in the United States). She teaches accomplished, successful and educated women to heal their money mistakes, rebuild their wealth, and ultimately reclaim their power.

If you want to master your money and go from feeling even a little bit of self-doubt ➔ safe➔ secure & ultimately in control of your financial destiny, apply for a Financial Breakthrough Session at https://feliciagopaul.pages.ontraport.net/financial-breakthrough-session

17 episodes

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