How to pull your head out the sand and overcome financial avoidance

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5 minutes to Finance Well

Beth Clay

40 episodes

1 day ago

Bite size financial tips to become financially well one podcast a time. We'll address common financial concerns like ending up with no money, feeling guilty after spending, and handling awkward financial conversations with family. Dive into topics including why wealthy people use debt to grow their money, how much you should be getting paid, and effective saving strategies. Join us weekly for honest, judgment-free discussions designed to improve your financial well-being and make you feel good about managing your money. Subscribe, share, and tell us your biggest money challenges.

Self-Improvement

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Self-Improvement

Education

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How to pull your head out the sand and overcome financial avoidance

5 minutes to Finance Well

5 minutes 43 seconds

7 months ago

How to pull your head out the sand and overcome financial avoidance

In this episode we explore the psychology behind the 'ostrich effect,' a common phenomenon where individuals avoid distressing financial information, such as debt and bank balances, to reduce anxiety.

We delve into why people adopt this coping mechanism, the long-term consequences of such avoidance, and actionable steps to overcome it.

Tune in to learn how to face your debts, create a realistic payment plan, and gain confidence in managing your financial health. Join us for practical advice and empowering tips to pull your head out of the sand.

Let us know your thoughts on the ostrich effect and write in with any money challenges you'd like addressed on the show.

Beth x

00:00 Introduction to the Ostrich Effect

01:08 Understanding the Ostrich Effect

03:02 Psychological Reasons Behind the Ostrich Effect

03:46 Overcoming the Ostrich Effect

04:03 Practical Steps to Manage Debt

04:47 Seeking Help and Celebrating Wins

05:25 Conclusion and Final Thoughts