BBF093: Improve Your Relationship with Money with Joan Sotkin

We’re all trying to make money in our businesses, but do we really know how to handle the money? Joan Sotkin explains to us some of the emotional pitfalls related to the process of making money, and what you can do to avoid them. Joan is the author of the hugely popular book “Build Your Money Muscles” and hosts The Prosperity Show podcasts which is now over 200+ episodes old. We know firsthand just what an achievement that is!

Joan is all about an holistic approach to business, having learnt from her own bankruptcy, and also from her inability to cope with financial success. She’s had a long and spiritual journey which began the day she asked herself “why do my brothers have what they want, and I don’t?” Read on for some of the spiritual nuggets that have helped Joan succeed in business and in life outside of it:

** Our emotions are our decisions. Emotions are our bridge from our internal world and the world around us.

** Meditation is a great tool to help find your own good judgment.

** The emotional habits that we learn through childhood can often hold us back. Don’t underestimate the quality of your heart-felt judgment.

** Money doesn’t take care of itself – you have to take care of it.

The main message to understand is that any amount of money means something emotionally. Whether it’s high or low, more than enough or not enough, there is an emotional reaction to it. Once you understand what that emotional reaction means you can find ways to change it for the better, or keep repeating the good feeling. In this episode of Business Brain Food you will learn:

** The emotion around money

** How shame can affect financial judgment

** How “touch” affects our everyday life

** “The identity factor”

** How to handle suddenly coming in to money

** The difference between feeling emotions and burying emotions

  Resources mentioned in this episode:

** This week’s sponsors, Bartercard are offering an interest-free line of credit of 10,000 AUD with a bonus 500 AUD. Visit: bartercard.com.au/actioncoach for an exclusive offer for Business Brain Food listeners.

** Joan’s site: (http://prosperityplace.com/)

** Joan’s course: The Financial Freedom Formula (https://www.udemy.com/financial-freedom-formula/)

** Rode Videomic Me - directional microphone for ipad/iphones (http://www.rode.com/microphones/videomicme)

** Videoshop app for editing video (https://play.google.com/store/apps/details?id=com.videoshop.app)

** Youtube Uploader (http://download.cnet.com/Youtube-Video-Splitter-Uploader/3000-2194_4-75000404.html)

** Sponsor the show: [e-mail], put in subject line “interested in sponsoring BBF”

** Ben’s Daily Business Tips podcast (http://www.dbtpodcast.com)

** Facebook (facebook.com/businessbrainfood)

** Facebook group (https://www.facebook.com/groups/businessbrainfood)

** Twitter (https://twitter.com/bfewtrell)

** ActionCOACH (http://actioncoachanz.com/itunes)

** ActionCOACH (http://actioncoachanz.com/stitcher)

  It’s really important that you judge success in more lateral terms than money earned or money lost. Listen to the show for a load of shortcuts that will tell you how. Also, if you are enjoying these Business Brain Food podcasts, then make sure to share them via social media sites or email the links to family and friends. A lot of time and effort goes into producing each of these podcasts with the goal in mind of the more people we can inspire about business the better. You can help us do just that! Until next time, have a profitable day. Cheers, Ben Fewtrell [phone]