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Ep17: Money and Mental Illness – Abigail Perry

Episode #17: Frugality for Depressives – Managing Money When Dealing With Mental Illness – With Abigail Perry



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Abigail Perry HeadShotBio: After a rare neurological disease nearly killed her at 19, Abigail was left with chronic fatigue and depression. She shares her story and encourages others. Abigail believes that “Everyone has limitations, no matter what your health and income levels look like. Most of us have a near-infinite number of things we should do (or want to do), but an all-too-finite amount of time and energy. Every day we make mistakes or take shortcuts due to overcommitment, stress, health issues or simple exhaustion. That’s not a flaw or personal failing. It’s normal. It’s human. The sooner we can accept this, the sooner we can find peace and balance in our lives.”

Show Description: Abigail and I discuss the influence of depression and mental illness on finance, and some practical ways to cope with finances while not giving up completely. We discuss comfort spending, creating inertia, and automation in making finances easier. Many many more powerful skills and ideas are found in her book!

ShowNotes:

  • 0:53 – About Abigail
  • 2:10 – Budgets and Mental Illness
  • 5:15 – Finding What Works For You
  • 6:50 – Online Bloggers: Only Sharing Success. “Everyone has Foibles”
  • 7:40 – The Foibles: Breathing Room, and “The Dad Syndrome”
  • 11:11 – Comfort Spending: Making Room For Hard Moments (and Weeks)
  • 13:40 – Building Enjoyment: Planning and The Power of Anticipation
  • 17:21 – What You REALLY Want – A Reason For Spending Habits
  • 20:40 – A Flurry of Powerful Habits from Abigail for Depression and Finances
  • 23:10 – Abigail’s Money Maxim

Money Maxim

MM36 - Frugality

“Celebrate Every Win, Big or Small, It’s Still Progress” – Abigail Perry

Action Items

Plan fun events 3-4 weeks out. Plan a vacation next fall, or next summer. Having an exciting event to build up to can keep you focused, empowered, and committed to a fun thing you can talk about, invite friends to, and help fight depression with. Plans create excitement, and a goal to work towards.

Realize when you’re expecting too much. And question why. Who told you that that expectation is required? Is it yourself? Or someone else who’s appearing perfect?

Create Buffer room in your Budget! If your spending plan doesn’t have extra money, or “cash nuances” or “fun money” you’re doing it wrong!

Share Your Wins! Share on FinancialGinger or In the Comments Below!

Contacts and Links from the Show

Buy Frugality for Depressives from Abigail Perry on Amazon! or from Barnes & Noble
I Pick Up Pennies, Abigails Blog. Her Facebook Group, Pinterest, and Twitter

Gift card granny is an aggregate site so you can check who has the best discount for the card you want. You can earn Granny Points when buying from certain sites, and you can trade those in for gift cards.

Unfortunately, Gift Card Granny doesn’t show results for CardCash though, which I also highly recommend. Every couple of months it offers an extra 3-5% sitewide. I get 16% off Walgreens or CVS gift cards.

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EP9: A Dollar From Your Pocket – with Paul Vasey of Cash Crunch Games

Episode 9: A Dollar From Your Pocket – with Paul Vasey of Cash Crunch Games




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Bio: Paul Vasey, former teacher of business from the Uk, who is now living in the US working on financial literacy games after noticing that there was such a need for this overlooked and under rated life skill. Money is everywhere, we use it every day and are expected to be experts. If that was the case, there would be very little student debt credit card debt, fore closures and so on.

Currently has 2 games in the market – CashCrunch Junior – a physical board game for 7 to 12 year olds & CashCrunch 101 -an online game for ages 13 and upwards. Both games focus on learning the value of money, saving first, cashflow, budgets and making smarter decisions.

Show Description: Paul Vasey and I discuss Money Habits and some of the basic ideology of building savings and wealth. Simply Save First, Spend Later. We discuss Cash Crunch Games for kids and young adults and even college students and some practical ways to think about and spend in a more cognizant manner.

ShowNotes:

  • 1:03 – What is Cash Crunch Games?
  • 4:00 – Money Habits: Basic Money Skills People Learn
  • 4:30 – Basic Ideology of Passive Income
  • Over 50% of households can’t afford an unexpected bill of $500 of more
  • 40% of Americans spend more than their income each month
  • 5:35 – Join the Club: Save First, Spend Later
  • 6:45 – The Simplicity of Saving: A Dollar in Pocket
  • 8:18 – Anchoring: Mindset in Savings
  • 9:50 – Reasons We Overspend: Money Habits
  • 10:45 – How to Change Over Spending to Healthy Spending
  • 12:20 – Formula to Calculate Your Hourly Wage Quickly
  • 12:45 – The Question: Is It Worth My Time for This, Not Is It Worth This Money
  • 14:23 – Savings Is Investing Your Time In Yourself
  • 14:40 – Attitude “Spending Time” or “Investing Time”
  • 16:05 – Saving Is A Habit And Muscle, Strengthened Like A Gym
  • 17:45 – Start with little things. Empty your pockets!
  • 18:10 – It’s Not About the Number, It’s About the Habit
  • 19:50 – The Power of Habit Explained
  • 21:02-22:11 – An Exercise With Your Money: Try This At Home!
  • 23:00 – Cash Crunch Junior: Applied Learning Tools for Kids
  • 24:30 – Basic Principles Of Finance
  • 27:15 – Teaching Life Skills

Money Maxim

Save First Spend Later

 

“You Can’t Spend The Same Dollar Twice” – Paul Vasey

Action Items

  • Start saving $100 (or your choice, $10, $25, $50, $500) a month more than you currently are. Create a second bank account, or an extra checking account for that money. Make it a challenge with a friend to see who can save the most in a set period of time! (Loser pays for bowling!)
  • Quickly calculate your hourly wage. Take 3 zeros off the end and divide in 2. ($60,000 a year = 60 /2 = $30 an hour roughly).
  • Consider your next few purchases with that wage in mind. Is it worth that much of your time for this object/experience?
  • Consciously think about time you “Spend”, start thinking about how you’re “Investing” that time. Comment what that means to you below!
  • Take Your Monthly Income in Monopoly Money and Show Your Kids Where It Goes. (Physically show them!) It’ll help them learn about money.
  • Try Out Cash Crunch Games Online Version of their game!
Save First, Spend Later – Paul Vasey @CashCrunchGames Click To Tweet

Contacts and Links from the Show

Cash Crunch Games – WebsitePlay The Simple Online Version

CashCrunch Connect:

Rich Dad Poor Dad – Book

7Twelve Portfolio – Craig D Israelson

The No-Cash Allowance – Teaching Your Children How To Manage Money Practically