We’re all taught to fear… fear. But what if we welcomed fear into our lives as a friend? America’s leading personal finance expert, Farnoosh Torabi, joins us to discuss how fear can fuel financial success as well as money and mental health.
In our interview, Farnoosh, author of the new book A Healthy State of Panic, chats about how to use fear to push yourself into an abundant life.
Episode Overview
Farnoosh Torabi reviews the following:
- Why fear has such a negative connotation
- How fear played a positive role in her financial success
- The steps we can take to understand our fears and propel forward
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Key Takeaways on Why Fear Is Your Friend
Here are my top three takeaways from my conversation with Farnoosh Torabi.
Recognize Your Fears
We all have fears. Some are financial, some are emotional and some are physical.
It’s important to recognize our fears so we can address them.
Take some time to write down your fears. Think about why they scare you.
For example, I’ll share:
- I’m afraid of my wife leaving me
- I’m afraid of my kids dying at a young age
- I’m afraid of my business failing
I wrote these down and I had some time to think about them.
Get Motivated By Your Fears
Once you clearly define your fears, it’s time to get motivated by them.
For me, I don’t want my business to fail. Well, I need to ensure my business emergency fund is sufficient to weather any storms that lie ahead.
Perhaps you’re worried you’ll get laid off from your job. Same situation! Creating an Emergency Fund of 3-6 months of expenses will give you the space and time to breathe and find a new income opportunity that works best for you.
Find Community
Recognizing our fears and taking action to conquer them becomes a lot easier when you have people on your side.
The next time you have an opportunity to talk to or be with a close friend, share your fears with them and talk about how you’re taking action on those fears.
This does a few things …
- It helps you get an emotional weight off of your shoulders by sharing
- Your friend can now hold you accountable for the actions you’re going to take to improve
- And, your friend may now feel compelled to share similarly… thereby improving their lives as well
It’s a win-win-win.
So yeah, I’m with Farnoosh … Fear can actually be a blessing.
Guest Bio – Farnoosh Torabi
Farnoosh Torabi is one of America’s leading personal finance experts and the host of the award-winning podcast, So Money, that has earned over 25 million downloads. She is a sought-after speaker and author of multiple books including her latest entitled “A Healthy State of Panic: Follow Your Fears to Build Wealth, Crush Your Career, and Win at Life.”
Carpe Diem Quote:
“I'm not afraid of storms, for I'm learning how to sail my ship.”
Louisa May Alcott
What do you think of the advice from Farnoosh Torabi? Do you think fear is your friend?
Please let us know in the comments below.
