Negativity schema is a pattern of negative thinking that assumes failure and prevents people from trying. Experiencing negative schema is having a negative, self-defeating attitude. This type of thinking can be incredibly destructive when it comes to money. Negative thinking is powerful and hurts progress and success.
Our brains are wired to look for threats and even biased toward bad outcomes. This can lead to paralysis and prevent us from taking positive action. James talks about how negativity schema can affect us and how to inject optimism and happiness in our thoughts to have better outcomes financially and in life.
Episode Highlights:
[02:21] We don’t talk about negativity much on this podcast, so this is going to be a tough one.
[02:57] Negativity can be so powerful because our brain is already wired to look for threats. Our brains can be biased towards bad outcomes in order to protect ourselves.
[04:08] The final end result of negativity often is paralysis. This can force you into a trap of being stuck and just staying where you are.
[05:03] Every positive thing we want to do requires action and a sense of hope. We need to think that we can do it, yet negativity will tell us that’s not true.
[06:02] You can talk yourself out of everything that it takes to make progress with a negative attitude. Talking yourself out of not making progress leads to no progress, and your brain can justify your original negative thoughts.
[07:54] The only way to fix this problem of negativity is to change the way that we view the world. We need to intentionally inject optimism and happiness into the story that we are telling ourselves.
[09:15] If happiness buys money, we need to start with happiness.
[09:44] Ways to change negative thinking. Understand your history and tell yourself a story of how you got here that shows you the positive.
[10:51] Our thoughts really do have all the power. Do a cost-benefit analysis of the thoughts that you’re thinking.
[12:25] Accept failure as a necessary step towards success. Failure is actually part of the steps to success.
[14:11] Happiness, joy, delight and positive emotion are things that come from us.
[16:06] This is the key that unlocks all of the behaviors that lead to sustainable disciplines that create wealth.
Resources & Links Related to this Episode
- Wealthquest Get Started
- Living a Rich Life: The No-Regrets Guide to Building and Spending Wealth
- Episode 205 Happiness + Financial Success (Please Link)
- Overcoming Negative Self-Thinking
