How to Overcome Your Debt Guilt with Sarah Li Cain

It's the most wonderful time of the year...to talk about debt! I don't know about you but this time of year always triggers my money anxiety. I worry that I am spending too much or not enough. Then I beat myself up when the credit card statements come in.

This week on Do the Damn Thing, I had the opportunity to chat with author, finance writer, and holistic money mentor Sarah Li Cain. Sarah focuses on integrating physical, spiritual, and mental wellness so that money becomes a tool to enhance lives. She’s written insightful articles for places such as Credit Karma and Lending Tree, and she is the co-host of Beyond The Dollar -- an innovative podcast created by Sarah and her friend Garrett Philbin where they advocate for honest discussions about the emotional aspects of finance. Sarah blends practical tips with mindset strategies to help others take charge and embrace their starring role in their financial lives.

During this episode, Sarah chronicles her own humbling experience with debt and shares how she’s learning forgiveness so she can move forward without shame. She explores the inherent spirituality in mastering your money as she discusses the vital role that gratitude plays in finance and mindset matters, as well as vividly illustrates the importance of setting gradual goals. Sarah shares valuable advice on rewriting your money story by avoiding the comparison trap, how she jumpstarts her morning with gratitude, and how she finds little ways to make finances fun. I’m so excited that she could join us for this eye-opening look into shifting our money mindsets!

During our conversation, Sarah discusses how strongly negative thoughts influence the way we perceive ourselves when it comes to money matters. She sheds light on the difficulty in separating self-worth from net-worth and offers tips to help others from falling into this harmful cycle of thinking; “You want to psych yourself up for success.” Instead of focusing on the feeling of shame and saying terrible things about yourself, remember the good things that came from making that financial decision and be grateful for the experience so you can move forward more confidently.

Sarah shares the dangers of forgetting where we started as she gives beautiful advice on putting things into perspective: Look back to see how far you’ve come. When you’re feeling stressed out about where you are now, revisit where you began to appreciate how much you’ve accomplished. This will bolster your spirit, realign your priorities, and give you a more clear view of your goals.

My favorite takeaway from my chat with Sarah is inspiring: “If you’re bad with money right now, it doesn’t mean you’re going to be in the future.” You have all the power you need to shift your money mindset and flip the script for what lies ahead. Don’t miss out on all of Sarah’s enlightening tips, tricks, and insights during this episode!