Spencer Sherman is a financial expert who teaches how to embrace money mindfulness and 
is known for his unique approach to money. With an MBA and a CFP® designation, he founded and led Abacus, a company that managed $3 billion in assets. Spencer believes in breaking the taboo around money and teaches people that their self-worth is way more important than their net worth. He helps clients transform their relationship with money, guiding them to embrace abundance without shame. Spencer hosts a retreat called the Mindful Advisor Retreat for financial professionals. He is dedicated to helping you discover your “Enough” number and foster a mindful mindset regarding money.
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Contact Info
- Company: Founded and led Abacus
- Website: www.spencer-sherman.com
- Free E-book: www.spencer-sherman.com/free
- Podcast: The Spencer Sherman Podcast
Most Influential Person
- Bhikkhu Analayo (A Buddhist monk from Germany)
- Sharon Salzberg
- Joseph Goldstein
Effect on Emotions
- Mindfulness has made a big difference in how I handle my emotions. It's like this story about an eight-year-old boy. Imagine I received an upsetting email from one of my business partners. I really wanted to respond angrily, but then mindfulness kicked in.
- I realized that reacting like that would lead to a pointless argument. So, I decided to let it go and sleep on it. By morning, my partner apologized, and the issue resolved itself without my intervention.
- Mindfulness helps me avoid knee-jerk reactions and provides more choices. It's like in the investment world when we panic and sell everything during a market drop. Mindfulness creates space for other options beyond our initial, rigid reactions.
Thoughts on Breathing
- Breathing is super basic, right? We can chat about money all day, but you know what? Breathing matters too. It's like finding contentment in something as simple as taking a breath.
- I call it the “money breath” because it helps when I'm shopping and anxiety hits. In those moments, our breath can get shallow, denying our brain much-needed oxygen. We need a pause to widen our perspective and consider more choices.
- The money breath involves exhaling longer than inhaling, and science says it calms our nervous system, shifting us into a more relaxed state. That's when our money smarts kick in, which, by the way, we all have; we just need to tap into them.
Suggested Resources
- Book: A Path With Heart: A Guide Through the Perils and Promises of Spiritual Life by Jack Kornfield
- Book: Real Happiness by Sharon Salzberg
- Book: Radical Acceptance by Tara Brock
- App: 10 Percent Happier
- App: Waking Up by Sam Harris
Bullying Story
Spencer Sherman shared a meaningful story about how mindfulness can make a big difference, even in challenging situations. He mentioned two important nonprofit organizations he's involved with, both dedicated to improving school environments. One of them, called Mindful Schools, shared a powerful story about a boy dealing with aggression.
During recess, this boy felt the urge to punch another kid. But instead of acting on that anger, he took a moment to breathe and simply observe his emotions. This act of mindfulness allowed him to acknowledge his negative feelings without letting them control his actions. It's a key aspect of mindfulness: recognizing harmful emotions but choosing not to be controlled by them.
Spencer believes this mindfulness lesson applies to money matters as well. For instance, when you desperately want to buy something like a house, taking a pause and considering your emotions before making a big decision can be wise. Mindful Schools teaches kids to become aware of unhealthy emotions and not let these emotions guide their actions, a valuable skill that can truly change the game.
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