Money Rehab with Nicole Lapin - Beyoncé is a Loser. And So Are We.

Episode Date: April 1, 2022

Money Rehab was nominated for an Ambie Award… and lost. Nicole talks through how to deal with disappointments at work, and how to be a good loser. See omnystudio.com/listener for privacy information.

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Well, it doesn't. Charge for wasting our time. I will take a check. Like an old school check. You recognize her from anchoring on CNN, CNBC, and Bloomberg. The only financial expert you don't need a dictionary to understand. The cold lappin'. A little over a week ago, Money Rehab was nominated for an award and lost.

If you follow the show on Instagram, and you should, by the way, at Money Rehab Show, you may have seen that the show was nominated for an Ambie. Ambies are the awards given out to podcasts by the Podcast Academy. It's a pretty new organization, but it has a really strong reputation in the industry. The Ambies have all the categories you'd imagine, like Best Comedy Podcast, Best True Crime Podcast, all the best best, including Best Business and Finance Podcast, which is what Money Rehab was nominated for. Anyone can submit their show for an Ambie. And then a blue ribbon panel of industry folk vote on who should actually make it to the next round and officially become

a nominee for the award. And then that same panel chooses the winner. There's an awards show, which was actually in person this year. So I went alongside our amazing producer, Morgan Lavoie. We sat in the third row next to the aisle, which they tell you to do so that you can get to the stage easily if they call you up to accept the award. But I wasn't called up. I'm not going to lie to you and say it doesn't suck, because it does. Whenever someone loses an award, they give some version of the same spiel. Something like, it's an honor just to be nominated alongside my peers. Now, I don't think that's BS. It does feel really gratifying to see your show's name along other shows you love and respect. to see your show's name along other shows you love and respect.

But what's a little harder to admit, and so fewer people do, is that it's disappointing to lose. Period. Whether it's the Ambies, the presidency, or a bet you made with your best friend. Losing is not fun. Being at the Ambies and then watching the Oscars on Sunday has really got me thinking about the nature of competition in the workplace. Even if your industry isn't part of this whole award show rigmarole, you probably have some sort of competition in your work life. Maybe you work

in a sales gig and you get a bonus for being the number one salesperson on your team. Maybe you own a restaurant and you're competing with other restaurants in your area to be the number one salesperson on your team. Maybe you own a restaurant and you're competing with other restaurants in your area to be the number one restaurant on TripAdvisor. Maybe you're an athlete and every time you show up to work, you're told you need to be the winner. Maybe you're up for a promotion and you need to be the most productive person on your team. I think the most harmful part about this culture is that if you're not first, you're last. You may remember Nathan Chen winning gold at the Winter Olympics. Do you remember who won silver? You may have seen that Jessica Chastain won an Oscar for Best Actress. Can you remember any of the other nominees? It's not just the Oscars or the Ambys. In all of these shows, the Tonys, the Grammys, all of them, as soon as the winner

is declared, all of the other nominees are all of a sudden losers. The headline is, Don't Look Up Loses Dakota. The whole experience really got me thinking. There are these two different perspectives. There are these situations where we feel like we have to out compete our peers, but there's also a movement in popular culture telling us to be motivated by our own goals individually. You've heard this, right? This stems from the same school of thought as the idea that you shouldn't compare yourself to others and that self-care makes you more productive at work. So which one of these two perspectives is right? To some extent, I think they both are.

I think competition can be good. In the business world, huge companies competing with each other is the force that, well, forces those companies to give us, the customers, fair prices and innovative products. At the same time, it's also most important and usually most healthy to think of yourself in a league of your own. But the more I think about it, I actually don't think that your self-worth should be the only thing motivating you at work. I know that's not a popular opinion right now, and it may seem surprising coming from me, opinion right now, and it may seem surprising coming from me, Miss Independent herself,

but my own hopes and dreams aren't enough to keep me going, especially not for the work I do. I'm on a mission to spread financial literacy. I want to prevent people from making the same mistakes I made with money. So I don't put out money rehab or my books or my blog with Facebook for me. I do it for you. So I think when it comes down to it, the metric of your success is whether or not you feel like you're serving the purpose you set out to serve. And when I think about it that way, the awards don't matter. It doesn't matter that I lost the Emmy because I don't make this show for that blue ribbon panel of media folks to pat me on the back. I make this show for you. And as long as you're

finding what I'm saying helpful, nothing else matters. Beyonce was up for an Oscar on Sunday and lost. But is she still making the absolutely hottest music and being an absolute icon? That's an easy yes. So if Beyonce is a loser, then I'm happy to be one too. For today's tip, you can take straight to the bank. Well, no tip today. Just a thank you. Thank you for making me feel like a winner every day. Thank you. Thank you for making me feel like a winner every day. Money Rehab is a production of iHeartRadio. I'm your host, Nicole Lappin. Our producers are Morgan Lavoie and Mike Coscarelli. Executive producers are Nikki Etor and Will Pearson. Our mascots are Penny and Mimsy. Huge thanks to OG Money Rehab team, Michelle Lanz for her development work,

Catherine Law for her production and writing magic, and Brandon Dickert for his editing, engineering, and sound design. And as always, thanks to you for finally investing in yourself so that you can get it together and get it all.