Latest / Cash Confident with Brie Sodano / Using Money for Lifestyle Creation

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Using Money for Lifestyle Creation · Cash Confident with Brie Sodano

• 0:01
  Speaker 1: Welcome to the Cash Confident podcast.
• 0:03
  Speaker 1: I'm Brie Sedano, your fearless host, personal finance expert and the visionary behind the revolutionary Cash Confident community.
• 0:10
  Speaker 1: Get ready to embark on an electrifying journey where we redefine the rules of money and empower women to harness the immense power to craft a life they truly, truly desire.
• 0:22
  Speaker 1: This podcast is the ultimate resource, meticulously crafted, for women who are ready to unleash their financial prowess and embrace a life of abundant success.
• 0:32
  Speaker 1: We leave no stone unturned as we delve into the depths of money management, mindset mastery and the undeniable influence of emotions on your financial decisions.
• 0:43
  Speaker 1: Prepare to rise above the societal limitations and break free from the chains that have held you back, as we equip you with the tools and knowledge to make bold, confident choices with your cash.
• 0:55
  Speaker 1: We believe that true financial power begins with knowledge, and that is exactly what we deliver.
• 1:02
  Speaker 1: So buckle up, my fierce and ambitious friends, as we embark on this transformative journey to becoming Cash Confident together.
• 1:10
  Speaker 1: Oh, hello, hello.
• 1:18
  Speaker 1: Today we are here on the Cash Confident podcast to talk about using Cash Flow for lifestyle creation and using your cash creatively.
• 1:27
  Speaker 1: And it's a great time to be talking about this because, as we are coming into the new year, this is the place where everybody's setting their new year's goals.
• 1:38
  Speaker 1: And oftentimes I will tell you that when I'm looking at people's money goals, they are sad and dry and brittle and boring and they're not really using their money to build the life that they want.
• 1:51
  Speaker 1: And when we do that, when we don't actually want the thing that we want but it feels like a should do or a must do or a would be nice if what ends up happening is, when it comes time to make the decisions in the moment, like, should I put this money toward this thing that I actually don't want, or should I go out for Margaritas with my friends?
• 2:10
  Speaker 1: It is quesadilla night, margarita night and we don't actually get our goals done.
• 2:16
  Speaker 1: And where this becomes a massive problem is that we erode our money and we erode our sense of trust with ourselves, with money.
• 2:23
  Speaker 1: And if every single episode I say to you something to the effect of the level to which you trust yourself with money is really important, I just want to reiterate that for you, like so much of what I'm teaching to you in these podcasts and in my programs, and what I offer that I think is so important, is that it builds trust between yourself, with yourself and with your relationship with money, and that's really, really important, because when we don't trust ourselves with money, we like just do things to get rid of it.
• 2:53
  Speaker 1: So I just want to give you some ideas here just to start to think about, and as New Year's comes, I'll do a goal setting episode, also like how to set financial goals, but this I just want to give this to you to just open up your mind a little bit and to help you just kind of ponder about things a little bit differently, right, and so I'm going to tell you a couple of stories, all right.
• 3:19
  Speaker 1: So when I, back in the day, when I was a stockbroker right, when I was selling stocks and bonds, I was doing a lot of work with people on student loans, right, and I want to tell you that I worked with two different people who had about they were about the same age, they had about the same amount of student loans, right, and one of these people wanted to buy a house real bad, that was.
• 3:41
  Speaker 1: That was a goal.
• 3:42
  Speaker 1: She wanted to buy a house, and that was the thing that she was working on.
• 3:47
  Speaker 1: The other person has sent him on a student loans and he had a goal that he wanted to travel.
• 3:53
  Speaker 1: He did not want to buy a house, right.
• 3:56
  Speaker 1: And so both of these people had student loans that were in the thousand, you know more than a thousand dollars worth of payment, right?
• 4:03
  Speaker 1: And so the young lady we put a plan together for her so she could not qualify for a mortgage for a one family.
• 4:11
  Speaker 1: We ran the numbers many different ways, and this was also when interest rates were like 3%.
• 4:16
  Speaker 1: But it was her payment was so big that it tied up so much of her cash flow that she couldn't qualify for one family house in any sort of price range.
• 4:24
  Speaker 1: We looked from the bottom, you know, upwards.
• 4:26
  Speaker 1: It wouldn't work.
• 4:27
  Speaker 1: So we started looking at well, would you be open to a three family house?
• 4:33
  Speaker 1: And she was, and we ran the numbers for that and that could work because basically, two of the units would pay the mortgage and then her unit that she would live in would be.
• 4:46
  Speaker 1: It wasn't free, but it was almost free, right, so it'd be a really low cost.
• 4:50
  Speaker 1: So she could end up paying her student loans and be able to pay her mortgage if she had tenants, right.
• 4:57
  Speaker 1: And that was the plan that we put together.
• 5:00
  Speaker 1: That was the plan that we put together for her.
• 5:02
  Speaker 1: So we used our creative thinking to get her what she wanted right, which was a house.
• 5:09
  Speaker 1: So she had these big obligations, these big obstacles, these big student loan payments, but she was still able to get what she wanted.
• 5:17
  Speaker 1: Now the young man I was like, all right.
• 5:22
  Speaker 1: So after he paid her student loans, he didn't have a ton of money because and at the time he was, he was young, he was still living at home, like with his parents, but he wanted to get out of there, he wanted to travel, he wanted to go see the world and he was a nurse.
• 5:36
  Speaker 1: And so he I was like, hey, well, I've heard about traveling nurse programs, why don't you look into one of those?
• 5:42
  Speaker 1: And so he ended up being able to become a traveling nurse, and so his income really went up.
• 5:48
  Speaker 1: The traveling nurses I'm not sure that this will be true forever.
• 5:52
  Speaker 1: There's some, some laws changing, but many years ago, when I was doing this work, traveling nurses made pretty substantially more than a right like a nurse that was at her, her, his home hospital.
• 6:04
  Speaker 1: And so he also got to travel.
• 6:09
  Speaker 1: He got to go live someplace.
• 6:10
  Speaker 1: And so he, he, what did?
• 6:13
  Speaker 1: He?
• 6:13
  Speaker 1: Sent me a couple of messages.
• 6:14
  Speaker 1: He was like somewhere in Seattle, somewhere in Hawaii, and he got to do the thing that he wanted.
• 6:21
  Speaker 1: And so, listen, in both of those circumstances we could have looked at the lack of money or these, these student loans, as the obstacle, and we could have put together a plan to hurry up and pay off the student loans before we did anything else.
• 6:33
  Speaker 1: That was an available choice.
• 6:35
  Speaker 1: We could have done that, right.
• 6:37
  Speaker 1: We could have said, all right, well, well, young lady, live at home with your parents and pay off your student loans for the next 10 years, you know, directing all of your cash flow toward this, but you'll just have to live at home with your parents.
• 6:48
  Speaker 1: And she did not want to do that.
• 6:49
  Speaker 1: She wanted, you know, she was in her 20s, she wanted to get out of there, she wanted to be building equity, she wanted her own space.
• 6:55
  Speaker 1: Yeah, she wanted to, like you know, do the booty in her house without her mom and dad in other rooms.
• 7:02
  Speaker 1: You know things like that.
• 7:03
  Speaker 1: And so we just put together a plan for her to be able To get what she wanted and pay off her student loans.
• 7:12
  Speaker 1: And the other fella he wanted to travel.
• 7:14
  Speaker 1: And if we looked at his cash flow, where he was staying at home but paying on his student loans.
• 7:19
  Speaker 1: I mean, he probably could have afforded some vacations, but even then he needed to work quite a bit of overtime at the hospital that he was at to be able to To pay on those student loan payments.
• 7:28
  Speaker 1: He had a you know before figure student loan payment, and so we we were able to figure out a way for him to get what he wanted, and he still made enough money to pay on his student loans.
• 7:38
  Speaker 1: And I lost touch with him after he sent me the note from Hawaii.
• 7:42
  Speaker 1: But you know he was paying on those student loans where they would be paid off in ten years.
• 7:47
  Speaker 1: So you know, after a couple years of that, you know then you can.
• 7:51
  Speaker 1: You can adjust and make moves.
• 7:53
  Speaker 1: And so, listen, the reason that I'm telling you these stories is because oftentimes we get so in our heads about money, we forget what we're actually wanting.
• 8:03
  Speaker 1: We're forgetting what we actually want to create the life that we actually want to have, and so I Wanted to teach you I have three little steps in my notes today about how to start to think about your cash and your cash flow creatively, and I'm gonna teach them to all right.
• 8:19
  Speaker 1: So the first thing is is to know what you want right, and when I think this is important is To know the truth of what you want.
• 8:28
  Speaker 1: And I want to differentiate the difference between, like, a financial goal and something that you want to create in your lifestyle, and versus something that you want to habitually take on or something that you want to systemize Right.
• 8:40
  Speaker 1: So sometimes people will say things to me like, oh, I want to save for retirement and I'm like, cool, that goal will take you 40 years.
• 8:47
  Speaker 1: So, like, let's just get started with it.
• 8:49
  Speaker 1: Let's just go ahead and set up that direct deposit.
• 8:53
  Speaker 1: All right, let's open that account, set up that a CH, you know, build that that little system into your money management life.
• 9:00
  Speaker 1: You know situation where then that's just done right.
• 9:05
  Speaker 1: And those are the sort of things that we're that it when we want to start saving more or we want to start doing things like that.
• 9:13
  Speaker 1: The thing is is you just have to start doing them.
• 9:15
  Speaker 1: You're never listen to me, listen to me You're never just going to have the kind of money that is for retirement.
• 9:23
  Speaker 1: Just show up in your bank account.
• 9:24
  Speaker 1: I mean, that's not, probably not true.
• 9:25
  Speaker 1: I'm sure that will happen for some people and you know I'm open to receiving that kind of money in my bank accounts, but we don't want to count on that, like those things are habitual.
• 9:34
  Speaker 1: So we want to start to think about our money habits different than like our lifestyle upgrades and our lifestyle creations, right?
• 9:41
  Speaker 1: So, because the idea was somebody says to me, oh, I'll do that when I have some extra money, I'm like I've talked with a lot of people, a lot of people, about their money, and the amount of times that I hear somebody say I have extra money, it's pretty rare, pretty few and far between.
• 9:58
  Speaker 1: So I want you to figure out what it is you really want from your life.
• 10:02
  Speaker 1: Like, what are you really wanting your money to create?
• 10:05
  Speaker 1: Is it a house, is it a kitchen upgrade, is it a Travel or, you know, new wardrobe?
• 10:11
  Speaker 1: Like what are you really wanting?
• 10:13
  Speaker 1: Right?
• 10:14
  Speaker 1: Like what are you really wanting to buy?
• 10:16
  Speaker 1: What are you really wanting to trade this money in for?
• 10:18
  Speaker 1: And we want to start to think about that and get clear on that, because that's the start point.
• 10:25
  Speaker 1: That's the start point is knowing what you want, and sometimes you have to know what you don't want.
• 10:29
  Speaker 1: To even figure out what you what you do want.
• 10:30
  Speaker 1: Sometimes you have to be like, hmm, I don't want this anymore, and then from there you can start to think about the things that you do want, and knowing what you want Helps you.
• 10:39
  Speaker 1: When you just really admit it to yourself, there's something that happens where your mind opens up to the possibilities of how to get it, and that's that actually brings us to our next step is so to really make the decision that you're going to get this thing, that you're going to buy this thing, that you're going to make this happen.
• 10:53
  Speaker 1: And the reason that this is so important Is because there's this part of our brain called our reticular activating system that does most of the filtering, that filters our reality for us.
• 11:04
  Speaker 1: And so when we don't make a decision about what we want, we don't see the opportunities for it.
• 11:09
  Speaker 1: We miss, you know, we miss the opportunities, we miss the, the things that we would see that would bring that, bring us one step closer.
• 11:17
  Speaker 1: We miss the connections, we miss the people, we miss it because we're just not programmed for it.
• 11:21
  Speaker 1: But when you make the decision, you tell your reticular activating system like this is important to me, this is the thing that that I'm calling into my Existence.
• 11:29
  Speaker 1: This is the thing that I'm calling into my life, and so help me be ready for it.
• 11:33
  Speaker 1: And so it will start to see the opportunities, it will start to Meet the right people, it will start to call that in, because everything that you already, everything that you want, is already available in this world, like it's already available to you, but you have to become the person who's ready to like receive it right.
• 11:50
  Speaker 1: And so that means programming that reticular activating system, which does require a decision.
• 11:54
  Speaker 1: And for me, sometimes I will have a challenge with Making the decisions when I can't really see how it would happen.
• 12:02
  Speaker 1: It freaks me out a little bit and I'm not the only one, because I've talked to lots of people about this but when you can make the decision, then you start seeing all of all of how it would happen.
• 12:12
  Speaker 1: But before you make the decision, the how is very elusive.
• 12:15
  Speaker 1: It's, you know, a lot of times you can't see how from before you make the decision.
• 12:20
  Speaker 1: It's just not how it goes Right.
• 12:22
  Speaker 1: So you make the decision, and then the third step is you work your finances and you ask yourself how can I do this?
• 12:29
  Speaker 1: What are some ways, what are the ways that I could figure this out and you just start making a list of how to make the money plans right, how to make it happen, and I will tell you that there's.
• 12:41
  Speaker 1: There's the situation that happens when people make a decision and it sounds maybe like a little woo-woo nonsense, but I've seen this happen for so many people that I'm gonna share it with you, right, and so I Can't even tell you how many people Decide that they want something and then they make the decision that they want it and then we go ahead and we put a financial plan in place and that financial plan might be a long plan, it might be working with what they're currently working with, and we say, all right, well, if you want, I'll tell you.
• 13:12
  Speaker 1: I'll tell you a quick story.
• 13:13
  Speaker 1: So I had a client who wanted to buy a house.
• 13:14
  Speaker 1: This is different from the first client.
• 13:16
  Speaker 1: She wanted to buy a house and there were some obstacles.
• 13:19
  Speaker 1: She had some credit issues to work on.
• 13:20
  Speaker 1: She had some cash flow issues to work on.
• 13:22
  Speaker 1: She needed to pay off some debt she needed there was there was quite quite some some financial obstacles in the way, but she really decided she wanted.
• 13:32
  Speaker 1: It was super important to her.
• 13:33
  Speaker 1: So she made the decision.
• 13:35
  Speaker 1: So we worked it out.
• 13:36
  Speaker 1: So she worked on her credit right.
• 13:38
  Speaker 1: So we worked on.
• 13:39
  Speaker 1: She worked on paying off all the old things, getting her credit cleaned up, and then she started working on Adjusting her systems and she started saving money for the first time ever.
• 13:49
  Speaker 1: And then she got a raise a pretty substantial Race, like a very substantial race.
• 13:54
  Speaker 1: And then her spouse got a little raise.
• 13:56
  Speaker 1: And so then the plan that we put together, that was a four-year plan.
• 14:00
  Speaker 1: They had that house within maybe like 18 months.
• 14:03
  Speaker 1: It was a little bit more than a year, but it was.
• 14:05
  Speaker 1: It was way less than two years.
• 14:08
  Speaker 1: And that's the power making the decision.
• 14:10
  Speaker 1: And if I could tell you how many times somebody makes the decision that something's gonna happen.
• 14:15
  Speaker 1: They're like making the decision that they're gonna take their kids on a trip, or they're making the decision.
• 14:19
  Speaker 1: Once that decision is made, the universe really starts to open up.
• 14:23
  Speaker 1: You know, you start to find plane tickets super cheap, you start to get a great deal on a hotel room, somebody offers you a time share.
• 14:29
  Speaker 1: You know there's all sorts of ways that we can get what we want besides just besides just only paying for it, even though, like you know, some things will just, we'll just pay for.
• 14:38
  Speaker 1: And so when we're working the finances, the thing that's most important is that we want to always be using our finances toward the goal, toward the lifestyle that we're creating.
• 14:49
  Speaker 1: And this is a Different mindset than a lot of people have, because I will talk to many, many people and and I'll say, all right, well, if I had a magic wand and I could give you anything that you wanted.
• 15:03
  Speaker 1: What do you want?
• 15:06
  Speaker 1: What do you want from you know, what do you?
• 15:08
  Speaker 1: What do you want your life to be like?
• 15:09
  Speaker 1: What do you want from your money that you don't already have?
• 15:11
  Speaker 1: And they'll be like oh well, I want whatever's best for the money.
• 15:15
  Speaker 1: I'm like whatever's best for the money.
• 15:17
  Speaker 1: And when you really think about that, I'll just put it into a different way.
• 15:22
  Speaker 1: Can you imagine if I was in the kitchen and I said to you well, how do I cook the thing?
• 15:29
  Speaker 1: You would probably be like well, what are you cooking?
• 15:32
  Speaker 1: And I said, well, I'm going to cook whatever's best for my kitchen knives.
• 15:36
  Speaker 1: I'd be like what?
• 15:39
  Speaker 1: That doesn't make any sense.
• 15:41
  Speaker 1: And this is the way that I see when people say that to me about money, when they're like I want to do whatever's best for the money.
• 15:47
  Speaker 1: I'm like money is the tool, then money is the tool, and we don't want to be disrespectful, like we don't want to try to get our money to do.
• 15:55
  Speaker 1: We don't want to try to buy something that costs $500 and go in there with $5.
• 16:00
  Speaker 1: That's not going to work.
• 16:01
  Speaker 1: Or we don't want to take our luxury vehicle off-roading we don't want to do that.
• 16:06
  Speaker 1: Or we don't want to use our kitchen knives to cut down a Christmas tree.
• 16:09
  Speaker 1: But at the end of the day, we have to remember that money is the tool, that the life is the creation, and that we're going to use our time, our energy, our expertise to be able to get this money, to be able to create the life that we want with it.
• 16:27
  Speaker 1: And that is the thing that I just want you to remember as you're starting to set your goals.
• 16:32
  Speaker 1: And also, there are systems and habits for our money that help us to build stability and financial strength.
• 16:38
  Speaker 1: It's like systematically saving for your investments, saving for retirement or investing.
• 16:43
  Speaker 1: You know what I mean.
• 16:45
  Speaker 1: Making sure that we have a buffer in our accounts to pay our bills.
• 16:48
  Speaker 1: Make sure that we're prepared for the expenses that we can definitely see coming, make sure that we have money to have in our pocket.
• 16:55
  Speaker 1: But setting up those three savings habits is not really a goal, because it is, but it's like is brushing your teeth a goal?
• 17:04
  Speaker 1: No, it's just the thing that you do every single day.
• 17:07
  Speaker 1: And what's the goal behind it?
• 17:10
  Speaker 1: I mean, I guess it's long term oral health, but really it's just the thing that you do every day and I want to impress that upon you.
• 17:20
  Speaker 1: Is that good financial habits?
• 17:21
  Speaker 1: You want to get to a place where you automate them, and if you need help with this, I have a course called the Invisible System that teaches you how to use technology to really support your good financial habits.
• 17:34
  Speaker 1: But where I'm going with this is saving for retirement is just the thing that you're going to do until you retire.
• 17:42
  Speaker 1: So just get started with it and then use your creative juice for the other things.
• 17:51
  Speaker 1: And that's a really, because it's fun to get what you want.
• 17:58
  Speaker 1: It's fun to create the life that you want and you start to feel a different.
• 18:02
  Speaker 1: You start to feel more power over your finances when you make the decision and then you make it happen, and when we can't make the decision because we're so afraid, it's just such a powerless place and it doesn't feel good to be there.
• 18:16
  Speaker 1: So, anyways, I encourage you, I invite you even maybe even a little gentle challenge.
• 18:20
  Speaker 1: I encourage you to figure out what you want next year, what you want in 2024.
• 18:24
  Speaker 1: And then make the decisions to get there.
• 18:26
  Speaker 1: And then work your finances, work a plan and, even if the plan seems like it's going to take forever, just get started and then let life delight you, just let it happen, just let things go faster than your plan accounted for.
• 18:44
  Speaker 1: All right, I love you, I appreciate you, thank you, and please feel free to share this episode, or any of my episodes really, with a friend, or with a relative or a co-worker or somebody, somebody that you love very much.
• 19:01
  Speaker 1: All right, bye, everybody.
• 19:07
  Speaker 1: It was my pleasure and joy to talk with you today.
• 19:10
  Speaker 1: Thank you for listening.
• 19:11
  Speaker 1: If you found value in our conversation, I kindly ask you to share the show with a friend who deserves to unleash her financial power.
• 19:18
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• 19:23
  Speaker 1: Together.
• 19:23
  Speaker 1: We can amplify the message and bring more money into the hands of good women For ongoing guidance and unwavering support on your financial journey.
• 19:32
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• 19:34
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• 19:38
  Speaker 1: Join to become part of our powerful community of women, where we uplift and inspire one another to reach new heights of financial success.
• 19:48
  Speaker 1: Remember, you possess the power to shape your financial destiny and, with the Cash Confident podcast and the support of our remarkable community, you are unstoppable.
• 19:57
  Speaker 1: Embrace your financial power, create the life you desire and let's ignite a movement of Cash Confident women who are transforming the world, one dollar, one decision at a time.