Latest / The Thriving School Podcast with Jenni Awesome / Financial Literacy Starts at Home with Kenny Ingersoll
Transcript
- Jenni Awesome: All right, and thank you for tuning in to the Jennifer Awesome Podcast. We explore the ideas, people, and experiences helping students graduate with competence, confidence, and purpose, not just a diploma. Today I'm excited to welcome Kenny Ingersoll to the show. While Kenny doesn't come from the traditional education system, which I think is a benefit in my opinion. He is an educator in one of the most important areas of life that many schools still don't spend enough time teaching: financial literacy. Kenny helps people build a healthier relationship with money, develop a stronger money mindset, and dream bigger about what's possible for their future. As a coach, financial educator, and parent, he brings a unique perspective on preparing young people for success beyond the classroom. Please welcome Kenny to the Jenny Awesome podcast. How are you doing today, Kenny? Kenny Ingersoll: I'm doing good, Jennifer. Thank you for having me on here. Jenni Awesome: Yeah, so tell us a bit about yourself. Kenny Ingersoll: So yeah, married, have two kids and a couple dogs, and so life is life is full of adventure there, but I went through the the traditional education system, graduated with a diploma, all that stuff, and then years later I I got into the financial education space, which I never saw myself in, so that's a whole nother story. But Jenni Awesome: Yeah. Kenny Ingersoll: the more I learned the more I understood what I didn't know and what was lacking out there, you know, and the more I wanted to to help others hopefully learn from, kind of along the lines of if I'd only known then what I know now, I'd try Jenni Awesome: Mm-hmm. Kenny Ingersoll: to help people mitigate some of that and eliminate some of that in their journeys. Jenni Awesome: So you you mentioned that you didn't see yourself in the financial literacy area. And I can say the fact that I became a middle school math teacher, I didn't see myself being a math teacher ever. However, like it was the best thing to happen in my life. So tell us a bit about that. Why why did you not see yourself in this area? Kenny Ingersoll: So I knew I'd always wanted to be an entrepreneur, have a business. my parents were so I had bit I've been bitten by that bug early on and I've tried different things. I never fit inside the mold. I've tried different things. It it worked, but it didn't quite fulfill. You know, even some areas I I love R Ving, I love traveling and stuff, and so I owned an R V salvade as one of them. And It was great. I loved it. But it wasn't fulfilling where I how I thought it would or should, you know, I expected it to, but and then a family member introduced me to the finance industry. I'm like, no, that's not for me. But then as I dove into it and I got into it, it clicked in a way that I I never thought possible and it brought new opportunities for growth for myself and then as well as opportunities to to help others and it just fulfilled everything and fit everything. You know, I still love the R Ving, I still love these things, but not as a business. It didn't quite fit right in that puzzle. Jenni Awesome: Mm-hmm. So it sounds like you you were kind of following some of your passions at the time and and you took this risk on something that someone recommended to you. Like what was that like taking that risk? Kenny Ingersoll: it was eye opening, you know, 'cause it something I'd never even thought about venturing down before, you know, never even considered it as a a business, as an occupation. You know, I'd I was intrigued with learning about finances just on a personal level, and you know, that's kinda cool, that's neat to know. But Jenni Awesome: Mm-hmm. Kenny Ingersoll: beyond that, it never dawned on me to pursue it further. Until I got into it. And then it's it's like you hear horror stories of a food, escargot, it snails, ew, disgusting. And then when you try it, or use whatever example you want, of course, but when you try it, you're like, Why didn't I try this twenty years ago? kind of thing. You know, you you'd never thought you'd you'd like it or just the sound of it didn't feel right or sound right or click or whatever, but when you tasted it, when you had that first bite, you're like, There's something different about this. So you have another bite, and then you have another bite, I'm like, I love this, this is my new favorite sort of thing, so Jenni Awesome: So what do you what do you do in finances? What what for people that don't know that that's even a a possibility, can you explain to us a little bit about what you do and how you you know how how that taste changed as as you learned more about it? Kenny Ingersoll: So yeah, so a quick explanation of what I do in the finance industry is helping people with like their budgeting and savings and preparing for retirement and even through retirement and things like that. But we focus on educating and making people aware. A lot of people are only aware of I'm an analogy guy, so I use a lot of analogies. They're only aware of the Jenni Awesome: they're good. Good. Kenny Ingersoll: hammer and the screwdriver in the toolbox. They don't even know that the toolbox exists and all the other Jenni Awesome: yeah. Kenny Ingersoll: tools that that are out there and that they have access to at their fingertips. You know, so we we broaden their horizon, so to speak. You have all these other tools that are available. You know, some tools are better for this job than other tools and stuff. So we make them aware of what they have access to, then educate them on how they work so they know if that That's the right tool for the job. Because it's not a one size fits all out there. Jenni Awesome: Mm-hmm. Kenny Ingersoll: And then to go along with that, I also educate on money mindset. You know, what's your relationship with money? What's your background with money? You know, not I have a business degree in finance or bookkeeping or whatever. You know, it's this is how I was raised, these are my beliefs around money since I was born, basically, you know. So what's your background your personal historical background with money and your thoughts on money and how you respond to money and why. So I dive into that with a lot of people because they c they can grab grasp the concepts, but if they don't understand their relationship and why those concepts aren't working for them, it doesn't work either. Jenni Awesome: Mm-hmm. I I heard someone talking yesterday about money. So I'm I'm in a leadership group and and we're actually working to raise seventy-five thousand dollars for the Tim Tebow Foundation to support the end of child exploitation and human trafficking. So we were having a conversation and someone had mentioned that, you know, you may think that you want to make like thirty, forty thousand dollars a year more than you actually do. However If you don't change your relationship with the way that you feel towards the money, it's not gonna actually make a difference in the way you feel. Like you may still have that scarcity mindset, even though you've hit your goal and you're you're making more. So I'm I'm hearing you say that you did you recognize that you were gonna spend time talking about like our how we relate to money when you first got into it, or was that kind of an aha as you learned more and more? Kenny Ingersoll: It was more of an aha as I learned more and more 'cause Jenni Awesome: Mm. Kenny Ingersoll: I would grasp the concepts and that would help me you know move to the the next step, but it didn't quite get me over the hump, so to speak, of of why some of those concepts weren't working, you know, Jenni Awesome: Mm-hmm. Kenny Ingersoll: f for me. You know, if I p put this and this together it should equal this and it works for these people, but for some reason it's not working for me, some reason it's not working for them, what's going on? And so that's that's when when I dove into it more and then also going along with the study of the mind, I did a lot of study of Bob Proctor and the the conscious and subconscious mind and paradigm and stuff. So those two correlated and went hand in hand for me and was like, if you're if I learn this over here, it applies over here, then I can learn this over here and apply it over here and so it was kind of a ongoing aha moment ever since. Jenni Awesome: So if I like if if I'm listening to this podcast right now and I'm just starting to have that what? Money is relational, like there's something to the way that I relate and there's un I have unconscious thoughts about money. Like, what are some things that you could guide our listenings through just as some of that wow, this this is really true, the having that aha moment right now? Kenny Ingersoll: Yeah, the just a simple self analysis, you know, if you see a price tag on something, what's your thirst first response? You know, if you have a wanna buy a new truck and you Jenni Awesome: Mm-hmm. Kenny Ingersoll: see the price tag, what's your first response? Is it my gosh or is it, Okay, I'll figure it out, it's gonna happen You know? and then specifically to the relationship side, it could be used Or related to compared to, if you will, people relationship. You know, what's your relationship like with your mom versus the delivery driver that brought your package that you ordered off off on the internet, whatever, you Jenni Awesome: Mm. Kenny Ingersoll: know, versus a person at the checkout stand. You know, how are those relationships different? You can compare that and use that similarly with money, you know. How How do you treat money in in this atmosphere or in this atmosphere? Because if you're, for example, if you're paying bills or going to get gas for your car, my gosh, that's so expensive. Why is gas prices so high or whatever? You know, gas is let's call it four bucks a gallon, just to throw a number at it. But Jenni Awesome: Mm. Kenny Ingersoll: when you're on vacation or on a cruise, that drink is only eight dollars. Okay, no big deal. you know, your atmosphere Jenni Awesome: Yeah. Kenny Ingersoll: can change your money and how you're thinking and the environment you're in and all those sorts of things and and the value you perceive out of that thing or the enjoyment. you know, you enjoy that drink, so to you it might be worth the eight bucks. Whereas getting gallon gas, you see it as just an expense per se. So there's a lot of ways you can relate that to yourself, but Jenni Awesome: It's like that made me think about the few times where I've gotten like a coffee or something and it was just awful. Like how much I I didn't enjoy it. And so I I put that story on there of, man, this coffee really wasn't worth it. And I think that's what I hear you saying is that, you know, if you have that negative experience with it, you end up relating it back to your relationship with the money too. Kenny Ingersoll: Yeah, exactly. You know, what is your perceived value or enjoyment out of it? Jenni Awesome: So this has got me thinking of because I know you said you have kids and I'm I'm thinking of so what things did I grow up hearing about money, like what did my parents model, what did my grandparents model? And then I think about, well, I spent what, eight hours a day with my teachers and they never talked about money either. Like money wasn't something that ever came up. So i if we were to look at, you know, kids, What are some of the things that we could do as adults around children to help them have that better relationship with money from a young age? Kenny Ingersoll: Just being open about it, you know, where appropriate like my my kids are involved with a lot of the conversations or they understand some of the details. You know they don't understand every single detail and all the backstory and how all the back end stuff works or whatever, but they're part of some of the conversations and and they go shopping with us so they can see okay You want this, this, and this, this is what it is, and you know, so they can experience that. And then we we try to have open conversations about things that are part of the planning, whether that's vacation planning or schedules for the week or whatever. You know, so okay, we need to for this activity or to go to this place, we need this, this, and this, and this is what it's gonna cost. So is that what you want to do? Blah, blah, blah. So just being open about it. Jenni Awesome: Mm. Kenny Ingersoll: and then having them feel comfortable about it and then giving them opportunities to when appropriate earn money and spend money on things. Okay. So they they understand how how money works and where it comes from and how to be disciplined and set aside for what you want or you know, okay, yeah, even starting a small budget for themselves. Jenni Awesome: that's cool. How old are your kids? Kenny Ingersoll: So I've got a thirteen year old and a six month old, so sh the six month old Jenni Awesome: No. Kenny Ingersoll: isn't part of the conversation yet, but the thirteen year old is. Jenni Awesome: Excellent. So thirteen year old middle schooler probably starting to get more into like, you know, school dances, way they look, going to activities. So you said they're starting to budget. Is that is are you having those conversations with them to start doing budgets Kenny Ingersoll: yeah. Jenni Awesome: at this age? Kenny Ingersoll: So we're not like a structured budget for him, we don't have that in place yet, but we have okay, this is what you've got in your account right now. You know, Jenni Awesome: Mm-hmm. Kenny Ingersoll: if you put it towards this, you'll have this much left, or if you want to save it and put it towards this. Or like for example, there's a an event he wants to go to, and so we talk about okay, it's gonna the tickets are this much, and we got hotel and travel, and you know, so you gotta start saving up for that and putting Towards that, you know, and if you want to s buy things there or Jenni Awesome: Yeah. Kenny Ingersoll: or even when we go on a cruise, we like to cruise a lot. Okay, if if you want some spending money, you know, mom and dad'll cover some of it. But if you want on top of that, you need to start setting that aside. So the budgeting principles is what we're working on right now. It doesn't have like a set budget per se, but just the principles and the concepts and the experience with the budgeting principles. Jenni Awesome: So you you mentioned that you've coached people through like writing a basic budget and you're doing this with your son. What what are some of the basics if someone's thinking about writing a budget for the first time? And I know some people have a negative connotation towards the word budget. I personally think it's freeing to be able to say, Hey, here's what my money's gonna do instead of it just doing what it does. Kenny Ingersoll: Yeah. We w one of the things we'd start with is what's our mindset about 'cause that's a good example. You know, if you hear budget and it's got a sour taste in your mouth, you're not gonna want to stick to it no matter how fancy or whatever it is. But if we can change that and make it positive and uplifting, and Jenni Awesome: Mm mm. Kenny Ingersoll: that's gonna help them want to stick on that budget even more. And then we decide well, they decide, not me. They decide what's important and what they want in that budget. And another thing is a lot of people think they can only have a certain amount of things in their budget, certain categories. You know, a lot of people they they think they can't have like vacations in their budget or spending money Jenni Awesome: Really? Kenny Ingersoll: or leisure money kind of thing. It has to be house, bills, car, clothes, food, you know, very, very basics. They Jenni Awesome: Mm. Kenny Ingersoll: they don't think outside of that can go in the budget sometimes, you know. Not everybody, but some of my my clients have have that. So opening that up, like you can put whatever you want in your budget. Your budget is so big though, so something's gotta give over here. So what's your priorities? And again, going back to that mindset and what their priorities are. Because if if your priority is over here and you're trying to work on a budget for this priority over here, it's not gonna happen. Jenni Awesome: Mm-hmm. So what do you think one of the the why do we it's and I may be overgeneralizing, but why do we as a society have such a negative belief around budgets and around money? Kenny Ingersoll: 'Cause negativity is so much more popular, I guess. You know, the it it sells more than positivity Jenni Awesome: Yeah, yeah. Kenny Ingersoll: and you know, we're we're drawn to it easier if we're not careful because we've been conditioned over hundreds of years. Great, Jenni Awesome: Mm-hmm. Kenny Ingersoll: great, great, great, great, great, great, great grandparents. You know, they got a little bit and then they added that to theirs and then They added that, then they added that. So over lots of time we've been conditioned to that. And so it's hard to get out of that that cycle. And then Jenni Awesome: Mm-hmm. Kenny Ingersoll: and like attracts like. So if you're you're looking for negative or you're talking about negative things, or you're talking to negative people or whatever, it's gonna attract more negative, you know, just like magnets. But if you start to reverse that into the positive side. it's going to start attracting positive. So long answer for your question of how we are around money and budgeting and stuff is just grandpa had a horrible experience one time way back in eighty five years ago and it's still affecting us today. Jenni Awesome: Yeah. Yeah, I can hear that. Like I don't so my grandfather, he owned a shoe store and I I knew that he owned a shoe store. He was fairly successful. But he never talked about money either. Like I I keep thinking about my family and and I don't know that anyone in my family has ever written a budget. I I wouldn't know because they don't talk about it. So To hear that you're talking to your son and it's a family thing, that you guys are sitting down doing this budget, and by making it a a family, you know, open conversation, that breaks through a lot of the I'm gonna call it intergenerational negativity that that we have as a society. Kenny Ingersoll: So yeah, it it only takes one person to to start that change. Jenni Awesome: So if someone was to want to sit down and look at a budget for the first time, like would you recommend that maybe they do some check I I'm gonna say check their attitude, make sure they're in a good mindset or if they like start to feel overwhelmed or negative, do you have suggestions for them to, you know, kinda break through, keep it positive and and power through? Before we continue today's episode, I want to take a moment to talk about a mission that has become incredibly important to me. Every child deserves to grow up feeling safe, protected, valued, and free. Unfortunately, children around the world are being exploited and trafficked every day. And I don't believe we can simply hear about it, feel terrible, and move on. We have a collective responsibility to do something, to act. That's why I'm raising funds to support the fight against child trafficking and child exploitation and the organizations working to identify vulnerable children, rescue victims, and help survivors rebuild their lives. And you can do something. You Can be a valuable part of this mission and this work as well. You don't have to have thousands of dollars and you don't have to be an expert. You simply have the opportunity to decide that protecting children matters. Donate, share the mission, start a conversation, pay attention, use your voice. Because when enough ordinary people Decide that protecting children is our responsibility, extraordinary change becomes possible. If you'd like to stand with me, visit community.org backslash fundraiser seven three seven one zero two six. Together we can turn awareness into action, hope into impact. And create a world where children are protected. Protecting children is everyone's responsibility and it starts with us. Kenny Ingersoll: Yeah, so just start with something simple. You know, you don't have to go buy any fancy software or anything, even just napkin and a pencil would work or a simple spreadsheet Jenni Awesome: Mm-hmm. Kenny Ingersoll: if you want or whatever. they got some thunder going on. Jenni Awesome: nice. Kenny Ingersoll: you know, and just maybe start with something simple. You know, maybe just three line items or whatever. Budget for this, this and this and then see how it goes and and what's their response. Yeah, ask them to do a self evaluation, if you will. Okay, when I think of budget and even write those questions down. What are my thoughts on budgets? Why do I want a budget? What's my goal with a budget? You know, just to start to do that self-evaluation. Then we can see where the underlying objection is towards a budget or why they haven't started a budget yet or why they don't want to stick to the budget. Finding those underlying things and start working on those and then we can work towards actually creating a budget that works for them that they'll be able to stick to and want to stick to. Jenni Awesome: Yeah. So you also mentioned that some people out there feel that they have to really limit what they put in their budget, that it's very like strict, I'm gonna cover my four walls and that's it. So what are some areas that you typically tell people, hey, you can add in that vacation, the spending money? You've already said a couple, but what are some areas that maybe people don't recognize or that can help bring in some of that? Let me dream for my future in my budget. Kenny Ingersoll: again depending on the mindset, just baby steps, okay. What about what's something you want? If you had a magic wand, you know, and that's something you wanted to do next week or you could I'd hand you a a ticket to anywhere for the weekend, you know, just to kinda get them dreaming again and okay, let's start putting that in the budget. You know, and then then that way that starts a process of Of dreaming, of thinking, of getting outside that box, if you will, Jenni Awesome: Mm-hmm. Kenny Ingersoll: and just exploring those opportunities and possibilities. Jenni Awesome: So earlier I wanna go back to you were talking about the hammer and the screwdriver and that some people don't even realize there's a toolbox. What are some of the tools that are out there that maybe people just aren't aware of? Like I knew I had a a savings account, a checking account, you could invest, but that that was kind of my my basic starting out of what I knew about. Kenny Ingersoll: Yeah. for example there's all sorts of different budgeting methods. You know, some people again use the spreadsheets. Jenni Awesome: what's the ten ten seventy? Kenny Ingersoll: So it's ten percent to a charity, ten percent to long term savings, ten percent to short term savings, and then seventy percent is your lifestyle. So you live on everything else. That includes vacations, mortgage, gas, all that stuff. That's just one of the many methods. You know, so just knowing that there's several methods of budgeting. Some people like the envelope method. That's where you put certain dollar amount in different envelopes. Okay, this envelope is for groceries, this envelope is for gas. And once that money's gone, it's gone. You know, Jenni Awesome: Mm. Kenny Ingersoll: so just understanding there's lots of different things. another example, and by no means is this advice or suggestions or anything like that, is a lot of people when they're at work, all they know about for retirement is 401k. Jenni Awesome: Mm-hmm. Kenny Ingersoll: Now Again, to make myself clear, 401ks are great. They have their place. There's nothing wrong with them. This is not to imply anything negative towards them. But there's many other options beyond the 401k if it's applicable for them. Because a 401k Jenni Awesome: Mm-hmm. Kenny Ingersoll: is not a one size fits all and neither all these other tools. So those are some examples of more things in the toolbox they have access to. Jenni Awesome: Yeah. So I I know one that was big for me way back when I first got out of high school. They talked about what a IRA was, that there was a Roth IRA. And I started learning like a little bit about some of the different like tax deferments, the coats or sweaters that you put around your money, things along those lines. And I know that was kind of an eye opener for me because it was more than just, Hey, you're putting it in savings and kinda the idea of ways you can actually put your money to work for you instead of just sitting there and savings. Kenny Ingersoll: Yep, exactly. So those are some great examples and then knowing how they work and if they're really doing what you're hoping them to do, 'cause unfortunately there's a lot of people that get to retirement with this tool and they thought it was doing XYZ, but it's really down here at A B C. And so Jenni Awesome: Yeah. Kenny Ingersoll: the retirement they're like, crap, now what? Jenni Awesome: Yeah. Yeah. So if you could envision for our our next generation coming up. So the let's talk about the high schoolers that just graduated or they're gonna graduate next year. What level of financial literacy would you dream that they would have? What would they know walking out of high school? What would what would that financial literacy? Graduation requirement B. Kenny Ingersoll: I don't know if I'd have a name for a level per se, but I would say it would be great for them to have their retirement planning already started if not already going. No so thinking that far ahead at that young of an Jenni Awesome: Yeah. Kenny Ingersoll: age. So I don't know if that Jenni Awesome: Yeah, that's Kenny Ingersoll: qualifies or counts as a level, but that's where I'd I would want them to be. Jenni Awesome: That's well, that's it's huge. That's that's a huge like even for me, a mindset shift of so my one of my daughters just graduated this year and she was at the point of at graduation, I'm just going to apply for a job. Where you're saying we get to have our kids shift from I'm going to apply to be in the workforce when I graduate to I'm already in the workforce. I'm planning to retire when they graduate. Kenny Ingersoll: So or at least have their retirement process, you know. Maybe they're even not retiring when they graduate, but okay, I'm Jenni Awesome: Yeah. Kenny Ingersoll: going to this is you know, and I under I understand they they're not maybe not sure exactly what they want or what the details, but at least be thinking about retirement and getting things in place and looking into it. You know, okay, I I want to retire at this age. This is kind of what I have in mind for how I wanna live and where I wanna live. But having like Jenni Awesome: Mm-hmm. Kenny Ingersoll: that goal already in mind and putting the action steps in place towards getting there. Jenni Awesome: Cause I think one of the things that isn't stressed enough and and being a middle school math teacher and briefly touching on financial math for about three to four weeks in in the curriculum I taught for a few years. there's not a lot of understanding put out there on the idea of time when it comes to compound interest, and that the time to plan for retirement is when you're younger. because it's that time aspect. Because if you if you don't start planning until you're fifty, sixty, you've missed that whole time element to let the compound interest work. Kenny Ingersoll: Yep, exactly. Big opportunity and a lot of people aren't even even thinking about that or have any idea that it has that big of an impact. Jenni Awesome: Mm-hmm. So how how are some ways that like teachers could incorporate some financial literacy into their curriculum? Let's let's say that, you know, they they don't have books or anything that really teaches how to do financial literacy. What what would you recommend for teachers? Kenny Ingersoll: so again depending on the the age level and where they're a comprehension level and stuff, you know, you can start with simple concepts, you know, like underst what financial literacy is, or maybe talk a little bit about money mindset and understanding the relationship, but also the rule of seventy two, you know, and compounding interest. You know, just use basic simple examples for those. age appropriately or whatever and stuff and just start planting those seeds and then helping them grow as those students age. Jenni Awesome: So I've heard the rule of seventy two a couple of times lately. Can you give me a brief understanding of what the rule of seventy two is? Kenny Ingersoll: So yeah, very simple. It's tied directly with compound interest. It's basically you take the interest rate you're earning on whatever money, divide that into 72, and that's roughly how long money will in that account will take to double. You know. Jenni Awesome: Okay. Kenny Ingersoll: So an example of just briefly, if a 29-year-old puts ten thousand dollars in a bank and they're earning one percent interest on that. it's gonna take seventy two years for that money to double. So Jenni Awesome: Gotcha. Kenny Ingersoll: so you you change the interest rate. So instead of earning one percent, let's say you're earning four or six or ten percent, it's gonna have a huge impact on the output. Jenni Awesome: All right, so you you coach people to dream bigger through their finances. Why do you believe that having that bigger dream opening that up, why why is that so important to people? Kenny Ingersoll: 'Cause I believe we were put on earth with a God given gift to do something great with our lives. That's gonna be the gift is gonna be different and the purpose is gonna be different for everybody. And in so doing, living up to that potential requires us to dream, you know, and go for it and have those experiences and help those people and learn that knowledge. and apply that knowledge. So dreaming bigger helps push us to become better people as well. So as I was dreaming bigger, I was starting to learn more and understand more and help people more. So it helped me become a better person so that I could help someone else and just help everybody a ripple effect if we let it. Jenni Awesome: Yeah, so it sounds like that seed was planted in you, that that fire was ignited and you've been able to be more of a servant leader and and share what you've learned and and plant that seed in others. Kenny Ingersoll: No, exactly. That's that's what I hope to do every day. Jenni Awesome: So I'm I'm thinking about this with if if we were to be out in the world and recognize that any person we walk into has that financial confidence. Like, do you do you think that that would create more opportunities and freedom for our society? Kenny Ingersoll: absolutely. It would create opportunities that that we can't even fathom right now, I believe. Jenni Awesome: Mm. Kenny Ingersoll: You know, and and opportunities in all sorts different areas, not just financial opportunities, but growth opportunities, exploration. again, I think, you know, just looking at history. if if Elon Musk, let's take him for example, with SpaceX and discovering and everything. Jenni Awesome: Mm-hmm. Kenny Ingersoll: If he went back to George Washington or whoever and told George Washington what he knows now, where do you think we would be when he got back to twenty twenty six? Jenni Awesome: man, we would be so Kenny Ingersoll: You know. Jenni Awesome: far past that. Kenny Ingersoll: Yeah, exactly. So if we use that in a positive manner, it it would you know, 'cause fifty years ago, sixty years ago, whatever, maybe a hundred years ago, I I'm not sure exactly, but we had no thought even of making it to the moon or making Jenni Awesome: Mm. Kenny Ingersoll: it to Mars. And now look at us today, you know, so if we use that and grew that even more. 'Cause there's Elon Musk is only one man, so if there were seven billion Elon Musks, again just using him as an example, in this world, Jenni Awesome: Mm-hmm. Kenny Ingersoll: what other potential and possibilities could there be in this world? And even Jenni Awesome: Yeah, that Kenny Ingersoll: not in this world, but out of this world. Jenni Awesome: Yeah, and that makes me think of like an exp exponential growth model of like if we're here and we're going this much, well, if we were here, how much higher would we be? How much more would we grow? That's that's Kenny Ingersoll: Yeah, exactly. Compound interest and growth. Jenni Awesome: yeah, that's such a beautiful idea. can you share a success story of someone whose life has changed because they shifted their relationship with money? Kenny Ingersoll: So yeah, I can use myself an example. Jenni Awesome: Yeah. Kenny Ingersoll: I used to hate budgets, going back to budgeting, and money would disappear. You know, at the end I had more month at at the end of the money, you know, and I I didn't Jenni Awesome: Yeah. Kenny Ingersoll: understand where it was going and I always hated it and I'd go I was negative and the the whole reta therapy and more negative and retail therapy and all that stuff until I understood my relationship with money and where it was. And the biggest thing that helped me was understanding the power I was giving to money. Or giving to this or giving to that. And when I recognized and learned that I could take that power back and I had control over that, that was game changer. Now I can okay Mas money is not my master. I am its master. I want this money to do this. I want this money to do this. I'm going to help my kids and my grandkids and twelve generations. People five hundred years from now will know my name. Jenni Awesome: It that's beautiful. Because of of this change that you made, you have changed your family tree. Yeah. Kenny Ingersoll: Exactly. And and ten years ago I had no idea how to do that w even was possible or even that far out. I'm like, yeah, I can help my kids do better than me, you know, I want to do that, but thinking beyond that wasn't in my realm years ago. So growth all around. Jenni Awesome: So how long did it did it take you roughly from that like first frustrating man, I don't wanna do this budget type of mindset to how how long did it take you to really get into the swing of of of writing a budget of of controlling your money instead of it controlling you? How how long did that take? Kenny Ingersoll: So for me it took a few years 'cause I I was very stubborn and I'd you know, I'd I'd wanted change, but I didn't want to change at the same time. I really liked my comfort bubble. Jenni Awesome: yeah. Kenny Ingersoll: And so it just took a while to get out of that and then I'd learn a teeny bit more and then I just learn very, very slowly. Sometimes it took a while. So it it it just took me a lot longer. than it could have if I wasn't so stubborn and wasn't so set in my ways or what I was if I was more willing to ha put in that discipline and work and give it more of an opportunity each time instead of just the little bit of effort I did at start. Jenni Awesome: So if somebody feels like they're too far behind, where would you tell them to start? Kenny Ingersoll: I would tell them first off that they're not too far behind, it's still possible. And then just take the first step. Just I would work on the mindset would be the biggest thing 'cause if if they think they're too far behind then a budget's not gonna help them at the moment. You know, they've gotta work on the belief, you know. Okay, maybe you're you think you're too far behind here. What what about this? Can we take this baby step over here? And then can we take this next baby step? You know, just let's say paying off debt. You know, let's say they've got ten thousand dollars in debt and they're overwhelmed and they're too far behind and they can't keep up, whatever. Okay. Don't worry about the ten thousand dollars. Let's focus on this twenty five bucks right here. Jenni Awesome: Yeah, it's it's that next the the same way you eat an elephant is is one bite at a time, those that small amount. Do you focus Kenny Ingersoll: Exactly. Jenni Awesome: on finding like the small wins first? Kenny Ingersoll: Oftentimes yeah, the big goal and the small wins simultaneously. You know? All right, you're you made that win, let's go to the the next win. Jenni Awesome: Yeah, so for our listeners out there, is are there any books or websites or resources that you would recommend to them to further their own financial literacy journey? Kenny Ingersoll: a few that I would recommend. I'm a big Grant Cardone fan. He's got a load a lot of good financial thought process information, you know, on the dreaming big and the thinking bigger and going after and stuff. And then th th the other thing I would say would be like Bob Proctor would be a big one for the like the actual how the mind works and how the paradigms form and how you can shift them and the subconscious mind. I would start with like Bob Proctor and then maybe like a Grant Cardone on a lot of his f financial stuff. So I know there's not gonna be a a one size fits all of course for everybody, but those are two places that I would start and then Jenni Awesome: And if if any of our listeners wanted to get a hold of you, if they really liked, you know, kind of your process, if they had any interest in working with you, how would they get a hold of you? Kenny Ingersoll: the simplest way is Ingersoll Enterprises dot com. That's got all my contact and social media stuff on it. So Jenni Awesome: Excellent. So is there anything else that we haven't covered so far? 'Cause we're getting closer to time. Is there anything else that you would like to share that we haven't discussed so far? Kenny Ingersoll: the only thing that comes to mind and we touched on it a little bit is you're not too far behind. It is possible for you and start now. Jenni Awesome: Just take that Kenny Ingersoll: Yeah. Jenni Awesome: next step. Kenny Ingersoll: Take that next step. Read that book. Watch that YouTube video. You know, ask someone who's where you want to be, you know, whatever that next step might look like for you. Call me. Go rent or go check out that book from the library. There's several possibilities you could do, but just start now. Jenni Awesome: Yeah. That that that aspect of time too, with especially if you're going to get into interest or you're trying to get out of debt with interest, like that time aspect has a huge has a huge part on our our finances. Kenny Ingersoll: Absolutely. Jenni Awesome: All right, so who was somebody that helped you become who you are today? And do you want to give them a little bit of love and give them a shout out? Kenny Ingersoll: There's so many. Well Of course my heavenly father and then my wife Jillene. I I would not be here without either of them, so I'd have to I'd have to tell you those two. Jenni Awesome: That's lovely. let's see. So imagine let's imagine that there's a teacher out there who decides that they want to use this podcast to help them have a conversation with their kids about financial literacy and why it's important and how it's gonna change their futures. What would you like to say directly to those kids? Kenny Ingersoll: first off, great job for wanting to help others, help the the younger generations. And then yeah, any anything that on this podcast that that you find helpful and just relate it to the age and tie it to their interests, tie it to their their wants and current desires. Again, going back if if my son is focused over here and he likes these things. His eyes are gonna glaze over if I'm talking about these things over here. Or, you know, if we're talking about budgeting for this over here, but he wants to budget for this over here. You know, make it make it more interesting and intriguing and desirable for them to get to. Jenni Awesome: Yeah, that that just gave me a thought of of if 'cause I know kids still love playing Minecraft, say that they want to create a budget for how they're gonna buy or build all those little pieces to build their Minecraft hut, house, whatever they're building. Like give them that opportunity. If they wanna learn how to budget through Minecraft, let them do that. If they wanna do it through spreadsheets because they love spreadsheets, let them do it that way. Like there's no wrong entry point to learn how to budget. Kenny Ingersoll: Yeah, absolutely. Just starting somewhere and applying the principles. Jenni Awesome: All right, so my closing question for you. Kenny, if you had the opportunity to change one thing about education, families, or our community that would have the greatest positive impact on the next generation, what would it be? Kenny Ingersoll: Ooh, that's a that's a hard one to answer with a single answer. I Jenni Awesome: Yeah. Kenny Ingersoll: think pouring more belief and encouragement into people, whatever the topic is, would be the the answer for for that. Jenni Awesome: I love it. Well, Kenny, thank you so much for coming on to the Jennifer Awesome podcast. It was wonderful to speak with you. Kenny Ingersoll: Well, thank you for having me, Jennifer. I was honored to be here. Jenni Awesome: And can you tell us your website again one more time? Kenny Ingersoll: Ingersalt Enterprises dot com all one word Ingersalt Enterprises dot com so thank you. Jenni Awesome: Thank you. Well, thank you for tuning in to the Jennifer Awesome podcast. We will see you next time.