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20. Why My Cats Have Their Own Savings Account (And Yours Should Too) · The Money Clarity Podcast

• 0:00
  Lindsey: Hello, hello and welcome to the season one finale of the Money Clarity Podcast.
• 0:09
  Lindsey: I am your host, Lindsay Ciarrocca.
• 0:11
  Lindsey: YNAB certified coach, certified money coach.
• 0:14
  Lindsey: And as you probably know by now, total budget nerd and very proud crazy cat lady.
• 0:22
  Lindsey: Before we get into today's topic, I just wanna take a moment to say a massive thank you, whether you've been with me since episode one, or you just found me recently, I am.
• 0:35
  Lindsey: So grateful you've spent part of your days with me this season.
• 0:40
  Lindsey: My mission is to help you use money as a tool to live your greatest life.
• 0:46
  Lindsey: And it has been such an honor to hear your stories and to see you gaining clarity around your finances.
• 0:55
  Lindsey: So thank you.
• 0:56
  Lindsey: Thanks for being here, and I appreciate each and every one of you listening every week.
• 1:02
  Lindsey: All right.
• 1:02
  Lindsey: As we are wrapping up this season, I wanted to leave you with one of my favorite budgeting tips that might just give you a little bit of instant peace of mind.
• 1:14
  Lindsey: I've talked about this before, but I wanted to leave you with this reminder on sinking funds.
• 1:21
  Lindsey: If you've ever felt like your budget was.
• 1:24
  Lindsey: Broken because an annual bill popped up or your car needed new tires, sinking funds might just be your new best friend In the YNAB world, we call this Embracing your True Expenses, and I talk more about YNAB's four
• 1:43
  Lindsey: original rules in episode 14.
• 1:45
  Lindsey: So go ahead and go back and listen to that one if you haven't already.
• 1:49
  Lindsey: Basically what this means is that.
• 1:51
  Lindsey: We are taking those big, scary non monthly costs.
• 1:55
  Lindsey: Maybe those ones that are going to happen someday, but we have no idea when, and breaking them down into manageable monthly bites.
• 2:05
  Lindsey: So I'm gonna give you a cat example for this.
• 2:09
  Lindsey: As you might know, I have three cats and while, they're basically my children.
• 2:15
  Lindsey: The last thing I want is to end up at the Emergency Vet with a $1,200 bill where I'm just handing over my credit card thinking, I know I don't have the money for this, but I literally don't have
• 2:30
  Lindsey: another option.
• 2:33
  Lindsey: And trust me, I've been there.
• 2:35
  Lindsey: I remember that exact moment in the ER vet years ago.
• 2:40
  Lindsey: I can see it.
• 2:42
  Lindsey: Standing there at the counter, leaving and handing over my credit card and just knowing we didn't have the money, no idea how we were gonna pay for that.
• 2:52
  Lindsey: You know, maybe you've experienced something similar with one of your pets or your kids, or maybe just a car repair in the past when you don't have money set aside for those expenses, that Bill might have felt like
• 3:06
  Lindsey: a financial emergency.
• 3:09
  Lindsey: But now I have a cat medical sinking fund right there in my YNAB budget.
• 3:16
  Lindsey: This is where I set aside a little bit of money every single month.
• 3:20
  Lindsey: And since I'm not spending from this category regularly, the money just sits there and adds up waiting for the day when it's needed.
• 3:29
  Lindsey: Like last year we had another ER vet for one of our other cats, but this time we had over $700.
• 3:37
  Lindsey: Just ready and waiting for that specific expense.
• 3:42
  Lindsey: So we were able to focus on our kitty rather than how much the bill was going to be.
• 3:49
  Lindsey: And fun fact, the bill actually ended up being just under the total amount we had in that category.
• 3:55
  Lindsey: So it was such a relief just knowing I'm gonna hand over my card, but I have the money waiting to pay the bill that is the power of a sinking fund.
• 4:07
  Lindsey: It turns a potential crisis into just another Tuesday afternoon.
• 4:15
  Lindsey: Inside my membership, the Empowered Money Circle, sinking funds are going to be our topic of the month.
• 4:20
  Lindsey: For April, we are going to be diving deep into identifying those hidden expenses that usually trip us up and get them set up so that you'll never have to stress about them again.
• 4:33
  Lindsey: If you're looking for some support to help set up your own sinking funds, I would love to see you inside the membership, and if you've been thinking about joining us in inside the membership.
• 4:43
  Lindsey: I wanted to give you a heads up that the price for the Empowered Money Circle is increasing on April 1st.
• 4:50
  Lindsey: So if you are listening to this in real time, right now is the moment to lock in the current rate.
• 4:56
  Lindsey: If you join before the price increase, you will be locked into the current rate.
• 5:01
  Lindsey: As long as you are a member, you'll be able to jump into learning more about sinking funds as well as all of the core course material, and this is exactly what I teach my clients in my one-to-one coaching.
• 5:13
  Lindsey: I've taken it all and put it all inside the membership for you.
• 5:17
  Lindsey: Plus I'm also just about finished with a 90 day plan so you know exactly what to work on.
• 5:24
  Lindsey: As soon as you jump in.
• 5:26
  Lindsey: Head over to theexuberantelephant.com/emc for Empowered Money Circle.
• 5:33
  Lindsey: To join us now.
• 5:37
  Lindsey: All right.
• 5:37
  Lindsey: A few final thoughts as we wrap up this last episode.
• 5:41
  Lindsey: Like I mentioned, this is the end of season one and I'm gonna be taking a little bit of a break in between seasons, but I will be hanging out inside the Empowered Money Circle every day.
• 5:52
  Lindsey: You can also hop on my email list if you aren't already, and you will still get to hear from me every single week.
• 5:59
  Lindsey: But again, I just wanna say thank you.
• 6:01
  Lindsey: Thank you for joining me on this first season.
• 6:03
  Lindsey: It's been a wild ride.
• 6:05
  Lindsey: It's been fun, and it's been a pleasure to be able to get to talk to you about this stuff every week.
• 6:12
  Lindsey: And remember my final thought.
• 6:14
  Lindsey: As always, money should be a tool to help you live your biggest, wildest dreams.
• 6:23
  Lindsey: I want you to go out there and spend and save with confidence.
• 6:29
  Lindsey: I will talk to you next season.