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The Power Of Setting Small Money Goals · She's On The Money

0:00
Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr
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Speaker 1: the Order Kerney Whoalbury and a waddery woman. And before
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Speaker 1: we get started on She's on the Money podcast, I
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Speaker 1: would like to acknowledge the traditional custodians of the land
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Speaker 1: of which this podcast is recorded on a wondery country,
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Speaker 1: acknowledging the elders, the ancestors and the next generation coming
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Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
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Speaker 1: and the storytelling of you to make a difference for
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Speaker 1: today and lasting impact for tomorrow.
0:33
Speaker 2: Let's get into it.
0:34
Speaker 3: She's on the Money, She's on the Money.
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Speaker 4: Hello, and welcome to She's on the Money, the pod
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Speaker 4: cast millennials who.
1:01
Speaker 5: Want financial freedom.
1:03
Speaker 4: It will covers no surprise to those of you who
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Speaker 4: listen often to the show that I'm bexay ed just kidding.
1:08
Speaker 5: If you're noted, is sick? Just greed?
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Speaker 4: Sheese You've got me instead today, But hopefully I do
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Speaker 4: her justice. And I'm really excited because today we're talking
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Speaker 4: all things small money goals with financial Wizard Victoria to Fine.
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Speaker 6: Oh, hello, you're here too. I'm excited about this. It's
1:27
Speaker 6: been a while since you've been on a deep dive.
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Speaker 5: I know this is fun and I love a good
1:31
Speaker 5: goal setting moment.
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Speaker 6: We were talking when I told you about the topic.
1:34
Speaker 6: I was like, look, be's not well. Do you think
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Speaker 6: you can do this episode? You're like, oh, this was
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Speaker 6: made for me.
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Speaker 4: We love a good goal in this team. And V
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Speaker 4: You're always throwing around the quote from Little Things, Big
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Speaker 4: Things Grow.
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Speaker 2: No, I'm not what are you talking about. I would never.
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Speaker 5: Definitely don't have it printed on books inside.
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Speaker 6: I would not plagiarize Paul Kelly's work ever.
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Speaker 4: But it's been a little while since we've spoken about
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Speaker 4: how this concept can apply to our finances, not just
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Speaker 4: as like a fun little motivational quote.
2:02
Speaker 6: I love a little quote, but like it means a
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Speaker 6: lot to me because it is true right like, and
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Speaker 6: it's one of those things that I used to tell
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Speaker 6: myself when I was getting out of debt or when
2:12
Speaker 6: I was doing things that were really hard. It was like,
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Speaker 6: from little Things, Big Things Grow, It's okay. Later, I'm
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Speaker 6: probably going to teach you about ants because like, hey, ants, Yeah, okay.
2:22
Speaker 2: I'm gonna teach you about ants.
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Speaker 6: But like one ant you think is really like insignificant
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Speaker 6: and like if you put it on a scale, it would.
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Speaker 2: Not mean that much.
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Speaker 6: But like the strengthen ant has is so mighty and powerful,
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Speaker 6: Like they can live like more than twenty times their
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Speaker 6: own body weight. Jess, Like, one, that's wild.
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Speaker 2: Two that's terrifying. Imagine if there were trying ants on
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Speaker 2: this planet, Like I'm done.
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Speaker 1: I'm out.
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Speaker 2: Like you were scared of spiders, No, I'm terrified of ants.
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Speaker 5: Yeah, they run around and they're like yeah.
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Speaker 6: But like they all come together and there are more
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Speaker 6: ants that like, if we looked at the world, there
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Speaker 6: is a higher volume by weight of ants than there
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Speaker 6: are people.
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Speaker 5: Jess could have lived my day without knowing that.
3:01
Speaker 2: But movie, but they're little, but like they're mighty, and
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Speaker 2: so will we.
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Speaker 6: And so I think it's a really cool quote that
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Speaker 6: a lot of people in our community really resonate with,
3:10
Speaker 6: which is why I bring it up so often. But
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Speaker 6: also something that keeps me motivated because sometimes you don't
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Speaker 6: feel like doing the little things, but you're like, no.
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Speaker 2: The little things they actually make up the big things
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Speaker 2: one hundred percent.
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Speaker 4: And I feel like that really leans into what we're
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Speaker 4: going to chat about today, which is the power of
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Speaker 4: setting small goals. Specifically, a lot of people out there
3:27
Speaker 4: don't often set themselves financial goals, And I think that's
3:30
Speaker 4: because sometimes the big goals can seem unattainable, But setting
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Speaker 4: a goal for twenty dollars or fifty dollars might feel
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Speaker 4: like a bit of a waste of time.
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Speaker 5: Do you think that's the case.
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Speaker 2: Honestly, historically, I thought that was a waste of time.
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Speaker 6: Like take her back to when I was like twenty three,
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Speaker 6: twenty four getting out of debt. Like, and if you
3:48
Speaker 6: told me they like you need to set small financial goals,
3:51
Speaker 6: I'd be like, I'm in debt, Jessica, I have tens
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Speaker 6: of thousands of dollars of debt, and you want me
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Speaker 6: to set a fifty dollar financial goal? That is a
4:00
Speaker 6: waste of time. But that is absolutely not the case.
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Speaker 6: I'm stat's girl in this House also quotes girl, So
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Speaker 6: I have another one for you. I love You've heard
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Speaker 6: this on the show before, but if you can't manage
4:11
Speaker 6: ten dollars, you definitely can't manage ten thousand dollars.
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Speaker 2: And that's so so true.
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Speaker 6: Like I created She's on the money because I obviously
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Speaker 6: adore helping people when it comes to all things finance,
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Speaker 6: and if you just paid off your debt and bought
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Speaker 6: a house and started the business or got the promotion, Like,
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Speaker 6: I'm here to celebrate you, but I'm also here to
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Speaker 6: celebrate the small things and the small steps because they're
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Speaker 6: the building blocks. Like setting your first fifty dollar financial goal,
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Speaker 6: it's all about confidence. It's instilling in you the idea
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Speaker 6: that you definitely can do this and you can start
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Speaker 6: scaling it. Like how many of us want to, you know,
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Speaker 6: pay off all our debt, but it seems all consuming
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Speaker 6: and overwhelming. And every other financial goal jest you've set,
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Speaker 6: you've failed at because you haven't done the planning, or
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Speaker 6: you haven't had the right tools or resources, or you
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Speaker 6: haven't had the commitment.
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Speaker 2: Let's be honest, I'm really good.
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Speaker 6: At going I want to do this this week, and
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Speaker 6: to your dismay, Jessica, next week, I don't want to
5:06
Speaker 6: do that anymore.
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Speaker 2: We do something else.
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Speaker 6: So I think it's really important to kind of like
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Speaker 6: celebrate the small things as well as the large things,
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Speaker 6: because the small things become the large things.
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Speaker 2: What would you.
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Speaker 4: Say to someone who felt as though sharing the idea
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Speaker 4: of a small money goal with maybe their friends or
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Speaker 4: their family you know, if they do decide to set
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Speaker 4: that smaller twenty or fifty dollar goal, but they go, oh,
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Speaker 4: it seems a bit lame, a bit embarrassing.
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Speaker 2: It's a bit silly.
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Speaker 5: Yeah, how do we kind of overcome that the.
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Speaker 2: Small wins are the big wins?
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Speaker 1: Yess?
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Speaker 2: And they often go unnoticed?
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Speaker 6: And I think that's because we usually see people, especially
5:42
Speaker 6: in twenty twenty four, Jess like social media is insane. Yeah,
5:48
Speaker 6: let's be honest, like, let's make this a bit more relatable.
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Speaker 6: I'm probably not going to post on my Instagram stories
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Speaker 6: about achieving a fifty dollar financial goal, because how many
5:56
Speaker 6: times do you see people celebrating their really big financial
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Speaker 6: goals social media where they're like, I bought my first house,
6:03
Speaker 6: I bought my first car, I got out of mass
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Speaker 6: amounts of debt, And you're like, oh, like.
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Speaker 2: Is it that good?
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Speaker 6: Yes, it is because the small things they're the transformational ones.
6:12
Speaker 6: They're the ones that are going to change our lives
6:14
Speaker 6: for the better. And it turns out that when we
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Speaker 6: set the small ones, we are more likely to achieve
6:19
Speaker 6: the big ones. And when we see our goals as
6:22
Speaker 6: too big from a psychological perspective, it actually overstimulates our brain,
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Speaker 6: like we get analysis paralysis. We feel overwhelmed and uninspired,
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Speaker 6: and then we can't deal with our goals rationally. We go, oh,
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Speaker 6: it's not enough, or it's too much, or it's too hard,
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Speaker 6: and that's when we like to bury our heads in
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Speaker 6: the sand. But when we actually focus on really specific,
6:44
Speaker 6: smaller things, they are smaller problems to solve. We're able
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Speaker 6: to achieve them, but we're also able to build our
6:50
Speaker 6: confidence and we're able to learn from them and go, oh,
6:53
Speaker 6: I you know, I thought I could do that fifty dollars,
6:56
Speaker 6: but far out I actually need to tighten up my
6:57
Speaker 6: budget a little bit.
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Speaker 2: You're not waiting an entire twelve month period, Jess, to
7:02
Speaker 2: find out that your budget was wrong.
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Speaker 6: Like, we're doing small things, small steps in the right direction,
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Speaker 6: and we're able to build them up and then that
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Speaker 6: becomes the big thing. We're breaking things down so that
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Speaker 6: we feel good about ourselves. And there's a researcher called
7:17
Speaker 6: Carl Weck and he put it, well, maybe this is
7:20
Speaker 6: a new quote to add to the quote our portfolio
7:23
Speaker 6: this year. He said, small wins are controllable opportunities that
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Speaker 6: produce visible results. I love that I love that too.
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Speaker 6: It's not as easy as like, from little things, big
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Speaker 6: things grow, but like, I just really like the intention
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Speaker 6: behind it.
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Speaker 5: Anecdotally.
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Speaker 4: That's why I love our Money Wins threat that we
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Speaker 4: put in the Facebook group and that we run through
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Speaker 4: on a Friday episode, because yes, we do have people going, oh,
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Speaker 4: I paid off my credit card, I did this, or
7:47
Speaker 4: I did that. But sometimes mue Go's got some free
7:50
Speaker 4: chips at macas this week.
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Speaker 6: And you're like slay queen, although saying like I did
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Speaker 6: my budget in cash flow and I've been doing it
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Speaker 6: for a year, and Jess, for the first time, I've
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Speaker 6: got twenty bucks left over queen behavior, Is there.
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Speaker 5: Such a thing as too small of a money goal?
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Speaker 6: I like that you're asking, but you and I both
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Speaker 6: know that suggests yes or no.
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Speaker 2: I'm going to say no.
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Speaker 1: No.
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Speaker 6: Of course, it's all about consistency and proving to yourself
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Speaker 6: that you can do it. I think so many of
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Speaker 6: us are in this circumstance where we're so empowered to
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Speaker 6: change our financial goals and our financial lives, and we're
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Speaker 6: so excited about that, but we also need to recognize
8:27
Speaker 6: that our money stories are such big parts of this
8:29
Speaker 6: and they could be working against you.
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Speaker 2: So if you didn't.
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Speaker 6: Grow up with the tools and the resources, and then
8:35
Speaker 6: all of a sudden you've joined the She's on the
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Speaker 6: Money community, or you've joined any other finance community, and
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Speaker 6: you're really excited about getting it done, and then you're
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Speaker 6: really overwhelmed because you're like, oh, saving for a house.
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Speaker 6: I've gone from having absolutely no you know, restriction on
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Speaker 6: how I spend or like structure or any type of
8:55
Speaker 6: plan when it comes to finances, and now I'm saving
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Speaker 6: for my first house. It's a massive change. Like and
9:02
Speaker 6: as much as that's a noble one, if you're doing that,
9:05
Speaker 6: then I'm so proud of you. But let's be honest.
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Speaker 6: You don't just wake up one day and go, do
9:09
Speaker 6: you know what, Jess, I've been thinking. I don't even
9:13
Speaker 6: like the gym. I don't like exercising. Sometimes I justify
9:18
Speaker 6: the walk to the coffee shop as my exercise. Six
9:22
Speaker 6: months from now, I'm going to run a marathon.
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Speaker 3: Yeah?
9:24
Speaker 2: Would I do that? Would you like? Probably?
9:27
Speaker 6: I have ADHD and sometimes I just get fixated. But
9:32
Speaker 6: is that reasonable?
9:33
Speaker 2: You would go? Fee, that's way too much to bite off.
9:35
Speaker 6: You don't even run five k, now you couldn't even
9:37
Speaker 6: run five k and Jess, you know what, there are
9:39
Speaker 6: some people in this world who have done that. They've
9:41
Speaker 6: woken up one day and gone, I'm going to run
9:43
Speaker 6: a marathon. Yeah, it's psychotic.
9:46
Speaker 5: I am not one of those.
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Speaker 2: I am not one of those people.
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Speaker 6: But also, you can't just wake up one day and
9:52
Speaker 6: all of a sudden be able to do these really
9:55
Speaker 6: big things without some practice. First, we need to run
9:58
Speaker 6: a few five ks, we need to learn to run
10:00
Speaker 6: the first one hundred meters.
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Speaker 2: So these small goals are what creates the big goal.
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Speaker 6: And I think it's obviously going to depend on your
10:07
Speaker 6: financial situation and you know what you want to create
10:10
Speaker 6: in life and what job you have and what cash
10:12
Speaker 6: flow you've got accessible. But so many small money wins
10:16
Speaker 6: are actually quite personal. And again there's no right or wrong,
10:20
Speaker 6: but you need to find your own inner motivation. Yeah,
10:22
Speaker 6: but you also need to be reasonable, Like you can't
10:24
Speaker 6: just wake up tomorrow and be like, all of a sudden,
10:26
Speaker 6: I can run a marathon.
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Speaker 5: Yeah, I can't be like I'm going to walk on
10:29
Speaker 5: the moon this month.
10:30
Speaker 2: It's just not going to happen. Like, there's got to
10:32
Speaker 2: be a plan in place.
10:33
Speaker 5: What about the people.
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Speaker 4: Who can't think of a small goal that they want
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Speaker 4: to reach. If maybe they're focusing their goal is to
10:39
Speaker 4: buy the house. Yeah, that's they've woken up, They've gone Note,
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Speaker 4: that's really important to me. That's what I want to do.
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Speaker 6: But how do I want to run the marathon? Be Yeah,
10:46
Speaker 6: stop trying to gas like me and not running a marathon?
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Speaker 4: Yeah, but how do I Buying a house is a
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Speaker 4: big goal? Like I can't buy a house for five
10:52
Speaker 4: hundred dollars, So what's the small goal there?
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Speaker 6: So I don't think there there's no such thing as
10:58
Speaker 6: not having small goals, because often small goals are just
11:01
Speaker 6: really big goals that are broken down into smaller parts
11:05
Speaker 6: so when we can celebrate them along the way. But
11:07
Speaker 6: also we can prove to ourselves that we are capable.
11:10
Speaker 6: We can prove to our selves that we can do this.
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Speaker 2: Sometimes we need that.
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Speaker 6: And while smaller goals you might be like V, Look,
11:17
Speaker 6: a smaller financial goal is just not going to work
11:19
Speaker 6: for me right now. It might actually be a better
11:22
Speaker 6: use of your time to break this house goal into
11:25
Speaker 6: smaller chunks. So maybe we're talking about setting up your
11:28
Speaker 6: first emergency fund instead of making your goal to have,
11:31
Speaker 6: like a five thousand dollars emergency fund.
11:33
Speaker 2: If you've never had.
11:34
Speaker 6: One before, Jess, it's going to feel overwhelming, uninspiring too much.
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Speaker 6: You might start and then be like, I'm only two
11:41
Speaker 6: hundred dollars of the way there. I thought i'd be
11:43
Speaker 6: better at it. What the hell? Maybe we actually set
11:47
Speaker 6: the goal of saving your first hundred dollars, Like, let's
11:49
Speaker 6: just save one hundred dollars. I know there's a bigger
11:52
Speaker 6: goal at play in the future, but like, you've never
11:54
Speaker 6: done this before, so let's start at the very start
11:57
Speaker 6: one hundred bucks. This way, you could start using this
12:00
Speaker 6: one hundred dollar figure as building blocks for your bigger goals.
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Speaker 6: One we can celebrate along the way and ere it
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Speaker 6: cheese on money. That's all we want to do. Like
12:07
Speaker 6: if somebody every single week posted in my money Wins
12:10
Speaker 6: thread and said, oh, yep, got another fifty bucks in
12:13
Speaker 6: my emergency fund, I'd be like, slate, get it, Like
12:15
Speaker 6: I'm so here for that, So please start sharing those.
12:18
Speaker 6: But it proves to yourself that you can be good
12:21
Speaker 6: at money. People aren't born good at money, just you
12:25
Speaker 6: have to learn. It has to be ingrained, it has
12:27
Speaker 6: to be taught so you can teach yourself that you
12:30
Speaker 6: can be good at money. And then there's the idea
12:33
Speaker 6: that small wins, again from more of a psychological perspective,
12:37
Speaker 6: they're so good for your well being, They're so good
12:40
Speaker 6: for your mental health because big wins and big losses
12:44
Speaker 6: there's so much more dramatic. It's like being bipolar and
12:47
Speaker 6: having these massive mood swings and going from one extreme
12:51
Speaker 6: to another. Like you have a really big win, you're
12:53
Speaker 6: gonna celebrate really big. But often people experiencing something like bipolar,
12:58
Speaker 6: they can't just feel ok in the middle. So it's
13:01
Speaker 6: finding that beautiful middle ground where we can celebrate the
13:04
Speaker 6: small things and go these minor boosts. They come from
13:07
Speaker 6: my day to day activities, and I'm happy along the journey,
13:11
Speaker 6: not just with the destination. And I think, to me,
13:13
Speaker 6: that's really really important.
13:15
Speaker 5: Yeah, that's huge.
13:16
Speaker 4: I feel like there's probably a lot of people listening
13:18
Speaker 4: who are getting excited by the idea of what they
13:20
Speaker 4: can do.
13:21
Speaker 6: And I hope so because like New Year, new financial goals, babies.
13:24
Speaker 4: The perfect time to be looking at this. So let's
13:27
Speaker 4: head to a really quick break and when we come back,
13:29
Speaker 4: I want to ask you a bit more about how
13:31
Speaker 4: we can start looking for and celebrating those small money
13:33
Speaker 4: goals so we can all have.
13:34
Speaker 6: Our best to yet good quote, Jess, have your best
13:37
Speaker 6: to you yet.
13:42
Speaker 4: All Right, we're back VD, and I'm feeling very excited
13:46
Speaker 4: about the idea of setting some small money goals. I'm
13:48
Speaker 4: sure everybody else listening is as well.
13:50
Speaker 2: Though it's just twenty twenty four, the year of celebration.
13:53
Speaker 5: I love that it's this year, one big party. This
13:55
Speaker 5: year is our year, Jess, I feel it.
13:57
Speaker 2: I do genuinely feel.
13:58
Speaker 6: Like we are making the conscious decision just to have
14:01
Speaker 6: the best you yet, like, I feel like you're doing
14:03
Speaker 6: this too.
14:04
Speaker 2: You're like end of twenty twenty three absolute trash.
14:07
Speaker 6: If you listen to our Friday Drinks episodes, you know
14:09
Speaker 6: what Jess is going through. Iykiyk. But I guess my
14:15
Speaker 6: whole entire point is to, I guess, celebrate more often
14:19
Speaker 6: and give ourselves the credit that we deserve. I guess
14:23
Speaker 6: the more you can prove to yourself that you can
14:25
Speaker 6: in fact achieve small money goals, even life goals, Like
14:29
Speaker 6: it doesn't just have to be small money goals.
14:31
Speaker 2: It's going to build your confidence. Ye, You're going to
14:33
Speaker 2: be like I can do this. I've done it before.
14:36
Speaker 6: If I can deal with ten bucks, just so I
14:38
Speaker 6: could do it with twenty bucks, could be twenty, I
14:40
Speaker 6: could do it with forty, and it just compounds from there.
14:43
Speaker 6: It's like investing, but investing in yourself.
14:45
Speaker 5: Oh that I did.
14:47
Speaker 2: There done, But you don't.
14:49
Speaker 6: As I said in the first half of the episode,
14:51
Speaker 6: you're not just gonna immediately wake up with all this
14:54
Speaker 6: motivation and all this self discipline and I guess a
14:57
Speaker 6: plan to create financial freedom, we actually need to bring
15:00
Speaker 6: it down into smaller blocks. And these things sadly don't
15:03
Speaker 6: happen overnight.
15:04
Speaker 2: Like I could. I wish you know you and I could.
15:07
Speaker 6: Wake up one day and be like we today, today's
15:10
Speaker 6: the day we're going to create financial freedom.
15:12
Speaker 2: We'll be financially free tomorrow.
15:13
Speaker 5: Just imagine.
15:14
Speaker 2: It's just not going to happen. And that's okay, But
15:17
Speaker 2: as human beings, we are the worst.
15:18
Speaker 6: It delayed gratification, So like, let's work with that and
15:22
Speaker 6: give you some gratification along the way. To do that,
15:24
Speaker 6: we need to make the goals smaller because it turns
15:27
Speaker 6: out weird, but money.
15:29
Speaker 2: Is not infinite.
15:30
Speaker 5: That seems kind of rude, kind of rude.
15:32
Speaker 6: Not okay, but like, we don't actually have enough of
15:36
Speaker 6: it to achieve absolutely everything at once, and if you do,
15:39
Speaker 6: I really want am envious.
15:41
Speaker 2: But to why are you listening to my podcast if
15:43
Speaker 2: you're a multi billionaire?
15:44
Speaker 4: Yeah?
15:45
Speaker 7: Weird?
15:45
Speaker 2: Okay, but hi welcome. If you need some financial advice,
15:48
Speaker 2: I might go back into business.
15:50
Speaker 6: But I guess as long as we don't put too
15:52
Speaker 6: much pressure on ourselves, that's the plan. So we're going
15:55
Speaker 6: to celebrate small goals this year, but we're also going
15:58
Speaker 6: to take the pressure off because life is tough right now,
16:01
Speaker 6: and I think we need to acknowledge that too, because
16:03
Speaker 6: even if you're like the setting small financial goals sounds
16:06
Speaker 6: really sexy, I do not have fifty bucks in my
16:09
Speaker 6: budget right now. How about we just remember that every
16:13
Speaker 6: part of your life is a season, and right now
16:15
Speaker 6: you're going through a season that is a little bit
16:17
Speaker 6: more complex, a little bit more pressure, And that's okay.
16:20
Speaker 6: But you don't always have to be saving and investing.
16:23
Speaker 6: I think so many times you hear from financial content
16:26
Speaker 6: creators like you cannot stop. You have to invest consistently
16:29
Speaker 6: and regularly. Don't get me wrong. That's where the power
16:32
Speaker 6: of compound interest comes in. But if life is getting
16:34
Speaker 6: in the way, you take that pressure off yourself and
16:37
Speaker 6: you do you And I'm proud that one day you'll
16:40
Speaker 6: be back on the horse.
16:41
Speaker 7: Yeah.
16:41
Speaker 4: I think there are lots of people who listen to
16:43
Speaker 4: the show who are maybe learning about things that are
16:46
Speaker 4: quite in the place to implement yet, and I feel
16:48
Speaker 4: like there is but.
16:49
Speaker 2: You'll be ready.
16:50
Speaker 4: Yeah, you don't undervalue the power of educating yourself, I guess,
16:53
Speaker 4: is what I'm trying to say. And like, if you're
16:55
Speaker 4: listening to this and going, oh, I want to set goals,
16:57
Speaker 4: what would those goals look likely? Even if you're just
16:59
Speaker 4: thinking the goals and you're not, we can be aspirational.
17:02
Speaker 2: We can make a plan.
17:03
Speaker 6: We can be like, oh, well, in the future, you know,
17:06
Speaker 6: maybe one to daycare is over, or maybe once you're
17:08
Speaker 6: out of personal debt, or maybe once you get a
17:10
Speaker 6: job again, like you can get back on track with
17:13
Speaker 6: these things. But that doesn't mean we have to like
17:14
Speaker 6: hide from the fact that we want to achieve these
17:16
Speaker 6: things in the future. Isn't it motivational to like be like, no, no, no,
17:19
Speaker 6: I'm totally capable. I just don't have the right tool
17:22
Speaker 6: in my hand right now.
17:23
Speaker 4: And that is setting yourself up for success just as
17:25
Speaker 4: much as setting those goals could be as well.
17:28
Speaker 5: Exactly, I know that you love a tactical, tangible way
17:32
Speaker 5: to do things.
17:33
Speaker 2: I love setting a goal, I love a plan, I
17:35
Speaker 2: love a spreadsheet.
17:35
Speaker 4: Save it's like the perfect woman to be running this episode.
17:37
Speaker 4: So tell me have you got anything for us when
17:40
Speaker 4: it comes to goal setting?
17:41
Speaker 6: So obviously, these small goals are going to build up
17:44
Speaker 6: our confidence, and in my head they actually create like
17:46
Speaker 6: a snowball effect. It's like debt reduction. We've talked about
17:49
Speaker 6: the avalanche method. We've also hystorically talked about the snowball method,
17:52
Speaker 6: and that's where like you have a really small snowball
17:55
Speaker 6: and drop it at the top of the mountain and
17:56
Speaker 6: as it starts to roll down, it starts to pick
17:58
Speaker 6: up more and more snow and bigger and bigger. And
18:01
Speaker 6: you know, a snowflake tiny, not gonna have an impact
18:03
Speaker 6: on anything, but get heaps of them together and you
18:06
Speaker 6: have a snowball and I could literally throw it at you, sligh.
18:09
Speaker 2: That would be so fun. You've never been to the
18:10
Speaker 2: snow so no, have you been to the.
18:12
Speaker 5: Snow I saw it once on top of mountain ten.
18:15
Speaker 6: Now, yeah, okay, I remember this conversation because I feel
18:18
Speaker 6: like this year, I'm gonna take you to the snow
18:20
Speaker 6: and I'm going to put you on some skis, push.
18:23
Speaker 2: Mountain, achieve your goals by it's your best use.
18:26
Speaker 6: Yeah, Jessica, you wait, you wait, But I guess on
18:31
Speaker 6: your own small money wins.
18:33
Speaker 2: They can just feel boring.
18:35
Speaker 5: Yeah, they can feel black.
18:37
Speaker 2: It's not that exciting.
18:38
Speaker 6: So I think we need to tap into the power
18:40
Speaker 6: of small winds so that I guess they have meaning
18:43
Speaker 6: and they don't feel like useless tasks that you don't
18:46
Speaker 6: know why you did them. And I guess we need
18:49
Speaker 6: to start seeing it that way. It's a bit of
18:51
Speaker 6: a mind frame reset as well, and we need to
18:54
Speaker 6: talk about I guess, recognizing why they matter and giving
18:57
Speaker 6: yourself credit for that, because how many times do you
18:59
Speaker 6: do something you're like, yeah, I guess it was the
19:01
Speaker 6: right thing to do, Like.
19:02
Speaker 2: On to the next, onto the next, no worries.
19:05
Speaker 6: But let's give ourselves credit for stuff like that and
19:07
Speaker 6: celebrate them as they happen. I'm not saying you need
19:09
Speaker 6: to have a party every single time you have a
19:12
Speaker 6: money win, jess Or like to crack a bottle of
19:15
Speaker 6: expensive champagne to celebrate that you saved fifty dollars, but
19:18
Speaker 6: you spent eighty dollars on the shampas. Like, that's not
19:21
Speaker 6: the type of celebrating. I think it's more of a
19:22
Speaker 6: like be proud of yourself.
19:24
Speaker 2: Cayge a minute.
19:25
Speaker 6: They're like, oh, yeah, I did it, and I'm going
19:27
Speaker 6: to do it again. Like I think that that's really important. Obviously,
19:30
Speaker 6: share it with us. There are so many ways that
19:32
Speaker 6: you can actually celebrate. I'm liszt scal. I love this episode.
19:37
Speaker 6: I've reminded you that I'm stat scale, I'm quote scale,
19:40
Speaker 6: and so list girl also spreadsheet girl.
19:42
Speaker 2: Oh god, do you know in Vegas they have a
19:44
Speaker 2: spreadsheet competition.
19:45
Speaker 5: You would win?
19:46
Speaker 2: I have no I don't know if i'd win.
19:49
Speaker 6: But like if I was ever single, that might be
19:51
Speaker 6: where I go to find another husband.
19:53
Speaker 5: Yeah, the love of your life. You're a real outside
19:55
Speaker 5: of spreadsheets.
19:56
Speaker 2: Just think the guy who's a freaking the sheets. Anyway,
19:59
Speaker 2: very well done.
20:00
Speaker 6: Given I am the queen of lists, I have clearly
20:02
Speaker 6: written you a list to help you keep the momentum up.
20:05
Speaker 6: So first things first, do you celebrate your wins? Obviously,
20:09
Speaker 6: because we're not going to be going hard every single
20:12
Speaker 6: time we have a small money win, because you should
20:14
Speaker 6: be having them regularly. We're going to keep a journal,
20:17
Speaker 6: like we're going to keep a list of things that
20:19
Speaker 6: we have won, a list of wins that you want
20:22
Speaker 6: to achieve, because obviously all of these wins are going
20:25
Speaker 6: to add up, and all of the little things that
20:27
Speaker 6: you're doing in the list, you might think they're their mundane,
20:29
Speaker 6: but I promise when you get to the end of
20:31
Speaker 6: the year and you reflect on them, you're going.
20:33
Speaker 2: To have this book of all the stuff that you
20:35
Speaker 2: did for you. Isn't that kind of cool to like
20:38
Speaker 2: flip through And I don't know.
20:40
Speaker 6: I like reading my diary from when I was younger
20:42
Speaker 6: and I look at it and I go, oh, gosh,
20:44
Speaker 6: that was lame, but also go boo, like I love it.
20:47
Speaker 6: So I think keeping a list is going to keep
20:50
Speaker 6: your momentum up, but it also kind of keeps you
20:51
Speaker 6: accountable because you're writing that list. Yeap the done list
20:54
Speaker 6: as well, So not just these ideas that you're going
20:57
Speaker 6: to achieve, write those down, but of these, write down
21:00
Speaker 6: the things that you've actually learned. Make room and make
21:04
Speaker 6: space celebrate them. Find a little accountability partner like Jess,
21:08
Speaker 6: I know if I did something, I do usually text
21:11
Speaker 6: you to tell you. But if you don't have that
21:14
Speaker 6: friend or that person in your life, oh she's on
21:18
Speaker 6: the money's there. We have our money wins and confessions.
21:21
Speaker 6: Thread Also, don't be too harsh on yourself when you
21:24
Speaker 6: don't achieve something, like even if it was little and
21:27
Speaker 6: you're like, far, I can't even achieve that, that's fine.
21:29
Speaker 2: Let's talk about it. Post it in the group. What
21:31
Speaker 2: went wrong?
21:32
Speaker 6: How can I help you reframe that so that one
21:35
Speaker 6: you see it as a learning instead of something that
21:37
Speaker 6: was really awful that happened to you. But two, how
21:39
Speaker 6: do we do it better next time? Is there something
21:41
Speaker 6: else we need to tweak? Like, I promise, we've got.
21:43
Speaker 5: Your back, so does the rest of the community.
21:46
Speaker 6: So does the rest of the community. And then I guess,
21:48
Speaker 6: remember why you're here and why you're doing it. Like
21:51
Speaker 6: we always say on the podcast, when in doubt, zoom out.
21:53
Speaker 6: Sometimes you might be doubting why you're doing little things.
21:56
Speaker 2: Zoom out.
21:57
Speaker 6: You're creating this level of financial literacy for yourself that
22:00
Speaker 6: you have never had. You are teaching yourself this confidence
22:03
Speaker 6: that you have never had. You're teaching yourself these positive
22:06
Speaker 6: habits and behaviors that you've never had, Like, isn't that cool?
22:11
Speaker 6: Let's zoom out and see why we're doing this. It's
22:13
Speaker 6: not just because you want another fifty bucks in your account, Jess,
22:16
Speaker 6: like it is from little things, big things grow.
22:19
Speaker 4: Yeah, And you're doing the groundwork so that the big
22:21
Speaker 4: things that seem so huge now eventually don't seem so big.
22:24
Speaker 2: And it can take time, but I promise it is
22:26
Speaker 2: worth it.
22:27
Speaker 4: Yeah. Absolutely, But before we go, can you tell me
22:29
Speaker 4: is there anything we should be avoiding when we're setting
22:31
Speaker 4: these small money goals?
22:33
Speaker 6: Obviously, positive mindset is everything. If you're going to be
22:36
Speaker 6: negative about it, we're not going to get very far,
22:38
Speaker 6: very quickly.
22:39
Speaker 2: I don't know if you know this quote scal are you?
22:42
Speaker 5: Yeah? Quote Scout Jess.
22:44
Speaker 2: Quote here comparison is the thief of all joy. That's
22:48
Speaker 2: a classic. Yeah, it's a classic quote.
22:50
Speaker 5: It's so true.
22:50
Speaker 2: Though I've never been quoted.
22:52
Speaker 6: I just quote other people, so one day maybe if
22:54
Speaker 6: I stopped stealing everybody else's quotes, I could come up
22:57
Speaker 6: with my own.
22:58
Speaker 2: But it's true, right in every single area.
23:01
Speaker 6: Of our lives, we need to cut out this idea
23:04
Speaker 6: of comparison. So we need to cut out the idea
23:06
Speaker 6: that I would compare myself to your financial goals and
23:10
Speaker 6: vice versa. But when it comes to small things, you
23:12
Speaker 6: shouldn't just be avoiding comparing yourself to each other and
23:15
Speaker 6: your peers and your friends. You should actually be avoiding
23:18
Speaker 6: comparing yourself to pass you. Yeah, because past you they
23:21
Speaker 6: did the best they could, but they might not have
23:23
Speaker 6: been as good at it.
23:25
Speaker 2: Also, they might have been great at it.
23:26
Speaker 6: Like maybe one time you saved for a house and
23:29
Speaker 6: our life has completely changed. Yess, you've got young kids,
23:32
Speaker 6: you're not that on top of finances. Maybe finances used
23:35
Speaker 6: to be really easy, and you're like, I used to
23:37
Speaker 6: be able to do this, Why can't I do it now?
23:40
Speaker 6: Skin ourselves a little bit of grace and understand why
23:42
Speaker 6: that might be the case. As I've said before, life
23:45
Speaker 6: is about seasons, and sometimes we go through easier seasons,
23:48
Speaker 6: sometimes we go through harder seasons, And I think it's
23:50
Speaker 6: really important to just, I guess, look at that, but
23:53
Speaker 6: also not compare a little stuff to our big stuff
23:56
Speaker 6: and go, oh, well, that goal doesn't matter because I
23:58
Speaker 6: want to save for a house. Future if that makes
24:01
Speaker 6: sense totally. I watched a TED talk recently. It was
24:04
Speaker 6: actually a snippet from a TikTok, but it was a
24:06
Speaker 6: TED talk. I feel like I'm really good at TikTok.
24:10
Speaker 6: And the talk was called Weighing Ants.
24:13
Speaker 2: I told you I was going to bring here we go.
24:15
Speaker 5: I was wondering.
24:15
Speaker 6: So there's an educator out there called Mrnaz Bassiri, and
24:19
Speaker 6: they said that we can't take the tiniest wins and
24:22
Speaker 6: accomplishments of our lives and throw them on the scales
24:24
Speaker 6: and expect to see the needle move. But Jess, I
24:28
Speaker 6: told you earlier, ants are really powerful. So ants have
24:32
Speaker 6: been documented here this is now becoming she's on the
24:35
Speaker 6: ant fax instead of she's on the money. But ants
24:38
Speaker 6: have been documented to be able to carry up to
24:40
Speaker 6: twenty times their own body weight. And if a human
24:43
Speaker 6: could lift twenty times their own body weight, Jess, they'd
24:45
Speaker 6: be able to lift like just over two thousand kilograms. Wow,
24:49
Speaker 6: I mean, she's on the ant facts. But also the
24:52
Speaker 6: purpose of that is from little things, big things grow,
24:55
Speaker 6: and those small money wins they become the big money wins,
24:58
Speaker 6: and to me they are so wildly important. And then
25:02
Speaker 6: I guess what you need to really really remember is
25:06
Speaker 6: that small wins are honestly more important in so many
25:09
Speaker 6: ways than the really big ones, like ticking off life milestones.
25:13
Speaker 2: I totally get it.
25:14
Speaker 6: But your beliefs, your values, your behaviors are being reiterated
25:18
Speaker 6: every time you celebrate a small goal, set a small goal,
25:22
Speaker 6: achieve a small goal. Because often just looking at your
25:26
Speaker 6: small wins in a series, often this can only happen
25:29
Speaker 6: in hindsight, like keeping a journal, you can just see
25:31
Speaker 6: how much progress you've made and how much maybe your
25:33
Speaker 6: mindset has changed. And we can do that this year.
25:36
Speaker 6: Like I think that that is so beautiful, and I
25:39
Speaker 6: think being able to seize that opportunity and go, no, I.
25:43
Speaker 2: Can really do this, Like it's a small step in
25:46
Speaker 2: the right direction.
25:47
Speaker 5: Yeah, one hundred percent.
25:48
Speaker 4: I feel like that is really exemplified in on our
25:51
Speaker 4: website on the freebies page, the savings have Oh they're
25:54
Speaker 4: my favorite, They're wonderful, and we have them for one day.
25:57
Speaker 4: We've just redesigned them so they're all in the new branding. Guys,
26:00
Speaker 4: so if you have the old ones, go get the
26:01
Speaker 4: new ones. Yeah, they're in one thousand and twenty thousand
26:05
Speaker 4: dollars increment. And the idea is that you take a
26:07
Speaker 4: said amount of money every week, can you pop it in,
26:10
Speaker 4: So you have fifty two deposits that you make over
26:12
Speaker 4: the course of the year. And those deposits range everywhere
26:14
Speaker 4: from you know, maybe one hundred dollars, some of them
26:15
Speaker 4: are seven dollars.
26:16
Speaker 6: And there's also like a free weeks like you have
26:18
Speaker 6: no cash hole, it's okay with Alex, We've given.
26:20
Speaker 5: You a free pass.
26:21
Speaker 4: Yeah, but it's one of those things where I think
26:23
Speaker 4: people would look at and go seven dollars.
26:25
Speaker 2: That's the point.
26:26
Speaker 4: That's not going to get me to a thousand. But
26:28
Speaker 4: those little things, when you put them all together, they
26:31
Speaker 4: add up to a lot. And like you said, sometimes
26:33
Speaker 4: keeping track of that is such a good way to
26:34
Speaker 4: be able to reflect on all the small things that
26:36
Speaker 4: you've done to put yourself first, which I just think is.
26:38
Speaker 6: I'm as usual Galie though. Like I love a spreadsheet,
26:41
Speaker 6: I love a tracker. I left printing things out and
26:43
Speaker 6: putting them on my walls. I love a vision board.
26:47
Speaker 6: You do too, Like if I can see it, I
26:49
Speaker 6: can believe it. If you can believe it, I can
26:51
Speaker 6: achieve it.
26:51
Speaker 2: Oh, I'm going to see myself. Well, I'm going to
26:54
Speaker 2: see myself that it's.
26:55
Speaker 5: Enough for today.
26:56
Speaker 2: I think, you know what, we could even cut that
26:58
Speaker 2: one out. That's fine.
26:59
Speaker 6: I just know that our produce aren't though. They're like
27:01
Speaker 6: she's straight under the bus. If she thought she was
27:03
Speaker 6: having a good year this year, she is not. But
27:05
Speaker 6: I feel like this has been a fun EPP. Thank
27:07
Speaker 6: you for joining me. I love a little Wednesday EP.
27:10
Speaker 2: But also I feel like it's been a good one.
27:12
Speaker 6: Get ourselves back on track and start smashing goals that
27:15
Speaker 6: could be back on Friday.
27:16
Speaker 2: Don't you worry, and we'll see you then.
27:18
Speaker 7: Guys, have the best week bie. The advice shared on
27:27
Speaker 7: She's on the Money is general in nature and does
27:29
Speaker 7: not consider your individual circumstances.
27:32
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27:34
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27:37
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Speaker 2: If you do choose to buy a financial product.
27:42
Speaker 7: Read the PDS TMD and obtain appropriate financial advice tailored
27:46
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27:49
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