Latest / Hurdle with Emily Abbate / #HURDLEMOMENT: Essential Financial Tips For 2023 With 'The Budget Mom' Kumiko Love

Transcript

#HURDLEMOMENT: Essential Financial Tips For 2023 With 'The Budget Mom' Kumiko Love · Hurdle with Emily Abbate

• 0:00
  Speaker 1: Let's make this the year that we finally start asking
• 0:04
  Speaker 1: those hard questions about ourselves. What we are truly trying
• 0:08
  Speaker 1: to accomplish with our money, Why we spend the money
• 0:11
  Speaker 1: that we do, Why do we go into debt in
• 0:14
  Speaker 1: the first place, Not just paying off debt, but understanding
• 0:18
  Speaker 1: these deeper things that are happening inside of ourselves with
• 0:21
  Speaker 1: their emotions, but not only that, giving ourselves permission to
• 0:25
  Speaker 1: answer honestly.
• 0:41
  Speaker 2: Hey, everybody, Emily Abadi here. You are listening to Hurdle,
• 0:44
  Speaker 2: a wellness focused podcast. Reconnect with everyone from your favorite athletes,
• 0:48
  Speaker 2: top experts, and industry CEOs about their highest hies, toughest
• 0:52
  Speaker 2: moments and everything in between. We all go through hurdles
• 0:56
  Speaker 2: in life, and my goal through these discussions is to
• 0:58
  Speaker 2: empower you to better nowavigate yours and move with intention
• 1:02
  Speaker 2: so that you can stride towards your own big potential
• 1:05
  Speaker 2: and of course have some fun along the way. For
• 1:09
  Speaker 2: today's installment of Hurdle Moment, I am bringing back a
• 1:13
  Speaker 2: really powerful conversation I had at the top of twenty
• 1:16
  Speaker 2: twenty two with Comico Love. You may recognize her because
• 1:21
  Speaker 2: you follow her on social One of her millions of
• 1:23
  Speaker 2: followers over at the budget mom or perhaps you're just
• 1:27
  Speaker 2: a dedicated to hurdler. Because Comiko has been on the
• 1:30
  Speaker 2: show before, the last time she came on, we talked
• 1:33
  Speaker 2: all about financial wellness and.
• 1:35
  Speaker 3: We're back to do it together again.
• 1:37
  Speaker 2: Not only is Comiko a financial expert, she is also
• 1:42
  Speaker 2: a published author of the book My Money, My Way,
• 1:46
  Speaker 2: and that is exactly what we're talking about in today's episode,
• 1:50
  Speaker 2: how to be Smarter with your Money in twenty twenty three.
• 1:54
  Speaker 2: Like a lot of the gosh difficulties that we go through, right,
• 1:58
  Speaker 2: nothing can be done until you ad it to yourself
• 2:01
  Speaker 2: where you're at. Maybe you are navigating debt, maybe you
• 2:04
  Speaker 2: want to get into investing, Maybe you want to be
• 2:07
  Speaker 2: better about saving, maybe you want to be better at
• 2:09
  Speaker 2: spending only cash. I mean, god, the financial goals, they
• 2:13
  Speaker 2: are abundant. But Komiko says in today's episode that when
• 2:16
  Speaker 2: you recognize where you're at, then you can really focus
• 2:19
  Speaker 2: on where you want to go. We talk about her
• 2:21
  Speaker 2: best practice tips for everything from investing to budgeting. I
• 2:27
  Speaker 2: just was sitting here behind the microphone listening to her
• 2:31
  Speaker 2: at moments, being like, you are such a wealth of knowledge,
• 2:34
  Speaker 2: and I just felt excited, invigorated to bring it to
• 2:38
  Speaker 2: all of you, So grateful for Kmiko's time again, excited
• 2:41
  Speaker 2: for her new book.
• 2:42
  Speaker 3: My Money, My Way.
• 2:44
  Speaker 2: I will make sure to link to that in the
• 2:45
  Speaker 2: show notes and let me know if you love this
• 2:48
  Speaker 2: kind of content. I'm always thinking about different aspects of wellness,
• 2:51
  Speaker 2: ones that you may not focus on so much.
• 2:54
  Speaker 3: Here in the feed I want to be bringing you.
• 2:56
  Speaker 2: The stuff that you find helpful, the stuff that you
• 2:58
  Speaker 2: really enjoy, So make sure to tag the show over
• 3:00
  Speaker 2: on social with that feedback. It's over at Hurdle podcast.
• 3:03
  Speaker 2: I am over at Emily a Body, and I do
• 3:07
  Speaker 2: want to say a huge thank you to everyone who
• 3:08
  Speaker 2: has taken the time to or view the show over
• 3:11
  Speaker 2: in Apple Podcasts or whatever you get your podcasts. I've
• 3:14
  Speaker 2: been seeing a lot of good stuff in there lately.
• 3:16
  Speaker 2: Give it five stars. Show the world you love your
• 3:19
  Speaker 2: appreciation for being a hurdler. It means the world and
• 3:23
  Speaker 2: I yeah, that's it, just a little love letter from
• 3:26
  Speaker 2: me to you.
• 3:27
  Speaker 3: That's it for now. With that, let's get to hurdling today.
• 3:41
  Speaker 2: I am sitting down with Kamiko Love. She is a
• 3:44
  Speaker 2: friend of the pod that are known to so many
• 3:47
  Speaker 2: as the budget, Mom.
• 3:48
  Speaker 3: How you doing today?
• 3:49
  Speaker 1: Good?
• 3:50
  Speaker 2: Doing good, doing good. I am amped to bring you
• 3:54
  Speaker 2: back for a few reasons. The first reason, the first
• 3:56
  Speaker 2: time you were on the show, I got so much
• 3:58
  Speaker 2: great feedback, really appreciated all the tips that you had
• 4:02
  Speaker 2: to give us about financial wellness. I'll make sure to
• 4:04
  Speaker 2: link to that episode here in the show notes. But
• 4:07
  Speaker 2: also to celebrate the fact that you are a published author.
• 4:12
  Speaker 2: My Money, My Way. How are you feeling? Give us
• 4:16
  Speaker 2: the lowdown.
• 4:18
  Speaker 1: Well, it's overwhelming, for sure, and it's it's funny because
• 4:22
  Speaker 1: I never believed in a million years that I would
• 4:25
  Speaker 1: ever write a book. So funny fact about me, I
• 4:28
  Speaker 1: actually don't enjoy writing. I you know, it's a I've
• 4:33
  Speaker 1: never been a great writer. I've always been able to
• 4:37
  Speaker 1: I'm much more of a speaker. Yeah, so when I like,
• 4:40
  Speaker 1: I'm able to portray the emotion that I really want
• 4:43
  Speaker 1: to connect with people through speaking rather than writing. So
• 4:46
  Speaker 1: that definitely was a challenge. But I am so excited
• 4:49
  Speaker 1: that it's finally here, it's done. And you know, writing
• 4:52
  Speaker 1: a book is a big process. It's it takes a
• 4:54
  Speaker 1: really long time, and it's definitely something one of the
• 4:57
  Speaker 1: hardest things I've ever done. But I'm so glad we
• 5:02
  Speaker 1: did it, and I decided to do it because this
• 5:04
  Speaker 1: is ultimately for you know, changing lives, and that was
• 5:07
  Speaker 1: really the mission of the book. So I'm I'm just
• 5:10
  Speaker 1: overwhelmed and excited.
• 5:11
  Speaker 3: Wow.
• 5:12
  Speaker 2: So you say it takes a long time for you,
• 5:13
  Speaker 2: When did you start this whole process?
• 5:16
  Speaker 1: So we started about a year and a half ago. Really, Yes,
• 5:20
  Speaker 1: it was La Litla after the pandemic, when that really
• 5:23
  Speaker 1: started firing up and we were going into our first lockdown.
• 5:27
  Speaker 1: And you know, for years, my community has been asking
• 5:30
  Speaker 1: for a book, Miko, please put you know, all of
• 5:33
  Speaker 1: this information that you've been giving us the last six years,
• 5:35
  Speaker 1: like in one place, put it in one place where
• 5:38
  Speaker 1: I can I can find it. So but you know,
• 5:40
  Speaker 1: after so many years of doing this, you know, I
• 5:43
  Speaker 1: started back in twenty sixteen with the budget mom and
• 5:45
  Speaker 1: kind of sharing my journey, and so the content was
• 5:48
  Speaker 1: kind of sporadically all over the place. And but what
• 5:51
  Speaker 1: I realized too is that, gosh, there was so much
• 5:54
  Speaker 1: more I wanted to say where I felt like I
• 5:57
  Speaker 1: needed to say things that I haven't really had the
• 6:00
  Speaker 1: chance to really go into deep detail on. And so
• 6:03
  Speaker 1: this book was my perfect opportunity to do that for you.
• 6:07
  Speaker 2: When you say I had so much more to say,
• 6:09
  Speaker 2: do you feel like it was almost bringing you into
• 6:12
  Speaker 2: the things that you talk about a little bit more
• 6:14
  Speaker 2: like providing a little bit more personal context, shedding some
• 6:18
  Speaker 2: light on why these things matter so much to you.
• 6:21
  Speaker 2: Because I would assume that you know a lot of
• 6:23
  Speaker 2: people love your content because it is so digestible and
• 6:27
  Speaker 2: easy to understand. It really breaks down a lot of
• 6:30
  Speaker 2: things in a way that maybe they weren't thinking of
• 6:32
  Speaker 2: it beforehand.
• 6:33
  Speaker 1: Yes, absolutely, one hundred percent. I this this writing this
• 6:37
  Speaker 1: book was a self discovery journey on its own, for sure,
• 6:42
  Speaker 1: you know, and I really struggled for many I guess
• 6:44
  Speaker 1: it helps really solidify what you are trying to say
• 6:48
  Speaker 1: in a very clear way. Right. For example, I've been
• 6:51
  Speaker 1: working on my financial journey for ten years and I
• 6:54
  Speaker 1: discovered something this state of being, this state of feeling,
• 6:58
  Speaker 1: and for so long I had a hard time figuring
• 7:02
  Speaker 1: out what exactly do you call this? How do you
• 7:05
  Speaker 1: define what I have found in my life? How do
• 7:09
  Speaker 1: you even go about explaining this and defining it? So
• 7:13
  Speaker 1: I really had to do this kind of self discovery
• 7:16
  Speaker 1: and really get concise and specific about what I have
• 7:21
  Speaker 1: found in my own life and what I hope other
• 7:23
  Speaker 1: people find in their is after reading this book.
• 7:26
  Speaker 2: Money is such an emotional thing, right, like your feelings
• 7:29
  Speaker 2: around money, how we feel when we have it, how
• 7:31
  Speaker 2: we feel when we don't have it, how we feel
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  Speaker 2: when we're worried about losing it. So many different, you know,
• 7:37
  Speaker 2: strong feelings tied to money and how we earn it
• 7:41
  Speaker 2: and what we do with it and et cetera. So
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  Speaker 2: I can totally relate to that, and it's interesting that
• 7:45
  Speaker 2: idea of I don't know what to call this stage
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  Speaker 2: when you get to a place where your financial health
• 7:50
  Speaker 2: is just exactly where you hope for it to be,
• 7:52
  Speaker 2: if not exceeding your expectations, I feel like the word
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  Speaker 2: I would use to describe that is really just freedom.
• 8:00
  Speaker 1: Yeah, you know, it's funny because we thought about using freedom,
• 8:03
  Speaker 1: but for me, it was like, it's not just freedom,
• 8:07
  Speaker 1: it was this peace of mind is what kept popping
• 8:11
  Speaker 1: up in my mind. Peace of mind, especially as a
• 8:15
  Speaker 1: single mom, something that I have been searching for for
• 8:18
  Speaker 1: so long. But then I realize that it's all encompassing
• 8:24
  Speaker 1: in all aspect and areas of my life. From the
• 8:27
  Speaker 1: relationships that I have to the decisions that I'm making
• 8:31
  Speaker 1: on a daily basis, to the perspective and the way
• 8:33
  Speaker 1: that I see things, to the change and the value
• 8:36
  Speaker 1: and how I value things in my life. It trickles
• 8:39
  Speaker 1: into every aspect of your life. So it's not just
• 8:43
  Speaker 1: financial freedom. I really call it financial fulfillment. And that's
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  Speaker 1: what we called it in the book, and that is
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  Speaker 1: the end goal for every reader to accomplish and discover
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  Speaker 1: for themselves.
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  Speaker 3: Love that financial fulfillment. On finding financial fulfillment, Oh, it
• 9:00
  Speaker 3: makes it gives me the chills. It it makes me
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  Speaker 3: want to find it.
• 9:02
  Speaker 2: So on that topic, that's exactly what we're here to
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  Speaker 2: talk about today. Here we are January twenty twenty two,
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  Speaker 2: and we are thinking about, maybe in a way that
• 9:12
  Speaker 2: we haven't thought in some time, about priorities and budgeting
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  Speaker 2: and our finances.
• 9:19
  Speaker 3: And this is obviously exactly where you come in.
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  Speaker 2: So I would love if we could unpack a few
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  Speaker 2: of your top tips and tricks for someone that is
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  Speaker 2: really looking to find that fulfillment in the new year.
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  Speaker 3: Where do we even begin?
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  Speaker 1: So first we have to realize, you know, when most people,
• 9:37
  Speaker 1: especially on starting a new year, we get all hyped
• 9:40
  Speaker 1: and excited about finally making progress with our financial goals
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  Speaker 1: and making all these these shifts and these tweaks and
• 9:45
  Speaker 1: these changes in our lives to do better with our money.
• 9:48
  Speaker 1: But what we really need to understand from the get
• 9:51
  Speaker 1: go is one, this is not an overnight fix. This
• 9:54
  Speaker 1: is a transformation, and that transformation starts and really begins
• 10:01
  Speaker 1: with understanding yourself. A lot of time, we start this
• 10:06
  Speaker 1: new year saying I want to save five thousand dollars
• 10:09
  Speaker 1: or I want to pay off all of my debt. Right,
• 10:13
  Speaker 1: But that's the thing, those are only the end goals.
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  Speaker 1: Lasting financial change in your life does not start or
• 10:22
  Speaker 1: end with hitting a specific goal. It happens when we
• 10:26
  Speaker 1: can manage our finances well even after we have hit
• 10:31
  Speaker 1: our goal. And the only way to do that is
• 10:35
  Speaker 1: I am encouraging everybody, especially if we're going you know,
• 10:38
  Speaker 1: we're talking about new year changes with our finances. Instead
• 10:42
  Speaker 1: of looking at as wanting to do better with our finances,
• 10:47
  Speaker 1: Let's start it off as a journey of discovering more
• 10:51
  Speaker 1: about ourselves. Let's make this the year that we finally
• 10:55
  Speaker 1: start asking those hard questions about learning about ourselves. What
• 11:01
  Speaker 1: we are truly trying to accomplish with our money. Why
• 11:05
  Speaker 1: we spend the money that we do, Why do we
• 11:07
  Speaker 1: go into debt in the first place, not just paying
• 11:10
  Speaker 1: off debt, but understanding these deeper things that are happening
• 11:14
  Speaker 1: inside of ourselves with their emotions, but not only that,
• 11:18
  Speaker 1: giving ourselves permission to answer honestly, right I ask. It's
• 11:23
  Speaker 1: so funny because during this whole new year, knew you,
• 11:26
  Speaker 1: which I really hate that saying, but I always say,
• 11:29
  Speaker 1: new year, better you. It's not a new you, right,
• 11:32
  Speaker 1: We're just improving and growing from the individuals that we
• 11:36
  Speaker 1: were last year, right, which is such an important part
• 11:39
  Speaker 1: of our story. We are not new you starting over.
• 11:43
  Speaker 1: We are, in fact using what we have learned in
• 11:45
  Speaker 1: the past to be better anyway. So that's my little
• 11:48
  Speaker 1: take on the whole New Year, New you. But really
• 11:52
  Speaker 1: it comes down to making this the year that you
• 11:55
  Speaker 1: discover and truly know who you are and answering that question,
• 12:00
  Speaker 1: what the heck are you trying to accomplish with your money?
• 12:04
  Speaker 2: No, I mean, that's an excellent question, and it's so
• 12:06
  Speaker 2: interesting hearing you talk about the emotions that go hand
• 12:09
  Speaker 2: in hand with finances because it rings true, also making
• 12:14
  Speaker 2: me think about perhaps the emotions that go hand in
• 12:16
  Speaker 2: hand with why we act a certain way, why we
• 12:19
  Speaker 2: eat certain things. I mean, come on emotional eating and
• 12:22
  Speaker 2: emotional spending to like very frequent and like.
• 12:26
  Speaker 3: Popular topics of discussion.
• 12:28
  Speaker 2: Here something that I can certainly relate with and something
• 12:31
  Speaker 2: that you really do need to do a little bit
• 12:33
  Speaker 2: of a work to uncover to understand why you do
• 12:36
  Speaker 2: both things. What is going on in my life when
• 12:39
  Speaker 2: I walk over to the fridge. For me, I've literally
• 12:42
  Speaker 2: realized that every single time I sit down at my
• 12:45
  Speaker 2: desk and I'm about to start like a really big project,
• 12:48
  Speaker 2: I have a gut instinct to at first before I start,
• 12:51
  Speaker 2: get up, walk to the fridge and like do a
• 12:53
  Speaker 2: little investigation.
• 12:55
  Speaker 3: Right.
• 12:55
  Speaker 1: So, yeah, you know I call this hard, the hard
• 12:58
  Speaker 1: work of financial change. You know, this is beyond just
• 13:02
  Speaker 1: the surface level solutions that we are all searching for.
• 13:06
  Speaker 1: This is the actual deep crap that will actually cause
• 13:09
  Speaker 1: lasting change in your life. And that's really what we're
• 13:12
  Speaker 1: trying to accomplish. I know a lot of us say
• 13:14
  Speaker 1: it's to invest, is to pay off debts, to save,
• 13:17
  Speaker 1: but really we're all looking for something deeper, right, And
• 13:21
  Speaker 1: I really do feel that to get to financial fulfillment.
• 13:25
  Speaker 1: You need to first and foremost understand yourself, because let's
• 13:29
  Speaker 1: be honest, this journey starts with you. It starts with you,
• 13:33
  Speaker 1: not your money, not the numbers, not your debt, not
• 13:36
  Speaker 1: your income. It starts with you. That's where the change
• 13:40
  Speaker 1: starts and really happens. And so I think that if
• 13:43
  Speaker 1: we can change this, shift this conversation from I just
• 13:47
  Speaker 1: want to accomplish paying off my debt, or I just
• 13:49
  Speaker 1: want to save this much money, or I want to
• 13:51
  Speaker 1: invest this instead, make it the year of really discovering
• 13:54
  Speaker 1: who you are. It's funny I ask a lot of
• 13:56
  Speaker 1: people who are just starting this journey like and going
• 13:59
  Speaker 1: into your you know what makes you happy? What brings
• 14:03
  Speaker 1: value to your life? And for so many people, they hesitate.
• 14:08
  Speaker 1: They can't even truly answer that question. What makes you happy?
• 14:15
  Speaker 1: What brings value to your life? And what are you
• 14:17
  Speaker 1: truly trying to accomplish with your money. Some people even
• 14:20
  Speaker 1: get afraid to say what they truly want out loud
• 14:25
  Speaker 1: because it doesn't fit the mold that we have been
• 14:28
  Speaker 1: given that define success and value for everybody else in
• 14:32
  Speaker 1: ourselves right it kind of been so they get they
• 14:35
  Speaker 1: start to doubt themselves, like am I really supposed to
• 14:38
  Speaker 1: want that? Like, is that something that I Is it
• 14:41
  Speaker 1: okay to dream that day? Or is it okay? You know,
• 14:43
  Speaker 1: they start to doubt themselves. But I'm telling you, once
• 14:47
  Speaker 1: you understand yourself and find financial fulfillment, it won't matter.
• 14:51
  Speaker 2: The first step here acknowledging where you're at, being honest
• 14:55
  Speaker 2: with yourself about what's actually happening, so that you can
• 14:58
  Speaker 2: get or better understand of the current situation and figure
• 15:02
  Speaker 2: out and better articulate where you want to go. What's
• 15:05
  Speaker 2: the next step that you would recommend to someone on
• 15:08
  Speaker 2: their journey for financial fulfillment.
• 15:11
  Speaker 1: Sonny to ask themselves why are they on this journey
• 15:13
  Speaker 1: in the first place? And I call this finding your
• 15:17
  Speaker 1: why or your purpose? Now, this is this is something
• 15:20
  Speaker 1: you know. I think everyone kind of gets to this
• 15:22
  Speaker 1: point in their life where it's like that initial push
• 15:25
  Speaker 1: to cause and spur change, you know, whether some people
• 15:28
  Speaker 1: call this rock bottom, you know, getting maybe your car repossessed,
• 15:31
  Speaker 1: or getting into so much credit card debt where you're
• 15:33
  Speaker 1: having a hard time paying the bills. It's getting to
• 15:36
  Speaker 1: this point in your life where you're like, I don't
• 15:39
  Speaker 1: want to live this way anymore. I deserve something better.
• 15:44
  Speaker 1: I want something more, and so really that initial push
• 15:48
  Speaker 1: and spur for change in our lives with our finances
• 15:51
  Speaker 1: is what I call finding your why Why the heck
• 15:54
  Speaker 1: are you doing this? For instance, why is people here
• 15:57
  Speaker 1: listening to this podcast? There's a reason, right, We need
• 16:00
  Speaker 1: to identify that reason. The next step everyone needs to
• 16:03
  Speaker 1: do is bring awareness into their lives. You cannot change
• 16:07
  Speaker 1: what you do not know. Period. I know there are
• 16:10
  Speaker 1: a lot of people out there that say, oh, tracking
• 16:12
  Speaker 1: you're spending is a waste of time. It actually works
• 16:15
  Speaker 1: against you because you're spending too much time tracking and
• 16:18
  Speaker 1: not enough time doing the actual work. I think it's
• 16:20
  Speaker 1: all bull crap. You need to track your spending period.
• 16:24
  Speaker 1: It takes work, yes, it takes time, yes, But that
• 16:28
  Speaker 1: time and effort and work is worth it because until
• 16:32
  Speaker 1: you know your starting place, you can't have change because
• 16:36
  Speaker 1: you can't change what you don't know. The next thing
• 16:38
  Speaker 1: I really tell people that next step is awareness. As
• 16:43
  Speaker 1: scary as it might be sometimes and we may not
• 16:46
  Speaker 1: want to look at it in the face, but we
• 16:48
  Speaker 1: have to. And I'm telling you know, there's a lot
• 16:51
  Speaker 1: of people out there who have anxiety and fear around
• 16:55
  Speaker 1: looking at where their money is really going like I
• 16:57
  Speaker 1: don't want to know, right, But the truth is, I
• 17:01
  Speaker 1: promise you now, when you first initially look at it, yes,
• 17:05
  Speaker 1: you might feel sad, you might feel scared, you might
• 17:08
  Speaker 1: even feel like, geez, I'm never gonna get through this.
• 17:13
  Speaker 1: After a while, that all kind of subsides because finally,
• 17:17
  Speaker 1: for the first time, you understand the mountain you have
• 17:20
  Speaker 1: to climb, and that awareness all of a sudden turns
• 17:24
  Speaker 1: from fear into the excitement of knowing, Okay, this is
• 17:29
  Speaker 1: where I'm starting. But you know what, I know exactly
• 17:32
  Speaker 1: what I have to tackle now. I know exactly what
• 17:34
  Speaker 1: is happening, what's going on. It's always scarier to be
• 17:38
  Speaker 1: in the unknown than it is the known. That's kind
• 17:40
  Speaker 1: of my motto, right, not.
• 17:42
  Speaker 2: Just as you said, articulating the emotions behind what's going on,
• 17:45
  Speaker 2: but then really getting into the nitty gritty of what
• 17:48
  Speaker 2: is actually happening. So we have this person, they are
• 17:52
  Speaker 2: taking ownership. They are like ready to get really uncomfortable.
• 17:56
  Speaker 2: A question that you probably get often, and I know
• 17:59
  Speaker 2: that you have some tools on your website and via
• 18:01
  Speaker 2: your Instagram and your social platforms, is what should I
• 18:04
  Speaker 2: be using.
• 18:05
  Speaker 3: To keep track of all this stuff.
• 18:06
  Speaker 1: Yes, it is a lot, right, it does seem kind
• 18:08
  Speaker 1: I know. I still get people who come to my Instagram.
• 18:11
  Speaker 1: They look in at all this stuff and they're like, oh,
• 18:12
  Speaker 1: this is so overwhelming. It's true. There's a lot of
• 18:16
  Speaker 1: information being thrown at us once we start doing this work,
• 18:21
  Speaker 1: and so you may not think about it this way.
• 18:23
  Speaker 1: But organization and finances go hand in hand. Okay, they
• 18:29
  Speaker 1: go together. A lot of people do not think about
• 18:32
  Speaker 1: organization when they start talking about their finances, but it
• 18:34
  Speaker 1: is pivotal from the workspace that you work in when
• 18:38
  Speaker 1: you're sitting down looking over your budget or working through
• 18:41
  Speaker 1: your financial routine. From the way that we decide to
• 18:44
  Speaker 1: organize this information that we're discovering, our spending, our debt,
• 18:48
  Speaker 1: our savings, are investing. So organization is a huge part. Now.
• 18:53
  Speaker 1: I am a huge believer you have to do what
• 18:56
  Speaker 1: works best for you one hundred percent. This is why
• 18:58
  Speaker 1: my book is called My Money, My Way. Okay, me personally,
• 19:02
  Speaker 1: I track my spending manually. Okay, Like you said, you
• 19:05
  Speaker 1: use a spreadsheet sometimes that's easier for people. For me, though,
• 19:10
  Speaker 1: my spending became very real and very tangible in my
• 19:14
  Speaker 1: life when I could write it down and see it
• 19:16
  Speaker 1: on paper. That was just me. That's how it clicked
• 19:19
  Speaker 1: in my head. So I track all my spending. I
• 19:22
  Speaker 1: spend about five to ten minutes every morning tracking my
• 19:25
  Speaker 1: spending from the day before. I use a printed out
• 19:29
  Speaker 1: expense tracker that is in my budget by Paycheck workbook,
• 19:32
  Speaker 1: and I use the highlighter method. Something that I discovered
• 19:35
  Speaker 1: on my journey is one of the things that you
• 19:37
  Speaker 1: also have to discover for yourself is what kind of
• 19:39
  Speaker 1: learner are you and what are the things that motivate
• 19:44
  Speaker 1: you on your financial journey? And I noticed for me
• 19:49
  Speaker 1: that's visual tools. I am a visual learner. So by
• 19:53
  Speaker 1: writing my expenses out using the highlighter method to highlight
• 19:57
  Speaker 1: all my separate categories for me, that was very therapeutic,
• 20:02
  Speaker 1: but not only that, it helped me visually to really
• 20:05
  Speaker 1: understand the big picture which was happening with my finances
• 20:09
  Speaker 1: and it's very motivating. So that's how I currently do it.
• 20:13
  Speaker 2: Yeah, I mean two things is double click on here.
• 20:15
  Speaker 2: You said the highlighter method. Do you want to talk
• 20:17
  Speaker 2: a little bit about what that is?
• 20:18
  Speaker 1: Yes, So the highlighter method is essentially assigning a different
• 20:23
  Speaker 1: highlighter color for every category in your budget. Okay, this
• 20:28
  Speaker 1: happens during the process of tracking your spending. When you
• 20:32
  Speaker 1: first start, a lot of people see these lists of
• 20:34
  Speaker 1: all this spending, they're like, what do I do with
• 20:36
  Speaker 1: all of this? The first thing is highlighting all the
• 20:40
  Speaker 1: like transactions. We're going through on how to create budget
• 20:44
  Speaker 1: categories in your life. We're getting to how you organize
• 20:47
  Speaker 1: this information. So if you start highlighting, like all your
• 20:51
  Speaker 1: food purchases in blue, all your clothing purchases in pink,
• 20:55
  Speaker 1: all your car and gas purchases in green. Once you
• 20:58
  Speaker 1: start doing this through your spend, all of a sudden,
• 21:01
  Speaker 1: you just organized all of your spending into your own
• 21:04
  Speaker 1: unique budget categories without even.
• 21:06
  Speaker 3: Knowing it right.
• 21:07
  Speaker 1: And then once you have that, you can really tweak
• 21:10
  Speaker 1: and perfect, like maybe I don't want my eating out
• 21:13
  Speaker 1: in my food budget, maybe I need to separate out
• 21:15
  Speaker 1: because that's a problem spending area for me. So you really,
• 21:19
  Speaker 1: it's just a way, a process, a visual process of
• 21:23
  Speaker 1: organizing all of this content.
• 21:26
  Speaker 2: Totally, and I can seriously relate with you on being
• 21:30
  Speaker 2: a visual person. I remember back years and years ago,
• 21:34
  Speaker 2: when I was going through a major weight loss, I
• 21:38
  Speaker 2: hung up a pair of genes that didn't fit just
• 21:41
  Speaker 2: yet on the back of my bathroom door, and I
• 21:45
  Speaker 2: would walk by them all of the time, and for me,
• 21:48
  Speaker 2: seeing those genes there helped me stay motivated and remember
• 21:52
  Speaker 2: why it was that I was getting up early. Aside from,
• 21:56
  Speaker 2: of course so many of the mental benefits that can
• 22:00
  Speaker 2: hand in hand with working out and really working on
• 22:04
  Speaker 2: that inner dialogue and the way that I talk to myself.
• 22:08
  Speaker 2: I would walk by those genes all the time and
• 22:11
  Speaker 2: be like, this is it, Like this is there? They
• 22:13
  Speaker 2: are here, I am here, I go, I can do this.
• 22:16
  Speaker 3: I've got this.
• 22:17
  Speaker 2: So many of these emotions that go hand in hand
• 22:20
  Speaker 2: with finances, I think we can all really relate to
• 22:24
  Speaker 2: definitely circulate in other areas of our lives.
• 22:27
  Speaker 1: Yeah, exactly. It's a constant reminder of what you are
• 22:30
  Speaker 1: fighting for, right And that's what the visual like the
• 22:34
  Speaker 1: visual trackers and the visual tools I use in my finances,
• 22:37
  Speaker 1: That's exactly what it is. It's a daily reminder of
• 22:41
  Speaker 1: I am fighting for a life with my son where
• 22:45
  Speaker 1: I can seize opportunities without relying on debt. That is
• 22:50
  Speaker 1: my why.
• 22:51
  Speaker 2: I was going to say, so that's like your mission statement,
• 22:54
  Speaker 2: Like that is why you do all of these things.
• 22:56
  Speaker 1: Everything I do every single day is for my child
• 23:02
  Speaker 1: and the life that I want to live with him.
• 23:05
  Speaker 1: Because you know, one of the things I talk about
• 23:07
  Speaker 1: in the book is kind of my financial philosophy of
• 23:10
  Speaker 1: truly finding this balance between living your life now while
• 23:15
  Speaker 1: still taking care of your your future self and your
• 23:18
  Speaker 1: goals that you're wanting to accomplish. Right, it's really we
• 23:20
  Speaker 1: get to there's a big debate out there, you know,
• 23:22
  Speaker 1: do you live your life now because life is short,
• 23:26
  Speaker 1: or do you, you know, make sure that you can
• 23:28
  Speaker 1: have everything you want in retirement. Right, It's not an
• 23:31
  Speaker 1: either or you can do both. And I am a
• 23:36
  Speaker 1: big believer that life is too short. I have been
• 23:38
  Speaker 1: blessed with one life with my child. One that's all
• 23:43
  Speaker 1: I get. I will never get these moments back. My
• 23:47
  Speaker 1: son will never be nigh again. This is my time
• 23:50
  Speaker 1: now to live this life that I want to with him.
• 23:54
  Speaker 1: This is what I'm fighting for. You know, this is
• 23:57
  Speaker 1: the emotional connection that you you need to find with
• 24:01
  Speaker 1: your purpose to really create that motivation and self discipline
• 24:05
  Speaker 1: in your life to get there.
• 24:11
  Speaker 2: Taking a break from today's episode to talk to you
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  Speaker 2: free shipping on your order today. Do you have any
• 25:59
  Speaker 2: advice or recommendations for someone who wants to work on
• 26:03
  Speaker 2: creating their own personal financial statement?
• 26:06
  Speaker 1: Absolutely make sure that it's something that you can visualize. Okay,
• 26:11
  Speaker 1: so this is something where you need to attach a picture.
• 26:14
  Speaker 1: I think it's really a lot easier when we can
• 26:18
  Speaker 1: visualize where we are trying to go assign a picture
• 26:21
  Speaker 1: to that we can we can hear it, we can
• 26:24
  Speaker 1: feel it, we can see it. Right, It's all encompassing.
• 26:28
  Speaker 1: The next thing is really asking yourself to make it specific.
• 26:33
  Speaker 1: So when I first started my journey, my why was
• 26:37
  Speaker 1: to pay off debt. Well, then I had to ask
• 26:40
  Speaker 1: myself why do I want to pay off debt? And
• 26:44
  Speaker 1: that not only that, I had to ask myself, Okay,
• 26:47
  Speaker 1: if I pay off my debt, what does this mean
• 26:50
  Speaker 1: for me? Here? Am I? What am I truly trying
• 26:52
  Speaker 1: to get at so I had to ask well, why, well,
• 26:56
  Speaker 1: why over and over and over again till I kind
• 26:59
  Speaker 1: of hone down And this really is specific, like the
• 27:02
  Speaker 1: deep route of why. I was trying to accomplish what
• 27:05
  Speaker 1: I wanted right and so over time, over years, my purpose,
• 27:10
  Speaker 1: this mission statement kind of changed and evolved into something
• 27:14
  Speaker 1: a lot bigger than myself. Your mission statement, your when
• 27:20
  Speaker 1: I call it, your why, should be something that is
• 27:24
  Speaker 1: so important to you you get emotional speaking about it.
• 27:29
  Speaker 1: I know a lot of people are afraid to bring
• 27:31
  Speaker 1: emotions into finances because they believe that ultimately it can
• 27:35
  Speaker 1: hurt you rather than help you. But that's only if
• 27:37
  Speaker 1: your emotions control you. What happens when we can control
• 27:43
  Speaker 1: our emotions and use them to our advantage. I cannot
• 27:47
  Speaker 1: tell you how powerful it is to feel something so
• 27:52
  Speaker 1: deeply for wanting a change in your life and fighting
• 27:56
  Speaker 1: for something that's so much bigger than yourself. How powerful
• 28:00
  Speaker 1: that is. And so it needs to be visual, it
• 28:04
  Speaker 1: needs to be specific, and you need to keep asking
• 28:07
  Speaker 1: the question, well, why well, why don't just start and
• 28:12
  Speaker 1: keep at that surface level goal? Because your mission statement
• 28:16
  Speaker 1: is not a goal. This is not a goal, Okay,
• 28:20
  Speaker 1: it's more of a state of living, a state of being.
• 28:25
  Speaker 1: It's something deeper, something bigger, and so there is no
• 28:29
  Speaker 1: there's like no finish line. Like a goal has a
• 28:32
  Speaker 1: finish line. Once you reach it, you hit that goal, right,
• 28:35
  Speaker 1: not with your why, not with your mission statement. It's
• 28:37
  Speaker 1: something that lives on forever. It's something that you're constantly
• 28:41
  Speaker 1: trying to work and be better at and fight for.
• 28:44
  Speaker 1: And that's why in the end of the book, I
• 28:48
  Speaker 1: talk about how there is no finish line with our
• 28:50
  Speaker 1: finances at the end of twenty twenty two. Right, It's
• 28:56
  Speaker 1: not like you're finally going to get there and be like, oh,
• 28:58
  Speaker 1: I'm done, I made it. It's finally over now all
• 29:02
  Speaker 1: my dreams come true. I'm sorry, but that's not how
• 29:05
  Speaker 1: it works. If money is in your life, if you
• 29:07
  Speaker 1: are getting it, if you are spending it, if you
• 29:09
  Speaker 1: are managing it, there is no finish line here. It's
• 29:13
  Speaker 1: all about growing and motivating and tweaking. And like I said,
• 29:18
  Speaker 1: this is a transformation, a self discovery of transformation that
• 29:23
  Speaker 1: transforms the rest.
• 29:24
  Speaker 3: Of our lives. I am hyped right now.
• 29:27
  Speaker 2: I just mentally drafted up the email where I follow
• 29:31
  Speaker 2: up with you and your team after we get off
• 29:32
  Speaker 2: of this and think about like how we should be
• 29:35
  Speaker 2: doing this every other month, and like what we need.
• 29:37
  Speaker 3: To focus on.
• 29:38
  Speaker 2: And I'm just I am lit because it's so right,
• 29:41
  Speaker 2: and I mean, your passion is so clear and so
• 29:45
  Speaker 2: vibrant and so wonderful, and it's so exciting to speak
• 29:50
  Speaker 2: with someone who truly feels as though they are acting
• 29:55
  Speaker 2: in purpose on purpose, and to hear you speak about
• 30:00
  Speaker 2: the evolution of defining your why. That is truly something
• 30:04
  Speaker 2: that so many people that are listening to this right
• 30:07
  Speaker 2: now can really really relate to. And it's really special.
• 30:11
  Speaker 1: It's unfortunate because oftentimes it's a step that a lot
• 30:14
  Speaker 1: of people skip right a lot. I mean, we go,
• 30:17
  Speaker 1: we dive, we start diving right into the numbers, right,
• 30:20
  Speaker 1: we start diving into the spreadsheets, writing numbers down on
• 30:22
  Speaker 1: a piece of paper, of trying to figure out our budgets,
• 30:24
  Speaker 1: and we skip the most important step, and that is
• 30:28
  Speaker 1: truly discovering your purpose. And that is what's going to
• 30:32
  Speaker 1: motivate you, which is then going to lead to the
• 30:34
  Speaker 1: self discipline you need to get where you want to go.
• 30:37
  Speaker 2: Well, it's also you know, whenever you set a new
• 30:39
  Speaker 2: goal or say that you want to do something if
• 30:41
  Speaker 2: you don't take that inventory to ask yourself, like, why
• 30:44
  Speaker 2: is this specific thing important to me? Because in today's
• 30:48
  Speaker 2: society where it is so easy to pick up your
• 30:51
  Speaker 2: phone and scroll and within second see someone that's doing
• 30:54
  Speaker 2: something that looks really cool, and then all of a
• 30:56
  Speaker 2: sudden you're like, maybe I should be doing this cool thing.
• 30:58
  Speaker 2: And then you start looking into how you should be
• 31:00
  Speaker 2: doing this cool thing without stopping and taking a pose
• 31:04
  Speaker 2: check and.
• 31:04
  Speaker 3: Being like is this something I truly want? Or do
• 31:08
  Speaker 3: I just want it because it looks flashy and shiny
• 31:11
  Speaker 3: on Instagram?
• 31:12
  Speaker 1: Exactly? You know, That's the thing. Until you can create
• 31:15
  Speaker 1: a plan written by you for you, you will always depend
• 31:20
  Speaker 1: on someone else to define value and success in your life.
• 31:24
  Speaker 1: And what that leads to, Oh my gosh, it's a
• 31:27
  Speaker 1: big black hole. You know, you are self comparison. You
• 31:29
  Speaker 1: are doubting yourself. Do I really want this? You know,
• 31:35
  Speaker 1: like you said, like is this really what I truly want?
• 31:39
  Speaker 1: And what I found? For financial fulfillment, there are three
• 31:44
  Speaker 1: things pivotal things, clarity, stability, and confidence. If you can
• 31:54
  Speaker 1: find those three three things in your life, honestly, I
• 31:59
  Speaker 1: truly believe you can find financial fulfillment, and once that happens,
• 32:05
  Speaker 1: it won't matter what anyone else is doing because you
• 32:09
  Speaker 1: have defined success and value for yourself, and all of
• 32:14
  Speaker 1: a sudden, when you look around, you're like, well, dang,
• 32:17
  Speaker 1: I'm not saving that much money, or I'm not paying
• 32:20
  Speaker 1: off that much debt. I'm never gonna get there. I
• 32:23
  Speaker 1: don't make as much as them. All of a sudden,
• 32:25
  Speaker 1: it won't matter because you have defined success for yourself.
• 32:30
  Speaker 1: And I think that's it's really easy. You know, when
• 32:33
  Speaker 1: I first started this journey, it's really easy to get
• 32:36
  Speaker 1: online when you're desperately searching for change, to rely on
• 32:40
  Speaker 1: someone else's method and steps and what they're trying to
• 32:44
  Speaker 1: accomplish and what they say is important for you to
• 32:46
  Speaker 1: accomplish in your life with your finances because we don't
• 32:49
  Speaker 1: really know that next step. We're not really sure what
• 32:53
  Speaker 1: we're supposed to want, right, I'm not really sure what
• 32:57
  Speaker 1: that next step is that we need to take. But
• 33:00
  Speaker 1: I'm telling you, once you go through this book and
• 33:02
  Speaker 1: you work through those steps and you go to the
• 33:04
  Speaker 1: you know and find these three things of financial fulfillment,
• 33:08
  Speaker 1: you'll know. And I think that's really what makes financial
• 33:13
  Speaker 1: fulfillment so different is this confidence knowing in our heart
• 33:19
  Speaker 1: and our gut as individuals that our goals and values
• 33:23
  Speaker 1: are unique. And that's okay, that's what it's supposed to be.
• 33:28
  Speaker 1: You know, when I came out and said I was
• 33:30
  Speaker 1: going to buy my house with cash, I was called
• 33:32
  Speaker 1: every name under the book, dumb, idiot. I shouldn't be
• 33:36
  Speaker 1: a money expert because I'm giving horrible advice. I should
• 33:39
  Speaker 1: be investing the money instead, I'm losing out all this
• 33:42
  Speaker 1: compound interest. But you know what, it didn't matter because
• 33:48
  Speaker 1: I knew in my heart I was making the best
• 33:52
  Speaker 1: financial decision for me and my family and my unique
• 33:55
  Speaker 1: goals and what I was trying to accomplish with my life.
• 33:58
  Speaker 1: Sometimes it it doesn't matter if it makes number sense,
• 34:03
  Speaker 1: you know what I mean. Sometimes it comes down to
• 34:07
  Speaker 1: peace of mind, and that's something we can't put a
• 34:10
  Speaker 1: value on. And that's what I was really fighting with
• 34:14
  Speaker 1: my journey. And so you know, my money, my way
• 34:17
  Speaker 1: is giving yourself permission to say, you know what my wants,
• 34:21
  Speaker 1: values and goals are unique to me, and that's okay,
• 34:25
  Speaker 1: And I'm going to fight like heck to get there.
• 34:27
  Speaker 3: I'm gonna fight like heck to get there.
• 34:29
  Speaker 2: You said a buzzword that I want to touch on
• 34:33
  Speaker 2: before I let you go today, and that buzzword is stability.
• 34:36
  Speaker 2: For many people who are you know, they're in this
• 34:39
  Speaker 2: work now, they've recognized that they are willing to make
• 34:43
  Speaker 2: a change. Maybe they're at the point where they've already
• 34:46
  Speaker 2: articulated their why. They've got the sheets, they've got the highlighters,
• 34:49
  Speaker 2: they're making progress on their journey.
• 34:51
  Speaker 3: They want to think about stability.
• 34:54
  Speaker 2: What do you tell these people in terms of either
• 34:59
  Speaker 2: I would say a budgeting tip or thinking long term
• 35:03
  Speaker 2: about how they can find a little bit of that
• 35:06
  Speaker 2: stability when things do feel a little bit hectic.
• 35:09
  Speaker 1: Absolutely, stability lives outside of just your emergency fund. Okay,
• 35:14
  Speaker 1: I'm going to say that right now. I know a
• 35:16
  Speaker 1: lot of financial experts say your emergency funds all you need,
• 35:20
  Speaker 1: because unexpected things happen, an emergency fund is not enough.
• 35:24
  Speaker 1: And the reason I say that is because it's only
• 35:26
  Speaker 1: one option.
• 35:28
  Speaker 3: Right.
• 35:28
  Speaker 1: What brings stability to our lives? Options? And so I
• 35:34
  Speaker 1: teach people in the book, and I've been teaching it
• 35:35
  Speaker 1: for years, what are some ways that we can create
• 35:39
  Speaker 1: some other options in our lives to take care of
• 35:42
  Speaker 1: expenses or maybe unplanned or unexpected expenses that pop up,
• 35:46
  Speaker 1: because really, that's what gives us the anxiety, right when
• 35:49
  Speaker 1: we can't pay for things, or maybe we lose some income,
• 35:52
  Speaker 1: maybe a spouse loses their job. It's it's how do
• 35:56
  Speaker 1: we create options without being backed into our corner to
• 36:00
  Speaker 1: only use debt or emergency fund to pay for things.
• 36:03
  Speaker 1: It's like creating a miscellaneous category in your budget. This
• 36:08
  Speaker 1: is what I use for unplanned unexpected expenses between my
• 36:11
  Speaker 1: pay periods. Why because sometimes in life, unplanned unexpected expenses
• 36:18
  Speaker 1: pop up that don't fit into the category of using
• 36:21
  Speaker 1: our emergency fund. Right, your emergency fund should be for
• 36:24
  Speaker 1: true emergencies. But that's not real life. Those aren't the
• 36:28
  Speaker 1: only expenses that pop up. Let's be real. You know,
• 36:31
  Speaker 1: a girlfriend calls and says, hey, Miko, I'm in town.
• 36:34
  Speaker 1: I haven't seen you in a year. I'd love to
• 36:35
  Speaker 1: see you. Or it's your child coming to you saying Mom,
• 36:39
  Speaker 1: I forgot to tell you that I have this birthday
• 36:41
  Speaker 1: party tomorrow, or it's your mom saying I'm gonna be
• 36:44
  Speaker 1: in town, I'd love to get together with you all.
• 36:47
  Speaker 3: These or an injury right right right, or.
• 36:50
  Speaker 1: Exactly you know, like real life people, okay, and that
• 36:55
  Speaker 1: lives outside of just our emergency funds. And then so
• 36:58
  Speaker 1: my miscellaneous envelope cash envelope. The category of my budget
• 37:03
  Speaker 1: is an option I created for myself my checking account
• 37:06
  Speaker 1: cushion as an all cash spender. I realize that sometimes
• 37:10
  Speaker 1: I'm going to do online shopping. Hm, I realized that
• 37:14
  Speaker 1: sometimes a bill might be bigger than what I expected
• 37:18
  Speaker 1: it to be, right, So having that cushion in there
• 37:21
  Speaker 1: gives me peace of mind knowing I don't have to
• 37:23
  Speaker 1: worry about overdraft fees, and I have a little bit
• 37:27
  Speaker 1: of a backup cushion to possibly use maybe in an
• 37:32
  Speaker 1: instant or scenario that pops up in my life. This
• 37:35
  Speaker 1: is about ultimately giving ourselves a little bit of wiggle room,
• 37:39
  Speaker 1: because I do realize there are times where we are
• 37:42
  Speaker 1: living on really strict budgets. Right A lot of people
• 37:46
  Speaker 1: are living paycheck to paycheck. So it's looking at our
• 37:49
  Speaker 1: spending and our budget and figuring out, Okay, where do
• 37:52
  Speaker 1: where do I have a little bit of wiggle room
• 37:55
  Speaker 1: where I could create possibly some more options, like sinking funds,
• 37:59
  Speaker 1: saving for a holiday or event. You are constantly pressured
• 38:02
  Speaker 1: to use a credit card there's so many little options
• 38:06
  Speaker 1: that we could create to give us options which then
• 38:08
  Speaker 1: lead to a little bit more stability, taking care and
• 38:12
  Speaker 1: being prepared for the unknown.
• 38:16
  Speaker 3: Yeah.
• 38:16
  Speaker 2: Yeah, And I mean I feel like I learned a
• 38:18
  Speaker 2: lot about that, especially when I went out and started
• 38:23
  Speaker 2: being a contractor or freelancer, being my own boss all
• 38:26
  Speaker 2: the time. One of the biggest, most frequent questions that
• 38:29
  Speaker 2: I get from other individuals who are interested in being
• 38:32
  Speaker 2: an entrepreneur and going out on their own is were
• 38:35
  Speaker 2: you anxious about the lack of stability? And the answer
• 38:38
  Speaker 2: to that question is, of course yes. But when you're
• 38:42
  Speaker 2: going out and being an entrepreneur and trying to find
• 38:45
  Speaker 2: all these new opportunities, is up to you to figure
• 38:47
  Speaker 2: out what that new version of stability looks like. Because
• 38:51
  Speaker 2: stability for Emily when she worked at Conde Nast and
• 38:55
  Speaker 2: someone else was giving her a paycheck every other week
• 38:57
  Speaker 2: was just that it was the paycheck every other week. Now,
• 39:00
  Speaker 2: my stability threshold, or my view on stability, it's a
• 39:04
  Speaker 2: little bit different. But I do have things that I
• 39:06
  Speaker 2: have since put in place since going on on my
• 39:08
  Speaker 2: own that make me know, hey, you're gonna be okay
• 39:12
  Speaker 2: no matter what's going on here, no matter if our
• 39:14
  Speaker 2: relationship shifts off us sponsor doesn't want to be on
• 39:16
  Speaker 2: the show anymore, whatever happens here. You have done so
• 39:19
  Speaker 2: many things X Y Z whatever to set yourself to
• 39:22
  Speaker 2: be okay, for I would love to actually to hear
• 39:25
  Speaker 2: your advice, perhaps for anyone who may be interested in
• 39:28
  Speaker 2: making a similar shift.
• 39:30
  Speaker 1: Yeah. Absolutely, you know, I will be very honest. Leaving
• 39:34
  Speaker 1: my full time job where I spent the last seven
• 39:37
  Speaker 1: years studying and getting designations and getting accreditations and all
• 39:41
  Speaker 1: these things. Leaving all that behind and working for myself
• 39:44
  Speaker 1: was the scariest thing I have ever done. I am
• 39:47
  Speaker 1: not going to lie. It took me a year and
• 39:50
  Speaker 1: a half to finally pull the plug and actually go
• 39:53
  Speaker 1: ahead and go through with it, because it's planning, right, oh, planning. Absolutely.
• 39:59
  Speaker 1: There was a year where I had to for me
• 40:02
  Speaker 1: that stability meant savings, okay. I wanted to have a
• 40:07
  Speaker 1: significant amount saved, because, like you said, when you are
• 40:11
  Speaker 1: an entrepreneur, your income is not guaranteed. Okay, It's not
• 40:15
  Speaker 1: like working at eight to five where you are guaranteed
• 40:17
  Speaker 1: a W two paycheck. And that's what, like you said,
• 40:20
  Speaker 1: gives us that stability. So for me, like you said,
• 40:24
  Speaker 1: I had to shift that and my stability meant now
• 40:27
  Speaker 1: having a savings plan in place in case my business
• 40:32
  Speaker 1: didn't make money. And still to this day that you know,
• 40:38
  Speaker 1: varying income in entrepreneurship is still very real and very scary.
• 40:44
  Speaker 1: But I think I think that because you know, I'm
• 40:46
  Speaker 1: not gonna lie. There are some days where I'm like,
• 40:49
  Speaker 1: what if my business just no longer exists? I think
• 40:53
  Speaker 1: about that all the time, right because my business now
• 40:57
  Speaker 1: is not just taking care of me, it's taking care
• 40:59
  Speaker 1: of my care hiddo, And that is what's scary. And
• 41:03
  Speaker 1: so I think that one is planning, making sure that
• 41:08
  Speaker 1: you have a plan in place to maybe take care
• 41:11
  Speaker 1: of some of that fluctuation that you're seeing with income,
• 41:16
  Speaker 1: but not only that. I had to have a very
• 41:19
  Speaker 1: specific business plan in place before I felt comfortable leaving
• 41:23
  Speaker 1: my job. And what that looked like was, you know,
• 41:27
  Speaker 1: understanding my business spending because it is very for me.
• 41:34
  Speaker 1: I felt like it was a little bit different than
• 41:35
  Speaker 1: my personal spending. And so it was learning kind of
• 41:40
  Speaker 1: how to tackle business finances from the very beginning, kind
• 41:45
  Speaker 1: of like relearning. And so I spent a year building
• 41:48
  Speaker 1: this business plan like, these are the expenses I'm willing
• 41:51
  Speaker 1: to accept with the business. This is where our income
• 41:55
  Speaker 1: is coming from. Okay, this is where I'm going to
• 41:57
  Speaker 1: throw this income. Like I had to have like all
• 41:59
  Speaker 1: these buckets, savings, buckets of like hey, this is for
• 42:03
  Speaker 1: product production, this is for you know, marketing, this is
• 42:07
  Speaker 1: for I kind of had to learn all this as
• 42:09
  Speaker 1: I went along. So I think that my number one
• 42:11
  Speaker 1: tip is first to figure out what's happening with your
• 42:16
  Speaker 1: business as far as income and expenses, but then figure
• 42:19
  Speaker 1: out really what's realistic when it comes to leaving your
• 42:24
  Speaker 1: full time job and working for yourself as far as
• 42:27
  Speaker 1: creating that stability in your life. I have a lot
• 42:31
  Speaker 1: of people who jump the gun and they go out
• 42:33
  Speaker 1: and work for themselves and they realize, well, my business
• 42:36
  Speaker 1: just isn't making enough, right, So it's kind of giving
• 42:40
  Speaker 1: yourself time to realistically assess that jump.
• 42:45
  Speaker 2: Yeah, really thinking about it before just going on on
• 42:48
  Speaker 2: a whim. I feel like, you know, there's so many
• 42:50
  Speaker 2: people you will hear that say something like.
• 42:53
  Speaker 3: Just trust your gun, like it'll be fine, and like.
• 42:55
  Speaker 2: I do feel as though, like when you're literally between
• 42:58
  Speaker 2: a rock and a hard place, like more often than
• 43:00
  Speaker 2: not you're going to figure out how to make it fine,
• 43:02
  Speaker 2: but from an emotional POV, from like an anxiety POV.
• 43:08
  Speaker 2: I believe and I was just like you that if
• 43:10
  Speaker 2: you put a certain amount of things in place and
• 43:13
  Speaker 2: really think about where it is that you're going again,
• 43:16
  Speaker 2: going back to that, why then that is the way
• 43:20
  Speaker 2: to set yourself up for success when it comes to
• 43:23
  Speaker 2: perhaps taking that step and going out and going out
• 43:26
  Speaker 2: on your own.
• 43:26
  Speaker 3: Wow, so much good stuff within here.
• 43:28
  Speaker 2: I literally feel like I could just like talk to
• 43:30
  Speaker 2: you for another hour and again this email is already
• 43:32
  Speaker 2: mentally drafted in my mind, so stay tuned for that.
• 43:35
  Speaker 2: But so amped about all these tips, so excited to
• 43:39
  Speaker 2: just connect with you and hear about your passions and
• 43:41
  Speaker 2: everything that you've got going on. Why don't you fill
• 43:44
  Speaker 2: us in one last time here? How do the hurtlers
• 43:47
  Speaker 2: follow along with you? How do they keep up with you?
• 43:49
  Speaker 2: Give me all of your details?
• 43:51
  Speaker 1: Yes? So you can find me every day over on Instagram.
• 43:54
  Speaker 1: This is where I share my real numbers, my real
• 43:57
  Speaker 1: journey at the budget Moll on Instagram. You can also
• 44:00
  Speaker 1: follow us on YouTube, where we have a ton of
• 44:04
  Speaker 1: just in depth video tutorials on walking through my philosophy,
• 44:08
  Speaker 1: my budget by paycheck method, creating a plan of attack
• 44:11
  Speaker 1: for your debt, your savings and investing goals. And then
• 44:14
  Speaker 1: also you can order my new book, My Money, My Way,
• 44:18
  Speaker 1: taking back control of your financial life at the budget
• 44:21
  Speaker 1: moom dot com forward slash My Money.
• 44:24
  Speaker 3: My Way. We love it.
• 44:26
  Speaker 2: I am over at Hurdle Podcasts and at Emilybody Another
• 44:29
  Speaker 2: hurdle conquered.
• 44:31
  Speaker 3: Catch you guys next time.