1
00:00:00,040 --> 00:00:02,360
Speaker 1: Welcome to How the Money. I'm Joel and I and

2
00:00:02,520 --> 00:00:05,800
Speaker 1: that and today we're talking taking back control of your

3
00:00:05,880 --> 00:00:28,800
Speaker 1: financial life with Kumiko Love. So we've had another crazy year,

4
00:00:29,080 --> 00:00:32,159
Speaker 1: one where many folks believed that everything was out of

5
00:00:32,159 --> 00:00:35,280
Speaker 1: their control. Right, whether that was because of school shutdowns

6
00:00:35,479 --> 00:00:38,640
Speaker 1: or rising prices due to inflation. It can be tempting

7
00:00:38,640 --> 00:00:40,839
Speaker 1: to start thinking like, what was me like taking that

8
00:00:40,880 --> 00:00:44,040
Speaker 1: kind of mentality. But our guest today, Kimiko Love, who

9
00:00:44,080 --> 00:00:46,400
Speaker 1: is also known as the Budget Mom, wants you to

10
00:00:46,560 --> 00:00:48,879
Speaker 1: know that you have more control over your life than

11
00:00:48,920 --> 00:00:51,840
Speaker 1: you realize, and her new book, My Money, My Way

12
00:00:52,200 --> 00:00:56,000
Speaker 1: comes out next month, where Kimiko helps readers to just

13
00:00:56,160 --> 00:01:00,240
Speaker 1: identify a uniquely personal plan that you'll stick with which

14
00:01:00,240 --> 00:01:02,560
Speaker 1: will allow you to crush your money goals. For Kimiko,

15
00:01:02,600 --> 00:01:04,560
Speaker 1: one of those goals that she achieved was paying off

16
00:01:04,600 --> 00:01:07,720
Speaker 1: over seventy seven thousand dollars in debt in just eight

17
00:01:07,760 --> 00:01:10,399
Speaker 1: months early on in her financial journey, and she also

18
00:01:10,440 --> 00:01:13,280
Speaker 1: recently bought her dream home with cash, which is an

19
00:01:13,280 --> 00:01:16,840
Speaker 1: amazing accomplishment. We're gonna hear how you can take the

20
00:01:16,880 --> 00:01:20,160
Speaker 1: experience and the principles that Kimiko learned in order for

21
00:01:20,240 --> 00:01:23,880
Speaker 1: you to take back control of your financial life. Kimiko,

22
00:01:23,920 --> 00:01:25,880
Speaker 1: thank you for joining us today on the show. Thank

23
00:01:25,880 --> 00:01:27,880
Speaker 1: you so much for having me. I'm excited to be here.

24
00:01:28,360 --> 00:01:29,920
Speaker 1: We are excited to have you. It's gonna be a

25
00:01:29,920 --> 00:01:32,880
Speaker 1: lot of fun, Kimiko. And Yeah, you've been doing a

26
00:01:33,000 --> 00:01:35,680
Speaker 1: lot of great work in the budgeting space for a

27
00:01:35,720 --> 00:01:37,320
Speaker 1: lot of years now, and we want to talk a

28
00:01:37,360 --> 00:01:39,680
Speaker 1: lot about that, especially uh, some of the stuff you

29
00:01:39,800 --> 00:01:41,959
Speaker 1: you've written in your newest book. But before we get

30
00:01:42,000 --> 00:01:44,080
Speaker 1: to some of those questions, the first question we ask

31
00:01:44,080 --> 00:01:46,720
Speaker 1: anybody who comes on our show is what do you

32
00:01:46,720 --> 00:01:49,120
Speaker 1: like to splore? John? Because Matt and I we spend

33
00:01:49,360 --> 00:01:51,760
Speaker 1: quite a bit of money on good craft beer. It's

34
00:01:51,880 --> 00:01:53,720
Speaker 1: um something that we prioritize in the here and now

35
00:01:53,720 --> 00:01:56,320
Speaker 1: while we're saving our money and investing for the future. Like,

36
00:01:56,360 --> 00:01:59,400
Speaker 1: what is that for you? Well, really, for me, it's

37
00:01:59,440 --> 00:02:03,120
Speaker 1: always been travel. That has always been kind of one

38
00:02:03,120 --> 00:02:04,800
Speaker 1: of my priorities in life, and I think if I

39
00:02:04,840 --> 00:02:08,480
Speaker 1: go further than that, I really think it's experiences. I

40
00:02:08,480 --> 00:02:10,800
Speaker 1: am in the type of person where I struggled a

41
00:02:10,800 --> 00:02:13,840
Speaker 1: lot in my financial journey between the balance of taking

42
00:02:13,880 --> 00:02:16,320
Speaker 1: care of my future self versus living in the now,

43
00:02:17,080 --> 00:02:18,560
Speaker 1: and I think that's a struggle that a lot of

44
00:02:18,560 --> 00:02:21,120
Speaker 1: people face. It's that balance of how do I do both?

45
00:02:21,720 --> 00:02:25,320
Speaker 1: And early on I decided, you know, experience in quality

46
00:02:25,400 --> 00:02:28,880
Speaker 1: time is something you can't put a value on. I

47
00:02:28,919 --> 00:02:31,160
Speaker 1: really do believe that we are blessed with the life

48
00:02:31,160 --> 00:02:33,840
Speaker 1: we have been given. It's way too short, and so

49
00:02:34,040 --> 00:02:36,280
Speaker 1: I needed to find a way to balance those two

50
00:02:36,320 --> 00:02:39,280
Speaker 1: things very early on. Yeah, and that just takes I mean,

51
00:02:39,320 --> 00:02:41,400
Speaker 1: it takes some time to figure that out, right, because

52
00:02:41,680 --> 00:02:44,200
Speaker 1: I think a lot of times, uh, the temptation might

53
00:02:44,200 --> 00:02:45,919
Speaker 1: be to swing from one end of the spectrum to

54
00:02:45,960 --> 00:02:48,200
Speaker 1: the other, right, and so maybe you're just living life

55
00:02:48,200 --> 00:02:50,480
Speaker 1: like normal people, like everyone else out there, and then

56
00:02:50,480 --> 00:02:53,360
Speaker 1: you realize, oh no, it's time to be financially responsible

57
00:02:53,400 --> 00:02:54,800
Speaker 1: with my you know, with my life, with my money,

58
00:02:54,919 --> 00:02:56,880
Speaker 1: and then you swing far to the to the other side,

59
00:02:56,919 --> 00:02:59,320
Speaker 1: and it's all about deprivation. And so yeah, that's a

60
00:02:59,320 --> 00:03:01,200
Speaker 1: big part of why you have craft beer here on

61
00:03:01,240 --> 00:03:03,320
Speaker 1: our show to kind of illustrate the fact that you've

62
00:03:03,320 --> 00:03:05,160
Speaker 1: got to find that balance. For you, what it looks

63
00:03:05,160 --> 00:03:07,359
Speaker 1: like you have to find ways to incorporate a little

64
00:03:07,360 --> 00:03:09,480
Speaker 1: bit of joy into your life. Now if you go on,

65
00:03:09,600 --> 00:03:11,520
Speaker 1: if you go full on deprivation, like how long can

66
00:03:11,520 --> 00:03:13,240
Speaker 1: you keep that up? You know, not not not too long?

67
00:03:13,280 --> 00:03:15,800
Speaker 1: And often times you're gonna yo yo back in the

68
00:03:15,800 --> 00:03:19,400
Speaker 1: other direction. Yeah, it's definitely not sustainable. I mean you

69
00:03:19,560 --> 00:03:21,800
Speaker 1: A lot of people get really excited about their financial

70
00:03:21,880 --> 00:03:25,560
Speaker 1: journeys in the beginning and they go acent hardcore, only

71
00:03:25,600 --> 00:03:28,400
Speaker 1: to burn out about three months later. And what happens

72
00:03:28,480 --> 00:03:31,480
Speaker 1: is that can actually hurt you more because you end

73
00:03:31,560 --> 00:03:34,960
Speaker 1: up actually splurging and doing a lot of them, taking

74
00:03:34,960 --> 00:03:36,920
Speaker 1: a lot of actions that you wouldn't normally take if

75
00:03:36,920 --> 00:03:40,040
Speaker 1: you weren't feeling that burnout. Um. I think too that

76
00:03:40,440 --> 00:03:42,280
Speaker 1: you know, it does take a long time to find

77
00:03:42,280 --> 00:03:45,120
Speaker 1: that balance, but I also think that it takes a

78
00:03:45,120 --> 00:03:47,760
Speaker 1: lot of hard work. And when I say hard work,

79
00:03:48,280 --> 00:03:51,400
Speaker 1: a lot of the time we don't look inside of ourselves.

80
00:03:51,440 --> 00:03:53,920
Speaker 1: We don't take the time to really discover who we are.

81
00:03:54,520 --> 00:03:56,240
Speaker 1: I mean, if I were to ask you right now

82
00:03:57,040 --> 00:03:59,680
Speaker 1: what brings happiness and joy to your lives, and not

83
00:03:59,800 --> 00:04:02,080
Speaker 1: only that, what do you want your money to do

84
00:04:02,160 --> 00:04:04,360
Speaker 1: for you? A lot of people can't answer that right away.

85
00:04:04,760 --> 00:04:07,200
Speaker 1: When you ask somebody a plain question like what makes

86
00:04:07,240 --> 00:04:09,720
Speaker 1: you happy? A lot of people have to sit back

87
00:04:09,720 --> 00:04:13,320
Speaker 1: and think, well, that's a hard one to answer, and

88
00:04:13,360 --> 00:04:16,360
Speaker 1: so it really is a self discovery journey in order

89
00:04:16,400 --> 00:04:18,800
Speaker 1: to find that balance. Yeah, I know, of how that's

90
00:04:18,839 --> 00:04:20,720
Speaker 1: just so much a part of your book and how

91
00:04:20,720 --> 00:04:24,400
Speaker 1: it is that you walk your readers through. And we're

92
00:04:24,400 --> 00:04:26,320
Speaker 1: going to talk about you know what we call like

93
00:04:26,360 --> 00:04:28,640
Speaker 1: the why behind your Money. We're gonna talk about burnouts

94
00:04:28,640 --> 00:04:30,800
Speaker 1: and sustainability later on here on the episode as well.

95
00:04:31,040 --> 00:04:32,840
Speaker 1: Can you go, but first we want to kind of

96
00:04:32,839 --> 00:04:34,680
Speaker 1: travel back in time a little bit. You talk about

97
00:04:34,800 --> 00:04:37,080
Speaker 1: the birth of your son and how that changed everything.

98
00:04:37,120 --> 00:04:39,279
Speaker 1: Can you take us back and tell us what you

99
00:04:39,320 --> 00:04:41,599
Speaker 1: were going through at that point in time? Yeah, when

100
00:04:41,600 --> 00:04:45,040
Speaker 1: my son was born. Um, so my pregnancy was not planned.

101
00:04:45,040 --> 00:04:48,440
Speaker 1: It was a complete surprise. And I think anytime you're

102
00:04:48,480 --> 00:04:51,200
Speaker 1: in that situation, all these questions go through your head.

103
00:04:51,760 --> 00:04:55,280
Speaker 1: How do I afford having a child? What does that

104
00:04:55,360 --> 00:04:58,200
Speaker 1: look like? Um? And as a first time mom, and

105
00:04:58,240 --> 00:05:00,640
Speaker 1: of course you have all these stressors of I don't

106
00:05:00,640 --> 00:05:02,600
Speaker 1: even know what I'm doing, I don't know what to do,

107
00:05:02,800 --> 00:05:05,039
Speaker 1: I don't know you know, your your focus on I

108
00:05:05,040 --> 00:05:06,880
Speaker 1: want them to have the best values and be the

109
00:05:06,920 --> 00:05:09,080
Speaker 1: best person they can be and give them best life.

110
00:05:09,080 --> 00:05:10,520
Speaker 1: But at the same time I have to worry about

111
00:05:10,520 --> 00:05:13,520
Speaker 1: my finances and putting them through college and all the expenses,

112
00:05:13,520 --> 00:05:16,599
Speaker 1: and so it's just very worrying. But when my son

113
00:05:16,800 --> 00:05:19,839
Speaker 1: was born, something happened to me that I wasn't expecting.

114
00:05:20,680 --> 00:05:23,599
Speaker 1: I realized for the first time that I really didn't

115
00:05:23,720 --> 00:05:26,560
Speaker 1: think about a better future. In fact, I didn't really

116
00:05:26,560 --> 00:05:28,800
Speaker 1: even think about my future before my son, and didn't

117
00:05:28,839 --> 00:05:31,599
Speaker 1: safe for retirement. I wasn't thinking about, you know, my

118
00:05:31,640 --> 00:05:33,640
Speaker 1: future self for my next steps. I was kind of

119
00:05:33,680 --> 00:05:36,280
Speaker 1: just living in the now in denial. But when my

120
00:05:36,360 --> 00:05:39,359
Speaker 1: son was born for the first time, and this is

121
00:05:39,360 --> 00:05:42,440
Speaker 1: gonna sound selfish, but it's true, I had to put

122
00:05:42,520 --> 00:05:47,040
Speaker 1: someone else's life there there wants their needs above my own.

123
00:05:48,080 --> 00:05:50,440
Speaker 1: And I really think that's the definition of true love,

124
00:05:51,080 --> 00:05:53,480
Speaker 1: is when you're able to put someone's wants and needs

125
00:05:53,560 --> 00:05:58,160
Speaker 1: above your own. And I found a different purpose. My

126
00:05:58,200 --> 00:06:01,400
Speaker 1: son gave me the ability to see a different and

127
00:06:01,480 --> 00:06:04,360
Speaker 1: better future and that was never given to me before.

128
00:06:04,960 --> 00:06:06,760
Speaker 1: And so that's kind of the headspace that I was

129
00:06:06,800 --> 00:06:10,360
Speaker 1: in when he was born. But then that started to

130
00:06:10,440 --> 00:06:13,839
Speaker 1: create kind of some difficulties in your marriage, right because

131
00:06:13,960 --> 00:06:16,000
Speaker 1: you're kind of wrestling with these things and it leads

132
00:06:16,040 --> 00:06:20,039
Speaker 1: to you wanting to make changes. And then I guess, um,

133
00:06:20,080 --> 00:06:23,320
Speaker 1: that wasn't perceived very well, right, Yeah, you know me

134
00:06:23,360 --> 00:06:26,240
Speaker 1: and my ex husband, It's funny because we never thought

135
00:06:26,279 --> 00:06:29,760
Speaker 1: about money ever. In fact, we did something way worse.

136
00:06:30,080 --> 00:06:33,159
Speaker 1: We never even talked about it. We were completely silent

137
00:06:33,200 --> 00:06:35,600
Speaker 1: on the subject. And so when it did come time

138
00:06:35,640 --> 00:06:38,200
Speaker 1: for us to start making financial decisions because now we

139
00:06:38,240 --> 00:06:41,560
Speaker 1: had a child involved, we realized we were on very

140
00:06:41,640 --> 00:06:45,600
Speaker 1: different teams. I wanted to start a bunch of financial

141
00:06:45,600 --> 00:06:48,599
Speaker 1: goals and start saving and budgeting, whereas my ex husband

142
00:06:49,040 --> 00:06:50,960
Speaker 1: was kind of like, oh, he just wanted to continue

143
00:06:51,000 --> 00:06:54,040
Speaker 1: spending the way that we were. No no real ambitions,

144
00:06:54,040 --> 00:06:57,200
Speaker 1: no goals, And so that did cause some some turmoil

145
00:06:57,279 --> 00:07:01,560
Speaker 1: in the marriage and and as new parents, because don't forget,

146
00:07:01,600 --> 00:07:03,599
Speaker 1: as a new parent you're also dealing with a ton

147
00:07:03,640 --> 00:07:06,159
Speaker 1: of stuff outside of just finances. I think the burden

148
00:07:06,240 --> 00:07:08,679
Speaker 1: and stress of finances kind of just adds an extra

149
00:07:08,800 --> 00:07:13,160
Speaker 1: level of frustration inside the marriage conversation. Um, but that's

150
00:07:13,160 --> 00:07:15,840
Speaker 1: exactly what happened and where we were. We realize we're

151
00:07:15,840 --> 00:07:18,720
Speaker 1: on very different teams. I think a lot of folks

152
00:07:18,720 --> 00:07:21,280
Speaker 1: have experienced divorce and their families. It's obviously difficult on

153
00:07:21,560 --> 00:07:24,000
Speaker 1: like many levels, but like you talk about experiencing as

154
00:07:24,080 --> 00:07:26,679
Speaker 1: as a kid, even when your parents went through pretty

155
00:07:26,760 --> 00:07:29,240
Speaker 1: terrible one. Uh. And so I guess I wanted to know,

156
00:07:29,320 --> 00:07:31,440
Speaker 1: like if you had any advice, you know, like what,

157
00:07:31,520 --> 00:07:33,560
Speaker 1: like what advice do you have for folks whose relationship

158
00:07:33,600 --> 00:07:35,240
Speaker 1: has hit a tough spot or you know, who have

159
00:07:35,640 --> 00:07:38,160
Speaker 1: just recently maybe separated from their partner. Do you have

160
00:07:38,360 --> 00:07:41,080
Speaker 1: a word for those folks? Well as far as partners

161
00:07:41,080 --> 00:07:43,000
Speaker 1: who are still married and they're kind of, you know,

162
00:07:43,160 --> 00:07:46,520
Speaker 1: waiting through that problem zone. If you maybe you're just

163
00:07:46,560 --> 00:07:49,200
Speaker 1: starting to talk about finances or maybe you realize that

164
00:07:49,240 --> 00:07:52,760
Speaker 1: you are um going for completely different things. I think

165
00:07:52,760 --> 00:07:55,680
Speaker 1: the number one thing to realize is that you are

166
00:07:55,720 --> 00:07:59,000
Speaker 1: a team. You're a team your partners, So you're not

167
00:07:59,040 --> 00:08:03,000
Speaker 1: competing against each other. It's not I'm right, you're wrong.

168
00:08:03,680 --> 00:08:06,800
Speaker 1: It's more of, Okay, we have different views, which is

169
00:08:06,800 --> 00:08:10,240
Speaker 1: completely normal. Our relationship with money is going to be

170
00:08:10,240 --> 00:08:12,520
Speaker 1: different for everybody. It doesn't mean that they're wrong and

171
00:08:12,560 --> 00:08:14,680
Speaker 1: you're right, or vice versa. It just means you have

172
00:08:14,760 --> 00:08:18,160
Speaker 1: a completely different outlook and view on money and it's

173
00:08:18,200 --> 00:08:21,440
Speaker 1: personal to each person. And I think the more grace

174
00:08:21,520 --> 00:08:24,320
Speaker 1: you can give to your partner knowing that is going

175
00:08:24,320 --> 00:08:28,240
Speaker 1: to make that conversation a lot easier. You have to

176
00:08:28,280 --> 00:08:32,679
Speaker 1: approach it as a as a partnership rather than a competition. UM.

177
00:08:32,720 --> 00:08:34,280
Speaker 1: I think a little all of us, a little bit,

178
00:08:34,320 --> 00:08:37,960
Speaker 1: you know, have this competitive drive inside of us where

179
00:08:38,000 --> 00:08:40,439
Speaker 1: we're right and everyone else everyone else is wrong. Right.

180
00:08:40,520 --> 00:08:42,360
Speaker 1: We all kind of battle that I think sometime in

181
00:08:42,360 --> 00:08:46,480
Speaker 1: our life. But as far as just getting divorced, I

182
00:08:46,520 --> 00:08:48,520
Speaker 1: think one of the things that we have we have

183
00:08:48,640 --> 00:08:52,040
Speaker 1: to be aware of is how our emotions during that

184
00:08:52,120 --> 00:08:56,839
Speaker 1: time really affect our financial decisions. Um. And so one

185
00:08:56,840 --> 00:08:58,800
Speaker 1: of the things that I always tell people is you

186
00:08:58,800 --> 00:09:01,600
Speaker 1: have to protect yourself, your legacy, and your assets first

187
00:09:01,640 --> 00:09:03,959
Speaker 1: and foremost. You have to do your due diligence in

188
00:09:04,000 --> 00:09:07,400
Speaker 1: the research to know how do you protect yourself, especially

189
00:09:07,400 --> 00:09:10,120
Speaker 1: as a single mom and a woman, um when you

190
00:09:10,160 --> 00:09:14,920
Speaker 1: were going through the divorce process. But secondly, to focus

191
00:09:15,080 --> 00:09:18,880
Speaker 1: on not allowing your emotions to control you, but rather

192
00:09:19,000 --> 00:09:22,679
Speaker 1: you controlling your emotions through that process. And then let's

193
00:09:22,720 --> 00:09:24,800
Speaker 1: let's talk about so you you became a single mom,

194
00:09:24,960 --> 00:09:29,000
Speaker 1: Kimiko and you talk about how you had this desire

195
00:09:29,160 --> 00:09:32,600
Speaker 1: right to to get your finances in order, but then

196
00:09:32,920 --> 00:09:35,720
Speaker 1: your desire to be a good mom is is partially

197
00:09:35,800 --> 00:09:38,560
Speaker 1: what led you into debt. You wanted to provide like

198
00:09:38,640 --> 00:09:40,920
Speaker 1: this warm and inviting house for yourself and for your

199
00:09:40,920 --> 00:09:44,560
Speaker 1: little guy, James, but that led to a spending spree

200
00:09:44,640 --> 00:09:49,200
Speaker 1: and then incurring more debt than you planned on. Right. Oh, absolutely,

201
00:09:49,880 --> 00:09:52,120
Speaker 1: you know. One of the hardest things that I had

202
00:09:52,160 --> 00:09:57,960
Speaker 1: to realize was that I was spending to make myself

203
00:09:58,040 --> 00:10:04,520
Speaker 1: feel better, not because I truly was having I guess

204
00:10:04,760 --> 00:10:07,640
Speaker 1: having my son as a first priority. And now that

205
00:10:07,679 --> 00:10:09,959
Speaker 1: sounds horrible to say out loud, but it's the truth.

206
00:10:10,080 --> 00:10:13,520
Speaker 1: I was spending money because I didn't feel like an

207
00:10:13,520 --> 00:10:17,520
Speaker 1: adequate mom when I was giving myself. The excuse was

208
00:10:17,679 --> 00:10:20,880
Speaker 1: I was I was spending for my son and that

209
00:10:21,120 --> 00:10:23,960
Speaker 1: was not the case. And because I had all this

210
00:10:24,200 --> 00:10:29,120
Speaker 1: guilt and all this shame around my divorce, I spent

211
00:10:29,280 --> 00:10:33,200
Speaker 1: money like nothing had changed. I spent money trying to

212
00:10:33,240 --> 00:10:36,360
Speaker 1: give him this life that we had before, when obviously

213
00:10:36,440 --> 00:10:40,600
Speaker 1: that wasn't the case, and I was spending to provide

214
00:10:40,720 --> 00:10:44,560
Speaker 1: a safe, happy place for my son, which ultimately led

215
00:10:44,600 --> 00:10:47,360
Speaker 1: into credit card debt because it started with ordering a

216
00:10:47,360 --> 00:10:49,840
Speaker 1: new bed and then it went to ordering a whole

217
00:10:49,880 --> 00:10:53,240
Speaker 1: new kitchen. Um. And that led to me, you know,

218
00:10:53,280 --> 00:10:55,440
Speaker 1: accepting all these credit card offers in the mail and

219
00:10:55,480 --> 00:10:57,719
Speaker 1: telling myself, you know what, I'll just pay this off

220
00:10:57,760 --> 00:11:00,640
Speaker 1: in a year. It's going to be fine, um deep down,

221
00:11:00,679 --> 00:11:03,760
Speaker 1: knowing that I probably didn't even have enough money with

222
00:11:03,800 --> 00:11:07,040
Speaker 1: my next paycheck to even cover the minimum payment. And

223
00:11:07,200 --> 00:11:09,920
Speaker 1: my excuse was I'm trying to be a good mom,

224
00:11:11,040 --> 00:11:13,760
Speaker 1: I'm trying to do the best for my son, when

225
00:11:13,840 --> 00:11:17,120
Speaker 1: reality it was more of I'm trying to make myself

226
00:11:17,200 --> 00:11:20,520
Speaker 1: feel better as a mom. Um. So that's ultimately which

227
00:11:20,559 --> 00:11:24,559
Speaker 1: led to about over twenty dollars in credit card debt. Och. Yeah,

228
00:11:24,760 --> 00:11:26,760
Speaker 1: you know. So, like as you're talking about emotions here,

229
00:11:26,800 --> 00:11:28,800
Speaker 1: Comico makes me think about how you say in your

230
00:11:28,800 --> 00:11:32,640
Speaker 1: book that your financial health is your emotional health, and

231
00:11:32,720 --> 00:11:35,679
Speaker 1: so how is it that you equate the two. Well, really,

232
00:11:35,720 --> 00:11:40,520
Speaker 1: if you think about it, emotions drive so many of

233
00:11:40,520 --> 00:11:44,000
Speaker 1: our decisions. And I'm not talking just about financial decisions,

234
00:11:44,000 --> 00:11:46,160
Speaker 1: but if you think back on it just a regular

235
00:11:46,240 --> 00:11:49,160
Speaker 1: day today, you have to ask yourself why you make

236
00:11:49,200 --> 00:11:52,440
Speaker 1: the decisions you do, and emotions play a huge role

237
00:11:52,440 --> 00:11:56,640
Speaker 1: in that, whether it's guilt shame which leads to impulse

238
00:11:56,679 --> 00:11:59,880
Speaker 1: buying and purchases UM. For me, you know, a lot

239
00:11:59,880 --> 00:12:03,680
Speaker 1: of emotional spending UM was rooted in the way that

240
00:12:03,720 --> 00:12:07,440
Speaker 1: I ultimately felt about myself. And that's really what this book,

241
00:12:07,480 --> 00:12:11,120
Speaker 1: My Money, My Way is all about is understanding that

242
00:12:11,280 --> 00:12:15,560
Speaker 1: until you can understand your emotions, it's going to be

243
00:12:15,640 --> 00:12:19,679
Speaker 1: really hard to control your finances. You have to understand

244
00:12:19,720 --> 00:12:22,640
Speaker 1: who you are as an individual, not as a mom,

245
00:12:22,760 --> 00:12:24,679
Speaker 1: not as a sister or a friend, as a parent,

246
00:12:25,040 --> 00:12:28,319
Speaker 1: but as a person you have. That's the hard work

247
00:12:28,520 --> 00:12:31,440
Speaker 1: in this journey is getting to a place and asking

248
00:12:31,480 --> 00:12:35,480
Speaker 1: and answering those very very tough questions and then diving

249
00:12:35,520 --> 00:12:38,319
Speaker 1: in and doing the deeper work on how to repair it.

250
00:12:39,120 --> 00:12:44,160
Speaker 1: And so emotions really is the focus of ultimately getting

251
00:12:44,200 --> 00:12:47,480
Speaker 1: to a place where you feel at peace with your money. Yeah,

252
00:12:47,520 --> 00:12:50,800
Speaker 1: so you mentioned guilt and shame, and those are I

253
00:12:50,840 --> 00:12:55,520
Speaker 1: think two things that that people feel deeply when it

254
00:12:55,559 --> 00:12:58,400
Speaker 1: comes to how they view money, how they handle money,

255
00:12:58,679 --> 00:13:00,760
Speaker 1: and if they don't do it right, it's like those

256
00:13:00,920 --> 00:13:04,120
Speaker 1: those things continue to rear up, rear their ugly heads,

257
00:13:04,480 --> 00:13:06,839
Speaker 1: and I think they lead us down the path to

258
00:13:07,280 --> 00:13:10,760
Speaker 1: more guilt and more shame. And so yeah, they talk

259
00:13:10,800 --> 00:13:13,079
Speaker 1: to us about those feelings a shame, how they're such

260
00:13:13,080 --> 00:13:14,800
Speaker 1: a powerful negative force. And then and then how do

261
00:13:14,880 --> 00:13:18,640
Speaker 1: you talk or help people think through combating like the

262
00:13:18,679 --> 00:13:23,520
Speaker 1: negative forces of specifically, uh, shame and guilt. Yeah, so

263
00:13:23,600 --> 00:13:26,800
Speaker 1: really you know, shame and guilt your correct, those are

264
00:13:26,800 --> 00:13:30,120
Speaker 1: the two leading factors and especially in my journey, UM,

265
00:13:30,160 --> 00:13:33,040
Speaker 1: that can lead us down a big black hole. Really

266
00:13:33,120 --> 00:13:36,040
Speaker 1: combating it, um are all the steps that I talk

267
00:13:36,080 --> 00:13:39,439
Speaker 1: about in my book. One of them is understanding what

268
00:13:39,480 --> 00:13:41,079
Speaker 1: you want from your money. You know, the book is

269
00:13:41,120 --> 00:13:45,360
Speaker 1: about finding financially fulfilled life. What does that mean to

270
00:13:45,440 --> 00:13:49,520
Speaker 1: be financially fulfilled? I believe that every single person on

271
00:13:49,559 --> 00:13:51,839
Speaker 1: this earth can get to that place right now, no

272
00:13:51,880 --> 00:13:55,600
Speaker 1: matter where they are financially, what circumstances are, situation they

273
00:13:55,640 --> 00:13:57,720
Speaker 1: find themselves in, because it has less to do with

274
00:13:57,760 --> 00:14:01,280
Speaker 1: the numbers and money and more about your self and

275
00:14:01,320 --> 00:14:04,520
Speaker 1: a financially fulfilled life when it comes to your emotions

276
00:14:05,000 --> 00:14:10,320
Speaker 1: and discovering who you are includes three things, and that's confidence, stability,

277
00:14:10,600 --> 00:14:13,960
Speaker 1: and clarity. And each one of those things really does

278
00:14:14,440 --> 00:14:16,199
Speaker 1: have more to do with who you are and your

279
00:14:16,200 --> 00:14:19,120
Speaker 1: emotions than it does anything about the numbers. Well, as

280
00:14:19,120 --> 00:14:20,600
Speaker 1: you say, this is what it makes me think about

281
00:14:20,640 --> 00:14:23,960
Speaker 1: how you're talking about emotions here, and often, like I

282
00:14:24,000 --> 00:14:26,920
Speaker 1: think my instinct is to remove emotions from the the

283
00:14:27,000 --> 00:14:30,400
Speaker 1: equation right by sort of deadening myself and saying, all right,

284
00:14:30,480 --> 00:14:33,720
Speaker 1: now I need to make decisions like a robot. Uh.

285
00:14:33,760 --> 00:14:36,240
Speaker 1: And you actually talk about how like essentially what we

286
00:14:36,280 --> 00:14:39,640
Speaker 1: need to do is almost like harness those emotions, because

287
00:14:39,680 --> 00:14:43,280
Speaker 1: if we deaden our desires and try to remove emotions

288
00:14:43,280 --> 00:14:45,960
Speaker 1: from our our day to day lives, oftentimes I think

289
00:14:46,040 --> 00:14:48,240
Speaker 1: that is how we can find ourselves not finding the

290
00:14:48,320 --> 00:14:52,760
Speaker 1: motivation to actually follow through with behaving with our money. Yeah. Absolutely,

291
00:14:52,800 --> 00:14:55,200
Speaker 1: you know if you sometimes that, you know, I've had

292
00:14:55,240 --> 00:14:57,520
Speaker 1: some community members reach out to me. They say they've

293
00:14:57,880 --> 00:15:01,000
Speaker 1: gone to a counseling set and with their partner and

294
00:15:01,280 --> 00:15:03,680
Speaker 1: they've been told to leave emotions at the door, to

295
00:15:03,800 --> 00:15:08,520
Speaker 1: check out emotionally. Here's the problem with that. It's never

296
00:15:08,560 --> 00:15:13,840
Speaker 1: ever going to happen. Why, Because we are emotional beings.

297
00:15:14,680 --> 00:15:18,240
Speaker 1: And until you recognize that, it's like saying stop breathing.

298
00:15:19,440 --> 00:15:22,200
Speaker 1: No matter how much you say, oh, don't be mad,

299
00:15:22,280 --> 00:15:26,480
Speaker 1: don't be angry, don't feel shame, don't feel anything. That's

300
00:15:26,520 --> 00:15:30,000
Speaker 1: a completely unrealistic thing to do. We are emotional beings.

301
00:15:30,000 --> 00:15:33,120
Speaker 1: That's going to happen. And knowing that and the quicker

302
00:15:33,160 --> 00:15:37,400
Speaker 1: you know that you need to start controlling and understanding

303
00:15:37,400 --> 00:15:42,200
Speaker 1: your emotions and then using that as a tool rather

304
00:15:42,240 --> 00:15:45,720
Speaker 1: than as a burden and letting those emotions control you.

305
00:15:45,720 --> 00:15:48,640
Speaker 1: Because I'll tell you right now, the moment you can

306
00:15:48,760 --> 00:15:53,440
Speaker 1: learn and control your emotions and use them for empowerment

307
00:15:53,600 --> 00:15:57,480
Speaker 1: and passion and motivation the things that you want in

308
00:15:57,480 --> 00:15:59,000
Speaker 1: your life and how you want to live your life.

309
00:15:59,000 --> 00:16:02,360
Speaker 1: That can be literally the most powerful tool that you have.

310
00:16:03,280 --> 00:16:05,760
Speaker 1: You don't need to deaden yourself to those emotions, but

311
00:16:05,800 --> 00:16:08,360
Speaker 1: you need to, yeah, pursue them and harness them in

312
00:16:08,360 --> 00:16:09,840
Speaker 1: the right way. Or you can or you can keep

313
00:16:09,840 --> 00:16:12,280
Speaker 1: stuffing them down like I try to do. They all

314
00:16:12,280 --> 00:16:16,360
Speaker 1: come spelling out. And yeah, that's why I was with

315
00:16:16,440 --> 00:16:18,880
Speaker 1: most people right and then and that's yeah, the binge

316
00:16:18,880 --> 00:16:21,680
Speaker 1: and purchycle sometimes of money happens. All right, Kamico. We've

317
00:16:21,720 --> 00:16:23,640
Speaker 1: got more questions to get to with you, including we

318
00:16:23,640 --> 00:16:26,960
Speaker 1: we want to talk about some of your specific budgeting techniques.

319
00:16:27,400 --> 00:16:29,400
Speaker 1: Uh and and yeah, we'll talk more about that right

320
00:16:29,440 --> 00:16:40,600
Speaker 1: after this. Alright, we're back from the break talking with

321
00:16:40,680 --> 00:16:43,240
Speaker 1: Kimiko Love. She's got her new book outs next month,

322
00:16:43,280 --> 00:16:45,640
Speaker 1: My Money, My Way, and Kimico, you know you were.

323
00:16:45,680 --> 00:16:48,000
Speaker 1: We were talking about the big questions that you need

324
00:16:48,040 --> 00:16:52,080
Speaker 1: to answer before we kind of get to the practical stuff,

325
00:16:52,200 --> 00:16:55,440
Speaker 1: and so like finding your why, your purpose, your motivation,

326
00:16:55,480 --> 00:16:58,480
Speaker 1: these are all crucial places to start. And I love

327
00:16:58,640 --> 00:17:01,720
Speaker 1: how in your book it's the first budget by paychecks step.

328
00:17:02,240 --> 00:17:04,879
Speaker 1: Can you talk about, you know, finding those things, finding

329
00:17:04,880 --> 00:17:07,399
Speaker 1: your purpose, your motivation. Yeah, so, I think all of

330
00:17:07,480 --> 00:17:09,080
Speaker 1: us get to a point. I mean that's why a

331
00:17:09,160 --> 00:17:10,840
Speaker 1: lot of people are going to be picking up this book,

332
00:17:10,840 --> 00:17:13,560
Speaker 1: that's why you're here now listening to this podcast. We

333
00:17:13,680 --> 00:17:16,240
Speaker 1: get to a point in our lives where we finally say,

334
00:17:16,640 --> 00:17:18,880
Speaker 1: I don't want to live my life like this anymore.

335
00:17:19,640 --> 00:17:22,720
Speaker 1: I don't want this kind of mess in stress with

336
00:17:22,760 --> 00:17:25,520
Speaker 1: my finances, and all of a sudden you realize you

337
00:17:25,560 --> 00:17:29,160
Speaker 1: want change. That's the first step, but it's not enough.

338
00:17:30,240 --> 00:17:33,879
Speaker 1: Understanding your purpose and motivation for wanting a financial change

339
00:17:33,880 --> 00:17:35,720
Speaker 1: in your life is the very first step. I think

340
00:17:35,720 --> 00:17:39,240
Speaker 1: we all kind of need that push to want something different.

341
00:17:39,280 --> 00:17:41,960
Speaker 1: A lot of people say it's hitting rock bottom, whether

342
00:17:42,040 --> 00:17:44,480
Speaker 1: that's how you know, having your car repossessed, or for

343
00:17:44,560 --> 00:17:47,600
Speaker 1: me like having my son and being a complete mess

344
00:17:47,640 --> 00:17:50,880
Speaker 1: with my finances and wanting to provide the best life

345
00:17:50,880 --> 00:17:52,919
Speaker 1: for him, whatever that may look like in your life.

346
00:17:53,560 --> 00:17:57,399
Speaker 1: But the next step beyond motivation is realizing that motivation

347
00:17:57,480 --> 00:17:59,600
Speaker 1: is going to be absent a lot of times in

348
00:17:59,600 --> 00:18:01,280
Speaker 1: your journe People ask me all the time, you goo,

349
00:18:01,320 --> 00:18:04,480
Speaker 1: how do you stay so motivated every day? Truth is,

350
00:18:04,480 --> 00:18:07,120
Speaker 1: I'm not because I'm a human being, and I'm real

351
00:18:07,200 --> 00:18:10,600
Speaker 1: I'm not motivated every day, but it's because I've learned

352
00:18:11,280 --> 00:18:15,719
Speaker 1: self discipline. Motivation and finding your purpose on this journey

353
00:18:15,760 --> 00:18:19,320
Speaker 1: is the first step to self discipline, and it's self

354
00:18:19,359 --> 00:18:21,639
Speaker 1: discipline that's going to be in your life on the

355
00:18:21,720 --> 00:18:26,560
Speaker 1: days where motivation is gone. And so self discipline is

356
00:18:26,640 --> 00:18:31,440
Speaker 1: actually created by taking consistent change in our lives that

357
00:18:31,480 --> 00:18:37,040
Speaker 1: creates habits, and these habits towards better financial management of

358
00:18:37,119 --> 00:18:40,119
Speaker 1: our money, which is going to lead you to that

359
00:18:40,160 --> 00:18:43,600
Speaker 1: self discipline. Whether that's a daily routine like I've established

360
00:18:43,600 --> 00:18:47,040
Speaker 1: in my life, whether that's a newfound excitement for your

361
00:18:47,040 --> 00:18:50,360
Speaker 1: savings goals and your trackers, um it kind of leads

362
00:18:50,400 --> 00:18:54,200
Speaker 1: down to this routine and in this system that you're

363
00:18:54,280 --> 00:18:59,440
Speaker 1: excited about rather than being scared or stressed about. Yeah,

364
00:18:59,600 --> 00:19:02,560
Speaker 1: in your look you you actually mentioned that that shopping

365
00:19:02,840 --> 00:19:04,880
Speaker 1: was kind of a drug of choice for you when

366
00:19:04,880 --> 00:19:07,639
Speaker 1: it came to how you handled your money, and you

367
00:19:07,680 --> 00:19:10,920
Speaker 1: specifically outlined being at H, H, and M in the

368
00:19:11,000 --> 00:19:14,919
Speaker 1: checkoutline at one point. And I think for a lot

369
00:19:15,040 --> 00:19:17,639
Speaker 1: of folks who are thinking about getting their money together,

370
00:19:17,720 --> 00:19:22,199
Speaker 1: maybe this past holiday season was a thing that they

371
00:19:22,240 --> 00:19:24,520
Speaker 1: look back on and they're like, dang it, I overdid it.

372
00:19:24,800 --> 00:19:28,400
Speaker 1: Or they're about to open up there yeah, or they're

373
00:19:28,400 --> 00:19:30,639
Speaker 1: gonna open up their credit card bill here in just

374
00:19:30,720 --> 00:19:33,200
Speaker 1: a week or two and they're going to be shocked

375
00:19:33,240 --> 00:19:36,320
Speaker 1: because they don't even realize that they overdid it yet. So, yeah,

376
00:19:36,560 --> 00:19:39,000
Speaker 1: can you share that story of that line and then

377
00:19:39,440 --> 00:19:41,719
Speaker 1: of that checkoutline, what happened there, and then I'd love

378
00:19:41,760 --> 00:19:44,040
Speaker 1: to hear your thoughts on kind of curbing that impulse,

379
00:19:44,080 --> 00:19:46,520
Speaker 1: because that is such like an American impulse these days.

380
00:19:46,520 --> 00:19:49,000
Speaker 1: It feels like, oh, absolutely, you know, I'll never forget

381
00:19:49,040 --> 00:19:50,800
Speaker 1: that moment in my life. It was kind of like

382
00:19:50,840 --> 00:19:53,440
Speaker 1: a slap in the face for me. I was actually

383
00:19:54,000 --> 00:19:57,080
Speaker 1: on my one, you know, my daily shopping bungeons, trying

384
00:19:57,119 --> 00:19:59,960
Speaker 1: to combat all these negative emotions that I was feeling

385
00:20:00,040 --> 00:20:02,400
Speaker 1: that day. And I was in the check in line,

386
00:20:02,480 --> 00:20:04,960
Speaker 1: probably with you know, I had all these new clothes

387
00:20:05,040 --> 00:20:06,800
Speaker 1: from my arm all the way to the top of

388
00:20:06,840 --> 00:20:08,920
Speaker 1: my head of all these things I was going to buy,

389
00:20:09,000 --> 00:20:12,240
Speaker 1: and knowing deep down and you know, my gut, knowing

390
00:20:12,280 --> 00:20:14,240
Speaker 1: that I didn't have the money to pay for these things,

391
00:20:14,240 --> 00:20:15,879
Speaker 1: I was just going to swipe my credit card and

392
00:20:15,920 --> 00:20:18,840
Speaker 1: deal with it later type of situation. And I'm sitting

393
00:20:18,880 --> 00:20:21,120
Speaker 1: there and there was this young lady and her mom

394
00:20:21,160 --> 00:20:23,439
Speaker 1: behind me, and her she was asking her mom for

395
00:20:23,600 --> 00:20:26,880
Speaker 1: credit card. And at that moment, I looked down at

396
00:20:27,119 --> 00:20:30,880
Speaker 1: all these things that I was going to buy, and

397
00:20:31,040 --> 00:20:33,400
Speaker 1: I realized that none of it was going to make

398
00:20:33,440 --> 00:20:38,119
Speaker 1: me feel better, maybe temporarily, until I got home and realized,

399
00:20:38,160 --> 00:20:39,840
Speaker 1: oh my gosh, now I have to pay all this off,

400
00:20:39,920 --> 00:20:43,240
Speaker 1: and when you're dealing with interests, ends up costing a

401
00:20:43,280 --> 00:20:46,080
Speaker 1: lot more than what you actually pay during checkout, right,

402
00:20:46,600 --> 00:20:50,320
Speaker 1: And so that was really my moment of of just

403
00:20:50,359 --> 00:20:53,000
Speaker 1: the slap in the face, like, oh my gosh, what

404
00:20:53,040 --> 00:20:57,040
Speaker 1: am I doing here? What? What the heck is going on?

405
00:20:57,560 --> 00:20:59,399
Speaker 1: And I started asking that why am I in this

406
00:20:59,480 --> 00:21:02,200
Speaker 1: checkout line? Okay, that was the first time I asked

407
00:21:02,200 --> 00:21:05,240
Speaker 1: the deeper question of why I was spending the way

408
00:21:05,280 --> 00:21:07,639
Speaker 1: I was. It's never happened to me before that moment.

409
00:21:08,520 --> 00:21:12,000
Speaker 1: And then realizing, wait a minute, something a lot you know,

410
00:21:12,600 --> 00:21:17,000
Speaker 1: deeper is going inside here. Something's happening here. Um, so

411
00:21:17,080 --> 00:21:19,520
Speaker 1: that's really what that that story was in the book.

412
00:21:19,600 --> 00:21:21,480
Speaker 1: Is that big slap in the face moment for me

413
00:21:21,560 --> 00:21:24,600
Speaker 1: realizing that I need to ask the deeper questions on

414
00:21:24,640 --> 00:21:27,679
Speaker 1: why I spend the money I do, and then realizing it.

415
00:21:28,240 --> 00:21:32,800
Speaker 1: For me, it was it was a sad discovery, you know,

416
00:21:32,960 --> 00:21:37,359
Speaker 1: realizing that I felt all this game and guilt and shame,

417
00:21:37,440 --> 00:21:39,840
Speaker 1: but not only that I was there, because I ultimately

418
00:21:39,880 --> 00:21:43,920
Speaker 1: didn't like myself. And that's really hard to stay out

419
00:21:43,960 --> 00:21:46,360
Speaker 1: loud and to admit to yourself that when you look

420
00:21:46,400 --> 00:21:49,280
Speaker 1: in the mirror, you don't like what's looking back, that

421
00:21:49,320 --> 00:21:51,480
Speaker 1: you don't feel comfortable in your own skin, that you

422
00:21:51,520 --> 00:21:54,000
Speaker 1: don't accept the way that you look, that you don't

423
00:21:54,040 --> 00:21:56,679
Speaker 1: feel like you fit in, that you feel, you know,

424
00:21:57,480 --> 00:22:00,399
Speaker 1: not confident as as a as a woman, like you

425
00:22:00,440 --> 00:22:02,919
Speaker 1: should be and that was really hard for me to

426
00:22:02,960 --> 00:22:05,760
Speaker 1: admit out loud. In fact, I struggled with that for many,

427
00:22:05,800 --> 00:22:10,159
Speaker 1: many years of combating those feelings. So I think that

428
00:22:10,200 --> 00:22:13,720
Speaker 1: when you're in those situations, you have to recognize it's

429
00:22:13,760 --> 00:22:15,920
Speaker 1: not just like, oh, I'm here and I'm spending money

430
00:22:15,960 --> 00:22:18,800
Speaker 1: on my credit card. You have to ask yourself the

431
00:22:18,840 --> 00:22:24,359
Speaker 1: hard questions and really answer honestly. No one wants to

432
00:22:24,400 --> 00:22:26,800
Speaker 1: admit out loud that they don't like who they are,

433
00:22:27,000 --> 00:22:28,520
Speaker 1: or they don't like the way they feel in their

434
00:22:28,560 --> 00:22:30,360
Speaker 1: own skin, they don't like the way that they look,

435
00:22:30,400 --> 00:22:32,480
Speaker 1: that they don't accept themselves. No one wants to say

436
00:22:32,480 --> 00:22:36,040
Speaker 1: that out loud. But until you can address it, you're

437
00:22:36,080 --> 00:22:38,919
Speaker 1: never going to move past it. And that's really what

438
00:22:39,040 --> 00:22:41,439
Speaker 1: that story was about. One of the other things you

439
00:22:41,440 --> 00:22:44,840
Speaker 1: talk about in the book Comico is prioritization of different

440
00:22:44,840 --> 00:22:47,320
Speaker 1: places where your money needs to go. And I think

441
00:22:47,600 --> 00:22:50,399
Speaker 1: for so many people that is such a difficult step, Like,

442
00:22:50,440 --> 00:22:53,639
Speaker 1: how do I decipher between wants and needs? Because everything

443
00:22:53,720 --> 00:22:55,639
Speaker 1: kind of feels like a need. How do how do

444
00:22:55,680 --> 00:22:58,880
Speaker 1: we decipher between Yeah, those the things that are important

445
00:22:58,920 --> 00:23:01,480
Speaker 1: and that are any priority and the ones that aren't. Yeah,

446
00:23:01,520 --> 00:23:03,399
Speaker 1: it's kind of funny because when we when we have

447
00:23:03,480 --> 00:23:05,680
Speaker 1: all these savings goals and we're trying to save our money,

448
00:23:05,760 --> 00:23:08,399
Speaker 1: everything kind of feels important, doesn't it. It gets to

449
00:23:08,440 --> 00:23:10,080
Speaker 1: a point where like, I want to save for all

450
00:23:10,160 --> 00:23:12,960
Speaker 1: these things, and when you're saving for forty different things,

451
00:23:13,000 --> 00:23:16,840
Speaker 1: you hardly make progress on any of them. Right. So, really,

452
00:23:17,480 --> 00:23:20,520
Speaker 1: this and I think we have to note here that

453
00:23:20,560 --> 00:23:23,680
Speaker 1: this is what's very different about My Money My Way.

454
00:23:23,840 --> 00:23:29,560
Speaker 1: It's the recognition that every single person that reads this

455
00:23:29,640 --> 00:23:33,960
Speaker 1: book is going to have different priorities and different goals.

456
00:23:34,920 --> 00:23:36,760
Speaker 1: And I'm going to be the first to say it

457
00:23:36,920 --> 00:23:42,040
Speaker 1: is completely okay and a normal A lot of people

458
00:23:42,040 --> 00:23:43,640
Speaker 1: when they get to this point, they're like, well, I'm

459
00:23:43,640 --> 00:23:47,240
Speaker 1: not saving for what they are and then they start

460
00:23:47,280 --> 00:23:50,760
Speaker 1: doubting themselves. We should I be saving for this instead? Right,

461
00:23:50,760 --> 00:23:53,480
Speaker 1: we get onto this topic, especially when we're talking about

462
00:23:54,040 --> 00:23:58,080
Speaker 1: debt versus retirement versus saving for a living in the now, right,

463
00:23:58,119 --> 00:24:02,359
Speaker 1: we start to doubt ourselves. So really it comes down

464
00:24:02,480 --> 00:24:07,320
Speaker 1: to that really hard question, what are you trying to

465
00:24:07,400 --> 00:24:12,800
Speaker 1: accomplish with your money and what brings joy in value

466
00:24:12,840 --> 00:24:16,159
Speaker 1: to your life? And before we get to this section

467
00:24:16,240 --> 00:24:18,080
Speaker 1: the book, the book really does help you get to

468
00:24:18,160 --> 00:24:22,560
Speaker 1: that place of understanding. But it comes down to prioritization

469
00:24:22,600 --> 00:24:26,040
Speaker 1: and the things that are important to you. And notice

470
00:24:26,080 --> 00:24:29,840
Speaker 1: how I said you, not anybody else. Doesn't matter what

471
00:24:29,920 --> 00:24:34,280
Speaker 1: anyone else says, thinks, or is telling you or their opinion. Okay,

472
00:24:34,320 --> 00:24:36,199
Speaker 1: this is your financial journey and this is one that

473
00:24:36,240 --> 00:24:39,320
Speaker 1: you are building for yourself. Um. I think that once

474
00:24:39,359 --> 00:24:44,040
Speaker 1: you have that prioritization and you can then group them

475
00:24:44,080 --> 00:24:49,280
Speaker 1: into time segments, so short term, medium term, and long term.

476
00:24:49,320 --> 00:24:51,320
Speaker 1: And in the book, I actually walk you through on

477
00:24:51,440 --> 00:24:55,000
Speaker 1: how to accomplish these goals based on importance in your life,

478
00:24:55,160 --> 00:24:58,640
Speaker 1: using these time segments and putting them into these categories.

479
00:24:59,160 --> 00:25:02,280
Speaker 1: And that's really going to help you decide what do

480
00:25:02,359 --> 00:25:05,280
Speaker 1: I say for now versus what do I say for later?

481
00:25:05,800 --> 00:25:10,040
Speaker 1: Or want versus need? You know, it's sitting down and

482
00:25:10,080 --> 00:25:13,800
Speaker 1: writing all these wants and needs on your paper, maybe

483
00:25:13,800 --> 00:25:17,560
Speaker 1: even taking to highlighter colors, highlighting what you feels a

484
00:25:17,640 --> 00:25:20,879
Speaker 1: need and what you feel as a want, because everybody's

485
00:25:21,000 --> 00:25:24,240
Speaker 1: needs and wants are not the same for everybody. What

486
00:25:24,400 --> 00:25:27,240
Speaker 1: you feel is a need in your life may not

487
00:25:27,359 --> 00:25:30,240
Speaker 1: be a need in someone else's. And this is what

488
00:25:30,440 --> 00:25:34,920
Speaker 1: makes budgeting and finances so completely personal. Yeah, it doesn't

489
00:25:34,920 --> 00:25:36,479
Speaker 1: make a lot of sense if you just end up

490
00:25:36,480 --> 00:25:39,760
Speaker 1: adopting somebody else's budgets or somebody else's goals, or somebody

491
00:25:39,760 --> 00:25:43,440
Speaker 1: else's just long term aspirations that they have and Comico,

492
00:25:43,480 --> 00:25:45,639
Speaker 1: you're talking about budgeting here, you know, let's let's talk

493
00:25:45,640 --> 00:25:47,159
Speaker 1: about some of the just the practical steps to to

494
00:25:47,200 --> 00:25:50,000
Speaker 1: make sure that we are actually following through with the

495
00:25:50,000 --> 00:25:54,199
Speaker 1: budgets that we've created. I am a huge proponent of

496
00:25:54,840 --> 00:25:57,240
Speaker 1: zero sum budgeting, where every single penny has a name

497
00:25:57,280 --> 00:26:00,159
Speaker 1: and making sure I track all of those dollars. But

498
00:26:00,520 --> 00:26:01,959
Speaker 1: you know, I think part of the problem can be

499
00:26:02,240 --> 00:26:04,600
Speaker 1: creating a realistic budget and not this sort of like

500
00:26:04,680 --> 00:26:07,920
Speaker 1: pie in the sky budget. What are your tips for that?

501
00:26:08,040 --> 00:26:10,760
Speaker 1: How is it that we just just make sure that

502
00:26:10,760 --> 00:26:13,680
Speaker 1: we're being true and honest with ourselves compared to something

503
00:26:13,680 --> 00:26:16,480
Speaker 1: that feels a little more aspirational. Yeah. You know, one

504
00:26:16,480 --> 00:26:19,880
Speaker 1: of the biggest mistakes I made on my budgeting journey

505
00:26:20,920 --> 00:26:25,440
Speaker 1: was not having the confidence in my abilities to budget

506
00:26:25,480 --> 00:26:27,480
Speaker 1: in the first place. Maybe I felt like I didn't

507
00:26:27,480 --> 00:26:29,520
Speaker 1: know enough. I didn't feel really you know, I didn't

508
00:26:29,560 --> 00:26:31,840
Speaker 1: know really know what I was doing, And so what

509
00:26:31,960 --> 00:26:35,960
Speaker 1: happened was I was adopting and kind of mirroring other

510
00:26:36,000 --> 00:26:38,520
Speaker 1: people's budgets, but not only that, I was allowing people

511
00:26:38,520 --> 00:26:41,399
Speaker 1: to define success and value in my life for me.

512
00:26:42,359 --> 00:26:44,680
Speaker 1: So I would get online, I'd proNT out all these

513
00:26:44,680 --> 00:26:47,639
Speaker 1: budget templates, and I would follow the steps to a t.

514
00:26:48,560 --> 00:26:52,479
Speaker 1: But here's the thing with budgeting. Budgeting should be based

515
00:26:52,520 --> 00:26:56,280
Speaker 1: on what you are actually spending, not what you want

516
00:26:56,359 --> 00:26:59,199
Speaker 1: to spend or what someone else is telling you you

517
00:26:59,200 --> 00:27:02,760
Speaker 1: should spend. And so what happens when when you start

518
00:27:02,840 --> 00:27:06,600
Speaker 1: copying someone else's budget you start doing what I call

519
00:27:06,800 --> 00:27:11,560
Speaker 1: robot work. And the only thing that really makes implementing

520
00:27:11,720 --> 00:27:15,520
Speaker 1: a budget in your life a possibility is if you

521
00:27:15,760 --> 00:27:19,520
Speaker 1: feel successful when you do it, And it's really hard

522
00:27:19,560 --> 00:27:23,000
Speaker 1: to feel successful with your money if you are blindly

523
00:27:23,119 --> 00:27:26,840
Speaker 1: following someone else's steps and budgets and don't understand why

524
00:27:26,880 --> 00:27:30,000
Speaker 1: you're doing that. Okay, that was my biggest mistake in

525
00:27:30,040 --> 00:27:33,720
Speaker 1: the beginning. So the first thing to realize about making

526
00:27:33,840 --> 00:27:36,639
Speaker 1: and implementing a budget is that it needs to be

527
00:27:36,720 --> 00:27:40,360
Speaker 1: based at your real starting point what you're actually spending,

528
00:27:40,880 --> 00:27:43,280
Speaker 1: not what you want to spend. And that can be

529
00:27:43,320 --> 00:27:45,679
Speaker 1: really scary for some people because that means you have

530
00:27:45,760 --> 00:27:48,320
Speaker 1: to track your spending and actually know where it's going,

531
00:27:48,800 --> 00:27:51,600
Speaker 1: what's coming in, and what's going out. And it's so

532
00:27:51,680 --> 00:27:55,560
Speaker 1: funny because of the people that follow this step in

533
00:27:55,640 --> 00:28:00,760
Speaker 1: my budget by paycheck method, they go, oh, my gosh,

534
00:28:00,880 --> 00:28:02,600
Speaker 1: it's kind of like that slap in the face like

535
00:28:02,640 --> 00:28:04,840
Speaker 1: my H and M experience. For them, it's like, I

536
00:28:04,920 --> 00:28:07,360
Speaker 1: had no idea I was spending a thousand dollars eating out.

537
00:28:08,400 --> 00:28:10,480
Speaker 1: But here's the problem. They then go and create their

538
00:28:10,480 --> 00:28:13,640
Speaker 1: budgets and they put five dollars for their food budget

539
00:28:14,480 --> 00:28:17,760
Speaker 1: even though they're truly spending a thousand dollars. Look, we're

540
00:28:17,760 --> 00:28:19,440
Speaker 1: all going to be starting in a place we don't

541
00:28:19,480 --> 00:28:22,760
Speaker 1: want to be at. Trust me, when I created my budget,

542
00:28:23,119 --> 00:28:25,280
Speaker 1: I was in the red. I was spending more on

543
00:28:25,400 --> 00:28:28,120
Speaker 1: things that I knew I shouldn't. But that's okay because

544
00:28:28,200 --> 00:28:31,760
Speaker 1: it has to do with recognition. And when you know

545
00:28:32,040 --> 00:28:36,040
Speaker 1: a realistic starting place, that's when you can start making

546
00:28:36,080 --> 00:28:41,440
Speaker 1: incremental changes to make your budget better and more useful

547
00:28:41,800 --> 00:28:47,120
Speaker 1: and more efficient and more effective. And that realistic type

548
00:28:47,120 --> 00:28:50,560
Speaker 1: of component that we're talking about is what's going to

549
00:28:50,640 --> 00:28:52,440
Speaker 1: lead to doing one of the most hardest things. It

550
00:28:52,520 --> 00:28:54,800
Speaker 1: is when comes the budget and creating a budget that's

551
00:28:54,800 --> 00:28:58,600
Speaker 1: the easy part. Implementing it and actually sticking to it

552
00:28:58,640 --> 00:29:01,880
Speaker 1: in your life is the hardesty. And so that realistic

553
00:29:01,920 --> 00:29:06,160
Speaker 1: component is really the first step in the budgeting process. Okay,

554
00:29:06,160 --> 00:29:08,800
Speaker 1: so so being realistic, I agree. I think that's that's huge.

555
00:29:08,800 --> 00:29:11,360
Speaker 1: And I think if we're creating something that's unrealistic and

556
00:29:11,360 --> 00:29:14,200
Speaker 1: we're trying to to pull the reins back too hard

557
00:29:14,240 --> 00:29:17,080
Speaker 1: too quick, it's it's gonna lead to us faltering. But

558
00:29:17,240 --> 00:29:19,440
Speaker 1: right now, like we're at the beginning of a new year,

559
00:29:19,480 --> 00:29:22,080
Speaker 1: there's a lot of energy for a lot of people. Uh,

560
00:29:22,120 --> 00:29:24,560
Speaker 1: there's a lot of optimism, a lot of hope about

561
00:29:24,800 --> 00:29:28,560
Speaker 1: what they'll be able to accomplish this year. And so

562
00:29:28,560 --> 00:29:31,400
Speaker 1: so how do we make budgeting sustainable? I think I

563
00:29:31,400 --> 00:29:34,080
Speaker 1: think I saw that maybe you you sit down for

564
00:29:34,200 --> 00:29:36,200
Speaker 1: ten or fifteen minutes which you're with your budget every

565
00:29:36,240 --> 00:29:39,080
Speaker 1: single morning, Like is that something you recommend or or

566
00:29:39,080 --> 00:29:44,240
Speaker 1: how do people avoid uh like having these awesome thoughts

567
00:29:44,240 --> 00:29:47,360
Speaker 1: and hopes for their money this year and creating tracking

568
00:29:47,360 --> 00:29:49,719
Speaker 1: starting to track their spending and and and and creating

569
00:29:49,720 --> 00:29:51,840
Speaker 1: an actual budget that they plan to live by and

570
00:29:51,880 --> 00:29:55,760
Speaker 1: not crashing and burning like in February. Yeah. Absolutely, Yeah.

571
00:29:55,800 --> 00:29:57,440
Speaker 1: It's like one of those things where you're like, I'm

572
00:29:57,440 --> 00:30:00,440
Speaker 1: going to go to the gym every single day year

573
00:30:00,480 --> 00:30:03,480
Speaker 1: and and then and then what happens is at the

574
00:30:03,560 --> 00:30:05,600
Speaker 1: end of January you walk into the gym and it's

575
00:30:05,680 --> 00:30:07,760
Speaker 1: just like a dead zone. There's no one in there

576
00:30:07,920 --> 00:30:10,040
Speaker 1: right right, because you get to that point where you're like,

577
00:30:10,240 --> 00:30:13,560
Speaker 1: this is not sustainable. So one of the things that

578
00:30:13,600 --> 00:30:16,080
Speaker 1: I recommend is that you have to make time for

579
00:30:16,160 --> 00:30:20,480
Speaker 1: what's important to you. Correct So if this is important

580
00:30:20,520 --> 00:30:23,280
Speaker 1: to you and this is this is a financial change

581
00:30:23,320 --> 00:30:26,520
Speaker 1: you want to make, then you have to prioritize that

582
00:30:26,600 --> 00:30:30,200
Speaker 1: time in your life period. And one of that that

583
00:30:30,280 --> 00:30:34,440
Speaker 1: means is setting up a financial routine in your life. Now,

584
00:30:34,480 --> 00:30:37,400
Speaker 1: I've been budgeting and doing this for over eleven years,

585
00:30:38,080 --> 00:30:42,080
Speaker 1: and I still every single day sit down for five

586
00:30:42,120 --> 00:30:44,440
Speaker 1: to ten minutes and go over my spending in my

587
00:30:44,520 --> 00:30:49,200
Speaker 1: budget because what I have found is that gives me

588
00:30:49,360 --> 00:30:52,040
Speaker 1: the peace of mind knowing I am making the best

589
00:30:52,080 --> 00:30:56,760
Speaker 1: financial decisions today based on what I was able to

590
00:30:57,240 --> 00:31:00,960
Speaker 1: review and study during that five even ten minutes. It's

591
00:31:01,000 --> 00:31:05,040
Speaker 1: like knowing and being aware of where I am financially

592
00:31:05,080 --> 00:31:09,640
Speaker 1: do that is like that right there is absolutely life

593
00:31:09,720 --> 00:31:12,880
Speaker 1: changing because it gives you something that we all are chasing,

594
00:31:13,840 --> 00:31:18,320
Speaker 1: and that's peace of mind. And there is no dollar

595
00:31:18,360 --> 00:31:23,000
Speaker 1: amount in the world to me that really can give

596
00:31:23,080 --> 00:31:25,640
Speaker 1: you the peace of mind. There's no there's no value

597
00:31:25,680 --> 00:31:30,040
Speaker 1: to it. It's absolutely invaluable. And so having that and

598
00:31:30,040 --> 00:31:33,520
Speaker 1: setting up that financial routine and making sure that you're

599
00:31:33,600 --> 00:31:36,760
Speaker 1: consistent with it. Remember we're all about building habits, and

600
00:31:36,760 --> 00:31:39,920
Speaker 1: with habits, that has to be consistency. So that is

601
00:31:40,000 --> 00:31:42,280
Speaker 1: one way building that financial routine in your life. And

602
00:31:42,280 --> 00:31:43,600
Speaker 1: that can be any time. It doesn't have to be

603
00:31:43,680 --> 00:31:45,920
Speaker 1: in the morning. Like me, Okay, I do that because

604
00:31:45,920 --> 00:31:47,920
Speaker 1: I do it in the morning before my son gets up,

605
00:31:47,920 --> 00:31:51,160
Speaker 1: and I can do it without distractions. Maybe that's after

606
00:31:51,240 --> 00:31:53,840
Speaker 1: you put your kiddo down to bed, or maybe when

607
00:31:54,480 --> 00:31:56,320
Speaker 1: you know you have some quiet time with your spouse

608
00:31:56,400 --> 00:31:58,680
Speaker 1: or your partner to sit down and do that, whatever

609
00:31:58,720 --> 00:32:01,000
Speaker 1: it may be, but they're has to be some type

610
00:32:01,000 --> 00:32:03,360
Speaker 1: of routine in your life. Yeah, like what you said

611
00:32:03,360 --> 00:32:05,400
Speaker 1: to just how it'll lets you know where you are currently.

612
00:32:05,440 --> 00:32:07,480
Speaker 1: Because it makes me think about like imagine if any

613
00:32:07,520 --> 00:32:09,560
Speaker 1: of like on our phones, like the maps app, if

614
00:32:09,560 --> 00:32:11,680
Speaker 1: it didn't have like the location services where you've got

615
00:32:11,720 --> 00:32:13,560
Speaker 1: the little triangle and it puts it like plots you

616
00:32:13,640 --> 00:32:16,440
Speaker 1: on the map. If you're constantly just randomly looking at

617
00:32:16,440 --> 00:32:18,560
Speaker 1: a map and trying to figure out like generally speaking,

618
00:32:18,640 --> 00:32:21,200
Speaker 1: I need to kind of go north, Well, there's only

619
00:32:21,240 --> 00:32:23,480
Speaker 1: so far you can you can get with that, Whereas

620
00:32:23,680 --> 00:32:25,440
Speaker 1: if you know exactly where you are, then you know

621
00:32:25,480 --> 00:32:27,280
Speaker 1: the next step, you know the next turn you need

622
00:32:27,320 --> 00:32:28,800
Speaker 1: to take. And I think that's so important when it

623
00:32:28,840 --> 00:32:31,920
Speaker 1: comes to your budget and figuring out the next moves

624
00:32:31,920 --> 00:32:34,520
Speaker 1: that you're gonna make with your budget. Uh, and can

625
00:32:34,520 --> 00:32:36,120
Speaker 1: you go on that note, We're gonna talk here a

626
00:32:36,120 --> 00:32:39,520
Speaker 1: little bit more about your sinking funds. We want to

627
00:32:39,520 --> 00:32:41,600
Speaker 1: have you explain what those are, and we're gonna hear

628
00:32:41,640 --> 00:32:52,680
Speaker 1: some final words of encouragement right after this break. All right,

629
00:32:52,720 --> 00:32:55,120
Speaker 1: we're back to the break. You're still talking with Kumiko

630
00:32:55,320 --> 00:32:58,680
Speaker 1: Love about budgeting, about taking back control of your financial life.

631
00:32:58,960 --> 00:33:02,240
Speaker 1: So much good stuff all ready. And one of the things, Tomiko,

632
00:33:02,400 --> 00:33:04,120
Speaker 1: that I read in your book that just kind of

633
00:33:04,240 --> 00:33:07,959
Speaker 1: struck me as just beautiful, and I'm also like, I

634
00:33:08,000 --> 00:33:11,000
Speaker 1: think this is true, but I'm also like how true

635
00:33:11,040 --> 00:33:13,440
Speaker 1: can this be? Is? Is you say that anybody can

636
00:33:13,480 --> 00:33:16,880
Speaker 1: make progress on their current income, that more money isn't

637
00:33:16,920 --> 00:33:18,880
Speaker 1: always the answer. And Matt, and now we've talked about this,

638
00:33:18,920 --> 00:33:22,800
Speaker 1: there's so many people making six figures, still struggling, still

639
00:33:22,840 --> 00:33:25,640
Speaker 1: living paycheck to paycheck, saying that they can't make any progress.

640
00:33:25,640 --> 00:33:28,880
Speaker 1: And so in so many ways, I agree, But what

641
00:33:29,080 --> 00:33:31,840
Speaker 1: is the answer then, Like, if more money isn't the answer,

642
00:33:32,200 --> 00:33:34,800
Speaker 1: how how are people who are like, no, no, I

643
00:33:34,840 --> 00:33:37,320
Speaker 1: need more money to make this budget work? Um? How

644
00:33:37,320 --> 00:33:39,240
Speaker 1: are they supposed to do it? Yeah? So it's so

645
00:33:39,280 --> 00:33:41,960
Speaker 1: funny that you brought this up because recently I kind

646
00:33:41,960 --> 00:33:44,320
Speaker 1: of addressed this question. Um, I talk about it in

647
00:33:44,320 --> 00:33:46,080
Speaker 1: the book, but I also kind of addressed it on

648
00:33:46,080 --> 00:33:48,640
Speaker 1: my Instagram. And that is the question that I think

649
00:33:48,640 --> 00:33:52,520
Speaker 1: all of us are kind of wondering. Can money by happiness?

650
00:33:53,200 --> 00:33:57,400
Speaker 1: Does more money equate to more happiness? And I think

651
00:33:57,440 --> 00:34:00,480
Speaker 1: it really does depend on the person you are asking

652
00:34:00,560 --> 00:34:03,400
Speaker 1: in their perspective, because you're going to get a lot

653
00:34:03,480 --> 00:34:07,360
Speaker 1: different answer asking that of someone who is maybe struggling financially,

654
00:34:07,360 --> 00:34:12,040
Speaker 1: who is poor, versus someone who does have their financial

655
00:34:12,040 --> 00:34:14,759
Speaker 1: means in their life. And the reason I say that

656
00:34:14,880 --> 00:34:18,000
Speaker 1: is because I've been on both ends of the spectrum.

657
00:34:18,280 --> 00:34:20,640
Speaker 1: I've been in that place where I was struggling financially,

658
00:34:20,640 --> 00:34:22,719
Speaker 1: where I had to make the decision between keeping my

659
00:34:22,800 --> 00:34:25,880
Speaker 1: lights on and putting food on the table, versus to

660
00:34:25,880 --> 00:34:29,080
Speaker 1: where I am today in a much more privileged financial

661
00:34:29,120 --> 00:34:31,799
Speaker 1: spot in my financial journey than I was, say, ten

662
00:34:31,880 --> 00:34:35,600
Speaker 1: years ago. So I think it is absolutely possible to

663
00:34:35,719 --> 00:34:39,840
Speaker 1: make progress right now without adding a dollar more of

664
00:34:39,960 --> 00:34:43,520
Speaker 1: income to your life. Now. Of course, we should all

665
00:34:43,560 --> 00:34:46,400
Speaker 1: be striving to earn more money as we go along

666
00:34:46,400 --> 00:34:51,440
Speaker 1: on this financial journey. However, though, you're not stuck where

667
00:34:51,480 --> 00:34:55,360
Speaker 1: you are today without making another dollar. So really it

668
00:34:55,480 --> 00:34:59,800
Speaker 1: comes down to looking at what you have and making

669
00:35:00,080 --> 00:35:02,640
Speaker 1: the most useful tool that you can right now where

670
00:35:02,680 --> 00:35:05,720
Speaker 1: you are financially. And we go on all these different

671
00:35:05,760 --> 00:35:08,359
Speaker 1: steps in the book on how you do that um,

672
00:35:08,400 --> 00:35:12,560
Speaker 1: and I think too, it's also recognizing your savings potential.

673
00:35:13,560 --> 00:35:15,160
Speaker 1: And what I mean by that, and I know we're

674
00:35:15,200 --> 00:35:18,640
Speaker 1: gonna be getting into sinking funds is every single year

675
00:35:18,719 --> 00:35:21,520
Speaker 1: we put on these savings challenges for my community members.

676
00:35:21,520 --> 00:35:23,960
Speaker 1: We've been doing it the last three years, and you

677
00:35:24,000 --> 00:35:27,480
Speaker 1: would be surprised how many people said, oh, my gosh,

678
00:35:27,600 --> 00:35:30,920
Speaker 1: I had no idea I could save that much. And

679
00:35:30,960 --> 00:35:33,319
Speaker 1: the fun thing about the savings challenges, we don't ask

680
00:35:33,360 --> 00:35:35,439
Speaker 1: them to go earn more income. In fact, we don't

681
00:35:35,440 --> 00:35:38,720
Speaker 1: even ask them to change their budget. This is simply

682
00:35:38,920 --> 00:35:42,560
Speaker 1: finding dollars they didn't know they had and making the

683
00:35:42,640 --> 00:35:46,799
Speaker 1: conscious decision to save it rather than spend it. And

684
00:35:46,840 --> 00:35:49,320
Speaker 1: so I do absolutely thinks that I think it's possible

685
00:35:49,360 --> 00:35:52,480
Speaker 1: to make progress on your financial journey, because remember, progress

686
00:35:53,120 --> 00:35:56,440
Speaker 1: is not just about the numbers. We're talking about the

687
00:35:56,480 --> 00:36:00,640
Speaker 1: three things of a financially fulfilled life, clarity, stability, and confidence.

688
00:36:01,080 --> 00:36:04,319
Speaker 1: If you can reach those three things, you absolutely have

689
00:36:04,480 --> 00:36:07,080
Speaker 1: changed the games when it comes to your finances of money,

690
00:36:07,160 --> 00:36:09,799
Speaker 1: even if you're not earning any more money. Yeah. Absolutely,

691
00:36:09,920 --> 00:36:14,839
Speaker 1: Remember this is internal, right, We're talking about you, not

692
00:36:15,040 --> 00:36:17,920
Speaker 1: so much the money that's in your life, because this

693
00:36:17,920 --> 00:36:21,200
Speaker 1: this journey of a financial change really does start an

694
00:36:21,360 --> 00:36:24,799
Speaker 1: end with you. That's right. Yeah. Money it comes in

695
00:36:24,840 --> 00:36:27,360
Speaker 1: and it goes out like it's uh, it's just it's

696
00:36:27,400 --> 00:36:30,239
Speaker 1: constantly flowing. It's just about figuring out what is our

697
00:36:30,280 --> 00:36:32,560
Speaker 1: perspective going to be of that money that comes into

698
00:36:32,560 --> 00:36:35,319
Speaker 1: our lives and the money that that leaves us. And

699
00:36:35,600 --> 00:36:37,560
Speaker 1: you alluded to it, so let's talk about like living

700
00:36:37,560 --> 00:36:40,440
Speaker 1: life and sinking funds and how that helps us to

701
00:36:40,520 --> 00:36:42,480
Speaker 1: achieve the things we're looking for. Can we go? You know,

702
00:36:42,680 --> 00:36:45,040
Speaker 1: you say that you shouldn't stop living life just because

703
00:36:45,320 --> 00:36:47,920
Speaker 1: you have debts. We totally agree. And so what's your

704
00:36:47,920 --> 00:36:49,800
Speaker 1: advice for folks who still have, you know, like the

705
00:36:49,880 --> 00:36:51,960
Speaker 1: lingering credit card debt, or they've got student loan debt

706
00:36:52,280 --> 00:36:54,480
Speaker 1: and their lives, but they also do want to, you know,

707
00:36:54,520 --> 00:36:57,080
Speaker 1: start saving towards some of those future goals. Yeah. You know,

708
00:36:57,200 --> 00:37:00,880
Speaker 1: my biggest discovery on this journey is if it's too short,

709
00:37:01,719 --> 00:37:04,520
Speaker 1: and unfortunately I've had to lose people in my life

710
00:37:04,680 --> 00:37:08,359
Speaker 1: to recognize that, but it also gave me this really

711
00:37:08,440 --> 00:37:11,600
Speaker 1: unique approach to the management of my money, and I

712
00:37:11,640 --> 00:37:15,440
Speaker 1: am grateful and blessed about that. It's very true just

713
00:37:15,560 --> 00:37:19,400
Speaker 1: because you have debt doesn't mean you have to stop living.

714
00:37:20,200 --> 00:37:22,400
Speaker 1: Doesn't mean that we put our lives on hold and

715
00:37:22,480 --> 00:37:26,200
Speaker 1: hope for something better tomorrow. Because the truth is as

716
00:37:26,200 --> 00:37:28,520
Speaker 1: sad and it is to think about, is we could

717
00:37:28,560 --> 00:37:33,759
Speaker 1: be gone tomorrow, and this amazing short life that we

718
00:37:33,840 --> 00:37:37,200
Speaker 1: have been blessed with, I feel like we have to

719
00:37:37,400 --> 00:37:40,480
Speaker 1: use it to the best of our abilities. And live

720
00:37:40,560 --> 00:37:43,600
Speaker 1: the best life that we can. And any time we

721
00:37:43,719 --> 00:37:47,360
Speaker 1: have debt, obviously there has to be sacrifices and tradeoffs

722
00:37:47,400 --> 00:37:49,640
Speaker 1: in our lives. But the beautiful thing about that is

723
00:37:49,719 --> 00:37:53,560
Speaker 1: you get to decide what your tradeoffs are. Now, when

724
00:37:53,560 --> 00:37:57,239
Speaker 1: I had debt, I still did Christmas presents for my son.

725
00:37:58,160 --> 00:38:00,640
Speaker 1: I still went on vacations that I chose to say

726
00:38:00,760 --> 00:38:04,560
Speaker 1: four in cash. I didn't stop living my life. I

727
00:38:04,760 --> 00:38:07,840
Speaker 1: just took control of the trade offs I was making

728
00:38:08,800 --> 00:38:12,040
Speaker 1: and ultimately what was more important to me versus maybe

729
00:38:12,080 --> 00:38:14,359
Speaker 1: other some some other things that I was giving up

730
00:38:14,360 --> 00:38:18,359
Speaker 1: at the time. So sinking funds was developed in my

731
00:38:18,440 --> 00:38:23,000
Speaker 1: life because of actually Christmas. So I was this I

732
00:38:23,200 --> 00:38:26,200
Speaker 1: was this mom that would go out, you know, I

733
00:38:26,239 --> 00:38:28,360
Speaker 1: was dealing with of course mom guilt and team and

734
00:38:28,400 --> 00:38:30,840
Speaker 1: I would go out and blow thousands of dollars on

735
00:38:30,960 --> 00:38:36,719
Speaker 1: Christmas for my kiddo and my family. And he tells it, yes,

736
00:38:37,239 --> 00:38:41,280
Speaker 1: And here's the thing. The next Christmas that rolled around,

737
00:38:41,320 --> 00:38:44,720
Speaker 1: I was still paying off Christmas expenses on my credit

738
00:38:44,760 --> 00:38:47,759
Speaker 1: card from the year before. Okay, that's how bad it was.

739
00:38:48,840 --> 00:38:52,040
Speaker 1: And I realized, oh my gosh, you know what Christmas

740
00:38:52,080 --> 00:38:55,880
Speaker 1: comes every year? I know it's coming. Why am I

741
00:38:55,960 --> 00:38:59,879
Speaker 1: not preparing for it? It's an expense every single year

742
00:39:00,000 --> 00:39:02,160
Speaker 1: I know is coming. How how come I'm not preparing

743
00:39:02,160 --> 00:39:04,279
Speaker 1: for it? So I started saving it a little bit

744
00:39:04,320 --> 00:39:09,920
Speaker 1: every single paycheck to prepare financially for Christmas. And you know,

745
00:39:10,000 --> 00:39:13,160
Speaker 1: I started doing this about halfway through my financial journey,

746
00:39:13,320 --> 00:39:15,359
Speaker 1: and so I you know, I learned to rein in

747
00:39:15,840 --> 00:39:19,080
Speaker 1: my desires and my expectations of what a good mom

748
00:39:19,200 --> 00:39:21,319
Speaker 1: is supposed to be and what Christmas should be like

749
00:39:21,400 --> 00:39:24,200
Speaker 1: for my son. I started, you know, wanting to do

750
00:39:24,280 --> 00:39:28,279
Speaker 1: more experiences rather than materialistic things for my son, which

751
00:39:28,320 --> 00:39:31,040
Speaker 1: also brought down my Christmas spending. And like I said,

752
00:39:31,080 --> 00:39:33,719
Speaker 1: this is a self discovery journey. But sinking funds is

753
00:39:33,800 --> 00:39:39,320
Speaker 1: all about preparing financially for a plan or expected expense

754
00:39:39,400 --> 00:39:43,239
Speaker 1: or purchase or event in the future. Right, how many

755
00:39:43,320 --> 00:39:46,320
Speaker 1: times have we said to ourselves, Oh, I couldn't prepare

756
00:39:46,360 --> 00:39:48,239
Speaker 1: for that, or it just popped up in my life

757
00:39:48,239 --> 00:39:50,360
Speaker 1: and it wasn't in my budget, so it derailed my budget.

758
00:39:50,480 --> 00:39:53,320
Speaker 1: Or these little expenses that keep popping up or ruining

759
00:39:53,320 --> 00:39:55,200
Speaker 1: my budget and they're ruining my spending. Wright we've all

760
00:39:55,239 --> 00:39:57,600
Speaker 1: said this kind of these kind of things to ourselves.

761
00:39:58,239 --> 00:40:03,120
Speaker 1: But here's the thing, are very unpredictable. Lives are more

762
00:40:03,120 --> 00:40:06,680
Speaker 1: predictable than we may think. Okay, then that's part of

763
00:40:06,680 --> 00:40:10,480
Speaker 1: the budgeting process is when you make your budget realistic,

764
00:40:10,560 --> 00:40:13,080
Speaker 1: you realize that budgeting is about way more than just

765
00:40:13,160 --> 00:40:18,600
Speaker 1: paying bills. It's a road map to our lives in general. Okay,

766
00:40:18,640 --> 00:40:21,080
Speaker 1: we're we're preparing and putting things in our budget that

767
00:40:21,120 --> 00:40:24,520
Speaker 1: have to do with our real lives. Doctor's appointments, birthday

768
00:40:24,520 --> 00:40:28,239
Speaker 1: parties for our kiddos, nights out with friends, date nights. Right,

769
00:40:28,280 --> 00:40:31,319
Speaker 1: all these things are things that we know are going

770
00:40:31,360 --> 00:40:34,440
Speaker 1: to happen in our lives. We're just kind of not

771
00:40:34,560 --> 00:40:36,799
Speaker 1: looking at them and preparing for them. The way that

772
00:40:36,840 --> 00:40:38,360
Speaker 1: we need to be in our budget to be the

773
00:40:38,400 --> 00:40:40,960
Speaker 1: most successful with our money and sinking funds is a

774
00:40:41,080 --> 00:40:45,840
Speaker 1: very amazing strategy and way of managing our money to

775
00:40:45,960 --> 00:40:49,160
Speaker 1: do that. So talk to me about the mechanics of

776
00:40:49,200 --> 00:40:52,719
Speaker 1: how how you handle sinking funds, Like, what's a good

777
00:40:52,719 --> 00:40:55,160
Speaker 1: way for someone to incorporate it. They're saying, Okay, I

778
00:40:55,200 --> 00:40:57,200
Speaker 1: hear what Kimika saying. I need to start planning ahead

779
00:40:57,239 --> 00:40:59,319
Speaker 1: for maybe four or five of these things. Maybe even

780
00:40:59,360 --> 00:41:02,400
Speaker 1: now I'll start a sinking fund for Christmas at the

781
00:41:02,480 --> 00:41:05,319
Speaker 1: end of this year, Like, how, how, how do you

782
00:41:05,320 --> 00:41:08,080
Speaker 1: actually like go about starting that? Yeah, so the number

783
00:41:08,120 --> 00:41:10,440
Speaker 1: one thing that happens is I mentioned sinking funds and

784
00:41:10,480 --> 00:41:13,120
Speaker 1: community member, my community members will run out and by

785
00:41:13,120 --> 00:41:16,879
Speaker 1: the time they're done, they have thirty different sinking right,

786
00:41:16,880 --> 00:41:19,320
Speaker 1: and they try incorporating saving for all these things in

787
00:41:19,360 --> 00:41:22,080
Speaker 1: their budget. But that's really not what it's about. It's

788
00:41:22,120 --> 00:41:25,680
Speaker 1: about creating sinking funds for things that are putting us

789
00:41:25,719 --> 00:41:29,560
Speaker 1: into debt year after year, over and over, or situations

790
00:41:29,560 --> 00:41:32,440
Speaker 1: where we feel pressured to use our credit cards. Now,

791
00:41:32,440 --> 00:41:34,920
Speaker 1: when I was in seventy seven thousand dollars worth of debt,

792
00:41:35,200 --> 00:41:37,600
Speaker 1: I had one sinking fund, just one, and it was

793
00:41:37,680 --> 00:41:40,440
Speaker 1: Christmas because that was a time in my life year

794
00:41:40,480 --> 00:41:43,080
Speaker 1: after year where I felt the most pressured to use

795
00:41:43,120 --> 00:41:45,080
Speaker 1: my credit card and that I was going into debt,

796
00:41:45,120 --> 00:41:48,280
Speaker 1: sever your debt, and so I started there. I started

797
00:41:48,280 --> 00:41:54,279
Speaker 1: with one. Remember, this is all about personal prioritization and

798
00:41:54,400 --> 00:41:56,880
Speaker 1: importance in your life. Now for you, maybe it may

799
00:41:56,920 --> 00:41:59,640
Speaker 1: not be Christmas. Maybe you're thinking to yourself, oh my gosh,

800
00:41:59,680 --> 00:42:01,480
Speaker 1: every year I spent a ton of money on my

801
00:42:01,520 --> 00:42:04,960
Speaker 1: mom's birthday. Can we go out crazy, you know, vacation

802
00:42:05,080 --> 00:42:07,000
Speaker 1: or party and I spend way too much. It might

803
00:42:07,000 --> 00:42:10,680
Speaker 1: be something completely different to you, but start with maybe

804
00:42:10,719 --> 00:42:14,680
Speaker 1: one or two, especially if you have debt and you

805
00:42:14,760 --> 00:42:19,440
Speaker 1: have high interest debt. Start with one or two important

806
00:42:19,560 --> 00:42:22,000
Speaker 1: priorities in your life when it comes to planning and

807
00:42:22,040 --> 00:42:26,000
Speaker 1: preparing for future planned expenses, and then you can build

808
00:42:26,040 --> 00:42:29,200
Speaker 1: from there. I started with one. I now have over twelve.

809
00:42:29,880 --> 00:42:32,200
Speaker 1: But my situation is also very different than from where

810
00:42:32,239 --> 00:42:35,040
Speaker 1: I started, right, It's a progression. We call this a

811
00:42:35,120 --> 00:42:39,719
Speaker 1: financial transformation. It's not a quick change. It's something that

812
00:42:39,800 --> 00:42:43,600
Speaker 1: we are transformed as we go along. But we have

813
00:42:43,760 --> 00:42:47,680
Speaker 1: to set ourselves up for success in the beginning, not failure.

814
00:42:48,480 --> 00:42:51,239
Speaker 1: And one of the ways that we do that is

815
00:42:51,280 --> 00:42:56,320
Speaker 1: by making realistic, incremental changes as we go not these

816
00:42:56,360 --> 00:42:59,800
Speaker 1: big ginormous changes that we know we're not going to

817
00:42:59,840 --> 00:43:05,080
Speaker 1: be able to accomplish, but rather these small steps that

818
00:43:05,120 --> 00:43:08,600
Speaker 1: we can do time and time again throughout our financial

819
00:43:08,640 --> 00:43:11,799
Speaker 1: journey to ultimately reach the bigger picture that we have

820
00:43:11,880 --> 00:43:15,000
Speaker 1: in our minds. I like how and you mentioned this

821
00:43:15,040 --> 00:43:17,480
Speaker 1: earlier on as well, but just like that, self discipline,

822
00:43:17,680 --> 00:43:20,120
Speaker 1: and it's really hard to maintain that self discipline if

823
00:43:20,120 --> 00:43:22,359
Speaker 1: you're making drastic changes as opposed to some of these small,

824
00:43:22,440 --> 00:43:25,719
Speaker 1: more sustainable steps like you're mentioning Comico. And one last

825
00:43:25,760 --> 00:43:27,400
Speaker 1: thing I wanted to kind of ask you about. You

826
00:43:27,440 --> 00:43:30,560
Speaker 1: close your book talking about how like there isn't this

827
00:43:30,719 --> 00:43:33,840
Speaker 1: finish line right when it comes to our personal finances.

828
00:43:34,000 --> 00:43:38,000
Speaker 1: Can you explain the mindsets that you're talking about there? Yeah,

829
00:43:38,120 --> 00:43:41,000
Speaker 1: so you know, for the longest time, for years and years,

830
00:43:41,000 --> 00:43:43,520
Speaker 1: I told myself, if I could just pay off my debt,

831
00:43:43,960 --> 00:43:47,120
Speaker 1: I will have finally made it right. If I just

832
00:43:47,160 --> 00:43:50,360
Speaker 1: paid off my debt, then everything I've ever wanted would

833
00:43:50,360 --> 00:43:54,000
Speaker 1: magically happen and appear in my life. And after I

834
00:43:54,040 --> 00:43:58,120
Speaker 1: paid off my debt and I was a debt free,

835
00:43:58,760 --> 00:44:02,200
Speaker 1: I realized my jur me was far from over. It

836
00:44:02,239 --> 00:44:05,760
Speaker 1: didn't end there right now. It was time to focus

837
00:44:05,800 --> 00:44:09,120
Speaker 1: on other financial goals. Because here's here's the reality here.

838
00:44:09,840 --> 00:44:11,719
Speaker 1: No matter where we are, how old we are, how

839
00:44:11,760 --> 00:44:14,560
Speaker 1: young we are, money will always be part of our lives.

840
00:44:15,320 --> 00:44:18,520
Speaker 1: It will always be there. It will always be spending it,

841
00:44:18,800 --> 00:44:21,680
Speaker 1: getting it, managing it. It will always be part of

842
00:44:21,680 --> 00:44:26,240
Speaker 1: our lives. And because of that fact, you'll always want

843
00:44:27,080 --> 00:44:29,160
Speaker 1: or need to do more with it. And what I

844
00:44:29,200 --> 00:44:31,080
Speaker 1: mean by that, like, after I paid off my debt,

845
00:44:31,239 --> 00:44:35,760
Speaker 1: I wanted to save for retirement. Why because I wanted

846
00:44:35,800 --> 00:44:37,920
Speaker 1: to spend the time that I have been given on

847
00:44:37,960 --> 00:44:40,959
Speaker 1: this earth as much as I possibly could with my son,

848
00:44:41,880 --> 00:44:45,440
Speaker 1: and that meant retiring early for me. But then I

849
00:44:45,480 --> 00:44:48,439
Speaker 1: also realized, you know, after I paid off my debt,

850
00:44:49,360 --> 00:44:55,240
Speaker 1: time frome homeownership, this big ginormous dream that I've had

851
00:44:55,600 --> 00:44:58,640
Speaker 1: for years after my divorce was something that I now

852
00:44:58,760 --> 00:45:02,240
Speaker 1: felt I could make a reality. There is no finish

853
00:45:02,320 --> 00:45:06,480
Speaker 1: line in the fact of we'll always spend it, manage it,

854
00:45:06,560 --> 00:45:10,240
Speaker 1: and have it. And because of that fact, we're always

855
00:45:10,280 --> 00:45:14,680
Speaker 1: going to be growing within ourselves and with our money

856
00:45:14,760 --> 00:45:17,120
Speaker 1: for the rest of our lives. But I think a

857
00:45:17,120 --> 00:45:19,000
Speaker 1: lot of people too, when they think about the finish line,

858
00:45:19,040 --> 00:45:22,000
Speaker 1: they kind of get discouraged. You're like, Okay, well, then

859
00:45:22,000 --> 00:45:23,360
Speaker 1: what the heck is the point of paying off my

860
00:45:23,400 --> 00:45:25,080
Speaker 1: debt if I just have to keep dealing with this

861
00:45:25,160 --> 00:45:28,160
Speaker 1: money crap for the rest of my life. Right. But

862
00:45:28,200 --> 00:45:30,359
Speaker 1: the thing is is you have to start looking at

863
00:45:30,400 --> 00:45:34,680
Speaker 1: your money and your finances as a tool, not as

864
00:45:34,680 --> 00:45:38,920
Speaker 1: a burden. Budgeting and all of this is not about

865
00:45:38,960 --> 00:45:45,200
Speaker 1: how it restricts you. It's about valuing yourself and ultimately,

866
00:45:45,239 --> 00:45:48,879
Speaker 1: it's about giving you a tool where your budget has

867
00:45:48,920 --> 00:45:53,239
Speaker 1: your back and it works for you. And once we

868
00:45:53,320 --> 00:45:56,360
Speaker 1: can get into that mindset of it's no longer a burden,

869
00:45:56,400 --> 00:46:00,640
Speaker 1: it's no longer work. Instead, we get excited because has

870
00:46:00,960 --> 00:46:05,399
Speaker 1: it allows us to ultimately live the life and reach

871
00:46:05,480 --> 00:46:08,239
Speaker 1: the goals that we are wanting. And I think that's

872
00:46:08,280 --> 00:46:12,239
Speaker 1: really powerful. Yeah, yeah, I agree, And Kimico, I think

873
00:46:12,560 --> 00:46:16,040
Speaker 1: your story is really powerful. I appreciate your philosophy. I

874
00:46:16,080 --> 00:46:19,759
Speaker 1: appreciate how intentional you've been in how you talk to

875
00:46:19,920 --> 00:46:23,759
Speaker 1: us about your story and and also to how you

876
00:46:23,800 --> 00:46:26,680
Speaker 1: shared it in your most in your new book that's

877
00:46:26,680 --> 00:46:28,919
Speaker 1: coming out soon. So, so, how can our listeners find

878
00:46:28,960 --> 00:46:31,160
Speaker 1: out more about you, what you're up to and about

879
00:46:31,200 --> 00:46:33,960
Speaker 1: your book. Yeah? Absolutely, So we're kind of on all

880
00:46:33,960 --> 00:46:37,120
Speaker 1: the socials. Um we're at on Instagram and that's kind

881
00:46:37,120 --> 00:46:39,760
Speaker 1: of where I share more more of my daily updates.

882
00:46:39,800 --> 00:46:42,680
Speaker 1: You can I share all of my real numbers, my

883
00:46:42,800 --> 00:46:46,680
Speaker 1: real budget, my real savings, everything on my Instagram at

884
00:46:46,680 --> 00:46:50,280
Speaker 1: the budget Mom. You can find really in depth detailed

885
00:46:50,360 --> 00:46:53,680
Speaker 1: videos on our YouTube channel, The budget Mom and also

886
00:46:53,920 --> 00:46:58,120
Speaker 1: are amazing community. Look, I will say this now, if

887
00:46:58,160 --> 00:47:01,560
Speaker 1: you are listening to this podcast, you are not alone.

888
00:47:02,360 --> 00:47:05,400
Speaker 1: No one should go through this financial journey feeling that

889
00:47:05,480 --> 00:47:09,080
Speaker 1: they do not have accountability or support. So that's why

890
00:47:09,120 --> 00:47:12,520
Speaker 1: we created the Budget Mom Family. It's a private Facebook

891
00:47:12,560 --> 00:47:16,560
Speaker 1: group made over a hundred thousand people from all around

892
00:47:16,600 --> 00:47:20,240
Speaker 1: the world, all with one single goal wanting to find

893
00:47:20,280 --> 00:47:23,000
Speaker 1: financial fulfillment in their lives. And they're there to support

894
00:47:23,040 --> 00:47:25,840
Speaker 1: you and help you and encourage you with no judgment.

895
00:47:26,360 --> 00:47:28,920
Speaker 1: And it's amazing support. So you can find the budget

896
00:47:29,000 --> 00:47:32,080
Speaker 1: Mom Family on Facebook. We'll make sure to link to

897
00:47:32,200 --> 00:47:34,239
Speaker 1: all of that. Kimiko, and thank you so much for

898
00:47:34,239 --> 00:47:36,359
Speaker 1: taking the time to talk with us today. Yeah, thank

899
00:47:36,400 --> 00:47:38,600
Speaker 1: you so much for having me. All right, Matt, that

900
00:47:38,680 --> 00:47:42,600
Speaker 1: was a great interview to start the year off. Like

901
00:47:42,640 --> 00:47:45,000
Speaker 1: I said, Man, I really do appreciate Comico story and

902
00:47:45,160 --> 00:47:47,920
Speaker 1: totally her enthusiasm and then just she really has like

903
00:47:48,000 --> 00:47:51,400
Speaker 1: created a philosophy and a way of thinking that people

904
00:47:51,480 --> 00:47:53,719
Speaker 1: can learn from and then stick to. So I think

905
00:47:53,719 --> 00:47:56,480
Speaker 1: it's super helpful. And um yeah, so what was your

906
00:47:56,480 --> 00:47:59,759
Speaker 1: big takeaway from our conversation with her? Yeah? I agree, man,

907
00:47:59,760 --> 00:48:02,600
Speaker 1: ill her approach My big takeaway isn't something that she

908
00:48:02,680 --> 00:48:05,960
Speaker 1: explicitly stated, Uh, well, I mean so she did say that.

909
00:48:05,960 --> 00:48:09,080
Speaker 1: She talked about incremental change and how when it comes

910
00:48:09,080 --> 00:48:11,319
Speaker 1: specifically when in regards to your budget, you know, like,

911
00:48:11,360 --> 00:48:13,600
Speaker 1: this is the budget, mom, this is comico love. I

912
00:48:13,600 --> 00:48:15,120
Speaker 1: want to focus on a takeaway that has to do

913
00:48:15,120 --> 00:48:16,920
Speaker 1: with budgeting, and she touched on the fact that when

914
00:48:16,920 --> 00:48:19,160
Speaker 1: you create a budget, it needs to be realistic and

915
00:48:19,200 --> 00:48:22,000
Speaker 1: then over time you can make incremental changes to it

916
00:48:22,040 --> 00:48:25,120
Speaker 1: to slowly ratchet it up, right, to slowly tighten the

917
00:48:25,160 --> 00:48:28,120
Speaker 1: belt so that it's something that you are able to

918
00:48:28,320 --> 00:48:31,239
Speaker 1: successfully challenge yourself to do, as opposed to just right

919
00:48:31,280 --> 00:48:33,279
Speaker 1: out of the gate doing something super extreme where you

920
00:48:33,280 --> 00:48:35,880
Speaker 1: immediately fall off that wagon. That's just something that stood

921
00:48:35,920 --> 00:48:38,800
Speaker 1: out to me because I think oftentimes folk, yeah, folks

922
00:48:38,800 --> 00:48:41,560
Speaker 1: aren't realistic, and instead you need to start from maybe

923
00:48:41,560 --> 00:48:44,000
Speaker 1: a place that you're not completely happy with. But over

924
00:48:44,040 --> 00:48:46,040
Speaker 1: time then you can make those small changes and you

925
00:48:46,040 --> 00:48:49,400
Speaker 1: can find ways to reduce some of those categories of spending.

926
00:48:49,440 --> 00:48:51,720
Speaker 1: You know, over time, you can maybe cut ten percent

927
00:48:51,960 --> 00:48:54,120
Speaker 1: off of your eating out budget as opposed to slashing

928
00:48:54,160 --> 00:48:56,919
Speaker 1: it in half percent. That sounds way more sustainable than

929
00:48:57,400 --> 00:48:59,880
Speaker 1: trying to slash it in half and immediately failing. Yeah,

930
00:49:00,000 --> 00:49:02,680
Speaker 1: trying to make all the progress overnight, and you're gonna

931
00:49:02,680 --> 00:49:05,359
Speaker 1: fall flood on your face. Typically it's really really hard

932
00:49:05,400 --> 00:49:09,120
Speaker 1: to go, uh from all to nothing? Right? What about you? So?

933
00:49:09,239 --> 00:49:11,080
Speaker 1: I don't know, man, that there were a lot of things.

934
00:49:11,200 --> 00:49:13,040
Speaker 1: I think the thing that sticks out in my mind

935
00:49:13,160 --> 00:49:16,760
Speaker 1: was when she was very early on talking about how

936
00:49:17,200 --> 00:49:19,960
Speaker 1: she and her ex husband talked about money, and she said, well,

937
00:49:20,000 --> 00:49:22,399
Speaker 1: we actually didn't fight, but it was worse. We didn't

938
00:49:22,400 --> 00:49:24,680
Speaker 1: talk about money. And I think it's a good goal

939
00:49:24,800 --> 00:49:26,879
Speaker 1: for all of us to to start this new year

940
00:49:26,960 --> 00:49:28,840
Speaker 1: is just talking about money. That's something you and I

941
00:49:29,000 --> 00:49:32,360
Speaker 1: are big proponents of, whether it's with your friends, whether

942
00:49:32,360 --> 00:49:35,920
Speaker 1: it's with your significant other. We we want to foster

943
00:49:36,040 --> 00:49:39,560
Speaker 1: more conversations, more healthy, helpful money conversations about money. And

944
00:49:39,600 --> 00:49:43,480
Speaker 1: so many people just neglect those conversations. They they they

945
00:49:43,560 --> 00:49:47,640
Speaker 1: they're nervous, they're fearful of beginning that conversation with a

946
00:49:47,719 --> 00:49:49,480
Speaker 1: parent or a loved one. And there's a way, like

947
00:49:49,680 --> 00:49:52,440
Speaker 1: MKO said, to do it with grace. But we have to,

948
00:49:52,640 --> 00:49:55,000
Speaker 1: we have to have those money conversations because if we

949
00:49:55,120 --> 00:49:58,040
Speaker 1: just sweep it under the rug, then it's really hard

950
00:49:58,040 --> 00:49:59,360
Speaker 1: for us to get on the same page, for us

951
00:49:59,400 --> 00:50:01,480
Speaker 1: to make any progress, and for us to to help

952
00:50:01,520 --> 00:50:03,160
Speaker 1: each other, and it's harder for us to be on

953
00:50:03,200 --> 00:50:05,200
Speaker 1: the same team, which is another thing that she mentioned too,

954
00:50:05,239 --> 00:50:07,680
Speaker 1: how important that was in communication is a huge part

955
00:50:08,080 --> 00:50:11,239
Speaker 1: of being on any team. I totally agree. Man. Let's

956
00:50:11,520 --> 00:50:13,520
Speaker 1: mention the beer that you and I enjoyed this episode.

957
00:50:13,560 --> 00:50:17,120
Speaker 1: We shared a double dry hops Stillings Street. This is

958
00:50:17,160 --> 00:50:19,680
Speaker 1: an I p A from Trillium, another beer that was

959
00:50:19,719 --> 00:50:23,000
Speaker 1: sent to us by Ali. What were your thoughts? Okay,

960
00:50:23,000 --> 00:50:25,319
Speaker 1: So I love the Trillium naming conventions that they name

961
00:50:25,360 --> 00:50:28,240
Speaker 1: him after like different streets in Boston, and they include

962
00:50:28,239 --> 00:50:30,160
Speaker 1: like little maps here and they're like, yeah, this one

963
00:50:30,160 --> 00:50:32,880
Speaker 1: in particular, they've got that little street highlighted. Speaking of

964
00:50:32,880 --> 00:50:35,239
Speaker 1: your maps reforms earlier, I wonder if that was why

965
00:50:35,239 --> 00:50:37,200
Speaker 1: I was on my mind because I'm sitting here looking

966
00:50:37,200 --> 00:50:40,160
Speaker 1: at the can occasionally, you know, as we're talking with Comico,

967
00:50:40,480 --> 00:50:42,680
Speaker 1: and yeah, she mentioned just knowing where you are, in

968
00:50:42,719 --> 00:50:44,839
Speaker 1: my mind just immediately went to this beer can. Yeah,

969
00:50:44,840 --> 00:50:47,040
Speaker 1: if you know you're on Ceiling Street, then you probably

970
00:50:47,080 --> 00:50:48,400
Speaker 1: have a better idea of how you're gonna get to

971
00:50:48,440 --> 00:50:51,360
Speaker 1: Finnaway Park or wherever you're heading in Boston. But uh, yeah, no,

972
00:50:51,520 --> 00:50:54,920
Speaker 1: this was honestly, I almost don't even have words to

973
00:50:55,000 --> 00:50:57,279
Speaker 1: give for how delicious it was. Basically a perfect double

974
00:50:57,360 --> 00:50:59,440
Speaker 1: dry hop I p A. I mean honestly, like it

975
00:50:59,440 --> 00:51:03,879
Speaker 1: was pretty much perfection. And that's like trillium just makes

976
00:51:04,000 --> 00:51:06,520
Speaker 1: incredible beers and this one, to me, it left like

977
00:51:06,560 --> 00:51:11,160
Speaker 1: this just incredible lingering flavor on my tongue of just

978
00:51:11,239 --> 00:51:14,319
Speaker 1: like beautiful hot essence. And I don't I don't know

979
00:51:14,719 --> 00:51:16,719
Speaker 1: a perfect way to describe the spear except for to

980
00:51:16,719 --> 00:51:19,280
Speaker 1: say that it was I mean, it was pretty much perfection.

981
00:51:19,440 --> 00:51:21,840
Speaker 1: It was delicious. Yeah, it was completely loaded with that

982
00:51:21,960 --> 00:51:24,240
Speaker 1: hot flavor, so much so that it was almost tingly

983
00:51:24,320 --> 00:51:26,160
Speaker 1: you know, like it's like sometimes I call it just

984
00:51:26,200 --> 00:51:29,319
Speaker 1: like that sharpness that you get with those hot flavors,

985
00:51:29,520 --> 00:51:31,680
Speaker 1: but it's almost with this one was almost like that

986
00:51:31,719 --> 00:51:33,680
Speaker 1: tingly level where I could feel it just like it

987
00:51:33,760 --> 00:51:37,760
Speaker 1: was alive. It's like those massage in my tongue. But yeah, Ali,

988
00:51:37,760 --> 00:51:39,960
Speaker 1: thank you so much for sending this one our way. Um,

989
00:51:40,000 --> 00:51:43,040
Speaker 1: it was incredibly delicious, and Joel, that's going to be

990
00:51:43,080 --> 00:51:45,319
Speaker 1: it for this episode. And We'll make sure to link

991
00:51:45,400 --> 00:51:47,479
Speaker 1: to Comico site where you can pre order her book.

992
00:51:47,520 --> 00:51:49,960
Speaker 1: Everything that she mentioned, we'll put those up in our

993
00:51:50,000 --> 00:51:52,600
Speaker 1: show notes at how the Money dot com. No doubt

994
00:51:52,600 --> 00:51:54,360
Speaker 1: and this this is just the start mat of what

995
00:51:54,480 --> 00:51:56,120
Speaker 1: How the Money is going to bring to the table

996
00:51:56,200 --> 00:52:01,040
Speaker 1: in two lots lots more great interviews like this, more

997
00:52:01,280 --> 00:52:04,480
Speaker 1: money saving information. We got your back this year, but

998
00:52:04,760 --> 00:52:07,520
Speaker 1: until next time, Best Friends Out, Best Friends Out.