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Speaker 1: Welcome to How the Money. I'm Joel and I am Matt.

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Speaker 1: Today we're talking building wealth on a tiny income with

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Speaker 1: Sarah the budget Girl. That's right, Sarah Wilson is joining

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Speaker 1: us on the podcast today. Um, and yes, we're most

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Speaker 1: definitely going to talk a ton about budgeting. Sarah is

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Speaker 1: the budget girl, after all. We'll discuss how she got

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Speaker 1: started budgeting. We'll talk about best methods, the biggest mistakes

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Speaker 1: that that folks are making out there with their budgets.

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Speaker 1: But you know who knows after that what else will

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Speaker 1: end up talking about. Because Sarah is basically like a

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Speaker 1: personal finance Swiss army knife. She does it all. She

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Speaker 1: she paid off her student loans in just three years

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Speaker 1: on quite a meager income. She's getting into investing in

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Speaker 1: real estate. She's also financial wellness advocate and speaker, as

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Speaker 1: well as a content creator, as she has posted weekly

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Speaker 1: videos up on her wildly successful YouTube channel. So we're

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Speaker 1: excited to talk about all of that and more today. Sarah,

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Speaker 1: thank you for joining us on the podcast. Thank you

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Speaker 1: for having me, and I am absolutely stealing that. I'm

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Speaker 1: a personal finance Swiss army knife. Put that in your

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Speaker 1: marketing material, Sarah, that's what we're here for. I like it.

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Speaker 1: That was a freebee. I appreciate you got it anything

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Speaker 1: for you. Our first question for for everyone who comes

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Speaker 1: on the podcast has to do with what they like

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Speaker 1: to spend money on, because you can. You can learn

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Speaker 1: a lot about someone by where their dollars go intentionally,

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Speaker 1: and Matt and I we intentionally spend money on good

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Speaker 1: craft beer while we're also saving and investing for the future.

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Speaker 1: So our question for you is what is that in

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Speaker 1: your life? What do you like to support john while

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Speaker 1: you're also making smart moves with your money. Well, I've

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Speaker 1: got a bit of a weird one where a lot

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Speaker 1: of people say, wait, really, the weirder, the weirder, the bed. Yeah.

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Speaker 1: I like to buy vintage campers and trailers. Over the

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Speaker 1: past couple of years, I've I've spent about close to

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Speaker 1: thirty thou on three different ones with various end results.

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Speaker 1: But it is it's something that you wouldn't think of.

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Speaker 1: And if you had asked um, the version of me

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Speaker 1: that started you know, YouTube eight years ago, who was

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Speaker 1: in so much debt, if I would ever just spend

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Speaker 1: money on campers and renovating those as a hobby, I

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Speaker 1: would probably think you were dumb, but I definitely do

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Speaker 1: that now. And it's it's weird, but it's it's a

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Speaker 1: huge splurge. I mean that tells me that you enjoy it. Right.

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Speaker 1: If it's a splurge, that means you wouldn't do this

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Speaker 1: thing if you didn't enjoy it. So is it, like,

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Speaker 1: what is it specifically about these I mean, is it

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Speaker 1: the fact that they're vintage? Is it because they're kind

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Speaker 1: of old and timeless? You're talking about air streams or

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Speaker 1: kind of an air stream I've almost bought several air streams,

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Speaker 1: and there's always been like some major thing where I

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Speaker 1: was like, no bad idea. So I have always loved

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Speaker 1: like Vin Titch Campers and very much things like the Shasta's,

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Speaker 1: the old air streams. I think there's something incredibly cool

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Speaker 1: about them. And I love the entire tiny living movement movement. No,

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Speaker 1: I do not live tiny, have a three bed, two

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Speaker 1: bath house that's full of crap, but I have always yeah,

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Speaker 1: the the idea of tiny living spaces, incredibly curated spaces,

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Speaker 1: and so I'm also into real estate that you guys

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Speaker 1: might know, or people might know if they've seen my

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Speaker 1: channel little um and after I paid off my debt.

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Speaker 1: I bought a duplex and that's been a wonderful investment,

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Speaker 1: but it actually didn't need that much work, and so

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Speaker 1: I like to um, I'm a bit of a masochist.

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Speaker 1: So I then bought a vintage camper that was way

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Speaker 1: too big of a job for me and had to

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Speaker 1: sell it. And then I bought another vintage camper and

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Speaker 1: I spent four months renovating it, making it into an

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Speaker 1: airbnb and it is now a entirely cash paid for

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Speaker 1: pro pretty essentially that I own own and I do

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Speaker 1: a short term rental with it's called the Agwagon. And

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Speaker 1: I loved every single minute of designing and fixing that

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Speaker 1: thing up. I love how for for nerdy frugal people,

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Speaker 1: something that can be as splurged can also make the money,

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Speaker 1: right Like that's that's that's one of the coolest things

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Speaker 1: about It doesn't have to be something that only if

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Speaker 1: you can if you could take pride and and and

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Speaker 1: find joy in the thing you're spending money in, that

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Speaker 1: can on that can generate revenue, that's that's the best

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Speaker 1: of both worlds. Absolutely. I often when people ask me

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Speaker 1: about my my journey to paying off debt, I say,

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Speaker 1: just as an overarching thing, I traded all of my

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Speaker 1: hobbies that cost me money for hobbies that make me money.

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Speaker 1: And that's kind of a mindset shift. And it doesn't

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Speaker 1: mean you can't have hobbies that you enjoy and that

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Speaker 1: just kind of you spend money for the love of

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Speaker 1: getting to do that thing. But if you have some

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Speaker 1: hobbies that also make you money, then you're going to

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Speaker 1: end up in a much better financial place eventually, because

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Speaker 1: we all have time to spend on stuff. Yeah, it's

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Speaker 1: it's win win in that way. And if craft beer

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Speaker 1: wasn't a part of our show, who knows if we

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Speaker 1: would even have a podcast if we didn't find some

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Speaker 1: way to channel our love of craft beer into creating

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Speaker 1: a podcast and talking about personal finances. Um, but let's

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Speaker 1: kind of start at your origins. What is it that

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Speaker 1: made you start posting your budget on the on the

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Speaker 1: internet way back in the day, Oh so many moons ago.

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Speaker 1: I graduated college with twenty seven thousand dollars in student

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Speaker 1: loan debt, which is actually not even that much, especially

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Speaker 1: compared to now. I mean this was over a decade

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Speaker 1: ago at this point. Um, I got a job at

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Speaker 1: a newspaper I was making twenty four grand a year,

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Speaker 1: and the government told me I didn't make enough to

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Speaker 1: pay on my student loans. So I worked that job

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Speaker 1: for a couple of years and my loans ballooned up

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Speaker 1: to thirty three thousand UM just from interest. I then

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Speaker 1: got laid off from that job because they found someone

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Speaker 1: who could do it even cheaper than me. So I

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Speaker 1: was on unemployment terrified. Had you have worked at who

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Speaker 1: made it was like comfortable making less than two dollars

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Speaker 1: a year? Was at a piece of software? Like what

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Speaker 1: was it a literal money or what? How did I

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Speaker 1: know it was? It was one of my employees. Yeah,

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Speaker 1: So I had someone who I had just hired to

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Speaker 1: do like a weekly column in that section of the

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Speaker 1: newspaper that I ran. I was the lifestyles editor of

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Speaker 1: the paper, and she apparently decided that she could do

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Speaker 1: my job. And I no hate to her, no hate

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Speaker 1: to my boss at the time. I understand the bottom

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Speaker 1: line of that business. But I had spent like two

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Speaker 1: years creating this lifestyle section for this little kind of

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Speaker 1: like crime rag newspaper, and it made them a lot

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Speaker 1: of money because then you could put ads in for

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Speaker 1: things that didn't want to be next to you know,

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Speaker 1: the meth bust. Uh. Yeah, I was not making much money.

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Speaker 1: I was working so many hours. It was not a

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Speaker 1: great job, and yet it was still very devastating when

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Speaker 1: I got laid off from it. So I was on

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Speaker 1: unemployment for like five months. And I decided that once

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Speaker 1: I got a new job, no matter how much I

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Speaker 1: was making, I was going to figure this money thing out,

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Speaker 1: because I knew that I could support myself just like

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Speaker 1: waitressing or doing whatever. But I couldn't then tackle my debt.

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Speaker 1: And that was really like a huge weight on my

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Speaker 1: shoulders and it felt like I couldn't. It was just

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Speaker 1: devastating and very scary. And I know a lot of

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Speaker 1: people are in that place with money too, so I

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Speaker 1: I remember it well, sure, I mean that's I mean,

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Speaker 1: that is how you learn, right, Like, like you have

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Speaker 1: some folks who are who are saying, well, this is

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Speaker 1: something I want to start doing. But when you have

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Speaker 1: necessity causing you to you know, causing you to invent,

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Speaker 1: you're going to quickly learn how to budget and how

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Speaker 1: to handle handle your money. Well, you'll become the next

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Speaker 1: Benjamin Franklin inventing all sorts of things. Because you're forced to.

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Speaker 1: And I don't know. I think back to those days

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Speaker 1: when I was right out of college and I took

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Speaker 1: a similar career trajectory Sarah, where I was in media,

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Speaker 1: and the realit the is that most media jobs don't

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Speaker 1: pay very well. It's not it's not a great recipe

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Speaker 1: for a longstanding, stable, well paying career um. And my

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Speaker 1: first job paid almost the exact same amount as yours,

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Speaker 1: and it just it forces you to kind of learn

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Speaker 1: some frugal habits um. But yeah, that can that must

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Speaker 1: have been scary to see your debt rising every single

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Speaker 1: month and then your income to kind of drop out

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Speaker 1: from underneath. At the same time, it was very much

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Speaker 1: I look get up or give up moment, and I

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Speaker 1: decided that I was going to get up and do

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Speaker 1: whatever it took to kind of make a future for myself,

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Speaker 1: regardless of the low income, regardless of being on my own,

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Speaker 1: and it was it was going to happen. I was

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Speaker 1: going to be the only one that was going to

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Speaker 1: make it, And so was starting budget girl. Was that

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Speaker 1: part of like it was it was it just to

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Speaker 1: keep you account of accountable? Was it to document your

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Speaker 1: story for other people? Like? What was the reasoning behind

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Speaker 1: kind of making a public It started as a way

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Speaker 1: for me to talk about money without annoying my friends

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Speaker 1: to death. So I got a new job. Eventually I

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Speaker 1: had to move to Louisiana. I didn't know anyone. I

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Speaker 1: got a job in a newspaper there, making like thousand

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Speaker 1: pre taxs, and uh, I decided that I was going

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Speaker 1: to become obsessed with like budgeting, figuring out how it

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Speaker 1: was going to fix this thing for myself. And I

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Speaker 1: knew that I needed someone to talk to and I

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Speaker 1: didn't want to you know, remove all of my my

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Speaker 1: online friendship, so I just constantly wanting to talk to

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Speaker 1: them about money. So at the time, there were three

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Speaker 1: personal finance YouTube channels aside from like Dave Ramsey, and

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Speaker 1: he was just kind of getting started on YouTube at

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Speaker 1: the time. He was, you know, putting his podcast on there,

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Speaker 1: his radio show on there, but not really doing a lot.

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Speaker 1: So there was Lydias in a frugal, debt free life,

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Speaker 1: his and her money, who still have a hugely successful

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Speaker 1: business and a channel called Debt is Dumb that's no

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Speaker 1: longer around. And these were all hir income people than me.

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Speaker 1: They were all multi income families and they all had kids,

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Speaker 1: and so I couldn't really relate to them. It's so

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Speaker 1: wonderful now that there's so many different personal finance channels

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Speaker 1: and people who are talking about money out there that

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Speaker 1: you can find someone that's in a similar situation to

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Speaker 1: you that you can relate to. But at the time,

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Speaker 1: there wasn't anything, so I just decided to start talking

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Speaker 1: about it. That's good. Yeah, you find your people, you

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Speaker 1: start talking to them specifically about about budgeting. I mean,

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Speaker 1: we're we're big fans of budgeting in particular. I'm kind

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Speaker 1: of a budget nerd myself, Sarah. But you said before

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Speaker 1: that budgets that they're kind of like the secret sauce

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Speaker 1: when it comes to building wealth. Why why is that?

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Speaker 1: So we master what we manage. If you don't know

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Speaker 1: what money is coming in, if you don't know how

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Speaker 1: much you're making and you don't know how much is

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Speaker 1: coming out, then you're absolutely losing opportunities to do things

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Speaker 1: intentionally with that money. Um, even if you make a

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Speaker 1: great income and your expenses aren't that high and you're

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Speaker 1: not making goals for your money and pushing that money

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Speaker 1: that you have towards things that are going to enricher

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Speaker 1: life and make your future what you want it to be.

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Speaker 1: You're you're just losing out. So I use a zero

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Speaker 1: based budget. I recommend that to everyone, and I don't

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Speaker 1: care whether people use an app, pen and paper, a planner,

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Speaker 1: a spreadsheet. I'm a spreadsheet girl. It's just whatever works

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Speaker 1: for you. But once you start actually seeing on paper

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Speaker 1: where your money is going, you're going to make different

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Speaker 1: choices and you're going to be able to cultivate the

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Speaker 1: life that you want, or at least get closer to

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Speaker 1: it using that to the best of your ability by

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Speaker 1: giving it. A job with a budget, Yeah, sometimes people

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Speaker 1: get hung up on the details of a budget, So

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Speaker 1: I guess from your experience, how granular should people be

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Speaker 1: getting and how much maybe time should they be spending

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Speaker 1: on their budget. I think sometimes people think of budgeting

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Speaker 1: as this like hours long endeavor and that that that

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Speaker 1: it's it's just this massive pile of drudgery that's going

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Speaker 1: to take every Wednesday night instead of watching shows or talking,

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Speaker 1: hanging out with their significant other or a good friend,

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Speaker 1: they're gonna have to budget for hours on end. Like

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Speaker 1: how Yeah, talked to me about the granularity and maybe

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Speaker 1: the time piece of budgeting. Those are great questions, and

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Speaker 1: that's it's a completely legitimate fear because your first budget,

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Speaker 1: if you haven't been budgeting and you don't know like

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Speaker 1: where all your accounts are and what's coming in and

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Speaker 1: what's going out, and really what you spend on things

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Speaker 1: like groceries or car insurance, it's going to take a

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Speaker 1: while for you to get all of that down on paper.

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Speaker 1: But once you create that first budget, most of the

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Speaker 1: work I think is mostly over. Yeah, you're gonna have

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Speaker 1: to update it. You're gonna have to reconcile your budget

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Speaker 1: every month. I spend a couple of minutes a week

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Speaker 1: and then about half an hour a month at the

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Speaker 1: end of each month to close out my budget push

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Speaker 1: money to where it's supposed to go. It's not that bad,

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Speaker 1: but I've also been doing it for years. It might

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Speaker 1: take you a little longer. There are things like apps

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Speaker 1: where you can have your you know, debit card transactions important,

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Speaker 1: and then all you have to do is press a

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Speaker 1: couple of buttons to send those to each category. It

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Speaker 1: doesn't have to be an hour's long thing, and if

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Speaker 1: you're doing it right, it's not. There's also the matter

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Speaker 1: of you know, maybe this takes an hour a month,

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Speaker 1: or when you're first starting, maybe a couple hours a month.

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Speaker 1: You spend a lot of time working for somebody else.

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Speaker 1: If you're the CEO of your own life, you might

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Speaker 1: want to consider dedicating an hour or so to your

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Speaker 1: money each month, because that's it's a very important part

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Speaker 1: of your business, the business of you. So Joel's kind

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Speaker 1: of talking to a big talk You mentioned um the

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Speaker 1: zero some budgeting, But I know that Joel's kind of

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Speaker 1: he's kind of like a big numbers kind of guy.

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Speaker 1: He's I don't get very granular. Yeah, I'm very overarching.

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Speaker 1: I I save and invest a huge chunk of what

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Speaker 1: I make because I live frugally, But I don't spend

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Speaker 1: a lot of time with the specific And so I

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Speaker 1: guess I bring that up start is because do you

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Speaker 1: think for a lot of folks that even just kind

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Speaker 1: of starting, they're kind of starting with like a general

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Speaker 1: idea of of how much like a percentage of their

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Speaker 1: income that they're investing or saving or a percentage of

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Speaker 1: their income that's that's you know, going towards their uh,

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Speaker 1: you know, expenses every single month. Is that better than nothing?

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Speaker 1: I like, do folks need to go kind of like

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Speaker 1: whole hog with it right off the bat, or uh,

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Speaker 1: you know, might folks be able to kind of gradually

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Speaker 1: work their way into budgeting. I think it very much

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Speaker 1: depends on how many resources you have. If you live comfortably,

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Speaker 1: you have more money coming in then you necessarily need

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Speaker 1: to spend. Then. Yeah, you could absolutely do a bucket

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Speaker 1: budget and just say all right, I'm gonna put about

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Speaker 1: my income into investments and another like five percent. Then

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Speaker 1: I'm just going to spend whatever is left in this category.

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Speaker 1: And some people do where they have part of their

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Speaker 1: income every month go to an account and then they

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Speaker 1: can just spend freely out of that account as long

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Speaker 1: as there's money. Um. That is still budgeting. UM, you're

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Speaker 1: still planning for your future and making sure things are

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Speaker 1: growing where. I will say that most people do not

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Speaker 1: have enough resources coming into where they can be that

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Speaker 1: law's a fair most people who get into personal finance,

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Speaker 1: it's out of necessity. And if you have months where

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Speaker 1: the ends don't meet, you're going to have to go

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Speaker 1: more granular because that's how things are going to change.

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Speaker 1: Either you're going to have to figure out ways to

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Speaker 1: lower your expenses. UM, you're gonna have to figure out

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Speaker 1: ways to increase your income in some areas, and it's

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Speaker 1: very much about the details. And that's how I got

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Speaker 1: out of debt because I was I was making sixteen

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Speaker 1: hundred dollars a month. That was what my paycheck every

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Speaker 1: month was. So after you know, rant, food, car insurance

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Speaker 1: and everything like that, I was dealing with very small

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Speaker 1: margins and even doing things like switching which grocery store

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Speaker 1: I went to, or just other very small weekly things

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Speaker 1: that we might not think about so much and I

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Speaker 1: might not think about them so much anymore, would make

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Speaker 1: a difference over the month, and it determined how much

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Speaker 1: I could spend on um paying off my debt. And

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Speaker 1: those first few years making sixteen hundred dollars a month

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Speaker 1: post tax, I paid off tin k year of debt. Yeah,

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Speaker 1: I mean those those small changes like where you shop

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Speaker 1: for groceries make a big difference in your ability to

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Speaker 1: keep more money in your life to reach those other

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Speaker 1: financial goals. Right, the ability to just shop at all

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Speaker 1: the instead of publics or something like that is gonna

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Speaker 1: make is gonna make a meaningful difference in that monthly budget,

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Speaker 1: allowing you to more quickly reach those goals and I love, like,

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Speaker 1: um one, that you've lived it right. But you also

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Speaker 1: you talk about how people can live the life of

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Speaker 1: their dreams on any budget. That's one of the things

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Speaker 1: you've said. And as someone who grew up lower middle

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Speaker 1: classes had who had those years of having a lot

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Speaker 1: of debt to pay off but not having a whole

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Speaker 1: lot of income to do it with, can you talk

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Speaker 1: about budgeting on a smaller income and and why is it? Like,

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Speaker 1: I don't know, I want to believe what you say

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Speaker 1: that people can live the life of their dreams on

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Speaker 1: any income, but I don't know a lot of people

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Speaker 1: will hear that and they'll say that sounds crazy, that's

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Speaker 1: not my life. Well, the phrase I usually use this

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Speaker 1: build the life of your dreams on any income. So, um,

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Speaker 1: if I'm sure you guys know Paula pant in the

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Speaker 1: space she she Doesn't Afford Anything podcast and has that brand,

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Speaker 1: and I really like what she says about you can't

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Speaker 1: afford anything, but you cannot afford everything. So a lot

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Speaker 1: of what I talk about sometimes is about value based spending,

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Speaker 1: and often we spend when we're not monitoring our money

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Speaker 1: just kind of everywhere. And if you can redirect your

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Speaker 1: focus towards the things that you actually value then and

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Speaker 1: just say no, I'm not going to spend on anything else.

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Speaker 1: Then it can make this huge difference in your budget

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Speaker 1: and in your life. So you know, maybe you're going

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Speaker 1: out to movies and bars and stuff like that for entertainment,

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Speaker 1: but you don't really care about drinking. Or maybe you

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Speaker 1: spend a lot on a car when you don't really

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Speaker 1: care about cars. I drive a salvage vehicle and have

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Speaker 1: for years that I pay basically pennies for it worked great.

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Speaker 1: I could care less what type of car drive around in.

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Speaker 1: I'm not going to sign Yeah, so I'm not going

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Speaker 1: to sign up for a loan on this like gorgeous truck.

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Speaker 1: But some people really love cars. They love cars, and

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Speaker 1: they might not like clothes. They don't really care what

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Speaker 1: they wear. And for that person, I would say absolutely,

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Speaker 1: if you're trying to build the life that you want,

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Speaker 1: spend the money on that car. Save for it, of course,

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Speaker 1: make sure that you can afford it, but don't feel

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Speaker 1: bad about investing in the things that you really value.

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Speaker 1: So and on a lower income, that's even more important.

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Speaker 1: So if you're if your family really loves to go camping,

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Speaker 1: save money for camping, don't necessarily go to like movies

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Speaker 1: and other stuff. Replace the things that aren't bringing you

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Speaker 1: that much joy with fewer things that really really make

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Speaker 1: you light up totally. Yeah, And oftentimes I think folks

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Speaker 1: aren't spending enough time, whether that's looking at their budget

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Speaker 1: every week or every month like that folks and taking

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Speaker 1: the time they're not sitting that that portion of their

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Speaker 1: life aside to determine whether or not they're gaining that

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Speaker 1: value from the money that they're spending. Let's assume though,

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Speaker 1: that you have identified what it is that you value,

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Speaker 1: You have identified the things that light you up for

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Speaker 1: the most part, you know you you want to kind

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Speaker 1: of find ways to cut back in all of those

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Speaker 1: other areas that don't bring you that joy. Uh, And

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Speaker 1: so just kind of like on a practical note, like

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Speaker 1: like what are some of the like like the lowest

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Speaker 1: hanging money saving fruit out there that that you think

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Speaker 1: that most folks probably aren't thinking of? What are ways

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Speaker 1: that folks can trim their budget while still of course

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Speaker 1: maintaining what it is that they're they're splurging on their

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Speaker 1: craft beer equivalent. One of the biggest things for me

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Speaker 1: when I started is that I didn't do any sort

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Speaker 1: of meal planning. Um. I would go to the grocery

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Speaker 1: store much like many people a few times a week.

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Speaker 1: I would wander up and down the aisles, think about

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Speaker 1: what I wanted to eat like that evening, by a

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Speaker 1: bunch of ingredients, bring them home, and then I end

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Speaker 1: up going out to lunch the next day because even

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Speaker 1: though I just went to the grocery store, I didn't

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Speaker 1: have anything for lunch. So groceries and restaurants are always

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Speaker 1: going to be the biggest categories for most people. Like

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Speaker 1: we just spend a lot. There's a lot of food

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Speaker 1: waste in most American homes. We actually end up throwing

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Speaker 1: away about of what we buy. Imagine what you could

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Speaker 1: do with your grocery budget back and I will say

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Speaker 1: that learning how to plan for groceries and eating out.

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Speaker 1: Planning for food is a longer system than you would think.

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Speaker 1: Most people cannot switch from having no meal plan to

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Speaker 1: shopping sales, planning out things doing like freezer meals, figuring

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Speaker 1: out how much things at the grocery store are and

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Speaker 1: if there are a good deal. That's going to take

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Speaker 1: many months to kind of call your grocery budget down,

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Speaker 1: but it's absolutely worth it because then you're not throwing

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Speaker 1: out as much food. So, yeah, groceries and restaurants are

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Speaker 1: probably one of the first things I usually recommend people

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Speaker 1: start with the majority of my audience or women, so

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Speaker 1: we usually end up heading the food for households and

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Speaker 1: it can make a giant difference. Many people spend well

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Speaker 1: over a thousand dollars a month on food to feed

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Speaker 1: their families, and if that can be cut down even

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Speaker 1: by a couple of hundred dollars, that can be what

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Speaker 1: you build your emergency fund with. That can be what

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Speaker 1: you start investing with. What about what about subscription subscriptions

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Speaker 1: because it feels like those are proliferated in a big way.

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Speaker 1: We've talked about that on the show quite a bit.

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Speaker 1: There's just there are more and more brands and companies

415
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Speaker 1: that want to siphon money from you, not just on

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Speaker 1: a one time basis, but like repeatedly every single month

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Speaker 1: on the first or fift or whatever of the month.

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Speaker 1: So is that one of those things that's often overlooked

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Speaker 1: to that's costing people money that they're they're not really

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Speaker 1: aware of. You just reminded me I need to cancel

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Speaker 1: Paramount plus again. So yes, we help you are twice

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00:21:51,520 --> 00:21:56,560
Speaker 1: here already on the podcast, Okay, Um. Yeah. Subscriptions are

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Speaker 1: really big, especially when you're first starting and figuring out

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Speaker 1: what's coming in and what's going out. It's one of

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Speaker 1: those things where we just forget about, and people who

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Speaker 1: don't check their bank accounts that often it's very easy

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Speaker 1: to forget to cancel that free trial for that subscription service,

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Speaker 1: or um just let something come in like the And

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Speaker 1: I think most subscriptions that are like delivery subscriptions are

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Speaker 1: the worst deal in the world. It's just it's like

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00:22:21,040 --> 00:22:23,639
Speaker 1: a little present for yourself, like you're trying to make

432
00:22:23,720 --> 00:22:26,879
Speaker 1: Christmas happen over and over. And I get it. I

433
00:22:26,960 --> 00:22:32,800
Speaker 1: also like mail. But but if you're trying to um

434
00:22:32,880 --> 00:22:35,960
Speaker 1: bring your spending down so that you can redirect it

435
00:22:36,000 --> 00:22:38,280
Speaker 1: towards things that will actually make a bigger difference in

436
00:22:38,280 --> 00:22:41,720
Speaker 1: your life. UM. Absolutely. And it doesn't matter if it's

437
00:22:41,720 --> 00:22:46,280
Speaker 1: those food subscription services or the beauty box services, the

438
00:22:46,359 --> 00:22:49,560
Speaker 1: stake of the month club, whatever it is. Those are

439
00:22:49,680 --> 00:22:53,720
Speaker 1: a really easy thing to cut if you don't want

440
00:22:53,720 --> 00:22:55,080
Speaker 1: And here's the thing. Most of the stuff that comes

441
00:22:55,080 --> 00:22:58,680
Speaker 1: in those boxes you didn't even want, Like, I'll figure

442
00:22:58,680 --> 00:23:00,800
Speaker 1: out a way to use this, but you know, there

443
00:23:00,840 --> 00:23:04,120
Speaker 1: might be one thing you get your jolly's up really over,

444
00:23:04,240 --> 00:23:08,200
Speaker 1: But it's no. I don't As for like online subscriptions,

445
00:23:08,720 --> 00:23:12,240
Speaker 1: those are a little bit insidious sometimes. I think there

446
00:23:12,240 --> 00:23:15,919
Speaker 1: are so many platforms now, and I actually share streaming

447
00:23:15,960 --> 00:23:18,320
Speaker 1: platforms with my best friend and I have since college.

448
00:23:18,320 --> 00:23:21,480
Speaker 1: So I pay for UM Hulu and Disney Plus and

449
00:23:21,480 --> 00:23:24,359
Speaker 1: she pays for Prime and Netflix and we share those.

450
00:23:25,119 --> 00:23:27,119
Speaker 1: I do understand that some of those companies are starting

451
00:23:27,160 --> 00:23:29,879
Speaker 1: to crack down on that a little bit, but that

452
00:23:29,960 --> 00:23:33,680
Speaker 1: I saved us both money for years and it kind

453
00:23:33,680 --> 00:23:38,000
Speaker 1: of keeps the overall bills down and it gives us

454
00:23:38,000 --> 00:23:41,600
Speaker 1: something to talk about. UM. I sometimes will purchase them.

455
00:23:41,600 --> 00:23:43,840
Speaker 1: Think for like a limited series. I wanted to watch

456
00:23:43,840 --> 00:23:46,199
Speaker 1: I Carly on Paramount Plus, so I signed up for that,

457
00:23:46,240 --> 00:23:49,080
Speaker 1: and I need to cancel that. Um. But yeah, just

458
00:23:49,119 --> 00:23:52,399
Speaker 1: monitoring your money as it or your bank account as

459
00:23:52,400 --> 00:23:54,680
Speaker 1: stuff comes and goes out, and then actually seeking out

460
00:23:55,200 --> 00:24:00,679
Speaker 1: how to unsubscribe or cancel those can absolutely plug up

461
00:24:00,680 --> 00:24:04,440
Speaker 1: one of those drains that happens to all of us,

462
00:24:04,480 --> 00:24:08,560
Speaker 1: including me. Well, Sarah, we've got many more topics and

463
00:24:08,640 --> 00:24:10,440
Speaker 1: questions that we want to get to, including like we're

464
00:24:10,480 --> 00:24:12,040
Speaker 1: gonna talk a little bit more about real estate, We're

465
00:24:12,040 --> 00:24:15,000
Speaker 1: gonna ask you more about your your campers. But we

466
00:24:15,040 --> 00:24:17,120
Speaker 1: also want to kind of dive into relationships a little

467
00:24:17,160 --> 00:24:19,720
Speaker 1: bit too and how that impacts your finances, and so

468
00:24:19,840 --> 00:24:31,040
Speaker 1: we'll get to all of that right after this. All right,

469
00:24:31,080 --> 00:24:34,200
Speaker 1: let's keep going. We're talking with Sarah Wilson the Bunch

470
00:24:34,280 --> 00:24:38,120
Speaker 1: of Girl as she's known on YouTube, and Sarah, one

471
00:24:38,160 --> 00:24:41,040
Speaker 1: of your most controversial videos. I would say it was

472
00:24:41,080 --> 00:24:44,520
Speaker 1: about how you charge your boyfriend rent to live in

473
00:24:44,560 --> 00:24:47,119
Speaker 1: your house. I personally I loved it. I thought it

474
00:24:47,160 --> 00:24:49,000
Speaker 1: was great. But can you tell us about that, like

475
00:24:49,400 --> 00:24:51,280
Speaker 1: why why do you charge him rent? What kind of

476
00:24:51,320 --> 00:24:54,280
Speaker 1: blowback have you gotten? How how does that work out

477
00:24:54,520 --> 00:24:58,879
Speaker 1: relationally for you guys? Um, Well, anytime my viewers my

478
00:24:59,000 --> 00:25:00,719
Speaker 1: views are down, all I do just bring that up

479
00:25:00,760 --> 00:25:06,120
Speaker 1: and I get look, so that's always fun. Here's the thing.

480
00:25:06,200 --> 00:25:09,160
Speaker 1: I don't actually see it, and most people who read

481
00:25:09,200 --> 00:25:10,919
Speaker 1: that content on my website or watch it on my

482
00:25:10,960 --> 00:25:13,919
Speaker 1: YouTube are like, this is a this is a non starter.

483
00:25:14,040 --> 00:25:16,119
Speaker 1: Of course he should pay his ways. He's a grown

484
00:25:16,119 --> 00:25:19,640
Speaker 1: adult man. Um Like everyone has to pay to live

485
00:25:19,840 --> 00:25:22,080
Speaker 1: somewhere except me because I own the house and I

486
00:25:22,119 --> 00:25:26,960
Speaker 1: rented out. But um that's it's a little different. Um

487
00:25:27,080 --> 00:25:28,919
Speaker 1: So I do this thing called house hacking with you

488
00:25:28,920 --> 00:25:31,919
Speaker 1: guys of I'm sure you've heard of, but I essentially

489
00:25:31,960 --> 00:25:34,399
Speaker 1: I bought a duplex. I live on one side, I

490
00:25:34,520 --> 00:25:37,160
Speaker 1: ran out the other side, and I also ran out

491
00:25:37,160 --> 00:25:39,199
Speaker 1: part of my side because my boyfriend lives with me.

492
00:25:39,560 --> 00:25:42,320
Speaker 1: So I put all the money in for the house.

493
00:25:42,480 --> 00:25:46,320
Speaker 1: It is only in my name. And we had a

494
00:25:46,400 --> 00:25:48,960
Speaker 1: grown up discussion because we were living together before and

495
00:25:49,000 --> 00:25:51,919
Speaker 1: we were splitting rent on an apartment. Um, So we

496
00:25:51,960 --> 00:25:54,080
Speaker 1: had a grown up discussion that was like, all right,

497
00:25:54,119 --> 00:25:57,560
Speaker 1: what's best for each of our finances on this. My boyfriend, Jacob,

498
00:25:57,600 --> 00:25:59,600
Speaker 1: he has some debt. He has some student debt that

499
00:25:59,640 --> 00:26:02,800
Speaker 1: he's working through. And if something were to happen with

500
00:26:02,840 --> 00:26:05,680
Speaker 1: the house, like the fridge goes out, it needs new drainage,

501
00:26:06,040 --> 00:26:08,560
Speaker 1: we needed a new roof. All things that have happened

502
00:26:08,600 --> 00:26:13,720
Speaker 1: within the past two years. Blood in Kitchen. The joys

503
00:26:13,760 --> 00:26:16,560
Speaker 1: of home ownership are not not as numerous as many

504
00:26:16,560 --> 00:26:20,800
Speaker 1: people would would say. Right, yeah, I love it, I

505
00:26:20,840 --> 00:26:23,520
Speaker 1: absolutely love it. But I'm financially prepared for it. I

506
00:26:23,560 --> 00:26:26,000
Speaker 1: have savings, I don't have any debt other than the house,

507
00:26:26,119 --> 00:26:29,680
Speaker 1: and I have UM income to handle and an emergency

508
00:26:29,680 --> 00:26:34,040
Speaker 1: savings for the house to handle anything that comes up.

509
00:26:34,160 --> 00:26:37,760
Speaker 1: And that has been essential to being a responsible real

510
00:26:37,920 --> 00:26:41,560
Speaker 1: estate owner and landlord. So if something anytime, any of

511
00:26:41,560 --> 00:26:45,160
Speaker 1: those things came up, we kind of discussed, well, if

512
00:26:45,200 --> 00:26:47,480
Speaker 1: you know you're not paying rent, are you going to

513
00:26:47,720 --> 00:26:50,800
Speaker 1: help me with you know, expenses that come up, Like

514
00:26:50,840 --> 00:26:52,959
Speaker 1: would that be a fair split? And no, that's not

515
00:26:53,000 --> 00:26:56,160
Speaker 1: a fair split to him. What was better for him

516
00:26:56,760 --> 00:26:59,119
Speaker 1: was to just pay a set amount each month and

517
00:26:59,119 --> 00:27:04,399
Speaker 1: then I cover anything that needs to happen with the house. Um,

518
00:27:04,440 --> 00:27:08,359
Speaker 1: it's it's pretty simple. Um, just because he lives with

519
00:27:08,440 --> 00:27:10,680
Speaker 1: me doesn't mean and I own the house doesn't mean

520
00:27:10,840 --> 00:27:13,640
Speaker 1: he should live for free. There is money that has

521
00:27:13,680 --> 00:27:16,199
Speaker 1: to be paid. After my other renter, who I'm not

522
00:27:16,240 --> 00:27:18,800
Speaker 1: related to or anything or have any you know, I'm

523
00:27:18,840 --> 00:27:21,920
Speaker 1: just giving her a place to live in exchange for money. Um,

524
00:27:21,960 --> 00:27:24,600
Speaker 1: her rent is twelve fifty, my mortgage is sixteen dred.

525
00:27:25,080 --> 00:27:27,720
Speaker 1: So he pays seven hundred dollars a month and that's

526
00:27:27,840 --> 00:27:32,520
Speaker 1: for five rent and then contributions for half our internet,

527
00:27:32,560 --> 00:27:35,240
Speaker 1: half our lawn care and everything like that, and then

528
00:27:35,240 --> 00:27:37,520
Speaker 1: I pay everything on top of that. So some months

529
00:27:37,520 --> 00:27:39,480
Speaker 1: I make a hundred and forty dollars off of my house.

530
00:27:39,840 --> 00:27:44,639
Speaker 1: Other months I spent ten thousands. And you are the

531
00:27:44,640 --> 00:27:46,800
Speaker 1: one who is in the cash position to be able

532
00:27:46,800 --> 00:27:49,000
Speaker 1: to handle those ups and downs. I feel like, like like

533
00:27:49,119 --> 00:27:50,960
Speaker 1: you said, so much of homeownership and so much of

534
00:27:50,960 --> 00:27:53,840
Speaker 1: being an adult is just having a little bit of

535
00:27:53,880 --> 00:27:56,400
Speaker 1: extra cash on hand to be able to handle the

536
00:27:56,640 --> 00:27:59,760
Speaker 1: unforeseen expenses, the emergencies that that pop up here and

537
00:27:59,800 --> 00:28:02,600
Speaker 1: there like that. Essentially, that's what an escrow does, right,

538
00:28:02,640 --> 00:28:05,640
Speaker 1: like with your mortgage company, and they're like, okay, well

539
00:28:05,680 --> 00:28:08,040
Speaker 1: we'll be the adult in a room, and well we'll

540
00:28:08,080 --> 00:28:10,560
Speaker 1: take care of that massive tax bill that you encounter.

541
00:28:10,800 --> 00:28:13,960
Speaker 1: Where I'm thinking, okay, that's nice of you, but half

542
00:28:13,960 --> 00:28:16,280
Speaker 1: the time you get it wrong and we're having to

543
00:28:16,760 --> 00:28:19,760
Speaker 1: pay extra. Yeah, there's just all these issues with it,

544
00:28:19,840 --> 00:28:22,639
Speaker 1: when in reality, all it is is just thinking, looking

545
00:28:22,640 --> 00:28:25,639
Speaker 1: ahead and setting that money aside every single month. But

546
00:28:25,800 --> 00:28:29,000
Speaker 1: which is the whole homeowner I'm prepared for, But should

547
00:28:29,040 --> 00:28:31,159
Speaker 1: he have to be on the hook for you know,

548
00:28:31,240 --> 00:28:34,679
Speaker 1: the seven thousand dollar drainage bill when he doesn't have

549
00:28:34,720 --> 00:28:39,200
Speaker 1: any equity in the house. No, probably probably not. He

550
00:28:39,200 --> 00:28:42,480
Speaker 1: would probably have to complain about that if if Yeah, yeah, no,

551
00:28:42,600 --> 00:28:44,480
Speaker 1: that's not fair to him. So he actually has a

552
00:28:44,560 --> 00:28:47,880
Speaker 1: lease that we wrote that even outlines what would happen

553
00:28:47,920 --> 00:28:51,320
Speaker 1: should we break up. It protects him, it protects me,

554
00:28:52,000 --> 00:28:53,840
Speaker 1: and we made it in a when we were in

555
00:28:53,880 --> 00:28:55,840
Speaker 1: a place where we're both trying to really look out

556
00:28:55,840 --> 00:28:58,120
Speaker 1: for each other. So he would have to pay rent

557
00:28:58,160 --> 00:29:01,680
Speaker 1: to live somewhere. Um, by living with me, he gets

558
00:29:01,840 --> 00:29:04,000
Speaker 1: really cheap wrint. Actually, like I said, the other side

559
00:29:04,000 --> 00:29:07,080
Speaker 1: rents for twelve fifty and it's a couple hundred under market.

560
00:29:07,160 --> 00:29:10,040
Speaker 1: He's only paying five hundred for rent, So he gets

561
00:29:10,080 --> 00:29:11,840
Speaker 1: cheaper rent, he gets to keep living with me, he

562
00:29:11,880 --> 00:29:15,200
Speaker 1: gets to help me, uh you know, pay on my house,

563
00:29:15,880 --> 00:29:18,160
Speaker 1: but he doesn't have any of the responsibilities that come

564
00:29:18,600 --> 00:29:23,000
Speaker 1: with homeownership. Yeah, and again that's that seems totally reasonable. Um.

565
00:29:23,000 --> 00:29:25,160
Speaker 1: It's it's funny that because it's interesting how some folks

566
00:29:25,200 --> 00:29:27,560
Speaker 1: would push back against that, because it kind of brings

567
00:29:27,640 --> 00:29:32,120
Speaker 1: up the frugal versus being cheap debate, right, And one

568
00:29:32,120 --> 00:29:34,280
Speaker 1: of the ways that Joel and I have defined someone

569
00:29:34,320 --> 00:29:36,800
Speaker 1: being cheap in the past is when you take your

570
00:29:36,800 --> 00:29:40,720
Speaker 1: frugal nous essentially and you impose that on somebody else, right,

571
00:29:41,040 --> 00:29:43,480
Speaker 1: And so that like that for instance, you know, like

572
00:29:43,520 --> 00:29:46,160
Speaker 1: you got a roommate situation, and one roommate wants the

573
00:29:46,200 --> 00:29:48,200
Speaker 1: A C to be cranked all of it down to

574
00:29:48,240 --> 00:29:50,440
Speaker 1: sixty seven, and the other roommates like, no, no, no, no,

575
00:29:50,760 --> 00:29:53,600
Speaker 1: we're gonna do like A two because we're gonna save

576
00:29:53,640 --> 00:29:57,040
Speaker 1: some money. And so in that sense, you're kind of like, well,

577
00:29:57,160 --> 00:29:59,280
Speaker 1: what what's happening there? The reason there's a conflict is

578
00:29:59,320 --> 00:30:01,840
Speaker 1: because you've got one person kind of imposing what it

579
00:30:01,920 --> 00:30:03,520
Speaker 1: is that they want to do in order to save

580
00:30:03,560 --> 00:30:07,000
Speaker 1: money on the other. But obviously your boyfriend doesn't have

581
00:30:07,080 --> 00:30:12,160
Speaker 1: to agree with whatever. The conditions are great, and it's

582
00:30:12,280 --> 00:30:16,000
Speaker 1: I guess it's a little more complicated because several adults.

583
00:30:16,040 --> 00:30:19,200
Speaker 1: We had several adult conversations over the course of several

584
00:30:19,240 --> 00:30:21,760
Speaker 1: weeks saying like, what do you feel is fair here?

585
00:30:22,080 --> 00:30:23,880
Speaker 1: And we went back and forth about it. There were

586
00:30:23,960 --> 00:30:27,880
Speaker 1: several arrangements that I was willing to go with as

587
00:30:27,920 --> 00:30:30,040
Speaker 1: long as both of us were being taken care of

588
00:30:30,120 --> 00:30:32,800
Speaker 1: and both of us were being fair. Just because I

589
00:30:32,800 --> 00:30:35,080
Speaker 1: own a house doesn't mean that you necessarily get to

590
00:30:35,160 --> 00:30:36,920
Speaker 1: live for free. And that's where both most of the

591
00:30:36,920 --> 00:30:40,280
Speaker 1: backlash comes from, where somebody is living in somebody else's

592
00:30:40,320 --> 00:30:42,840
Speaker 1: house for free and they're like, but I clean. I'm like,

593
00:30:42,920 --> 00:30:45,640
Speaker 1: you know, whatever is fair, but it feels fair between YouTube.

594
00:30:45,640 --> 00:30:48,520
Speaker 1: But I hope you have you know, plans in case

595
00:30:48,560 --> 00:30:52,960
Speaker 1: anything changes. If someone feels taken advantage of, that feeling

596
00:30:53,080 --> 00:30:56,240
Speaker 1: is only going to grow. And in our situation, neither

597
00:30:56,280 --> 00:30:58,280
Speaker 1: of us feel taken advantage of advantage of Both of

598
00:30:58,360 --> 00:31:00,600
Speaker 1: us feel like we're getting something out of the situation.

599
00:31:01,160 --> 00:31:03,080
Speaker 1: That's that's all that matters in this type of thing.

600
00:31:03,120 --> 00:31:05,120
Speaker 1: And even if that doesn't mean free rent for someone,

601
00:31:05,200 --> 00:31:08,640
Speaker 1: maybe you're contributing somehow else that it feels fair to

602
00:31:08,760 --> 00:31:11,040
Speaker 1: both of you. Totally. Yeah, it sounds like you've got

603
00:31:11,080 --> 00:31:13,480
Speaker 1: a great arrangement, is what I'm getting for sure. Yeah. No,

604
00:31:13,560 --> 00:31:15,240
Speaker 1: I agreed. And the way you explained it in your

605
00:31:15,280 --> 00:31:18,239
Speaker 1: video too, I was like, yes, yes, yes, Sarah spot on.

606
00:31:18,280 --> 00:31:21,080
Speaker 1: Sarah's taking care of her investment, but she's also taking

607
00:31:21,080 --> 00:31:23,280
Speaker 1: care of her boyfriend at the same time. I feel

608
00:31:23,320 --> 00:31:25,560
Speaker 1: like it it's a win win for everybody involved, Like

609
00:31:25,600 --> 00:31:28,040
Speaker 1: the way the way you're handling this, I guess I

610
00:31:28,040 --> 00:31:30,720
Speaker 1: want to know to Sarah what we're talking about relationships.

611
00:31:31,280 --> 00:31:33,440
Speaker 1: I feel like a lot of and you've mentioned this,

612
00:31:33,520 --> 00:31:36,520
Speaker 1: A lot of the personal finance advice out there excuse

613
00:31:36,600 --> 00:31:41,000
Speaker 1: towards married people, excuse towards couples, and so I know

614
00:31:41,160 --> 00:31:43,080
Speaker 1: that you even mentioned that kind of at the start

615
00:31:43,160 --> 00:31:45,560
Speaker 1: of this interview. You were like, Hey, the other people

616
00:31:45,560 --> 00:31:48,400
Speaker 1: out there talking about budgeting were married with kids, and

617
00:31:48,520 --> 00:31:50,440
Speaker 1: I felt like I had a different perspective to share.

618
00:31:50,680 --> 00:31:54,640
Speaker 1: So yeah, talk to us about maybe the differences or

619
00:31:54,720 --> 00:31:58,840
Speaker 1: the nuance that's necessary to help reach and teach people

620
00:31:59,240 --> 00:32:02,200
Speaker 1: who are are not married, who are single, who don't

621
00:32:02,200 --> 00:32:04,680
Speaker 1: want to get married, um, who don't want to have kids,

622
00:32:05,080 --> 00:32:07,360
Speaker 1: How should we talk about budgeting differently in order to

623
00:32:07,400 --> 00:32:10,280
Speaker 1: help those people out more? And all these different phases

624
00:32:10,280 --> 00:32:13,440
Speaker 1: of life um or kind of like categories of life.

625
00:32:13,880 --> 00:32:16,120
Speaker 1: The money is different. We have different bills. I don't

626
00:32:16,120 --> 00:32:17,600
Speaker 1: have to pay for or I don't have to save

627
00:32:17,680 --> 00:32:20,480
Speaker 1: for kid college right now, I don't have to um

628
00:32:20,560 --> 00:32:25,080
Speaker 1: pay for childcare or think about you know, upcoming school

629
00:32:25,120 --> 00:32:28,640
Speaker 1: supplies or anything like that. So I I try to

630
00:32:28,880 --> 00:32:32,800
Speaker 1: defer any questions about like how to you know, budget

631
00:32:32,880 --> 00:32:35,120
Speaker 1: for kids and stuff like that to some of my

632
00:32:35,280 --> 00:32:37,880
Speaker 1: wonderful friends in the PF community that have kids and

633
00:32:37,920 --> 00:32:41,240
Speaker 1: have lived that life. Um, there are some overall basic

634
00:32:41,360 --> 00:32:44,840
Speaker 1: money tenants that everyone has to essentially learn how to

635
00:32:44,880 --> 00:32:48,360
Speaker 1: deal with, um just with you know, spending less than

636
00:32:48,400 --> 00:32:51,920
Speaker 1: you make and prioritizing spending and stuff like that. But

637
00:32:52,160 --> 00:32:55,880
Speaker 1: for people who are single, it's kind of it can

638
00:32:55,920 --> 00:32:59,560
Speaker 1: be really wonderful. Actually, a lot of people kind of

639
00:32:59,600 --> 00:33:02,680
Speaker 1: look down on singles. I mean, yeah, we don't have

640
00:33:02,760 --> 00:33:05,520
Speaker 1: duel incomes to hit debt with, but at the same time,

641
00:33:05,520 --> 00:33:09,560
Speaker 1: we also don't have to um ask anyone's permission or

642
00:33:09,920 --> 00:33:13,840
Speaker 1: negotiate on any of the things that we want. Three

643
00:33:13,880 --> 00:33:16,960
Speaker 1: campus in a week and nobody can say nobody can

644
00:33:17,040 --> 00:33:20,680
Speaker 1: stop me, Uh yeah, there are. I mean I did

645
00:33:20,920 --> 00:33:25,040
Speaker 1: the majority of my debt, the entirety of my debt payoff,

646
00:33:25,280 --> 00:33:27,720
Speaker 1: by myself, which also meant that I didn't have to

647
00:33:27,840 --> 00:33:31,480
Speaker 1: compromise if I wanted to eat lasagna for a week

648
00:33:31,520 --> 00:33:34,440
Speaker 1: because that would save me money. I did that. Versus

649
00:33:34,600 --> 00:33:37,440
Speaker 1: now there's a near daily discussion of what are we

650
00:33:37,440 --> 00:33:39,600
Speaker 1: gonna eat? No, I don't want that, No, no, no no, no, no, no,

651
00:33:39,800 --> 00:33:43,040
Speaker 1: And when you have a partner, you have to, you know,

652
00:33:43,120 --> 00:33:45,160
Speaker 1: do what's best for both of you and really invest

653
00:33:45,200 --> 00:33:48,560
Speaker 1: in that relationship, which often costs more money. It is

654
00:33:48,560 --> 00:33:52,200
Speaker 1: worth it. But single people have kind of a superpower

655
00:33:52,720 --> 00:33:55,880
Speaker 1: when it comes to money because they are the only

656
00:33:55,920 --> 00:33:58,160
Speaker 1: ones that have to make those decisions, which means they

657
00:33:58,160 --> 00:34:00,680
Speaker 1: are the only they get to make all of those

658
00:34:00,680 --> 00:34:03,240
Speaker 1: decisions by themselves. And I think that's something really powerful

659
00:34:03,280 --> 00:34:06,040
Speaker 1: that a lot of people don't really consider. There's there was,

660
00:34:06,120 --> 00:34:07,640
Speaker 1: like I said, when I started, there was a lot

661
00:34:07,640 --> 00:34:10,719
Speaker 1: of like, you know, we decided this on YouTube, and

662
00:34:10,760 --> 00:34:13,120
Speaker 1: I'm like, where I compromise on this so that we

663
00:34:13,160 --> 00:34:14,759
Speaker 1: could do this because it was really important to him,

664
00:34:14,760 --> 00:34:16,960
Speaker 1: And I'm like, I don't have to compromise for anybody

665
00:34:19,680 --> 00:34:22,360
Speaker 1: three times for different jobs. I did what I wanted.

666
00:34:22,840 --> 00:34:24,520
Speaker 1: I love that perspective because I feel like you, you

667
00:34:24,600 --> 00:34:26,920
Speaker 1: usually hear the opposite, like it's so much, it's so

668
00:34:27,000 --> 00:34:30,440
Speaker 1: much harder, and and you reframing it as being single

669
00:34:30,600 --> 00:34:32,960
Speaker 1: as being a superpower, as being able to kind of

670
00:34:33,320 --> 00:34:36,240
Speaker 1: be the sole decision maker, and you have more leverage

671
00:34:36,280 --> 00:34:39,240
Speaker 1: over your own financial decisions where you move, what jobs,

672
00:34:39,239 --> 00:34:42,040
Speaker 1: you take. The extreme cost cutting measures you might enact.

673
00:34:42,160 --> 00:34:44,799
Speaker 1: I feel like that to me, Like if I was saying,

674
00:34:44,840 --> 00:34:46,520
Speaker 1: if I'm single listening to this right now, I'm like,

675
00:34:46,920 --> 00:34:49,400
Speaker 1: wait a second, You're right, Like I have more power

676
00:34:49,480 --> 00:34:51,440
Speaker 1: than maybe I previously thought. I think, I think it's

677
00:34:51,440 --> 00:34:54,279
Speaker 1: a really really good way to think about it. Well,

678
00:34:54,320 --> 00:34:58,279
Speaker 1: I'm glad. It's it's empowering to have total control over

679
00:34:58,320 --> 00:35:01,520
Speaker 1: your own money. And you know, most couples, I believe,

680
00:35:01,640 --> 00:35:05,000
Speaker 1: probably have very similar goals. And it's great if you

681
00:35:05,040 --> 00:35:07,279
Speaker 1: have duel incomes where you can work towards a goal

682
00:35:07,400 --> 00:35:13,880
Speaker 1: faster and together. But don't don't discount the singles. And

683
00:35:13,880 --> 00:35:16,200
Speaker 1: that's assuming that that couple is on the same page,

684
00:35:16,200 --> 00:35:19,160
Speaker 1: that they have talked through those important topics, which we'd

685
00:35:19,160 --> 00:35:21,959
Speaker 1: recommend for you to do before a lot don't. Yeah,

686
00:35:22,000 --> 00:35:23,480
Speaker 1: but but a lot of folks don't, and so you

687
00:35:23,520 --> 00:35:26,879
Speaker 1: are faced with some difficult discussions as folks are on

688
00:35:27,120 --> 00:35:31,000
Speaker 1: different pages. Sarah, you know you you mentioned the adwagon. Uh,

689
00:35:31,040 --> 00:35:34,200
Speaker 1: you're there in Texas, Texas, A and M. Can you

690
00:35:34,200 --> 00:35:36,840
Speaker 1: tell us a little bit about your your journey into

691
00:35:36,880 --> 00:35:38,839
Speaker 1: investing in real estate? You know, so right, like right

692
00:35:38,840 --> 00:35:42,640
Speaker 1: now you've got the duplex you rent out on Airbnb

693
00:35:42,800 --> 00:35:45,200
Speaker 1: through the through your camper, Like, what do you know

694
00:35:45,360 --> 00:35:47,960
Speaker 1: now that you've learned recently over the past couple of

695
00:35:48,000 --> 00:35:51,040
Speaker 1: years that you wish you knew maybe before you went

696
00:35:51,120 --> 00:35:54,480
Speaker 1: down this path of real estate investing. I mean I

697
00:35:54,560 --> 00:35:58,680
Speaker 1: kind of stumbled upon real estate investing. I actually once,

698
00:35:58,920 --> 00:36:02,080
Speaker 1: when I was paying off debt, I was extremely hyper

699
00:36:02,120 --> 00:36:04,759
Speaker 1: focused on that, and many people would ask me like, well,

700
00:36:04,760 --> 00:36:07,040
Speaker 1: what are you gonna do next. I'm like saving emergency fund,

701
00:36:07,280 --> 00:36:09,040
Speaker 1: like that's all I can think of, and I'm like, eventually,

702
00:36:09,040 --> 00:36:11,200
Speaker 1: I know I'm going to invest. But I hadn't really

703
00:36:12,000 --> 00:36:13,799
Speaker 1: I had never really heard of real estate is something

704
00:36:13,840 --> 00:36:16,640
Speaker 1: that was accessible to normal people. I thought most real

705
00:36:16,760 --> 00:36:19,839
Speaker 1: estate was owned by giant corporations and I rented from

706
00:36:19,920 --> 00:36:26,160
Speaker 1: any of them. Yeah, um, like a normal thing that's approachable. Yeah,

707
00:36:26,200 --> 00:36:28,440
Speaker 1: I totally get that. No, it absolutely doesn't. And no,

708
00:36:28,680 --> 00:36:32,959
Speaker 1: I was never I didn't really know anyone that owned rentals,

709
00:36:33,400 --> 00:36:37,040
Speaker 1: just you know, growing up. So I actually stumbled upon

710
00:36:37,080 --> 00:36:41,080
Speaker 1: the Bigger Pockets community. Minion Scott had me on the

711
00:36:41,239 --> 00:36:44,279
Speaker 1: one of the first episodes of their Bigger Pockets Money

712
00:36:44,280 --> 00:36:47,320
Speaker 1: podcasts and they were asking me about my debt journey,

713
00:36:47,480 --> 00:36:48,640
Speaker 1: and they were kind of like, what are you gonna

714
00:36:48,640 --> 00:36:51,120
Speaker 1: do next? And I'm like, I don't know, other than

715
00:36:51,280 --> 00:36:55,080
Speaker 1: the saving and investing. And I've quickly figured out later

716
00:36:55,120 --> 00:36:57,080
Speaker 1: that investing was kind of boring to me. And that

717
00:36:57,120 --> 00:36:59,160
Speaker 1: doesn't mean I don't do it. It just means that

718
00:36:59,200 --> 00:37:02,680
Speaker 1: I buy index and I leave them alone forever. Um.

719
00:37:02,719 --> 00:37:06,640
Speaker 1: I'm not interested at all in day trading or really

720
00:37:06,640 --> 00:37:09,840
Speaker 1: like crypto or anything like that, or like comparing stocks.

721
00:37:09,920 --> 00:37:12,840
Speaker 1: It bores me to tears and I don't want to

722
00:37:12,840 --> 00:37:15,680
Speaker 1: get that research. What I figured out did interest me

723
00:37:16,360 --> 00:37:20,040
Speaker 1: was how you could get into real estate, put in

724
00:37:20,160 --> 00:37:23,560
Speaker 1: sweat equity and then make more money that way, and

725
00:37:23,600 --> 00:37:26,360
Speaker 1: you could make passive money in real estate. So I

726
00:37:26,400 --> 00:37:28,799
Speaker 1: got very deep into that community and learned all about

727
00:37:28,800 --> 00:37:32,560
Speaker 1: house hacking and found lots of people in the space

728
00:37:32,560 --> 00:37:36,560
Speaker 1: that we're doing really interesting things. And I decided I

729
00:37:36,560 --> 00:37:39,720
Speaker 1: wanted to be an ethical landlord UM. And that basically

730
00:37:39,719 --> 00:37:42,960
Speaker 1: means to me that I charge an extremely fair price,

731
00:37:43,040 --> 00:37:46,600
Speaker 1: usually under market, and I only rent out places that

732
00:37:46,680 --> 00:37:49,799
Speaker 1: I would be overjoyed to live in, and I keep

733
00:37:49,840 --> 00:37:55,600
Speaker 1: my units extremely nice um. And I've had just really

734
00:37:55,600 --> 00:37:58,440
Speaker 1: great success with that so far. I also decided to

735
00:37:58,840 --> 00:38:02,200
Speaker 1: great tenants having a great place to live, you know, absolutely,

736
00:38:02,600 --> 00:38:04,680
Speaker 1: And I fixed things really fast. I mean I live

737
00:38:04,760 --> 00:38:06,879
Speaker 1: next door in the duplex, so I can be over

738
00:38:06,880 --> 00:38:10,960
Speaker 1: there in seconds if something goes wrong, and I do

739
00:38:11,000 --> 00:38:13,080
Speaker 1: a lot of the work myself. I use the f

740
00:38:13,280 --> 00:38:16,040
Speaker 1: h A to buy my first home and which I

741
00:38:16,080 --> 00:38:18,120
Speaker 1: live in, of course, and I found that to be

742
00:38:18,160 --> 00:38:20,319
Speaker 1: a super accessible way to get into what otherwise I

743
00:38:20,320 --> 00:38:24,279
Speaker 1: wouldn't have had enough money to get in with down

744
00:38:24,400 --> 00:38:27,480
Speaker 1: on my duplex, even though it wasn't that expensive. And yeah,

745
00:38:27,520 --> 00:38:29,960
Speaker 1: there's just this whole world out there of real estate.

746
00:38:30,400 --> 00:38:32,399
Speaker 1: And once I figured out that I could get into it,

747
00:38:32,960 --> 00:38:35,960
Speaker 1: I was extremely excited because I didn't have a lot

748
00:38:36,000 --> 00:38:38,000
Speaker 1: of money. I've never had a lot of money. But

749
00:38:38,520 --> 00:38:42,080
Speaker 1: if I could put in work myself to make something

750
00:38:42,719 --> 00:38:45,839
Speaker 1: really nice, I'm all in for that. I love it,

751
00:38:45,920 --> 00:38:49,800
Speaker 1: and I love how you're running your operation. It drives

752
00:38:49,840 --> 00:38:51,480
Speaker 1: with kind of how Matt and I think about, talk

753
00:38:51,560 --> 00:38:53,759
Speaker 1: about and run our own rental properties that we have.

754
00:38:53,840 --> 00:38:56,120
Speaker 1: You know, we just have a handful, but I think

755
00:38:56,120 --> 00:38:58,920
Speaker 1: a lot of people think that it takes having i

756
00:38:58,920 --> 00:39:02,200
Speaker 1: don't know, hundreds of doors or only an apartment complex,

757
00:39:02,320 --> 00:39:05,120
Speaker 1: or like the goal with investing in real estate has

758
00:39:05,160 --> 00:39:08,920
Speaker 1: to be massive, but like you're a living proof of

759
00:39:08,960 --> 00:39:12,759
Speaker 1: how just a kind of a seemingly small real estate

760
00:39:12,800 --> 00:39:16,600
Speaker 1: investment like one duplex and then a camper in a yard,

761
00:39:16,920 --> 00:39:19,960
Speaker 1: like how that can provide just an insane amount of

762
00:39:20,040 --> 00:39:24,400
Speaker 1: financial security. Absolutely, one rental property can completely change your

763
00:39:24,400 --> 00:39:28,520
Speaker 1: life's financial rectory because most people walk through life with

764
00:39:28,840 --> 00:39:32,160
Speaker 1: exactly one stream of income, and if that's ever threatened,

765
00:39:33,080 --> 00:39:37,360
Speaker 1: they're a little bit screwed. I can't imagine not having

766
00:39:37,640 --> 00:39:40,919
Speaker 1: multiple streams of income at this point. Um one because

767
00:39:40,920 --> 00:39:43,600
Speaker 1: I enjoy the challenge, but too because you know, I

768
00:39:43,960 --> 00:39:45,879
Speaker 1: started out from a place where I lost my job

769
00:39:45,880 --> 00:39:49,319
Speaker 1: and I was screwed. So now having multiple things come

770
00:39:49,360 --> 00:39:54,280
Speaker 1: in if one of those streams stops, I'm still fine.

771
00:39:54,360 --> 00:39:56,520
Speaker 1: I have so many options that I can explore. And

772
00:39:56,560 --> 00:39:59,359
Speaker 1: that took a long time to build up, but has

773
00:39:59,400 --> 00:40:03,200
Speaker 1: been incre to believe rewarding. It doesn't happen overnight, that'st

774
00:40:03,200 --> 00:40:04,719
Speaker 1: for sure. I think a lot of that's another thing

775
00:40:04,760 --> 00:40:06,279
Speaker 1: that people struggle with as they're trying to get their

776
00:40:06,280 --> 00:40:09,240
Speaker 1: money together, They're trying to to build multiple streams of income.

777
00:40:09,280 --> 00:40:11,880
Speaker 1: They're like, Okay, I've been doing it for like three months,

778
00:40:11,880 --> 00:40:13,839
Speaker 1: Why am I not feeling it? But it takes time

779
00:40:13,880 --> 00:40:17,040
Speaker 1: to to to build up that cash cushion and to

780
00:40:17,120 --> 00:40:19,240
Speaker 1: continue to invest in ways that are going to grow

781
00:40:19,440 --> 00:40:23,520
Speaker 1: your monthly income to build that cash flow. Speaking of that, uh, Sarah,

782
00:40:23,520 --> 00:40:26,120
Speaker 1: we want to ask you more about building your business

783
00:40:26,120 --> 00:40:29,200
Speaker 1: and building that side hustle and that cash flow. We'll

784
00:40:29,239 --> 00:40:40,640
Speaker 1: get to some questions on that right after this. All right,

785
00:40:40,640 --> 00:40:44,080
Speaker 1: we are back in We are talking with the budget girl, uh,

786
00:40:44,120 --> 00:40:47,719
Speaker 1: and speaking of those multiple streams of income, Sarah, let's

787
00:40:47,719 --> 00:40:50,239
Speaker 1: talk about building an online business. Can we call her

788
00:40:50,280 --> 00:40:54,040
Speaker 1: TVG for short? You have to ask her, Okay, Sarah?

789
00:40:54,080 --> 00:40:59,839
Speaker 1: Is that okay? Can we call you tv g R? Okay,

790
00:41:00,000 --> 00:41:06,640
Speaker 1: she's budget girl, She's not the budget I'm sorry, but okay,

791
00:41:06,719 --> 00:41:09,520
Speaker 1: budget girl online. Like, it looks like you're you're making

792
00:41:09,719 --> 00:41:12,440
Speaker 1: quite a bit of money there, maybe even more than

793
00:41:12,480 --> 00:41:14,880
Speaker 1: you're making at your day job. And so is it

794
00:41:14,920 --> 00:41:18,120
Speaker 1: your goal to go full time with this business with

795
00:41:18,200 --> 00:41:20,799
Speaker 1: this what originally started out as a side hustle, which

796
00:41:20,880 --> 00:41:22,920
Speaker 1: originally started as a way for you to kind of

797
00:41:22,960 --> 00:41:25,520
Speaker 1: document your progress and talk to other people about, you know,

798
00:41:25,600 --> 00:41:27,799
Speaker 1: being frugal and saving money. Do you want to go

799
00:41:27,880 --> 00:41:29,440
Speaker 1: full time with that or is this just kind of

800
00:41:29,520 --> 00:41:33,480
Speaker 1: more of like a lucrative labor of love on the side. Uh,

801
00:41:33,520 --> 00:41:38,600
Speaker 1: the entrepreneur question. Um, So, every every single entrepreneur gets

802
00:41:38,640 --> 00:41:40,640
Speaker 1: kind of that, like if you're doing something on the side,

803
00:41:40,680 --> 00:41:43,680
Speaker 1: do you want to take it full time? And historically

804
00:41:43,719 --> 00:41:46,080
Speaker 1: my answer has always been, like, I really like my job.

805
00:41:46,160 --> 00:41:48,960
Speaker 1: I work in social media at Texas A and M University.

806
00:41:49,280 --> 00:41:52,319
Speaker 1: The benefits are great. I love having health insurance that

807
00:41:52,360 --> 00:41:57,759
Speaker 1: I don't have to pay for the retirements. Great. Yeah,

808
00:41:57,920 --> 00:42:00,000
Speaker 1: I'm doing this on my lunch break. They respect my talent.

809
00:42:00,000 --> 00:42:03,120
Speaker 1: I'm um and coming from journalism where I was previous

810
00:42:03,160 --> 00:42:05,920
Speaker 1: to hear um, where I worked like eighty hours a

811
00:42:05,960 --> 00:42:08,960
Speaker 1: week for like a dollar and a quarter. Uh, It's

812
00:42:09,040 --> 00:42:13,040
Speaker 1: just this is really fantastic. Um. I I really like

813
00:42:13,120 --> 00:42:15,760
Speaker 1: having options with money, like I was talking about before.

814
00:42:16,120 --> 00:42:19,040
Speaker 1: So you know, one day, maybe I'll have enough rental

815
00:42:19,080 --> 00:42:21,960
Speaker 1: income coming in that I won't have to clock in

816
00:42:22,000 --> 00:42:23,839
Speaker 1: for forty hours at a job, or maybe I could

817
00:42:23,840 --> 00:42:26,359
Speaker 1: go a little bit more part time. I won't say

818
00:42:26,360 --> 00:42:30,480
Speaker 1: it's not challenging to be juggling all of these different things, um,

819
00:42:30,520 --> 00:42:34,800
Speaker 1: and sometimes it's a little bit exhausting. But the current

820
00:42:34,840 --> 00:42:37,439
Speaker 1: plan is not to go full time for Budget Girl,

821
00:42:38,000 --> 00:42:41,160
Speaker 1: um just because and I did make more money last

822
00:42:41,200 --> 00:42:43,040
Speaker 1: year off of Budget Girl than I did from my

823
00:42:43,120 --> 00:42:46,120
Speaker 1: day job. But it's you know, it's it's kind of

824
00:42:46,120 --> 00:42:49,120
Speaker 1: a different labor and I do love it, but it

825
00:42:49,200 --> 00:42:51,480
Speaker 1: takes a lot more work to be getting in like

826
00:42:51,520 --> 00:42:53,799
Speaker 1: sponsorships and doing all the things that it takes to

827
00:42:53,840 --> 00:42:56,799
Speaker 1: create money for Budget Girl then it does from my

828
00:42:56,920 --> 00:43:00,279
Speaker 1: day job. Believe it or not, it gave me or not,

829
00:43:00,360 --> 00:43:03,719
Speaker 1: I have a productive day. I don't like film or

830
00:43:03,880 --> 00:43:06,200
Speaker 1: post the articles. I'm not getting paid for b G.

831
00:43:06,480 --> 00:43:09,120
Speaker 1: So plus all of those I mean all those benefits,

832
00:43:09,160 --> 00:43:11,920
Speaker 1: I mean the fact that so you're with a university,

833
00:43:12,120 --> 00:43:16,320
Speaker 1: do you have a match? I assume actually, like teachers

834
00:43:16,400 --> 00:43:19,799
Speaker 1: retirement system, they have a really nice match. Nice. Yeah,

835
00:43:20,120 --> 00:43:21,640
Speaker 1: you've got that help, and you've got the help. And

836
00:43:21,680 --> 00:43:25,520
Speaker 1: ifits expensive, well then you know, as individuals, we have

837
00:43:25,600 --> 00:43:27,520
Speaker 1: to go out there on the open market and get

838
00:43:27,520 --> 00:43:30,399
Speaker 1: our own health insurance plans for our families which is

839
00:43:30,600 --> 00:43:35,040
Speaker 1: not inexpensive, not fun or inexpensive, and just dealing with

840
00:43:35,080 --> 00:43:37,520
Speaker 1: like the healthy stem in general, much less if you're

841
00:43:38,040 --> 00:43:42,000
Speaker 1: on something that's not like a massive corporation plan. It's

842
00:43:42,040 --> 00:43:44,959
Speaker 1: it's hard, and I don't particularly want to deal with that.

843
00:43:46,480 --> 00:43:48,799
Speaker 1: I am also, I'll just say I am not the

844
00:43:48,840 --> 00:43:51,680
Speaker 1: best at monetizing Budget Girl. I have a lot of

845
00:43:51,680 --> 00:43:54,440
Speaker 1: friends in the PF space that are bringing in, you know,

846
00:43:54,520 --> 00:43:58,120
Speaker 1: quadruple what I am, because they're really great at affiliate

847
00:43:58,120 --> 00:44:01,959
Speaker 1: links and doing you know, more monetary integrations. I don't

848
00:44:01,960 --> 00:44:04,160
Speaker 1: even have any courses or anything like that that I sell.

849
00:44:04,200 --> 00:44:07,400
Speaker 1: I just sell my budgets on Etsy. So it's, you know,

850
00:44:07,640 --> 00:44:11,040
Speaker 1: it's quite a labor and I'm not ready to make

851
00:44:11,080 --> 00:44:14,840
Speaker 1: that be my only source or my main source of income.

852
00:44:15,600 --> 00:44:17,120
Speaker 1: I also think I might enjoy it a little less

853
00:44:17,160 --> 00:44:19,840
Speaker 1: if I did. Yeah, No, I think that's probably true.

854
00:44:19,880 --> 00:44:22,840
Speaker 1: If it becomes like it is, kind of, like Matt said,

855
00:44:22,880 --> 00:44:24,359
Speaker 1: a labor of love in a lot of ways for

856
00:44:24,400 --> 00:44:27,240
Speaker 1: you that makes you money, um, and if you also

857
00:44:27,360 --> 00:44:29,120
Speaker 1: enjoy your day job and you get to enjoy two

858
00:44:29,200 --> 00:44:32,279
Speaker 1: things without taking on this onus of having to force

859
00:44:32,320 --> 00:44:35,400
Speaker 1: Budget Girl to make two or three times as much money.

860
00:44:35,440 --> 00:44:36,960
Speaker 1: Like maybe you are in the sweet spot right, Like

861
00:44:36,960 --> 00:44:39,480
Speaker 1: there's no need to go all in on that, Okay,

862
00:44:39,480 --> 00:44:41,880
Speaker 1: So as you've got sort of these different pursuits. How like,

863
00:44:41,920 --> 00:44:44,640
Speaker 1: how is it that you decide what it is that

864
00:44:44,719 --> 00:44:47,520
Speaker 1: you want to continue pursuing, right, and so, like we've

865
00:44:47,520 --> 00:44:50,960
Speaker 1: talked about b G being sort of a labor of love.

866
00:44:51,000 --> 00:44:52,719
Speaker 1: You're not totally sure if you want to go full

867
00:44:52,760 --> 00:44:54,920
Speaker 1: time with it, But like, like, what advice would you

868
00:44:54,920 --> 00:44:58,040
Speaker 1: give somebody who does have something kind of bacon in

869
00:44:58,080 --> 00:44:59,480
Speaker 1: the oven, Like they've got kind of got this plot

870
00:44:59,560 --> 00:45:03,000
Speaker 1: going on the back burner. Um, they're thinking about ramping

871
00:45:03,000 --> 00:45:05,680
Speaker 1: it up, but maybe it's not generating income, but it's

872
00:45:05,680 --> 00:45:09,240
Speaker 1: something that they like, How do you recommend for folks

873
00:45:09,280 --> 00:45:12,600
Speaker 1: to approach that conundrum if they're finding themselves short on time,

874
00:45:12,880 --> 00:45:14,799
Speaker 1: if they're realizing that they're going to have to cut

875
00:45:14,840 --> 00:45:19,160
Speaker 1: back somewhere. No, that's an excellent question. So I'm sure

876
00:45:19,200 --> 00:45:22,560
Speaker 1: you'll be shocked, But I sincerely hope that you're keeping

877
00:45:22,680 --> 00:45:25,920
Speaker 1: a very accurate, in detailed budget of your income and

878
00:45:25,960 --> 00:45:29,200
Speaker 1: expenses for whatever fan chair you're doing. It's very important

879
00:45:29,200 --> 00:45:33,040
Speaker 1: for tax purposes and for looking at when you're trying

880
00:45:33,040 --> 00:45:35,279
Speaker 1: to decide whether this venture is worth your time or not.

881
00:45:35,760 --> 00:45:38,520
Speaker 1: So I actually recently did a video on my channel

882
00:45:38,520 --> 00:45:41,239
Speaker 1: about how much I made a slash loss in my

883
00:45:41,320 --> 00:45:44,680
Speaker 1: first six months of Airbnb and renting the camper, we

884
00:45:44,680 --> 00:45:46,759
Speaker 1: had several things that happened. I had to replace the

885
00:45:47,040 --> 00:45:49,440
Speaker 1: I had some plumbing issues. I had to replace the lock,

886
00:45:49,520 --> 00:45:53,160
Speaker 1: which was a big custom order thing. I've had to

887
00:45:53,160 --> 00:45:56,960
Speaker 1: replace the A C. And I actually net negative for

888
00:45:57,040 --> 00:46:00,360
Speaker 1: my first six months, So that's at that point you

889
00:46:00,360 --> 00:46:03,920
Speaker 1: have to kind of consider is this worth my time

890
00:46:04,520 --> 00:46:07,279
Speaker 1: and think about your long term plans for things. So

891
00:46:07,400 --> 00:46:11,040
Speaker 1: right now, the main issue with my campers that it's

892
00:46:11,120 --> 00:46:13,960
Speaker 1: at an RV park, which means it costs five a

893
00:46:13,960 --> 00:46:16,560
Speaker 1: month and lot rent to be there, and that money

894
00:46:16,680 --> 00:46:19,799
Speaker 1: is kind of just going away each month. The long

895
00:46:19,920 --> 00:46:22,280
Speaker 1: term plan with it is to buy some land, install

896
00:46:22,360 --> 00:46:25,840
Speaker 1: it permanently, and then be able to build out you know,

897
00:46:26,080 --> 00:46:29,279
Speaker 1: different short term rentals on that piece of land, or

898
00:46:29,280 --> 00:46:32,560
Speaker 1: have a little bit more stuff going on. So I'm

899
00:46:32,600 --> 00:46:36,600
Speaker 1: definitely constantly kind of reconsidering how much time this thing

900
00:46:36,719 --> 00:46:39,640
Speaker 1: is worth. But I do have a long term action

901
00:46:39,680 --> 00:46:42,200
Speaker 1: plan for this, and I am of course willing to,

902
00:46:42,480 --> 00:46:44,439
Speaker 1: you know, pull the plug on it. If I am

903
00:46:44,680 --> 00:46:46,759
Speaker 1: two years from now, if I'm still losing money on

904
00:46:46,800 --> 00:46:49,560
Speaker 1: the agwagon, it's going to be time to sell it.

905
00:46:50,400 --> 00:46:52,200
Speaker 1: So you do have to kind of consider what your

906
00:46:52,200 --> 00:46:54,239
Speaker 1: time is worth, if there's better things you could be

907
00:46:54,280 --> 00:46:56,840
Speaker 1: doing with your time. It's not always all about money.

908
00:46:57,120 --> 00:47:00,560
Speaker 1: I love having this little short term rental. I find

909
00:47:00,600 --> 00:47:04,040
Speaker 1: a lot of joy in hosting and having this, but

910
00:47:05,320 --> 00:47:07,680
Speaker 1: I also have longer term plans on how to make

911
00:47:07,760 --> 00:47:09,799
Speaker 1: it make more money than it currently is. In the

912
00:47:09,800 --> 00:47:11,680
Speaker 1: main reason I didn't make money the first six months

913
00:47:11,719 --> 00:47:14,200
Speaker 1: is because I had several things pop up, and that

914
00:47:14,280 --> 00:47:18,919
Speaker 1: could have happened at like a regular rental too. But yeah,

915
00:47:19,040 --> 00:47:22,080
Speaker 1: just keep really good records and reassess and make sure

916
00:47:22,160 --> 00:47:24,799
Speaker 1: that all of your ventures are still aligned with what

917
00:47:24,840 --> 00:47:27,680
Speaker 1: you want to do long term. Yeah. Yeah, And I

918
00:47:27,680 --> 00:47:29,440
Speaker 1: think what you just said there is great. Right, It's

919
00:47:29,480 --> 00:47:32,400
Speaker 1: not just about the money, right. You can have something

920
00:47:32,440 --> 00:47:34,480
Speaker 1: maybe that isn't making you money, but I think you

921
00:47:34,520 --> 00:47:36,359
Speaker 1: have to kind of change the name of it at

922
00:47:36,400 --> 00:47:38,160
Speaker 1: that point, Like, at that point, it's no longer the

923
00:47:38,200 --> 00:47:41,720
Speaker 1: side hustle. It's no longer this venture. It's a hobby

924
00:47:42,200 --> 00:47:44,319
Speaker 1: and that's all you find. And you're kind of even

925
00:47:44,320 --> 00:47:46,600
Speaker 1: speaking to that at the beginning where maybe your splurge

926
00:47:46,600 --> 00:47:49,480
Speaker 1: initially was you know, some of these different campers. It

927
00:47:49,520 --> 00:47:51,839
Speaker 1: can be a hobby that cost you money, as long

928
00:47:51,880 --> 00:47:54,560
Speaker 1: as you're not trying to convince yourself that like, Okay, no,

929
00:47:54,680 --> 00:47:57,160
Speaker 1: well this is a business, and it's like, well, it

930
00:47:57,280 --> 00:47:59,520
Speaker 1: is a business, but it depends on, you know, how

931
00:47:59,560 --> 00:48:02,719
Speaker 1: profitable that business might be depends on that does come

932
00:48:02,719 --> 00:48:04,720
Speaker 1: down to the numbers. But I think it is okay

933
00:48:04,719 --> 00:48:07,360
Speaker 1: for things to not make money. The flip side, it

934
00:48:07,400 --> 00:48:08,919
Speaker 1: can make a lot of money and you can say

935
00:48:09,000 --> 00:48:10,600
Speaker 1: I don't love this to become my full time thing,

936
00:48:10,640 --> 00:48:13,600
Speaker 1: like I hate this, I need to sell it and

937
00:48:13,600 --> 00:48:15,879
Speaker 1: then put that money into somewhere else that you do enjoy,

938
00:48:15,960 --> 00:48:18,080
Speaker 1: because life should be enjoyed. Money is meant to be

939
00:48:18,239 --> 00:48:21,200
Speaker 1: spent um. You just have to make choices about how

940
00:48:21,239 --> 00:48:23,520
Speaker 1: to spend it in the best way for you. Totally.

941
00:48:23,560 --> 00:48:25,879
Speaker 1: I love it absolutely, Sarah, Hey, thank you so much

942
00:48:25,960 --> 00:48:28,720
Speaker 1: for joining us on this episode of How the Money.

943
00:48:28,800 --> 00:48:31,160
Speaker 1: How can our listeners find out more about you and

944
00:48:31,160 --> 00:48:34,160
Speaker 1: what you're up to? Absolutely, I would love for you

945
00:48:34,200 --> 00:48:36,719
Speaker 1: guys to come visit me on YouTube at YouTube dot com,

946
00:48:36,719 --> 00:48:39,319
Speaker 1: slash budget Girl or at budget girl dot com. I

947
00:48:39,440 --> 00:48:44,839
Speaker 1: have so many free resources, budgets, motivational templates, and instructional

948
00:48:45,000 --> 00:48:48,120
Speaker 1: articles if you want to get inspired with money. There's

949
00:48:48,160 --> 00:48:50,000
Speaker 1: your place, and you can also find me on social

950
00:48:50,080 --> 00:48:54,080
Speaker 1: at go budget Girl on Instagram, Twitter, Facebook, and at

951
00:48:54,080 --> 00:48:57,960
Speaker 1: budget Girl on TikTok g b G on the socials,

952
00:48:59,000 --> 00:49:02,600
Speaker 1: not tv G. Go Budget Girls. That's right, Thank you

953
00:49:02,640 --> 00:49:05,560
Speaker 1: so much. We really appreciate you joining us. Absolutely, it

954
00:49:05,600 --> 00:49:08,800
Speaker 1: was such a pleasure. Thank you for having me. All Right, Joel,

955
00:49:08,960 --> 00:49:11,600
Speaker 1: that was a great conversation we just had with Budget Girl.

956
00:49:11,800 --> 00:49:13,879
Speaker 1: Don't you put the V in there. It's not tv

957
00:49:13,960 --> 00:49:18,080
Speaker 1: G Rebrander, it's just Budget Girl. But yeah, definitely enjoy

958
00:49:18,160 --> 00:49:20,880
Speaker 1: this conversation. And I've got my big takeaway, but I

959
00:49:20,880 --> 00:49:22,960
Speaker 1: will allow you to go first. What was your big

960
00:49:22,960 --> 00:49:25,440
Speaker 1: takeaway from this episode? I got I got my big

961
00:49:25,440 --> 00:49:27,640
Speaker 1: takeaway within like the first five minutes or first two minutes.

962
00:49:27,960 --> 00:49:30,600
Speaker 1: She said something that sparked something. Okay, mine was early

963
00:49:30,640 --> 00:49:33,600
Speaker 1: on too, stepping on your toes. Alright. I loved it

964
00:49:33,600 --> 00:49:36,879
Speaker 1: when she talked about hobbies that cost you money versus

965
00:49:36,880 --> 00:49:40,160
Speaker 1: hobbies that make you money, and I think we that's

966
00:49:40,160 --> 00:49:42,640
Speaker 1: not mine somewhere, Okay, good goodness. I'm kind of a

967
00:49:42,640 --> 00:49:46,520
Speaker 1: fan of inexpensive hobbies anyway, but I don't usually partake

968
00:49:46,560 --> 00:49:48,359
Speaker 1: in hobbies that are making me money. I guess when

969
00:49:48,360 --> 00:49:51,560
Speaker 1: we started this podcast, it kind of was like, uh,

970
00:49:51,600 --> 00:49:53,560
Speaker 1: it was like this thing where Okay, well we'll give

971
00:49:53,560 --> 00:49:55,160
Speaker 1: it a shot. We'll have fun, it'll be a hobby.

972
00:49:55,239 --> 00:49:57,640
Speaker 1: We'll see if we enjoy it, and then we'll see if,

973
00:49:57,680 --> 00:50:00,080
Speaker 1: you know, we can turn it into something. But for

974
00:50:00,120 --> 00:50:03,840
Speaker 1: the most part, the hobbies I participate in collecting campers

975
00:50:03,880 --> 00:50:06,040
Speaker 1: or something like that, flipping things in order to make money.

976
00:50:06,640 --> 00:50:09,319
Speaker 1: You know, I don't really do that very much. But

977
00:50:09,360 --> 00:50:11,240
Speaker 1: there are some people who are going in the opposite direction,

978
00:50:11,520 --> 00:50:13,800
Speaker 1: and all of their hobbies cost them a lot of money.

979
00:50:13,880 --> 00:50:16,120
Speaker 1: And I think it's okay if you set aside the

980
00:50:16,120 --> 00:50:18,120
Speaker 1: funds to pay for those things. It's part of your budget.

981
00:50:18,160 --> 00:50:21,239
Speaker 1: And you're like, listen, I'm more than happy to pay

982
00:50:21,320 --> 00:50:24,080
Speaker 1: for my two rounds of golf a week, or you know,

983
00:50:24,160 --> 00:50:26,640
Speaker 1: flying lessons because I want I want to learn how

984
00:50:26,640 --> 00:50:28,719
Speaker 1: to fly plane. Like, those aren't cheap things to do,

985
00:50:29,120 --> 00:50:32,279
Speaker 1: but they can be super rewarding, right. But I love

986
00:50:32,440 --> 00:50:36,560
Speaker 1: especially considering where Sarah was early on with a small

987
00:50:36,600 --> 00:50:38,960
Speaker 1: income and trying to grow that income and get rid

988
00:50:38,960 --> 00:50:41,080
Speaker 1: of that massive pile of student loan debt that she

989
00:50:41,200 --> 00:50:44,080
Speaker 1: took to monetizing hobbies to finding these things that she

990
00:50:44,120 --> 00:50:47,239
Speaker 1: did enjoy that that would that could be lucrative. So

991
00:50:47,400 --> 00:50:50,680
Speaker 1: I don't know, it's it's not applicable advice for everybody,

992
00:50:50,680 --> 00:50:53,520
Speaker 1: but I think there's a lot more people can put

993
00:50:53,560 --> 00:50:55,920
Speaker 1: some of their extra time to work finding a hobby

994
00:50:56,000 --> 00:50:58,120
Speaker 1: that they enjoy, maybe something that they like to do

995
00:50:58,600 --> 00:51:01,120
Speaker 1: that is actually also going to pay them simultaneously. Yeah,

996
00:51:01,160 --> 00:51:05,200
Speaker 1: I like that, especially early on. I think your biggest

997
00:51:05,239 --> 00:51:07,600
Speaker 1: interest might be to figure out how I can get

998
00:51:07,600 --> 00:51:09,120
Speaker 1: more income in my life so that I have more

999
00:51:09,120 --> 00:51:12,759
Speaker 1: options to perhaps participate in other hobbies that maybe do

1000
00:51:12,800 --> 00:51:15,360
Speaker 1: cost a touch more money exactly. But finding ways to

1001
00:51:15,360 --> 00:51:16,759
Speaker 1: give you some of that wiggle room, some of that

1002
00:51:16,800 --> 00:51:20,719
Speaker 1: breathing room, is a good thing to do. My big

1003
00:51:20,760 --> 00:51:24,680
Speaker 1: takeaway from this conversation involved when she was talking, surprisingly

1004
00:51:24,800 --> 00:51:27,200
Speaker 1: she was talking about meal planning, and it wasn't because

1005
00:51:27,280 --> 00:51:29,560
Speaker 1: it was I guess it's applicable definitely to meal planning.

1006
00:51:29,600 --> 00:51:32,600
Speaker 1: So what she was talking about was that folks, they

1007
00:51:32,640 --> 00:51:34,640
Speaker 1: aren't meal planning. They go to the grocery store, they

1008
00:51:34,680 --> 00:51:36,600
Speaker 1: buy a bunch of groceries, they come home. But then

1009
00:51:36,640 --> 00:51:38,480
Speaker 1: she said the next day, then I'll just go out

1010
00:51:38,480 --> 00:51:41,680
Speaker 1: to lunch because I did not have a plan, and

1011
00:51:41,760 --> 00:51:44,080
Speaker 1: that is when the light bulb went off in my head.

1012
00:51:44,280 --> 00:51:47,200
Speaker 1: It's oftentimes when we are not thinking with the end

1013
00:51:47,200 --> 00:51:48,960
Speaker 1: in mind. Right, If you just go to the grocery

1014
00:51:48,960 --> 00:51:51,279
Speaker 1: store and you're buying the things that look good, or

1015
00:51:51,320 --> 00:51:53,200
Speaker 1: even maybe just some things that are on sale because

1016
00:51:53,239 --> 00:51:55,200
Speaker 1: you're trying to be responsible with your money, or literally

1017
00:51:55,200 --> 00:51:57,520
Speaker 1: just what's on a recipe card, not realizing that maybe

1018
00:51:57,560 --> 00:51:59,759
Speaker 1: you already have some of those ingredients. Sure, in that case,

1019
00:51:59,760 --> 00:52:02,480
Speaker 1: you're an out looking like you're you're two in the weeds.

1020
00:52:02,480 --> 00:52:04,239
Speaker 1: You're too far into the forest and you need to

1021
00:52:04,239 --> 00:52:06,280
Speaker 1: step out and look at like what do I actually

1022
00:52:06,280 --> 00:52:08,680
Speaker 1: have on hand? But if you're just buying random stuff

1023
00:52:08,719 --> 00:52:11,200
Speaker 1: here and there and you aren't meal planning, if you

1024
00:52:11,239 --> 00:52:12,640
Speaker 1: do not have a plan for what it is that

1025
00:52:12,680 --> 00:52:15,279
Speaker 1: you're planning to cook for that week, you are not

1026
00:52:15,320 --> 00:52:17,919
Speaker 1: going to make wise purchases. You're gonna end up wasting money.

1027
00:52:17,960 --> 00:52:19,440
Speaker 1: And I think the same thing can be true when

1028
00:52:19,480 --> 00:52:21,480
Speaker 1: it comes to how it is we invest our money, right,

1029
00:52:21,520 --> 00:52:23,480
Speaker 1: Because if you don't have a plan, if you don't

1030
00:52:23,520 --> 00:52:25,080
Speaker 1: have the end in mind and what it is that

1031
00:52:25,120 --> 00:52:27,440
Speaker 1: you're you're you're seeking after and not even like retirement,

1032
00:52:27,440 --> 00:52:30,200
Speaker 1: but even something like a smaller goal like saving up

1033
00:52:30,239 --> 00:52:32,759
Speaker 1: for a car. It can be easy to get distracted

1034
00:52:32,800 --> 00:52:35,440
Speaker 1: by the smaller things in life that are things that

1035
00:52:35,480 --> 00:52:37,919
Speaker 1: we like, They are things that might be a good deal,

1036
00:52:37,960 --> 00:52:40,360
Speaker 1: they are things that could bring you value. It's not

1037
00:52:40,400 --> 00:52:42,200
Speaker 1: like it's a complete waste of money, but it is

1038
00:52:42,239 --> 00:52:44,960
Speaker 1: really important to keep those big goals top of mind

1039
00:52:45,280 --> 00:52:47,719
Speaker 1: because those goals can influence how it is that we

1040
00:52:47,760 --> 00:52:49,640
Speaker 1: spend our money and how it is that we save

1041
00:52:49,680 --> 00:52:51,759
Speaker 1: our money. And so that was something that she said.

1042
00:52:51,800 --> 00:52:54,239
Speaker 1: She was specifically talking about meal planning and cooking, um,

1043
00:52:54,360 --> 00:52:56,719
Speaker 1: but I think that it is incredibly applicable to how

1044
00:52:56,719 --> 00:52:59,360
Speaker 1: it is that we approach our finances in general. Yeah, no,

1045
00:52:59,480 --> 00:53:02,759
Speaker 1: I completely agree. And you gotta have that end in mind,

1046
00:53:02,800 --> 00:53:05,720
Speaker 1: and you might be able to even afford to waste

1047
00:53:06,640 --> 00:53:08,560
Speaker 1: of your grocery budget, like she said, that's what the

1048
00:53:08,600 --> 00:53:11,120
Speaker 1: average American does by by throwing in the trash. Really,

1049
00:53:11,400 --> 00:53:13,640
Speaker 1: but that doesn't mean that it's the best use of

1050
00:53:13,640 --> 00:53:16,440
Speaker 1: your money. We'd rather see you be more intentional cutting

1051
00:53:16,440 --> 00:53:19,040
Speaker 1: that grocery build down to size so you can funnel

1052
00:53:19,040 --> 00:53:21,319
Speaker 1: that money into into things that matter more long term

1053
00:53:21,360 --> 00:53:23,680
Speaker 1: goals that are more important to you as opposed to

1054
00:53:23,760 --> 00:53:26,160
Speaker 1: kind of the short term easy choice, which is just

1055
00:53:26,200 --> 00:53:27,719
Speaker 1: to load up that cart with whatever is in front

1056
00:53:27,760 --> 00:53:30,520
Speaker 1: of you. But then the sad reality is your money.

1057
00:53:30,560 --> 00:53:32,279
Speaker 1: He gets flushed down the toilet at the same time.

1058
00:53:32,600 --> 00:53:34,319
Speaker 1: But Matt, let's get back to the beer that we

1059
00:53:34,360 --> 00:53:36,839
Speaker 1: had on this episode. This was from Wicked Weed. It's

1060
00:53:36,840 --> 00:53:40,120
Speaker 1: a stout. It's called Brownie Brownie. I think I had

1061
00:53:40,160 --> 00:53:42,320
Speaker 1: a dog name Brownie when I was a kid. I

1062
00:53:42,360 --> 00:53:44,080
Speaker 1: don't know, it's a long time ago. I can't really remember.

1063
00:53:44,120 --> 00:53:46,200
Speaker 1: I think I was like three, but maybe maybe it

1064
00:53:46,239 --> 00:53:47,600
Speaker 1: was chocolate, I don't know, something like that. But what

1065
00:53:47,640 --> 00:53:49,000
Speaker 1: were your thoughts on this beer? It was a good

1066
00:53:49,080 --> 00:53:51,920
Speaker 1: man this. Uh, this is an Imperial stout brood with

1067
00:53:52,040 --> 00:53:56,359
Speaker 1: chocolate and natural hemp like flavors, which is really a fun,

1068
00:53:56,480 --> 00:54:00,600
Speaker 1: interesting combo. Here's a brownie stout that's it's like weed.

1069
00:54:00,719 --> 00:54:03,160
Speaker 1: I've never nod on a hemp necklace, so I'm not

1070
00:54:03,320 --> 00:54:05,640
Speaker 1: not sure what it tastes like. Uh, but yeah, this

1071
00:54:05,680 --> 00:54:08,440
Speaker 1: is really interesting and and surprisingly it wasn't really like

1072
00:54:08,640 --> 00:54:11,360
Speaker 1: I guess I was expecting more like dank like flavors.

1073
00:54:11,840 --> 00:54:13,439
Speaker 1: But the flavors that I picked up on it were

1074
00:54:13,440 --> 00:54:16,879
Speaker 1: more like sage, like cooking spices where it almost had

1075
00:54:16,920 --> 00:54:22,080
Speaker 1: like this minerally it's just a reckon h man, I'm

1076
00:54:22,120 --> 00:54:26,479
Speaker 1: totally falling into their trap. But but yeah, no, this,

1077
00:54:26,480 --> 00:54:28,239
Speaker 1: this is this is really interesting as well because this

1078
00:54:28,280 --> 00:54:29,960
Speaker 1: is from Wicked Weed, and they don't often. They don't

1079
00:54:29,960 --> 00:54:32,600
Speaker 1: brew a whole lot of bigger, darker beers like this

1080
00:54:32,960 --> 00:54:35,879
Speaker 1: a lot more exactly, that's what they're known for. So

1081
00:54:36,000 --> 00:54:38,160
Speaker 1: it's it's really cool to come across another one of

1082
00:54:38,239 --> 00:54:41,600
Speaker 1: these guilty Pleasures beers. That's what's written here on the

1083
00:54:41,640 --> 00:54:43,719
Speaker 1: camp there's actually a series and it came in like

1084
00:54:43,760 --> 00:54:45,719
Speaker 1: a four pack, so I grabbed the four packs. Well,

1085
00:54:45,719 --> 00:54:48,400
Speaker 1: we're having more of these Wicked Weed stouts on the

1086
00:54:48,400 --> 00:54:50,320
Speaker 1: show in the future. But yeah, I'll say I was

1087
00:54:50,360 --> 00:54:52,960
Speaker 1: not impressed with this one. It was it was just okay,

1088
00:54:53,320 --> 00:54:57,040
Speaker 1: and yeah, I guess it was. It's just a solid beer,

1089
00:54:57,120 --> 00:54:59,200
Speaker 1: and I expect more from Wicked Weed and and maybe

1090
00:54:59,200 --> 00:55:01,360
Speaker 1: it's just because yeah, they don't really do the stout

1091
00:55:01,400 --> 00:55:03,920
Speaker 1: thing very often. But yeah, we'll see if the other

1092
00:55:03,920 --> 00:55:06,480
Speaker 1: ones pan out a little bit better than this one did. Right, Well,

1093
00:55:06,520 --> 00:55:09,399
Speaker 1: either way, we are always down to try any beer

1094
00:55:09,560 --> 00:55:11,600
Speaker 1: at least one time, and we will make sure to

1095
00:55:11,680 --> 00:55:14,440
Speaker 1: link to Sarah's channel, her YouTube channel, as well as

1096
00:55:14,480 --> 00:55:17,040
Speaker 1: her site and other resources we have may have mentioned

1097
00:55:17,160 --> 00:55:20,120
Speaker 1: during this episode up on our website at how to

1098
00:55:20,239 --> 00:55:22,600
Speaker 1: money dot com. No doubt, all right, Matt, that's gonna

1099
00:55:22,600 --> 00:55:24,839
Speaker 1: do it. Until next time, best friends out and best

1100
00:55:24,880 --> 00:55:25,719
Speaker 1: Friends Out