1 00:00:00,240 --> 00:00:03,320 Speaker 1: Welcome to How the Money. I'm Joel and I am Matt, 2 00:00:03,520 --> 00:00:26,960 Speaker 1: and today we're discussing using financial stress to your advantage. Yeah, 3 00:00:26,960 --> 00:00:30,200 Speaker 1: I mean financial stress, or honestly stress in general. I 4 00:00:30,240 --> 00:00:32,599 Speaker 1: think that that's something that most people are going to think, 5 00:00:32,640 --> 00:00:34,159 Speaker 1: just right off the bat, that is something that they 6 00:00:34,200 --> 00:00:36,519 Speaker 1: want to avoid. Right. It's it's almost like if you 7 00:00:36,560 --> 00:00:38,920 Speaker 1: get sick, it's like it is getting sick ever a 8 00:00:38,920 --> 00:00:40,800 Speaker 1: good thing. It's something that you pretty much want to 9 00:00:40,880 --> 00:00:43,960 Speaker 1: always make sure that doesn't happen to you. But during 10 00:00:44,000 --> 00:00:46,240 Speaker 1: this episode, man, we're gonna talk about stress in a way, 11 00:00:46,560 --> 00:00:48,720 Speaker 1: uh and specifically stress when it comes to our money. 12 00:00:49,000 --> 00:00:51,599 Speaker 1: And you know, obviously there's the obvious kind of downsize 13 00:00:51,640 --> 00:00:53,240 Speaker 1: to it, but we're gonna talk about the upsides, the 14 00:00:53,280 --> 00:00:56,120 Speaker 1: upshots to financial stress and how we can use it 15 00:00:56,400 --> 00:01:00,760 Speaker 1: to further us along down our path of personal using 16 00:01:00,800 --> 00:01:04,000 Speaker 1: something that's commonly perceived to be negative as an advantage. 17 00:01:04,040 --> 00:01:05,840 Speaker 1: I like that we're gonna talk about that today. But 18 00:01:06,040 --> 00:01:07,800 Speaker 1: before we get to that, man, I want to mention 19 00:01:08,240 --> 00:01:11,920 Speaker 1: that my wife just bought a smart watch. Oh your wife, 20 00:01:11,920 --> 00:01:14,080 Speaker 1: did you had like this cheapo watch on here in 21 00:01:14,120 --> 00:01:15,800 Speaker 1: the notes? And I thought maybe you got a new 22 00:01:15,800 --> 00:01:17,720 Speaker 1: one now, so I think I've we we've talked before, 23 00:01:17,760 --> 00:01:20,520 Speaker 1: how I am kind of against the smart watch, at 24 00:01:20,600 --> 00:01:22,720 Speaker 1: least for myself in my own life on my wrist. 25 00:01:22,959 --> 00:01:25,440 Speaker 1: I don't really want another screen to be checking, although 26 00:01:25,520 --> 00:01:27,600 Speaker 1: some people have actually said that having a smart watch 27 00:01:27,880 --> 00:01:29,960 Speaker 1: actually means you check your phone less often because you 28 00:01:30,000 --> 00:01:31,679 Speaker 1: can like quickly glance at your watch and then you're 29 00:01:31,680 --> 00:01:34,480 Speaker 1: done with it. But it's still a screen, Yeah, and 30 00:01:34,520 --> 00:01:37,959 Speaker 1: you're still being distracted from whatever you're doing. Yeah, I'm 31 00:01:38,000 --> 00:01:39,920 Speaker 1: with you. So I'm gonna avoid it for the time being. 32 00:01:40,120 --> 00:01:42,720 Speaker 1: But my wife, she said, well, she she she started 33 00:01:42,760 --> 00:01:45,080 Speaker 1: doing some research and she was just interested in potentially 34 00:01:45,080 --> 00:01:47,480 Speaker 1: getting a smart watch. You know, the name brand ones. 35 00:01:47,520 --> 00:01:50,960 Speaker 1: They're kind of expensive and right, yeah, something like that 36 00:01:51,440 --> 00:01:53,440 Speaker 1: Apple watch whatever. I think so, and you know, she's 37 00:01:53,440 --> 00:01:56,240 Speaker 1: gotten Android, so I don't even think those play nicely together. 38 00:01:56,280 --> 00:01:58,520 Speaker 1: Something that was even a possibility. She's got to get 39 00:01:58,520 --> 00:02:01,320 Speaker 1: that Samsung on her wrist. I think she would have. Yeah, 40 00:02:01,400 --> 00:02:02,880 Speaker 1: she'd have to get one of the andwer watches, like 41 00:02:02,880 --> 00:02:05,640 Speaker 1: Google makes one, Samsung makes one. But it turns out 42 00:02:05,680 --> 00:02:08,520 Speaker 1: that there are a lot of like non name brand 43 00:02:08,800 --> 00:02:11,720 Speaker 1: smart watches out there now. Too, and the technology has 44 00:02:11,720 --> 00:02:13,960 Speaker 1: gotten a whole lot better at the cheap end of 45 00:02:14,000 --> 00:02:17,160 Speaker 1: the spectro and so yeah, so she got a one 46 00:02:17,200 --> 00:02:19,400 Speaker 1: off Amazon. I'll link to the one that she purchased 47 00:02:19,400 --> 00:02:21,760 Speaker 1: in the show notes. But she's loving it because some 48 00:02:21,840 --> 00:02:24,440 Speaker 1: of the I think additional benefits of having one of 49 00:02:24,440 --> 00:02:26,640 Speaker 1: the really nice name brand ones she doesn't care about. 50 00:02:26,680 --> 00:02:30,560 Speaker 1: She really wants this to track steps, heart rate, monitor 51 00:02:30,600 --> 00:02:32,560 Speaker 1: her sleep and it has a lot of those those functions. 52 00:02:32,560 --> 00:02:35,480 Speaker 1: She can retext on it too. Um. And so yeah, 53 00:02:35,600 --> 00:02:38,040 Speaker 1: there's another watch. I forget what the name brand of 54 00:02:38,040 --> 00:02:39,560 Speaker 1: hers is. Again, I said, well, we'll link to in 55 00:02:39,560 --> 00:02:43,400 Speaker 1: the show notes. But Wise is another brand we've talked about. Wise. 56 00:02:43,400 --> 00:02:46,200 Speaker 1: They've got some cool stuff, like some cool cheap headphones, 57 00:02:46,520 --> 00:02:49,679 Speaker 1: so um, you know, they do home security incredibly cheap. 58 00:02:50,000 --> 00:02:51,880 Speaker 1: Instead of getting the Nest came or some of the 59 00:02:51,880 --> 00:02:55,440 Speaker 1: different camera setups in your home that typically costs like 60 00:02:55,440 --> 00:02:57,800 Speaker 1: like a hundred two hundred bucks for these cameras. Wise, Man, 61 00:02:57,840 --> 00:03:00,520 Speaker 1: those cameras are bucks. You actually and me onto them 62 00:03:00,600 --> 00:03:02,440 Speaker 1: last year. Yeah, so so those are great. By the way, 63 00:03:02,440 --> 00:03:05,280 Speaker 1: it's spelled w y z E and you Well, we'll 64 00:03:05,280 --> 00:03:06,880 Speaker 1: link to wis is in the show notes as well. 65 00:03:06,919 --> 00:03:09,040 Speaker 1: But yeah, the cool thing is that she didn't have 66 00:03:09,120 --> 00:03:11,440 Speaker 1: to spend very much and it's got the functionality she's 67 00:03:11,480 --> 00:03:14,040 Speaker 1: looking for. And I think sometimes we just assume that 68 00:03:14,120 --> 00:03:15,720 Speaker 1: we need the top of the line or the brand 69 00:03:15,760 --> 00:03:18,280 Speaker 1: new thing that cost three dollars in order to be happy, 70 00:03:18,480 --> 00:03:20,040 Speaker 1: in order to get the things we need. And Emily 71 00:03:20,080 --> 00:03:21,600 Speaker 1: was like, well, what am I looking for? Let me 72 00:03:21,639 --> 00:03:23,720 Speaker 1: read the reviews, let me, you know, sort through a 73 00:03:23,720 --> 00:03:27,000 Speaker 1: bunch of different watches and find one that is relatively 74 00:03:27,000 --> 00:03:30,560 Speaker 1: inexpensive that's gonna have the functionality that I actually need, 75 00:03:30,800 --> 00:03:33,079 Speaker 1: not all the stuff that I don't. Um. So, yeah, 76 00:03:33,200 --> 00:03:36,400 Speaker 1: we'll see how long at last, you know, smart watch 77 00:03:36,480 --> 00:03:38,200 Speaker 1: might last for a year, may not last very long, 78 00:03:38,240 --> 00:03:39,880 Speaker 1: maybe not even that long. We'll put it on the calendar. 79 00:03:39,960 --> 00:03:41,560 Speaker 1: Maybe a year from now, we'll check back in and 80 00:03:41,880 --> 00:03:44,080 Speaker 1: maybe Emily can come on give us her little smart 81 00:03:44,080 --> 00:03:46,280 Speaker 1: watch update. But but dude, I'm with you. So the 82 00:03:46,320 --> 00:03:48,520 Speaker 1: only thing that I feel like I've ever considered getting 83 00:03:48,560 --> 00:03:51,560 Speaker 1: a smart watch for is I've heard that you can like, 84 00:03:51,640 --> 00:03:54,040 Speaker 1: they buzz, like, they can vibrate, and I would love 85 00:03:54,040 --> 00:03:57,440 Speaker 1: a solution where I could have an alarm set specifically 86 00:03:57,440 --> 00:03:59,200 Speaker 1: in the morning so that when I wake up, it 87 00:03:59,200 --> 00:04:01,240 Speaker 1: doesn't wake up eat because in order for it to 88 00:04:01,240 --> 00:04:03,320 Speaker 1: be loud enough for me to hear, it's oftentimes, you know, 89 00:04:03,400 --> 00:04:05,800 Speaker 1: loud enough for her to hear as well, and she 90 00:04:05,880 --> 00:04:08,160 Speaker 1: kind of hates that. I try to get up super quietly. 91 00:04:08,600 --> 00:04:10,160 Speaker 1: But if I just had a little smart watch on 92 00:04:10,200 --> 00:04:11,960 Speaker 1: my wrist and it buzz and that, you know, that's 93 00:04:11,960 --> 00:04:13,320 Speaker 1: how I was able to wake up, I think that 94 00:04:13,360 --> 00:04:15,000 Speaker 1: could be. That could be pretty cool. Can I tell 95 00:04:15,000 --> 00:04:17,200 Speaker 1: you the number one feature of this watch that she 96 00:04:17,279 --> 00:04:20,840 Speaker 1: got though? What So she's constantly misplacing her phone and 97 00:04:21,320 --> 00:04:23,640 Speaker 1: she's always asking me to call her phone so she 98 00:04:23,680 --> 00:04:26,239 Speaker 1: can find it. This smart watch has like a locate 99 00:04:26,320 --> 00:04:28,800 Speaker 1: my phone feature. So dude, my life has already gotten 100 00:04:28,839 --> 00:04:32,000 Speaker 1: way better because she watch. Well, I mean even iPhones 101 00:04:32,040 --> 00:04:33,880 Speaker 1: are I feel like most phones have that feature. But 102 00:04:33,960 --> 00:04:35,080 Speaker 1: you just said, I mean, you have to sit down 103 00:04:35,160 --> 00:04:37,840 Speaker 1: at a computer log in that wet whereas I guess 104 00:04:37,839 --> 00:04:39,360 Speaker 1: with that watch is just already on her. She just 105 00:04:39,400 --> 00:04:41,920 Speaker 1: pushes a button exactly kind of like beeps off in 106 00:04:41,960 --> 00:04:45,120 Speaker 1: the distance. It's made us both much happier night. But yeah, 107 00:04:45,160 --> 00:04:47,040 Speaker 1: all right, Matt, let's mentioned the beer that we're having 108 00:04:47,240 --> 00:04:50,320 Speaker 1: on today's show. This one is from Bolero Snort Brewery. 109 00:04:50,480 --> 00:04:53,080 Speaker 1: It's called a mouhito. It's a logger with lime juice 110 00:04:53,080 --> 00:04:54,680 Speaker 1: and mint. We'll give our thoughts on this one at 111 00:04:54,680 --> 00:04:56,360 Speaker 1: the end of the episode. This was a brewer out 112 00:04:56,320 --> 00:04:57,600 Speaker 1: of New Jersey. I had never heard of before. It 113 00:04:57,600 --> 00:04:58,839 Speaker 1: just kind of picked it up on a whim. I 114 00:04:58,880 --> 00:05:02,680 Speaker 1: just noticed that it's a Mouhito, not Mohito. They've got 115 00:05:02,680 --> 00:05:05,160 Speaker 1: a little cow cattle theme going on, I guess with 116 00:05:05,160 --> 00:05:06,839 Speaker 1: their brewery. But yeah, man, looking forward to enjoying this 117 00:05:06,880 --> 00:05:09,200 Speaker 1: one and sharing our thoughts at the end of the episode. 118 00:05:09,760 --> 00:05:11,440 Speaker 1: For now, let's get onto the topic of hand. We 119 00:05:11,520 --> 00:05:14,919 Speaker 1: are talking about how you can use financial stress to 120 00:05:15,040 --> 00:05:18,000 Speaker 1: your advantage. And Matt, I know you've never done this. 121 00:05:18,040 --> 00:05:20,520 Speaker 1: Have you ever said anything really dumb? Yes? But I 122 00:05:20,560 --> 00:05:23,400 Speaker 1: am doing it less and less as good as I age. 123 00:05:23,440 --> 00:05:27,720 Speaker 1: I'm getting wiser. Well. I think like I've definitely said 124 00:05:27,760 --> 00:05:29,240 Speaker 1: a lot of dumb things. One because I just have 125 00:05:29,360 --> 00:05:32,039 Speaker 1: this propensity to talk, and I think when you talk more, 126 00:05:32,080 --> 00:05:33,800 Speaker 1: you say more dumb things. If I shot my mouth 127 00:05:33,800 --> 00:05:35,880 Speaker 1: a little more, I probably would say fewer, But then 128 00:05:36,520 --> 00:05:39,760 Speaker 1: I sometimes make it worse because I try to explain, 129 00:05:40,200 --> 00:05:42,200 Speaker 1: you know, where I was coming from, and then people 130 00:05:42,240 --> 00:05:45,240 Speaker 1: are like, that doesn't make it any better, and they're 131 00:05:45,240 --> 00:05:47,280 Speaker 1: just give me a little little confused. I think we've 132 00:05:47,320 --> 00:05:48,960 Speaker 1: all been there, right, we all had that kind of 133 00:05:49,000 --> 00:05:51,400 Speaker 1: like foot in the mouth moment, like, oh, man, if 134 00:05:51,400 --> 00:05:53,240 Speaker 1: I just shut up five minutes ago, I'd be in 135 00:05:53,240 --> 00:05:56,080 Speaker 1: a much better spot with this person, in this situation. Whatever. 136 00:05:56,120 --> 00:05:58,400 Speaker 1: Maybe maybe it was like to a teacher after you 137 00:05:58,480 --> 00:06:00,480 Speaker 1: got a bad grade on a test and you somehow 138 00:06:00,680 --> 00:06:02,880 Speaker 1: talk to yourself into a d from us, you know, 139 00:06:02,920 --> 00:06:05,240 Speaker 1: like because that's how bad it went. Um. But yeah, 140 00:06:05,480 --> 00:06:07,640 Speaker 1: I think if we had just stopped at the first 141 00:06:07,640 --> 00:06:10,760 Speaker 1: idiotic thing, it would have turned out better for us 142 00:06:10,839 --> 00:06:14,480 Speaker 1: and humans, Matt, We're anxious creatures and money is one 143 00:06:14,480 --> 00:06:16,640 Speaker 1: of the most stressful topics we face. That's why we 144 00:06:16,680 --> 00:06:20,040 Speaker 1: wanted to talk about this today. It's not always a 145 00:06:20,120 --> 00:06:24,159 Speaker 1: poor money decision that leads to uh significantly higher stress levels. 146 00:06:24,240 --> 00:06:27,240 Speaker 1: Often it's the reaction that we have when we mess 147 00:06:27,320 --> 00:06:30,880 Speaker 1: up that creates these compounding effects that creates more stress 148 00:06:30,920 --> 00:06:32,960 Speaker 1: in our lives. And so, yeah, we want to talk about, 149 00:06:33,000 --> 00:06:36,359 Speaker 1: like how do we eliminate stress or mitigate stress in 150 00:06:36,360 --> 00:06:38,680 Speaker 1: our lives? And then also maybe in some ways use 151 00:06:38,839 --> 00:06:41,880 Speaker 1: that stress to our advantage in the future. Yeah, and 152 00:06:41,880 --> 00:06:43,440 Speaker 1: and of course, you know, it's important to note that 153 00:06:43,440 --> 00:06:46,280 Speaker 1: stress does have some positive benefit in our lives. You know, 154 00:06:46,360 --> 00:06:49,600 Speaker 1: it doesn't exist for no reason. But it's crucial for 155 00:06:49,680 --> 00:06:52,240 Speaker 1: us to make some changes though, so that you know, 156 00:06:52,279 --> 00:06:54,760 Speaker 1: our anxiety over money, that it doesn't cause us to 157 00:06:54,800 --> 00:06:57,440 Speaker 1: curl up into a ball unable to take any positive 158 00:06:57,440 --> 00:06:59,400 Speaker 1: steps that can help us to move in the right direction. 159 00:06:59,640 --> 00:07:01,360 Speaker 1: This is idle in order to you know, keep it 160 00:07:01,400 --> 00:07:04,400 Speaker 1: from becoming a full blown personal crisis. And of course, 161 00:07:04,440 --> 00:07:06,240 Speaker 1: you know, in the last fifteen months they have been 162 00:07:06,320 --> 00:07:10,240 Speaker 1: especially stressful. But even before the pandemic, we saw that 163 00:07:10,320 --> 00:07:13,040 Speaker 1: Northwestern Mutual they actually did a study back in sixteen 164 00:07:13,400 --> 00:07:16,360 Speaker 1: and they found that a five percent of Americans feel 165 00:07:16,400 --> 00:07:20,040 Speaker 1: anxious about their finances. And the American Institute of Stress, 166 00:07:20,320 --> 00:07:22,920 Speaker 1: which is I gotta imagine that's an interesting place to work. 167 00:07:23,560 --> 00:07:25,560 Speaker 1: It's either the chilliest or the most stressful place to work. 168 00:07:25,560 --> 00:07:27,600 Speaker 1: I'm not sure it's on how they tackler the stress, 169 00:07:28,160 --> 00:07:30,160 Speaker 1: but they say that the number two cause of stress 170 00:07:30,160 --> 00:07:33,320 Speaker 1: in America is you guessed it, money At it's it 171 00:07:33,360 --> 00:07:36,400 Speaker 1: was actually just one percent point behind something, uh, you know, 172 00:07:36,440 --> 00:07:40,000 Speaker 1: really minor. The future of our nation work comes in 173 00:07:40,320 --> 00:07:42,600 Speaker 1: at number three after that. But it's worth pointing out 174 00:07:42,680 --> 00:07:45,400 Speaker 1: that a lot of folks are dealing with some amount 175 00:07:45,400 --> 00:07:47,200 Speaker 1: of financial stress. We want you to know that you're 176 00:07:47,240 --> 00:07:50,840 Speaker 1: not alone. Yeah, obviously it plagues a huge amount of people, 177 00:07:51,200 --> 00:07:53,480 Speaker 1: and Matt, I think we already know this. So we're 178 00:07:53,480 --> 00:07:55,960 Speaker 1: gonna talking about some of the positive benefits of financial 179 00:07:55,960 --> 00:07:58,200 Speaker 1: stress in your life. I know, actually there are there 180 00:07:58,240 --> 00:08:00,960 Speaker 1: are some. It sounds counterintuitive, but also talk about how 181 00:08:01,000 --> 00:08:03,840 Speaker 1: stress can be bad, right, and people probably already know 182 00:08:03,920 --> 00:08:05,960 Speaker 1: some of this stuff, but there's but this, this here 183 00:08:06,000 --> 00:08:08,520 Speaker 1: is a little reminder, right that overwhelming amounts of stress 184 00:08:08,800 --> 00:08:11,720 Speaker 1: can have a massive negative impact on our health and 185 00:08:11,760 --> 00:08:14,600 Speaker 1: on our relationships. That stress can lead to things like 186 00:08:14,680 --> 00:08:19,760 Speaker 1: cardiovascular disease, ulcers, and worse and unmanageable. Stress takes a 187 00:08:19,800 --> 00:08:22,160 Speaker 1: toll on the physical body as well. Not I even 188 00:08:22,200 --> 00:08:26,000 Speaker 1: saw a recent study that found that overworked individuals are 189 00:08:26,040 --> 00:08:28,440 Speaker 1: more stressed and it leads to a lot of premature 190 00:08:28,480 --> 00:08:31,240 Speaker 1: deaths in our country. So, yeah, the negative realities of 191 00:08:31,280 --> 00:08:33,960 Speaker 1: stress are real. It takes a toll on us, but 192 00:08:34,000 --> 00:08:36,920 Speaker 1: it also takes a toll on our relationships. When we're 193 00:08:37,000 --> 00:08:40,160 Speaker 1: overly stressed about anything we're we're more likely to take 194 00:08:40,160 --> 00:08:41,839 Speaker 1: it out on the people that we love the most, 195 00:08:42,240 --> 00:08:44,760 Speaker 1: and that leads to like messed up relationships and in 196 00:08:44,800 --> 00:08:48,120 Speaker 1: many cases, consistent money stress can rek havoc on a marriage. 197 00:08:48,480 --> 00:08:51,360 Speaker 1: Money fights are the second leading cause of divorce, and 198 00:08:51,440 --> 00:08:54,520 Speaker 1: almost half of couples that have fifty dollars or more 199 00:08:54,640 --> 00:08:57,360 Speaker 1: in consumer debt say that money is the leading cause 200 00:08:57,400 --> 00:09:00,440 Speaker 1: of arguments in their homes. That's a big deal. Stress 201 00:09:00,520 --> 00:09:02,920 Speaker 1: is obviously causing a lot of strife for a lot 202 00:09:02,960 --> 00:09:05,720 Speaker 1: of people. Yeah, that's right, And you know, the reactions 203 00:09:05,720 --> 00:09:08,000 Speaker 1: that we have to the stressors in our lives can 204 00:09:08,160 --> 00:09:11,959 Speaker 1: just make things worse. According to the American Psychological Association, 205 00:09:12,320 --> 00:09:16,000 Speaker 1: the top stress relieving activities are watching TV for over 206 00:09:16,080 --> 00:09:20,480 Speaker 1: two hours, uh, serving the Internet, napping, eating, drinking, and smoking. 207 00:09:20,920 --> 00:09:23,040 Speaker 1: Uh So, you know, basically, it's just a laundry list 208 00:09:23,040 --> 00:09:25,840 Speaker 1: of things that might be okay and and you know, 209 00:09:25,840 --> 00:09:30,160 Speaker 1: in extreme moderation, maybe maybe not the smoking because that's 210 00:09:30,240 --> 00:09:32,440 Speaker 1: never actually a good thing, But the rest of them 211 00:09:32,480 --> 00:09:35,200 Speaker 1: are okay in moderation. But we're over indulging in all 212 00:09:35,240 --> 00:09:39,000 Speaker 1: of them because Americans are just so stressed out, and 213 00:09:39,040 --> 00:09:41,280 Speaker 1: so money troubles are a big part of what gets 214 00:09:41,320 --> 00:09:43,800 Speaker 1: us to that point where we feel like we need 215 00:09:43,960 --> 00:09:46,959 Speaker 1: these different coping mechanisms. Yeah, it's like, um, so stressed out, 216 00:09:47,120 --> 00:09:49,760 Speaker 1: the only thing I can think of doing is popping 217 00:09:49,760 --> 00:09:51,560 Speaker 1: in the couch and watching two and a half hours 218 00:09:51,559 --> 00:09:54,400 Speaker 1: of Netflix, right, which is essentially ignoring the stress, right, 219 00:09:54,400 --> 00:09:56,400 Speaker 1: Like you're you're basically running from it. You're you're not 220 00:09:56,440 --> 00:09:58,679 Speaker 1: facing the problems and instead you're just pretending that it 221 00:09:58,720 --> 00:10:02,160 Speaker 1: doesn't exist, which, um only makes the problem worse in 222 00:10:02,200 --> 00:10:05,679 Speaker 1: almost every case. And we've talked about this as well before. 223 00:10:05,720 --> 00:10:08,440 Speaker 1: But sometimes we spend too much money because we're stressed out, 224 00:10:08,760 --> 00:10:11,600 Speaker 1: and spending spreeze, you know, or retail therapy is what 225 00:10:11,640 --> 00:10:14,479 Speaker 1: it's sometimes called, can be an attempt to basically wallpaper 226 00:10:14,520 --> 00:10:17,560 Speaker 1: over the emotions that we're feeling. But that also makes 227 00:10:17,559 --> 00:10:21,040 Speaker 1: things worse. Right. Some folks actually at Duke University, they 228 00:10:21,080 --> 00:10:22,800 Speaker 1: found what they do, they do a lot of great 229 00:10:22,800 --> 00:10:25,560 Speaker 1: like behavioral money work there. They found that instead of 230 00:10:25,720 --> 00:10:29,920 Speaker 1: stress spending, people should instead try stress saving. And that 231 00:10:30,000 --> 00:10:31,880 Speaker 1: feels that, Yeah, I can get behind that too, but 232 00:10:31,880 --> 00:10:33,400 Speaker 1: I'm sure a lot of a lot of people listening 233 00:10:33,440 --> 00:10:35,840 Speaker 1: are like that, yeah, that what does that do for? 234 00:10:37,080 --> 00:10:39,760 Speaker 1: Yeah it sounds great, but that doesn't actually relieve stress. 235 00:10:39,800 --> 00:10:42,640 Speaker 1: And you know, I can understand why you might respond 236 00:10:42,640 --> 00:10:44,679 Speaker 1: that way. But but but the interesting thing is what they 237 00:10:44,679 --> 00:10:47,439 Speaker 1: got to the root of is that spending it actually 238 00:10:47,520 --> 00:10:49,640 Speaker 1: puts you in a worse hole. Right, But the behavioral 239 00:10:49,720 --> 00:10:51,920 Speaker 1: final folks are Dukes said that the main benefit we 240 00:10:51,960 --> 00:10:54,319 Speaker 1: get from the act of spending is the act of 241 00:10:54,360 --> 00:10:57,360 Speaker 1: actually making a decision, picking something out, buying it. Boom, 242 00:10:57,400 --> 00:10:59,920 Speaker 1: it's on our the way to our house. Basically like 243 00:11:00,000 --> 00:11:02,280 Speaker 1: the autonomy you have over your life. Yeah. Yeah, that's 244 00:11:02,320 --> 00:11:05,160 Speaker 1: the part of spending that feels good. It's not necessarily 245 00:11:05,200 --> 00:11:08,400 Speaker 1: even getting the item right. And so their solution was 246 00:11:08,440 --> 00:11:11,360 Speaker 1: to say that instead of purchasing that item, transfer that 247 00:11:11,400 --> 00:11:13,880 Speaker 1: exact amount of money to your savings. It gives you 248 00:11:13,920 --> 00:11:16,600 Speaker 1: the same satisfaction but benefits you obviously in a more 249 00:11:16,640 --> 00:11:19,560 Speaker 1: positive way, and your money going to Amazon or some 250 00:11:19,600 --> 00:11:22,319 Speaker 1: other you know, online retailer. That money is going into 251 00:11:22,360 --> 00:11:25,600 Speaker 1: your savings account, but you're actually physically doing something, You're 252 00:11:25,600 --> 00:11:29,040 Speaker 1: taking an action. And so yeah, if if Duke and 253 00:11:29,320 --> 00:11:32,320 Speaker 1: how the money can combine efforts and make stress saving 254 00:11:32,400 --> 00:11:34,199 Speaker 1: a thing. I think that'd be awesome. Yeah, so that's 255 00:11:34,200 --> 00:11:36,240 Speaker 1: a nice little action step. A little takeaway early in 256 00:11:36,240 --> 00:11:39,920 Speaker 1: the episode, which doesn't always happen, how the money. But 257 00:11:40,240 --> 00:11:42,520 Speaker 1: you know, all of these things are all the traditionally 258 00:11:42,600 --> 00:11:45,959 Speaker 1: negative views towards stress, right, Like, we we don't want 259 00:11:45,960 --> 00:11:47,920 Speaker 1: you to be overwhelmed and stressed out, and definitely not 260 00:11:47,960 --> 00:11:50,680 Speaker 1: because of money issues. But we think that there's actually 261 00:11:50,720 --> 00:11:53,480 Speaker 1: a much better way to view the stress in our lives. 262 00:11:53,720 --> 00:11:55,680 Speaker 1: You know, we think that you can actually put stress 263 00:11:55,760 --> 00:11:58,840 Speaker 1: in a positive light. Uh, maybe it's less about conquering 264 00:11:58,880 --> 00:12:01,120 Speaker 1: and combating stress, right, it's not something that we're just 265 00:12:01,160 --> 00:12:04,120 Speaker 1: trying to overcome. What if you're able to discover how 266 00:12:04,120 --> 00:12:06,839 Speaker 1: stress will allow you to get ahead with your money 267 00:12:07,040 --> 00:12:09,480 Speaker 1: and so we'll talk more about that right after this break. 268 00:12:19,000 --> 00:12:20,880 Speaker 1: All right, now, let's get to kind of some of 269 00:12:20,880 --> 00:12:23,080 Speaker 1: the heart of what we wanted to cover on this episode. 270 00:12:23,160 --> 00:12:25,320 Speaker 1: Le taking into the meat. Yeah, let's talk about stress 271 00:12:25,360 --> 00:12:27,960 Speaker 1: and how it can actually be good and benefit you potentially. 272 00:12:28,360 --> 00:12:30,600 Speaker 1: Um So, yeah, before we talked about how you respond 273 00:12:30,600 --> 00:12:32,720 Speaker 1: when financial stress hits. We're gonna kind of get some 274 00:12:32,760 --> 00:12:35,280 Speaker 1: practical steps on that later. It's important to point out 275 00:12:35,559 --> 00:12:40,040 Speaker 1: that stress isn't an inherently terrible thing. Like when we're stressed, 276 00:12:40,400 --> 00:12:44,640 Speaker 1: the purpose of the physiological response of our body is 277 00:12:44,640 --> 00:12:48,280 Speaker 1: to overcome whatever obstacles might be in our way. Ourselves 278 00:12:48,360 --> 00:12:51,520 Speaker 1: are releasing dopamine and adrenaline so that we actually have 279 00:12:51,559 --> 00:12:53,800 Speaker 1: a boost of energy and alertness. And this is like 280 00:12:53,840 --> 00:12:55,760 Speaker 1: the fight or flight response we all learned about an 281 00:12:55,760 --> 00:12:58,720 Speaker 1: elementary school, right, And it's like when when someone challenges 282 00:12:58,760 --> 00:13:01,000 Speaker 1: you to a fight, either like you get so pumped 283 00:13:01,040 --> 00:13:02,480 Speaker 1: up you punch them in the nose, or you run away. 284 00:13:03,200 --> 00:13:06,240 Speaker 1: I usually ran away. You gets bumps and said, all 285 00:13:06,280 --> 00:13:08,199 Speaker 1: the hair on your arm stands on end. Yep, it 286 00:13:08,200 --> 00:13:12,800 Speaker 1: makes you look bigger. I still ran away. That's always 287 00:13:12,800 --> 00:13:14,840 Speaker 1: how I handled I fight's growing up and still to 288 00:13:14,880 --> 00:13:17,480 Speaker 1: this day. But they happened, Um, they never really happened 289 00:13:17,520 --> 00:13:19,800 Speaker 1: growing up either, Let's be honest. But yeah, this is 290 00:13:19,840 --> 00:13:22,640 Speaker 1: like how our bodies naturally respond to conflict, and really 291 00:13:22,640 --> 00:13:24,160 Speaker 1: what we want to talk about in this episodes. How 292 00:13:24,200 --> 00:13:28,880 Speaker 1: do we use that response, that physiological response when it 293 00:13:28,920 --> 00:13:31,240 Speaker 1: comes to how stress impacts our lives. How do we 294 00:13:31,440 --> 00:13:33,800 Speaker 1: use that not to our detriment, not to curl up 295 00:13:33,840 --> 00:13:36,720 Speaker 1: in a ball, but actually to use it to our advantage. Yes, 296 00:13:36,800 --> 00:13:39,560 Speaker 1: and so maybe it's not overcoming financial stress, but maybe 297 00:13:39,559 --> 00:13:43,040 Speaker 1: it's more utilizing stress to overcome financial obstacles. Right. It's 298 00:13:43,040 --> 00:13:45,840 Speaker 1: sort of like Judo, you know, like the martial arts, right. 299 00:13:46,000 --> 00:13:48,400 Speaker 1: I heard about it. Never did it karate though, for 300 00:13:48,520 --> 00:13:51,120 Speaker 1: like I don't know, maybe three months and it still 301 00:13:51,120 --> 00:13:52,679 Speaker 1: didn't serve you. Well, I guess in those little on 302 00:13:52,760 --> 00:13:55,439 Speaker 1: this playground scuffles, didn't know I broke one board though, 303 00:13:55,960 --> 00:13:58,560 Speaker 1: that's my claim to fame. I still wanted to do 304 00:13:58,559 --> 00:14:00,000 Speaker 1: that as a kid, you know, like you'd see kids 305 00:14:00,040 --> 00:14:02,160 Speaker 1: on TV swear they get special boards for weak kids, 306 00:14:02,200 --> 00:14:06,360 Speaker 1: like they do. But okay, so it's like Judo, right, 307 00:14:06,640 --> 00:14:08,880 Speaker 1: and so if we can use the momentum and weight 308 00:14:09,000 --> 00:14:12,840 Speaker 1: of stress that we encounter against the negative and the 309 00:14:12,920 --> 00:14:15,800 Speaker 1: more unhealthy behaviors that were that were tempted to adopt, 310 00:14:16,160 --> 00:14:18,360 Speaker 1: then we will be able to see incredible growth in 311 00:14:18,360 --> 00:14:20,520 Speaker 1: our lives. Uh. And so kind of like extending that 312 00:14:20,560 --> 00:14:22,640 Speaker 1: metaphor as we think of our bodies. You know what 313 00:14:22,680 --> 00:14:25,920 Speaker 1: happens when you lift weights or you work out that resistance, 314 00:14:26,200 --> 00:14:28,400 Speaker 1: say of a kettle bell like that right there? That 315 00:14:28,480 --> 00:14:31,440 Speaker 1: is stress, but the same stress is actually what causes 316 00:14:31,480 --> 00:14:33,880 Speaker 1: our muscles to grow, and so we wanted to mention 317 00:14:33,920 --> 00:14:36,360 Speaker 1: this because the proper amount of stress in our lives 318 00:14:36,640 --> 00:14:39,000 Speaker 1: makes us stronger in the same thing is also true 319 00:14:39,040 --> 00:14:41,720 Speaker 1: of our finances. Yeah, man, especially like when when we 320 00:14:41,760 --> 00:14:43,880 Speaker 1: think back to the periods in our life when we 321 00:14:43,880 --> 00:14:46,960 Speaker 1: were performing at the highest levels, like we can probably 322 00:14:47,000 --> 00:14:50,040 Speaker 1: bet that there was some amount of stress in our lives. Um, 323 00:14:50,080 --> 00:14:52,000 Speaker 1: And I think I think back to school, right, I 324 00:14:52,000 --> 00:14:55,920 Speaker 1: remember doing a couple of overnighters, and like I didn't 325 00:14:55,960 --> 00:14:58,280 Speaker 1: realize how many books I could read and maybe how 326 00:14:58,360 --> 00:15:00,880 Speaker 1: much and how much information I can remember eyes until 327 00:15:01,320 --> 00:15:03,880 Speaker 1: getting that great and graduating, maybe what was dependent on it. 328 00:15:04,000 --> 00:15:06,240 Speaker 1: Like I almost needed that challenge like that, I'm a 329 00:15:06,320 --> 00:15:09,040 Speaker 1: I'm a procrastinator to the core, and so I needed 330 00:15:09,040 --> 00:15:10,760 Speaker 1: to be kind of like pushed up against the wall 331 00:15:10,920 --> 00:15:13,200 Speaker 1: in order to like you know, give my stress levels 332 00:15:13,240 --> 00:15:15,360 Speaker 1: raised so that I could react accordingly. Yeah, I felt 333 00:15:15,360 --> 00:15:16,840 Speaker 1: that way when it came to a scholarship. I mean 334 00:15:16,840 --> 00:15:19,080 Speaker 1: I was getting ready to lose a big scholarship, and man, 335 00:15:19,280 --> 00:15:21,640 Speaker 1: talk about me buckling down and actually getting the grades 336 00:15:21,680 --> 00:15:23,800 Speaker 1: I needed to when money was on the line. Yeah, 337 00:15:23,880 --> 00:15:28,080 Speaker 1: I studied. Yeah, and like I think to other people, 338 00:15:28,120 --> 00:15:30,840 Speaker 1: maybe they never knew just how creative they could be 339 00:15:30,960 --> 00:15:33,440 Speaker 1: until a project at work, let's say, for instance, required 340 00:15:33,680 --> 00:15:36,560 Speaker 1: a completely different way of viewing the problem. And then 341 00:15:36,600 --> 00:15:38,800 Speaker 1: when it comes to our finances, a lot of people 342 00:15:39,160 --> 00:15:41,800 Speaker 1: probably never realized how little money they could live on 343 00:15:41,880 --> 00:15:44,040 Speaker 1: until they lost a job they were out of work, 344 00:15:44,520 --> 00:15:46,640 Speaker 1: or maybe they never realized how much they could earn 345 00:15:46,920 --> 00:15:48,680 Speaker 1: until they had set a goal to save up a 346 00:15:49,480 --> 00:15:51,240 Speaker 1: down payment on a house and they're like, I really 347 00:15:51,240 --> 00:15:52,720 Speaker 1: want to do that in the next two years. I've 348 00:15:52,720 --> 00:15:54,560 Speaker 1: got to earn more money to get there, all right, 349 00:15:54,600 --> 00:15:56,520 Speaker 1: How am I gonna make this happen? Um? And So 350 00:15:56,560 --> 00:15:59,760 Speaker 1: I think sometimes you have those stressful situations, they create 351 00:15:59,840 --> 00:16:02,960 Speaker 1: the ability in us that otherwise, if we're just kind 352 00:16:02,960 --> 00:16:05,920 Speaker 1: of hanging out at a more relaxed pace, we're not 353 00:16:06,120 --> 00:16:08,920 Speaker 1: forced to get creative. We're not forced to work harder, 354 00:16:08,960 --> 00:16:11,120 Speaker 1: you know, we're not forced to think about things differently. 355 00:16:11,400 --> 00:16:13,400 Speaker 1: And it's not that stress is always good, but that 356 00:16:13,480 --> 00:16:16,320 Speaker 1: kind of stress can be a huge motivator. Yeah, I mean, 357 00:16:16,640 --> 00:16:18,120 Speaker 1: I think it's a good thing because it shows us 358 00:16:18,160 --> 00:16:19,880 Speaker 1: that we care, right, It's something that we're connected to 359 00:16:19,960 --> 00:16:23,160 Speaker 1: because if we didn't feel stressed towards something that, you 360 00:16:23,160 --> 00:16:25,520 Speaker 1: know that was kind of pushing up in our lives. Well, 361 00:16:25,640 --> 00:16:27,720 Speaker 1: that just means we're kind of apathetic to whatever that 362 00:16:27,760 --> 00:16:29,600 Speaker 1: thing is. And so I think I see it as 363 00:16:29,680 --> 00:16:32,000 Speaker 1: a healthy amount of concern, right, Like that's kind of 364 00:16:32,000 --> 00:16:34,080 Speaker 1: how we're trying to view stress here. We're trying to 365 00:16:34,160 --> 00:16:36,160 Speaker 1: view it through that lens. But of course, you know, 366 00:16:36,200 --> 00:16:38,520 Speaker 1: it's important to point out that, like we're making an 367 00:16:38,600 --> 00:16:41,240 Speaker 1: argument here that a proper amount of stress in our lives, 368 00:16:41,560 --> 00:16:44,360 Speaker 1: in healthy doses like that is beneficial. You know, Like 369 00:16:44,400 --> 00:16:45,600 Speaker 1: it kind of makes me think of just kind of 370 00:16:45,600 --> 00:16:48,040 Speaker 1: like filling up your cup at the sink, getting some water, 371 00:16:48,120 --> 00:16:49,720 Speaker 1: just a little bit of you know, some of that water, 372 00:16:49,760 --> 00:16:51,200 Speaker 1: a little bit of stress in our lives. It can 373 00:16:51,240 --> 00:16:53,200 Speaker 1: I think it can go a long way. Uh. That's 374 00:16:53,200 --> 00:16:54,880 Speaker 1: a lot different than trying to like drink from a 375 00:16:54,880 --> 00:16:58,920 Speaker 1: fire hydrant. Right. It's hard to grow and to make 376 00:16:58,920 --> 00:17:01,720 Speaker 1: progress with our money when we're constantly facing just an 377 00:17:01,720 --> 00:17:05,720 Speaker 1: overwhelming barrage of financial stressors in our life. But please 378 00:17:05,720 --> 00:17:07,280 Speaker 1: please tell me you've never tried to drink from a 379 00:17:07,320 --> 00:17:09,320 Speaker 1: fire now, but you've heard people talking about, Yeah, I 380 00:17:09,359 --> 00:17:13,160 Speaker 1: just wonder if someone's actually trying just too much um 381 00:17:13,640 --> 00:17:15,840 Speaker 1: like it's so for instance, like we don't want someone 382 00:17:15,880 --> 00:17:18,520 Speaker 1: in a vicious cycle of only paying the minimums on 383 00:17:18,560 --> 00:17:21,520 Speaker 1: their credit cards because you've got too many financial obligations 384 00:17:21,520 --> 00:17:23,800 Speaker 1: like this would be an instance of bad stress that 385 00:17:23,880 --> 00:17:27,080 Speaker 1: leads to poor decisions and outcomes. Earlier, Joe, before the break, 386 00:17:27,080 --> 00:17:30,159 Speaker 1: you talked about couples who when faced with constant stress 387 00:17:30,160 --> 00:17:32,159 Speaker 1: in their lives, how that can lead to the relationship 388 00:17:32,560 --> 00:17:35,000 Speaker 1: uh suffering. We think that with the right amount of 389 00:17:35,040 --> 00:17:37,119 Speaker 1: stress that you would be amazed at the amount of 390 00:17:37,119 --> 00:17:39,000 Speaker 1: work that you'd be able to get done, like specifically 391 00:17:39,040 --> 00:17:41,159 Speaker 1: with like with a couple right where you know you 392 00:17:41,280 --> 00:17:43,240 Speaker 1: got your partner when you feel a little bit of 393 00:17:43,240 --> 00:17:45,439 Speaker 1: stress and you both are on board, and it forces 394 00:17:45,480 --> 00:17:47,679 Speaker 1: you to talk about say your your money that I 395 00:17:47,680 --> 00:17:49,920 Speaker 1: don't think you can help but to be more efficient, 396 00:17:49,960 --> 00:17:52,399 Speaker 1: to spend wisely with your dollars, or to you know, 397 00:17:52,440 --> 00:17:54,520 Speaker 1: to start earning more money. But if the stress is 398 00:17:54,560 --> 00:17:57,479 Speaker 1: too much and it's constant, that's when it can be 399 00:17:57,520 --> 00:17:59,120 Speaker 1: negative in our lives. And that's when when I think 400 00:17:59,119 --> 00:18:01,040 Speaker 1: it can often lead us to take some of those 401 00:18:01,080 --> 00:18:03,920 Speaker 1: unhealthy behaviors and where we resort to some of those 402 00:18:04,000 --> 00:18:07,000 Speaker 1: vices as we're trying to escape that stress. Yeah, letting 403 00:18:07,000 --> 00:18:09,439 Speaker 1: that stress overwhelm you is the worst place you can 404 00:18:09,480 --> 00:18:11,919 Speaker 1: find yourself, really and and so so, Matt, I think 405 00:18:11,960 --> 00:18:14,200 Speaker 1: you know, we've we've kind of tried to reframe how 406 00:18:14,240 --> 00:18:16,399 Speaker 1: we view financial stress in our lives, at least to 407 00:18:16,400 --> 00:18:18,520 Speaker 1: a certain degree, that it's not all negative. Some of 408 00:18:18,560 --> 00:18:20,440 Speaker 1: it can be good. It can actually cause us to 409 00:18:20,600 --> 00:18:23,800 Speaker 1: rise to new heights. And it's important to recognize how 410 00:18:23,880 --> 00:18:26,920 Speaker 1: that stress is going to allow us to achieve financial 411 00:18:26,960 --> 00:18:29,920 Speaker 1: goals that we've set for ourselves. Right, And it's really 412 00:18:29,920 --> 00:18:33,320 Speaker 1: helpful to focus on the positive goals instead of only 413 00:18:33,359 --> 00:18:36,040 Speaker 1: focusing on the negative, stressful steps that might take to 414 00:18:36,080 --> 00:18:38,600 Speaker 1: get there. Right. For for example, it might be difficult 415 00:18:38,600 --> 00:18:41,360 Speaker 1: to constantly be saying to yourself, don't spend too much 416 00:18:41,359 --> 00:18:43,879 Speaker 1: money on the credit cards this month, um, when instead 417 00:18:43,920 --> 00:18:47,320 Speaker 1: maybe we should be focusing on why we're wanting to 418 00:18:47,320 --> 00:18:49,960 Speaker 1: slim down the budget in the first place. Maybe it's 419 00:18:50,000 --> 00:18:53,600 Speaker 1: two for the first time, have a decent working emergency fund, 420 00:18:53,840 --> 00:18:56,680 Speaker 1: that financial margin, that breathing room that's so important, right, 421 00:18:57,160 --> 00:19:00,160 Speaker 1: Or it's this goal to finally be able to take 422 00:19:00,160 --> 00:19:02,080 Speaker 1: a vacation. Maybe it's been a few years. Um, it's 423 00:19:02,080 --> 00:19:04,240 Speaker 1: probably been at least a year for for all of us. 424 00:19:04,480 --> 00:19:07,040 Speaker 1: But yeah, like that, that's a great goal for a 425 00:19:07,040 --> 00:19:09,040 Speaker 1: lot of people who who may be saying, I need 426 00:19:09,040 --> 00:19:11,200 Speaker 1: to save up two thousand dollars to take a vacation 427 00:19:11,640 --> 00:19:14,040 Speaker 1: this year, but it's been so hard in years past, 428 00:19:14,080 --> 00:19:16,480 Speaker 1: and our family we really really need it. Been focusing 429 00:19:16,480 --> 00:19:19,880 Speaker 1: on that goal first, the end goal, instead of all 430 00:19:19,920 --> 00:19:21,640 Speaker 1: the little things it's going to take to get there 431 00:19:21,680 --> 00:19:24,679 Speaker 1: at the beginning at least reframes some of the actions 432 00:19:24,680 --> 00:19:26,880 Speaker 1: that you're gonna have to think about later. It makes them, 433 00:19:26,920 --> 00:19:29,800 Speaker 1: I think, less daunting, right man. And here's the thing too. 434 00:19:29,960 --> 00:19:31,760 Speaker 1: I know that we're talking about stress in a sort 435 00:19:31,760 --> 00:19:34,760 Speaker 1: of very clinical, kind of unemotional way, but it's worth 436 00:19:34,800 --> 00:19:38,200 Speaker 1: mentioning that financial stress it's not always rational, right. It's 437 00:19:38,200 --> 00:19:39,600 Speaker 1: it's difficult to kind of be out in the real 438 00:19:39,640 --> 00:19:42,160 Speaker 1: world experiencing the you know, the day to day things 439 00:19:42,160 --> 00:19:44,680 Speaker 1: that we're faced with in our lives and to be 440 00:19:44,720 --> 00:19:47,080 Speaker 1: this kind of straightforward and clinical about it. Um. And 441 00:19:47,160 --> 00:19:49,680 Speaker 1: you know, we're actually gonna talk with Michelle Singletary next week, 442 00:19:49,880 --> 00:19:53,639 Speaker 1: and she's been writing about money for decades. She's incredibly frugal, 443 00:19:53,680 --> 00:19:56,080 Speaker 1: and I think probably because of that, she admits to 444 00:19:56,119 --> 00:19:58,720 Speaker 1: having anxiety when it comes to spending on things that 445 00:19:58,760 --> 00:20:02,040 Speaker 1: she's been diligently saving. Four it's something that there's a 446 00:20:02,119 --> 00:20:04,840 Speaker 1: there's almost like a disconnect between the head knowledge of 447 00:20:05,040 --> 00:20:07,160 Speaker 1: you know, understanding something like the way we're talking about 448 00:20:07,160 --> 00:20:09,560 Speaker 1: it right now, versus putting that knowledge into action. And 449 00:20:09,600 --> 00:20:11,960 Speaker 1: so for for Michelle, the difficulty lies and being able 450 00:20:11,960 --> 00:20:14,760 Speaker 1: to enjoy some of what she's actually worked hard in 451 00:20:14,840 --> 00:20:17,400 Speaker 1: order to achieve. Yeah, I feel like financial stress isn't 452 00:20:17,400 --> 00:20:21,119 Speaker 1: always because someone's living paycheck to paycheck, um, And for 453 00:20:21,200 --> 00:20:23,359 Speaker 1: somebody like Michelle and kind of like for myself, I 454 00:20:23,359 --> 00:20:26,119 Speaker 1: feel like that's that's super evident because even when you 455 00:20:26,160 --> 00:20:28,200 Speaker 1: are frugal and you've handled money well for a long 456 00:20:28,240 --> 00:20:30,480 Speaker 1: period of time, like all the numbers point to the 457 00:20:30,520 --> 00:20:33,080 Speaker 1: fact that you really shouldn't be that stressed out, Like 458 00:20:33,320 --> 00:20:35,520 Speaker 1: you're saving a good portion of what you make, your 459 00:20:35,560 --> 00:20:38,320 Speaker 1: investments are looking good, um. But still, I think if 460 00:20:38,359 --> 00:20:40,920 Speaker 1: you have that hyper frugal gene like you, you also 461 00:20:41,040 --> 00:20:43,080 Speaker 1: have to work to overcome some of the stresses that 462 00:20:43,119 --> 00:20:45,639 Speaker 1: money can bring in your life. And maybe you're stressing 463 00:20:45,680 --> 00:20:48,280 Speaker 1: about things that you really don't need to be And 464 00:20:48,320 --> 00:20:50,280 Speaker 1: I know that's yeah, that's can be the case in 465 00:20:50,320 --> 00:20:52,600 Speaker 1: my life as well, where I need to work to 466 00:20:52,680 --> 00:20:55,399 Speaker 1: combat some of those stressors. But in real life, like 467 00:20:55,440 --> 00:20:59,040 Speaker 1: in the moment when I'm feeling those things, like, it's 468 00:20:59,080 --> 00:21:01,560 Speaker 1: it's not easy, right, It's not easy to to do 469 00:21:01,600 --> 00:21:03,560 Speaker 1: that self talk and say, you know what, it's okay, 470 00:21:03,600 --> 00:21:06,239 Speaker 1: let's look at the numbers. Uh, the emotion. It can 471 00:21:06,280 --> 00:21:08,919 Speaker 1: be really difficult to combat the emotion that you're feeling 472 00:21:09,160 --> 00:21:11,520 Speaker 1: with the numbers on the page. Yeah, it takes work 473 00:21:11,560 --> 00:21:14,639 Speaker 1: to control how we feel about the financial situations that 474 00:21:15,000 --> 00:21:17,080 Speaker 1: we have gotten ourselves. And you know that we find 475 00:21:17,080 --> 00:21:19,480 Speaker 1: ourselves in into a certain extent, like we have to 476 00:21:19,520 --> 00:21:22,120 Speaker 1: be willing to kind of rein in our emotions and 477 00:21:22,119 --> 00:21:24,320 Speaker 1: and I think viewing stress is something that we can 478 00:21:24,359 --> 00:21:27,240 Speaker 1: harness like that will allow us to take control of 479 00:21:27,280 --> 00:21:29,840 Speaker 1: not only our lives, but our money too. And so, 480 00:21:30,080 --> 00:21:32,639 Speaker 1: now that we've reframed you know what we think is 481 00:21:32,640 --> 00:21:35,720 Speaker 1: a better way to view financial stress, right after the break, 482 00:21:35,760 --> 00:21:38,560 Speaker 1: we're going to dive into some practical ways that will 483 00:21:38,640 --> 00:21:42,000 Speaker 1: allow you to transform that stress into for progress with 484 00:21:42,040 --> 00:21:53,400 Speaker 1: your money. Alright, we're back from break. We're talking about 485 00:21:53,440 --> 00:21:56,000 Speaker 1: financial stress and how you can actually use it to 486 00:21:56,080 --> 00:21:59,000 Speaker 1: your advantage. And Matt, So, we've talked about how stress 487 00:21:59,119 --> 00:22:02,399 Speaker 1: is traditionally viewed as a negative thing that should be 488 00:22:02,440 --> 00:22:04,919 Speaker 1: avoided at all costs. But I think sometimes when we 489 00:22:04,920 --> 00:22:07,600 Speaker 1: think about stress that way, Um, if we just want 490 00:22:07,760 --> 00:22:10,159 Speaker 1: everything in life to be super easy, we never have 491 00:22:10,240 --> 00:22:13,159 Speaker 1: to rise to the challenge. Stress, in many ways, in 492 00:22:13,240 --> 00:22:17,119 Speaker 1: some forms, can be a helpful motivator. And like also too, 493 00:22:17,160 --> 00:22:19,399 Speaker 1: we've talked about how rewiring the way that we think 494 00:22:19,440 --> 00:22:22,560 Speaker 1: about stress can help us get ahead. Now let's zero 495 00:22:22,600 --> 00:22:25,280 Speaker 1: in on some of the specific ways that we can 496 00:22:25,440 --> 00:22:28,560 Speaker 1: use stress for good in our lives and to be 497 00:22:28,600 --> 00:22:31,200 Speaker 1: helpful for our finances. Yeah, so first you want to 498 00:22:31,240 --> 00:22:33,920 Speaker 1: identify you know what we're gonna call the trouble spots. Right, 499 00:22:34,119 --> 00:22:36,480 Speaker 1: it's hard to manage stress that you might be experiencing 500 00:22:36,480 --> 00:22:38,760 Speaker 1: when you're not even sure what's causing it. And so 501 00:22:38,840 --> 00:22:40,679 Speaker 1: in order to do this, we would we think that 502 00:22:40,680 --> 00:22:43,720 Speaker 1: tracking your spending that is really important in the step 503 00:22:43,880 --> 00:22:45,760 Speaker 1: if you aren't already doing that, right, because how can 504 00:22:45,800 --> 00:22:47,560 Speaker 1: you figure out the trouble spots if you aren't doing 505 00:22:47,600 --> 00:22:52,240 Speaker 1: the basic financial necessity. Finding some clarity around the biggest 506 00:22:52,280 --> 00:22:55,200 Speaker 1: money culprits in your life that need your attention is 507 00:22:55,560 --> 00:22:57,800 Speaker 1: really important. And then after that, once you have tracked 508 00:22:57,800 --> 00:22:59,679 Speaker 1: your money, that's when you can create a plan to 509 00:22:59,760 --> 00:23:02,480 Speaker 1: tell cool those different culprits one by one. Yeah, man, 510 00:23:02,480 --> 00:23:04,840 Speaker 1: I feel like looking at the numbers. Actually it's like 511 00:23:04,880 --> 00:23:06,600 Speaker 1: the exact opposite of what I said before the break, 512 00:23:06,640 --> 00:23:10,119 Speaker 1: But sometimes it actually can be distressing. We've almost like 513 00:23:10,200 --> 00:23:12,720 Speaker 1: built up this problem in our heads, but we don't 514 00:23:12,720 --> 00:23:14,400 Speaker 1: know how big the problem is or what it is 515 00:23:14,600 --> 00:23:16,239 Speaker 1: if we don't know the numbers. And so I think 516 00:23:16,280 --> 00:23:20,600 Speaker 1: you're right identifying some of those trouble spots, you know. Yeah, 517 00:23:21,040 --> 00:23:24,439 Speaker 1: getting specific with what the problem is is like huge 518 00:23:24,640 --> 00:23:27,960 Speaker 1: in the attempt to remedy it, because otherwise it's sort 519 00:23:27,960 --> 00:23:32,160 Speaker 1: of like this vague malaise hanging over your financial situation, 520 00:23:32,240 --> 00:23:34,320 Speaker 1: right because you don't exactly know what's wrong, but you 521 00:23:34,320 --> 00:23:36,840 Speaker 1: know something's wrong, but you gotta put in the work 522 00:23:36,880 --> 00:23:38,720 Speaker 1: to actually figure out what it is. Yeah, it's like 523 00:23:38,760 --> 00:23:40,880 Speaker 1: I know my money sucks, but I don't know how bad, 524 00:23:41,400 --> 00:23:43,919 Speaker 1: like how bad the situation is, and so or and 525 00:23:43,960 --> 00:23:45,639 Speaker 1: maybe it's not as bad as you think, and that 526 00:23:45,720 --> 00:23:48,240 Speaker 1: might be distressing in and of itself, So I agree, Yeah, 527 00:23:48,280 --> 00:23:50,879 Speaker 1: identifying the trouble spots is key. It should be the 528 00:23:50,920 --> 00:23:52,680 Speaker 1: first thing that you're doing in order to try to 529 00:23:52,760 --> 00:23:56,320 Speaker 1: distress your financial situation. And you mentioned Matt having a plan, 530 00:23:56,480 --> 00:23:58,959 Speaker 1: which is, you know, in financial terms, the plan is 531 00:23:59,320 --> 00:24:01,639 Speaker 1: the budget. Yeah, planned for your money. That's a budget, 532 00:24:01,640 --> 00:24:04,159 Speaker 1: that's right, Yeah, And so yeah, one of our favorite 533 00:24:04,200 --> 00:24:06,520 Speaker 1: budgeting apps called You Need a Budget or wine app 534 00:24:06,600 --> 00:24:09,439 Speaker 1: for short. They conducted a survey and they found that 535 00:24:09,680 --> 00:24:12,720 Speaker 1: a huge majority of their users, three out of four, 536 00:24:12,920 --> 00:24:15,600 Speaker 1: who had a zero based budget, which means all their 537 00:24:15,640 --> 00:24:18,040 Speaker 1: dollars are spoken for. Every single month, they go to 538 00:24:18,200 --> 00:24:22,480 Speaker 1: specific areas of their financial life, whether it's saving, spending, investing, 539 00:24:22,480 --> 00:24:25,240 Speaker 1: paying off debt, and then if they checked that budget 540 00:24:25,280 --> 00:24:29,040 Speaker 1: on a weekly basis, they had little to know financial stress. So, like, 541 00:24:29,160 --> 00:24:31,880 Speaker 1: even when you're in a good spot financially, it's still 542 00:24:31,880 --> 00:24:34,399 Speaker 1: possible to feel overwhelmed, like I talked about, Like I 543 00:24:34,480 --> 00:24:36,480 Speaker 1: get there, and I know a lot of fellow money 544 00:24:36,480 --> 00:24:38,440 Speaker 1: nerds who feel the same way. They feel stressed about 545 00:24:38,440 --> 00:24:41,119 Speaker 1: their finances even though they're doing good with their money. 546 00:24:41,160 --> 00:24:44,320 Speaker 1: But it's so much easier, I think to avoid burnout 547 00:24:44,560 --> 00:24:46,800 Speaker 1: when your budget is working well, when you have a 548 00:24:46,840 --> 00:24:49,520 Speaker 1: game plan, and when you're consistently checking in on it. 549 00:24:49,920 --> 00:24:53,280 Speaker 1: So yeah, tracking your spending, identifying those trouble spots. But 550 00:24:53,320 --> 00:24:55,520 Speaker 1: then also you know, having that budget and checking in 551 00:24:55,520 --> 00:24:57,679 Speaker 1: on it regularly, that's a way to be more in 552 00:24:57,760 --> 00:25:00,520 Speaker 1: tune with what's actually happening in you're finding too and 553 00:25:00,520 --> 00:25:03,000 Speaker 1: it's gonna like, yeah, lower the stress level in almost 554 00:25:03,000 --> 00:25:05,400 Speaker 1: every case, that's right, man. And after that, we would 555 00:25:05,400 --> 00:25:08,119 Speaker 1: recommend for folks just to tackle one thing at a time. 556 00:25:08,160 --> 00:25:10,600 Speaker 1: Once you've created a plan for your money, we want 557 00:25:10,640 --> 00:25:12,960 Speaker 1: you to be realistic about the time that's actually gonna 558 00:25:12,960 --> 00:25:15,440 Speaker 1: take to work on that list of the different trouble 559 00:25:15,480 --> 00:25:18,240 Speaker 1: spots that you're working on. Uh makes me think of Rome, right. 560 00:25:18,320 --> 00:25:21,000 Speaker 1: Rome wasn't built in a day. In your financial ship, 561 00:25:21,160 --> 00:25:23,520 Speaker 1: it's not going to be righted in one single day either. 562 00:25:23,840 --> 00:25:25,760 Speaker 1: We want everyone out there to be kind to yourselves. 563 00:25:25,800 --> 00:25:28,400 Speaker 1: It's you know, likely took you years to get into 564 00:25:28,440 --> 00:25:31,000 Speaker 1: the financial hole that you might have found yourself in. Uh, 565 00:25:31,000 --> 00:25:32,720 Speaker 1: and it's probably gonna take some time for you to 566 00:25:32,760 --> 00:25:36,159 Speaker 1: climb out. But trying to remedy say a dozen different 567 00:25:36,160 --> 00:25:39,320 Speaker 1: financial trouble spots in a week or two will likely 568 00:25:39,400 --> 00:25:43,119 Speaker 1: lead to unmanageable stress. And so again, a small amount 569 00:25:43,119 --> 00:25:45,880 Speaker 1: of stress is good like that informs you, but an 570 00:25:45,960 --> 00:25:49,600 Speaker 1: unmanageable and overwhelming amount of stress can lead to some 571 00:25:49,600 --> 00:25:52,040 Speaker 1: some tough spots. So focus on the most important trouble 572 00:25:52,040 --> 00:25:53,800 Speaker 1: spot and kick that one's butt, and then after that 573 00:25:53,840 --> 00:25:55,560 Speaker 1: move on to number two. It's also helpful to be 574 00:25:55,600 --> 00:25:57,960 Speaker 1: organized and making sure that you're sitting aside the proper 575 00:25:58,000 --> 00:25:59,880 Speaker 1: amount of time to work on your finances as well, 576 00:25:59,880 --> 00:26:03,159 Speaker 1: and so commit and include a weekly counter slot so 577 00:26:03,200 --> 00:26:06,359 Speaker 1: that you're working on your finances regularly, not trying to 578 00:26:06,359 --> 00:26:09,080 Speaker 1: accomplish everything and just one fell swoop, but do it 579 00:26:09,119 --> 00:26:11,960 Speaker 1: methodically and with some regularity. Yeah. Man, it's good to 580 00:26:12,000 --> 00:26:14,080 Speaker 1: have high standards. It's good to have big goals that 581 00:26:14,119 --> 00:26:16,159 Speaker 1: you're shooting for. But I think, yeah, if you if 582 00:26:16,200 --> 00:26:18,800 Speaker 1: you set the bar too high, Uh, let's say you're like, 583 00:26:18,840 --> 00:26:20,560 Speaker 1: it's your first time pole vaulting and you said they 584 00:26:20,720 --> 00:26:23,280 Speaker 1: literally set the bar really high, Um, You're you're probably 585 00:26:23,320 --> 00:26:25,320 Speaker 1: gonna like crash into it with your head or something 586 00:26:25,359 --> 00:26:28,560 Speaker 1: like that, and that might completely eliminate your desire to 587 00:26:28,760 --> 00:26:31,000 Speaker 1: do pole jumping anymore. And I think it's that way 588 00:26:31,040 --> 00:26:32,439 Speaker 1: with with a whole lot of things. If you're like, 589 00:26:32,480 --> 00:26:35,840 Speaker 1: I want to run uh six minute mile, and that 590 00:26:35,840 --> 00:26:38,320 Speaker 1: that's a that's a great goal, just realize that if 591 00:26:38,400 --> 00:26:42,600 Speaker 1: you haven't ran in like eight years, you're probably not 592 00:26:42,600 --> 00:26:45,359 Speaker 1: going to hit that anytime soon. Again, it's this great 593 00:26:45,400 --> 00:26:47,440 Speaker 1: long term goal, but but you have to be realistic 594 00:26:47,480 --> 00:26:49,800 Speaker 1: about the time frame to get there so that you 595 00:26:49,800 --> 00:26:53,280 Speaker 1: don't get completely bummed out in the process and forget 596 00:26:53,320 --> 00:26:55,640 Speaker 1: it all together, just scrap the goal together. You want 597 00:26:55,640 --> 00:26:57,360 Speaker 1: to make sure you approach your money in the same 598 00:26:57,400 --> 00:26:59,040 Speaker 1: way that you're not like, I'm gonna pay off all 599 00:26:59,040 --> 00:27:00,960 Speaker 1: this credit card debt in a month and a half 600 00:27:01,280 --> 00:27:03,720 Speaker 1: when it's actually if you look at it in what 601 00:27:03,760 --> 00:27:07,119 Speaker 1: fits into your budget, it's gonna take, you know, fourteen months. 602 00:27:07,359 --> 00:27:09,840 Speaker 1: You want to be realistic so that you can actually 603 00:27:09,880 --> 00:27:12,600 Speaker 1: achieve those goals. It's important to Matt as we're you know, 604 00:27:12,600 --> 00:27:16,000 Speaker 1: attempting to achieve those goals, to track our progress along 605 00:27:16,040 --> 00:27:18,520 Speaker 1: the way, because it feels really really good when you 606 00:27:18,560 --> 00:27:20,240 Speaker 1: do make progress, like when you do pay off that 607 00:27:20,280 --> 00:27:23,159 Speaker 1: first credit card of three or four right that you 608 00:27:23,240 --> 00:27:25,840 Speaker 1: have a lot of a balance on. But really it's 609 00:27:25,840 --> 00:27:27,960 Speaker 1: it's easy, I think, to allow stress to maybe show 610 00:27:28,040 --> 00:27:30,920 Speaker 1: up and like Steven Seagal style or Chuck Norris style, 611 00:27:31,000 --> 00:27:34,600 Speaker 1: kicked down your mental door rather than like politely knocking 612 00:27:34,680 --> 00:27:37,479 Speaker 1: and kind of being that accelerator. It just does us 613 00:27:37,480 --> 00:27:40,520 Speaker 1: in right, it messes us up mentally. Uh So, Yeah, 614 00:27:40,640 --> 00:27:43,560 Speaker 1: keep a list on hand and cross out the items 615 00:27:43,560 --> 00:27:45,440 Speaker 1: in a red pen and keep a physical list when 616 00:27:45,480 --> 00:27:47,960 Speaker 1: they've been completed, so you can throw a mini celebration 617 00:27:48,040 --> 00:27:50,399 Speaker 1: and then and then remember how far you've come and 618 00:27:50,440 --> 00:27:53,479 Speaker 1: if you need a quick win, which quick wins always helpful. 619 00:27:53,480 --> 00:27:55,480 Speaker 1: So for instance, let's say you want to to make 620 00:27:55,520 --> 00:27:58,439 Speaker 1: that six mile run happen, get out and run today, 621 00:27:58,560 --> 00:28:00,520 Speaker 1: even if it's just a tenth of a mile. Um. 622 00:28:00,520 --> 00:28:03,359 Speaker 1: But yeah, check out episode two sixty. We we did 623 00:28:03,400 --> 00:28:05,600 Speaker 1: an episode called seven Ways to Save More this week, 624 00:28:05,840 --> 00:28:08,040 Speaker 1: and we really wanted to give people a way to 625 00:28:08,160 --> 00:28:10,320 Speaker 1: do one thing a day for seven days to be 626 00:28:10,320 --> 00:28:13,000 Speaker 1: able to save more and spend less. And that's a 627 00:28:13,040 --> 00:28:15,720 Speaker 1: good resource for you as you want to accelerate that 628 00:28:15,800 --> 00:28:18,840 Speaker 1: progress because there's just something really important about getting that 629 00:28:18,920 --> 00:28:21,600 Speaker 1: first win under your belt. I feel like Matt, one 630 00:28:21,600 --> 00:28:23,760 Speaker 1: win is indicative of another one. Sometimes you get on 631 00:28:23,840 --> 00:28:27,320 Speaker 1: a roll momentum is underrated. It can be a game changer. Yeah, 632 00:28:27,359 --> 00:28:30,720 Speaker 1: there's nothing like breaking that losing streak, right, and dude, 633 00:28:30,720 --> 00:28:33,240 Speaker 1: don't forget about the fund as well, the emergency fund. 634 00:28:33,560 --> 00:28:35,960 Speaker 1: Having cash in the bank is Yeah. We we feel 635 00:28:35,960 --> 00:28:39,480 Speaker 1: it's one of the biggest differences between stress just completely 636 00:28:39,520 --> 00:28:42,760 Speaker 1: dominating every thought versus your ability to learn from what 637 00:28:42,800 --> 00:28:45,400 Speaker 1: your stress might be teaching you. Right, So maybe you're 638 00:28:45,400 --> 00:28:47,000 Speaker 1: thinking like that, you know that credit card debt and 639 00:28:47,040 --> 00:28:48,880 Speaker 1: stressing you out. I get it, and I know you 640 00:28:48,920 --> 00:28:50,520 Speaker 1: want to pay it off as soon as possible. But 641 00:28:50,600 --> 00:28:53,680 Speaker 1: having money on hand, starting with the two thousand, four 642 00:28:53,760 --> 00:28:56,360 Speaker 1: hundred and sixty seven dollars that we like to see 643 00:28:56,640 --> 00:28:59,920 Speaker 1: that takes precedent even over high interest rate credit card debt, 644 00:29:00,160 --> 00:29:03,800 Speaker 1: and so make sure to keep that around. Uh. Really, 645 00:29:03,800 --> 00:29:06,440 Speaker 1: it's like a soothing bomb to know that you've got 646 00:29:06,440 --> 00:29:09,680 Speaker 1: liquid funds available should you need them. Yeah, that's a 647 00:29:09,840 --> 00:29:13,560 Speaker 1: super practical way to avoid some of the stressful situations 648 00:29:13,600 --> 00:29:16,360 Speaker 1: that that money mistakes can get you into. Just having 649 00:29:16,480 --> 00:29:20,280 Speaker 1: that cash in the bank account can eliminate a huge 650 00:29:20,280 --> 00:29:23,760 Speaker 1: percentage of the financial stressors, or at least minimize them 651 00:29:23,880 --> 00:29:25,920 Speaker 1: right and make them not seem like as big of 652 00:29:25,920 --> 00:29:27,960 Speaker 1: a deal as we make them out to be. Also, 653 00:29:28,000 --> 00:29:29,800 Speaker 1: to Matt, I think it's it's important for people to 654 00:29:30,080 --> 00:29:33,320 Speaker 1: ask for support from the people in their lives. That 655 00:29:33,360 --> 00:29:35,880 Speaker 1: can also help with the level of financial stress in 656 00:29:35,920 --> 00:29:38,960 Speaker 1: your life. And I'm not talking about hiring a financial planner. 657 00:29:39,000 --> 00:29:40,720 Speaker 1: I think that is one of the things maybe that 658 00:29:40,760 --> 00:29:43,920 Speaker 1: people go to instinctively, is they go pay someone big 659 00:29:43,920 --> 00:29:46,280 Speaker 1: bucks and they say, help me out. I'm stressed out. 660 00:29:46,880 --> 00:29:49,080 Speaker 1: But that doesn't always work the way you want it to. 661 00:29:49,200 --> 00:29:51,840 Speaker 1: So yeah, talking with maybe a partner or a trusted 662 00:29:51,880 --> 00:29:54,720 Speaker 1: friend can really help put things in perspective. Matt, we 663 00:29:54,840 --> 00:29:57,920 Speaker 1: just met with a couple recently over beers. They're about 664 00:29:57,920 --> 00:30:00,000 Speaker 1: to have a baby, and so they're getting more nervous 665 00:30:00,160 --> 00:30:02,520 Speaker 1: about their financial situation. They're like, are we doing this right? 666 00:30:02,760 --> 00:30:04,600 Speaker 1: And so yeah, I feel like you and I we 667 00:30:04,600 --> 00:30:07,120 Speaker 1: were able to offer some help, but we were also 668 00:30:07,160 --> 00:30:09,680 Speaker 1: able to reassure them that they are doing well with 669 00:30:09,720 --> 00:30:11,600 Speaker 1: their finances, that they're crushing it. Yeah, they're in a 670 00:30:11,600 --> 00:30:14,240 Speaker 1: great position, and like, sometimes you just need a dose 671 00:30:14,640 --> 00:30:17,800 Speaker 1: of confidence building kindness to lower the negative emotions that 672 00:30:17,840 --> 00:30:21,320 Speaker 1: you're feeling. You're stressed out with that perspective from someone 673 00:30:21,360 --> 00:30:23,840 Speaker 1: else can help you realize that you're doing a better 674 00:30:23,960 --> 00:30:26,880 Speaker 1: job than you thought you were. That outside input can 675 00:30:26,920 --> 00:30:30,200 Speaker 1: be invaluable and kind of yeah, lowering the level of 676 00:30:30,240 --> 00:30:32,960 Speaker 1: money stress in your life. Yeah, man, that outside input 677 00:30:32,960 --> 00:30:35,760 Speaker 1: can be helpful. I think journaling and going to counseling 678 00:30:35,800 --> 00:30:37,640 Speaker 1: could also be you know, some other ways to manage 679 00:30:37,640 --> 00:30:39,880 Speaker 1: your stress. Uh. And you know why we want to 680 00:30:39,960 --> 00:30:43,360 Speaker 1: encourage everyone to slow down and to be introspective. If 681 00:30:43,400 --> 00:30:45,520 Speaker 1: things are bad enough, it's true that you might need 682 00:30:45,560 --> 00:30:48,280 Speaker 1: the help of of of a nonprofit budget counselor. We 683 00:30:48,320 --> 00:30:51,040 Speaker 1: would recommend for folks to check out Money Management International 684 00:30:51,480 --> 00:30:54,600 Speaker 1: or NAPFA dot org. Uh. If you feel that you're 685 00:30:54,600 --> 00:30:56,800 Speaker 1: in over your head when it comes to debt. You know, 686 00:30:57,040 --> 00:30:59,240 Speaker 1: here on the show, our focus is on the money aspect, 687 00:30:59,240 --> 00:31:03,080 Speaker 1: but you know, sometimes the stress goes beyond just finances. Uh. 688 00:31:03,120 --> 00:31:06,360 Speaker 1: Mental health extends beyond those money conversations that that we 689 00:31:06,400 --> 00:31:08,520 Speaker 1: often have here on the show. And so the National 690 00:31:08,520 --> 00:31:11,880 Speaker 1: Alliance on Mental Illness they actually have resources on their 691 00:31:11,920 --> 00:31:13,960 Speaker 1: site to help if you need more than just a 692 00:31:13,960 --> 00:31:16,360 Speaker 1: budget counselor or a couple of friendly dudes to kind 693 00:31:16,360 --> 00:31:18,040 Speaker 1: of talk through your finances. With and we'll make sure 694 00:31:18,040 --> 00:31:20,080 Speaker 1: to link to all of those sites on our website. Yeah, 695 00:31:20,120 --> 00:31:22,680 Speaker 1: sometimes a budget counselor is you know, the right thing, 696 00:31:22,720 --> 00:31:24,960 Speaker 1: that's the person you need. Sometimes it's just a friend, 697 00:31:25,040 --> 00:31:28,800 Speaker 1: and sometimes it is you know, an actual license therapist 698 00:31:28,880 --> 00:31:30,880 Speaker 1: or a counselor. Um and Matt, I think you know 699 00:31:30,960 --> 00:31:33,720 Speaker 1: one other way in which we can lower the level 700 00:31:33,720 --> 00:31:36,760 Speaker 1: of stressing our lives that's often overlooked, and it's probably 701 00:31:36,840 --> 00:31:40,040 Speaker 1: because we are turning to things like self care a 702 00:31:40,080 --> 00:31:43,040 Speaker 1: little bit too much. We're turning on Netflix, or we're 703 00:31:43,040 --> 00:31:45,920 Speaker 1: scrolling through our phones in order to kind of not 704 00:31:46,080 --> 00:31:49,320 Speaker 1: focus on the things that are stressing us out. But 705 00:31:49,840 --> 00:31:52,920 Speaker 1: sometimes we're just way too focused on ourselves, Like we 706 00:31:52,960 --> 00:31:55,080 Speaker 1: see all the little things that might not be as 707 00:31:55,120 --> 00:31:56,720 Speaker 1: big of a deal as we're making them out to be. 708 00:31:57,160 --> 00:31:59,920 Speaker 1: And so I think one of the perfect antidotes is 709 00:32:00,080 --> 00:32:03,640 Speaker 1: taking time to serve someone else. That might mean having 710 00:32:03,640 --> 00:32:05,800 Speaker 1: a friend over for dinner who's been having a tough time. 711 00:32:05,920 --> 00:32:08,200 Speaker 1: Let's say they lived alone during the pandemic and they 712 00:32:08,200 --> 00:32:11,720 Speaker 1: are just massively in need of some social interaction. Um, 713 00:32:11,880 --> 00:32:13,960 Speaker 1: you know, making dinner for them and having a glass 714 00:32:13,960 --> 00:32:16,400 Speaker 1: of wine together and talking and just caring for them 715 00:32:16,440 --> 00:32:18,840 Speaker 1: in that way I think can be a huge d 716 00:32:18,920 --> 00:32:22,479 Speaker 1: stressor or volunteering in your community to tutor kids after school. 717 00:32:22,840 --> 00:32:26,040 Speaker 1: There really is like something almost magical about serving others 718 00:32:26,280 --> 00:32:28,840 Speaker 1: and how it affects our stress levels in a positive way. 719 00:32:28,880 --> 00:32:31,959 Speaker 1: I think it just puts everything in perspective, helping us 720 00:32:32,040 --> 00:32:34,040 Speaker 1: realize that there's a whole lot more going on in 721 00:32:34,040 --> 00:32:37,560 Speaker 1: this world than just our problem, whether it's money based 722 00:32:37,640 --> 00:32:40,160 Speaker 1: or or something else. Yeah, but I think volunteering and 723 00:32:40,200 --> 00:32:43,040 Speaker 1: service projects, um and and just caring for someone else, 724 00:32:43,040 --> 00:32:45,400 Speaker 1: whether it's a neighbor or a friend really well is 725 00:32:45,440 --> 00:32:48,000 Speaker 1: definitely a way to help mitigate some of the stresses 726 00:32:48,040 --> 00:32:49,960 Speaker 1: that we're feeling. Yeah. I think when we're able to 727 00:32:50,000 --> 00:32:52,680 Speaker 1: remove ourselves from our own situations sometimes and kind of 728 00:32:52,720 --> 00:32:54,840 Speaker 1: look at the world and ah, you know, with a 729 00:32:54,840 --> 00:32:57,360 Speaker 1: wider lens, it definitely provides some of that that missing 730 00:32:57,400 --> 00:32:59,560 Speaker 1: perspective in our lives. And so, man, you know that 731 00:32:59,640 --> 00:33:00,880 Speaker 1: kind of as we wrap things up here, we we 732 00:33:00,880 --> 00:33:02,760 Speaker 1: feel that it's impossible to kick stress to the curb 733 00:33:02,840 --> 00:33:05,160 Speaker 1: completely right, and when it comes down to it, we 734 00:33:05,200 --> 00:33:07,360 Speaker 1: think that the right amount of stress can actually be 735 00:33:07,680 --> 00:33:11,120 Speaker 1: a motivating tool for good in our lives. Um. You know, 736 00:33:11,320 --> 00:33:14,000 Speaker 1: like we feel that life is always throwing us curveballs, 737 00:33:14,040 --> 00:33:16,360 Speaker 1: but being in a tough financial spot that can actually 738 00:33:16,400 --> 00:33:19,320 Speaker 1: make life even more stressful. And we want money to 739 00:33:19,320 --> 00:33:21,480 Speaker 1: be a source of less stress in your life. So 740 00:33:21,560 --> 00:33:24,280 Speaker 1: instead of taking you know, the stress relief routes that 741 00:33:24,280 --> 00:33:26,920 Speaker 1: most Americans take, which, like we said, you know, it 742 00:33:26,960 --> 00:33:29,400 Speaker 1: only leads to worse outcomes and and even more stress. 743 00:33:29,640 --> 00:33:32,840 Speaker 1: We would rather see folks set more realistic expectations h 744 00:33:32,880 --> 00:33:36,200 Speaker 1: and to start working towards solutions that will will impact 745 00:33:36,200 --> 00:33:39,040 Speaker 1: your mental health and your finances in a positive way. 746 00:33:39,240 --> 00:33:41,440 Speaker 1: We don't want you to completely ignore stress in your life, 747 00:33:41,440 --> 00:33:43,040 Speaker 1: but we want you instead to listen to it. We 748 00:33:43,040 --> 00:33:45,640 Speaker 1: wanted to inform the decisions you make so that you're 749 00:33:45,640 --> 00:33:48,240 Speaker 1: working towards your goals. No doubt, Matt, stress can have 750 00:33:48,280 --> 00:33:50,360 Speaker 1: a good side, it turns out, and hopefully we can 751 00:33:50,440 --> 00:33:52,760 Speaker 1: use that stress as a motivator and not as yeah, 752 00:33:52,840 --> 00:33:56,120 Speaker 1: something that defeats us. Um. But let's move back to 753 00:33:56,160 --> 00:33:58,800 Speaker 1: the beer that we had on this episode. This one 754 00:33:58,840 --> 00:34:02,600 Speaker 1: was called Mouhito by Bolero Snort Brewery. He told Logger 755 00:34:02,640 --> 00:34:06,640 Speaker 1: with lime, juice and mint, what was your take on it? Uh? Beach. Like. 756 00:34:06,720 --> 00:34:08,799 Speaker 1: That's what I thought of as I was rinking this beer. 757 00:34:09,160 --> 00:34:10,560 Speaker 1: And I think the reason it reminds me of the 758 00:34:10,560 --> 00:34:13,560 Speaker 1: beach not just because of the mohito, but because it 759 00:34:13,600 --> 00:34:16,640 Speaker 1: tastes a lot like bud Light lime. And the only 760 00:34:16,680 --> 00:34:18,840 Speaker 1: time I think I've ever had that beer is actually 761 00:34:18,880 --> 00:34:21,040 Speaker 1: on the beach. Uh. I know, back in the day, 762 00:34:21,080 --> 00:34:24,640 Speaker 1: you're the only place it's okay to Yeah, so, uh, 763 00:34:24,760 --> 00:34:26,840 Speaker 1: you know, this was a different beer, a different take 764 00:34:27,080 --> 00:34:29,520 Speaker 1: on this style of lager. And here's the thing, I'm 765 00:34:29,520 --> 00:34:32,040 Speaker 1: not gonna hate on any specific type of style of beer, 766 00:34:32,080 --> 00:34:34,399 Speaker 1: because I think there's virtually a time and place for 767 00:34:34,440 --> 00:34:36,360 Speaker 1: any type of beer out there. It was fun to 768 00:34:36,480 --> 00:34:39,240 Speaker 1: enjoy this one today. You know, temperatures are definitely warmer 769 00:34:39,320 --> 00:34:42,120 Speaker 1: around uh here in Atlanta. I thought this one was good, 770 00:34:42,120 --> 00:34:43,759 Speaker 1: but I think I would have enjoyed it even more 771 00:34:43,800 --> 00:34:45,640 Speaker 1: if I was sitting there with my toes in the sand. Yeah, 772 00:34:46,560 --> 00:34:48,239 Speaker 1: everything tastes better with your toes in the sand. I 773 00:34:48,239 --> 00:34:50,880 Speaker 1: think that's what Corona at least is banking on with 774 00:34:50,920 --> 00:34:52,520 Speaker 1: their and the way they do their commercials. But yeah, 775 00:34:52,640 --> 00:34:55,600 Speaker 1: I thought this this beer was had a refreshing factor 776 00:34:55,680 --> 00:34:58,160 Speaker 1: for sure, right because like mint and lime, those those 777 00:34:58,160 --> 00:35:01,960 Speaker 1: two ingredients just to me, they dream refreshing. But it 778 00:35:02,080 --> 00:35:04,040 Speaker 1: was light and it did taste a little bit like 779 00:35:04,040 --> 00:35:05,799 Speaker 1: a beer moheat um. Like I think they got what 780 00:35:05,840 --> 00:35:08,520 Speaker 1: they were going for. But yeah, for me, this wasn't 781 00:35:09,000 --> 00:35:10,959 Speaker 1: my jam um in a big way. I would say 782 00:35:11,280 --> 00:35:14,160 Speaker 1: I probably wouldn't pick this up again at the bottle shop, 783 00:35:14,239 --> 00:35:16,759 Speaker 1: but uh, it was. I agree. If if I was 784 00:35:16,760 --> 00:35:18,720 Speaker 1: on the beach, I'd feel differently about it. I'd probably 785 00:35:18,760 --> 00:35:20,480 Speaker 1: be down with this. It's just not a beer that 786 00:35:20,480 --> 00:35:22,799 Speaker 1: I want to drink within the four walls of my 787 00:35:22,880 --> 00:35:25,759 Speaker 1: home or our podcasting studio totally. Well, that's the thing. 788 00:35:25,880 --> 00:35:27,959 Speaker 1: Like there's beers like we we've taken really good beers 789 00:35:28,000 --> 00:35:29,279 Speaker 1: to the beach before, like when we go to the 790 00:35:29,320 --> 00:35:31,480 Speaker 1: beach with our families, and we've had really good beers 791 00:35:31,480 --> 00:35:33,600 Speaker 1: on the beach before, and I'll tell you what, I 792 00:35:33,640 --> 00:35:35,680 Speaker 1: did not enjoy them nearly as much out there in 793 00:35:35,719 --> 00:35:38,200 Speaker 1: the sun, sweating, you know, with the ocean, you know, 794 00:35:38,640 --> 00:35:41,000 Speaker 1: out before you it's like too much and so yeah, yeah, yeah, 795 00:35:41,040 --> 00:35:43,080 Speaker 1: there's there's almost too much flavor and so the time 796 00:35:43,160 --> 00:35:45,399 Speaker 1: in the place that you enjoy a beer that has 797 00:35:45,480 --> 00:35:49,760 Speaker 1: everything to do with the ultimate satisfaction of the beverage. 798 00:35:49,800 --> 00:35:51,320 Speaker 1: But even still, man, I'm glad that you and I 799 00:35:51,360 --> 00:35:53,319 Speaker 1: got to share this one on the show today, and 800 00:35:53,320 --> 00:35:55,320 Speaker 1: that's gonna be it for this episode. Listeners will be 801 00:35:55,360 --> 00:35:57,120 Speaker 1: able to find our show notes up on our website 802 00:35:57,120 --> 00:36:00,560 Speaker 1: at how some money dot com. That's right, So until 803 00:36:00,560 --> 00:36:03,080 Speaker 1: next time, best friends Out, Best Friends Out,