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Speaker 1: Personally with ya feels men money, money, money, money. I

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Speaker 1: don't even know where that comes from, but I love

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Speaker 1: that saying. This week we are talking all about that

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Speaker 1: M word.

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Speaker 2: Yes, money.

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Speaker 1: No one likes to talk about finances because they're scary,

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Speaker 1: but we're going to dive into it. First up, I

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Speaker 1: have Anna brading On, a financial educator and author, to

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Speaker 1: talk about the three m's of money, how to save

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Speaker 1: while you're still living your life, and the best of

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Speaker 1: the best big investments to make. We're talking cars, houses,

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Speaker 1: that kind of thing. Then Daniel Brigham is coming on

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Speaker 1: to share his story and how moments in his life

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Speaker 1: led to a difficult relationship with money, and how he

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Speaker 1: turned things around and the steps he still takes today

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Speaker 1: to create a better life for himself.

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Speaker 2: I have Anna brading On with me. I'm really excited.

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Speaker 1: She's a financial education instructor and an author and this

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Speaker 1: topic is so important.

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Speaker 2: So Anna, thank you for being here. How are you.

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Speaker 3: I'm doing very well, thank you.

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Speaker 4: I mean survival mode in the British winter at the moment,

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Speaker 4: but I will get through it. I'm powering on and

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Speaker 4: saying it will be spring, so that'd be great.

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Speaker 2: Yes it will.

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Speaker 1: We're powering over here in the winter too, So I

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Speaker 1: totally understand. I'm really excited to talk with you about

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Speaker 1: all things finances because this is one thing that I

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Speaker 1: don't feel like I had a lot of education on

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Speaker 1: growing up. I got really lucky that I had parents

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Speaker 1: who were really smart with their money, and they were

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Speaker 1: good at saving and they were good at investing, and

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Speaker 1: they taught that to me.

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Speaker 2: But in schools it's not something you really learn about.

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Speaker 2: So this is why I have you on.

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Speaker 1: You're gonna be our educational teacher today.

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Speaker 3: That's my happy place. I'm tightally fine with that.

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Speaker 4: Bye way, all.

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Speaker 2: Right, So here we go.

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Speaker 1: What are some things about money that we should have

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Speaker 1: been taught growing up? As we really started to get

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Speaker 1: into finances and we got our first paychecked and we understood, oh.

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Speaker 2: We're getting paid for the things that we're doing.

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Speaker 1: What are some things that you wish maybe if we

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Speaker 1: did get tied in school, they would have tout us.

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Speaker 4: There are so many things and so many angles we

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Speaker 4: can go on in this. And one of the things

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Speaker 4: I like to talk about is the three what I

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Speaker 4: call the three ms in money. And I think if

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Speaker 4: we zoom out for a second and we just go

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Speaker 4: big picture. Okay, let's just take a step backwards and

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Speaker 4: look at the big picture of money and finance, because

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Speaker 4: there's so much we need to know that we didn't

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Speaker 4: get to it exactly as you're saying.

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Speaker 3: Let's break it down a little bit.

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Speaker 4: So I have like three MS of money, so I

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Speaker 4: have mindset, manage, and multiply, and I think so often

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Speaker 4: what we can do is we come to a crunch

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Speaker 4: point in our lives where we go, oh, it's not working.

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Speaker 4: I feel broke, i feel stressed out about my finances.

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Speaker 4: I've got nothing in my savings account. I've just dipped

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Speaker 4: into it over Christmas. Panic, panic, panic, And then we

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Speaker 4: can go into fix it mode and try and figure

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Speaker 4: stuff out. But I think it's really important to understand

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Speaker 4: this overarching, broad, big picture of our finances and then

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Speaker 4: when these things up, we can zoom in on one

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Speaker 4: of those MS and have a look. Is it a

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Speaker 4: mindset thing going on here? Is it a managed thing

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Speaker 4: of how you're managing your money.

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Speaker 3: Or is it a multiply thing of how you're growing.

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Speaker 4: And building your wealth. So those are the kind of

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Speaker 4: that's the big picture. So the three m's is a

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Speaker 4: really good starting point I think.

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Speaker 1: I think the mindset is really difficult from people, especially

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Speaker 1: when it comes.

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Speaker 2: To saving our money.

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Speaker 1: I think the idea of saving is really great and

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Speaker 1: you're like, yeah, I need to do that, but when

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Speaker 1: it comes down to it, we just don't. So when

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Speaker 1: somebody's trying to save, or you're encouraging them to start saving,

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Speaker 1: what are those first steps you're encouraging them to take.

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Speaker 4: Yeah, I think let's come back to the mindset thing

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Speaker 4: for a second, because I think as you're describing it there,

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Speaker 4: when one of the key ways to know one of

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Speaker 4: the key signs that you've got a mindset thing going

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Speaker 4: on here is when you're trying to do something and

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Speaker 4: it's just not happening, and you're like, I'm trying to

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Speaker 4: go trying to get my saving sorted, I'm trying to

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Speaker 4: move forward, but I just keep coming back to this

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Speaker 4: same point. I think that can be a really key

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Speaker 4: indicator that there's something going on and you're inner wiring

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Speaker 4: that's stopping it actually happening.

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Speaker 5: Yeah.

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Speaker 4: I always like to think of mindset stuff as like

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Speaker 4: either a handbrake or an accelerator pedal. So if you

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Speaker 4: want to start saving and you really want to get

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Speaker 4: it going. It is your mindset wired in such a

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Speaker 4: way that actually, when you get going, you're just powering

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Speaker 4: that direction.

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Speaker 3: Or is it just the break goes on and you

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Speaker 3: just can't get going.

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Speaker 4: But I think your right to flag savings because I

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Speaker 4: think that can be one of the toughest things. And

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Speaker 4: let's be honest, saving money is.

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Speaker 3: Not glamorous and it's not sexy.

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Speaker 4: It's not the thing that makes you go, oh, I

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Speaker 4: just can't wait to get savings is really exciting.

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Speaker 3: Some stuff we.

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Speaker 4: Talk about with money is really exciting. It's fun, it's interesting.

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Speaker 4: Maybe you started a little business and it's starting to

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Speaker 4: get going, you've made your first sale.

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Speaker 3: So fun. But when we talk.

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Speaker 4: About the quiet discipline of putting a bit of money

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Speaker 4: into a savings account, it's just not as glamorous. So

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Speaker 4: I think it's good to acknowledge that and identify that.

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Speaker 4: So what I like to do is I like to

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Speaker 4: really zone in and focus on what is this saving

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Speaker 4: going to achieve for me? What's the outcome, what's the

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Speaker 4: why behind it?

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Speaker 3: Because I think when we.

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Speaker 4: Dial into the why, when we get that really clear

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Speaker 4: in our focusing, in our mind, we can align our motions.

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Speaker 3: We can align our mindset and it can then just

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Speaker 3: help keep us on track when it does get a

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Speaker 3: bit boring and it gets to be a little bit difficult.

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Speaker 4: Those moments where you're standing in I don't know equivalent

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Speaker 4: closed shop is in America in the UK, we've got

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Speaker 4: your Zara and you've got your h.

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Speaker 2: And m oh yeah we have those two those Definitely.

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Speaker 4: You're looking at that amazing outfit and you're thinking, I

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Speaker 4: really want that, but I've got savings.

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Speaker 3: I've committed to saving.

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Speaker 4: But I can look, I can just open that app

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Speaker 4: on my phone, I can see the money is there.

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Speaker 4: I can just dip into it. And it's in those

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Speaker 4: moments that you better have a good reason to save,

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Speaker 4: because that's going to bail you out.

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Speaker 3: In that moment.

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Speaker 4: So what is it, What is it that's motivating you

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Speaker 4: to do it? Is it just because someone's told you

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Speaker 4: to or in my case, it was a case of

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Speaker 4: I needed I knew I needed to build an emergency fund,

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Speaker 4: which we could talk about maybe if you want, later on,

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Speaker 4: but it was this sort of idea of building up

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Speaker 4: a lump sum and I knew that if I did

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Speaker 4: that and I completed that, that would then open.

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Speaker 3: The door to allow me to start confidently.

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Speaker 4: Investing, and I knew that investing was the thing I

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Speaker 4: really wanted to get to because then I could start

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Speaker 4: to grow my wealth and I could start to move

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Speaker 4: from a place of being paycheck to paycheck the whole

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Speaker 4: time and actually start planning for my future and get

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Speaker 4: excited about that. So it was like this, It was

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Speaker 4: almost like this tool really to get me to where

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Speaker 4: I wanted to actually be.

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Speaker 3: So I think when you know why you're saving what

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Speaker 3: it's for.

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Speaker 4: I've got clarity on that that can really help motivate

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Speaker 4: you and keep you going.

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Speaker 1: You mentioned here and talking about being an azara or

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Speaker 1: an age and now, yeah, why do we have these

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Speaker 1: tendencies to want to overspend? What's happening there that's in

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Speaker 1: our brain that may help us understand a little bit

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Speaker 1: more why we might be overspending for whatever your vice is.

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Speaker 4: Yeah, obviously there's so many ways to overspend, isn't there?

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Speaker 4: And particularly now, we're in a point in time that

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Speaker 4: we've never been in in history before, where you can

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Speaker 4: click a button and get the very thing you want

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Speaker 4: tomorrow or even today. Potentially that's never been the case

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Speaker 4: in the whole of the.

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Speaker 3: History of time, that's never been the case.

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Speaker 4: So we are facing challenges of immedia gratification now that

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Speaker 4: we've never had to face before in this way, and

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Speaker 4: so I think it doesn't you don't have to look

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Speaker 4: very far to see something that you want. And also

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Speaker 4: with the rise of marketing and sales and adverts, social media, yeah,

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Speaker 4: it's absolutely bombarding us. We are constantly surrounded by the

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Speaker 4: next cool thing, the next idea, the next cool gadget

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Speaker 4: that we want to get, making you feel like the

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Speaker 4: thing you've got right now isn't good enough anymore. And

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Speaker 4: it's moving at such a pace that I think overspending

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Speaker 4: is so common and so easy to fall into. And

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Speaker 4: I think, to be honest, unless you're very strict, most

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Speaker 4: of us do it. I think I do it from

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Speaker 4: time to time. I'm not perfect. I see the flights

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Speaker 4: and I think, oh, I could go and see my friend.

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Speaker 4: Don't have a plan to pay for that. But I'm

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Speaker 4: just going to do it. I'm just going to do it.

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Speaker 4: And I think we've got to be real though, And

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Speaker 4: I think one of the problems with overspending is because

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Speaker 4: it's like a it's a little bit of escapism, because

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Speaker 4: a lot of us, especially at the moment, with the

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Speaker 4: way things have been in recent years post COVID, with

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Speaker 4: cost of living crisis and really the rising cost of

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Speaker 4: living going mad many of us potentially wording or before that,

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Speaker 4: and now we're feeling in a position where we feel

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Speaker 4: a little bit trapped, and we feel a bit stuck

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Speaker 4: in that maybe in that paycheck to paycheck what I

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Speaker 4: call the doom loop, because I just think it is

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Speaker 4: a complete doom loop, and you feel, if I just

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Speaker 4: get that thing, it's going to relieve that pressure a

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Speaker 4: little bit, just for a moment. It's going to make

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Speaker 4: me feel like I'm not trapped. It's going to make

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Speaker 4: these circumstances feel a little bit better. And I think

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Speaker 4: we've got to be real about that. But also we

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Speaker 4: mustn't ignore those feelings of what you actually want. You

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Speaker 4: want to have a fun, exciting, adventurous life cool we

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Speaker 4: all do, I think, And I think one of the

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Speaker 4: things I love to help people do is before they

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Speaker 4: jump into the how and the what and the why

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Speaker 4: of money and managing money and bank accounts and saving

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Speaker 4: pots and a lot of stuff, I really love to

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Speaker 4: inspire people to stop for a second and just say

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Speaker 4: what is it you really want? What is it deep

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Speaker 4: down that your circumstances don't even allow you to think

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Speaker 4: about right now because you just think, oh, I'll never

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Speaker 4: have that. If you put it down on paper and

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Speaker 4: you get it all out, is it really that far off?

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Speaker 4: If it is, maybe that will help you make some

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Speaker 4: disc decisions to start moving in that direction. So I

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Speaker 4: think overspending can often be a little bit of a

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Speaker 4: signal to what it is going on under the bonnet

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Speaker 4: and actually what you really want to be doing and

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Speaker 4: having in your life.

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Speaker 1: Oh, hearing you say that, just talking about the deep

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Speaker 1: down what you really want and writing it out, because

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Speaker 1: I think the biggest thing with finances in general is

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Speaker 1: we do feel like we want to have everything and

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Speaker 1: we want to have this life. You have this juxtaposition

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Speaker 1: of I want to do and live my life, but

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Speaker 1: also I understand and I need to save and protect

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Speaker 1: myself for the future or for emergency circumstances. We have

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Speaker 1: that constantly going on, this internal conflict. When we talk

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Speaker 1: about two mistakes, what are some mistakes that you're seeing

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Speaker 1: people often make, especially in the beginning stages of financial

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Speaker 1: decisions or learning to save or invest.

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Speaker 4: Yeah, I think if we go really practical for a second.

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Speaker 4: This is such a quick fix, but it really works.

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Speaker 4: Is especially with saving. I think we tend to think

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Speaker 4: I used to do this, like literally all through my twenties.

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Speaker 1: It is bad.

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Speaker 4: You basically get your income come in and then you go, Okay,

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Speaker 4: I'm going to spend what I need to spend, and

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Speaker 4: I'm going to be really good this month.

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Speaker 3: Honestly, I'm going to be so good, and then I'm

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Speaker 3: going to save what's left at the end.

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Speaker 4: And I think, right there is one of the biggest

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Speaker 4: savings mistakes because there's this thing Parkinson's law.

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Speaker 3: You may have heard of Parkinson's law, where it was

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Speaker 3: about the.

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Speaker 4: Time it takes to do a task it will expand

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Speaker 4: to the time you give it.

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Speaker 3: There's a derivative of that.

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Speaker 4: For finance, which kind of goes along the lines of

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Speaker 4: whatever money is available to you to spend, your spending

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Speaker 4: will increase until it's all gone.

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Speaker 3: That's just how it goes.

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Speaker 4: So if you think to yourself, I'm going to be

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Speaker 4: really good with my money this month, and I'm just

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Speaker 4: going to spend really carefully, and then by the end

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Speaker 4: of the month, I'm just going to save that bit

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Speaker 4: what's actually going to happen is you're just going to

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Speaker 4: spend more and then you're going to get to the

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Speaker 4: end of the month and there's not going to be

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Speaker 4: anything left, and that is me. If I don't plan

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Speaker 4: for that, that is me, and I'm sure many people

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Speaker 4: can relate.

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Speaker 3: So one of the best hacks.

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Speaker 4: It sounds so it's simple and so it's almost silly,

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Speaker 4: but it's just put your money aside first as soon

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Speaker 4: as you get paid. If you've planned to save, what

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Speaker 4: is that amount, automate it to go out of sight

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Speaker 4: into another account before you start spending for the month.

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Speaker 4: Just that act alone of putting it out of sight,

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Speaker 4: out of the way before you're spending starts. It's just

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Speaker 4: night and day. It's just such a different approach, but

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Speaker 4: it works. And then when you look at the number

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Speaker 4: in your account, you're living off that amount, you're not

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Speaker 4: living off the total amount, and that'll just help you

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Speaker 4: as you go for your months. Just paste it out

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Speaker 4: a bit more and work within your means having already saved.

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Speaker 4: And also just a side note, spending is way more

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Speaker 4: fun when you've already saved because you're not standing in

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Speaker 4: the shop going, oh, I'm not I should be saving

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Speaker 4: by it. I don't, just I really want that thing.

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Speaker 4: You're like, I've saved, We're good, Let's spend happy days.

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Speaker 4: This is my spending money, so I think it is

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Speaker 4: a nicer way to go through the month.

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Speaker 3: Anyway.

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Speaker 1: They're saying things that my dad has hounded into me

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Speaker 1: since I was a kid.

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Speaker 2: He was like, pay.

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Speaker 1: Yourself first on yes, and this is what I saw

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Speaker 1: on your social media too. I was like, yeah, she

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Speaker 1: gets it, like you you do this first and you

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Speaker 1: can take care of the rest later.

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Speaker 2: And something too that he really honed into me very

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Speaker 2: early on, which he wishes he did.

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Speaker 1: We were a circumstance of their mistakes and the things

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Speaker 1: they wish they did, and for him, he wishes he.

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Speaker 2: Invested in his four oh one K sooner.

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Speaker 1: And so he said, really early on, as soon as

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Speaker 1: you feel comfortable and you feel like you're not surviving

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Speaker 1: paycheck to paycheck, I want you to take a little

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Speaker 1: bit out at a time and put it into your

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Speaker 1: four A one K.

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Speaker 2: Don't even think about it, just have it automatically go.

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Speaker 1: In there and it'll be put away for a later

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Speaker 1: use one day and you'll be really glad you did it,

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Speaker 1: and so I've been doing that since maybe I was

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Speaker 1: twenty five, and it was just a little at first,

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Speaker 1: I think maybe ten dollars a month.

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Speaker 2: It was not anything, but it was.

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Speaker 1: Something enough to make me feel okay. I'm contributing. Why

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Speaker 1: is that oral one key so important? Because it's really

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Speaker 1: easy to think like future times, don't worry about it.

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Speaker 4: It is so easy to think like that. I still

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Speaker 4: do that now, and I'm getting closer to that bit.

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Speaker 4: I'm much older than are you starting at that age.

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Speaker 4: I wish i'd started that young and I had to

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Speaker 4: play catch up, and I'm still playing catch up because

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Speaker 4: I didn't start young, and it's frustrating.

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Speaker 3: So I wish the same as your dad.

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Speaker 4: I wish people got this early and just did it

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Speaker 4: as like you say, exactly like that. A small amount

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Speaker 4: to start with, doesn't have to be a lot, but

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Speaker 4: it just gets the habit going. And then as you

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Speaker 4: hopefully as things increase, your income increases, as you get older,

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Speaker 4: you can increase the percentage perhaps that you're saving each

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Speaker 4: month and putting into investments. The important thing, the thing

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Speaker 4: it all comes down to, and it's not This is

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Speaker 4: why it's so important to start young. It's all based

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Speaker 4: on compound interest. Very boring sounding, but there's this magical

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Speaker 4: force going on behind investing that makes it all work,

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Speaker 4: and it's compound interest. It's a bit of math that

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Speaker 4: without it, the whole thing falls down. The idea is

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Speaker 4: you're earning on your earning, so you're getting a return

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Speaker 4: on your investments, but then you're getting a return on

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Speaker 4: that return as well, So instead of having a sort

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Speaker 4: of straight line increase, it's a curve upwards. So the

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Speaker 4: longer it goes, the more the growth happens. So there's

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Speaker 4: crazy status I'm going to I'm not going to quote

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Speaker 4: them exactly because I don't want to get them wrong.

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Speaker 4: But Warren Buffett, for example, the majority of his wealth

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Speaker 4: he created after he was about sixty eight I think

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Speaker 4: it was, and then from that point it's just absolutely

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Speaker 4: rocketed upwards. So he became a millionaire quite young. But

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Speaker 4: then his wealth was increasing, but there was a moment

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Speaker 4: where it just hipped, and it's compound interest. It's a

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Speaker 4: classic example of compound interest. So I think the younger

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Speaker 4: you can start, even if you're starting with a little bit,

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Speaker 4: the longer you've got for your money to compound, and

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Speaker 4: it really does make a difference. If you've got a

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Speaker 4: spare moment and you want to geek out on this,

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Speaker 4: you can go to the calculator site. There's loads of

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Speaker 4: different calculators online, calculators like dot com or something like that.

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Speaker 4: They've got a compound interest calculator.

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Speaker 3: And I think to.

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Speaker 4: Visualize it, I wish I could flash up a graph

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Speaker 4: right now. But to visualize, if I put in let's say,

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Speaker 4: like your example, ten pounds or ten dollars a month

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Speaker 4: for ten years, what does it do? And if so,

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Speaker 4: let's say you've got a return of let's say eight

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Speaker 4: percent or something, what does it do? Okay, well twenty Now,

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Speaker 4: let's look at thirty, let's look at forty. And when

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Speaker 4: you can visualize the difference, that's quite motivating. So I

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Speaker 4: always recommend people have a little looking to play around

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Speaker 4: with that whose even though it's quite geeky, it's worth doing.

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Speaker 2: You talk about motivating.

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Speaker 1: I had started, I don't know if you guys have

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Speaker 1: Robin Hood over there, it's an investment app.

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Speaker 3: All the stuff.

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Speaker 2: Yeah, yeah, So I had started playing around on that.

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Speaker 2: When I finally got to the point where I was like, okay, uncomfortable,

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Speaker 2: Maybe I'll try a little investing. I have no idea

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Speaker 2: what I'm doing.

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Speaker 1: You're looking at someone who has zero experience, zero knowledge

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Speaker 1: of the stock market. But I said, I'm going to

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Speaker 1: just start buying some stocks of things that I use

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Speaker 1: and I love because I know I'm using and loving them,

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Speaker 1: which means there's probably other people that are.

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Speaker 2: So that's what we started with. I think I bought like.

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Speaker 1: Apple and Disney and all these different kind of just

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Speaker 1: things that I use every day meta and I was

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Speaker 1: buying stocks in them, and I was having so much fun.

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Speaker 2: I was not playing with a lot of money, but

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Speaker 2: I was having so much fun being like, oh, I

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Speaker 2: made five dollars today.

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Speaker 1: Now I know the stock market is like very volatile

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Speaker 1: and that goes up and down, but the days when

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Speaker 1: it would be up, I'd get so excited watching that

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Speaker 1: experience happen and seeing something happen with my money that

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Speaker 1: I didn't do anything. This I just put into an

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Speaker 1: app was really fun. So totally understand that motivating factor.

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Speaker 1: And I do want you to speak on the investing

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Speaker 1: because I, like I said, I am so not an expert,

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Speaker 1: but you have the expertise to tell us, like what

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Speaker 1: investments might be right for us, especially starting and as

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Speaker 1: we start to grow.

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Speaker 4: Yeah, even you saying that I have some expertise, I

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Speaker 4: am not a financial advisor. I'm a financial educator. So

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Speaker 4: I just to put it out there. I'm not going

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Speaker 4: to tell you exactly what to invest in with your money.

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Speaker 4: That only a financial advisor can do that. But that's

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Speaker 4: the point, really, is that you don't need to have

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Speaker 4: You don't need to dedicate your whole life to understanding

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Speaker 4: stocks and shares and the ups and downs of the

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Speaker 4: market to really benefit from investing. And I think my

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Speaker 4: biggest tip would be don't. It's a bit of a

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Speaker 4: vortex investing. You can get sucked in by all the

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Speaker 4: information that's there and the different theories and different ways

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Speaker 4: of investing, different asset classes you can invest in, and

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Speaker 4: everyone's got an opinion, but you really need to almost

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Speaker 4: learn quite quickly to drown out the noise and just

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Speaker 4: look at what is a sensible long term strategy For

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Speaker 4: someone like me who's not going to spend ten hours

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Speaker 4: a day watching the stock market going up and down.

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Speaker 3: I'm not going to do that. I've got things i

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Speaker 3: want to do with my life, So I.

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Speaker 4: Think just to go just to be okay with picking

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Speaker 4: sort of broad market index funds, those kinds of things

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Speaker 4: that are capturing lots and lots of different companies, rather

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Speaker 4: than even with picking your stocks. Even in that example,

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Speaker 4: I think investing in what you're interested in is a

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Speaker 4: nice idea. But I think at the same time, if

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Speaker 4: something happened to Apple and you've got only Apple stock

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Speaker 4: and maybe two others, it's quite a risky play because

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Speaker 4: we don't know the inner workings of Apple, right We

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Speaker 4: don't know what conversations are happening right now behind closed doors.

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Speaker 4: There might be some big scandal about to come out tomorrow.

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Speaker 4: Let's hope not, but that can happen, and it has

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Speaker 4: happened in the past. And you have to remember that

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Speaker 4: if all your eggs in one are in one basket,

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Speaker 4: that is quite a risky play. So you want to

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Speaker 4: look at what are less risky strategies but will still

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Speaker 4: get me some potentially good returns on my money, because

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Speaker 4: you still want your money to grow, right, So I

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Speaker 4: think taking that approach where you're not just putting all

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Speaker 4: your eggs in one basket is a really good move.

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Speaker 4: There's very simple boring that you can put your money

441
00:20:02,119 --> 00:20:05,800
Speaker 4: into that are not like all singing, all dancing, very exciting.

442
00:20:06,040 --> 00:20:09,959
Speaker 4: They just follow different markets that are doing well and

443
00:20:10,000 --> 00:20:12,600
Speaker 4: the best companies in those markets. And that's a less

444
00:20:12,680 --> 00:20:16,680
Speaker 4: riskier approach than sort of trying to work it all

445
00:20:16,680 --> 00:20:17,440
Speaker 4: out for yourself.

446
00:20:18,080 --> 00:20:21,040
Speaker 1: Yes, the funds are super important to you when you

447
00:20:21,520 --> 00:20:22,640
Speaker 1: look at different funds.

448
00:20:22,680 --> 00:20:25,280
Speaker 2: Can you give us a few examples, just because.

449
00:20:25,000 --> 00:20:27,119
Speaker 1: I know, like for me, when I started learning so

450
00:20:27,200 --> 00:20:29,640
Speaker 1: much about this, I had I had no knowledge of anything.

451
00:20:29,760 --> 00:20:32,159
Speaker 1: So some maybe some basic ideas of what those funds

452
00:20:32,160 --> 00:20:32,639
Speaker 1: may look like.

453
00:20:33,119 --> 00:20:36,800
Speaker 4: Sure, I think you can look at different geographies so

454
00:20:36,840 --> 00:20:39,760
Speaker 4: you can go so say, for example, you would you

455
00:20:39,760 --> 00:20:41,880
Speaker 4: were like, I want to invest in US. Okay, there's

456
00:20:41,920 --> 00:20:44,280
Speaker 4: some great companies in the US. Let's be honest, let's

457
00:20:44,280 --> 00:20:47,000
Speaker 4: see if we can capture some of those. So you've

458
00:20:47,040 --> 00:20:48,760
Speaker 4: got the one that everyone talks about is S and

459
00:20:48,760 --> 00:20:53,800
Speaker 4: P five hundred, which is just tracking five hundred amazing

460
00:20:53,880 --> 00:20:56,520
Speaker 4: companies in the US that are doing very well. That's

461
00:20:56,560 --> 00:20:59,680
Speaker 4: all it's doing. It's just following those five hundred companies.

462
00:21:00,320 --> 00:21:02,600
Speaker 4: So that's a really interesting one. That's one that everyone

463
00:21:02,680 --> 00:21:05,720
Speaker 4: normally quotes when they talk about index funds. But there's

464
00:21:05,760 --> 00:21:09,080
Speaker 4: other ones like that around the world. There's an equivalent

465
00:21:09,119 --> 00:21:11,840
Speaker 4: in the UK, and then you can get worldwide funds

466
00:21:11,880 --> 00:21:14,800
Speaker 4: as well. But the thing to do, I think, would

467
00:21:14,840 --> 00:21:19,119
Speaker 4: be to find an investing platform that has got a

468
00:21:19,400 --> 00:21:24,120
Speaker 4: very high emphasis on education and handholding you through the process.

469
00:21:24,640 --> 00:21:26,600
Speaker 4: I don't want to speak to specific platforms because it

470
00:21:26,640 --> 00:21:30,280
Speaker 4: won't apply in different geographies. But in the UK we've

471
00:21:30,320 --> 00:21:33,439
Speaker 4: got some great platforms now that aren't just dishing you

472
00:21:33,560 --> 00:21:37,439
Speaker 4: up funds. There's going Okay, here's a few video tutorials

473
00:21:37,480 --> 00:21:40,760
Speaker 4: on what this is and what you might be investing

474
00:21:40,760 --> 00:21:42,439
Speaker 4: in if you invest in this, and hey, are you

475
00:21:42,520 --> 00:21:45,240
Speaker 4: interested in potentially impact funds that are doing good in

476
00:21:45,240 --> 00:21:47,439
Speaker 4: the world. Okay, let's talk to you about that. And

477
00:21:47,520 --> 00:21:50,200
Speaker 4: I think I would just really encourage people to do

478
00:21:51,200 --> 00:21:53,640
Speaker 4: just do a bit of rabbit hole. Just go down

479
00:21:53,640 --> 00:21:57,520
Speaker 4: a rabbit hole and learn, but do it with repuatable source,

480
00:21:57,680 --> 00:22:01,360
Speaker 4: like a decent investing platform, where they are educating you,

481
00:22:01,440 --> 00:22:03,960
Speaker 4: the handholding you, they're telling you about the risk levels

482
00:22:03,960 --> 00:22:07,240
Speaker 4: with each different fund. And yeah, I think that's a

483
00:22:07,280 --> 00:22:07,840
Speaker 4: good route to go.

484
00:22:10,800 --> 00:22:13,680
Speaker 2: Oh that's super helpful. I wish again it's living.

485
00:22:13,760 --> 00:22:16,400
Speaker 1: You learn, like you start to understand things a little

486
00:22:16,400 --> 00:22:18,880
Speaker 1: bit more, and I wish that's something even I had

487
00:22:18,960 --> 00:22:21,160
Speaker 1: as I was starting to dip my toes in this

488
00:22:21,760 --> 00:22:25,080
Speaker 1: very shark eating world where I had zero experience when

489
00:22:25,119 --> 00:22:29,480
Speaker 1: I was doing on this kind of flip side of investing.

490
00:22:30,440 --> 00:22:31,760
Speaker 2: We also have debt.

491
00:22:31,920 --> 00:22:35,000
Speaker 1: There are so many people out there that carry debt unfortunately,

492
00:22:35,600 --> 00:22:39,760
Speaker 1: and it's something that I feel like holds this storm

493
00:22:39,800 --> 00:22:44,400
Speaker 1: cloud for people over their head. What are some tips

494
00:22:44,520 --> 00:22:48,679
Speaker 1: or resources maybe that help for you when you're working

495
00:22:48,720 --> 00:22:50,960
Speaker 1: with people and they have debt but they want to

496
00:22:50,960 --> 00:22:52,520
Speaker 1: get out of debt and they want to be on

497
00:22:52,560 --> 00:22:54,400
Speaker 1: their way to savings or investing.

498
00:22:55,040 --> 00:22:56,399
Speaker 3: Yeah, really good question.

499
00:22:57,520 --> 00:22:57,840
Speaker 6: It is.

500
00:22:58,080 --> 00:23:02,240
Speaker 4: It's very down cloud is a very good metaphor for

501
00:23:03,040 --> 00:23:06,560
Speaker 4: what it feels like with debt, and I think and

502
00:23:06,600 --> 00:23:08,720
Speaker 4: the way that it can grow and accumulate as well

503
00:23:08,840 --> 00:23:11,920
Speaker 4: is pretty scary. And I think, let's mind ourselves again

504
00:23:12,040 --> 00:23:14,280
Speaker 4: that we are in a really strange point in time

505
00:23:14,520 --> 00:23:17,320
Speaker 4: where again you can just put anything on buy now,

506
00:23:17,359 --> 00:23:19,880
Speaker 4: pay later, Just click that button, don't worry about paying

507
00:23:19,880 --> 00:23:22,240
Speaker 4: for it today, just pay for it tomorrow. It's fine,

508
00:23:22,680 --> 00:23:25,919
Speaker 4: so easy to take on debt now. So just to

509
00:23:26,000 --> 00:23:29,040
Speaker 4: get in that position is very easy. And not to

510
00:23:29,080 --> 00:23:31,600
Speaker 4: mention all the big things that have happened in the

511
00:23:31,680 --> 00:23:34,920
Speaker 4: last few years that have just thrown curveballs at us

512
00:23:34,960 --> 00:23:35,680
Speaker 4: one after.

513
00:23:35,480 --> 00:23:39,119
Speaker 3: The other in life globally. So there's a lot of that.

514
00:23:39,280 --> 00:23:42,400
Speaker 4: But I think somebody who is wanting to get out

515
00:23:42,400 --> 00:23:44,080
Speaker 4: of debt, I think the first thing to say would

516
00:23:44,160 --> 00:23:48,760
Speaker 4: just be like, huge, well done, excellent move. Having that

517
00:23:48,960 --> 00:23:53,399
Speaker 4: shift from I'm going to just have it there sitting

518
00:23:53,480 --> 00:23:56,000
Speaker 4: there growing to I'm going to do something about this

519
00:23:56,119 --> 00:23:58,080
Speaker 4: now and I'm going to get out of this situation

520
00:23:58,359 --> 00:24:02,280
Speaker 4: is incredibly brave. Takes effort, and it takes courage, and

521
00:24:02,320 --> 00:24:04,240
Speaker 4: I think you need to know that's.

522
00:24:04,080 --> 00:24:04,840
Speaker 3: A great decision.

523
00:24:04,880 --> 00:24:07,360
Speaker 4: That is a great decision to tackle it, to face it,

524
00:24:07,560 --> 00:24:10,080
Speaker 4: to battle with it, to get out of it is

525
00:24:10,160 --> 00:24:12,760
Speaker 4: a great thing to do. I think another thing that

526
00:24:12,760 --> 00:24:15,840
Speaker 4: I often say to people, which I think still is

527
00:24:15,880 --> 00:24:21,680
Speaker 4: relatively unknown, is there's so many free resources and people

528
00:24:22,640 --> 00:24:25,760
Speaker 4: that will give you their time for free to help

529
00:24:25,800 --> 00:24:28,359
Speaker 4: you know what steps to take. So if we're talking

530
00:24:28,400 --> 00:24:31,080
Speaker 4: significant amounts of debt and you're in a position where

531
00:24:31,080 --> 00:24:34,240
Speaker 4: it's difficult to pay your bills, you're in a tight spot.

532
00:24:35,119 --> 00:24:40,439
Speaker 4: There are so many amazing charities, resources organizations around the

533
00:24:40,480 --> 00:24:43,480
Speaker 4: world that will help you for free. So the whole idea,

534
00:24:43,480 --> 00:24:44,879
Speaker 4: if you have to do this on your own, you

535
00:24:45,000 --> 00:24:47,200
Speaker 4: got yourself in this situation. It's your job to get

536
00:24:47,200 --> 00:24:50,320
Speaker 4: yourself out. That's not necessarily true. I think to be

537
00:24:50,359 --> 00:24:52,520
Speaker 4: able to walk it through with somebody is a really

538
00:24:52,520 --> 00:24:55,120
Speaker 4: good move, and there are plenty of places that will

539
00:24:55,160 --> 00:24:57,959
Speaker 4: do that without charging you anything for their time and

540
00:24:58,040 --> 00:25:02,560
Speaker 4: expertise as well. Coming back to what we started with saving,

541
00:25:03,160 --> 00:25:06,440
Speaker 4: one of the best I think motivators for getting out

542
00:25:06,480 --> 00:25:11,280
Speaker 4: there is having that clear goal and that target and setting.

543
00:25:10,880 --> 00:25:13,760
Speaker 3: Yourselves if you can breaking it down.

544
00:25:13,640 --> 00:25:17,639
Speaker 4: Into from now to completely cleared, what are the steps

545
00:25:17,680 --> 00:25:21,240
Speaker 4: I'm going to take, and ticking them off as you go.

546
00:25:21,359 --> 00:25:23,200
Speaker 4: So a lot of people have their sort of charts

547
00:25:23,200 --> 00:25:25,439
Speaker 4: they put on the wall. They might have an app

548
00:25:25,480 --> 00:25:27,399
Speaker 4: that kind of reminds them of how are they're doing.

549
00:25:27,520 --> 00:25:31,480
Speaker 4: They're seeing that number come down. That's so good because

550
00:25:31,640 --> 00:25:33,840
Speaker 4: that's just a good thing to do anyway. With saving

551
00:25:33,880 --> 00:25:37,480
Speaker 4: these goals, with investing goals, with business goals, anything, and

552
00:25:37,520 --> 00:25:39,600
Speaker 4: I think that is a really great motivator. It's just saying,

553
00:25:39,640 --> 00:25:41,880
Speaker 4: if I was to pay that much per month by

554
00:25:41,920 --> 00:25:44,600
Speaker 4: this date, I'm going to be debt free. And you

555
00:25:44,960 --> 00:25:47,640
Speaker 4: do everything you can to stick to that to pay

556
00:25:47,640 --> 00:25:50,200
Speaker 4: it down quicker if you can. Very motivating, and that's

557
00:25:50,240 --> 00:25:52,000
Speaker 4: worked really well for a lot of people.

558
00:25:53,440 --> 00:25:56,200
Speaker 1: Because you just brought savings back up, it reminded me

559
00:25:56,280 --> 00:25:58,280
Speaker 1: that I also wanted to talk a little bit more

560
00:25:58,320 --> 00:26:02,560
Speaker 1: in detail about the dip into savings because we also.

561
00:26:02,560 --> 00:26:04,720
Speaker 2: A lot of us love to do this. I love

562
00:26:04,800 --> 00:26:05,119
Speaker 2: to do it.

563
00:26:05,160 --> 00:26:07,800
Speaker 1: I'll be like, I have savings, I can go on

564
00:26:07,840 --> 00:26:09,760
Speaker 1: that trip. It's there, I have the money.

565
00:26:10,480 --> 00:26:15,159
Speaker 2: So how do we make sure we don't keep doing that?

566
00:26:15,480 --> 00:26:18,239
Speaker 1: Especially in this situation too, when maybe you do have

567
00:26:18,240 --> 00:26:20,639
Speaker 1: somebody who's in debt and they're trying to save, or

568
00:26:20,680 --> 00:26:22,320
Speaker 1: you just have somebody in general that's trying to save

569
00:26:22,359 --> 00:26:24,639
Speaker 1: for an emergency fund, how do we make sure we

570
00:26:24,880 --> 00:26:27,960
Speaker 1: just don't touch the savings.

571
00:26:28,680 --> 00:26:32,479
Speaker 4: It's great, Yeah, I can relate to that. Okay, I

572
00:26:32,520 --> 00:26:35,680
Speaker 4: think step number one is what is that saving there for?

573
00:26:36,000 --> 00:26:38,080
Speaker 4: What is it doing for you? So coming back to

574
00:26:38,080 --> 00:26:40,160
Speaker 4: that giving it a reason to be there, I think

575
00:26:40,280 --> 00:26:42,840
Speaker 4: many of us grow up with we don't have a lot.

576
00:26:42,600 --> 00:26:44,760
Speaker 3: Of financial education.

577
00:26:45,040 --> 00:26:47,919
Speaker 4: We don't, but one thing we do know is we

578
00:26:47,960 --> 00:26:51,239
Speaker 4: should be saving like we have this kind of at

579
00:26:51,240 --> 00:26:52,920
Speaker 4: the back of our mind, there's a little voice going,

580
00:26:53,119 --> 00:26:55,040
Speaker 4: you should be saving, you should be saving, you know

581
00:26:55,200 --> 00:26:57,520
Speaker 4: what you should be saving. And so you're out and

582
00:26:57,560 --> 00:26:58,879
Speaker 4: about and you're trying to spend your money and you're

583
00:26:58,880 --> 00:27:00,840
Speaker 4: just thinking, I should be saving. But no one ever

584
00:27:00,840 --> 00:27:03,520
Speaker 4: really tells what to save for. They never really break

585
00:27:03,560 --> 00:27:05,879
Speaker 4: it down and say, Okay, this is this type of saving,

586
00:27:05,920 --> 00:27:06,879
Speaker 4: there's this type of saving.

587
00:27:06,880 --> 00:27:07,840
Speaker 3: There's that type of saving.

588
00:27:08,119 --> 00:27:10,439
Speaker 4: And I think, when I got clarity and what is

589
00:27:10,440 --> 00:27:12,280
Speaker 4: it I actually need to have in my bank account

590
00:27:12,320 --> 00:27:15,560
Speaker 4: for my current lifestyle right now to make sense and

591
00:27:15,600 --> 00:27:17,520
Speaker 4: then to move on to other things. And I got

592
00:27:17,600 --> 00:27:20,560
Speaker 4: those numbers, I was like, oh, greatly, just give me

593
00:27:20,640 --> 00:27:22,760
Speaker 4: a bunch of targets to hit. I'll do that and

594
00:27:22,800 --> 00:27:25,439
Speaker 4: then I can move on to the other things. So

595
00:27:25,520 --> 00:27:29,000
Speaker 4: I think one of those so taking that time to

596
00:27:29,160 --> 00:27:32,520
Speaker 4: stop and go, okay, yes, I've got a savings pot,

597
00:27:32,600 --> 00:27:33,640
Speaker 4: but why is it there?

598
00:27:33,760 --> 00:27:34,440
Speaker 3: What's it for?

599
00:27:34,760 --> 00:27:36,320
Speaker 4: So the ones you really want to think about is

600
00:27:36,440 --> 00:27:40,000
Speaker 4: your emergency fund, which is your three to six months buffer.

601
00:27:40,400 --> 00:27:43,280
Speaker 3: You build up this kind of lump sum of cash

602
00:27:43,400 --> 00:27:43,840
Speaker 3: so if.

603
00:27:43,680 --> 00:27:47,560
Speaker 4: Anything happens to your income, if anything awful comes your way,

604
00:27:47,600 --> 00:27:50,400
Speaker 4: let's hope it never does, but it can happen. You've

605
00:27:50,400 --> 00:27:53,280
Speaker 4: got three to six months worth of living expenses and

606
00:27:53,320 --> 00:27:54,600
Speaker 4: not all the fun stuff as well.

607
00:27:54,640 --> 00:27:55,640
Speaker 3: Just what does it cost you.

608
00:27:55,640 --> 00:27:59,000
Speaker 4: To live in a month that's saved up and ready

609
00:27:59,000 --> 00:28:01,320
Speaker 4: to go if anything happens and you suddenly need to

610
00:28:01,359 --> 00:28:04,040
Speaker 4: pay out tomorrow. Now, you want to keep that out

611
00:28:04,040 --> 00:28:06,760
Speaker 4: of sight because that needs to be there when the

612
00:28:06,920 --> 00:28:09,720
Speaker 4: time comes if you have an emergency. So I think

613
00:28:09,800 --> 00:28:12,680
Speaker 4: so personally, Mary and my husband, we've built up ours

614
00:28:12,840 --> 00:28:17,400
Speaker 4: and we transferred it recently into another account. I set

615
00:28:17,480 --> 00:28:19,720
Speaker 4: up a whole different account. It's got better interest rates,

616
00:28:19,720 --> 00:28:21,320
Speaker 4: so I can make a little bit of money on

617
00:28:21,359 --> 00:28:24,560
Speaker 4: that money. But also it's very hard for me to

618
00:28:24,600 --> 00:28:26,840
Speaker 4: log in because I can't remember my log in details.

619
00:28:27,240 --> 00:28:30,640
Speaker 4: Very You've got that three step process to go to

620
00:28:30,680 --> 00:28:31,520
Speaker 4: just to even.

621
00:28:31,280 --> 00:28:33,320
Speaker 3: See what's in there at the moment. And I logged

622
00:28:33,320 --> 00:28:34,760
Speaker 3: in the other day and I was like, why can

623
00:28:34,840 --> 00:28:35,840
Speaker 3: I not log in here?

624
00:28:36,280 --> 00:28:39,360
Speaker 4: And it's all good, it's just great security, But that

625
00:28:39,480 --> 00:28:42,000
Speaker 4: process of having to actually go and find out how

626
00:28:42,040 --> 00:28:44,560
Speaker 4: to log in is really helpful because it stops me

627
00:28:44,680 --> 00:28:45,960
Speaker 4: just being able to quickly.

628
00:28:45,640 --> 00:28:47,880
Speaker 3: Transfer money out. Really good thing to do.

629
00:28:48,600 --> 00:28:51,840
Speaker 4: Then you've got your what I call smug savings, but

630
00:28:51,880 --> 00:28:54,760
Speaker 4: other people call them sort of sinking funds as well.

631
00:28:55,120 --> 00:28:55,960
Speaker 3: It's another term.

632
00:28:56,320 --> 00:28:59,440
Speaker 4: I call them smug savings because I love this idea

633
00:28:59,800 --> 00:29:01,760
Speaker 4: of Firstly, I don't really know what's sick, Like, what's

634
00:29:01,800 --> 00:29:02,840
Speaker 4: sinking in that scenario?

635
00:29:02,880 --> 00:29:04,160
Speaker 3: Is ship? Is it a boat?

636
00:29:04,280 --> 00:29:06,640
Speaker 4: I don't really have never really resonated with that term.

637
00:29:07,000 --> 00:29:08,920
Speaker 4: So I call them smug savings because what are the

638
00:29:08,920 --> 00:29:11,960
Speaker 4: things in your life that you know if that expense

639
00:29:12,040 --> 00:29:15,280
Speaker 4: came in you'd feel so smug if you had a

640
00:29:15,320 --> 00:29:17,040
Speaker 4: pot of cash sitting there ready to go.

641
00:29:17,200 --> 00:29:17,840
Speaker 3: For that thing.

642
00:29:18,400 --> 00:29:19,400
Speaker 2: Oh I love this term.

643
00:29:20,000 --> 00:29:23,160
Speaker 4: Yeah, it just makes more sense to me. So, Maddin,

644
00:29:23,640 --> 00:29:26,080
Speaker 4: Christmas is coming up. If you celebrate Christmas, you're making

645
00:29:26,080 --> 00:29:28,080
Speaker 4: me a bit of a spending time of year. You

646
00:29:28,120 --> 00:29:31,320
Speaker 4: get to the first of December and you look at

647
00:29:31,320 --> 00:29:33,160
Speaker 4: your accounts and you've got a pot in there in

648
00:29:33,160 --> 00:29:37,040
Speaker 4: your bank called Christmas ready to go for the whole

649
00:29:37,080 --> 00:29:38,600
Speaker 4: of December to go enjoy yourself.

650
00:29:38,760 --> 00:29:40,160
Speaker 3: You're going to feel so good.

651
00:29:40,280 --> 00:29:43,280
Speaker 4: You're gonna be like, yes, go me, I'm so good

652
00:29:43,280 --> 00:29:46,560
Speaker 4: at this money stuff. So I think taking a step

653
00:29:46,600 --> 00:29:48,959
Speaker 4: back and looking at your life as a whole, what

654
00:29:49,000 --> 00:29:51,320
Speaker 4: are your big expenses are too big for one month

655
00:29:51,800 --> 00:29:54,400
Speaker 4: that you really should be putting money aside towards every

656
00:29:54,480 --> 00:29:57,560
Speaker 4: month to fund those little pots to make sure whenever

657
00:29:57,560 --> 00:29:58,400
Speaker 4: that expense.

658
00:29:58,080 --> 00:29:59,400
Speaker 3: Comes in, you've got money ready to go.

659
00:30:00,560 --> 00:30:03,400
Speaker 4: Outside of those two things, there are are some other

660
00:30:03,440 --> 00:30:05,320
Speaker 4: things like saving for a house to posit, and maybe

661
00:30:05,320 --> 00:30:08,320
Speaker 4: a big expense like a car. But really, once you

662
00:30:08,440 --> 00:30:11,200
Speaker 4: funded those things for your life and for what your

663
00:30:11,280 --> 00:30:14,280
Speaker 4: numbers are, that's when you can go cool, I've done it. Now,

664
00:30:14,280 --> 00:30:16,080
Speaker 4: I can move on to the other stuff, and I

665
00:30:16,080 --> 00:30:18,600
Speaker 4: could put my money elsewhere. So I think knowing what

666
00:30:18,640 --> 00:30:21,120
Speaker 4: the things are for helps you to not dip into

667
00:30:21,160 --> 00:30:24,560
Speaker 4: them and helps you to have that separation between them,

668
00:30:24,880 --> 00:30:26,760
Speaker 4: so it's not just one big giant pot of money

669
00:30:26,800 --> 00:30:29,160
Speaker 4: that's fair game for any cool thing that might come

670
00:30:29,240 --> 00:30:29,960
Speaker 4: up in your life.

671
00:30:30,560 --> 00:30:32,959
Speaker 1: This is the part where my mom comes in, and

672
00:30:33,040 --> 00:30:35,480
Speaker 1: she was really big on when I started saving, and

673
00:30:35,560 --> 00:30:39,080
Speaker 1: she said, I need you to have specific, different categories,

674
00:30:39,160 --> 00:30:41,880
Speaker 1: because that's going to help you understand what you're saving for,

675
00:30:42,320 --> 00:30:44,800
Speaker 1: what it looks like, and at the end of the day,

676
00:30:44,840 --> 00:30:48,240
Speaker 1: why you're putting it in there. And when I adapted

677
00:30:48,240 --> 00:30:50,600
Speaker 1: my dog she goes time to add another emergency fund.

678
00:30:50,680 --> 00:30:52,480
Speaker 1: You need to have something ready in case something were

679
00:30:52,560 --> 00:30:55,400
Speaker 1: to happen, And it did really help me just to

680
00:30:55,440 --> 00:30:58,720
Speaker 1: have categories of things, especially in the beginning. Now I've

681
00:30:58,760 --> 00:31:01,280
Speaker 1: gotten it's such a habit and it's just I'm so.

682
00:31:01,400 --> 00:31:02,800
Speaker 2: Trained in the brain to do it.

683
00:31:03,200 --> 00:31:07,000
Speaker 1: But in the beginning it helped me as very young

684
00:31:07,600 --> 00:31:10,280
Speaker 1: twenty something girl who had no idea what I was doing.

685
00:31:10,320 --> 00:31:13,320
Speaker 1: It just categorized things so much easier and made it

686
00:31:13,360 --> 00:31:17,480
Speaker 1: seem very real versus just money going to a different account.

687
00:31:17,880 --> 00:31:21,400
Speaker 4: Absolutely, yeah, I think the more you can map that

688
00:31:21,440 --> 00:31:24,360
Speaker 4: out for yourself early on, the better. And like you say,

689
00:31:24,400 --> 00:31:26,280
Speaker 4: what a wise women to tell you don't just get

690
00:31:26,360 --> 00:31:29,440
Speaker 4: the dog planned for the dog financially because they dogs

691
00:31:29,440 --> 00:31:32,360
Speaker 4: are expensive, aren't they? And I think that's wise, that's

692
00:31:32,400 --> 00:31:35,480
Speaker 4: good wisdom of using your money well so that you

693
00:31:35,520 --> 00:31:37,200
Speaker 4: don't end up in a spot where you're having to

694
00:31:37,240 --> 00:31:39,760
Speaker 4: dip into some other savings because you never planned for it.

695
00:31:40,080 --> 00:31:41,480
Speaker 4: But I do think that the whole idea of just

696
00:31:41,520 --> 00:31:44,520
Speaker 4: mapping it out for yourself it seems again a silly.

697
00:31:44,240 --> 00:31:45,000
Speaker 3: Thing to do do.

698
00:31:45,040 --> 00:31:48,640
Speaker 4: I meaned to do that, Yeah, you do, because life's complicated,

699
00:31:48,720 --> 00:31:51,920
Speaker 4: and I find as I'm getting older, I've got three children.

700
00:31:52,720 --> 00:31:56,920
Speaker 3: As they're getting older, more variables. Every day, it seems

701
00:31:57,000 --> 00:31:57,600
Speaker 3: more things.

702
00:31:57,680 --> 00:32:01,000
Speaker 4: I'm like, what how else do I need to put

703
00:32:01,000 --> 00:32:03,440
Speaker 4: on my budget? I had this lovely moment last night

704
00:32:03,480 --> 00:32:05,800
Speaker 4: that made me chuckle. So in the UK, we have

705
00:32:05,880 --> 00:32:09,280
Speaker 4: this banking system called Monzo. It's like a I think

706
00:32:09,320 --> 00:32:10,840
Speaker 4: it's in the US, but I think it's early Days

707
00:32:10,840 --> 00:32:12,920
Speaker 4: in the US, which basically just allows you to split

708
00:32:12,960 --> 00:32:14,880
Speaker 4: your money in your bank account into different pots, so

709
00:32:14,920 --> 00:32:18,080
Speaker 4: you can physically move your money into pots inside one account.

710
00:32:18,120 --> 00:32:20,560
Speaker 2: So it's not which is amazing, it's incredible.

711
00:32:20,600 --> 00:32:24,640
Speaker 3: It's literally an absolute game changer. So we've got this.

712
00:32:24,760 --> 00:32:27,880
Speaker 4: So I teach about these pot systems a lot because

713
00:32:27,880 --> 00:32:29,280
Speaker 4: for me it was one of the things that took

714
00:32:29,320 --> 00:32:31,520
Speaker 4: me from somebody who wasn't saving to somebody who's good

715
00:32:31,520 --> 00:32:34,479
Speaker 4: at saving. So it really changed things for me. Anyway,

716
00:32:34,720 --> 00:32:36,720
Speaker 4: me Mys, we were sitting there doing our budget last night.

717
00:32:36,880 --> 00:32:39,680
Speaker 4: We were we've just moved, we've moved to London. We've

718
00:32:39,800 --> 00:32:41,720
Speaker 4: changed a lot in the last year, so we're constantly

719
00:32:41,760 --> 00:32:43,720
Speaker 4: reviewing it at the moment, which is it's not the

720
00:32:43,760 --> 00:32:44,880
Speaker 4: funniest job in the world, is it.

721
00:32:44,880 --> 00:32:46,400
Speaker 3: You'd rather be watching TV? In the evening.

722
00:32:46,760 --> 00:32:49,120
Speaker 4: Anyway, We're sitting there and then he just goes So

723
00:32:49,280 --> 00:32:50,880
Speaker 4: we joke about how many pots I got, and I

724
00:32:50,880 --> 00:32:53,800
Speaker 4: think at the time counted it was about sixteen or

725
00:32:53,840 --> 00:32:56,000
Speaker 4: seventeen different pots, different categories.

726
00:32:56,160 --> 00:32:58,960
Speaker 1: So wasn't it not though, just the great example of

727
00:32:59,000 --> 00:33:01,720
Speaker 1: a mom like that, if anything that details it.

728
00:33:02,600 --> 00:33:05,000
Speaker 4: Yeah, And he was sitting there last night doing the

729
00:33:05,000 --> 00:33:08,600
Speaker 4: automations for next month and he just hit the button.

730
00:33:08,720 --> 00:33:11,600
Speaker 4: It was like, you've exceeded the maximum amount of pots.

731
00:33:11,600 --> 00:33:14,360
Speaker 4: And I was like, yeah, that sounds about right. That

732
00:33:14,480 --> 00:33:17,840
Speaker 4: sounds about my life right now. So I was like, oh,

733
00:33:17,880 --> 00:33:19,720
Speaker 4: can you screenshot that because I feel like I need

734
00:33:19,760 --> 00:33:21,680
Speaker 4: to share that on socials because that's too good.

735
00:33:21,720 --> 00:33:23,120
Speaker 3: But I've watunate it was gone.

736
00:33:23,400 --> 00:33:23,640
Speaker 5: Yeah.

737
00:33:23,680 --> 00:33:25,320
Speaker 4: So I think the more the Mary I map out

738
00:33:25,320 --> 00:33:29,840
Speaker 4: your life, look at your situation. And remember personal finance

739
00:33:29,920 --> 00:33:30,959
Speaker 4: is called personal finance.

740
00:33:31,000 --> 00:33:33,320
Speaker 3: It's personal to you. Doesn't need to.

741
00:33:33,320 --> 00:33:35,479
Speaker 4: Look like somebody else down the road. It doesn't need

742
00:33:35,520 --> 00:33:37,680
Speaker 4: to look like how your best friend's doing it. What

743
00:33:38,320 --> 00:33:40,840
Speaker 4: do you need to make your life work? What do

744
00:33:40,880 --> 00:33:43,720
Speaker 4: you need to have in your emergency fund? Based on

745
00:33:43,920 --> 00:33:46,520
Speaker 4: your lifestyle? So make it personal.

746
00:33:47,600 --> 00:33:49,760
Speaker 1: There's one thing I want to end down here because

747
00:33:49,760 --> 00:33:54,400
Speaker 1: you're giving such great advice and just educationally, this is

748
00:33:54,520 --> 00:33:57,560
Speaker 1: something that I just so wish that I had in

749
00:33:57,600 --> 00:33:59,720
Speaker 1: my teens, even in high school. I wish it would

750
00:33:59,720 --> 00:34:01,840
Speaker 1: have been in it as a seed. I want to

751
00:34:01,920 --> 00:34:05,360
Speaker 1: end on this one. When we look at buying things,

752
00:34:05,640 --> 00:34:08,320
Speaker 1: what you talked about big purchase, its house, its cars,

753
00:34:08,400 --> 00:34:11,080
Speaker 1: getting a dog. What are some things that are a

754
00:34:11,239 --> 00:34:14,640
Speaker 1: very smart investment, like as far as personally to do

755
00:34:15,480 --> 00:34:18,520
Speaker 1: versus looking at this is probably something that might drag

756
00:34:18,600 --> 00:34:21,520
Speaker 1: you down the later. Maybe it's more credit cards, but

757
00:34:21,520 --> 00:34:24,520
Speaker 1: it could be any number of things. Yeah, when you're

758
00:34:24,560 --> 00:34:27,040
Speaker 1: talking to people, what are those kind of two things

759
00:34:27,160 --> 00:34:28,280
Speaker 1: on that side of things?

760
00:34:29,880 --> 00:34:31,520
Speaker 3: Oh, such a good question.

761
00:34:32,280 --> 00:34:37,680
Speaker 4: I think make sure you understand the difference between assets

762
00:34:37,680 --> 00:34:41,000
Speaker 4: and liabilities. And I don't know many of your audiences

763
00:34:41,040 --> 00:34:44,680
Speaker 4: probably read the book Rich Dad, Poor dab By Robert Kiyosaki,

764
00:34:45,200 --> 00:34:48,120
Speaker 4: excellent book, but he really introduced that whole concept to

765
00:34:48,200 --> 00:34:53,120
Speaker 4: me of assets and liabilities and just understanding that one

766
00:34:53,600 --> 00:34:56,840
Speaker 4: concept alone can massively change.

767
00:34:56,600 --> 00:34:57,880
Speaker 3: The way you spend your money.

768
00:34:58,440 --> 00:35:00,480
Speaker 4: So, in terms of what you've talked about ragging you

769
00:35:00,520 --> 00:35:02,719
Speaker 4: down in the future, what a great way to put it,

770
00:35:02,840 --> 00:35:05,840
Speaker 4: because that's the job of a liability, and liability is

771
00:35:05,840 --> 00:35:09,040
Speaker 4: something that you buy that then costs you money to

772
00:35:09,120 --> 00:35:12,160
Speaker 4: have it. So I hate to say it, but even

773
00:35:12,200 --> 00:35:14,400
Speaker 4: a dog like sounds awful, But like.

774
00:35:14,360 --> 00:35:15,360
Speaker 3: Dogs cost money.

775
00:35:15,840 --> 00:35:17,880
Speaker 4: Your dog's not going to make you money unless you

776
00:35:17,960 --> 00:35:20,799
Speaker 4: make them on Instagram dogs Superstar and then you start

777
00:35:20,840 --> 00:35:24,040
Speaker 4: making money that way. But that's okay. Doesn't mean they're wrong.

778
00:35:24,080 --> 00:35:25,640
Speaker 3: It's not bad to have a Dog's great to have

779
00:35:25,680 --> 00:35:26,160
Speaker 3: a dog.

780
00:35:26,440 --> 00:35:29,839
Speaker 4: But it's just understanding that is going to be something

781
00:35:29,840 --> 00:35:31,760
Speaker 4: that costs you money later on down the line.

782
00:35:32,120 --> 00:35:33,160
Speaker 3: And I think being.

783
00:35:33,000 --> 00:35:35,479
Speaker 4: Real about that and having a strategy and a plan

784
00:35:35,520 --> 00:35:37,440
Speaker 4: for that if that's what you want to do, because

785
00:35:37,480 --> 00:35:40,360
Speaker 4: we can't we can't just say liabilities are bad.

786
00:35:40,480 --> 00:35:42,399
Speaker 3: Anything that costs money is bad. We need to live

787
00:35:42,440 --> 00:35:44,080
Speaker 3: super frugal lives and be miserable.

788
00:35:44,239 --> 00:35:47,200
Speaker 4: That's not the goal here. But I think just understanding

789
00:35:47,680 --> 00:35:49,560
Speaker 4: how many things in your life have you got that

790
00:35:49,680 --> 00:35:53,000
Speaker 4: fall under a liability category. Have you got an expensive

791
00:35:53,080 --> 00:35:55,399
Speaker 4: car that's costing you lots and lots of money each month?

792
00:35:56,000 --> 00:35:57,920
Speaker 4: If you're thinking about buying a car in the future,

793
00:35:58,480 --> 00:35:59,719
Speaker 4: how do you want to go about that? Do you

794
00:35:59,760 --> 00:36:01,200
Speaker 4: want to do it in a way that's going to

795
00:36:01,360 --> 00:36:04,440
Speaker 4: have a massive monthly expense that if something happens to

796
00:36:04,480 --> 00:36:06,440
Speaker 4: your income later on, that's going to be a real burden.

797
00:36:07,000 --> 00:36:10,680
Speaker 4: There's just a lot of just understanding that liability categories

798
00:36:10,800 --> 00:36:13,360
Speaker 4: really helpful. And then on the flip side, you've got assets,

799
00:36:13,400 --> 00:36:16,200
Speaker 4: which are things that you can buy that do make

800
00:36:16,239 --> 00:36:19,840
Speaker 4: you money and actually adds to your income. So liabilities

801
00:36:19,960 --> 00:36:22,839
Speaker 4: again not wrong. If you've got to just how much

802
00:36:22,880 --> 00:36:24,960
Speaker 4: that's going to cost you to keep them and have them,

803
00:36:25,000 --> 00:36:28,919
Speaker 4: can you actually afford that? And then assets super cool

804
00:36:29,080 --> 00:36:32,560
Speaker 4: because go for it. Get your assets going because they

805
00:36:32,600 --> 00:36:34,279
Speaker 4: actually add to your income, and then you've got more

806
00:36:34,360 --> 00:36:37,279
Speaker 4: room each month and your budget to use and do

807
00:36:37,400 --> 00:36:40,000
Speaker 4: what you want to do with that money. So assets

808
00:36:40,040 --> 00:36:42,960
Speaker 4: would be things like investing in a property that you

809
00:36:43,000 --> 00:36:44,680
Speaker 4: can rent out. It would be things like we talked

810
00:36:44,680 --> 00:36:47,759
Speaker 4: about investing investing in a business so that you can

811
00:36:47,800 --> 00:36:49,799
Speaker 4: actually one day make an income from that business, but

812
00:36:49,840 --> 00:36:53,360
Speaker 4: potentially dividends from that business. All kinds of different ways

813
00:36:53,440 --> 00:36:56,799
Speaker 4: of creating assets. But I don't think we really talk

814
00:36:56,920 --> 00:36:59,359
Speaker 4: enough about assets and how to create assets other than

815
00:36:59,400 --> 00:37:02,280
Speaker 4: thinking about your one stream of income. Much is your job,

816
00:37:02,640 --> 00:37:04,880
Speaker 4: and then you've got your liability. So I think learning

817
00:37:04,920 --> 00:37:07,520
Speaker 4: about assets understanding them is a really good thing to.

818
00:37:07,480 --> 00:37:07,959
Speaker 3: Do as well.

819
00:37:08,680 --> 00:37:11,279
Speaker 1: Oh you just made that sound so beautifully and just

820
00:37:11,360 --> 00:37:13,440
Speaker 1: so helpful and the most basic of terms.

821
00:37:13,480 --> 00:37:16,279
Speaker 2: So I appreciate you for that because it's again, those

822
00:37:16,280 --> 00:37:17,080
Speaker 2: aren't even terms.

823
00:37:17,200 --> 00:37:19,640
Speaker 1: I learned when I bought my house that this was

824
00:37:19,680 --> 00:37:22,399
Speaker 1: an asset and this would be helpful versus me for

825
00:37:22,480 --> 00:37:25,799
Speaker 1: five years pain rent that went no place at all.

826
00:37:26,200 --> 00:37:28,880
Speaker 1: So I learned as I got older, and it's something

827
00:37:28,880 --> 00:37:30,520
Speaker 1: that I'm continuing to learn.

828
00:37:30,560 --> 00:37:31,840
Speaker 2: But just hearing you talk.

829
00:37:31,640 --> 00:37:33,719
Speaker 1: About it, I think it's going to be super beneficial

830
00:37:33,719 --> 00:37:35,279
Speaker 1: for a lot of people. And I thank you for

831
00:37:35,320 --> 00:37:37,719
Speaker 1: being here, Thanks for talking with me and sharing so

832
00:37:37,840 --> 00:37:41,759
Speaker 1: much of just your knowledge on wealth and understanding, and

833
00:37:41,880 --> 00:37:42,960
Speaker 1: I really appreciate it.

834
00:37:43,360 --> 00:37:44,160
Speaker 3: Thanks having me.

835
00:37:52,320 --> 00:37:54,040
Speaker 2: Right now. I have on Daniel Brigham.

836
00:37:54,160 --> 00:37:57,200
Speaker 1: I saw a lot of Daniel's content online sharing his

837
00:37:57,280 --> 00:38:00,040
Speaker 1: story his relationship to money, and so I wanted to

838
00:38:00,080 --> 00:38:03,080
Speaker 1: bring them on to talk about some of those experiences. So, Hi, Daniel,

839
00:38:03,120 --> 00:38:04,399
Speaker 1: how are you? Thanks for being here?

840
00:38:04,960 --> 00:38:07,080
Speaker 5: Yeah, thanks for having me on. How you doing.

841
00:38:07,640 --> 00:38:08,200
Speaker 2: I'm good.

842
00:38:08,320 --> 00:38:10,319
Speaker 1: We were both talking about how we didn't get much sleep,

843
00:38:10,400 --> 00:38:13,000
Speaker 1: so we might be a little delusional during this episode,

844
00:38:13,040 --> 00:38:13,600
Speaker 1: but that's okay.

845
00:38:13,719 --> 00:38:15,239
Speaker 5: Those are the make it more interesting.

846
00:38:15,640 --> 00:38:16,680
Speaker 2: It definitely will.

847
00:38:17,320 --> 00:38:20,000
Speaker 1: I want to kick things off by having you share

848
00:38:20,239 --> 00:38:24,560
Speaker 1: your story of how you grew up, how you had

849
00:38:24,600 --> 00:38:27,040
Speaker 1: some drug and alcohol problems that also related to some

850
00:38:27,120 --> 00:38:31,040
Speaker 1: of the financial problems, and how your dad getting sick

851
00:38:31,120 --> 00:38:32,800
Speaker 1: led you to also making some changes.

852
00:38:32,880 --> 00:38:35,680
Speaker 2: So if you are up for it, that's where we're

853
00:38:35,680 --> 00:38:36,320
Speaker 2: going to start.

854
00:38:36,640 --> 00:38:38,439
Speaker 5: Let's do it. What a good way to wake up.

855
00:38:40,040 --> 00:38:42,560
Speaker 6: I grew up in a super small town in Vermont,

856
00:38:42,560 --> 00:38:46,320
Speaker 6: which I'm incredibly grateful for. I think it's really shaped

857
00:38:46,320 --> 00:38:49,680
Speaker 6: who I am. But one of the things that was

858
00:38:49,719 --> 00:38:52,520
Speaker 6: part of that as I grew up with a single

859
00:38:52,560 --> 00:38:55,719
Speaker 6: mom in a trailer and a really small town that

860
00:38:56,600 --> 00:38:59,520
Speaker 6: wasn't like a poor town. There's actually a lot of

861
00:38:59,560 --> 00:39:02,319
Speaker 6: people there money, and so my whole life I just

862
00:39:02,360 --> 00:39:06,160
Speaker 6: felt a little bit discouraged by our financial situation and

863
00:39:06,560 --> 00:39:08,600
Speaker 6: always thought why did we have to be the ones

864
00:39:08,880 --> 00:39:12,200
Speaker 6: with no money? And so as a result, as I

865
00:39:12,239 --> 00:39:15,840
Speaker 6: got older and went to college, I was oftentimes trying

866
00:39:15,880 --> 00:39:20,800
Speaker 6: to overcompensate for the fact that I didn't want people

867
00:39:20,840 --> 00:39:22,640
Speaker 6: to think that about me. I wanted people to think

868
00:39:22,640 --> 00:39:25,320
Speaker 6: that I had money, and I actually became more obsessed

869
00:39:25,360 --> 00:39:28,560
Speaker 6: with people perceiving that I had money even if I

870
00:39:28,640 --> 00:39:32,120
Speaker 6: was completely broke. Then people to think that I didn't

871
00:39:32,160 --> 00:39:34,680
Speaker 6: have money and maybe actually start saving money over time.

872
00:39:34,719 --> 00:39:37,279
Speaker 6: That led to a lot of bad spending decisions, a

873
00:39:37,360 --> 00:39:39,240
Speaker 6: lot of bad decisions with my budget.

874
00:39:39,440 --> 00:39:41,680
Speaker 5: And it wasn't that's funny.

875
00:39:41,680 --> 00:39:43,759
Speaker 6: I had like around one hundred thousand dollars in debt,

876
00:39:44,760 --> 00:39:47,040
Speaker 6: and it wasn't until like you just brought up my dad.

877
00:39:47,040 --> 00:39:48,920
Speaker 6: It wasn't until my dad got sick and I realized

878
00:39:48,920 --> 00:39:51,120
Speaker 6: I had no money to go and see him. My

879
00:39:51,239 --> 00:39:53,400
Speaker 6: parents didn't, Neither of them had no money. My dad

880
00:39:54,160 --> 00:39:56,160
Speaker 6: never had a job for more than six months kind

881
00:39:56,160 --> 00:39:58,879
Speaker 6: of guy. And so I really had to figure out

882
00:39:58,880 --> 00:39:59,960
Speaker 6: a way if I wanted to be able to go

883
00:40:00,120 --> 00:40:03,320
Speaker 6: see him before he passed away, to scrap up some money.

884
00:40:03,480 --> 00:40:06,759
Speaker 5: And it was a big awakening to just thinking that

885
00:40:06,800 --> 00:40:07,160
Speaker 5: I had.

886
00:40:07,040 --> 00:40:08,799
Speaker 6: A good job, that I was doing all the right

887
00:40:08,840 --> 00:40:10,920
Speaker 6: things because I was told to go to college and

888
00:40:10,960 --> 00:40:13,560
Speaker 6: just get a good job, to realize actually I was

889
00:40:13,600 --> 00:40:15,640
Speaker 6: being a complete boso with my finances.

890
00:40:17,400 --> 00:40:22,520
Speaker 1: I'm curious, did you have to kill your relationship with

891
00:40:22,600 --> 00:40:27,120
Speaker 1: yourself of what you experienced growing up before you could

892
00:40:27,160 --> 00:40:30,360
Speaker 1: start to look at finances and change that relationship or

893
00:40:30,360 --> 00:40:32,239
Speaker 1: did it all happen at the same time.

894
00:40:32,840 --> 00:40:37,160
Speaker 6: So it actually that stuff happened later on as I

895
00:40:37,200 --> 00:40:41,440
Speaker 6: was going through that journey. So because when my dad

896
00:40:41,480 --> 00:40:44,520
Speaker 6: got sick and I realized I had no money, I also,

897
00:40:44,719 --> 00:40:48,120
Speaker 6: when I made a budget, realized that I was going

898
00:40:48,160 --> 00:40:50,799
Speaker 6: further into debt every single month and that I wasn't

899
00:40:50,840 --> 00:40:52,240
Speaker 6: going to be able to even pay for my rent.

900
00:40:52,840 --> 00:40:55,120
Speaker 6: So the reaction that I had in that moment was

901
00:40:55,200 --> 00:40:56,200
Speaker 6: more fear based.

902
00:40:56,880 --> 00:40:57,799
Speaker 5: And there's a good.

903
00:40:57,760 --> 00:41:00,799
Speaker 6: Thing that came out of that where I it really

904
00:41:00,800 --> 00:41:03,640
Speaker 6: forced me to get better. But I never was actually

905
00:41:03,680 --> 00:41:08,439
Speaker 6: processing any of my trauma that I had growing up

906
00:41:08,719 --> 00:41:12,240
Speaker 6: with money and finances, and it wasn't until I became

907
00:41:12,480 --> 00:41:16,080
Speaker 6: more stable where my wife used to buy these go

908
00:41:16,200 --> 00:41:20,600
Speaker 6: Macro bars and they're like three dollars, and I would

909
00:41:20,600 --> 00:41:23,759
Speaker 6: have these knee jerk reactions once she came back with one,

910
00:41:23,840 --> 00:41:26,799
Speaker 6: because I had this trauma around We're gonna run out

911
00:41:26,840 --> 00:41:28,880
Speaker 6: of money, We're not gonna be able to pay rent,

912
00:41:29,360 --> 00:41:32,880
Speaker 6: all these things that are just completely ridiculous. But it

913
00:41:32,960 --> 00:41:35,239
Speaker 6: just really triggered me when I felt like we were

914
00:41:35,239 --> 00:41:37,480
Speaker 6: spending things that weren't part of the budget, and that's

915
00:41:37,480 --> 00:41:40,719
Speaker 6: when I decided to be like, Okay, I'm clearly this

916
00:41:40,760 --> 00:41:42,800
Speaker 6: is causing problems in my life. I should go figure

917
00:41:42,840 --> 00:41:47,120
Speaker 6: this out. But that was years after all those events.

918
00:41:47,719 --> 00:41:48,200
Speaker 2: Wow.

919
00:41:48,280 --> 00:41:51,879
Speaker 1: So really the starting to budget and change your relationship

920
00:41:51,920 --> 00:41:55,840
Speaker 1: with money really came at that heels of really wanting

921
00:41:55,840 --> 00:42:00,240
Speaker 1: to see your dad and then shifted and you're just like, Okay,

922
00:42:00,280 --> 00:42:02,280
Speaker 1: this makes more sense for me to go down this path.

923
00:42:03,280 --> 00:42:06,759
Speaker 5: Yeah, pretty much. So it was a combination like that.

924
00:42:06,800 --> 00:42:10,680
Speaker 6: My dad was the catalyst to making the budget, cause

925
00:42:10,719 --> 00:42:13,360
Speaker 6: it I was confused. I at the time, I was

926
00:42:13,400 --> 00:42:17,120
Speaker 6: working in tech sales, which I think if most people

927
00:42:17,160 --> 00:42:19,160
Speaker 6: heard that, they say, oh, you make good money doing that.

928
00:42:19,239 --> 00:42:22,000
Speaker 6: And I was making fifty grand a year at the time,

929
00:42:22,080 --> 00:42:24,480
Speaker 6: which to me felt like it was good money. But

930
00:42:25,080 --> 00:42:27,080
Speaker 6: obviously people are aware of the economy. It's not like

931
00:42:27,120 --> 00:42:31,000
Speaker 6: I was rich or anything. But by going through and

932
00:42:31,000 --> 00:42:32,880
Speaker 6: being like, Okay, why can't I afford to go and

933
00:42:33,239 --> 00:42:37,560
Speaker 6: pay for a flight from Austin to Philadelphia that didn't

934
00:42:37,560 --> 00:42:38,759
Speaker 6: make a lot of sense to me, And so when

935
00:42:38,800 --> 00:42:43,000
Speaker 6: I made the budget, it just really exposed how irresponsible

936
00:42:43,000 --> 00:42:45,480
Speaker 6: I was being and how that was going to lead

937
00:42:45,520 --> 00:42:48,920
Speaker 6: to me basically coming to a point where either I

938
00:42:48,920 --> 00:42:51,359
Speaker 6: could choose to pay rent or I could keep, you know,

939
00:42:51,440 --> 00:42:55,680
Speaker 6: going out and doing drugs and alcohol and partying and

940
00:42:56,360 --> 00:42:58,800
Speaker 6: being flashy with the little bit of money that I had.

941
00:42:59,200 --> 00:43:04,320
Speaker 6: So my dad wasn't necessarily the motivator. I wish I

942
00:43:04,320 --> 00:43:06,640
Speaker 6: could say that he was the motivator to get better

943
00:43:06,680 --> 00:43:09,560
Speaker 6: with my finances, but it really was just rooted in fear,

944
00:43:10,200 --> 00:43:12,839
Speaker 6: which I think, unfortunately, if you think about the stick

945
00:43:12,920 --> 00:43:16,040
Speaker 6: versus the carrot, we all tend to be more motivated by.

946
00:43:16,040 --> 00:43:19,200
Speaker 5: The stick, unfortunately, than we are by the carrot.

947
00:43:20,080 --> 00:43:22,640
Speaker 2: Yeah. Were you ever at a moment.

948
00:43:23,840 --> 00:43:27,000
Speaker 1: During all of this that you got so far into

949
00:43:27,040 --> 00:43:29,399
Speaker 1: a hole and you were like, how do I get

950
00:43:29,400 --> 00:43:29,919
Speaker 1: out of this?

951
00:43:30,880 --> 00:43:33,560
Speaker 5: Yeah? Yeah, That's how I felt immediately. At the time.

952
00:43:33,600 --> 00:43:35,080
Speaker 6: I didn't even think that I was going to be

953
00:43:35,120 --> 00:43:36,879
Speaker 6: able to get rid of all my debt. I had

954
00:43:36,880 --> 00:43:40,200
Speaker 6: a personal loan with a really high interest rate, and

955
00:43:40,280 --> 00:43:42,319
Speaker 6: I told myself, if I could get rid of that

956
00:43:42,480 --> 00:43:45,359
Speaker 6: at least, then I could maybe go back to being

957
00:43:45,360 --> 00:43:50,040
Speaker 6: an idiot, and I could manage the car payment, and

958
00:43:50,080 --> 00:43:52,440
Speaker 6: I could manage my student loans, and I could manage

959
00:43:52,440 --> 00:43:54,319
Speaker 6: the credit card. But if I got rid of that

960
00:43:54,360 --> 00:43:57,280
Speaker 6: personal loan, it would make a big impact. And so

961
00:43:57,800 --> 00:43:59,879
Speaker 6: I did some just really wild things, like I sold

962
00:43:59,920 --> 00:44:00,960
Speaker 6: my blood plasma.

963
00:44:01,320 --> 00:44:03,120
Speaker 5: I just started working every single day.

964
00:44:03,840 --> 00:44:07,000
Speaker 6: I signed up for Rover, I signed up for this

965
00:44:07,080 --> 00:44:10,200
Speaker 6: brand Besti's thing, which is like brand ambassador work, like

966
00:44:10,239 --> 00:44:12,919
Speaker 6: I just was looking for. If I could work twenty

967
00:44:12,960 --> 00:44:14,560
Speaker 6: four hours a day, I would have at the time.

968
00:44:15,560 --> 00:44:19,359
Speaker 6: And then as I started doing that, the good thing

969
00:44:19,400 --> 00:44:22,200
Speaker 6: is when you're working, you're not spending money. So it

970
00:44:22,320 --> 00:44:25,000
Speaker 6: slowed down my ability to go spend money. But it

971
00:44:25,080 --> 00:44:27,880
Speaker 6: just made me think, man, I'm doing all this effort

972
00:44:28,160 --> 00:44:31,839
Speaker 6: to make this money. Maybe I don't want to buy

973
00:44:31,840 --> 00:44:34,279
Speaker 6: that thing. So it was a slow build where it

974
00:44:34,320 --> 00:44:37,720
Speaker 6: made me just appreciate the hard work that I was doing,

975
00:44:38,200 --> 00:44:40,960
Speaker 6: and so then I just didn't want to spend my money.

976
00:44:41,080 --> 00:44:43,600
Speaker 6: And then when I paid off that loan, that was

977
00:44:43,640 --> 00:44:45,960
Speaker 6: when I started to think, Okay, maybe I could actually

978
00:44:45,960 --> 00:44:48,520
Speaker 6: pay off my credit card too, and maybe I actually

979
00:44:48,520 --> 00:44:52,000
Speaker 6: don't need this car, right, And so I actually swapped

980
00:44:52,040 --> 00:44:55,520
Speaker 6: it out for a soccer mom ban, and slowly but

981
00:44:55,600 --> 00:44:58,040
Speaker 6: surely it was like, Okay, maybe I don't need these

982
00:44:58,080 --> 00:45:01,520
Speaker 6: fancy clothes. Maybe I actually can just thrift something, or

983
00:45:01,800 --> 00:45:03,279
Speaker 6: maybe I don't need to go out to eat all

984
00:45:03,280 --> 00:45:03,600
Speaker 6: the time.

985
00:45:03,680 --> 00:45:05,359
Speaker 5: Maybe I can actually just make my own.

986
00:45:05,880 --> 00:45:08,120
Speaker 6: Like I used to make this chicken stew and spend

987
00:45:08,360 --> 00:45:10,480
Speaker 6: twenty five bucks a week on groceries and I just

988
00:45:10,520 --> 00:45:12,680
Speaker 6: eat nothing but chicken stew. So I did a lot

989
00:45:12,719 --> 00:45:15,680
Speaker 6: of weird things, but it was all rooted in the

990
00:45:15,680 --> 00:45:19,040
Speaker 6: fact that I just started to appreciate my dollar more

991
00:45:19,040 --> 00:45:20,400
Speaker 6: because I was working so hard.

992
00:45:21,480 --> 00:45:24,719
Speaker 1: Yeah, and that's a hard lesson to learn, especially what

993
00:45:24,760 --> 00:45:26,759
Speaker 1: you talked about how you grew up in that way.

994
00:45:26,840 --> 00:45:29,480
Speaker 2: You were never taught those things.

995
00:45:29,520 --> 00:45:31,279
Speaker 1: You had to learn them on your own and have

996
00:45:31,360 --> 00:45:34,359
Speaker 1: those personal experiences, which.

997
00:45:34,280 --> 00:45:37,000
Speaker 2: I think a lot of people can relate to, because.

998
00:45:38,280 --> 00:45:41,000
Speaker 1: Everybody has a different relationship with money and it's all

999
00:45:41,080 --> 00:45:42,440
Speaker 1: rooted in how we grew up and what.

1000
00:45:42,400 --> 00:45:43,160
Speaker 2: We were taught.

1001
00:45:43,680 --> 00:45:46,200
Speaker 1: So can you expand on that a little bit more

1002
00:45:46,239 --> 00:45:50,640
Speaker 1: like your experience and your emotions that you would feel,

1003
00:45:50,760 --> 00:45:53,319
Speaker 1: especially looking back on your life and you're like, why

1004
00:45:53,360 --> 00:45:56,880
Speaker 1: didn't I get to like you mentioned, why didn't I

1005
00:45:56,960 --> 00:45:59,640
Speaker 1: get to grow up rich and not have these problems?

1006
00:46:00,040 --> 00:46:01,200
Speaker 2: What was that like for you?

1007
00:46:01,440 --> 00:46:04,359
Speaker 1: As you're finally addressing some of those things and those

1008
00:46:04,360 --> 00:46:05,320
Speaker 1: feelings you were having.

1009
00:46:06,440 --> 00:46:07,200
Speaker 5: It's interesting.

1010
00:46:07,280 --> 00:46:10,680
Speaker 6: I found that sometimes how much money your parents have

1011
00:46:10,840 --> 00:46:13,280
Speaker 6: nothing to do with the financial principles that they instill

1012
00:46:13,320 --> 00:46:15,879
Speaker 6: in you. Like sometimes people make a lot of money

1013
00:46:15,920 --> 00:46:19,439
Speaker 6: and they instill those But it's really interesting. My mom

1014
00:46:19,480 --> 00:46:23,279
Speaker 6: has a learning disability and my dad was autistic, and

1015
00:46:23,360 --> 00:46:26,400
Speaker 6: so I think for them. One of the things I

1016
00:46:26,440 --> 00:46:28,520
Speaker 6: really had to deal with as I was facing these

1017
00:46:28,560 --> 00:46:32,600
Speaker 6: things was you don't think about that. As a kid,

1018
00:46:32,640 --> 00:46:35,400
Speaker 6: You're like, oh, my parents, we aren't they like other parents.

1019
00:46:35,760 --> 00:46:39,440
Speaker 6: But as an adult I started to just really feel

1020
00:46:39,480 --> 00:46:41,680
Speaker 6: for them more and really accept them and say, you

1021
00:46:41,680 --> 00:46:45,560
Speaker 6: know what, I shouldn't have these massive expectations for them.

1022
00:46:45,560 --> 00:46:48,480
Speaker 6: They're humans, it's not that so no one told them

1023
00:46:48,680 --> 00:46:51,040
Speaker 6: taught them how to be a parent, and so really

1024
00:46:51,320 --> 00:46:54,600
Speaker 6: a big part of that for me was just accepting

1025
00:46:54,640 --> 00:46:56,960
Speaker 6: my parents for who they are and not holding this

1026
00:46:57,120 --> 00:47:00,160
Speaker 6: grudge against the things that I thought they could have

1027
00:47:00,200 --> 00:47:04,120
Speaker 6: done differently with either progressing their career or holding down

1028
00:47:04,160 --> 00:47:07,560
Speaker 6: a job or even today, my mom makes a lot

1029
00:47:07,600 --> 00:47:10,759
Speaker 6: of bad financial decisions, and it's really hard for me

1030
00:47:10,840 --> 00:47:14,319
Speaker 6: sometimes to not be able to control that because she's

1031
00:47:14,360 --> 00:47:17,280
Speaker 6: her own person and so I think a lot of

1032
00:47:17,320 --> 00:47:20,400
Speaker 6: the trauma was just really on that piece. Because I

1033
00:47:20,440 --> 00:47:22,080
Speaker 6: want to have a good relationship with my mom and

1034
00:47:22,080 --> 00:47:23,760
Speaker 6: I want to have a good relationship with my parents.

1035
00:47:23,760 --> 00:47:27,799
Speaker 6: But if I'm like resenting them for things that are

1036
00:47:27,840 --> 00:47:29,880
Speaker 6: really not their fault but maybe they should have taught me,

1037
00:47:29,960 --> 00:47:33,560
Speaker 6: that's probably not fair for them. But I think your

1038
00:47:33,640 --> 00:47:37,839
Speaker 6: question was more maybe like reacting to other people around me,

1039
00:47:38,760 --> 00:47:42,320
Speaker 6: and that part I still do struggle with a lot.

1040
00:47:42,600 --> 00:47:44,719
Speaker 6: If I'm just being honest with it's really hard to

1041
00:47:46,320 --> 00:47:48,839
Speaker 6: not have imposter syndrome. You know, my wife and I

1042
00:47:48,920 --> 00:47:53,360
Speaker 6: now are coming up on being millionaires, and it's.

1043
00:47:53,160 --> 00:47:54,399
Speaker 5: Wild to think about that.

1044
00:47:54,840 --> 00:47:57,359
Speaker 6: But there's this voice in my head that still tells me,

1045
00:47:57,840 --> 00:48:01,440
Speaker 6: even though I've made it that far, still the person

1046
00:48:01,480 --> 00:48:05,680
Speaker 6: that was growing up poor not worthy, and that people

1047
00:48:05,760 --> 00:48:09,279
Speaker 6: who grew up with parents that had money are better

1048
00:48:09,320 --> 00:48:11,680
Speaker 6: than me, even though maybe they have a bunch of debt.

1049
00:48:12,040 --> 00:48:12,480
Speaker 5: I don't know.

1050
00:48:13,080 --> 00:48:15,040
Speaker 6: Maybe I'll eventually be able to figure that out, but

1051
00:48:15,080 --> 00:48:17,799
Speaker 6: it's still something that really is like a battle in

1052
00:48:17,840 --> 00:48:18,680
Speaker 6: my mind.

1053
00:48:19,560 --> 00:48:22,680
Speaker 2: Yeah, there's a few kind of different ways I want

1054
00:48:22,680 --> 00:48:25,680
Speaker 2: to go with this. You mentioned.

1055
00:48:26,719 --> 00:48:29,759
Speaker 1: Your wife, which I would like to talk about the

1056
00:48:30,280 --> 00:48:32,799
Speaker 1: experiences you had when you met her, especially as all

1057
00:48:32,840 --> 00:48:33,640
Speaker 1: of this is happening.

1058
00:48:34,239 --> 00:48:36,080
Speaker 2: But I also want to.

1059
00:48:36,000 --> 00:48:39,520
Speaker 1: Acknowledge that I think as an adult, it's really hard

1060
00:48:39,600 --> 00:48:43,040
Speaker 1: to come to terms with understanding that your parents were

1061
00:48:43,040 --> 00:48:45,319
Speaker 1: also kids two at one point, and they had to

1062
00:48:45,360 --> 00:48:47,920
Speaker 1: grow and they were the best way I could ever

1063
00:48:47,960 --> 00:48:51,680
Speaker 1: say when I talk to people about parents is your

1064
00:48:51,719 --> 00:48:54,200
Speaker 1: parents are also experiencing life for the first time too,

1065
00:48:54,960 --> 00:48:57,799
Speaker 1: and they do truly the best that they can with

1066
00:48:57,840 --> 00:49:02,040
Speaker 1: what tools and resources they were given. And you have

1067
00:49:02,080 --> 00:49:04,520
Speaker 1: to acknowledge that as an adult, which is a very

1068
00:49:04,560 --> 00:49:09,279
Speaker 1: delicate balance to understanding, Okay, this is somebody that I

1069
00:49:09,320 --> 00:49:11,360
Speaker 1: love and care for, but also they're their own human

1070
00:49:11,560 --> 00:49:14,359
Speaker 1: and they had all of these reasons, and I can't

1071
00:49:14,400 --> 00:49:15,480
Speaker 1: hold this against them.

1072
00:49:15,520 --> 00:49:17,920
Speaker 2: Now it's my turn to also do better.

1073
00:49:18,800 --> 00:49:21,000
Speaker 1: So I want to recognize that you mentioned that, because

1074
00:49:21,040 --> 00:49:23,840
Speaker 1: I think that's something a lot of people experience, especially

1075
00:49:23,840 --> 00:49:25,440
Speaker 1: when they get older and they look back on their

1076
00:49:25,440 --> 00:49:29,160
Speaker 1: life and they're addressing things that happened when they were kids.

1077
00:49:29,640 --> 00:49:32,080
Speaker 6: It's so tough because there's still a part of us

1078
00:49:32,120 --> 00:49:36,400
Speaker 6: that's like the teenage version of ourselves that's okay, mom, okay,

1079
00:49:36,960 --> 00:49:41,239
Speaker 6: and thinks that way and it actually I've noticed it

1080
00:49:41,239 --> 00:49:44,080
Speaker 6: more after my dad passed away, where I started to

1081
00:49:44,080 --> 00:49:47,880
Speaker 6: have more conversations because I was about twenty four or

1082
00:49:47,920 --> 00:49:50,680
Speaker 6: twenty five when he passed away, so I was really

1083
00:49:50,800 --> 00:49:54,759
Speaker 6: just becoming an adult at that phase, and he had

1084
00:49:54,760 --> 00:49:57,759
Speaker 6: been sick for a couple of years, and so I

1085
00:49:57,800 --> 00:50:00,000
Speaker 6: didn't really ever feel like I got to know him

1086
00:50:00,040 --> 00:50:04,520
Speaker 6: as an adult. And so I spent time with his

1087
00:50:05,239 --> 00:50:09,399
Speaker 6: sister and I spent time with my grandmother, just trying

1088
00:50:09,440 --> 00:50:12,320
Speaker 6: to get to know him more because I had realized

1089
00:50:12,320 --> 00:50:14,879
Speaker 6: I had developed all these perceptions of him, and as

1090
00:50:14,920 --> 00:50:16,640
Speaker 6: I was going through that journey, that's when I started

1091
00:50:16,680 --> 00:50:19,440
Speaker 6: to realize that, yeah, he was just his own person,

1092
00:50:19,480 --> 00:50:23,680
Speaker 6: with his own struggles, his own traumas, his own limitations,

1093
00:50:24,120 --> 00:50:28,560
Speaker 6: and he loved me very much, but he's an imperfect

1094
00:50:28,560 --> 00:50:29,560
Speaker 6: person like we all are.

1095
00:50:30,239 --> 00:50:32,960
Speaker 5: And it stinks that it took that for me to

1096
00:50:33,000 --> 00:50:33,719
Speaker 5: realize that.

1097
00:50:33,800 --> 00:50:35,520
Speaker 6: But now I try to when I think about my mom,

1098
00:50:35,560 --> 00:50:37,800
Speaker 6: I really try to appreciate that more.

1099
00:50:39,000 --> 00:50:41,920
Speaker 1: Yeah, and it's probably helpful with you and understanding your

1100
00:50:41,920 --> 00:50:44,040
Speaker 1: relationship with your mom too, I would imagine.

1101
00:50:44,560 --> 00:50:47,440
Speaker 2: So there was a reason for it, but it is

1102
00:50:47,480 --> 00:50:48,000
Speaker 2: also it.

1103
00:50:48,480 --> 00:50:51,000
Speaker 1: Truly is hard and you have when I say, the

1104
00:50:51,040 --> 00:50:55,040
Speaker 1: delicate balance of honoring that like you feel a certain

1105
00:50:55,040 --> 00:50:58,000
Speaker 1: way because you didn't have certain things, while also honoring

1106
00:50:58,040 --> 00:51:01,000
Speaker 1: that they were at their own and they had their

1107
00:51:01,040 --> 00:51:04,320
Speaker 1: own experiences and their living life for the first time too.

1108
00:51:04,880 --> 00:51:05,640
Speaker 2: That's really hard.

1109
00:51:05,680 --> 00:51:09,279
Speaker 1: You're experiencing multiple different emotions in that same span of

1110
00:51:09,320 --> 00:51:10,080
Speaker 1: things happening.

1111
00:51:10,719 --> 00:51:13,040
Speaker 5: Oh yeah, yeah, yeah.

1112
00:51:13,360 --> 00:51:16,600
Speaker 6: The biggest challenge that I'll cap it off with I

1113
00:51:16,680 --> 00:51:20,200
Speaker 6: think that I faced with all that was and I'm

1114
00:51:20,239 --> 00:51:23,520
Speaker 6: sure other people can relate to this, but my dad

1115
00:51:23,560 --> 00:51:26,000
Speaker 6: got sick and we hadn't talked for over two years

1116
00:51:26,080 --> 00:51:29,280
Speaker 6: because we'd gotten in this big fight, and I decided

1117
00:51:29,280 --> 00:51:32,400
Speaker 6: I didn't want a relationship with anymore, relationship with him anymore,

1118
00:51:33,360 --> 00:51:37,279
Speaker 6: And when he got sick, then I immediately had to

1119
00:51:37,320 --> 00:51:41,120
Speaker 6: throw away this grudge that we didn't ever work through, right,

1120
00:51:41,640 --> 00:51:44,400
Speaker 6: And I remember when he did pass, I was really

1121
00:51:44,560 --> 00:51:47,439
Speaker 6: struggling with I should be more sad than I am.

1122
00:51:47,640 --> 00:51:50,600
Speaker 6: But at the same time, I didn't have the traditional

1123
00:51:50,640 --> 00:51:53,960
Speaker 6: relationship with my dad, and that's always been a really

1124
00:51:54,000 --> 00:51:57,400
Speaker 6: wonky one too, because I think oftentimes we feel pressure

1125
00:51:57,400 --> 00:52:01,480
Speaker 6: from society to have a certain relationship with our parents,

1126
00:52:01,960 --> 00:52:06,240
Speaker 6: because that's like the hallmark version of it, when in reality,

1127
00:52:06,320 --> 00:52:09,960
Speaker 6: our relationships with our parents are super complex and very unique.

1128
00:52:10,840 --> 00:52:13,040
Speaker 1: Yeah, that's a great point, and I know we're talking

1129
00:52:13,320 --> 00:52:15,440
Speaker 1: finances and stuff, but I'm so glad you shared that

1130
00:52:15,480 --> 00:52:16,920
Speaker 1: because it is it's very unique.

1131
00:52:17,000 --> 00:52:19,240
Speaker 2: And just like with all things in.

1132
00:52:19,520 --> 00:52:21,840
Speaker 1: Social media, we love to compare ourselves to others in

1133
00:52:21,920 --> 00:52:25,919
Speaker 1: every single way, and seeing people have those experiences while

1134
00:52:25,960 --> 00:52:29,640
Speaker 1: you don't is difficult and when it's challenging, that's part

1135
00:52:29,640 --> 00:52:33,200
Speaker 1: of it. Now, you had also talked about your wife

1136
00:52:33,239 --> 00:52:35,760
Speaker 1: a little bit. What was it like for you because

1137
00:52:35,920 --> 00:52:39,160
Speaker 1: you did have this specific relationship to money and I

1138
00:52:39,160 --> 00:52:41,480
Speaker 1: imagine probably at the point where you were looking to

1139
00:52:41,520 --> 00:52:44,440
Speaker 1: meet a partner, you were probably pretty frugal and you

1140
00:52:44,480 --> 00:52:46,440
Speaker 1: were trying to understand what this would look like. So

1141
00:52:47,120 --> 00:52:48,880
Speaker 1: when you start looking for a partner and these all

1142
00:52:48,920 --> 00:52:50,359
Speaker 1: things have happened to you, what was that like?

1143
00:52:52,120 --> 00:52:54,879
Speaker 5: I think there's some context here.

1144
00:52:54,960 --> 00:52:57,920
Speaker 6: So for one, my skill set and when it comes

1145
00:52:57,960 --> 00:53:00,399
Speaker 6: to finances, we only need to lean into of what

1146
00:53:00,680 --> 00:53:03,560
Speaker 6: our god given talents are. And one of my biggest

1147
00:53:03,600 --> 00:53:07,200
Speaker 6: skill sets is just being able to network with people

1148
00:53:07,320 --> 00:53:11,839
Speaker 6: and create connections and be really outgoing when it comes

1149
00:53:11,840 --> 00:53:14,000
Speaker 6: to dating, it turns out that's a really good skill

1150
00:53:14,040 --> 00:53:18,640
Speaker 6: to have. So I want to put that caveat in

1151
00:53:18,680 --> 00:53:21,440
Speaker 6: there because I understand that is just going to result

1152
00:53:21,480 --> 00:53:26,279
Speaker 6: in me probably having a slightly different dating world than

1153
00:53:26,320 --> 00:53:29,480
Speaker 6: other people. But when it came to going past the

1154
00:53:29,760 --> 00:53:34,600
Speaker 6: just meeting somebody and actually developing intimacy, like letting someone

1155
00:53:34,680 --> 00:53:39,080
Speaker 6: actually into your world, I was. I actually feel like

1156
00:53:39,080 --> 00:53:42,080
Speaker 6: the reason why I let my wife more into that world,

1157
00:53:42,160 --> 00:53:45,719
Speaker 6: I was always very hesitant. My dad was sick when

1158
00:53:45,760 --> 00:53:48,720
Speaker 6: I initially met her and passed while we were getting

1159
00:53:48,719 --> 00:53:50,839
Speaker 6: to know each other still, so I was just very

1160
00:53:50,880 --> 00:53:52,440
Speaker 6: guarded at the time in general.

1161
00:53:53,040 --> 00:53:54,480
Speaker 5: But one of the reasons why I.

1162
00:53:54,520 --> 00:53:56,480
Speaker 6: Chose to let her in was because I felt like

1163
00:53:57,280 --> 00:53:59,759
Speaker 6: there were little things that I started to pick up

1164
00:53:59,760 --> 00:54:02,799
Speaker 6: on that we were aligned on, and finances was one

1165
00:54:02,840 --> 00:54:05,360
Speaker 6: of those things, and so I just felt very.

1166
00:54:05,239 --> 00:54:07,040
Speaker 5: Confident being who I was.

1167
00:54:07,760 --> 00:54:09,879
Speaker 6: I didn't feel like we needed to have the same

1168
00:54:09,960 --> 00:54:13,319
Speaker 6: financial situation by any means, but I felt like I

1169
00:54:13,320 --> 00:54:15,759
Speaker 6: could share where I was at and I wasn't going

1170
00:54:15,840 --> 00:54:19,160
Speaker 6: to be judged. And I think for anybody when it

1171
00:54:19,200 --> 00:54:21,000
Speaker 6: comes to dating, you need to be able to talk

1172
00:54:21,040 --> 00:54:25,360
Speaker 6: about those things, because finances might not even be your problem.

1173
00:54:25,400 --> 00:54:27,160
Speaker 6: But you're going to have some problem, and if you

1174
00:54:27,160 --> 00:54:29,239
Speaker 6: can't talk about that with the person that you're going

1175
00:54:29,320 --> 00:54:33,279
Speaker 6: to be the most intimate with, like what a awful relationship.

1176
00:54:33,320 --> 00:54:35,200
Speaker 6: Like that's one of the major benefits of being in

1177
00:54:35,239 --> 00:54:38,160
Speaker 6: a relationship. And so I hear a lot of men

1178
00:54:38,880 --> 00:54:42,640
Speaker 6: talk about how they want to get their financial poop together.

1179
00:54:43,160 --> 00:54:45,080
Speaker 6: They'll say, Hey, I want to get my finances together

1180
00:54:45,120 --> 00:54:46,760
Speaker 6: before I get out into the dating pool.

1181
00:54:47,680 --> 00:54:50,680
Speaker 5: And I just don't think that should be a factor.

1182
00:54:50,800 --> 00:54:54,080
Speaker 6: It'd be like sometimes I feel like it's almost an

1183
00:54:54,080 --> 00:54:57,360
Speaker 6: excuse to not commit to something, or it's an excuse

1184
00:54:57,880 --> 00:55:00,839
Speaker 6: not to get intimate with someone because it's scary and

1185
00:55:00,880 --> 00:55:03,759
Speaker 6: we've all been hurt before. We just want to keep

1186
00:55:03,800 --> 00:55:06,920
Speaker 6: our independence because we're all a little bit selfish. But

1187
00:55:07,000 --> 00:55:11,279
Speaker 6: I just think that if you're it doesn't matter where

1188
00:55:11,280 --> 00:55:14,880
Speaker 6: you are on the journey, and in fact, if you're struggling,

1189
00:55:15,680 --> 00:55:19,960
Speaker 6: having that partner is going to probably help accelerate that journey,

1190
00:55:19,960 --> 00:55:21,120
Speaker 6: because it definitely did for me.

1191
00:55:22,160 --> 00:55:23,120
Speaker 2: Yeah, for sure.

1192
00:55:23,160 --> 00:55:26,080
Speaker 1: And to your point, if you try and make sure

1193
00:55:26,120 --> 00:55:28,720
Speaker 1: everything is perfect before you find someone, before you do anything,

1194
00:55:28,800 --> 00:55:31,240
Speaker 1: before you chase a dream, before you get your finances

1195
00:55:31,280 --> 00:55:33,360
Speaker 1: in check. You're going to be waiting a long time.

1196
00:55:33,600 --> 00:55:35,640
Speaker 1: There's never going to be a perfect time to do anything.

1197
00:55:36,080 --> 00:55:39,799
Speaker 1: It's a perfect time for you that matters. And I

1198
00:55:39,960 --> 00:55:43,239
Speaker 1: like that you address that because dating and finances there's

1199
00:55:43,239 --> 00:55:46,120
Speaker 1: a lot that comes with that, and you have a lot.

1200
00:55:46,000 --> 00:55:49,040
Speaker 2: Of people who feel this need.

1201
00:55:48,680 --> 00:55:52,120
Speaker 1: To provide, especially on the men's side, where they're like,

1202
00:55:52,200 --> 00:55:53,759
Speaker 1: I need to do all these things and I need

1203
00:55:53,800 --> 00:55:54,799
Speaker 1: to have all my.

1204
00:55:54,840 --> 00:55:56,200
Speaker 2: Ducks in a row. You can have a lot of

1205
00:55:56,280 --> 00:55:57,919
Speaker 2: ducks in a row and still be good.

1206
00:55:58,000 --> 00:55:59,799
Speaker 1: You don't have to have every single thing figured out

1207
00:55:59,800 --> 00:56:03,840
Speaker 1: that part of a partnership. But to your point, it

1208
00:56:03,920 --> 00:56:06,120
Speaker 1: is what I see a lot on social media. Finances

1209
00:56:06,160 --> 00:56:08,400
Speaker 1: and guys in dating is a hot topic.

1210
00:56:09,440 --> 00:56:12,200
Speaker 6: Yeah, And then it's funny because then you have the

1211
00:56:12,239 --> 00:56:15,200
Speaker 6: guys that are really successful, right, maybe they did wait,

1212
00:56:15,719 --> 00:56:18,799
Speaker 6: but then they probably have this fear of I'm gonna

1213
00:56:18,800 --> 00:56:24,040
Speaker 6: go to the dating pool and I can't really relate

1214
00:56:24,040 --> 00:56:26,840
Speaker 6: to this because this was never me. But I imagine then

1215
00:56:26,840 --> 00:56:29,000
Speaker 6: they're thinking, was this person can actually like who I am?

1216
00:56:29,480 --> 00:56:31,239
Speaker 6: Or are they just gonna like all the things maybe

1217
00:56:31,280 --> 00:56:34,839
Speaker 6: that I can provide? And then also can I even

1218
00:56:34,880 --> 00:56:37,400
Speaker 6: be vulnerable because they only know me as this person

1219
00:56:37,440 --> 00:56:40,359
Speaker 6: who's like strong and successful, and so if I were

1220
00:56:40,360 --> 00:56:42,879
Speaker 6: to lose everything, or if I were to hit this

1221
00:56:43,239 --> 00:56:45,480
Speaker 6: rock bottom moment in my life, with that person stand

1222
00:56:45,520 --> 00:56:48,640
Speaker 6: by me. And one of the amazing parts is I

1223
00:56:48,680 --> 00:56:50,759
Speaker 6: met my wife when I was going through rock bottom.

1224
00:56:50,880 --> 00:56:52,080
Speaker 6: So I have a lot.

1225
00:56:52,000 --> 00:56:54,120
Speaker 5: Of confidence that unless I did something.

1226
00:56:53,960 --> 00:56:56,520
Speaker 6: Really stupid, but if bad things happen to me, if

1227
00:56:56,520 --> 00:56:58,800
Speaker 6: a storm came my way, I know my wife would

1228
00:56:59,120 --> 00:57:03,960
Speaker 6: stay with me. And that's really amazing security. And one

1229
00:57:03,960 --> 00:57:05,560
Speaker 6: of the reasons why I have that. I'm not saying

1230
00:57:05,600 --> 00:57:07,279
Speaker 6: the only way to go about it is to do that,

1231
00:57:07,320 --> 00:57:08,840
Speaker 6: but one of the reasons I have that is because

1232
00:57:09,000 --> 00:57:09,719
Speaker 6: I went through that.

1233
00:57:09,719 --> 00:57:10,359
Speaker 5: Journey with her.

1234
00:57:11,120 --> 00:57:13,920
Speaker 1: One of my therapists told me she always said in

1235
00:57:13,960 --> 00:57:16,880
Speaker 1: the beginning of dating, and she's like, honestly, you need

1236
00:57:16,960 --> 00:57:19,800
Speaker 1: to go through one hard moment. It doesn't really matter

1237
00:57:19,840 --> 00:57:22,520
Speaker 1: what it is, whether somebody loses a tire and they

1238
00:57:22,600 --> 00:57:24,000
Speaker 1: have to change it on the side of the road

1239
00:57:24,080 --> 00:57:27,640
Speaker 1: or some major kind of moment in somebody's life before

1240
00:57:27,680 --> 00:57:31,040
Speaker 1: you truly start knowing who that person is to truly

1241
00:57:31,080 --> 00:57:32,200
Speaker 1: say I can commit.

1242
00:57:31,960 --> 00:57:34,560
Speaker 2: To them, because you don't until you've seen.

1243
00:57:34,320 --> 00:57:37,680
Speaker 1: Someone go through something hard, you don't really know who

1244
00:57:37,680 --> 00:57:40,320
Speaker 1: that person is. And I think there's a lot of

1245
00:57:40,320 --> 00:57:42,560
Speaker 1: truth to that in what you're saying and the experiences

1246
00:57:42,600 --> 00:57:43,440
Speaker 1: you had.

1247
00:57:43,640 --> 00:57:44,720
Speaker 5: Yeah, that's so true.

1248
00:57:44,920 --> 00:57:46,680
Speaker 6: And my wife has gone through a lot of hard

1249
00:57:46,680 --> 00:57:48,560
Speaker 6: things too, So on the flip side, I've seen that

1250
00:57:48,680 --> 00:57:50,080
Speaker 6: and it's true.

1251
00:57:50,080 --> 00:57:52,840
Speaker 5: And I think vice versa.

1252
00:57:52,960 --> 00:57:55,600
Speaker 6: If your partner goes through something tough, they get to

1253
00:57:55,640 --> 00:57:57,800
Speaker 6: see how you handle it, and if you go through

1254
00:57:57,800 --> 00:58:01,080
Speaker 6: something tough, they get to see how you handle adversity.

1255
00:58:01,640 --> 00:58:04,600
Speaker 6: And I think it's both of those things are equally important.

1256
00:58:05,600 --> 00:58:08,600
Speaker 1: Yeah, and for you, when you did meet your wife,

1257
00:58:08,960 --> 00:58:11,920
Speaker 1: how did you bring up the topic of finances and

1258
00:58:11,960 --> 00:58:13,640
Speaker 1: understanding that you guys are on this level.

1259
00:58:13,400 --> 00:58:15,280
Speaker 2: Because finances are a hard thing.

1260
00:58:15,320 --> 00:58:17,760
Speaker 1: People don't love to talk about them, and it's weird

1261
00:58:17,760 --> 00:58:19,400
Speaker 1: to be like, this is how I am, this is

1262
00:58:19,440 --> 00:58:20,120
Speaker 1: how I feel.

1263
00:58:20,880 --> 00:58:22,640
Speaker 2: It may have been a little bit easier.

1264
00:58:22,280 --> 00:58:24,400
Speaker 1: For you because it's part of your story, but I'm

1265
00:58:24,440 --> 00:58:25,520
Speaker 1: curious how that went.

1266
00:58:26,560 --> 00:58:28,280
Speaker 5: Oh man, I.

1267
00:58:28,240 --> 00:58:32,560
Speaker 6: Met my wife like eight years ago, and it's so

1268
00:58:33,600 --> 00:58:35,680
Speaker 6: we met in San Francisco. I was out there visiting,

1269
00:58:36,600 --> 00:58:38,240
Speaker 6: and then.

1270
00:58:38,080 --> 00:58:41,080
Speaker 5: Afterwards we were a pen pals for a few months.

1271
00:58:40,880 --> 00:58:42,760
Speaker 6: Because I was going out to San Francisco quite a bit,

1272
00:58:43,680 --> 00:58:46,520
Speaker 6: so I'll admit in the beginning, no finances were talked about.

1273
00:58:46,600 --> 00:58:48,600
Speaker 5: It was very just like flirty text.

1274
00:58:48,920 --> 00:58:51,000
Speaker 1: And it's okay, you got to you gotta talk to

1275
00:58:51,040 --> 00:58:52,200
Speaker 1: somebody to get to know him a little bit.

1276
00:58:52,200 --> 00:58:54,040
Speaker 2: For somebody just drop some bombs.

1277
00:58:54,320 --> 00:58:57,120
Speaker 6: Yeah, And then after that, I think it was a

1278
00:58:57,120 --> 00:58:59,400
Speaker 6: little bit we were the first time we ever talked

1279
00:58:59,440 --> 00:59:01,120
Speaker 6: on the phone. We ended up talking for three hours.

1280
00:59:01,160 --> 00:59:03,200
Speaker 6: So then you're like, WHOA, I have a lot to

1281
00:59:03,560 --> 00:59:06,360
Speaker 6: talk to this person about. So I'm trying to think

1282
00:59:06,400 --> 00:59:10,439
Speaker 6: about when some of the more finance related things, because

1283
00:59:10,480 --> 00:59:15,760
Speaker 6: I definitely felt a little bit nervous because it wasn't

1284
00:59:15,800 --> 00:59:18,160
Speaker 6: an area that I was feeling very confident in myself

1285
00:59:18,200 --> 00:59:20,520
Speaker 6: about what it felt like a blemish, and so I

1286
00:59:20,560 --> 00:59:22,120
Speaker 6: was like, Okay, what am I going to reveal this

1287
00:59:22,240 --> 00:59:25,440
Speaker 6: blemish of mine? But then she had a moment where

1288
00:59:26,360 --> 00:59:29,440
Speaker 6: she was vulnerable about some stuff that her parents were

1289
00:59:29,480 --> 00:59:37,280
Speaker 6: going through financially, and it made me feel as though, Okay,

1290
00:59:37,360 --> 00:59:38,880
Speaker 6: I can share this with her and she's not going

1291
00:59:38,960 --> 00:59:41,800
Speaker 6: to judge me. After I started talking to her about it,

1292
00:59:41,800 --> 00:59:44,959
Speaker 6: I almost was like desperate puppy afterwards, I was like, please, don't.

1293
00:59:45,080 --> 00:59:47,400
Speaker 6: I just shared this really vulnerable thing, don't judge me

1294
00:59:47,440 --> 00:59:50,800
Speaker 6: and run away. So it was this really big weight

1295
00:59:50,840 --> 00:59:53,800
Speaker 6: when I finally did start talking to her about those things.

1296
00:59:54,560 --> 00:59:59,560
Speaker 6: But then we're both incredibly emotional, so as you can imagine,

1297
00:59:59,560 --> 01:00:02,040
Speaker 6: when we it is not pretty. But then we have

1298
01:00:02,120 --> 01:00:05,800
Speaker 6: like super quick rebounds. But we decided to just move

1299
01:00:05,840 --> 01:00:10,520
Speaker 6: in together after three months of dating long distance, and

1300
01:00:10,600 --> 01:00:13,680
Speaker 6: so that's when finances really just started. You can't avoid it,

1301
01:00:13,720 --> 01:00:15,919
Speaker 6: like we're living together and we're figuring it all out.

1302
01:00:16,880 --> 01:00:19,400
Speaker 6: And the good thing was my wife was a writer,

1303
01:00:19,560 --> 01:00:21,720
Speaker 6: so she was not really making a lot of money.

1304
01:00:22,440 --> 01:00:24,200
Speaker 6: But the bad news was she moved in with me

1305
01:00:24,280 --> 01:00:26,960
Speaker 6: and I got laid off the very next day. To

1306
01:00:27,000 --> 01:00:29,800
Speaker 6: your point about it, like adversity, like neither one of

1307
01:00:29,840 --> 01:00:32,560
Speaker 6: us are making any money right when she moves here.

1308
01:00:33,240 --> 01:00:35,040
Speaker 5: And one of those moments where.

1309
01:00:36,280 --> 01:00:37,800
Speaker 6: I didn't think about it as much as we were

1310
01:00:37,840 --> 01:00:41,120
Speaker 6: going through it, But afterwards, I thought to myself, man,

1311
01:00:41,160 --> 01:00:43,680
Speaker 6: she could have totally been not down with it. She'd

1312
01:00:43,720 --> 01:00:46,000
Speaker 6: only been there for maybe a month, so she could

1313
01:00:46,000 --> 01:00:48,840
Speaker 6: have decided to just leave. But she suck it out

1314
01:00:48,880 --> 01:00:52,080
Speaker 6: and she'll joke about it now and say, I.

1315
01:00:51,360 --> 01:00:52,919
Speaker 5: Was wondering if this was going to work.

1316
01:00:53,320 --> 01:00:57,200
Speaker 6: But I think to your point about the adversity piece,

1317
01:00:57,360 --> 01:01:01,760
Speaker 6: it just it came up really quick. And yeah, neither

1318
01:01:01,800 --> 01:01:03,800
Speaker 6: of us, I think, just neither one of us were

1319
01:01:03,840 --> 01:01:07,160
Speaker 6: judging the other person every time that finances came up.

1320
01:01:07,160 --> 01:01:09,400
Speaker 6: I know that's not a great answer for maybe someone

1321
01:01:09,440 --> 01:01:12,240
Speaker 6: that's early on how you go about bringing up finances.

1322
01:01:13,200 --> 01:01:17,040
Speaker 6: I will say I lead a group through Dave Ramsey's

1323
01:01:17,040 --> 01:01:22,800
Speaker 6: Financial Peace University, and this past group or whatever, the

1324
01:01:22,880 --> 01:01:25,160
Speaker 6: last group that we went through over the nine weeks,

1325
01:01:25,520 --> 01:01:28,160
Speaker 6: I was with a bunch of just single girls, which

1326
01:01:28,160 --> 01:01:31,120
Speaker 6: obviously my wife was crazy about. I just got paired

1327
01:01:31,200 --> 01:01:33,600
Speaker 6: up that way, and so dating would come up a

1328
01:01:33,600 --> 01:01:36,040
Speaker 6: lot with them because they felt like they were doing

1329
01:01:36,040 --> 01:01:38,480
Speaker 6: all these things to improve their finances and how they

1330
01:01:38,560 --> 01:01:42,080
Speaker 6: think about it and their financial literacy, and so they're like,

1331
01:01:42,080 --> 01:01:43,600
Speaker 6: I don't want to date a guy that doesn't care

1332
01:01:43,600 --> 01:01:44,000
Speaker 6: about this.

1333
01:01:44,000 --> 01:01:44,560
Speaker 5: As much as me.

1334
01:01:45,440 --> 01:01:48,480
Speaker 6: But the consistent thing that they would say was I

1335
01:01:48,480 --> 01:01:51,200
Speaker 6: don't care necessarily that he's got everything figured out. I

1336
01:01:51,240 --> 01:01:53,040
Speaker 6: just want to know that we're aligned on how we

1337
01:01:53,080 --> 01:01:56,160
Speaker 6: think about these things. And I just think if you're dating,

1338
01:01:56,200 --> 01:01:59,479
Speaker 6: if you're early in dating, you're questioning or the things

1339
01:01:59,480 --> 01:02:02,000
Speaker 6: that you ask shouldn't be about how much money they

1340
01:02:02,080 --> 01:02:04,440
Speaker 6: have or how much debt that they have initially. It

1341
01:02:04,480 --> 01:02:06,960
Speaker 6: should just be more about how they think about those things.

1342
01:02:07,080 --> 01:02:09,400
Speaker 6: And you can notice little things like if you go

1343
01:02:09,440 --> 01:02:11,640
Speaker 6: on a date with the guy and he's driving a

1344
01:02:11,680 --> 01:02:12,560
Speaker 6: thirty thousand.

1345
01:02:12,320 --> 01:02:14,080
Speaker 5: Dollars car and he makes sixty thousand.

1346
01:02:13,840 --> 01:02:16,960
Speaker 6: Dollars, I don't know, maybe that's a sign that he's

1347
01:02:17,000 --> 01:02:17,760
Speaker 6: an overspender.

1348
01:02:18,080 --> 01:02:20,280
Speaker 1: Yeah, you gave a lot of tips in there and

1349
01:02:20,320 --> 01:02:22,280
Speaker 1: stuff you did great, and you shared a lot of

1350
01:02:22,320 --> 01:02:25,919
Speaker 1: pieces of that. I think something that I noticed from

1351
01:02:25,920 --> 01:02:29,680
Speaker 1: all of is that you were willing to be vulnerable

1352
01:02:29,760 --> 01:02:33,080
Speaker 1: even though it was so hard, because you felt you

1353
01:02:33,120 --> 01:02:35,160
Speaker 1: were in a safe space and you felt there was

1354
01:02:35,200 --> 01:02:37,280
Speaker 1: empathy there that you could be.

1355
01:02:37,280 --> 01:02:38,600
Speaker 2: That person that you needed to be.

1356
01:02:39,320 --> 01:02:42,880
Speaker 1: And I think that's what everybody's looking for and dating,

1357
01:02:42,920 --> 01:02:45,680
Speaker 1: and when you find that right person, I think these

1358
01:02:45,720 --> 01:02:48,880
Speaker 1: conversations can start to become a little bit easier.

1359
01:02:48,880 --> 01:02:50,080
Speaker 2: And maybe that's also a sign.

1360
01:02:50,360 --> 01:02:52,560
Speaker 1: When you meet someone you're like, this doesn't feel comfortable

1361
01:02:52,560 --> 01:02:55,560
Speaker 1: to talk about. That's probably not the best situation to

1362
01:02:55,640 --> 01:02:58,200
Speaker 1: be in. So there was a lot there that you

1363
01:02:58,240 --> 01:02:59,760
Speaker 1: gave and I really enjoyed that.

1364
01:03:00,840 --> 01:03:02,520
Speaker 2: One thing I want to make sure to ask you

1365
01:03:02,560 --> 01:03:03,120
Speaker 2: about too.

1366
01:03:04,000 --> 01:03:06,480
Speaker 1: Some of what you were mentioning in there sounded like

1367
01:03:06,520 --> 01:03:09,920
Speaker 1: budgeting and as you were changing things, Why is budgeting

1368
01:03:10,080 --> 01:03:11,880
Speaker 1: so important to you? Now?

1369
01:03:12,000 --> 01:03:13,440
Speaker 2: I know you also talk a lot about that in

1370
01:03:13,480 --> 01:03:14,440
Speaker 2: your social content.

1371
01:03:15,160 --> 01:03:19,120
Speaker 6: Yeah, I think no matter what stage you're at, maybe

1372
01:03:19,120 --> 01:03:21,240
Speaker 6: if you're like Elon Muskritch, maybe you don't need to

1373
01:03:21,240 --> 01:03:23,680
Speaker 6: make a budget, but he probably even has a budget himself.

1374
01:03:23,800 --> 01:03:26,880
Speaker 6: I think regardless of what stage you're at, budgets can

1375
01:03:26,920 --> 01:03:30,880
Speaker 6: serve a very different purpose. And I've noticed that there's

1376
01:03:30,920 --> 01:03:35,040
Speaker 6: a perception of restriction or even hey, I don't need

1377
01:03:35,080 --> 01:03:38,680
Speaker 6: to budget. I'm not broke, right like people oftentimes maybe

1378
01:03:38,680 --> 01:03:40,400
Speaker 6: associate budgeting with being broke.

1379
01:03:41,320 --> 01:03:43,439
Speaker 5: But when you're in a.

1380
01:03:43,360 --> 01:03:47,360
Speaker 6: Partnership with somebody, a budget is a written I wouldn't

1381
01:03:47,400 --> 01:03:49,720
Speaker 6: say contract, but a written contract of how you guys

1382
01:03:49,760 --> 01:03:52,760
Speaker 6: are going to spend your money. Because my wife and

1383
01:03:52,800 --> 01:03:55,240
Speaker 6: I don't talk about your money and my money. We

1384
01:03:55,280 --> 01:03:58,280
Speaker 6: talk about our money whenever we do things, and it

1385
01:03:58,280 --> 01:03:59,880
Speaker 6: doesn't mean that if she goes and buys something for

1386
01:03:59,880 --> 01:04:03,480
Speaker 6: twenty dollars that I'm like, hey, you spent our money.

1387
01:04:03,520 --> 01:04:06,280
Speaker 6: But it means that if we spend a certain amount,

1388
01:04:06,320 --> 01:04:08,200
Speaker 6: like I think for us it's around like something that's

1389
01:04:08,200 --> 01:04:10,880
Speaker 6: over five hundred dollars, we usually will ask each other

1390
01:04:10,920 --> 01:04:11,280
Speaker 6: about it.

1391
01:04:11,280 --> 01:04:12,000
Speaker 5: So it's our money.

1392
01:04:12,000 --> 01:04:14,240
Speaker 6: So if you're in a relationship, budgeting is a great

1393
01:04:14,240 --> 01:04:16,520
Speaker 6: way to just get alignment with each other and have

1394
01:04:16,560 --> 01:04:19,200
Speaker 6: that conversation. And for us, I don't think that we

1395
01:04:19,240 --> 01:04:22,880
Speaker 6: would talk a lot about how we would spend our

1396
01:04:22,920 --> 01:04:25,600
Speaker 6: money if we weren't sitting down and making a budget.

1397
01:04:25,760 --> 01:04:28,960
Speaker 6: But if you're just someone who is just feeling like

1398
01:04:29,000 --> 01:04:32,280
Speaker 6: you're struggling, a budget is an audit of your situation.

1399
01:04:33,400 --> 01:04:36,200
Speaker 6: Budgets are like going to the doctor when you're sick.

1400
01:04:37,000 --> 01:04:39,560
Speaker 6: You know, you can't figure out how to heal yourself

1401
01:04:39,680 --> 01:04:45,000
Speaker 6: if you don't get a proper diagnosis. Right, If you're like, hey,

1402
01:04:45,040 --> 01:04:47,840
Speaker 6: I'm living paycheck to paycheck but you never actually go

1403
01:04:47,960 --> 01:04:51,480
Speaker 6: through your expenses or how much money you truly have

1404
01:04:51,560 --> 01:04:54,120
Speaker 6: coming in, I don't know how you can expect to

1405
01:04:54,160 --> 01:04:57,640
Speaker 6: get any better. And so I felt like that was

1406
01:04:57,680 --> 01:05:01,480
Speaker 6: just such a foundational staf And then on top of it,

1407
01:05:01,480 --> 01:05:05,400
Speaker 6: it's it also it's a test of your behaviors, So

1408
01:05:05,440 --> 01:05:07,960
Speaker 6: it's one thing to commit to making a budget, but

1409
01:05:08,160 --> 01:05:11,120
Speaker 6: ninety percent of it is actually sticking to it, and

1410
01:05:11,200 --> 01:05:14,000
Speaker 6: so to me, it feels like if you can just

1411
01:05:14,040 --> 01:05:17,360
Speaker 6: do that part, you could almost know nothing else about finances.

1412
01:05:17,640 --> 01:05:19,800
Speaker 6: But if you're just good at sticking to a budget

1413
01:05:20,040 --> 01:05:22,920
Speaker 6: and living within your means, you're going to be just

1414
01:05:22,960 --> 01:05:25,760
Speaker 6: fine because you'll probably figure out a way to start investing.

1415
01:05:25,800 --> 01:05:28,960
Speaker 6: Over time, you'll probably save up for emergencies. Like all

1416
01:05:29,000 --> 01:05:31,720
Speaker 6: the other stuff is smaller details that can definitely help

1417
01:05:31,760 --> 01:05:35,080
Speaker 6: you accelerate your journey. But if you can't follow a budget,

1418
01:05:35,120 --> 01:05:39,080
Speaker 6: the I'm like zero to one right. If you can't

1419
01:05:39,120 --> 01:05:41,440
Speaker 6: get to one, you're never going to get to all

1420
01:05:41,440 --> 01:05:42,120
Speaker 6: the other things.

1421
01:05:42,480 --> 01:05:46,920
Speaker 1: Baby steps are very important, the baby steps, Yeah, could, Daniel.

1422
01:05:46,960 --> 01:05:49,160
Speaker 1: I so appreciate you being here and sharing your story.

1423
01:05:49,280 --> 01:05:53,000
Speaker 1: I think it's really important. And just how you share

1424
01:05:53,160 --> 01:05:55,360
Speaker 1: and how you talk about these things. Is there hard

1425
01:05:55,440 --> 01:05:58,439
Speaker 1: topics and people need to hear these things? Is there

1426
01:05:58,760 --> 01:06:00,680
Speaker 1: anything that we didn't get to want to make sure

1427
01:06:00,960 --> 01:06:03,200
Speaker 1: people here know about anything like that?

1428
01:06:05,120 --> 01:06:05,800
Speaker 5: No, not really.

1429
01:06:05,880 --> 01:06:08,840
Speaker 6: I'm pretty new to this game myself and trying to

1430
01:06:08,840 --> 01:06:11,600
Speaker 6: figure out myself online a little bit, I think right now,

1431
01:06:11,680 --> 01:06:15,400
Speaker 6: So I think the one thing that I'll just echoes

1432
01:06:15,440 --> 01:06:17,360
Speaker 6: that zero to one piece. If people are struggling to

1433
01:06:17,440 --> 01:06:19,280
Speaker 6: get from zero to one, that's the stuff that I

1434
01:06:19,320 --> 01:06:21,240
Speaker 6: talk about online, that's the stuff that I write about

1435
01:06:21,280 --> 01:06:23,480
Speaker 6: in my newsletter and all that kind of stuff. But

1436
01:06:23,560 --> 01:06:26,080
Speaker 6: if you're past that, then there's probably way better people

1437
01:06:26,080 --> 01:06:28,200
Speaker 6: than me to get your advice from.

1438
01:06:28,720 --> 01:06:31,360
Speaker 1: I think you're super relatable and what you're doing again

1439
01:06:31,520 --> 01:06:33,959
Speaker 1: is important. So Daniel, thank you for being here, Thanks

1440
01:06:33,960 --> 01:06:36,280
Speaker 1: for sharing your story, and it's really great to talk

1441
01:06:36,320 --> 01:06:39,200
Speaker 1: with you. Likewise, I hope you came away from this

1442
01:06:39,240 --> 01:06:42,440
Speaker 1: episode with some new tools and resources while also feeling

1443
01:06:42,480 --> 01:06:45,080
Speaker 1: heard when it comes to maybe your relationship with money.

1444
01:06:45,120 --> 01:06:48,200
Speaker 1: If you like the episode, please subscribe it's a huge help,

1445
01:06:48,440 --> 01:06:52,160
Speaker 1: and follow the podcast Instagram at take this personally. As always,

1446
01:06:52,280 --> 01:06:54,000
Speaker 1: I'm so happy you're here. I'll talk to you guys

1447
01:06:54,040 --> 01:06:54,520
Speaker 1: next week.