1 00:00:00,080 --> 00:00:02,759 Speaker 1: Welcome to How the Money. I'm Joel and I and Matt. 2 00:00:03,000 --> 00:00:25,919 Speaker 1: Today we're discussing battling money anxiety. Yeah, Joel, I just 3 00:00:25,960 --> 00:00:30,120 Speaker 1: saw a report by a financial services organization and they 4 00:00:30,120 --> 00:00:35,240 Speaker 1: reported that eight of Americans experienced anxiety around their money. 5 00:00:35,560 --> 00:00:39,519 Speaker 1: These negative impacts have effects on their health, their social lives, 6 00:00:39,520 --> 00:00:42,360 Speaker 1: and their careers as well. So I think it's very 7 00:00:42,400 --> 00:00:46,000 Speaker 1: timely and important that we're talking about anxiety specifically, you know, 8 00:00:46,159 --> 00:00:49,279 Speaker 1: our anxiety and how it pertains to our money. We're 9 00:00:49,280 --> 00:00:51,120 Speaker 1: gonna talk about mental health a little bit, and we're 10 00:00:51,120 --> 00:00:53,680 Speaker 1: gonna talk about some specific ways that we can reduce 11 00:00:53,720 --> 00:00:56,440 Speaker 1: the amount of anxiety that we have surrounding our money. Yeah. No, 12 00:00:56,520 --> 00:00:59,720 Speaker 1: I think that's so helpful because money anxiety is is, 13 00:01:00,080 --> 00:01:02,040 Speaker 1: like you said, a huge problem. It affects eight and 14 00:01:02,040 --> 00:01:04,280 Speaker 1: a half out of ten of us. So that, yeah, 15 00:01:04,280 --> 00:01:05,640 Speaker 1: that's that's quite a bit of people that are that 16 00:01:05,680 --> 00:01:08,160 Speaker 1: are affected by money anxiety. And I think there are 17 00:01:08,200 --> 00:01:10,120 Speaker 1: you know, really good tips so we can give to 18 00:01:10,160 --> 00:01:13,440 Speaker 1: help mitigate. Some of them are our mental things, ways 19 00:01:13,440 --> 00:01:15,000 Speaker 1: that we need to approach our money, and then other 20 00:01:15,000 --> 00:01:17,080 Speaker 1: things that we need to discuss our money moves that 21 00:01:17,080 --> 00:01:18,640 Speaker 1: we need to make in order to be able to 22 00:01:18,920 --> 00:01:22,120 Speaker 1: reduce the anxiety that we feel about our financial situation. 23 00:01:22,280 --> 00:01:24,280 Speaker 1: So we're gonna get into all that stuff today on 24 00:01:24,319 --> 00:01:26,440 Speaker 1: the show. But Matt, before we get to that, we 25 00:01:26,480 --> 00:01:29,240 Speaker 1: had a listener right in about a strategy to to 26 00:01:29,319 --> 00:01:31,440 Speaker 1: save money at the grocery store. And I know you 27 00:01:31,520 --> 00:01:33,880 Speaker 1: responded and you mentioned the credit card that you use 28 00:01:34,000 --> 00:01:35,680 Speaker 1: at the grocery store. But what was his take? And 29 00:01:35,720 --> 00:01:38,399 Speaker 1: kind of, yeah, what what do you think about using 30 00:01:38,680 --> 00:01:41,240 Speaker 1: what was a prepaid card? Yeah? Prepaid cards, and that's 31 00:01:41,240 --> 00:01:43,840 Speaker 1: not something we've talked about before, but he was mentioning 32 00:01:43,880 --> 00:01:47,440 Speaker 1: this specific card. It's called a Kimbo a k I 33 00:01:47,600 --> 00:01:49,720 Speaker 1: m b O makes me think to Kimbay Mutamba, who 34 00:01:49,760 --> 00:01:51,480 Speaker 1: was a basketball player for the Hots for a long time, 35 00:01:51,520 --> 00:01:53,080 Speaker 1: and he used to wag his finger and people's faces 36 00:01:53,080 --> 00:01:55,440 Speaker 1: after he blocked their shot. Yeah, yeah, no, no no, 37 00:01:55,640 --> 00:01:57,320 Speaker 1: but yeah, he just smushed his name together. And you 38 00:01:57,360 --> 00:02:00,320 Speaker 1: get this card, the paid card. So what's interesting about 39 00:02:00,360 --> 00:02:02,440 Speaker 1: going with prepaid cards? And this isn't something we've really 40 00:02:02,440 --> 00:02:05,560 Speaker 1: talked about before. When it comes to budgeting, we tend 41 00:02:05,600 --> 00:02:08,680 Speaker 1: to go to the extreme of saying, hey, if you 42 00:02:08,720 --> 00:02:10,959 Speaker 1: really needed to take control of your spending. Look to 43 00:02:11,000 --> 00:02:12,799 Speaker 1: the envelope system. A lot of people do that where 44 00:02:12,800 --> 00:02:15,160 Speaker 1: they will withdraw a certain amount of cash and they 45 00:02:15,160 --> 00:02:16,760 Speaker 1: literally will have that cash on them and they will 46 00:02:16,800 --> 00:02:18,400 Speaker 1: only use that amount of cash and once they're out 47 00:02:18,400 --> 00:02:20,440 Speaker 1: of money, they're out of money, right, And so you 48 00:02:20,480 --> 00:02:22,119 Speaker 1: can see this really playing out well when it comes 49 00:02:22,120 --> 00:02:24,760 Speaker 1: to groceries. When it comes to entertainment, there's a hard 50 00:02:24,800 --> 00:02:27,280 Speaker 1: limit really helpful for a lot of people. Exactly you 51 00:02:27,520 --> 00:02:30,920 Speaker 1: you would have to go and withdraw more cash, you know, Yeah, 52 00:02:30,960 --> 00:02:33,280 Speaker 1: so it would be a more painful process to kind 53 00:02:33,280 --> 00:02:36,400 Speaker 1: of cheat, right, there's something tangible that runs out versus 54 00:02:36,440 --> 00:02:38,200 Speaker 1: you know, you're putting that money on a credit card 55 00:02:38,560 --> 00:02:42,120 Speaker 1: and there isn't a tangible limit necessarily, and so I 56 00:02:42,160 --> 00:02:44,680 Speaker 1: think prepaid cards, first of all, can be a great 57 00:02:44,680 --> 00:02:47,440 Speaker 1: alternative to using cash because you can put a certain 58 00:02:47,480 --> 00:02:49,960 Speaker 1: amount of money on that card. And what's great about 59 00:02:49,960 --> 00:02:51,680 Speaker 1: that is once you run out of money on that card, 60 00:02:51,760 --> 00:02:53,359 Speaker 1: well that's it. You know, like you need to wait 61 00:02:53,440 --> 00:02:55,320 Speaker 1: until the first of the month before you're able to 62 00:02:55,800 --> 00:02:59,360 Speaker 1: replenish that money. But with this specific card, one of 63 00:02:59,360 --> 00:03:01,519 Speaker 1: the things that was the coolest feature about the Akimbo 64 00:03:01,560 --> 00:03:04,080 Speaker 1: card was that you can set up text alerts, and 65 00:03:04,120 --> 00:03:06,359 Speaker 1: so every time you make a purchase with that card, 66 00:03:06,639 --> 00:03:09,560 Speaker 1: it'll a tell you how much you just spent and 67 00:03:09,600 --> 00:03:12,520 Speaker 1: be it'll tell you the remaining balance that you have 68 00:03:12,720 --> 00:03:15,480 Speaker 1: left on that card. And that is kind of a 69 00:03:15,520 --> 00:03:18,280 Speaker 1: game changer, man, because it's because you were doing that manually. 70 00:03:18,320 --> 00:03:22,440 Speaker 1: And that's because you text your wife like a couple 71 00:03:22,480 --> 00:03:24,320 Speaker 1: times a month, a couple of times about what the 72 00:03:24,320 --> 00:03:27,799 Speaker 1: balance is on the grocery budget or her specific money 73 00:03:27,880 --> 00:03:30,520 Speaker 1: or yours. I mean, like you're updating the entertainment funds, 74 00:03:30,520 --> 00:03:32,160 Speaker 1: that kind of stuff. And he was like, dude, let 75 00:03:32,160 --> 00:03:35,520 Speaker 1: a Kimbo do it for you. Yes, yes, yes, you 76 00:03:35,600 --> 00:03:38,720 Speaker 1: know exactly because Kate, she's interested in our finances, but 77 00:03:38,760 --> 00:03:41,400 Speaker 1: not to the extent that I am, right, And so like, 78 00:03:41,440 --> 00:03:43,600 Speaker 1: she wants to know what these updates are, but she's 79 00:03:43,600 --> 00:03:45,760 Speaker 1: not going to go seek them out herself. And so 80 00:03:45,920 --> 00:03:48,800 Speaker 1: if she automatically got these updates, because you know, in 81 00:03:48,840 --> 00:03:52,160 Speaker 1: our family she handles the groceries, that's one of her 82 00:03:52,240 --> 00:03:55,200 Speaker 1: areas of expertise and what she purchases, but if she 83 00:03:55,240 --> 00:03:56,760 Speaker 1: were to get an update on her phone that told 84 00:03:56,760 --> 00:04:00,000 Speaker 1: her how much was left, man, she has perfectly up 85 00:04:00,040 --> 00:04:02,920 Speaker 1: to date information automatically. She doesn't have to come check 86 00:04:02,960 --> 00:04:04,880 Speaker 1: in with me, you know, a couple of times a month. 87 00:04:05,200 --> 00:04:07,440 Speaker 1: That's assuming that I haven't been proactive and sent her 88 00:04:07,480 --> 00:04:10,400 Speaker 1: that information ahead of time. But it just streamlines things. 89 00:04:10,400 --> 00:04:12,640 Speaker 1: It makes things easier. And so the big question, though, 90 00:04:12,760 --> 00:04:15,480 Speaker 1: is is it worth me not getting my six percent 91 00:04:16,000 --> 00:04:18,760 Speaker 1: on groceries? Because I think I just mentioned this to 92 00:04:18,800 --> 00:04:21,360 Speaker 1: you recently on an episode, But I got that blue 93 00:04:21,360 --> 00:04:24,119 Speaker 1: Cash Preferred American Express card and we get six percent 94 00:04:24,160 --> 00:04:26,200 Speaker 1: on groceries and that is the highest percentage you can 95 00:04:26,240 --> 00:04:29,440 Speaker 1: get cash back on a regular card. So regardless, I 96 00:04:29,520 --> 00:04:31,279 Speaker 1: think we are going to try this out though, because 97 00:04:31,440 --> 00:04:33,359 Speaker 1: I want to just try not and just to know 98 00:04:33,400 --> 00:04:36,200 Speaker 1: what that feels like, see how it changes maybe me 99 00:04:36,320 --> 00:04:38,760 Speaker 1: and Kate's relationship, the dynamics there a little bit. And 100 00:04:38,800 --> 00:04:40,800 Speaker 1: if it works out better and in the end, if 101 00:04:40,839 --> 00:04:43,920 Speaker 1: we end up not going over budget slightly because that 102 00:04:43,960 --> 00:04:47,320 Speaker 1: information is readily available, well then it's worth not getting 103 00:04:47,320 --> 00:04:49,720 Speaker 1: that six percent back, right, Uh, it might be worth 104 00:04:49,800 --> 00:04:54,880 Speaker 1: not having these, you know, small arguments over over the 105 00:04:54,880 --> 00:04:58,599 Speaker 1: monthly budget. I'll I'll gladly lose six percent back to 106 00:04:58,640 --> 00:05:01,040 Speaker 1: avoid some arguments exact. But I'm a numbers guy, and 107 00:05:01,040 --> 00:05:02,880 Speaker 1: I see six percent that I'm leaving on the table, 108 00:05:03,240 --> 00:05:06,000 Speaker 1: you know, of about five bucks a month, which is 109 00:05:06,040 --> 00:05:08,640 Speaker 1: what we spend on groceries, and that's not jump change essentially, 110 00:05:08,680 --> 00:05:10,320 Speaker 1: that's that's sort of the fee that I'm paying in 111 00:05:10,440 --> 00:05:12,360 Speaker 1: order to go to a system that would be a 112 00:05:12,400 --> 00:05:14,560 Speaker 1: little bit easier. Yeah. Well, I'll say I haven't really 113 00:05:14,600 --> 00:05:17,000 Speaker 1: looked into the Kimbo card. I know there are lots 114 00:05:17,040 --> 00:05:19,320 Speaker 1: of different kinds of prepaid cards out there, and so yeah, 115 00:05:19,360 --> 00:05:21,240 Speaker 1: one thing I think is important to mention here if 116 00:05:21,279 --> 00:05:23,600 Speaker 1: someone is thinking about doing a prepaid card, A lot 117 00:05:23,680 --> 00:05:27,640 Speaker 1: of prepaid cards have a lot of nasty fees associated 118 00:05:27,680 --> 00:05:29,880 Speaker 1: with them. So that's something to be aware of before 119 00:05:29,920 --> 00:05:32,840 Speaker 1: you do jump into using prepaid cards in order to 120 00:05:32,920 --> 00:05:35,800 Speaker 1: kind of help you budget it. Yeah, it could. If 121 00:05:35,839 --> 00:05:39,640 Speaker 1: there are zero fee prepaid cards that make it easier 122 00:05:39,680 --> 00:05:41,920 Speaker 1: for you, right and provide text alerts like this, then 123 00:05:41,960 --> 00:05:44,120 Speaker 1: it can be a win win to to be able 124 00:05:44,160 --> 00:05:47,039 Speaker 1: to help you budget well, but not have tons of 125 00:05:47,040 --> 00:05:49,560 Speaker 1: cashing in your pocket because that's an awkward place to 126 00:05:49,600 --> 00:05:51,839 Speaker 1: be too. But yeah, just something for people to be 127 00:05:51,839 --> 00:05:53,920 Speaker 1: aware of. A lot of these prepaid cards come with 128 00:05:54,000 --> 00:05:56,719 Speaker 1: monthly fees. Come with lack of usage, fees and stuff 129 00:05:56,720 --> 00:05:58,640 Speaker 1: like that, and so you just don't want your money 130 00:05:58,720 --> 00:06:01,599 Speaker 1: to be drained. That's on the hard because you chose 131 00:06:01,680 --> 00:06:04,120 Speaker 1: that route instead of instead of something else that that 132 00:06:04,200 --> 00:06:07,200 Speaker 1: just wouldn't fee you to death exactly. So yeah, it's 133 00:06:07,240 --> 00:06:10,520 Speaker 1: a lot to consider because you have the behavioral relationship 134 00:06:10,560 --> 00:06:12,240 Speaker 1: side of it, and then you've got the numbers and 135 00:06:12,279 --> 00:06:14,040 Speaker 1: sense side of it as well. You need to take 136 00:06:14,040 --> 00:06:16,680 Speaker 1: all those things into account. But but yeah, hopefully this 137 00:06:16,720 --> 00:06:18,359 Speaker 1: is something we can try out soon and I'll let 138 00:06:18,400 --> 00:06:19,960 Speaker 1: you know how it goes. All right, sounds good. I'll 139 00:06:19,960 --> 00:06:21,919 Speaker 1: look forward to hearing. All right, Matt, let's mention the 140 00:06:21,920 --> 00:06:23,480 Speaker 1: beer that we're having on the show today. We're drinking 141 00:06:23,520 --> 00:06:26,240 Speaker 1: a beer called Sour Opal. It's an American wild Dale 142 00:06:26,320 --> 00:06:29,159 Speaker 1: buy Firestone Walker Big brewery out of California, and our 143 00:06:29,200 --> 00:06:31,240 Speaker 1: buddy Josh sent this one to us. So, yeah, looking 144 00:06:31,279 --> 00:06:32,960 Speaker 1: forward to having this one with you. Man. Yeah, he 145 00:06:33,000 --> 00:06:34,520 Speaker 1: was kind of enough to send us a bunch of beers. 146 00:06:34,720 --> 00:06:35,920 Speaker 1: This is one that was kind of sitting in the 147 00:06:35,960 --> 00:06:38,320 Speaker 1: back of the fridge. We had a bunch of his 148 00:06:38,400 --> 00:06:40,960 Speaker 1: a few months ago. Uh, I'm really excited about this 149 00:06:41,000 --> 00:06:43,279 Speaker 1: one and we'll definitely share our notes and what we 150 00:06:43,320 --> 00:06:45,520 Speaker 1: think about this beer at the end of the episode, Yeah, 151 00:06:45,520 --> 00:06:47,400 Speaker 1: for sure. But now onto the subject in hand, Matt. 152 00:06:47,440 --> 00:06:50,560 Speaker 1: We're talking about battling money anxiety, and it is just 153 00:06:50,839 --> 00:06:54,880 Speaker 1: a highly relevant issue, even more relevant right now. People's 154 00:06:54,920 --> 00:06:58,200 Speaker 1: money anxieties are flaring up. As you know, the unemployment 155 00:06:58,320 --> 00:07:01,760 Speaker 1: numbers are are pretty dismal, and people are just having 156 00:07:01,760 --> 00:07:04,800 Speaker 1: a tough time with their personal finances in a rough economy. 157 00:07:04,880 --> 00:07:07,120 Speaker 1: And it's also important to note that money anxiety doesn't 158 00:07:07,160 --> 00:07:10,120 Speaker 1: just play low income earners right. More and more stories 159 00:07:10,160 --> 00:07:12,760 Speaker 1: have been written in recent years about well off people 160 00:07:13,000 --> 00:07:16,200 Speaker 1: admitting their own money anxieties, their own difficulties with money. 161 00:07:16,440 --> 00:07:18,840 Speaker 1: People making a hundred thousand dollars or more are living 162 00:07:18,840 --> 00:07:22,200 Speaker 1: paycheck to paycheck, just like half of Americans are. So 163 00:07:22,280 --> 00:07:25,480 Speaker 1: that anxiety that comes with managing your money, it's not 164 00:07:25,560 --> 00:07:28,080 Speaker 1: something rare or unique. You're not alone if you are 165 00:07:28,280 --> 00:07:32,400 Speaker 1: somebody who does find their personal finances to be an 166 00:07:32,400 --> 00:07:36,360 Speaker 1: anxiety producing area of their life. And people prone to 167 00:07:36,400 --> 00:07:40,760 Speaker 1: anxiety or depression are less likely to have a retirement 168 00:07:40,800 --> 00:07:43,240 Speaker 1: account where they're saving for the future. That's not good 169 00:07:43,520 --> 00:07:47,000 Speaker 1: and that's according to a seventeen finding from a Cornell study, 170 00:07:47,280 --> 00:07:49,760 Speaker 1: these anxieties are doing great harm to the reality on 171 00:07:49,800 --> 00:07:52,680 Speaker 1: the ground of people building up and saving for their 172 00:07:52,720 --> 00:07:55,560 Speaker 1: future matts. So it's not just that we feel these things, 173 00:07:55,680 --> 00:07:58,600 Speaker 1: but but these feelings that the anxious feelings that come 174 00:07:58,600 --> 00:08:01,320 Speaker 1: along with not handling our money well or or being 175 00:08:01,400 --> 00:08:05,200 Speaker 1: unsure about how to go about handling our money. Uh, 176 00:08:05,440 --> 00:08:09,040 Speaker 1: it produces actually an inability to to take positive action 177 00:08:09,200 --> 00:08:10,800 Speaker 1: in the future. And so it is a topic that 178 00:08:10,920 --> 00:08:13,120 Speaker 1: we really do need to cover. Yeah, well, really that 179 00:08:13,160 --> 00:08:15,480 Speaker 1: the question is what came first, the chicken or the egg. 180 00:08:16,400 --> 00:08:18,920 Speaker 1: Do they not have a retirement account because they're anxious, 181 00:08:19,040 --> 00:08:21,200 Speaker 1: or are the anxious because they don't have any money 182 00:08:21,240 --> 00:08:23,240 Speaker 1: in the bank? Man, could be a little bit of both, Yeah, 183 00:08:23,280 --> 00:08:25,760 Speaker 1: and I think it is. And obviously, like it's not 184 00:08:25,800 --> 00:08:28,280 Speaker 1: a one size fits all sort of situation, Like people 185 00:08:28,360 --> 00:08:32,120 Speaker 1: have varied circumstances with lots of different things going on 186 00:08:32,240 --> 00:08:34,600 Speaker 1: in their lives, and you know, our finances are only 187 00:08:34,640 --> 00:08:36,320 Speaker 1: a small part of it. Obviously, that's what we're gonna 188 00:08:36,320 --> 00:08:39,000 Speaker 1: be focusing on today, is the money aspect of it 189 00:08:39,200 --> 00:08:42,160 Speaker 1: and how that anxiety is sort of manifesting itself in 190 00:08:42,360 --> 00:08:44,640 Speaker 1: our finances, you know, and this the stress and this 191 00:08:44,720 --> 00:08:46,720 Speaker 1: anxiety that we have, it seems to be getting worse. 192 00:08:47,080 --> 00:08:51,080 Speaker 1: The president of the American Psychiatry Association and need to Everett. 193 00:08:51,280 --> 00:08:55,280 Speaker 1: She said that US adults are increasingly anxious, particularly about health, 194 00:08:55,360 --> 00:08:58,760 Speaker 1: safety and finances. Right in COVID nineteen, it hasn't done 195 00:08:58,760 --> 00:09:02,120 Speaker 1: anything to lessen the pact of anxiety on our nation. 196 00:09:02,200 --> 00:09:05,920 Speaker 1: Most of us are feeling familial and financial stressors even 197 00:09:05,960 --> 00:09:09,199 Speaker 1: more now than we normally would. Uh. There's some new 198 00:09:09,240 --> 00:09:11,880 Speaker 1: research from qual Tricks, and they show that since the 199 00:09:11,920 --> 00:09:16,000 Speaker 1: health crisis began, that thirty of folks reported increased insomnia, 200 00:09:16,280 --> 00:09:19,640 Speaker 1: half of respondents felt more irritable, and six of people 201 00:09:19,679 --> 00:09:22,920 Speaker 1: say that they have higher levels of stress altogether. Man, 202 00:09:22,960 --> 00:09:25,720 Speaker 1: I know, for me, I guess this isn't really money related, 203 00:09:25,760 --> 00:09:27,559 Speaker 1: but like just going to the grocery store stresses me 204 00:09:27,600 --> 00:09:29,720 Speaker 1: out a little bit. I know, before there was a 205 00:09:29,760 --> 00:09:31,480 Speaker 1: whole lot of good data out there as far as 206 00:09:31,640 --> 00:09:34,040 Speaker 1: what you were supposed to be doing. The CDC hadn't 207 00:09:34,160 --> 00:09:36,600 Speaker 1: uh instituted the you know the face coverings, you know 208 00:09:36,679 --> 00:09:39,120 Speaker 1: mask rule essentially. But like I would go into the 209 00:09:39,120 --> 00:09:40,760 Speaker 1: grocery store and I would kind of hold my breath, 210 00:09:40,840 --> 00:09:43,280 Speaker 1: like like when I would walk past groups of people 211 00:09:43,320 --> 00:09:45,520 Speaker 1: because like I didn't know what else to do. And 212 00:09:45,559 --> 00:09:47,840 Speaker 1: I realized that holding your breath really stresses you out 213 00:09:47,880 --> 00:09:50,160 Speaker 1: while you're trying to run around the grocery store with 214 00:09:50,200 --> 00:09:52,800 Speaker 1: a shopping list. I do not recommend that, but yeah, 215 00:09:52,800 --> 00:09:55,280 Speaker 1: I mean the stress shows itself in all sorts of 216 00:09:55,280 --> 00:09:57,440 Speaker 1: ways in our lives, and yeah, we see that played 217 00:09:57,480 --> 00:09:58,920 Speaker 1: out in a big way when it comes to our money. Well, 218 00:09:58,920 --> 00:10:00,199 Speaker 1: I'm glad I didn't find you past out in the 219 00:10:00,240 --> 00:10:01,760 Speaker 1: bacon aisle with the blue face or something like that. 220 00:10:01,840 --> 00:10:03,280 Speaker 1: I'm like shooting for the exit, and I'm like, I 221 00:10:03,280 --> 00:10:04,679 Speaker 1: think I can make it. I think I can make it. 222 00:10:05,240 --> 00:10:07,800 Speaker 1: I can't make it. I can't make it, And down 223 00:10:07,880 --> 00:10:11,440 Speaker 1: goes Matt. Well, that I gotta say too that this 224 00:10:11,520 --> 00:10:15,600 Speaker 1: issue in particular is is pretty personal in my life. 225 00:10:15,640 --> 00:10:18,240 Speaker 1: My wife struggles with anxiety. It's been something that that 226 00:10:18,240 --> 00:10:20,120 Speaker 1: we've had to talk about more and more through the years. 227 00:10:20,160 --> 00:10:22,160 Speaker 1: It's something that we have to kind of maintain constic 228 00:10:22,200 --> 00:10:24,720 Speaker 1: communication on, like how are your anxiety levels. It's something 229 00:10:24,720 --> 00:10:27,800 Speaker 1: that we've kind of grown accustomed to having be a 230 00:10:27,840 --> 00:10:30,720 Speaker 1: part of our lives. And I've learned a lot about 231 00:10:30,760 --> 00:10:33,440 Speaker 1: it as we've grown together through dealing with the difficulties 232 00:10:33,480 --> 00:10:35,440 Speaker 1: that come with kind of some of the anxious tendencies 233 00:10:35,480 --> 00:10:37,760 Speaker 1: that she has. Medications help some, but we've also had 234 00:10:37,800 --> 00:10:40,800 Speaker 1: to be just really intentional in order to combat these 235 00:10:40,840 --> 00:10:44,559 Speaker 1: anxieties together as a couple. And so, yeah, we're fortunate 236 00:10:44,600 --> 00:10:47,360 Speaker 1: that that money isn't one of the reasons behind her anxiety, 237 00:10:47,400 --> 00:10:49,840 Speaker 1: because you know, we have done a pretty good job 238 00:10:49,880 --> 00:10:52,040 Speaker 1: over the years of handling it well. But that's why 239 00:10:52,080 --> 00:10:54,400 Speaker 1: I think tack tackling this topic feels so important is 240 00:10:54,400 --> 00:10:57,200 Speaker 1: because it is personal in a lot of ways to me, uh, 241 00:10:57,280 --> 00:10:59,920 Speaker 1: into our family. Well, dude, thanks for sharing that. You know, 242 00:11:00,080 --> 00:11:03,160 Speaker 1: money anxiety just financial stress in general, Like, that's something 243 00:11:03,160 --> 00:11:05,280 Speaker 1: that most all of us deal with in one way 244 00:11:05,360 --> 00:11:07,959 Speaker 1: or another. Right, It's a very real thing. And even 245 00:11:07,960 --> 00:11:10,120 Speaker 1: though a lot of us we might try and deny it, 246 00:11:10,320 --> 00:11:14,000 Speaker 1: were all more susceptible to it. Then we realized one 247 00:11:14,000 --> 00:11:16,119 Speaker 1: of the biggest problems, I think it's not even realizing 248 00:11:16,200 --> 00:11:18,920 Speaker 1: that we might already have this anxiety, you know, it 249 00:11:19,040 --> 00:11:21,960 Speaker 1: might be present in our lives now. And so what 250 00:11:22,000 --> 00:11:24,720 Speaker 1: we want to talk about next are the different signs 251 00:11:25,200 --> 00:11:28,280 Speaker 1: the symptoms of some of this financial stress, and we'll 252 00:11:28,320 --> 00:11:39,760 Speaker 1: talk about those right after the break. All right, now 253 00:11:39,760 --> 00:11:42,240 Speaker 1: we're back from the break. We're talking about battling money anxiety, 254 00:11:42,440 --> 00:11:44,839 Speaker 1: and in particular, people need to know what the signs 255 00:11:44,840 --> 00:11:46,160 Speaker 1: are that they might be dealing with it. I mean, 256 00:11:46,160 --> 00:11:48,360 Speaker 1: I think some people might be like, duh, I'm pulling 257 00:11:48,400 --> 00:11:51,000 Speaker 1: my hair out over here, like looking at my bank statement, 258 00:11:51,160 --> 00:11:54,080 Speaker 1: and so some people might just automatically know that they're 259 00:11:54,080 --> 00:11:57,200 Speaker 1: suffering from from money anxiety. Some of our listeners who 260 00:11:57,240 --> 00:12:00,280 Speaker 1: are handling money really well might not have as much 261 00:12:00,280 --> 00:12:02,360 Speaker 1: of a clue though that it still does plague them. 262 00:12:02,480 --> 00:12:03,680 Speaker 1: And I know that can be the case for me 263 00:12:03,760 --> 00:12:06,320 Speaker 1: that sometimes, you know, money issues do come up in 264 00:12:06,320 --> 00:12:09,120 Speaker 1: my brain that cause me some anxiety. But it's not 265 00:12:09,200 --> 00:12:12,040 Speaker 1: because I'm living hand to mouth, I'm living paycheck to paycheck. 266 00:12:12,200 --> 00:12:15,079 Speaker 1: It's just because I'm not thinking or handling that situation 267 00:12:15,480 --> 00:12:17,160 Speaker 1: very well. And yes, so so so knowing some of 268 00:12:17,160 --> 00:12:19,800 Speaker 1: these signs can be can be really helpful and and 269 00:12:19,920 --> 00:12:22,520 Speaker 1: really shine a light on what might actually be happening 270 00:12:22,640 --> 00:12:24,840 Speaker 1: beneath the surface. Some of these symptoms might be more 271 00:12:24,880 --> 00:12:27,640 Speaker 1: subtle than we realize. Yeah, completely, Yeah, So let's get 272 00:12:27,679 --> 00:12:30,120 Speaker 1: into a few of them real quick. And one is 273 00:12:30,120 --> 00:12:32,960 Speaker 1: paying too much attention to the stock market, financial news, 274 00:12:32,960 --> 00:12:35,160 Speaker 1: and your four oh one K balance. In this down term, 275 00:12:35,200 --> 00:12:38,160 Speaker 1: we've experienced a lot of stock market volatility, and so 276 00:12:38,360 --> 00:12:42,240 Speaker 1: if you're tending to head to CNBC way more than 277 00:12:42,280 --> 00:12:44,520 Speaker 1: you used to, you're checking your four o one K 278 00:12:44,640 --> 00:12:47,400 Speaker 1: balance on a daily basis or a weekly basis, well, 279 00:12:47,440 --> 00:12:50,680 Speaker 1: that's a sign that you have some financial anxiety. And 280 00:12:50,840 --> 00:12:53,120 Speaker 1: if you can't let it go, if you can't turn 281 00:12:53,160 --> 00:12:55,240 Speaker 1: those things off, then that is definitely a sign you 282 00:12:55,240 --> 00:12:57,000 Speaker 1: need to watch out for. Yeah, man, I think this 283 00:12:57,080 --> 00:12:59,520 Speaker 1: is especially true too for us, You and me, like 284 00:12:59,559 --> 00:13:01,520 Speaker 1: we're relatively young, and we we've got a lot of 285 00:13:01,559 --> 00:13:04,720 Speaker 1: younger listeners, and so if you are investing for the 286 00:13:04,800 --> 00:13:07,439 Speaker 1: long haul, you don't need to look at your your 287 00:13:07,440 --> 00:13:10,880 Speaker 1: balances daily or even weekly because it doesn't really matter. 288 00:13:11,000 --> 00:13:13,600 Speaker 1: It doesn't matter what the market is doing right now, 289 00:13:13,640 --> 00:13:16,760 Speaker 1: because the impact of these fluctuations that we have currently 290 00:13:17,440 --> 00:13:19,720 Speaker 1: are going to have such a small impact on the 291 00:13:19,760 --> 00:13:21,520 Speaker 1: amount that we have in our nest egg, you know, 292 00:13:21,600 --> 00:13:23,719 Speaker 1: twenty and thirty years from now. So if you are 293 00:13:23,760 --> 00:13:26,120 Speaker 1: a younger listener in particular in your twenties or thirties, 294 00:13:26,320 --> 00:13:28,199 Speaker 1: checking your portfolio and looking at your balance that really 295 00:13:28,200 --> 00:13:31,120 Speaker 1: shouldn't even be a practice you have at all. Yeah, 296 00:13:31,120 --> 00:13:33,440 Speaker 1: So that's one sign feeling depressed when you even start 297 00:13:33,480 --> 00:13:36,520 Speaker 1: to think about money, budgeting and saving. I mean just 298 00:13:36,800 --> 00:13:38,880 Speaker 1: kind of realizing, Matt, that you have to get a 299 00:13:38,880 --> 00:13:41,600 Speaker 1: handle on things that you need to take some action, 300 00:13:41,960 --> 00:13:44,520 Speaker 1: and just getting into a funk because of it, not 301 00:13:44,600 --> 00:13:47,720 Speaker 1: being able to even make that first stab at opening 302 00:13:47,800 --> 00:13:50,480 Speaker 1: up a mint account or wine ab account to start tracking, 303 00:13:50,760 --> 00:13:53,920 Speaker 1: and just feeling a general kind of sense of malaise 304 00:13:54,040 --> 00:13:57,880 Speaker 1: when when you are trying to confront some of the 305 00:13:57,920 --> 00:14:00,360 Speaker 1: money issues that do exist in your life. That another 306 00:14:00,400 --> 00:14:03,680 Speaker 1: sign that you are financially anxious. And another one too, 307 00:14:03,800 --> 00:14:07,280 Speaker 1: is is too much emotion associated with attempts at frugality. 308 00:14:07,600 --> 00:14:10,400 Speaker 1: So if you are trying to make some frugle moves, 309 00:14:10,400 --> 00:14:13,000 Speaker 1: you're trying to cut back on subscription services, you're trying 310 00:14:13,040 --> 00:14:15,520 Speaker 1: to cut the cable cord, you're trying to lower your 311 00:14:15,640 --> 00:14:18,080 Speaker 1: your internet bill, whatever it is that you're trying to 312 00:14:18,080 --> 00:14:20,240 Speaker 1: do to to change the way you handle money and 313 00:14:20,280 --> 00:14:22,760 Speaker 1: to save money, but the way you handle it emotionally 314 00:14:23,280 --> 00:14:25,800 Speaker 1: is just a little chaotic then I would say that's 315 00:14:25,800 --> 00:14:28,960 Speaker 1: a sign that you're you're too money anxious and something 316 00:14:29,000 --> 00:14:31,280 Speaker 1: needs to change, you know, Joel. And what's interesting about 317 00:14:31,320 --> 00:14:33,560 Speaker 1: like that point too, is that a lot of those 318 00:14:33,560 --> 00:14:36,400 Speaker 1: things you talked about, you know, like cutting your subscriptions, 319 00:14:36,440 --> 00:14:38,440 Speaker 1: like finding ways to save more money, investing more like 320 00:14:38,440 --> 00:14:39,760 Speaker 1: these are all things that we talk about all the 321 00:14:39,800 --> 00:14:43,480 Speaker 1: time on the show. It's basically, maybe what we're saying 322 00:14:43,560 --> 00:14:45,600 Speaker 1: is that by listening to our show, maybe that's causing 323 00:14:45,640 --> 00:14:49,320 Speaker 1: you anxiety. So stop listening. No, that's not what we're saying. No, 324 00:14:49,400 --> 00:14:51,360 Speaker 1: that's a terrible idea. These are still good things to 325 00:14:51,400 --> 00:14:53,120 Speaker 1: know and to be aware of, right, Like, you need 326 00:14:53,160 --> 00:14:55,680 Speaker 1: to have that knowledge. But at the same time, we 327 00:14:55,720 --> 00:14:59,800 Speaker 1: need to strive after not judging our worth based on 328 00:15:00,040 --> 00:15:03,000 Speaker 1: how much we're able to reduce our expenses, how much 329 00:15:03,000 --> 00:15:05,320 Speaker 1: we're able to increase our saving. Right, it's good to 330 00:15:05,360 --> 00:15:07,800 Speaker 1: do these things. But if we are, you know, like 331 00:15:07,800 --> 00:15:09,520 Speaker 1: you said, if we're being too chaotic, if we're being 332 00:15:09,520 --> 00:15:12,520 Speaker 1: too emotional about it, if we're tying our worth to 333 00:15:12,800 --> 00:15:14,840 Speaker 1: how much of this we're actually able to get done, 334 00:15:14,880 --> 00:15:16,840 Speaker 1: if we're trying our personal worth, you know, to our 335 00:15:16,920 --> 00:15:20,400 Speaker 1: net worth, how much we actually have in the bank account. Well, like, 336 00:15:20,480 --> 00:15:23,240 Speaker 1: that's when it can become unhealthy. Right, So a lot 337 00:15:23,240 --> 00:15:24,720 Speaker 1: of the things that we're gonna talk about today are 338 00:15:24,760 --> 00:15:26,680 Speaker 1: are good things to do. So I just wanted to 339 00:15:26,720 --> 00:15:29,480 Speaker 1: mention that quickly because just to kind of reframe what 340 00:15:29,520 --> 00:15:30,840 Speaker 1: it is that we're talking about here, A lot of 341 00:15:30,840 --> 00:15:33,160 Speaker 1: the stuff that we talk about are good things, but 342 00:15:33,480 --> 00:15:36,200 Speaker 1: can always be taken to an unhealthy level. Yeah, and 343 00:15:36,200 --> 00:15:38,160 Speaker 1: there are a lot of people to Matt who are 344 00:15:38,200 --> 00:15:40,720 Speaker 1: handling their money really well, but they have an unhealthy 345 00:15:40,760 --> 00:15:45,359 Speaker 1: frugal obsession, and over frugality can really harm a relationship, 346 00:15:45,440 --> 00:15:47,600 Speaker 1: it can harm you as an individual. So, yeah, we 347 00:15:47,640 --> 00:15:50,640 Speaker 1: love frugality, but there's a balance, right that that comes 348 00:15:50,680 --> 00:15:52,440 Speaker 1: along with everything in life, and I think we try 349 00:15:52,480 --> 00:15:55,720 Speaker 1: to approach money from a balanced standpoint where we don't 350 00:15:55,800 --> 00:15:58,440 Speaker 1: want people to to cut to the bone in order 351 00:15:58,480 --> 00:16:00,800 Speaker 1: to to save a few extra dollars. There's a place 352 00:16:00,800 --> 00:16:04,240 Speaker 1: where we can approach frugality, cutting back, being thoughtful with 353 00:16:04,280 --> 00:16:06,880 Speaker 1: our money in a way that doesn't necessarily pile on 354 00:16:06,960 --> 00:16:10,480 Speaker 1: to our anxious feelings. Yeah, and so another couple maybe 355 00:16:10,560 --> 00:16:13,720 Speaker 1: symptoms of financial anxiety is maybe the opposite of what 356 00:16:13,720 --> 00:16:16,000 Speaker 1: we're talking about here instead of beings so frugal, maybe 357 00:16:16,000 --> 00:16:17,960 Speaker 1: you just don't really care anymore and you're letting others 358 00:16:18,040 --> 00:16:21,360 Speaker 1: take the reins and completely resigning yourself from even thinking 359 00:16:21,400 --> 00:16:23,960 Speaker 1: about money. Yeah, that could be a spouse, a partner, 360 00:16:24,080 --> 00:16:27,200 Speaker 1: or that could also be a financial advisor, either one 361 00:16:27,200 --> 00:16:29,400 Speaker 1: of those people. And if you're just letting the reins 362 00:16:29,440 --> 00:16:32,600 Speaker 1: go completely, that's a sign that maybe you've let money 363 00:16:32,640 --> 00:16:35,560 Speaker 1: anxiety take over the point that you've relented completely from 364 00:16:35,600 --> 00:16:37,240 Speaker 1: from even thinking about it. Yeah, and even on the 365 00:16:37,240 --> 00:16:38,960 Speaker 1: flip side of that as well, is maybe if you're 366 00:16:38,960 --> 00:16:41,560 Speaker 1: trying to take full control over all of your finances, 367 00:16:41,600 --> 00:16:44,040 Speaker 1: including the things that we don't have control over. We're 368 00:16:44,040 --> 00:16:46,240 Speaker 1: gonna talk more about that later on, but you know, again, 369 00:16:46,280 --> 00:16:48,480 Speaker 1: there's there's two sides of the coin. Another sign you 370 00:16:48,520 --> 00:16:51,040 Speaker 1: might be suffering from some financial anxiety is if you 371 00:16:51,080 --> 00:16:54,920 Speaker 1: go on some shopping spreeze when you're not feeling so great, right, Like, 372 00:16:54,960 --> 00:16:56,680 Speaker 1: if you go on these spending binges to help you 373 00:16:56,720 --> 00:16:58,680 Speaker 1: to feel a little bit better, maybe spending some money 374 00:16:58,720 --> 00:17:00,400 Speaker 1: after you've had a hard day out where or maybe 375 00:17:00,400 --> 00:17:02,560 Speaker 1: you've had an argument with your partner, or if you 376 00:17:02,560 --> 00:17:05,200 Speaker 1: find yourself spending money regularly. You know, it doesn't even 377 00:17:05,200 --> 00:17:06,479 Speaker 1: have to be a lot of money, but even if 378 00:17:06,520 --> 00:17:08,199 Speaker 1: it's a small amount, but it's something that you do 379 00:17:08,240 --> 00:17:10,119 Speaker 1: every single time to kind of lift your spirits a 380 00:17:10,119 --> 00:17:11,760 Speaker 1: little bit, that could certainly be a sign of some 381 00:17:11,880 --> 00:17:14,800 Speaker 1: financial stress. And so those are just a few examples, right, Like, 382 00:17:14,840 --> 00:17:18,240 Speaker 1: we we all let our money anxieties, uh, manifest themselves 383 00:17:18,600 --> 00:17:21,960 Speaker 1: in our lives in different ways, but it is important 384 00:17:22,000 --> 00:17:25,280 Speaker 1: to think about what ways those anxieties are triggered in 385 00:17:25,359 --> 00:17:27,320 Speaker 1: order to deal with them at all. Yeah, Matt, So, 386 00:17:27,320 --> 00:17:30,000 Speaker 1: so let's talk about some practical ways to combat the 387 00:17:30,000 --> 00:17:32,240 Speaker 1: anxiety that people might be feeling. If they realize that 388 00:17:32,320 --> 00:17:35,920 Speaker 1: some of those symptoms of money anxiety, that those were 389 00:17:36,440 --> 00:17:38,520 Speaker 1: true to form for them, that that they exist in 390 00:17:38,560 --> 00:17:41,199 Speaker 1: their life, Well, how do we start combating that? And 391 00:17:41,359 --> 00:17:42,960 Speaker 1: a few of the first things are are we well, 392 00:17:43,000 --> 00:17:45,480 Speaker 1: we need to talk about resiliency and mental health. And 393 00:17:45,560 --> 00:17:47,679 Speaker 1: first it's I think it's really important to recognize that 394 00:17:47,760 --> 00:17:51,720 Speaker 1: anxiety is normal. You gave the stat of Americans suffer 395 00:17:51,800 --> 00:17:54,560 Speaker 1: from some sort of money anxiety, and anxiety is kind 396 00:17:54,560 --> 00:17:57,360 Speaker 1: of just a part of the human condition overall. None 397 00:17:57,400 --> 00:17:59,919 Speaker 1: of us can completely avoid it, and it's helped us 398 00:17:59,920 --> 00:18:03,720 Speaker 1: to survive unprecedented things throughout our history. Right, anxiety actually 399 00:18:03,880 --> 00:18:06,679 Speaker 1: has a positive effect in some ways, it's almost a 400 00:18:06,720 --> 00:18:11,000 Speaker 1: physical necessity. But it's also important to mitigate unhelpful anxious feelings, 401 00:18:11,240 --> 00:18:14,200 Speaker 1: and so to stay active, making exercise of priority, getting 402 00:18:14,200 --> 00:18:17,280 Speaker 1: good sleep. Those physical actions can have a massive impact 403 00:18:17,320 --> 00:18:20,840 Speaker 1: on your overall ability to battle money anxiety in your life. 404 00:18:21,080 --> 00:18:23,000 Speaker 1: And Joel, it's worth mentioning right that you and I 405 00:18:23,080 --> 00:18:27,640 Speaker 1: we are not psychiatrists or psychologists, were not trained counselors here, 406 00:18:27,800 --> 00:18:29,800 Speaker 1: but a lot of what we're saying here, I believe 407 00:18:29,920 --> 00:18:32,040 Speaker 1: is something that any of those folks would say, which 408 00:18:32,080 --> 00:18:33,880 Speaker 1: is that you need to have some balance in your life. 409 00:18:33,880 --> 00:18:37,840 Speaker 1: You're talking about maintaining healthy relationships, maintaining physical health. I 410 00:18:37,840 --> 00:18:40,280 Speaker 1: think anytime we we tend to find ourselves drawn into 411 00:18:40,400 --> 00:18:44,800 Speaker 1: one specific niche or tiny little area of our life obsessively, 412 00:18:45,160 --> 00:18:48,720 Speaker 1: it can have negative effects. And so by seeking after 413 00:18:49,000 --> 00:18:51,880 Speaker 1: balance in our lives as a whole, I think that 414 00:18:52,040 --> 00:18:54,800 Speaker 1: we can all intuitively see how that could benefit us. Yeah, 415 00:18:54,840 --> 00:18:57,679 Speaker 1: you can't completely divorce the money anxieties you feel from 416 00:18:57,720 --> 00:18:59,480 Speaker 1: the other habits that you have in your life. And 417 00:18:59,520 --> 00:19:01,280 Speaker 1: if you're having a hard time with those other things. 418 00:19:01,480 --> 00:19:03,600 Speaker 1: It's gonna have an impact on the anxieties you feel 419 00:19:03,600 --> 00:19:06,040 Speaker 1: over your money. And also too, we just said anxiety 420 00:19:06,080 --> 00:19:08,239 Speaker 1: is normal, it's really important for us to recognize that 421 00:19:08,280 --> 00:19:10,320 Speaker 1: as being a normal part of our life. But too, 422 00:19:10,359 --> 00:19:12,320 Speaker 1: it's important to to give ourselves the ability to be 423 00:19:12,359 --> 00:19:15,119 Speaker 1: honest and to maybe even get mad about something that 424 00:19:15,160 --> 00:19:17,119 Speaker 1: hasn't gone our way. I'm sure that many of us 425 00:19:17,119 --> 00:19:20,000 Speaker 1: have experienced more anger or tears over the last couple 426 00:19:20,040 --> 00:19:23,560 Speaker 1: of months as we have been in lockdown mode in 427 00:19:23,600 --> 00:19:26,600 Speaker 1: our homes. It's been hard financially, it's been hard physically, 428 00:19:26,640 --> 00:19:30,320 Speaker 1: it's been hard familiarly relationally, this this whole thing is 429 00:19:30,359 --> 00:19:32,440 Speaker 1: taking a toll on so many of us. But most 430 00:19:32,480 --> 00:19:35,040 Speaker 1: of us tend to feel shame when we let our 431 00:19:35,080 --> 00:19:37,440 Speaker 1: emotions get out of control, and it's important to give 432 00:19:37,440 --> 00:19:39,399 Speaker 1: our emotions a place to exist and not just to 433 00:19:39,400 --> 00:19:41,840 Speaker 1: tamp them down below the surface, because then they're gonna 434 00:19:41,960 --> 00:19:45,600 Speaker 1: potentially boil up in kind of just unhealthy spending patterns 435 00:19:45,880 --> 00:19:48,359 Speaker 1: or unhealthy ways of looking at our finances, and not 436 00:19:48,400 --> 00:19:52,600 Speaker 1: to mention the other detrimental effects of not actually letting 437 00:19:52,600 --> 00:19:54,679 Speaker 1: our emotions out in a healthy way. If we're just 438 00:19:54,680 --> 00:19:57,920 Speaker 1: pushing them down under the surface. Something's bound to boil 439 00:19:57,960 --> 00:19:59,919 Speaker 1: over and it's going to be a more toxic of 440 00:20:00,000 --> 00:20:02,400 Speaker 1: and when that actually happens. Yeah, buddy, that's right. All 441 00:20:02,440 --> 00:20:05,080 Speaker 1: the emotions are important, just like on the on that 442 00:20:05,119 --> 00:20:07,560 Speaker 1: movie Inside Out right right, Yes, Okay, you don't want 443 00:20:07,600 --> 00:20:10,800 Speaker 1: Money Island to go crumbling. You need to have all 444 00:20:10,800 --> 00:20:13,040 Speaker 1: the emotions working together in a healthy way in order 445 00:20:13,040 --> 00:20:16,359 Speaker 1: to have a well functioning person. Another thing that we 446 00:20:16,359 --> 00:20:18,800 Speaker 1: can do as well is to accept reality. I think 447 00:20:18,840 --> 00:20:20,680 Speaker 1: it's important for us to maybe point out the obvious 448 00:20:20,680 --> 00:20:23,080 Speaker 1: here as well, uh, and that is that we have 449 00:20:23,280 --> 00:20:25,920 Speaker 1: very little control over these issues that our world is 450 00:20:25,960 --> 00:20:29,720 Speaker 1: dealing with right now. The events that are unfolding are unprecedented, 451 00:20:30,040 --> 00:20:32,320 Speaker 1: and so if we are able to accept that reality 452 00:20:32,359 --> 00:20:34,800 Speaker 1: for what it is, um that this is our life now, 453 00:20:34,960 --> 00:20:36,880 Speaker 1: or you know, at least for the time being, then 454 00:20:37,040 --> 00:20:39,359 Speaker 1: we could greatly reduce the amount of stress that is 455 00:20:39,359 --> 00:20:41,320 Speaker 1: going to be in our lives. Yeah, you're not alone, 456 00:20:41,320 --> 00:20:43,520 Speaker 1: and the reality of things sucks for so many people 457 00:20:43,600 --> 00:20:46,119 Speaker 1: right now. So kind of accepting that reality can you 458 00:20:46,280 --> 00:20:49,600 Speaker 1: have a really positive impact mentally, Matt and I think too, 459 00:20:49,640 --> 00:20:51,959 Speaker 1: it's important to note that some people really do need 460 00:20:52,040 --> 00:20:55,200 Speaker 1: to seek real mental help. Anxiety is caused, of course 461 00:20:55,240 --> 00:20:57,439 Speaker 1: by by so much more than just money issues. So 462 00:20:57,520 --> 00:21:00,200 Speaker 1: if anxiety is a consistent issue in your life, there 463 00:21:00,240 --> 00:21:02,960 Speaker 1: are resources to to help you out, so we would 464 00:21:03,000 --> 00:21:05,520 Speaker 1: recommend go see your doctor. The National Alliance on Mental 465 00:21:05,560 --> 00:21:08,760 Speaker 1: Illness also has resources on their site local resources to 466 00:21:08,800 --> 00:21:11,120 Speaker 1: help you as well help connect you to a professional. 467 00:21:11,280 --> 00:21:13,000 Speaker 1: So that's important to note too that as Matt and 468 00:21:13,000 --> 00:21:16,400 Speaker 1: I are not professionals that we're talking about money anxiety here, 469 00:21:16,600 --> 00:21:18,119 Speaker 1: there are other things that are going on in your 470 00:21:18,119 --> 00:21:20,840 Speaker 1: life in all likelihood, and we don't have the answers 471 00:21:20,840 --> 00:21:22,960 Speaker 1: to all of them, and so yes, seeking real professional 472 00:21:22,960 --> 00:21:25,200 Speaker 1: help might be where you need to turn. But Matt 473 00:21:25,240 --> 00:21:28,160 Speaker 1: and I we do have some expertise and in particular 474 00:21:28,320 --> 00:21:30,920 Speaker 1: with what you should do with your money in order 475 00:21:30,960 --> 00:21:33,280 Speaker 1: to really curb those anxieties to be able to help 476 00:21:33,320 --> 00:21:35,280 Speaker 1: you make more positive choices. And we're gonna get to 477 00:21:35,400 --> 00:21:47,440 Speaker 1: some of those things right after the break. M okay, Joel, 478 00:21:47,520 --> 00:21:50,879 Speaker 1: we're talking about money anxiety, right and we we discussed 479 00:21:50,960 --> 00:21:53,119 Speaker 1: some of the general things that we can do when 480 00:21:53,119 --> 00:21:55,399 Speaker 1: it comes to mental health and our anxiety there. But 481 00:21:55,480 --> 00:21:57,160 Speaker 1: let's go ahead now and dive into some of these 482 00:21:57,160 --> 00:21:59,480 Speaker 1: specific money things that we can do to reduce the 483 00:21:59,480 --> 00:22:02,040 Speaker 1: amount of things idea that we have surrounding our personal finances. 484 00:22:02,280 --> 00:22:03,919 Speaker 1: And the first thing that we want to cover is 485 00:22:03,960 --> 00:22:06,080 Speaker 1: to make sure that you are doing what it is 486 00:22:06,240 --> 00:22:09,560 Speaker 1: that you can do. We each have a locust of control, 487 00:22:09,840 --> 00:22:11,760 Speaker 1: and so we need to know what it is and 488 00:22:11,800 --> 00:22:14,919 Speaker 1: make changes to those specific things. Uh, it's when we 489 00:22:14,960 --> 00:22:18,240 Speaker 1: try and control the uncontrollable that's what leads to anxiety. 490 00:22:18,400 --> 00:22:20,480 Speaker 1: So maybe the downtime that you have because you're in 491 00:22:20,520 --> 00:22:22,840 Speaker 1: your home a lot more these days now is the 492 00:22:22,840 --> 00:22:25,119 Speaker 1: perfect time to create a budget or maybe you can 493 00:22:25,119 --> 00:22:28,040 Speaker 1: finally write down the why behind your money. Just don't 494 00:22:28,080 --> 00:22:31,040 Speaker 1: resign to to not do anything at all productive. That 495 00:22:31,119 --> 00:22:34,199 Speaker 1: sort of procrastination, not putting off of things that we 496 00:22:34,280 --> 00:22:36,920 Speaker 1: know that we need to do, that can compound the 497 00:22:36,960 --> 00:22:39,280 Speaker 1: anxieties that we are currently feeling. Yeah, man, I think 498 00:22:39,280 --> 00:22:41,000 Speaker 1: if you've got along to do list and it's Saturday 499 00:22:41,040 --> 00:22:43,840 Speaker 1: afternoon and you instead decided to watch five hours of 500 00:22:43,840 --> 00:22:46,720 Speaker 1: Tiger King on Netflix, You're gonna feel even worse about 501 00:22:46,720 --> 00:22:48,520 Speaker 1: that to do list. When you're done, it's not gonna 502 00:22:48,520 --> 00:22:50,320 Speaker 1: feel good. And so, yeah, doing what you can do 503 00:22:50,520 --> 00:22:53,719 Speaker 1: taking some steps in the right direction is huge. It's 504 00:22:53,760 --> 00:22:56,280 Speaker 1: also important to reframe things and to serve other people. 505 00:22:56,640 --> 00:22:58,879 Speaker 1: It's easy, I think, to wallow in our own grief 506 00:22:58,960 --> 00:23:00,760 Speaker 1: in a time like this and partu killer, but there 507 00:23:00,760 --> 00:23:02,920 Speaker 1: are others out there who have it harder than we do, 508 00:23:03,080 --> 00:23:04,960 Speaker 1: and I think it's important right that we give ourselves 509 00:23:05,000 --> 00:23:07,200 Speaker 1: the ability to be honest. Like we said earlier, we're 510 00:23:07,200 --> 00:23:11,000 Speaker 1: not trying to minimize your situation by reframing things, but 511 00:23:11,280 --> 00:23:14,200 Speaker 1: by reframing and considering what's good about where you are, 512 00:23:14,520 --> 00:23:17,800 Speaker 1: that can improve your current outlook and can help manage 513 00:23:17,840 --> 00:23:20,120 Speaker 1: some of those anxieties, right and so so helping those 514 00:23:20,160 --> 00:23:23,000 Speaker 1: in your community, your your neighbors, people are in the 515 00:23:23,040 --> 00:23:25,520 Speaker 1: hardest situations right now. That'll give you a sense of 516 00:23:25,520 --> 00:23:28,280 Speaker 1: purpose in hard times like this. It's almost like counting 517 00:23:28,320 --> 00:23:31,080 Speaker 1: your blessings. Basically, even though you might have it hard, 518 00:23:31,240 --> 00:23:33,280 Speaker 1: there are certainly people out there who have it even 519 00:23:33,320 --> 00:23:36,040 Speaker 1: harder than you, and so acknowledging what is good is 520 00:23:36,080 --> 00:23:38,920 Speaker 1: so helpful right now? Yeah, certainly, man, You know, by 521 00:23:38,960 --> 00:23:41,879 Speaker 1: reframing your situation and serving others, that might allow you 522 00:23:41,920 --> 00:23:45,080 Speaker 1: to maybe even completely flip your perspective right, and that's 523 00:23:45,080 --> 00:23:46,920 Speaker 1: when you'd realize that you've actually got it pretty good. 524 00:23:47,320 --> 00:23:49,760 Speaker 1: Another thing that we'd recommend for folks to do is 525 00:23:49,800 --> 00:23:52,320 Speaker 1: to make sure you have some time set aside to 526 00:23:52,560 --> 00:23:55,760 Speaker 1: work on these money related issues. Sometimes the anxiety that 527 00:23:55,800 --> 00:23:58,600 Speaker 1: we feel towards our money like that can build because 528 00:23:58,640 --> 00:24:02,760 Speaker 1: we haven't created a rhythm for handling budgeting or maybe expenses, 529 00:24:02,800 --> 00:24:05,360 Speaker 1: bill paying things like that. Because we don't pay much attention, 530 00:24:05,680 --> 00:24:08,320 Speaker 1: there's this sort of, you know, this nagging sensation in 531 00:24:08,359 --> 00:24:10,439 Speaker 1: the back of our minds all the time. I like 532 00:24:10,480 --> 00:24:12,240 Speaker 1: to think of it as this kind of constant drip. 533 00:24:12,600 --> 00:24:14,920 Speaker 1: So if you can create weekly counter space to deal with, 534 00:24:15,280 --> 00:24:18,160 Speaker 1: you know, these regular money tasks, then it will help 535 00:24:18,200 --> 00:24:20,960 Speaker 1: to curb that nagging feeling that you have throughout the 536 00:24:20,960 --> 00:24:23,719 Speaker 1: week because you know that you'll get it handled at 537 00:24:23,720 --> 00:24:26,080 Speaker 1: the appropriate time and you can still watch Tiger King 538 00:24:26,080 --> 00:24:28,120 Speaker 1: at the appropriate time too, if that's what you're into. 539 00:24:28,200 --> 00:24:29,880 Speaker 1: That's twice now that you've mentioned that, have you been 540 00:24:29,920 --> 00:24:32,000 Speaker 1: watching now? So we watched the first episode and I 541 00:24:32,000 --> 00:24:33,760 Speaker 1: was like, I can't keep going this, I can't do it. 542 00:24:33,840 --> 00:24:37,119 Speaker 1: I know it's everybody's obsession, but it's a little It 543 00:24:37,240 --> 00:24:39,359 Speaker 1: was like a month ago. I feel like we're a 544 00:24:39,400 --> 00:24:41,159 Speaker 1: little behind the time. That's a good point. Yeah, we are. 545 00:24:41,240 --> 00:24:43,680 Speaker 1: We are a little laid on the uptake on that one. Okay, well, 546 00:24:43,720 --> 00:24:45,560 Speaker 1: on that note, so during the quarantine, you know what, 547 00:24:45,640 --> 00:24:47,800 Speaker 1: Kate and I have actually been doing a little rabbit 548 00:24:47,800 --> 00:24:49,879 Speaker 1: trail that we're going down here. But we have watched 549 00:24:49,880 --> 00:24:51,800 Speaker 1: some of the Marvel movies, right, but we've never been 550 00:24:51,800 --> 00:24:53,639 Speaker 1: able to really piece them all together because we're not 551 00:24:53,960 --> 00:24:58,280 Speaker 1: super uber nerds. But we're fixing that. One of our 552 00:24:58,320 --> 00:25:01,480 Speaker 1: friends posted this infographic, uh and it shows all of 553 00:25:01,480 --> 00:25:04,240 Speaker 1: the Marvel movies and specifically the order that you're supposed 554 00:25:04,280 --> 00:25:06,159 Speaker 1: to watch them in. Uh. And it's not based on 555 00:25:06,200 --> 00:25:08,199 Speaker 1: the order that they came out, but it's the order 556 00:25:08,280 --> 00:25:12,280 Speaker 1: that these events transpire, the chronological the Marvel Comic Universe, 557 00:25:12,359 --> 00:25:15,600 Speaker 1: got or no, it's Marvel Cinematic Universe. I gotta get 558 00:25:15,640 --> 00:25:18,439 Speaker 1: that right, otherwise I'm gonna lose my cred. But the 559 00:25:18,680 --> 00:25:21,359 Speaker 1: but the m c U. And we've really been enjoying it. 560 00:25:21,440 --> 00:25:22,840 Speaker 1: You know, a lot of folks might think this is 561 00:25:22,920 --> 00:25:26,840 Speaker 1: kind of silly, right because it's superheroes, But man, we 562 00:25:26,880 --> 00:25:29,760 Speaker 1: have really found enjoyable in this time where we're kind 563 00:25:29,760 --> 00:25:32,200 Speaker 1: of we are inundated by the news and just the 564 00:25:32,200 --> 00:25:34,919 Speaker 1: harsh realities that we're being faced with. But you know, 565 00:25:34,920 --> 00:25:37,000 Speaker 1: we're talking about making sure that we're taking care of 566 00:25:37,000 --> 00:25:39,640 Speaker 1: our financial business. But that's something that we've done. We 567 00:25:39,640 --> 00:25:41,639 Speaker 1: we have the calendar alerts set we you know, we 568 00:25:41,680 --> 00:25:44,480 Speaker 1: have dedicated times that we have meetings, We have processes 569 00:25:44,520 --> 00:25:46,879 Speaker 1: that we go through when it comes to communicating about 570 00:25:46,880 --> 00:25:49,919 Speaker 1: our money. And so that allows us to take Friday 571 00:25:50,000 --> 00:25:51,520 Speaker 1: night and make sure that we watch a movie and 572 00:25:51,600 --> 00:25:53,600 Speaker 1: for it to feel like the weekend because all the 573 00:25:53,680 --> 00:25:55,920 Speaker 1: days feel the same. Let's just be honest. Okay, you 574 00:25:55,960 --> 00:25:58,680 Speaker 1: can guilt free, do it exactly if you if you've 575 00:25:58,680 --> 00:26:01,200 Speaker 1: already have those other things in place, totally name. That's awesome, 576 00:26:01,200 --> 00:26:04,639 Speaker 1: all right, nerd. Well, let's move on. So another I 577 00:26:04,680 --> 00:26:06,840 Speaker 1: think thing that can help people as they're dealing with 578 00:26:06,880 --> 00:26:10,320 Speaker 1: money anxiety is to talk to someone else. Sometimes we're 579 00:26:10,359 --> 00:26:12,880 Speaker 1: just anxious, right because we feel they need to be heard, 580 00:26:13,200 --> 00:26:15,040 Speaker 1: and talking to a friend our partner can can help 581 00:26:15,080 --> 00:26:17,480 Speaker 1: us get our concerns on the table, can help us 582 00:26:17,560 --> 00:26:19,160 Speaker 1: kind of put some of those anxieties in the light. 583 00:26:19,200 --> 00:26:20,840 Speaker 1: And sometimes they just need to face the light of 584 00:26:20,920 --> 00:26:23,879 Speaker 1: day right, and that alone can help us feel better 585 00:26:24,040 --> 00:26:27,840 Speaker 1: as someone walks alongside us in our anxieties. And Matt two, 586 00:26:27,840 --> 00:26:30,000 Speaker 1: we mentioned that there are other resources. Well, there are 587 00:26:30,000 --> 00:26:33,120 Speaker 1: some free mental health resources that USA Today documented. Will 588 00:26:33,160 --> 00:26:35,119 Speaker 1: put a link to that uh in the show notes. 589 00:26:35,440 --> 00:26:37,760 Speaker 1: But there are also discounts to popular apps like talk 590 00:26:37,760 --> 00:26:40,360 Speaker 1: Space and better Help Right Now. Other times, though, we 591 00:26:40,359 --> 00:26:43,320 Speaker 1: we need expert advice from someone who knows what they're 592 00:26:43,320 --> 00:26:47,560 Speaker 1: talking about. Right, It's not necessarily just telling a best friend. Well, 593 00:26:47,960 --> 00:26:49,600 Speaker 1: you actually know what you're talking about, Matt, So telling 594 00:26:49,600 --> 00:26:51,280 Speaker 1: the best friend would be helpful in that situation. But 595 00:26:51,280 --> 00:26:53,000 Speaker 1: other people, maybe their best friend doesn't know a whole 596 00:26:53,040 --> 00:26:55,600 Speaker 1: lot about money, so it's not super helpful. Well, that's 597 00:26:55,640 --> 00:26:58,159 Speaker 1: what's great about not for profit credit counseling. You'll have 598 00:26:58,240 --> 00:27:00,520 Speaker 1: the ear of someone who cares and can leave gitimately 599 00:27:00,600 --> 00:27:03,080 Speaker 1: help you in fcc dot org is one of the 600 00:27:03,119 --> 00:27:05,520 Speaker 1: websites you know you and I have recommended that people 601 00:27:05,520 --> 00:27:08,080 Speaker 1: go to for not for profit credit counseling. And actually 602 00:27:08,080 --> 00:27:10,920 Speaker 1: on Monday's episode, this coming Monday, we're gonna talk with 603 00:27:11,119 --> 00:27:13,879 Speaker 1: a friend who works in a credit counseling organization. His 604 00:27:13,960 --> 00:27:16,399 Speaker 1: name is Thomas Nichie, and he'll have some really helpful 605 00:27:16,440 --> 00:27:19,840 Speaker 1: information to share, especially if you are suffering from debt, 606 00:27:19,880 --> 00:27:21,920 Speaker 1: and if it's debt that's causing a lot of your 607 00:27:21,960 --> 00:27:24,080 Speaker 1: money anxieties. Right now, I think that's gonna be a 608 00:27:24,080 --> 00:27:25,760 Speaker 1: great episode, Matt. I can't wait to share that one 609 00:27:25,840 --> 00:27:29,480 Speaker 1: with everybody. Another recommendation that we have is to compare less. 610 00:27:29,760 --> 00:27:32,960 Speaker 1: Comparison is the enemy of personal progress, and so we 611 00:27:33,000 --> 00:27:36,080 Speaker 1: would recommend you not to do that. Do not compare 612 00:27:36,080 --> 00:27:39,080 Speaker 1: your life to those around you. Comparing our situation to 613 00:27:39,119 --> 00:27:42,720 Speaker 1: those around us, like, that's gonna inevitably lead to more anxiety. 614 00:27:43,040 --> 00:27:45,080 Speaker 1: And when we do that, we're often holding up a 615 00:27:45,119 --> 00:27:48,000 Speaker 1: false reality, you know, like the facade of our friends lies, 616 00:27:48,440 --> 00:27:51,159 Speaker 1: like from our vantage point, it's not the reality of 617 00:27:51,200 --> 00:27:53,800 Speaker 1: what they are actually dealing with. A lot of us 618 00:27:53,840 --> 00:27:56,840 Speaker 1: like to share our lives, the better part of our 619 00:27:56,840 --> 00:27:58,800 Speaker 1: lives on social media, right like, whether that be on 620 00:27:58,840 --> 00:28:02,040 Speaker 1: Facebook or on this Agram. But believe me, do not 621 00:28:02,080 --> 00:28:06,159 Speaker 1: believe those instagram live Like everybody knows that that is 622 00:28:06,200 --> 00:28:08,720 Speaker 1: just the highlight reel is is often how it's touted. 623 00:28:08,880 --> 00:28:10,840 Speaker 1: But it's hard to remind ourselves of that in the 624 00:28:10,920 --> 00:28:12,920 Speaker 1: moment when you're kind of sit there stuck at home, 625 00:28:13,280 --> 00:28:15,480 Speaker 1: you know, doing whatever it is that you're trying to 626 00:28:15,520 --> 00:28:17,840 Speaker 1: avoid doing because you're on your phone on Instagram or 627 00:28:17,880 --> 00:28:19,240 Speaker 1: something like that, or you're up in the middle of 628 00:28:19,280 --> 00:28:21,600 Speaker 1: the night with a crime baby scrolling through Instagram and 629 00:28:21,600 --> 00:28:25,160 Speaker 1: you're like, I hate these other people. Well, the good 630 00:28:25,200 --> 00:28:27,119 Speaker 1: news at least, though, is that people aren't, you know, 631 00:28:27,160 --> 00:28:32,040 Speaker 1: posting pictures of themselves climbing some beautiful mountain or you know, 632 00:28:32,240 --> 00:28:35,240 Speaker 1: some exotic vacation, because people aren't doing that quite as much. 633 00:28:35,480 --> 00:28:39,760 Speaker 1: But regardless, it's easy to envy somebody else's life, regardless 634 00:28:39,800 --> 00:28:41,320 Speaker 1: of what you're currently going through. You know, like you 635 00:28:41,400 --> 00:28:43,960 Speaker 1: might see their perfectly decorated home and all their house 636 00:28:43,960 --> 00:28:45,840 Speaker 1: plants that they have because they're spending all their time 637 00:28:45,880 --> 00:28:48,480 Speaker 1: now at home, and you think, oh man, all my 638 00:28:48,560 --> 00:28:51,720 Speaker 1: house plants look like they're dying and all those house 639 00:28:51,720 --> 00:28:55,640 Speaker 1: plants look great. That idealized life can take all different forms, 640 00:28:55,800 --> 00:28:58,240 Speaker 1: especially given the time that we're in now. Yeah, for sure, 641 00:28:58,280 --> 00:29:00,640 Speaker 1: sometimes there's something really small they kind of can take root, 642 00:29:00,920 --> 00:29:02,840 Speaker 1: just as we see kind of how somebody else's live 643 00:29:02,840 --> 00:29:04,760 Speaker 1: in life and we're jealous of it, and that can 644 00:29:04,800 --> 00:29:07,000 Speaker 1: have Yeah, just a big impact on how anxious we 645 00:29:07,040 --> 00:29:09,760 Speaker 1: start to feel, especially when it becomes like a possession 646 00:29:09,840 --> 00:29:12,959 Speaker 1: arms race, which is always unhelpful. But yeah, another important 647 00:29:13,000 --> 00:29:15,200 Speaker 1: thing to do to combat money anxiety is to take 648 00:29:15,200 --> 00:29:17,680 Speaker 1: baby steps. We mentioned just a little bit ago, doing 649 00:29:17,680 --> 00:29:20,200 Speaker 1: what you can do well. Rome wasn't built in a day, 650 00:29:20,360 --> 00:29:23,760 Speaker 1: and working towards the elimination of money anxiety overnight is 651 00:29:23,760 --> 00:29:27,800 Speaker 1: gonna also prove fruitless for you. So we would suggest 652 00:29:27,840 --> 00:29:30,520 Speaker 1: that you do as much as you can to accumulate 653 00:29:30,640 --> 00:29:34,040 Speaker 1: a series of small victories and then enjoy those winds 654 00:29:34,680 --> 00:29:36,800 Speaker 1: then come back for more. Right, So, like a one 655 00:29:36,840 --> 00:29:39,480 Speaker 1: percent increase in your four oh one k allocation, that's 656 00:29:39,480 --> 00:29:42,080 Speaker 1: a big win. Just sitting down and creating that budget, 657 00:29:42,320 --> 00:29:45,600 Speaker 1: or eliminating one bill from your life because you decided 658 00:29:45,640 --> 00:29:47,960 Speaker 1: you didn't need it anymore. You didn't need that monthly 659 00:29:48,000 --> 00:29:49,840 Speaker 1: bill in your life, you didn't need the service. Well, 660 00:29:49,880 --> 00:29:52,320 Speaker 1: that is a win and you should celebrate it, and 661 00:29:52,400 --> 00:29:54,720 Speaker 1: so those baby steps can be huge. Another one would 662 00:29:54,720 --> 00:29:56,880 Speaker 1: be like hitting that two thousand, four hundred and sixty 663 00:29:56,880 --> 00:29:59,880 Speaker 1: seven dollars in an emergency fund. Right, that's another win, 664 00:30:00,080 --> 00:30:02,520 Speaker 1: And all of those things really do help to quell 665 00:30:02,600 --> 00:30:05,200 Speaker 1: those money anxieties that that easily rear their head, and 666 00:30:05,560 --> 00:30:07,160 Speaker 1: uh it's it's like whack a mole, man, you can 667 00:30:07,160 --> 00:30:09,320 Speaker 1: pop them down as you do start to accomplish some 668 00:30:09,360 --> 00:30:11,560 Speaker 1: of those baby steps that are that are really meaningful. Well, 669 00:30:11,640 --> 00:30:14,400 Speaker 1: you just mentioned that emergency fund, right, that two thousand, 670 00:30:14,440 --> 00:30:17,000 Speaker 1: four undred sixty seven dollars. Let's go ahead and highlight 671 00:30:17,000 --> 00:30:20,200 Speaker 1: that though, because uh man, that is hyper practical, like 672 00:30:20,240 --> 00:30:23,080 Speaker 1: that is something that all of us can do, regardless 673 00:30:23,120 --> 00:30:24,760 Speaker 1: of the stage of life that we're in, if we 674 00:30:24,800 --> 00:30:27,120 Speaker 1: did not already have an emergency fund set up, because 675 00:30:27,200 --> 00:30:30,120 Speaker 1: let's be honest, without some you know, financial margin in 676 00:30:30,160 --> 00:30:32,720 Speaker 1: our lives, it's gonna be really hard for us to 677 00:30:32,760 --> 00:30:35,800 Speaker 1: completely stave off these money anxieties. When you don't have margin, 678 00:30:35,800 --> 00:30:38,880 Speaker 1: when you don't have a cushion between you know, when 679 00:30:38,920 --> 00:30:40,480 Speaker 1: your life looks good and when you when your life 680 00:30:40,480 --> 00:30:43,280 Speaker 1: looks bad, well, then you're gonna constantly be flipping from 681 00:30:43,360 --> 00:30:44,920 Speaker 1: good to bad, good to bad, good to bad. Right 682 00:30:45,080 --> 00:30:47,520 Speaker 1: if you're always centered around that bank balance at close 683 00:30:47,520 --> 00:30:49,560 Speaker 1: to zero and you're not sure if you're gonna face 684 00:30:49,680 --> 00:30:52,000 Speaker 1: withdraw penalty because you took out too much more than 685 00:30:52,040 --> 00:30:54,760 Speaker 1: you had, Yeah, that's a that's a really anxiety inducing 686 00:30:54,880 --> 00:30:56,680 Speaker 1: state to live in. Yeah, Essentially, you want to give 687 00:30:56,680 --> 00:30:58,600 Speaker 1: yourself some breathing room when it comes to your finances. 688 00:30:58,680 --> 00:31:02,960 Speaker 1: And so actually funding that emergency fund, that cushion, uh 689 00:31:03,000 --> 00:31:04,760 Speaker 1: that you know you need, can that can go a 690 00:31:04,760 --> 00:31:07,920 Speaker 1: long way to actually alleviating some of the anxiety that 691 00:31:07,960 --> 00:31:10,720 Speaker 1: you feel towards your money. Yeah, for sure, getting that 692 00:31:10,800 --> 00:31:14,040 Speaker 1: the fund is a huge first step. It creates that 693 00:31:14,080 --> 00:31:16,000 Speaker 1: margin and it makes it far less likely you're going 694 00:31:16,080 --> 00:31:20,680 Speaker 1: to be living on that anxious edge of the financial precipice. So, yeah, Matt, 695 00:31:20,800 --> 00:31:23,200 Speaker 1: I mean anxiety and worry they have a place in 696 00:31:23,240 --> 00:31:26,640 Speaker 1: our lives, right, There is a necessary human benefit to 697 00:31:27,080 --> 00:31:30,560 Speaker 1: enduring anxiety. Neither anxiety nor worry are wholly bad in 698 00:31:30,560 --> 00:31:32,600 Speaker 1: and of themselves, and in fact they're they're kind of 699 00:31:32,600 --> 00:31:36,120 Speaker 1: basic human instincts, but many of us live with them 700 00:31:36,160 --> 00:31:39,560 Speaker 1: as constant companions, and they seem to infiltrate every single 701 00:31:39,600 --> 00:31:41,520 Speaker 1: area of our life. And money is one of them 702 00:31:41,560 --> 00:31:43,960 Speaker 1: in which they can rear their ugly head the most, 703 00:31:44,320 --> 00:31:46,520 Speaker 1: and that is not what they're meant to do. And 704 00:31:46,560 --> 00:31:48,840 Speaker 1: you can develop a positive relationship with money. You can 705 00:31:48,880 --> 00:31:51,200 Speaker 1: kind of flip the script. You can change things around, 706 00:31:51,360 --> 00:31:53,880 Speaker 1: you can get rid of the constant, nagging anxieties that 707 00:31:53,960 --> 00:31:57,600 Speaker 1: plague you. It's gonna take some proactive measures, some intentionality, 708 00:31:57,800 --> 00:32:00,400 Speaker 1: but in the end, taking steps to reduce the anxiety 709 00:32:00,400 --> 00:32:02,240 Speaker 1: in your life will improve your mental health and it 710 00:32:02,280 --> 00:32:05,160 Speaker 1: will ensure that you end up saving more and interact 711 00:32:05,240 --> 00:32:08,080 Speaker 1: with money issues in a much more positive way. So 712 00:32:08,160 --> 00:32:11,040 Speaker 1: hopefully this episode was able to give people some insight 713 00:32:11,080 --> 00:32:13,320 Speaker 1: into kind of what causes financial anxiety and then some 714 00:32:13,360 --> 00:32:15,760 Speaker 1: practical steps to be able to at least partially with 715 00:32:15,920 --> 00:32:19,000 Speaker 1: themselves of some of those anxieties that that are plaguing them. 716 00:32:19,000 --> 00:32:21,480 Speaker 1: Because yeah, I know so many more people are feeling 717 00:32:21,520 --> 00:32:24,520 Speaker 1: financially anxious right now, and I hate hearing that. Yeah, man, 718 00:32:24,600 --> 00:32:27,160 Speaker 1: so many of us are are dealing with these anxieties, 719 00:32:27,280 --> 00:32:29,120 Speaker 1: and I think that's what's important as well to note 720 00:32:29,200 --> 00:32:31,240 Speaker 1: is that if you are feeling this, if you have 721 00:32:31,360 --> 00:32:34,680 Speaker 1: these emotions, you're not alone. And so again, hopefully, yeah, 722 00:32:34,720 --> 00:32:37,280 Speaker 1: you're able to find some directions some help from this episode. 723 00:32:37,280 --> 00:32:39,200 Speaker 1: All right, buddy, let's go ahead and steer back to 724 00:32:39,280 --> 00:32:42,000 Speaker 1: the beer that we had on this one. We shared 725 00:32:42,120 --> 00:32:45,560 Speaker 1: a sour opal. This is an American wild Ale by 726 00:32:45,680 --> 00:32:48,760 Speaker 1: Firestone Walker Brewing Companies sent to us by our buddy Josh. 727 00:32:49,160 --> 00:32:50,959 Speaker 1: What were your thoughts on this one, buddy? Yeah, man, 728 00:32:51,000 --> 00:32:54,479 Speaker 1: so I thought this one was, of course, very tasty. 729 00:32:54,520 --> 00:32:57,480 Speaker 1: I love me a good wild ale, and Firestone Walker 730 00:32:57,520 --> 00:32:59,800 Speaker 1: has been making some really good ones in recent years. 731 00:33:00,120 --> 00:33:01,920 Speaker 1: This one has a lot of similarities to some of 732 00:33:01,960 --> 00:33:05,080 Speaker 1: my favorite Belgian Goose is A Goose is kind of 733 00:33:05,120 --> 00:33:08,360 Speaker 1: this beer that is aged for different lengths of time 734 00:33:08,560 --> 00:33:11,680 Speaker 1: and then it's blended together to make just this fantastic 735 00:33:11,800 --> 00:33:15,080 Speaker 1: oak aged concoction of a beer. It's tart, it's complex, 736 00:33:15,080 --> 00:33:17,880 Speaker 1: and it's funky and and so this one in particular 737 00:33:17,960 --> 00:33:20,560 Speaker 1: just really had a lot of those flavors going on, 738 00:33:20,640 --> 00:33:23,040 Speaker 1: which that's one of my all time favorite beer styles. 739 00:33:23,200 --> 00:33:24,880 Speaker 1: And I feel like fire Stone Walker hit the nail 740 00:33:24,920 --> 00:33:26,520 Speaker 1: on the head with this one. It's a really delicious 741 00:33:26,520 --> 00:33:29,080 Speaker 1: take on that style. There's some nice oak flavors coming 742 00:33:29,120 --> 00:33:31,680 Speaker 1: through to go along with that tartness and a little 743 00:33:31,680 --> 00:33:34,560 Speaker 1: bit of sweetness. So yeah, man, I really really enjoyed 744 00:33:34,600 --> 00:33:36,719 Speaker 1: this one. Nice. I'm glad you like this one, man, 745 00:33:36,760 --> 00:33:40,000 Speaker 1: because I definitely did as well. Wait we poured it. 746 00:33:40,000 --> 00:33:42,040 Speaker 1: There's this kind of blonde color, so I guess technically 747 00:33:42,040 --> 00:33:44,640 Speaker 1: you can call it a blonde sour, but this was 748 00:33:44,800 --> 00:33:47,320 Speaker 1: so good. It had that perfect balance between Like the 749 00:33:47,320 --> 00:33:49,200 Speaker 1: first thing I noticed was a kind of sweet candied 750 00:33:49,200 --> 00:33:51,680 Speaker 1: apricot sort of flavors going on, But that coupled with 751 00:33:51,720 --> 00:33:55,240 Speaker 1: the bright acidity with it being a sour, kind of 752 00:33:55,280 --> 00:33:57,320 Speaker 1: added some balance and some nuance to it. But then 753 00:33:57,360 --> 00:33:59,320 Speaker 1: on top of that you mix in the toasted, woody 754 00:33:59,640 --> 00:34:01,680 Speaker 1: kind of aerial notes. I read on the bottle too. 755 00:34:01,960 --> 00:34:04,080 Speaker 1: It said there's like a hint of toasted coconut as well, 756 00:34:04,080 --> 00:34:05,719 Speaker 1: which I feel like you could totally pick up on. 757 00:34:06,120 --> 00:34:08,120 Speaker 1: And so it rounds itself out with all these sort 758 00:34:08,160 --> 00:34:10,879 Speaker 1: of flavor points and it does it so stinking well. 759 00:34:10,960 --> 00:34:13,360 Speaker 1: Like earlier, you know, we're talking about making sure that 760 00:34:13,360 --> 00:34:15,839 Speaker 1: you stay healthy, like kind of maintain balance in your 761 00:34:15,840 --> 00:34:17,759 Speaker 1: own life and make sure you don't go in one 762 00:34:17,800 --> 00:34:20,279 Speaker 1: direction like too hard, too heavy. I feel like this 763 00:34:20,360 --> 00:34:23,720 Speaker 1: is like the perfect beer example. Like this our opal 764 00:34:24,080 --> 00:34:27,200 Speaker 1: is so balanced in all these wonderful aspects that bring 765 00:34:27,320 --> 00:34:29,560 Speaker 1: just so much flavor, and they just do it so 766 00:34:29,600 --> 00:34:33,400 Speaker 1: well man Firestone Walker, Like they remind me of Cascade 767 00:34:33,880 --> 00:34:35,799 Speaker 1: as well as the brewery. It seems like a lot 768 00:34:35,800 --> 00:34:39,120 Speaker 1: of these West Coast breweries just have fantastic American wild 769 00:34:39,440 --> 00:34:42,200 Speaker 1: barrel aged wild beers programs going on. And so I'm 770 00:34:42,200 --> 00:34:43,560 Speaker 1: glad we got to share this one. I would have 771 00:34:43,640 --> 00:34:46,560 Speaker 1: much preferred to have had my very own bottle of 772 00:34:46,640 --> 00:34:48,560 Speaker 1: this one instead of sharing it with you, But yeah, 773 00:34:48,640 --> 00:34:50,360 Speaker 1: glad we got to have this one on the show, buddy. Yeah, man, 774 00:34:50,400 --> 00:34:52,400 Speaker 1: it was delicious. You know what, I'd rather share with 775 00:34:52,440 --> 00:34:56,520 Speaker 1: you than have my own, though so unselfish, really, you 776 00:34:56,520 --> 00:34:59,160 Speaker 1: would rather have half of a good beer than one 777 00:34:59,200 --> 00:35:01,280 Speaker 1: of your own very good beer. I do like drinking 778 00:35:01,320 --> 00:35:03,319 Speaker 1: a beer with a good friend. But no, I lie, 779 00:35:03,320 --> 00:35:04,560 Speaker 1: I would take it. I'm just trying to make you 780 00:35:04,560 --> 00:35:07,239 Speaker 1: look bad because we're drinking the exact same thing. You 781 00:35:07,280 --> 00:35:10,480 Speaker 1: know that, like one of ours isn't tainted. I guess, well, 782 00:35:10,560 --> 00:35:12,600 Speaker 1: certainly better to share one than to not have one 783 00:35:12,680 --> 00:35:14,799 Speaker 1: at all, that's true. But all right, man, I think 784 00:35:14,920 --> 00:35:17,719 Speaker 1: that is going to be it for this episode. Listeners 785 00:35:17,719 --> 00:35:19,360 Speaker 1: can find our show notes up on the website at 786 00:35:19,400 --> 00:35:21,759 Speaker 1: how some money dot com. We'll have some links there 787 00:35:21,760 --> 00:35:24,239 Speaker 1: to some of the information, some of the resources that 788 00:35:24,280 --> 00:35:27,040 Speaker 1: we mentioned today. Yeah, for folks that are listening, who 789 00:35:27,040 --> 00:35:29,239 Speaker 1: have been listening for a while. Well, we would really 790 00:35:29,280 --> 00:35:31,520 Speaker 1: appreciate it if you leave a five star review on 791 00:35:31,680 --> 00:35:33,759 Speaker 1: iTunes if you like our show, and you know what, 792 00:35:33,800 --> 00:35:36,320 Speaker 1: if you have some constructive criticism to share, well you 793 00:35:36,360 --> 00:35:37,960 Speaker 1: can go to how the Money dot com slash do 794 00:35:38,040 --> 00:35:39,960 Speaker 1: Better and drop us a line. And you know what, 795 00:35:40,000 --> 00:35:41,600 Speaker 1: Matt and I read all those emails and they really 796 00:35:41,600 --> 00:35:43,799 Speaker 1: help us hone the show to be better. So we 797 00:35:43,800 --> 00:35:46,640 Speaker 1: we really do appreciate your feedback if you go to 798 00:35:46,640 --> 00:35:48,319 Speaker 1: the website and leave some for us. Yeah we want 799 00:35:48,320 --> 00:35:50,440 Speaker 1: to do better, Yeah we do. All right man, Well 800 00:35:50,480 --> 00:35:53,320 Speaker 1: that's it, So until next time, Best friends out, Best 801 00:35:53,440 --> 00:36:02,600 Speaker 1: Friends Out. M