WEBVTT - Grit: The Number One Factor in Winning with Your Money #347 0:00:00.080 --> 0:00:02.440 Welcome to How the Money. I'm Joel and I and 0:00:02.600 --> 0:00:05.640 Matt and today we're talking about grit, the number one 0:00:05.680 --> 0:00:27.160 factor in winning with your money. Dude, I am really 0:00:27.160 --> 0:00:28.880 looking forward to this episode. You know, we've been talking 0:00:28.880 --> 0:00:31.120 about grit for a while now. This is this episode 0:00:31.120 --> 0:00:33.080 actually is going to be kind of loosely based on 0:00:33.159 --> 0:00:38.320 Angela Duckworth's book Apthlete titled Grit. But it's such a 0:00:38.360 --> 0:00:40.720 fascinating book. We would definitely recommend it for anybody out 0:00:40.760 --> 0:00:42.480 there who has not yet read it. But we're gonna 0:00:42.479 --> 0:00:44.760 be talking about grit in the context of our money, 0:00:45.159 --> 0:00:46.600 the different things that we need to make sure that 0:00:46.640 --> 0:00:49.080 we're doing when it comes to our personal finances to 0:00:49.280 --> 0:00:51.920 ensure that we're getting ahead, that we're actually reaching those goals. 0:00:52.120 --> 0:00:54.640 And we really do think grit is the number one factor. 0:00:54.680 --> 0:00:57.040 And we're gonna talk about the other factors of financial 0:00:57.040 --> 0:01:00.320 success and how grit actually is more meaningful old then 0:01:00.360 --> 0:01:02.160 a lot of the other things you might assume are 0:01:02.280 --> 0:01:04.280 number one. Yeah, we definitely feel that it trumps them 0:01:04.280 --> 0:01:06.240 for sure. Ye. Well, before we get to that, man, 0:01:06.240 --> 0:01:07.720 I wanted to let you know I found something out 0:01:07.720 --> 0:01:09.400 the other day and I didn't realize this, which is 0:01:09.440 --> 0:01:12.920 interesting because I used the Libby app quite quite frequently. 0:01:12.920 --> 0:01:15.240 It's they were big fans. Yes, the library app, where 0:01:15.240 --> 0:01:17.800 you can listen to audio books or you can get 0:01:17.800 --> 0:01:20.440 e books directly in your hands on your phone for free. 0:01:20.640 --> 0:01:23.400 You can borrow that stuff from your local library system, 0:01:23.440 --> 0:01:25.760 and so I listened to a lot of audio books 0:01:25.880 --> 0:01:28.640 on there. But there's something I didn't realize that the 0:01:28.680 --> 0:01:31.680 library offered through the Libby app until just the other day, 0:01:31.720 --> 0:01:34.039 and I don't know how I was missing this. There 0:01:34.080 --> 0:01:36.160 was a magazine that I wanted to subscribe to. I 0:01:36.160 --> 0:01:39.039 looked it up. It was fifteen bucks a year in 0:01:39.160 --> 0:01:41.320 order to get the physical copy, or fifteen bucks a 0:01:41.400 --> 0:01:43.000 year to get the digital copy, or I could pay 0:01:43.040 --> 0:01:44.920 twenty bucks a year and get both. And I was like, 0:01:45.040 --> 0:01:48.320 that's not bad, and the magazine has a really cool 0:01:48.360 --> 0:01:50.000 design to it. I was like, all right, well, I 0:01:50.240 --> 0:01:52.440 kind of want the physical copy, but for now at least, 0:01:52.480 --> 0:01:54.320 I decided to hold off. And I was just like 0:01:54.360 --> 0:01:55.920 doing some messing around on the Libby app, and it 0:01:55.960 --> 0:01:59.240 turns out they have magazines too, and so the magazine 0:01:59.280 --> 0:02:01.320 that I wanted to sign up Forum. If I were 0:02:01.360 --> 0:02:03.800 to opt for the digital copy and pay fifteen bucks. 0:02:03.840 --> 0:02:05.920 But guess what, I can get it for free through 0:02:05.960 --> 0:02:09.160 the Libby app instead. So basically that same digital copy 0:02:09.400 --> 0:02:12.320 cost me nothing versus first fifteen bucks a year. And like, 0:02:12.360 --> 0:02:15.560 there's tons of magazines out there that people can subscribe to, 0:02:15.639 --> 0:02:17.760 so and so if you're a big magazine buff, I 0:02:17.800 --> 0:02:19.519 just wanted to like put that on your radar. You 0:02:19.520 --> 0:02:22.079 don't necessarily even have to subscribe to it on your own. 0:02:22.120 --> 0:02:24.240 You can get it through your library system. Yeah, well, 0:02:24.240 --> 0:02:26.120 how does it actually look within the app? Right, because 0:02:26.160 --> 0:02:28.240 so much of a magazine's design, like you kind of 0:02:28.240 --> 0:02:30.000 mentioned that earlier, you know, a second ago you said, 0:02:30.000 --> 0:02:33.520 like the design of the magazine oftentimes really plays into 0:02:33.760 --> 0:02:35.920 kind of the experience, and it can be difficult to 0:02:36.080 --> 0:02:39.040 kind of appreciate that, you know, like on your phone 0:02:39.120 --> 0:02:40.920 or on a tablet, you know, does it look like 0:02:40.919 --> 0:02:43.160 the magazine or does it just look like, uh, you know, 0:02:43.280 --> 0:02:44.919 an article on your phone. Yeah, it more looks like 0:02:44.960 --> 0:02:47.320 an article. It's it's definitely doesn't have the same the 0:02:47.360 --> 0:02:49.120 same feel list that a little bit, but you can 0:02:49.120 --> 0:02:51.600 still get all that information. Yeah, exactly, And I will 0:02:51.600 --> 0:02:54.880 say too if you want the physical copy, because I 0:02:54.960 --> 0:02:58.359 agree having a physical magazine copy is so nice, especially 0:02:58.560 --> 0:03:00.480 for the ones that put a lot of effort into 0:03:00.520 --> 0:03:03.639 the design work. One don't buy the magazine off the shelf, 0:03:03.840 --> 0:03:06.520 because oftentimes you can get a whole year's worth of 0:03:06.560 --> 0:03:10.320 that magazine for the prices, especially that first year. I 0:03:10.320 --> 0:03:12.440 mean that first year. Literally you can you can pay 0:03:12.480 --> 0:03:15.200 five bucks and get an entire first year of that 0:03:15.240 --> 0:03:20.079 magazine included instead of you know, paying six at a bookstore, right, 0:03:20.200 --> 0:03:22.200 And there are other sites out there now too that 0:03:22.280 --> 0:03:25.239 will offer you better prices than going like directly through 0:03:25.280 --> 0:03:28.119 the magazine publisher. There's one website I know of called 0:03:28.160 --> 0:03:31.280 discount mags dot com, and I've gotten um some magazines 0:03:31.360 --> 0:03:33.240 there before, and I think I was able to get 0:03:33.280 --> 0:03:35.200 like a year of a magazine I liked for like 0:03:35.240 --> 0:03:37.640 five bucks, And so that's literally the price of one 0:03:37.680 --> 0:03:40.320 issue for a year's worth of it. And so for 0:03:40.360 --> 0:03:42.200 this one, at least for now, I'm gonna, you know, 0:03:42.240 --> 0:03:44.080 do it on the Libby app. But because the design 0:03:44.160 --> 0:03:45.600 is so good, I think I'm gonna have to get 0:03:45.600 --> 0:03:47.920 the physical physical copy at some point. At some point, 0:03:48.000 --> 0:03:50.520 I feel like the temptation to buy a magazine in 0:03:50.600 --> 0:03:53.600 person is the strongest in an airport. You know, yes, 0:03:53.800 --> 0:03:56.800 that is true, because like you've already you know, you 0:03:56.880 --> 0:03:58.760 flip through all your social media, you're caught up there. 0:03:58.760 --> 0:04:00.840 You've read the articles that you want to read the phone, like, 0:04:00.880 --> 0:04:02.560 you know, maybe you don't want to do email, or 0:04:02.640 --> 0:04:04.800 maybe you're all caught up on email and you're still waiting, 0:04:04.920 --> 0:04:06.600 and so you're like, dang it, what am I gonna do? 0:04:06.960 --> 0:04:08.920 And so folks either tend to just waste time on 0:04:08.960 --> 0:04:10.480 their phones or they go over to the little store 0:04:10.600 --> 0:04:12.200 they see a magazine and they see a cover that 0:04:12.240 --> 0:04:13.920 interested them, and then you end up buying it there. 0:04:13.960 --> 0:04:15.920 So instead of doing that, make sure you have the 0:04:15.920 --> 0:04:19.280 libbyatt downloaded and search that magazine on your phone first. Exactly. 0:04:19.360 --> 0:04:21.240 I feel like the airport is one of those places 0:04:21.279 --> 0:04:22.680 kind of like getting a hot dog in a ball park, 0:04:22.680 --> 0:04:24.840 where you could market it up and people would still 0:04:24.880 --> 0:04:27.640 pay for it, doesn't matter. It's like you're so beholden 0:04:27.920 --> 0:04:29.960 you can't leave the terminal, you know, or whatever, Like 0:04:30.040 --> 0:04:31.960 you're afraid that they're gonna start boarding, so you're there. 0:04:31.960 --> 0:04:34.160 You're kind of like locked in. People are obsessed with 0:04:34.279 --> 0:04:36.559 getting in line first. That's like a whole another tangent 0:04:36.600 --> 0:04:37.960 that my mind just went to that we're not gonna 0:04:38.000 --> 0:04:40.360 talk about right now. I appreciate you sharing that tip. 0:04:40.400 --> 0:04:41.880 That's something that I didn't know. Man. But let's go 0:04:41.920 --> 0:04:44.080 ahead and introduce our beer for this episode today. You 0:04:44.080 --> 0:04:46.760 and I are both drinking a pales in comparison, which 0:04:46.760 --> 0:04:49.200 is a double dry hop American pale ale, and this 0:04:49.240 --> 0:04:52.680 one is from Edmond's past brewing. I'm looking forward to 0:04:52.760 --> 0:04:54.760 enjoying this one and sharing our thoughts at the end 0:04:54.800 --> 0:04:56.920 of the episode, Buddy, no doubt, me too. All right, 0:04:56.920 --> 0:04:58.520 But but now let's get onto the topic at hand. 0:04:58.760 --> 0:05:00.960 We're talking about grit and we really do believe it's 0:05:00.960 --> 0:05:02.880 the number one factor in winning with your money. Matt. 0:05:03.080 --> 0:05:06.279 We we thought about titling this episode, getting gritty with 0:05:06.320 --> 0:05:10.640 it and uh doing a little Will Smith theme. No no, no, no, no, no. 0:05:11.279 --> 0:05:13.800 It would have been fun. But as you did a 0:05:13.800 --> 0:05:16.520 little dance and like a little hand swing at the side, 0:05:16.520 --> 0:05:18.599 you've got it down, Pat, Buddy, Yeah, actually done. I 0:05:18.600 --> 0:05:20.440 did it back in the day. If only this was 0:05:20.640 --> 0:05:23.040 a video podcast, you know, people could have everyone could 0:05:23.080 --> 0:05:26.760 have experienced. Only it's not well, it just makes me think, Matt, 0:05:26.760 --> 0:05:28.719 thinking about grit makes me think about when I was 0:05:28.760 --> 0:05:30.800 growing up. I played the piano for a few years 0:05:30.800 --> 0:05:33.279 when I was a kid. My parents basically made me 0:05:33.320 --> 0:05:35.800 do it, uh, And I really wasn't all about that 0:05:35.800 --> 0:05:38.400 practice life that you were supposed to do on the side, 0:05:38.520 --> 0:05:42.080 you didn't have that sticker on the bag again, piano 0:05:42.160 --> 0:05:44.880 life with a why no, I didn't. I didn't. And 0:05:44.920 --> 0:05:47.680 because my parents basically like forced me into the piano thing, 0:05:47.800 --> 0:05:50.559 I did it reluctantly. And and after a few years 0:05:50.640 --> 0:05:52.440 my parents were like, actually, we're gonna let you have 0:05:52.480 --> 0:05:54.040 a little more say in whether or not you want 0:05:54.080 --> 0:05:57.000 to continue on in piano. And I bolted at the 0:05:57.040 --> 0:06:00.000 first chance, right, And I've never really played the piano 0:06:00.160 --> 0:06:03.120 since my commitment level. Where I was on the grit scale, 0:06:03.160 --> 0:06:05.159 as Angela duck Worth would put it, was pretty low. 0:06:05.560 --> 0:06:08.480 And Angela Duckworth wos a psychology professor. She writes about 0:06:08.480 --> 0:06:10.360 the grit scale, and she's done some of the best 0:06:10.480 --> 0:06:13.039 research on the subject of grit and I think a 0:06:13.040 --> 0:06:15.799 lot of what she's found can really help us develop 0:06:15.839 --> 0:06:19.560 more resilience in our lives in general. But then you 0:06:19.600 --> 0:06:20.920 and I we think that there's a lot of room 0:06:20.920 --> 0:06:23.200 for grit development and how we handle our money too, 0:06:23.240 --> 0:06:25.640 and then it can have a really big payoff. Yeah, 0:06:25.720 --> 0:06:27.279 you know, it really does turn out that grit and 0:06:27.400 --> 0:06:30.039 commitment to how they can have a large effect on 0:06:30.080 --> 0:06:32.880 the progress that we're able to make toward the goals 0:06:33.200 --> 0:06:35.479 that we've set for ourselves. So on the flip side, 0:06:35.480 --> 0:06:38.039 a lack of grit will lead to falling short of 0:06:38.040 --> 0:06:41.560 those goals. So, for instance, in Duckworth's research, it's not 0:06:41.600 --> 0:06:43.919 the kids with the highest i Q who do the 0:06:43.920 --> 0:06:47.000 best in spelling the competitions, it's the kids that showed 0:06:47.000 --> 0:06:49.159 the most grit, And so in that case, for those kids, 0:06:49.200 --> 0:06:52.559 it means it's the kids who most consistently practice. Maybe 0:06:52.600 --> 0:06:55.080 that's something you feel to do with with your piano lessons. 0:06:55.120 --> 0:06:56.560 I know, I just admitted it. You don't have the 0:06:56.600 --> 0:06:59.800 road in um and you know, so this tends to 0:06:59.800 --> 0:07:03.479 beat true though in other areas of our lives, and 0:07:03.520 --> 0:07:06.360 definitely it's true and personal finance as well. It's not 0:07:06.440 --> 0:07:10.440 always the high income earners that acquire financial freedom the 0:07:10.480 --> 0:07:13.000 most quickly. Often it's the folks who commit the most 0:07:13.040 --> 0:07:15.880 strongly to the outcome that they want to see. Yeah, Matt, 0:07:15.880 --> 0:07:17.200 and of course you and I we want to be 0:07:17.560 --> 0:07:20.600 those people that succeed with our money, who commit strongly enough, 0:07:20.640 --> 0:07:23.360 who have the resolve to accomplish those goals that we've 0:07:23.400 --> 0:07:25.840 set out to accomplish, and we want our listeners to 0:07:25.920 --> 0:07:27.960 be in that same boat too. You know. We want 0:07:28.000 --> 0:07:29.880 to say if we want to invest well in order 0:07:29.920 --> 0:07:33.240 to achieve greater levels of freedom as we continue on 0:07:33.240 --> 0:07:35.480 this journey to a healthy relationship with money and then 0:07:35.800 --> 0:07:38.160 having more of it in building wealth, but how do 0:07:38.200 --> 0:07:40.720 we cultivate and muster the grit to help us get there. 0:07:40.920 --> 0:07:43.680 That's really what we're tackling today. And let's start with 0:07:44.120 --> 0:07:47.640 a definition from Angela Duckworth I think is really helpful 0:07:48.040 --> 0:07:49.360 and just to kind of get our minds on it, 0:07:49.400 --> 0:07:52.040 because if you're to ask somebody what grittiness means, there 0:07:52.120 --> 0:07:53.760 might be a whole lot of different definitions of people 0:07:53.760 --> 0:07:55.360 would come up with, and I think she helps us 0:07:55.360 --> 0:07:58.800 boil it down. She says, Grit is perseverance for very 0:07:58.880 --> 0:08:01.920 long term goals. Grit is sticking with your future day 0:08:01.960 --> 0:08:04.360 in day out, not just for the week, not just 0:08:04.440 --> 0:08:07.080 for the month, but for years and working really hard 0:08:07.120 --> 0:08:10.440 to make that future a reality. Grit is living life 0:08:10.560 --> 0:08:13.200 like it's a marathon not a sprint, and that's what 0:08:13.240 --> 0:08:15.600 that's what you and I believe about money to right, 0:08:15.680 --> 0:08:17.280 it's not a sprint. It's one of those things where 0:08:17.280 --> 0:08:18.880 you you do have to have patience and you do 0:08:19.000 --> 0:08:21.800 have to have the resolve to continue at these things 0:08:21.800 --> 0:08:24.760 that we talk about every week for years and years 0:08:24.800 --> 0:08:27.280 and even decades. That's true. Yeah, it's selful to have 0:08:27.320 --> 0:08:30.240 a definition here because it's not like some folks might 0:08:30.280 --> 0:08:32.120 be thinking grit. Does that mean you just like don't 0:08:32.160 --> 0:08:36.000 have any manners? But truly it's about goals and sticking 0:08:36.000 --> 0:08:38.679 with those goals no matter what happens. You can have 0:08:38.720 --> 0:08:41.600 manners and grid at the same time. Absolutely, And you 0:08:41.600 --> 0:08:43.240 know this is helpful too because you know, everything in 0:08:43.240 --> 0:08:47.079 our world today, like it tells us that what we want, uh, 0:08:47.160 --> 0:08:48.880 we should be able to get immediately, right, you know 0:08:48.880 --> 0:08:50.880 that we should be able to see really quick results 0:08:50.920 --> 0:08:53.160 when it comes to any goal that we've set for ourselves. 0:08:53.200 --> 0:08:56.000 Four minute abs and I'm like, no, no, that's too long. 0:08:56.080 --> 0:08:58.480 What the two minute as the four our work week? 0:08:58.840 --> 0:09:00.800 That's why like looks like that are popular, you know, 0:09:00.840 --> 0:09:03.960 the four our body things like that promise. Yes, yeah, 0:09:03.960 --> 0:09:05.800 I mean we see this all the time, and advertisements 0:09:05.840 --> 0:09:08.080 about our health, about weight loss. You know, we see 0:09:08.080 --> 0:09:09.840 this uh with you know, when it comes to like 0:09:09.880 --> 0:09:12.040 promises of maybe like a new dating app that's going 0:09:12.080 --> 0:09:14.319 to change your life. Uh. And we also see it 0:09:14.360 --> 0:09:16.480 play out when it comes to building wealth as well. 0:09:17.160 --> 0:09:19.400 They propose that it doesn't take much thought or intentionality, 0:09:19.400 --> 0:09:21.760 you know, you can just realize those goals instantly. But 0:09:22.080 --> 0:09:25.080 you know, we feel that realizing that financial success and 0:09:25.080 --> 0:09:27.720 wealth building it takes time. And this is so important 0:09:27.760 --> 0:09:30.120 in becoming a gritty person. And so if you think 0:09:30.160 --> 0:09:32.160 that success is going to happen overnight, you're gonna be 0:09:32.160 --> 0:09:35.559 sorely disappointed and far less likely to actually continue working 0:09:35.559 --> 0:09:38.600 towards the financial goals that you've laid out for yourself. 0:09:38.880 --> 0:09:40.440 We don't suggest for folks to try to get rich. 0:09:40.480 --> 0:09:42.320 You know, we're not writing meme stocks to the moon. 0:09:42.800 --> 0:09:45.560 We are getting rich slowly over here over here at 0:09:45.600 --> 0:09:48.400 how the money essentially we're calling for for patients in 0:09:48.440 --> 0:09:51.200 a world of instant gratification. Yeah, man, I think some 0:09:51.280 --> 0:09:53.439 of those promises we've been promised a lot of things. 0:09:53.559 --> 0:09:55.800 We've been sold a lot of things where people tell 0:09:55.840 --> 0:09:58.160 us success is supposed to happen quickly, and then when 0:09:58.160 --> 0:10:00.880 it doesn't, it actually like breaks our faith, I think, 0:10:01.080 --> 0:10:03.360 in the possibility of even achieving that thing in the 0:10:03.360 --> 0:10:06.000 first place, because we don't have any grit. Well, well, 0:10:06.000 --> 0:10:08.600 it's also true that, like it's a letdown when someone 0:10:08.600 --> 0:10:10.760 tells us something can happen in a short amount of time, 0:10:10.760 --> 0:10:12.520 and it can't actually happen in a short amount of time. 0:10:12.640 --> 0:10:14.760 And so we want to also tell you the truth here. 0:10:15.120 --> 0:10:17.199 The truth is that it does take a while. And 0:10:17.240 --> 0:10:19.760 I think somebody might be asking themselves, like, but you 0:10:19.840 --> 0:10:21.720 just said that grit is the number one factor and 0:10:21.720 --> 0:10:24.600 winning with your money. Aren't other things more important than grit? 0:10:24.760 --> 0:10:27.560 And I understand the question, But let's maybe discuss a 0:10:27.559 --> 0:10:30.840 few factors that influence your progress with money and see 0:10:30.840 --> 0:10:33.440 where grit stacks up among them. And I think, Matt, 0:10:33.520 --> 0:10:36.240 some people might point to a high income replacing the 0:10:36.240 --> 0:10:38.560 need for grit, Like, if I make enough money, I 0:10:38.559 --> 0:10:40.440 don't really need to be all that gritty. I don't 0:10:40.480 --> 0:10:43.040 have to have the stick tuitiveness with my money that 0:10:43.080 --> 0:10:44.880 it's going to take to win. I don't really have 0:10:44.880 --> 0:10:47.319 to behave with money because I make a lot of it. 0:10:47.360 --> 0:10:49.720 But uh, and and I understand you don't know me. 0:10:50.080 --> 0:10:51.920 You don't see my income. You can make a lot 0:10:51.920 --> 0:10:53.520 of money. I can do what I want exactly. That's 0:10:53.559 --> 0:10:56.080 what people think. But stats show that one in five 0:10:56.120 --> 0:10:58.839 people making over a hundred thousand dollars a year is 0:10:58.920 --> 0:11:01.880 living paycheck to paycheck. It's not that income doesn't matter. 0:11:02.240 --> 0:11:04.720 Making more money is a good thing for your finances, 0:11:04.920 --> 0:11:07.600 but making more money doesn't replace the need for grit 0:11:07.600 --> 0:11:10.720 and for discipline. There are a lot of uber rich, 0:11:11.080 --> 0:11:14.880 super unhappy people living paycheck to paycheck who need more 0:11:14.880 --> 0:11:18.000 grittiness in their lives to be happier and to be wealthier. Yeah, 0:11:18.000 --> 0:11:20.600 I think higher earners are can always find a creative 0:11:20.600 --> 0:11:23.880 way to blow all their money. And so another aspect 0:11:23.920 --> 0:11:26.600 that I think folks might tend to focus on, uh, 0:11:26.760 --> 0:11:28.880 you know more maybe more than grit, is knowledge, you know, 0:11:29.040 --> 0:11:31.560 like they might be asking, can uh personal finance book 0:11:31.600 --> 0:11:34.400 learning overcome a lack of grit. It definitely helps to 0:11:34.440 --> 0:11:36.880 have some knowledge and and to have some understanding there, 0:11:36.880 --> 0:11:40.120 but having it apart from grit won't do the trick either, 0:11:40.240 --> 0:11:41.959 you know. In fact, in one study that Duckworth writes 0:11:41.960 --> 0:11:43.960 about in her books, she finds that smarter students were 0:11:43.960 --> 0:11:47.160 actually less gritty at some of the Ivy League schools, 0:11:47.320 --> 0:11:49.640 and that's because people who aren't as smart as their peers, 0:11:49.760 --> 0:11:52.280 they tended to buckle down and work harder because they 0:11:52.320 --> 0:11:55.160 had to write, and so they exhibited more grittiness because 0:11:55.160 --> 0:11:57.959 of that. And it's an interesting example how not naturally 0:11:58.000 --> 0:11:59.839 having you know, all the smarts in the world had that, 0:12:00.000 --> 0:12:01.840 How that can actually benefit you in the long term 0:12:01.840 --> 0:12:04.160 because you gain more of that grittiness. Yeah, there's a 0:12:04.200 --> 0:12:06.480 difference between book smarts and street smarts. And it's not 0:12:06.520 --> 0:12:09.640 always the valedictorian of your high school that's the most 0:12:09.679 --> 0:12:13.960 successful person. Sometimes it's the person that's more gritty, that's 0:12:14.240 --> 0:12:17.160 has a little more stick tutiveness about them. Right, And 0:12:17.200 --> 0:12:19.280 also too, there's another excuse. I think some people tell 0:12:19.320 --> 0:12:22.120 themselves that they don't have to be gritty if someone 0:12:22.160 --> 0:12:25.520 else is doing all the hard financial lifting for them. 0:12:25.920 --> 0:12:28.520 But is that true? We would say not quite, because 0:12:28.760 --> 0:12:30.800 a lot of people do rely on their partner to 0:12:30.880 --> 0:12:33.880 make all of the financial decisions in the house, or 0:12:33.920 --> 0:12:36.360 maybe on Congress passing a billy to send more funds 0:12:36.360 --> 0:12:38.319 their way, or on a parent to bail them out 0:12:38.320 --> 0:12:40.800 of their money. Mistakes even as a grown adult. And 0:12:41.120 --> 0:12:44.559 it's not that outside help isn't sometimes important, but consistently 0:12:44.880 --> 0:12:47.520 looking elsewhere for help means that you're not going to 0:12:47.600 --> 0:12:52.000 be very gritty and that help won't always be there. Right. Plus, 0:12:52.080 --> 0:12:54.760 it's self evident that the ability we have to make 0:12:54.800 --> 0:12:57.720 positive changes in our own lives really does lead to 0:12:57.760 --> 0:13:00.840 higher levels of fulfillment and satisfaction. Yeah, so when short, 0:13:00.920 --> 0:13:03.120 you know, possessing more grit, especially when it comes to 0:13:03.120 --> 0:13:05.360 your finances, is going to lead to more happiness. But 0:13:05.440 --> 0:13:08.439 the thing is, dude, it is not a predetermined thing, right, 0:13:08.520 --> 0:13:10.040 Like you don't have a certain amount of grit that 0:13:10.040 --> 0:13:12.120 you're born with, uh, and then you can no longer 0:13:12.320 --> 0:13:15.040 change that. It turns out you can cultivate more grit. 0:13:15.040 --> 0:13:16.960 And that's actually what we're gonna talk about right after 0:13:16.960 --> 0:13:28.560 the break. Alright, we'll back. We're talking about grit in 0:13:28.600 --> 0:13:31.760 today's episode and how that is a huge factor, probably 0:13:31.800 --> 0:13:34.160 the number one factor when it comes to winning with 0:13:34.280 --> 0:13:37.440 your money, and Matt, let's continue talking about it. It's 0:13:37.480 --> 0:13:40.440 such a fascinating subject and let's talk about how we 0:13:40.440 --> 0:13:43.320 can actually develop more grit, like the ways to go 0:13:43.360 --> 0:13:45.720 about doing it. And I think it's important to know 0:13:45.800 --> 0:13:50.560 that grit is transferable. Aside from personal finance, developing resilience 0:13:50.600 --> 0:13:53.040 and grit in your life is going to spill over 0:13:53.080 --> 0:13:55.760 into other areas. Right. It's not just gonna help your money. 0:13:55.800 --> 0:13:58.199 It's gonna help you in the workplace. It's gonna help 0:13:58.200 --> 0:14:00.480 you in your marriage, it's gonna help you raise kids. 0:14:00.960 --> 0:14:03.120 You know. I always tell my girls, Matt, you can 0:14:03.200 --> 0:14:04.840 do hard things. Like That's one of the things that 0:14:04.840 --> 0:14:06.720 they hear me say a lot. When I tell them 0:14:07.040 --> 0:14:08.520 to come over close to me because I'm gona tell 0:14:08.559 --> 0:14:10.560 him something. They either I think I'm gonna tell them that, 0:14:10.720 --> 0:14:12.480 or that I love them. Like those the two things 0:14:12.480 --> 0:14:14.640 that they hear the most from me. I think, get 0:14:14.640 --> 0:14:15.920 over here. I am about to do one or two 0:14:15.920 --> 0:14:19.480 things exactly. And it's it's cool to see my girls 0:14:19.480 --> 0:14:22.200 get over fears that they might have had as we 0:14:22.320 --> 0:14:24.960 like talk through things, and as they experienced the joy 0:14:25.040 --> 0:14:27.760 in doing something that they previously thought they couldn't. It 0:14:27.840 --> 0:14:31.120 specifically makes me think of doing the ropes course at 0:14:31.120 --> 0:14:33.800 Stone Mountain in Georgia with my daughter, who I think 0:14:33.840 --> 0:14:35.680 I think she was five at the time, and there's 0:14:35.720 --> 0:14:38.520 like twelve year old boys who are like scared out 0:14:38.520 --> 0:14:40.440 of their minds, and like, I can keep talking to 0:14:40.480 --> 0:14:43.040 her and she gets through it, man, and she did 0:14:43.040 --> 0:14:45.120 it well, and she wanted to do it again, just 0:14:45.200 --> 0:14:48.280 like Donkey and Shrek when he's crossing over the bridge 0:14:49.080 --> 0:14:52.080 something like that. We watched that recently. It's been a 0:14:52.080 --> 0:14:53.360 while for me, so I don't I don't know if 0:14:53.400 --> 0:14:56.160 I remember that, but um, yeah, I think like we 0:14:56.240 --> 0:14:58.920 can all too hard things and our lives are better 0:14:59.000 --> 0:15:01.240 when we realize and we live in a in a 0:15:01.280 --> 0:15:03.680 way that reflects it. And sometimes it's that inner monologue. 0:15:03.680 --> 0:15:05.720 We need someone basically telling us that we can do 0:15:05.760 --> 0:15:07.680 something that we think we can't, and then once we do, 0:15:07.760 --> 0:15:10.040 we're just like so proud of ourselves. Yeah, it's so 0:15:10.040 --> 0:15:12.120 true how that spills over that discipline and when you've 0:15:12.160 --> 0:15:13.960 developed that grit, it can you know, you can see 0:15:13.960 --> 0:15:16.480 that manifest itself in lots of different areas of your life. 0:15:16.800 --> 0:15:18.440 And as it applies to money, you know, on a 0:15:18.440 --> 0:15:20.960 financial level, grit can help you obviously, you know, pay 0:15:21.040 --> 0:15:23.160 down debt faster. You can help you to slash bills 0:15:23.200 --> 0:15:26.080 that you were previously maybe unwilling to touch. It can 0:15:26.080 --> 0:15:28.040 get you motivated to increase that four O one K 0:15:28.280 --> 0:15:32.000 contribution percentage. I mean basically, any financial goal that you 0:15:32.000 --> 0:15:35.200 can dream up can be impacted by grit. But the 0:15:35.280 --> 0:15:37.920 question is how do we achieve more grit in our lives, 0:15:38.040 --> 0:15:39.840 especially as it pertains to our money. So that's what 0:15:39.880 --> 0:15:42.040 we're gonna talk about now, all right. So, I think 0:15:42.120 --> 0:15:43.960 one of the most important things people really need to 0:15:44.000 --> 0:15:46.400 start off with, and we've talked about this before on 0:15:46.440 --> 0:15:49.200 the show, the why behind your money. Figuring out your 0:15:49.200 --> 0:15:51.720 why is a huge part of being able to be 0:15:51.800 --> 0:15:54.600 grittier with your money in order to continue to make 0:15:55.200 --> 0:15:57.640 the hard decisions and the hard money moves they're gonna 0:15:57.640 --> 0:16:00.200 help you succeed in the future. It's just easier to 0:16:00.200 --> 0:16:02.160 be resilient when there's a goal in your life that 0:16:02.200 --> 0:16:04.600 you feel strongly connected to. And and and in her book, 0:16:04.760 --> 0:16:06.520 you know, duck Worth talks about like she connects that 0:16:06.520 --> 0:16:08.240 with passion, like when you have an interest in something, 0:16:08.240 --> 0:16:10.560 when you have a passion for something, I mean basically 0:16:10.760 --> 0:16:13.120 like that's where you start. And luckily, the conversation around 0:16:13.160 --> 0:16:15.720 money is so relevant to this conversation because we can 0:16:15.720 --> 0:16:18.680 all identify things that we probably want to do with 0:16:18.720 --> 0:16:20.680 our money. Yeah, the bigger goals that we want to 0:16:20.720 --> 0:16:22.840 achieve in money is obviously a huge part of being 0:16:22.880 --> 0:16:25.280 able to achieve those how we get there exactly, And 0:16:25.600 --> 0:16:28.720 Nietzsche said, he who has a hy to live compare 0:16:28.760 --> 0:16:33.080 almost anyhow. And it's crucial to identify why you're doing 0:16:33.120 --> 0:16:35.080 the things you're doing with your money in order to 0:16:35.120 --> 0:16:38.200 make significant progress and then to maintain your resolve to 0:16:38.240 --> 0:16:42.520 achieve those goals. Write this wide down because this why 0:16:42.760 --> 0:16:45.200 is going to be the reminder to yourself, maybe to 0:16:45.240 --> 0:16:47.440 your family, to you and your significant other of what 0:16:47.520 --> 0:16:49.560 you're aiming for and is going to allow you to 0:16:49.640 --> 0:16:52.320 not give up as you encounter obstacles, because we all 0:16:52.400 --> 0:16:55.760 encounter obstacles, but grittiness is pushing through those obstacles, and 0:16:55.800 --> 0:16:58.120 having the why is going to lend a massive hand 0:16:58.480 --> 0:17:01.400 in your ability to remain pritty when those obstacles do 0:17:01.440 --> 0:17:03.560 pop up. Yeah. So, for example, it makes me think 0:17:03.600 --> 0:17:05.919 about like no spend challenges, right, Like pretty much anybody 0:17:06.000 --> 0:17:08.000 could do a no spend challenge. Uh, it's not all 0:17:08.040 --> 0:17:10.520 that hard to avoid, you know, buying some junk online 0:17:10.520 --> 0:17:12.280 for maybe a couple of days or maybe even a 0:17:12.280 --> 0:17:14.080 couple of weeks. But then I've been doing a no 0:17:14.160 --> 0:17:15.960 spend challenge for the last fifteen minutes while we've been 0:17:15.960 --> 0:17:19.320 recording this episode. Congratulations sir, very impressive, right, Uh, you 0:17:19.400 --> 0:17:23.679 deserve another sip here. But you know, the question we 0:17:23.720 --> 0:17:25.600 need to ask ourselves then, is like what happens after 0:17:25.640 --> 0:17:28.000 that no spend challenges over? You know, because after that 0:17:28.040 --> 0:17:31.439 most folks will just like resume their previous habits of 0:17:31.480 --> 0:17:34.080 spending and then all that progress that you know was made, 0:17:34.359 --> 0:17:37.280 it just comes undone and you know, unravels because the 0:17:37.320 --> 0:17:40.200 challenge it's not really fun anymore. But when you're able 0:17:40.240 --> 0:17:43.760 to identify your deeper why, you will have discovered goals 0:17:43.800 --> 0:17:47.639 that have a higher level of durability and endurance. And 0:17:47.680 --> 0:17:50.200 it is such a key aspect of developing grit in 0:17:50.240 --> 0:17:52.560 your life. So true, So that why is a crucial 0:17:53.040 --> 0:17:56.600 piece of the puzzle to developing a gritty response in 0:17:56.680 --> 0:17:59.959 your personal financial life. But aside from knowing what an 0:18:00.040 --> 0:18:02.359 is that you're seeking after, aside from having that lie, 0:18:02.440 --> 0:18:05.000 there are also some deliberate steps you can take and 0:18:05.040 --> 0:18:08.080 specific actions that you can employ in your life that 0:18:08.119 --> 0:18:10.639 will lead to a higher level of grit and the 0:18:11.440 --> 0:18:14.879 greater ability to then achieve your goals. We have to 0:18:14.920 --> 0:18:18.199 bridge that gap between what we desire and then the 0:18:18.200 --> 0:18:20.640 steps that we're taking in order to arrive there. Yeah. 0:18:20.680 --> 0:18:23.320 Quick example, I had a desire earlier this year to 0:18:23.359 --> 0:18:26.440 begin waking up earlier, and so for me, a practical 0:18:26.480 --> 0:18:28.960 step I started taking was to lay out my clothes 0:18:29.000 --> 0:18:32.080 the night before, right, And if I don't do that, dude, 0:18:32.080 --> 0:18:34.440 it is a whole lot easier for me to sleep in, 0:18:35.000 --> 0:18:37.680 hit snooze a couple of times, uh, and avoid doing 0:18:37.720 --> 0:18:39.280 the thing that I really want to do, which is, 0:18:39.320 --> 0:18:41.080 you know, waking up early so I can get some 0:18:41.119 --> 0:18:43.119 reading done. So yeah, let's go ahead and talk then 0:18:43.160 --> 0:18:46.280 about some of these practical steps uh that will allow 0:18:46.359 --> 0:18:49.400 us to begin developing more grit in our lives. Yeah. 0:18:49.400 --> 0:18:51.440 It's so much easier to wake up when you when 0:18:51.440 --> 0:18:53.280 you open your eyes and you're like, man, I don't 0:18:53.280 --> 0:18:54.720 have to fumble around in the dark to get my 0:18:54.760 --> 0:18:57.080 clothes and they're already laid out for me. Well, for 0:18:57.119 --> 0:18:59.880 me too, it's the dresser because it's so noisy, gets 0:19:00.000 --> 0:19:02.160 at at me. I'm gonna wake her up. I better 0:19:02.160 --> 0:19:04.040 just sleep in. Yes, No, I really do. Like that's 0:19:04.040 --> 0:19:05.760 how I justify it. I'm like, well, well, what am 0:19:05.800 --> 0:19:07.520 I gonna put on what's the temperature, I don't know, 0:19:07.560 --> 0:19:09.320 But if I check the temperature the night before and 0:19:09.400 --> 0:19:11.399 lay those clothes out and I don't make all that noise, 0:19:11.760 --> 0:19:14.800 Like I've got all those decisions streamlined, and I just 0:19:14.800 --> 0:19:16.800 slide out of bed like a like a silent panther. 0:19:17.000 --> 0:19:19.960 You know, you can't hear me. I'm super stealthy. Like 0:19:20.080 --> 0:19:21.840 there's a lot of reasons, right, Yeah, that that that 0:19:21.960 --> 0:19:24.479 you could easily give as an excuse to not wake 0:19:24.560 --> 0:19:26.119 up early, and you got to eliminate as many of 0:19:26.119 --> 0:19:28.720 those on the front end and can And I think, yeah, similarly, 0:19:28.800 --> 0:19:31.000 they're just practical steps though, Like that's what we're talking about, 0:19:31.000 --> 0:19:32.639 you Like, they're just simple things that we can do 0:19:32.760 --> 0:19:36.119 to begin to foster that that grit in our lives. Yea. 0:19:36.320 --> 0:19:38.159 And one of the other things that that Angelo Duckworth 0:19:38.200 --> 0:19:41.040 talks about in in her book is deliberate practice, and 0:19:41.040 --> 0:19:44.000 that's a crucial part of being more gritty. It's hard 0:19:44.040 --> 0:19:46.480 to get better with your money if you're not intentionally 0:19:46.520 --> 0:19:50.520 working and improving. And she says that actually informative feedback 0:19:50.960 --> 0:19:53.679 is a crucial aspect of that deliberate practice. And as 0:19:53.720 --> 0:19:56.080 we think about our finances. It's it's really difficult to 0:19:56.119 --> 0:19:59.240 imagine any improvement if we're not sitting down at the 0:19:59.280 --> 0:20:00.639 end of the month or at the end of the 0:20:00.720 --> 0:20:03.840 year and reviewing how we actually handled our money. Like, 0:20:03.920 --> 0:20:07.240 just like with my piano lessons, the lessons only go 0:20:07.359 --> 0:20:09.560 so far if you refuse to practice. If I had 0:20:09.680 --> 0:20:12.240 only practiced like three days a week, I would have 0:20:12.320 --> 0:20:15.040 quickly gotten better and I probably would have enjoyed it 0:20:15.080 --> 0:20:16.919 more and I might have kept at it. But my 0:20:17.119 --> 0:20:20.240 lack of grittiness, my lack of deliberate practice, really led 0:20:20.280 --> 0:20:22.560 me to hate playing the piano and dread going through 0:20:22.560 --> 0:20:24.520 the lessons. Right. Yeah, so let's apply that then to 0:20:24.520 --> 0:20:27.040 our money. Right. So this specifically means that, like, we 0:20:27.160 --> 0:20:30.040 likely need to track our spending so that we have 0:20:30.200 --> 0:20:32.960 the data in order to provide that you know what 0:20:32.960 --> 0:20:36.359 what Angela calls that informative feedback, you know, and so 0:20:36.400 --> 0:20:38.480 you can do this automatically with software like Mint or 0:20:38.560 --> 0:20:40.520 personal Capital, or you can do it you know, the 0:20:40.520 --> 0:20:43.240 way I do it kind of longhand do it via Excel. 0:20:43.560 --> 0:20:45.359 And I again we've talked about how I do that 0:20:45.400 --> 0:20:47.600 intentionally because I feel like it I don't know it 0:20:47.680 --> 0:20:49.920 kind of embeds into my mind a little bit more 0:20:49.960 --> 0:20:51.960 when I have to enter those you know, those purchases 0:20:52.000 --> 0:20:54.200 in myself or you know, when I paste them over 0:20:54.280 --> 0:20:56.520 from for my credit card. But you have to see 0:20:56.520 --> 0:20:59.200 the multiple times that yeah exactly, Yeah, yeah, I touch 0:20:59.240 --> 0:21:01.840 it more often. But you know, you need to figure 0:21:01.840 --> 0:21:04.040 out what it is that's going to work for you. 0:21:04.040 --> 0:21:05.560 You know, we we live in a culture that tends 0:21:05.600 --> 0:21:08.080 to avoid this type of reflection. We're always looking to 0:21:08.160 --> 0:21:11.119 the next best thing. But if you're trying to improve 0:21:11.160 --> 0:21:13.720 your financial situation, you need to make sure that that 0:21:13.760 --> 0:21:15.919 you're facing the truth, you know, and that you're giving 0:21:16.119 --> 0:21:19.000 your spending and your saving and honest, look, you need 0:21:19.040 --> 0:21:22.400 to reflect on what it is that that's working, what's 0:21:22.440 --> 0:21:25.720 not working, uh, and then also to like make some tweaks. 0:21:25.720 --> 0:21:26.960 You know. That's that's a big part of what she 0:21:26.960 --> 0:21:28.560 talks about as well as kind of it's not just 0:21:28.560 --> 0:21:31.639 about receiving that feedback, but it's about modifying it and 0:21:31.680 --> 0:21:33.919 refining it so that you can continue to move, you know, 0:21:34.000 --> 0:21:36.600 down the path that you want to be progressing down. Yeah. 0:21:36.640 --> 0:21:40.440 One one of the other important things too, in developing 0:21:41.040 --> 0:21:43.520 more grittiness in your life is to start responding to 0:21:43.640 --> 0:21:46.679 mistakes that you make differently and learning from them instead 0:21:46.720 --> 0:21:49.160 of letting them define you. That's another problem I think 0:21:49.200 --> 0:21:51.040 a lot of us have struggled with matt over the years, 0:21:51.080 --> 0:21:53.399 is like letting a mistake really get you down and 0:21:53.440 --> 0:21:55.359 mess up your next decision and the one after that. 0:21:55.400 --> 0:21:58.280 It's it's like lingering effects, right, because we're beating ourselves up. 0:21:58.840 --> 0:22:01.560 But instead of ray yourself over the coals, is there 0:22:01.560 --> 0:22:04.199 something that you can do one to minimize that mistake? 0:22:04.520 --> 0:22:07.080 Probably there's probably a way that you can make that 0:22:07.119 --> 0:22:10.560 mistake less bad by doing something else proactive in order 0:22:10.560 --> 0:22:12.680 to minimize the negative effects. And then and then you 0:22:12.720 --> 0:22:15.720 can ask yourself to how can I avoid making the 0:22:15.800 --> 0:22:19.080 same mistake in the future. The non gritty response is 0:22:19.119 --> 0:22:21.960 to let that mistake linger to get you down and 0:22:22.119 --> 0:22:24.639 to compound on itself, causing you to make even more 0:22:24.680 --> 0:22:27.200 mistakes in the future, where it defines you and who 0:22:27.240 --> 0:22:30.080 you are and the difficulties that we encounter. I feel 0:22:30.080 --> 0:22:32.320 like they can either harm us, causing us to lay 0:22:32.320 --> 0:22:34.919 down and just accept our circumstances and say Fate has 0:22:34.920 --> 0:22:36.879 dealt us this blow and and this is just the 0:22:36.880 --> 0:22:38.840 hand we've been dealt or it can be more like 0:22:38.840 --> 0:22:40.800 a kick in the pants that causes us to gut 0:22:40.840 --> 0:22:44.119 it out even harder. Maybe you're realizing that you've financed 0:22:44.160 --> 0:22:46.359 a brand new card to dealership and your interest rate 0:22:46.480 --> 0:22:48.680 is terrible, and you can just say, this is a 0:22:48.760 --> 0:22:51.760 mistake I've made and I'm an idiot and I'm bad 0:22:51.800 --> 0:22:54.800 with money, and you can continue to go down that road. Uh, 0:22:54.800 --> 0:22:58.040 And that's only going to be a self fulfilling prophecy, 0:22:58.480 --> 0:23:00.479 making you worse with money in the future. But if 0:23:00.480 --> 0:23:03.000 you could refinance that loan at a credit union and 0:23:03.000 --> 0:23:05.960 and get your payment down, or if you can sell 0:23:06.040 --> 0:23:08.720 that car and buy something a whole lot cheaper, you're 0:23:08.760 --> 0:23:10.960 gonna take a hit. Right. It doesn't mean that mistake 0:23:10.960 --> 0:23:13.040 doesn't affect you financially, but there are ways to get 0:23:13.040 --> 0:23:15.360 out from under that mistake, to minimize it, and then 0:23:15.400 --> 0:23:16.840 to move on from there and say, you know what, 0:23:17.080 --> 0:23:18.760 I just made some good moves after a bad one, 0:23:18.960 --> 0:23:20.520 and I do know what I'm doing with my money, 0:23:20.560 --> 0:23:23.479 and that can have a positive influence on your ability 0:23:23.480 --> 0:23:25.480 to continue to make progress. And then of course make 0:23:25.520 --> 0:23:28.520 sure that you never do that again. Right. Uh. And 0:23:28.560 --> 0:23:30.359 you know, according to duck Worth, again you know this 0:23:30.400 --> 0:23:34.320 is also why hope, why it's foundational to becoming more gritty, uh, 0:23:34.359 --> 0:23:36.119 you know, to rise to the occasion and to kind 0:23:36.119 --> 0:23:38.240 of just keep on going even what it is that 0:23:38.280 --> 0:23:40.040 we have our doubts. You know, this might be similar 0:23:40.080 --> 0:23:42.680 to those those signs in a marathon that are, from 0:23:42.720 --> 0:23:45.199 what I hear, seemingly impossible to get through. You know, 0:23:45.200 --> 0:23:47.040 like that's never run a marathons where you hit the wall. 0:23:47.080 --> 0:23:49.760 I've run a half, multiple half marathons, but never the marathon. 0:23:49.760 --> 0:23:51.760 I don't know if I knew you'd run multiple half marathons, 0:23:51.800 --> 0:23:53.200 so you didn't know that, I don't think so. Yeah, 0:23:53.280 --> 0:23:55.680 I mean so for me, it's always you know, it's difficult, 0:23:55.720 --> 0:23:58.000 but you know, full full on marathons they say that 0:23:58.040 --> 0:24:00.920 like around I think mile twenty twenty one, like that's 0:24:00.920 --> 0:24:03.679 when it's it can be really brutal, evidently, but you know, 0:24:03.760 --> 0:24:06.879 it's about continuing to put one leg in front of 0:24:06.880 --> 0:24:08.280 the other, you know, like that's the only way to 0:24:08.320 --> 0:24:11.000 realize the goal that you've set for yourself, and you 0:24:10.960 --> 0:24:13.320 you've got to have that hope at every step in 0:24:13.359 --> 0:24:15.840 the process. You need to remind yourself of that regardless 0:24:15.840 --> 0:24:18.280 of where you currently are, and I don't think marathons 0:24:18.320 --> 0:24:19.639 are in my future, but but do you think that 0:24:19.720 --> 0:24:23.080 is a good example of what grit looks like is 0:24:23.119 --> 0:24:26.160 someone training for a marathon and then actually performing the marathon, 0:24:26.400 --> 0:24:29.080 And from everything I've read, it's it's brutal. Yeah, those 0:24:29.119 --> 0:24:31.880 last four miles are really really hard, no matter how 0:24:31.880 --> 0:24:34.480 well you've trained. Marathons aren't even in my future, like 0:24:34.560 --> 0:24:36.800 like I might do another half, but even hals like 0:24:36.840 --> 0:24:38.560 it's just too much of a time commitment because like 0:24:38.560 --> 0:24:40.960 when you're training for those like yeah, you have to 0:24:41.000 --> 0:24:43.000 also run that far or when you're training, so it's 0:24:43.000 --> 0:24:45.120 not like you just run for you know, a few 0:24:45.119 --> 0:24:47.280 hours just on race day, like you're running for a 0:24:47.280 --> 0:24:50.200 few hours plus you know, warm up, cool down, stretching 0:24:50.240 --> 0:24:53.480 like that whole thing, like several times before the race. 0:24:53.520 --> 0:24:55.639 And so it is a massive time commitment. Yeah, I 0:24:55.640 --> 0:24:58.119 mean a lot of insane the runner friends I know, 0:24:58.200 --> 0:25:01.040 they're running long distances for five days a week, and 0:25:01.080 --> 0:25:03.800 so yeah, it's a big commitment. And like too, as 0:25:03.800 --> 0:25:06.640 we're talking about practical ways to develop grip, there could 0:25:06.680 --> 0:25:10.000 be simpler and more straightforward approaches to like something as 0:25:10.000 --> 0:25:13.200 simple as using social media better too, much social media 0:25:13.280 --> 0:25:15.320 can be a terrible thing when it comes to being 0:25:15.320 --> 0:25:18.840 satisfied with your life. Like doom scrolling is not just unproductive, 0:25:18.880 --> 0:25:21.520 it creates new wants, moving the goal post in our 0:25:21.520 --> 0:25:24.080 lives and giving us new metrics that we have to achieve. 0:25:24.320 --> 0:25:26.920 So instead of having to run twenty six point two miles, 0:25:26.960 --> 0:25:29.200 now we've got to run, you know, a hundred mile 0:25:29.320 --> 0:25:31.840 three day race or something like that. Right, Or when 0:25:31.840 --> 0:25:34.800 it comes to normal everyday stuff like taking a nicer 0:25:34.880 --> 0:25:37.240 vacation or buying some new clothes, it's like, you know what, 0:25:37.320 --> 0:25:40.480 now my financial wants have increased. The things I need 0:25:40.520 --> 0:25:43.200 in my life they're more and social media has a 0:25:43.200 --> 0:25:45.040 lot to do with that. And that's a problem when 0:25:45.040 --> 0:25:47.360 those are things that you don't care about, right because obviously, 0:25:47.440 --> 0:25:50.000 you know craft beer equivalent, Like what's your craft beer equivalent? 0:25:50.040 --> 0:25:51.399 We talked about that on the show or every time 0:25:51.440 --> 0:25:53.520 we talk to a guest, you know. But if that's 0:25:53.520 --> 0:25:55.760 something that you care about, then then sure that that's great. 0:25:55.800 --> 0:25:57.400 That's a way for you to challenge yourself. But when 0:25:57.400 --> 0:26:00.000 it becomes this default way of processing the world or 0:26:00.000 --> 0:26:01.920 fund you, when it becomes this sort of default consumption, 0:26:01.960 --> 0:26:04.760 that's being fed to you. That's when it's problematic because 0:26:04.800 --> 0:26:07.160 these are things when you self reflect, you realize that 0:26:07.200 --> 0:26:09.960 they don't truly bring you happiness at all. Yeah, I 0:26:10.000 --> 0:26:12.439 feel like every time we move the goalpost too, it 0:26:12.480 --> 0:26:15.920 has that effect of weakening our grip muscles. And not everything. 0:26:16.119 --> 0:26:18.040 You can have a couple of craft beer equivalents, like 0:26:18.480 --> 0:26:21.640 I suggest a maximum three, and then like that's That's 0:26:21.680 --> 0:26:22.920 one of the things we talked about in our Wife 0:26:22.920 --> 0:26:25.920 behind Money episode is having like three things on your list. 0:26:26.000 --> 0:26:28.080 It's like, I'm willing to spend extra money on these 0:26:28.160 --> 0:26:31.320 three things, but then not not everything can have that place. 0:26:31.480 --> 0:26:34.160 And if you have more than three craftier equivalents, three 0:26:34.200 --> 0:26:36.960 things that you're willing to kind of spend lavishly on 0:26:37.040 --> 0:26:40.280 while you're trying to invest wisely and save, well, there's 0:26:40.320 --> 0:26:42.280 gonna be too many and you're gonna end up broke. 0:26:42.320 --> 0:26:45.720 You're gonna exactly It's true. And also here I'm gonna 0:26:45.760 --> 0:26:47.919 provide a counter because I think that social media can 0:26:47.960 --> 0:26:50.760 be a helpful tool that we can use more effectively, 0:26:51.200 --> 0:26:53.640 you know, like modern technology. It allows us to surround 0:26:53.640 --> 0:26:55.760 ourselves with other folks out there who are seeking the 0:26:55.840 --> 0:26:58.520 same things that we are. And so what that means 0:26:58.760 --> 0:27:00.840 is just making sure that your choose who you follow, 0:27:01.119 --> 0:27:03.320 making sure that you're being intentional about the Facebook groups 0:27:03.440 --> 0:27:05.400 that you belong to, because I can have an important 0:27:05.960 --> 0:27:08.280 effect on your ability to stick with the goals and 0:27:08.320 --> 0:27:11.080 to to keep you know, your grit levels high. I 0:27:11.119 --> 0:27:12.879 feel like you can even use your you know, social 0:27:12.880 --> 0:27:15.760 media to help you to focus on your specific goals, 0:27:15.760 --> 0:27:18.199 like whatever your craft beer equivalent is, make sure that 0:27:18.200 --> 0:27:20.000 that's kind of front and center in your mind. I 0:27:20.000 --> 0:27:21.800 feel like Kate does us really well. When it comes 0:27:21.800 --> 0:27:23.520 to her wanting to learn about something, she will, you know, 0:27:23.520 --> 0:27:27.840 follow certain people on Instagram or lately I've I've I'm 0:27:27.840 --> 0:27:30.320 such like a you know, it's not even winter anymore, 0:27:30.359 --> 0:27:31.760 but I'm such a nerd when it comes to like 0:27:31.800 --> 0:27:33.480 the wood stove and stuff like that. But I follow 0:27:33.520 --> 0:27:35.879 this hashtag wood stack and it's just a bunch of 0:27:35.920 --> 0:27:38.000 pictures of of folks who have like chopped up would 0:27:38.320 --> 0:27:40.640 but that it puts it more forefront in my mind. 0:27:40.640 --> 0:27:42.120 And I see that and I'm like, oh, there's folks 0:27:42.160 --> 0:27:44.840 out there chopping wood and they're being physical, They're they're 0:27:44.880 --> 0:27:47.119 using your bodies, they're burning calories and it's also a 0:27:47.119 --> 0:27:49.119 good way to use trees that have been cut down 0:27:49.160 --> 0:27:51.720 in our neighborhood. Right, But maybe for you that means 0:27:51.760 --> 0:27:53.520 like taking a trip out west or you know, like 0:27:53.680 --> 0:27:55.760 like say, for instance, you want to go to Yosemite. 0:27:55.840 --> 0:27:59.080 Well maybe you can follow hashtag Yosemite, and so you 0:27:59.119 --> 0:28:01.879 see pictures folks are posting who have gone there, and 0:28:01.920 --> 0:28:04.159 so instead of being tempted into you know, buying some 0:28:04.359 --> 0:28:06.800 you know, something that's that's being fed to you, you know, 0:28:06.880 --> 0:28:09.960 in your feed, instead you see somebody, uh, and then 0:28:09.960 --> 0:28:11.560 you know you've got half dome in the background, or 0:28:11.560 --> 0:28:15.000 you've seen that they've like climbed El Capitan or something 0:28:15.040 --> 0:28:20.240 like that. But find ways without a rope. Alex told, yeah, 0:28:20.640 --> 0:28:22.520 he needed that. Well you might also if you do that, 0:28:22.560 --> 0:28:25.040 you might get some Yosemite sam gifts in there, which 0:28:25.040 --> 0:28:27.280 actually would would be fun to feel a nice way 0:28:27.320 --> 0:28:29.520 to kind of switch it up. But you know, social 0:28:29.560 --> 0:28:31.520 media it doesn't have to be all bad. There are 0:28:31.600 --> 0:28:33.800 ways that you can strategically use that, whether that be 0:28:33.840 --> 0:28:35.800 with the folks who you know, you allow into your life, 0:28:35.840 --> 0:28:38.120 you know, through the groups, or through the different images 0:28:38.120 --> 0:28:39.960 that you allowed to be you know, fed to you. Yeah, 0:28:40.000 --> 0:28:41.720 by the way, shameless plug for the how the Money 0:28:41.720 --> 0:28:44.480 Facebook group. Great group of people helping each other out. 0:28:44.520 --> 0:28:46.800 That is an effective use I think in social media. 0:28:46.880 --> 0:28:49.320 Right and and there is no hashtag how the Money 0:28:50.200 --> 0:28:52.920 or we're on Instagram, but no current hashtags at the 0:28:52.920 --> 0:28:55.719 moment at least we are not trending. Yeah, all right, Well, 0:28:55.760 --> 0:28:57.840 we've got a little bit more than we want to 0:28:57.840 --> 0:29:01.600 get to cover when it comes to developing grittiness and 0:29:01.640 --> 0:29:05.760 stick tuitiveness in your personal finances, including mindset. That's a 0:29:05.800 --> 0:29:08.320 really important part of this, and we'll get to that 0:29:08.360 --> 0:29:20.000 and more right after this break. All right, we are back, 0:29:20.080 --> 0:29:22.880 and dude, before we kind of move onto the mindset talk, 0:29:23.000 --> 0:29:25.880 which you you know, you tease to there, another important 0:29:25.920 --> 0:29:29.080 aspect of developing GrITT in our lives is the community, 0:29:29.120 --> 0:29:30.240 you know. Like we kind of touched on this a 0:29:30.240 --> 0:29:32.440 little bit when we're talking about social media, and earlier 0:29:32.440 --> 0:29:34.600 on too, we mentioned how you know, being dependent on 0:29:34.600 --> 0:29:37.560 someone else kind of reduces grittiness to a certain extent 0:29:37.600 --> 0:29:39.800 as well. If, for instance, if we are refusing to 0:29:40.200 --> 0:29:42.240 educate ourselves when it comes to our personal finances, or 0:29:42.280 --> 0:29:44.800 we're not paying attention to how much we're spending um. 0:29:44.840 --> 0:29:47.520 But that being said, we all need some help. We 0:29:47.560 --> 0:29:50.040 all need a certain amount of community on the road 0:29:50.120 --> 0:29:53.040 to building grits. Uh. Not that you know, you can 0:29:53.120 --> 0:29:55.200 do hard things all by yourself, but enlisting the help 0:29:55.720 --> 0:29:58.800 of a friend or a group can be crucial in 0:29:58.840 --> 0:30:01.840 the pursuit of more resiliency. You know, like, these are 0:30:01.880 --> 0:30:04.080 the folks that are gonna help pick you up when 0:30:04.080 --> 0:30:06.080 you're down, and they can remind you of your goals 0:30:06.120 --> 0:30:08.040 when you're maybe when you're ready to give up. You know, 0:30:08.080 --> 0:30:09.600 it just makes me think of working out, Like just 0:30:09.680 --> 0:30:12.640 ask any of those five am workout groups if if 0:30:12.640 --> 0:30:14.400 they would still be kind of doing this on their own, right, 0:30:14.400 --> 0:30:16.120 are you You're still gonna be working out at five 0:30:16.120 --> 0:30:17.680 am if it weren't for the other people if nobody 0:30:17.720 --> 0:30:20.120 else shows up, Yeah, and your posse you're going back 0:30:20.120 --> 0:30:21.680 and get in your bed too. It's not gonna happen, 0:30:21.720 --> 0:30:24.080 That's right. And not only is it about what your 0:30:24.080 --> 0:30:26.920 community and those you love can do to help you out, 0:30:27.240 --> 0:30:30.040 but it's also critical to remember those folks as you're 0:30:30.080 --> 0:30:32.560 working towards your goals because you can help them out. 0:30:33.200 --> 0:30:36.120 Research also shows too that when we're able to link 0:30:36.320 --> 0:30:38.600 whatever it is that we're seeking after to the well 0:30:38.680 --> 0:30:41.720 being of those around us, then there's like a much 0:30:41.800 --> 0:30:44.200 higher chance that we're gonna have the ability to stick 0:30:44.240 --> 0:30:47.800 with it. Essentially, we become grittier when we know the 0:30:47.840 --> 0:30:50.920 work and the goals we're seeking after have a higher purpose. 0:30:51.160 --> 0:30:52.640 For instance, if you have a goal to give away 0:30:52.800 --> 0:30:55.440 let's say ten of your overall income this year, that's 0:30:55.440 --> 0:30:57.600 a big goal, but that can cause you to be 0:30:57.720 --> 0:31:00.600 even grittier in sticking to your budget when you have 0:31:00.760 --> 0:31:04.000 this higher goal of supporting a couple of nonprofits where 0:31:04.040 --> 0:31:07.360 you live. When what you're doing isn't just self serving, 0:31:07.600 --> 0:31:11.480 it can actually increase your grit abilities. Yeah. Yeah, there's 0:31:11.480 --> 0:31:13.880 other people depending on you, right, and I think maybe 0:31:13.880 --> 0:31:15.680 it's more of a stretch to have to remind yourself 0:31:15.720 --> 0:31:17.840 of those things. You know, if you're maybe if you're single, 0:31:18.200 --> 0:31:20.360 but certainly you know, once you have a family, you 0:31:20.400 --> 0:31:22.040 can think about that as well. You know, you've got 0:31:22.320 --> 0:31:25.360 a spouse, perhaps that might be partially or fully dependent 0:31:25.400 --> 0:31:28.480 on your income. You might have you know, kids who 0:31:28.480 --> 0:31:31.320 like there their well being in their future. Uh, you 0:31:31.360 --> 0:31:33.760 know hangs in the balance to it to a certain extent, 0:31:33.800 --> 0:31:35.880 and so it's it's good to remind yourself of those 0:31:35.880 --> 0:31:38.800 things as well. And so community, family, all of those 0:31:38.840 --> 0:31:41.240 things are really important. It's important to remember other people 0:31:41.560 --> 0:31:44.040 as we seek to foster and grow more grit in 0:31:44.040 --> 0:31:47.080 our lives. Uh. And let's touch on to dude, like 0:31:47.120 --> 0:31:50.440 how we think about things right, A mindset shift is 0:31:50.480 --> 0:31:54.720 a huge part of developing grit. Gandhi said that man 0:31:54.760 --> 0:31:58.280 often becomes what he believes himself to be. And you know, 0:31:58.320 --> 0:32:00.760 we've tried that before being superhero. It didn't work out, 0:32:00.800 --> 0:32:03.080 didn't work out for you. I was like that, my Gandhi. 0:32:03.360 --> 0:32:05.760 But yeah, well here's some truth here on how the money. 0:32:05.840 --> 0:32:08.680 Like we don't talk, you know, much about self actualization, 0:32:09.240 --> 0:32:10.960 but spending more time thinking about like who do you? 0:32:11.040 --> 0:32:12.880 Who you want to be? You know, think about you know, 0:32:12.920 --> 0:32:14.480 the life that you want to live. And while you 0:32:14.480 --> 0:32:17.800 do that, think about how money influences those things, because 0:32:17.800 --> 0:32:21.320 it can be really powerful and so purposefully changing your 0:32:21.360 --> 0:32:24.680 lifestyle to maybe own less and to intentionally choose to 0:32:24.720 --> 0:32:27.880 forego purchases and opportunities because you have something bigger in 0:32:27.920 --> 0:32:31.400 mind is self empowering. You know, with that comes a 0:32:31.560 --> 0:32:34.239 change and how you see things. Uh. And it's kind 0:32:34.280 --> 0:32:37.160 of interesting because you know this mindset shift. Typically we 0:32:37.200 --> 0:32:39.080 try to, like in episodes we're getting a little meta here, 0:32:39.280 --> 0:32:41.600 try to end episodes with with advice that's you know, 0:32:41.600 --> 0:32:44.360 our thoughts that are maybe a little more practical. Uh. 0:32:44.400 --> 0:32:46.360 And you know, a shift in the way you think 0:32:46.400 --> 0:32:49.160 about things may not seem very practical, but we feel 0:32:49.200 --> 0:32:52.040 that this is such a powerful way of you know, 0:32:52.120 --> 0:32:54.520 changing how it is that you view everything in the world. 0:32:54.560 --> 0:32:55.960 That we wanted to make sure that we ended on 0:32:56.080 --> 0:32:59.240 this high note for sure. Yeah, and proper perspective is 0:32:59.240 --> 0:33:02.600 such an important heart of being able to be resilient 0:33:02.760 --> 0:33:05.800 and to develop grit. Matt One of my favorite economists, 0:33:05.800 --> 0:33:08.680 Thomas Soul when he was talking about the economic concept 0:33:08.760 --> 0:33:11.600 of scarcity in his book Basic Economics, I know, I'm 0:33:11.600 --> 0:33:14.120 really cool. I read really think economist textbooks and it's 0:33:14.160 --> 0:33:18.400 fun rich mahogany, like the smell of leather exactly in 0:33:18.440 --> 0:33:20.560 my library with the ladder that goes back and forth. 0:33:20.800 --> 0:33:24.400 But he said that middle class Americans desires exceed what 0:33:24.440 --> 0:33:27.760 they can comfortably afford, even though what they already have 0:33:28.280 --> 0:33:32.280 would be considered unbelievable prosperity by people in many other 0:33:32.280 --> 0:33:36.160 countries around the world, or even by earlier generations of Americans. 0:33:36.200 --> 0:33:38.160 And he summed it up by saying, there has never 0:33:38.200 --> 0:33:41.760 been enough to satisfy everyone completely. And to me, Matt 0:33:41.800 --> 0:33:43.320 I read that in my job kind of dropped him 0:33:43.320 --> 0:33:45.640 like this is in an economics textbook and he's speaking 0:33:45.680 --> 0:33:48.320 like to the heart of humanity that there is never 0:33:48.480 --> 0:33:50.840 enough to satisfy us. And we have to realize that 0:33:50.920 --> 0:33:53.200 we have to take on this perspective in order to 0:33:53.240 --> 0:33:56.760 become grittier. We can become a slave essentially to our 0:33:56.800 --> 0:33:59.560 wants and desires, and we have to realize that there's 0:33:59.640 --> 0:34:02.239 never going to be enough that's going to satisfy us 0:34:02.600 --> 0:34:04.960 if we do take that road, and so we almost 0:34:05.080 --> 0:34:08.160 have to develop grit because the only other option is 0:34:08.200 --> 0:34:11.200 disappointment and unhappiness. Yeah, dude, having the right perspective is 0:34:11.239 --> 0:34:14.000 so important. It makes me think of George Banano, who 0:34:14.080 --> 0:34:17.880 is a psychologist at Columbia University's Teachers College who has 0:34:17.880 --> 0:34:20.239 been studying resiliency for decades, and he asked the question, 0:34:20.280 --> 0:34:22.920 do you conceptualize an event as traumatic or as an 0:34:22.960 --> 0:34:26.920 opportunity to learn and grow? Events are not traumatic until 0:34:27.000 --> 0:34:29.560 we experience them as traumatic, and so you know, basically 0:34:29.600 --> 0:34:31.040 what he's saying is that we have the ability to 0:34:31.080 --> 0:34:33.320 filter the events that happened to us. You know, we 0:34:33.320 --> 0:34:35.920 can let them weigh us down, inhibiting our ability to 0:34:35.920 --> 0:34:38.560 construct a more meaningful future, or we can use them 0:34:38.560 --> 0:34:41.839 as stepping stones to to something greater. And so again 0:34:41.880 --> 0:34:44.719 George says that we can make ourselves more or less 0:34:44.800 --> 0:34:48.560 vulnerable by how we think about things. And so, you know, 0:34:48.640 --> 0:34:50.840 this is why we're talking about this, because reframing negative 0:34:50.880 --> 0:34:53.200 things that happened to us is a powerful tool to 0:34:53.320 --> 0:34:57.600 build grit. Framing is so crucial. And yeah, I know 0:34:57.640 --> 0:35:00.000 we're getting I feel like a little meta here or 0:35:00.160 --> 0:35:02.640 or even a little off the money track to talk 0:35:02.680 --> 0:35:04.640 about this mindset, but but we do think it's so 0:35:04.680 --> 0:35:08.799 important that reframing that proper perspective, and that it makes 0:35:08.800 --> 0:35:10.759 me think too of Like I mean, I don't know 0:35:10.800 --> 0:35:13.480 if you've ever read Man Search for Meaning. It's it's 0:35:13.480 --> 0:35:16.759 actually a pretty short book, but it's a really powerful one. 0:35:17.120 --> 0:35:19.680 And the author was Victor Frankel, and he was stood 0:35:19.800 --> 0:35:23.919 a lot of horrific things in concentration camps of World 0:35:23.960 --> 0:35:27.480 War Two, and really what he credits his ability to 0:35:27.920 --> 0:35:31.600 continue living everyday life in the face of such atrocity 0:35:32.080 --> 0:35:35.200 is his belief that life can have meaning even in 0:35:35.239 --> 0:35:39.400 the most miserable of circumstances, and and that motivation comes 0:35:39.400 --> 0:35:42.359 from finding that meaning. And part of his meaning was 0:35:42.480 --> 0:35:44.360 this book he had in mind that he wanted to write, 0:35:44.360 --> 0:35:46.160 that he wanted to get out there and not helped 0:35:46.200 --> 0:35:49.040 him get through some of the worst days any of 0:35:49.120 --> 0:35:52.279 us could ever imagine living through. And part of developing 0:35:52.280 --> 0:35:54.920 this solid perspective is to take a step back and 0:35:54.960 --> 0:35:57.600 look at our current reality and how that compares to 0:35:57.640 --> 0:36:00.200 the scores of others who are currently living and those 0:36:00.200 --> 0:36:02.320 who lived before us. We talked about this in a 0:36:03.000 --> 0:36:05.880 fairly recent episode on Luck. But we live in the richest, 0:36:06.320 --> 0:36:09.359 safest society in the history of the world, and yet 0:36:09.360 --> 0:36:13.960 there's this distinct lack of satisfaction in so many lives 0:36:14.000 --> 0:36:16.560 around this country. It's really hard to figure that out. 0:36:17.160 --> 0:36:20.200 That comes from not having a real perspective about what 0:36:20.400 --> 0:36:23.200 a good life looks like. And in Victor Frankel's case, 0:36:23.200 --> 0:36:25.600 you don't even have to live in abundance in order 0:36:25.640 --> 0:36:27.760 to find real meaning. And I think we can all 0:36:27.840 --> 0:36:30.839 draw lessons from that right that we don't have to 0:36:31.000 --> 0:36:33.680 have all the things in order to be happy and actuality. 0:36:34.040 --> 0:36:36.840 In all likelihood, having fewer things is probably going to 0:36:36.920 --> 0:36:39.799 make us happier, that's true. Yeah, And so you know, 0:36:40.040 --> 0:36:42.320 a key aspect of developing grit in our lives is 0:36:42.400 --> 0:36:45.960 viewing our money goals as more of a challenge instead 0:36:46.120 --> 0:36:48.400 of an obstacle, you know. And and we feel that 0:36:48.440 --> 0:36:50.760 this is going to provide the mindset that we need 0:36:51.080 --> 0:36:53.640 to be able to accomplish our goals and so frame 0:36:53.680 --> 0:36:56.359 those those setbacks as maybe a hurdle to leap over 0:36:56.400 --> 0:36:58.279 instead of something that's just you know, bound to trip 0:36:58.360 --> 0:37:00.319 you up. Uh. And you know, this kind of starts 0:37:00.320 --> 0:37:03.239 to get into a related finished concept of c su uh. 0:37:03.280 --> 0:37:05.120 That's you know, s I s u if you haven't 0:37:05.120 --> 0:37:06.799 heard the term before. But that's where there's like this 0:37:06.880 --> 0:37:11.040 determination and almost a joy and experiencing adversity. But you know, 0:37:11.040 --> 0:37:13.520 we would recommend for our listeners to be resolute in 0:37:13.560 --> 0:37:17.160 the face of adversity and to see these different challenges 0:37:17.160 --> 0:37:19.000 and hardships that you might encounter as something that you 0:37:19.080 --> 0:37:22.680 can even welcome or embrace rather than avoiding altogether. We 0:37:22.719 --> 0:37:24.960 feel that that's maybe the best way to develop grit 0:37:24.960 --> 0:37:27.960 in your life. And even though just changing the way 0:37:28.160 --> 0:37:30.240 you think about things and changing the way you see things. 0:37:30.640 --> 0:37:34.120 It feels very nebulous and it's hard to to kind 0:37:34.120 --> 0:37:36.759 of wrap your hands around. But if you are able 0:37:36.800 --> 0:37:38.799 to do that, you're gonna find that that's probably also 0:37:38.880 --> 0:37:41.000 to the most practical thing that you can do, because 0:37:41.400 --> 0:37:43.959 you can apply that to anything and everything in life 0:37:43.960 --> 0:37:46.279 that you encounter, uh that you know some on the 0:37:46.320 --> 0:37:49.320 outside might might see as negative. Instead with a proper perspective, 0:37:49.360 --> 0:37:51.520 it's something that you can see as something that will 0:37:51.520 --> 0:37:53.920 allow you to grow even more. All right, man, I 0:37:53.920 --> 0:37:56.000 feel like this was a bit of a heavy episode, 0:37:56.120 --> 0:37:59.560 certainly a little bit outside of go into World War two, 0:37:59.560 --> 0:38:03.000 a little bit our natural tendency and the wheelhouse that 0:38:03.040 --> 0:38:05.319 we'd like to to stay in. But we thought this 0:38:05.400 --> 0:38:07.799 was an important thing to talk about. And I do 0:38:07.920 --> 0:38:11.759 think that developing more grittiness in our lives is going 0:38:11.800 --> 0:38:15.560 to have just a massively positive benefit for people in 0:38:15.600 --> 0:38:18.839 their personal finances, in the more rapid ability to make 0:38:18.880 --> 0:38:21.520 progress towards those more meaningful financial goals that they have. 0:38:22.040 --> 0:38:24.839 So hopefully this wasn't to open the clouds, and there 0:38:24.920 --> 0:38:27.080 was some really good stuff for you to take away 0:38:27.400 --> 0:38:30.040 in this episode two, But Matt Let's quickly moved back 0:38:30.080 --> 0:38:32.359 to the beer that we had on today's episode. This 0:38:32.400 --> 0:38:34.560 one is called Pales in comparison. It's a double dry 0:38:34.600 --> 0:38:37.440 hopped pale ale by Edmund's Oast brewing out of Charleston, 0:38:37.520 --> 0:38:39.439 South Carolina. What were your thoughts on this beer? Man, 0:38:39.560 --> 0:38:42.440 Edmund's Oast always makes some really delicious beer. Um, and 0:38:42.440 --> 0:38:43.960 I'll say, as we poured this one, this one was 0:38:44.120 --> 0:38:47.279 especially pale. Is a nice, beautiful pale yellow and the 0:38:47.320 --> 0:38:50.840 perfect beer, uh, to enjoy after you and I so 0:38:50.880 --> 0:38:53.239 we both hopped on our bikes this afternoon and rode 0:38:53.280 --> 0:38:55.480 over and picked up the girls from school. This is 0:38:55.480 --> 0:38:57.480 the kind of beer you want in the spring as 0:38:57.480 --> 0:39:01.320 it's warming up to be enjoying. You talk about grit, 0:39:02.239 --> 0:39:04.760 you know, but yeah, really good. You know, there's definitely 0:39:04.760 --> 0:39:07.920 a lot of hot presence without being overwhelming. I'm definitely 0:39:08.000 --> 0:39:10.480 enjoying these these hoppy pale ales. But yeah, what were 0:39:10.480 --> 0:39:12.879 your thoughts? Yeah, you want the sweat in your hair 0:39:13.040 --> 0:39:15.680 and the burned calves before you start trying to start 0:39:15.719 --> 0:39:17.680 drinking this one. Yeah, it was. It was delightful. Man. 0:39:17.760 --> 0:39:21.359 It is a refreshing pale ale that is perfect after 0:39:21.400 --> 0:39:23.359 a bike ride. And it's nice, as we're talking about 0:39:23.719 --> 0:39:26.400 this episode, to be able to like experience, you know, 0:39:26.480 --> 0:39:29.000 just the taste of some of the rewards of what 0:39:29.040 --> 0:39:31.399 we work so hard for. Right, It's like we are 0:39:31.400 --> 0:39:34.560 gritty because then we get to enjoy delicious beers like this, Right, 0:39:35.239 --> 0:39:38.320 you earn those calories exactly. Yeah. The bike ride almost 0:39:38.360 --> 0:39:40.800 like makes it makes it even more beautiful and tasty. 0:39:40.880 --> 0:39:42.600 So yeah, I think I think so. All Right, Well, 0:39:42.600 --> 0:39:44.320 that's gonna do it for this episode. For folks that 0:39:44.400 --> 0:39:46.239 want the show notes for this episode, you can go 0:39:46.280 --> 0:39:48.759 to our website, how to Money dot com. Yeah, and 0:39:48.800 --> 0:39:51.240 if you enjoyed this specific episode, this isn't our typical 0:39:51.440 --> 0:39:54.080 kind of topic that we covered, but hopefully this one 0:39:54.239 --> 0:39:56.360 resonated with you. And if you haven't left us a 0:39:56.400 --> 0:39:59.720 review over at Apple Podcasts or wherever you listen to podcasts, 0:39:59.719 --> 0:40:01.200 we would love it if you were to head over 0:40:01.280 --> 0:40:04.000 there leave us a solid review, and we thank you 0:40:04.160 --> 0:40:06.680 in advance. So, Joel, that's gonna do it for this episode, buddy. 0:40:06.760 --> 0:40:09.719 Until next time, Best Friends Out, Best Friends Out.