Shownotes
In this enlightening episode of "Money Talk With Tiff," hosts Tiffany Grant and Clifton Corbin, along with financial experts Gabe Walters, Deb Meyer, and Kelly Sjostrom, answer listeners' burning questions about personal finance, investing, and family budgeting. The episode serves as a powerhouse of actionable advice tailored to inspire and educate on achieving financial wellness and generational wealth.
Live video: https://youtu.be/B7KV9MT7SFg
Key Points Discussed
- Budget Nirvana Course: Tiffany discusses the importance of money mindset and practical tools for tracking and budgeting.
- One-Page Financial Plan: Gabe Walters breaks down how to build a simplified financial plan that aligns with personal goals and offers steady support through his platform, Steady Worth.
- Holistic Financial Planning: Deb Meyer speaks on the nuances of planning for families and small business owners and the need for tailored financial advice.
- Raising Generational Wealth Summit: Hosted by Clifton, this online event features over 20 experts discussing key strategies to foster financial literacy among families. Visit the site for more information.
- Practical Financial Experiences for Kids: Tiffany shares insights into teaching kids about money through real-life practices like checking accounts and sale shopping.
- Importance of Financial Communication: The episode highlights the necessity of open discussions about money within partnerships and families to foster a supportive community.
- Aligning Values and Spending: Gabe emphasizes matching spending habits with personal values, highlighted by practical examples including lifestyle choices like minimalism.
Join "Money Talk With Tiff" on your favorite podcast platform. Don’t forget to subscribe and leave us a review if you found the insights valuable! Engage with us on our social media (@moneytalkwitht) for more updates and in-depth discussions about personal finance.
Copyright 2024 Tiffany Grant
This podcast uses the following third-party services for analysis:
Chartable - https://chartable.com/privacy
Transcripts
You know what it is. That's right. It's time to talk money with your money
Speaker:nerd and financial coach. Now tighten those purse strings
Speaker:and open those ears. It's the money talk with Tiff
Speaker:podcast. Hey,
Speaker:everyone. I just wanted to say that this is a special
Speaker:episode of the Tiffany's take. Tuesday,
Speaker:I went live with three, four
Speaker:other personal finance creators
Speaker:and influencers, and we did, like us, any, anything
Speaker:roundtable as part of the raising generational wealth
Speaker:summit that happened last week. If you didn't get a chance to check that out
Speaker:or you're not following me on social, first of all, go ahead and follow me
Speaker:on social. And then second of all, I'll make sure I have a link to
Speaker:that summit in the show notes. Although it's over, they still have the
Speaker:replays available, so definitely check it out. I had a
Speaker:session on your money mindset, which did very well.
Speaker:I've gotten a lot of positive feedback about it, so I hope that you check
Speaker:it out. But without further ado, I am going to play you the
Speaker:replay from the xs, anything, because it's full of gems. So,
Speaker:yes, this episode is going to be a little long, not like our usual
Speaker:shorter episodes, but I promise you will learn something. So
Speaker:enjoy. Right. Hi, everyone. How's. How's it going?
Speaker:I'm super excited to be doing this, and I need to get my
Speaker:setup going here. I want to
Speaker:thank the three of you or four of you, pardon me, for
Speaker:popping into this live. I wanted to do. Man, I wanted to
Speaker:do this live so badly, and I was like, I don't know if there's going
Speaker:to be enough capacity. I don't know how this thing's going to go. Being the
Speaker:first summit, you know, you never know. You just never know how things are going
Speaker:to go. But I knew I wanted to have a live component. I knew I
Speaker:wanted to have you folks at this thing because I know the questions that
Speaker:are coming, they're coming for you. We've got our money mindset person, Tiffany
Speaker:Grant. Tiffany, do you want to do a quick intro? Yeah, sure. My
Speaker:name is Tiffany Grant. I run money talk with TIFF, which is a financial education
Speaker:platform in the form of a blog and a podcast social media
Speaker:presence. Try to make money fun. So, hey.
Speaker:All right, so that's Tiffany Grant. And then we've got.
Speaker:We've got Kelly here as well. Kelly, do you want to do a quick intro?
Speaker:Yeah. Hi, everyone. My name is Kelly Shostrom. Kelly shostrom.com
Speaker:dot. I also have a podcast called budgeting Period. And
Speaker:educating folks on mainly the beginning parts of personal finance,
Speaker:budgeting, and how to perform your dream life.
Speaker:Amazing. And we've got our man Gabe in the house. Gabe, you want to do
Speaker:your little intro, please? Yes. Hello, everyone. My name is Gabe
Speaker:Walters with steady worth@steadyworth.com. And we do
Speaker:financial planning, so we help people build a one page financial plan. And our
Speaker:whole goal is to one make money fun, but also just to make you more
Speaker:hands on with your money. So we want to have you more hands
Speaker:on so that you can be navigating to living the life of your goals.
Speaker:I love it. And our lovely Deb. Deb, can you do a quick intro
Speaker:for yourself, please? Sure. Hi, everyone. I'm Deb Meyer.
Speaker:I'm the founder of Worthy Nest, where we help parents build wealth in
Speaker:alignment with their values. So I'm a certified financial planner,
Speaker:and I've been helping families for many years navigate the complexities of
Speaker:building wealth, but not doing it in a worldly
Speaker:way, but also kind of thinking about their values, especially christian and
Speaker:catholic values, if they're trying to align those
Speaker:more thoughtfully with their finances. I love that. I love that.
Speaker:So, yeah, we've got, you know, we've got this open panel. I put out a
Speaker:call for questions to see if anyone had any questions. Nothing's really popped up. So
Speaker:this means I get the opportunity to ask questions, which is what I always love
Speaker:to do. So yesterday was our day one of the summit. It was
Speaker:our money mindset day. I wanted. And I told Tiff when I reached out to
Speaker:her, I'm like, tiff, you are my, you're my number one. I need someone who
Speaker:has a money mindset angle to kick
Speaker:things off. And, Tiff, I won't lie, I watched some of your session yesterday. I
Speaker:watched with my daughter, who's ten years old, and she was so into it. And
Speaker:I wish I'd take a picture of her watching your session, because that
Speaker:warmed my heart. And I just wanted to say one, thank you so much for
Speaker:doing that. If folks haven't caught that session yet, it's still available for, like, I
Speaker:think, another 12 hours or so. Tiff runs a masterclass. She basically runs a
Speaker:masterclass on shifting your mindset. So, Tiff, I just want to kind of
Speaker:open it up to you a little bit and just talk a little bit about
Speaker:why that's so necessary, why we need to focus so much on mindset when we
Speaker:start talking about money. Yeah. So mindset. So
Speaker:everything starts with mindset, because in all actuality, money
Speaker:is just a tool. And so everything that we do with our
Speaker:money all starts here. And so if you don't have that
Speaker:mindset right, or, you know, if you are,
Speaker:you know, there's so many different things. You're dealing with financial trauma. You're dealing
Speaker:with, you know, just being in a struggling
Speaker:mindset or anything like that, it really hampers your
Speaker:creativity and your ability to start using money as the
Speaker:tool that it is. So in my philosophy, money is just
Speaker:a form of energy. And so when we use our money, we're just exchanging
Speaker:energy. I love that. I love that so much. And
Speaker:honestly, your session, like I said, I was watching it with my daughter, it really
Speaker:breaks down. Not just like it's. And this is why I love this summit so
Speaker:much. We could easily just go through and say, this is what, you know, you
Speaker:should be thinking about or what have you, you actually walk through ways to help
Speaker:people, shifting that mindset. And I'm so grateful for that. And
Speaker:your session, like I said, it's powerful. It's super, super powerful. So for folks who
Speaker:haven't checked that out, go and check that out. But one of the things I
Speaker:wanted to make sure what we were doing is we're getting into the nitty gritty.
Speaker:We're actually doing things that help us move the needle with our
Speaker:personal finance. Which is why I started today off having
Speaker:Gabe as the first session, because I feel like once you get your mindset
Speaker:right, once you could start thinking about it. Now you need a plan. Right now
Speaker:you need to know what to do next. Which is why I had Gabe from
Speaker:study worth coming. So, Gabe, can you just talk a little bit about why that
Speaker:plan is so critical to getting your. To reaching those
Speaker:goals? Sure. You know, I always equate a financial plan. I say,
Speaker:you know, if. Imagine if you. I live down here in South Florida, like in
Speaker:our. The biggest mall by where we live at is Aventura Mall. And I say,
Speaker:imagine if you walk into Aventura Mall, this huge mall, and you say, hey, I
Speaker:want to go buy foot locker, but I also want to grab a cinnabon. And
Speaker:maybe I want to go to Old Navy as well. You know, the first thing
Speaker:you're going to do if you go into this huge mall, if you, you know,
Speaker:if you're not familiar, and I'm definitely not familiar with it at all, you have
Speaker:to go to the marquee. And the marquee on the marquee, you're going to basically
Speaker:find that you are here. And from there, you're going to plot all the different
Speaker:points in the mall you want to go to. And I see, you know, building
Speaker:the financial plan looks as the you are here point. It allows you to lay
Speaker:out everything that you have. It shows you exactly where you're at, and then it
Speaker:shows you what are the best parts to plot to your next points, which
Speaker:are your goals that you're looking to accomplish. And so, you know, so many people,
Speaker:I feel like, you know, they come, they're like, hey, I want to invest or
Speaker:I want to do this or I want to do that. It's like, hey, let's
Speaker:first organize your goals. Let's see where you're currently at and see what's the next
Speaker:current step for you so that you can get there in a strategic
Speaker:way. I love that. Thank you for that, Gabe. And then the other part
Speaker:of it, and I think this is the part that it trips up a lot
Speaker:of people. And this is, again, why I needed to have all of you folks
Speaker:here. It's once you've got that plan, once you've got that place,
Speaker:that thing in place, the part that usually comes up next is, okay, well,
Speaker:how do we reach it? What's the one tool that can actually measure the
Speaker:inputs and outputs to get us to where we want to go? And then we
Speaker:get that b word, right? And that b word is budgeting. And people get freaked
Speaker:out when they hear budgeting. They think, oh, this is what's going to keep me
Speaker:from doing and spending and all the things that I care about. And I see
Speaker:you there, Kelly, and I'm coming to you there, Kelly, because we really need
Speaker:to focus on the budgeting piece. And I'm going to have some specific questions for
Speaker:all of you in a moment. But I just want to do a quick little,
Speaker:you know, this is how we get from point a to point b. So, Kelly,
Speaker:tell us a little bit about why that budgeting piece is so, so critical.
Speaker:I don't know about you guys, but I'm still thinking about Cinnabon from whatever.
Speaker:Gabriel. The second he said that, I was
Speaker:like, how do I make that my reality? No, but you're
Speaker:absolutely right. And I have a course that goes through,
Speaker:and I don't do enough of the other things that Gabe and Tiff were
Speaker:talking about because we all are our own experts in our own areas. Right? But
Speaker:the budgeting piece is where I really, like can shine. Because
Speaker:once you figure out the, once you get your mindset right, that you can, you,
Speaker:you believe in yourself, you know, that this is just truly an energy. I believe
Speaker:that as well, Tiff, and that you can actually make progress
Speaker:and you forgive yourself for your past traumas. Then you got to figure out, okay,
Speaker:what are my goals? What's my north star? What do I want to do with
Speaker:my life? That's what Gabe was kind of talking about. And then my piece is,
Speaker:well, how do we actually do it? How do we not only build that, beware
Speaker:that budget, but how do we make sure that we're tracking our expenses along the
Speaker:way so we know for following this plant plan? How do we make sure that
Speaker:as life happens to us, we have a baby, we buy a house,
Speaker:somebody's income changes? How can we make sure that we're constantly working in
Speaker:that spending plan, reassessing and opening communication with
Speaker:our partner to make sure that we're staying on track and that we're
Speaker:getting all of our questions answered, kind of as life hits us. I
Speaker:agree with you. And then the last part that I wanted to talk about, and
Speaker:this, I think, is so critical, and I'm. You know, this event is an event
Speaker:for parents, right? Like, we can't. We can't talk about all of these things. One
Speaker:of the goals that we need to do is basically preparing our kids and being
Speaker:prepared for all eventualities, which is why, Deb, I'm so
Speaker:grateful that you're able to come and talk about what you're talking about. And I
Speaker:want you to get into that as well, because we. We, as parents, we need
Speaker:to be doing two things at once. Right? We need to be preparing for ourselves
Speaker:while we're also getting ready to, you know, help our. Help our
Speaker:kids launch into adulthood. And if there's anything that happens to
Speaker:us, we need to make sure that we can pass on whatever we were able
Speaker:to build onto them. So if you wouldn't mind, Deb, just talk a little bit
Speaker:more about what you do. Sure. Yeah. I work with
Speaker:families one on one as a financial planner, so really helping them. Once
Speaker:they've gotten the foundation, they've done their budgeting well, they have their
Speaker:mindset right. They're harvesting that abundance mindset that TIFF talked
Speaker:about and really trying to get them moving from a place
Speaker:of, okay, we have this extra cash flow
Speaker:at the end of each month. We've managed our bills well. What are the next
Speaker:steps? What goals are we going to be saving towards in the future?
Speaker:So one important piece of that holistic financial
Speaker:planning process is escape planning. And that's actually what my session is on
Speaker:today. It's really just knowing that you have a solid plan
Speaker:in place. If something were to happen to you, whether it's a
Speaker:disability, unexpected, or eventually, if you, you know, end
Speaker:up passing away, how are your loved ones going to be taken care of? And
Speaker:I know it's a very morbid topic. It's not something fun that most people want
Speaker:to be thinking about. But I mean, the sad truth is a lot of people
Speaker:don't have estate planning documents. And if they don't and something
Speaker:does happen, it's really hard for
Speaker:you to go through the probate process and have all of
Speaker:these unanswered questions from family members that are
Speaker:remaining. It just solidifies the process.
Speaker:So I'm not an attorney. I'm not trying to like, make an extra buck
Speaker:getting, getting estate planning work
Speaker:done, but I am a holistic CFP and
Speaker:financial advisor that really does focus on trying to make sure
Speaker:families are protected. And part of that protection is
Speaker:really just looking at the estate planning aspect
Speaker:and I. So the reason I sigh
Speaker:there is that you're right. It is so hard for us, especially
Speaker:as parents, to think about, you know, these potential eventualities
Speaker:that aren't pleasant to think about. But there's so many,
Speaker:pardon me, the things I say is, you know, we, we have to do the
Speaker:hard things, right? We have to lean into the hard things because that's what gets
Speaker:us to the hard places, the places we want to be, right. If we want
Speaker:to leave generational wealth, then we're going to have to do a little bit of
Speaker:sacrificing. We're going to have to do a little bit of planning. And if we
Speaker:want to make sure that our kids are prepared, no matter what eventuality may come,
Speaker:then we also have to make sure that we're thinking about all the potential
Speaker:eventualities. So, Deb, thank you for that. So I'm going to get into a few
Speaker:more specific questions, one that came up in the Facebook group.
Speaker:So for those who aren't already aware, this is the raising generational wealth.
Speaker:Ask me anything live. So, the
Speaker:raising generation of wealth virtual summit. I should have done this in the beginning. The
Speaker:raising generational wealth virtual summit is a summit to help busy
Speaker:parents get comfortable talking about money, teaching money,
Speaker:raising generational wealth, and then hopefully passing on some of that
Speaker:knowledge and wealth onto their kids. It's an event that's happened over
Speaker:three days. Day one was yesterday. We're in the middle of day two. Day three
Speaker:is tomorrow, and all of the presentations are on demand and
Speaker:they're virtual. So if you want, you can jump onto the website raising
Speaker:generationalwealth.com sign up. It's 100% free.
Speaker:We've got over 20 speakers who are all donating themselves. These are four of our
Speaker:expert speakers right here. They're all donating their time, their expertise to
Speaker:help us get better with our money. So hopefully we can also raise
Speaker:the generational wealth of our families and our kids and our kids families.
Speaker:So getting into some of the questions that I saw up in the Facebook group,
Speaker:one of the ones, and I'm getting back to you here, Kelly, was about budgeting
Speaker:and how do you make budgeting work for you? And I know you, and I've
Speaker:had these conversations in the past, but I wanted to have you kind of speak
Speaker:about, like, how do you make budgeting work? Because I know a lot of folks,
Speaker:they try it, something doesn't work, and then that's it. So
Speaker:what are your, what are your thoughts there? What are you thinking, Kelly, when it
Speaker:comes to budgeting? And I'll open this up to everyone in a moment as well.
Speaker:Yeah, I'm sure, you know, seeing a lot of these folks at conferences as well.
Speaker:We all have opinions on budgeting and how to do it. And so I'm curious
Speaker:to see what others say, too. But when you said, how do you make budgeting
Speaker:work for you, that was kind of the key phrase there,
Speaker:because I can't just tell you about this app that I use, and this is
Speaker:what my husband and I do, and because it is truly up to you and
Speaker:how what works best for you and your family. And so what I would say
Speaker:is, keep trying things until something starts to feel like,
Speaker:okay, this is possible, right? And I would say, don't
Speaker:give up. Don't lose faith because something doesn't work the first time or
Speaker:two. This is, you're reversing an
Speaker:entire system mindset that you've done or
Speaker:avoided your entire life. And all of a sudden, overnight, you're like, I'm going to
Speaker:start being a budgeter, and it just doesn't work that way. Just like I'm going
Speaker:to start working out every day. It takes some time and it takes some commitment
Speaker:and some practice with all of that, you know, you can do, there's
Speaker:different apps out there that you can sign
Speaker:up for that you can actually keep track of all of your categories within those,
Speaker:whether it's an app, you can also use the spreadsheet. There's Excel has free
Speaker:templates. I have free templates. I'm sure half the people on this conference has free
Speaker:templates. No excuses. Where you don't have a spreadsheet, there
Speaker:are spreadsheets everywhere. And you can also use a good old fashioned envelope
Speaker:system where it's just plain cash and you have it in envelopes. And that way
Speaker:when you walk into the grocery store, you know exactly how much money you're playing
Speaker:with. All that aside, whatever method you
Speaker:decide to use, you can do a combination of it. Maybe you only have cash
Speaker:for restaurants or things that you overspend in. Maybe you want to use an app
Speaker:just to kind of keep your high level strategy, you know,
Speaker:tracks. But you want to make sure that you have an Excel
Speaker:spreadsheet for the day to day expenses, whatever it is for you and your family,
Speaker:whatever technology feels right, whatever you kind of normally
Speaker:gravitate, I would say start trying that right away. And then when
Speaker:you find that you're messing up or that you're not able to stick to
Speaker:something, truly have a little bit of introspective conversations and
Speaker:figure out what's causing me to, quote unquote,
Speaker:fail. Do I not have enough reminders or am I not
Speaker:setting up systems in my household to make this automated
Speaker:and have conversations with your spouse as well? Because you want to make sure that
Speaker:you're both on the same page. Oh, my gosh. There's so
Speaker:many parts that I want to pick. It's so good.
Speaker:Everything you said was brilliant. Everything you said was brilliant. I'm going to pick up
Speaker:on a few points. You mentioned. Cash envelope budgeting for folks
Speaker:who've registered for the summit. I've got, one of our sessions is
Speaker:with Shane Walker. He is the CEO of
Speaker:Cubemoney. It's a digital cash envelope budgeting system.
Speaker:He's giving away 60 days free just to try it. And apparently,
Speaker:like, with that system, you're. They're almost, they're saying you'll
Speaker:save, like, hundreds of dollars just by giving it a try.
Speaker:I've seen it. I love it. I think it's a great, I think it's a
Speaker:great app. You're right. There's, there's so many. You could do paper
Speaker:and pen. You could do spreadsheets. We have worksheets in the.
Speaker:I think it's in the goody bag or somewhere. I know it's somewhere. I know.
Speaker:One of our speakers, Jess, has offered, you know, a budgeting
Speaker:template. I know in my course I have a budgeting template. There's so many
Speaker:around there. You just have to find what works for you. Like, there really
Speaker:is a trial and error thing. Until you figure out the thing that
Speaker:works for you. I know some folks, you need a budget, and a lot of
Speaker:people love it and other people hate it. So it's really about finding the thing
Speaker:that works best for you. And then you also touched on right at the
Speaker:end, you need to kind of shift your mindset a little bit. You talked, you
Speaker:said the words. So I'm coming back to you here, Tiffany. What are
Speaker:some things you can do? Let's say you start using a
Speaker:budget and you're like, this isn't working for me. And then
Speaker:what are the things you need to do internally to say, okay, I'm
Speaker:going to either stick with this or I'm going to try something else. And actually
Speaker:accepting this is something that I think will be good for me. Is there something
Speaker:that we could be doing? And I just realized I got my name here. It's
Speaker:Kelly. Is there something that we could be doing to help
Speaker:people start making those shifts of mindset?
Speaker:Yeah. So one thing I went over in my session
Speaker:was looking at budgeting as giving you permission
Speaker:versus restricting you. So budgeting is my jam as well. I love
Speaker:it. But that's just one example of how you can make it
Speaker:easier to stick to. And I used the example of dieting. So if
Speaker:you say, oh, I'm gonna lose weight or I'm gonna feel healthier and I'm
Speaker:gonna diet. Right, so diet has this negative connotation, kind of like
Speaker:budgeting does. But if you look at budgeting
Speaker:as, oh, this is actually going to give me permission to do the things that
Speaker:I want to do in life, or you look at dieting like, oh, this is
Speaker:going to allow me to live a longer, healthier
Speaker:life. And you flip that perception from a
Speaker:negative to a positive, then you're more apt to use it and then
Speaker:also realize, like the other speaker said,
Speaker:it takes time. So I tell people it takes a good
Speaker:two to three months to get your budget right and get it to a point
Speaker:where you can stick to it consistently. And I usually start
Speaker:people with tracking, so don't even go into the full
Speaker:budgeting process to start off. Just start tracking what you're already
Speaker:doing. And honestly, that usually helps people
Speaker:kind of curb their spending in some ways as well. So you can always
Speaker:ease into it and just go at it slowly, slow, go at it
Speaker:at your own pace, and you can look at what other people do,
Speaker:but don't think that that is what you have to do. There's so
Speaker:many different ways to do it. Thank you for that. So one of the
Speaker:things that I wanted to
Speaker:when it comes to personal finance, it can get. It could feel complicated. I'm not
Speaker:saying it is complicated, but there's a lot of pieces, right? So
Speaker:when it comes to making sure we've got our money, right, how do we
Speaker:make all this fit? So, Gabe, I'm coming to you. And then, Deb, I'm going
Speaker:to come to you because you guys both kind of talk about planning and putting
Speaker:these pieces together. So how do you take
Speaker:a budget and a financial plan and marry the two to
Speaker:actually meet your goals? And like I said, I'm just going to come to you,
Speaker:Gabe. And then Deb, you're right up after that. I think, you know,
Speaker:Deb kind of touched on it a little bit. She was like, you know, as
Speaker:a CFP, you know, things we talk about is like, holistic financial
Speaker:planning. And so that kind of like, that holistic financial planning is
Speaker:touching on, I would go as far as to say, as many little plans
Speaker:inside of a big plan. So I kind of see that that financial plan is
Speaker:kind of like that bigger plan. But inside of that bigger plan, you have your
Speaker:estate plan, which is a smaller plan. Inside of your financial plan. You have your
Speaker:tax plan, which is a smaller plan inside of your financial plan, your budget, which
Speaker:is your spending plan inside of your financial plan. You know, if you're managing
Speaker:debt, that also has a plan inside your financial plan, insurance. And so,
Speaker:like, the financial plan is kind of like your master plan, then you have these
Speaker:smaller components which make up this holistic financial plan. And
Speaker:so I feel like, you know, as you're clear, but it all kind of, everything
Speaker:is tracking back to your goals. So kind of, like, as you're clear on
Speaker:those goals, then you're able to marry all of these smaller financial plans
Speaker:together. And as I believe it was tiff who just said it, talking about,
Speaker:like, equating budgets to working out or to
Speaker:dieting, you know, like, all of a sudden, if you're clear
Speaker:on, like, hey, these are my goals that I'm trying to accomplish, it makes that
Speaker:budget a lot easier to accomplish it. You know, like, it's like, hey, I'm trying
Speaker:to have a six pack this summer at the beach. It might make not eating
Speaker:ice cream last night a lot easier, which. That actually didn't work for me because
Speaker:I did have ice cream. Full disclosure.
Speaker:But, you know, so. But, you know, as you're clear on that thing, then it
Speaker:helps marrying these smaller plans together, because these smaller plans are
Speaker:actually working together for this bigger picture that you're hoping to accomplish.
Speaker:And, Deb, what are your thoughts there? Yeah, I mean, I think
Speaker:Gabriel hit it on the head. It is part of that comprehensive planning process
Speaker:when you have all of these kind of multiple facets. But I
Speaker:would say even when you're just trying to look at your budget, kind of see
Speaker:at the very beginning, okay, do I have extra cash at the end of each
Speaker:month? That's question number one. And if I don't, understanding,
Speaker:okay, do I need to increase the income? Do I need to decrease the expenses?
Speaker:Or a combination of the two? And just starting off with that simple
Speaker:realization now, hopefully you're in the black and you
Speaker:have extra, and you're like, okay, now what do I do in terms of
Speaker:actually saving that? Do I put it into a short term
Speaker:cash, I call it opportunity fund, or do
Speaker:I put it into something more long term, like college education
Speaker:plan or a retirement account?
Speaker:Like those kinds of questions. That's what
Speaker:planning process. So we're always at that evolution of
Speaker:trying to understand exactly where your goals are, where your
Speaker:objectives are, and crafting a plan specific to you that
Speaker:we can move forward with. And knowing that life changes along the way
Speaker:and different goals are going to arise. It's not,
Speaker:obviously not stagnant. That's change is one certainty of life.
Speaker:So just understanding that over time, it's going to evolve. And being able
Speaker:to come back and talk with a trusted advisor is really
Speaker:important if you're trying to make some measurable impact on your long term
Speaker:financial goals. I love that. So I'm going to switch gears a bit.
Speaker:One of the things summit is, like I said, it's for parents.
Speaker:So my thing is all about teaching parents how to teach financial
Speaker:literacy to their kids. There's a question in the Facebook
Speaker:group about how do you help teach kids financial literacy and how do
Speaker:you teach them financial concepts. I have some answers for that one. I have some
Speaker:things I want to add to that comment, but I'll open it up to the
Speaker:four of you. Is there anything that you, anyone wants to add to
Speaker:how you can help get some financial literacy into your kids?
Speaker:I'll go first because I have the littlest opinion,
Speaker:so I'll go first. And I always, when I speak with people, tell
Speaker:them to find somebody that teaches you about your money and your
Speaker:kids, because there are so many opinions out there about, like,
Speaker:allowances and whether you should pay your kids just to breathe or they have to
Speaker:do something for it. And I think, I think there is
Speaker:no technically wrong answer. It kind of depends on, you know, what, what your
Speaker:strategy and what your long term goals are. But I will say that they just
Speaker:need to be a part of the conversation. So whether or not you give them
Speaker:an allowance or whether or not they want to, you know, spend
Speaker:money at the store, they should be involved at an age appropriate level, of
Speaker:course, to know, hey, we're not buying this, not because we, quote
Speaker:unquote, can't afford it, but because it's not in our plan or, hey, we have
Speaker:this money to spend, let's do something with it. And of course, it's really important
Speaker:to make sure that they're on the same page as the rest of the family
Speaker:for spending money, for saving money, and for donating
Speaker:money. And so how you get them involved in these conversations is where I
Speaker:would lean on some of the experts, but it's absolutely critical that they are part
Speaker:of the conversations. I agree with all of that. And then
Speaker:I will jump in here just as a, if I can, because I haven't said
Speaker:much. I've just been chatting with you guys. But when it comes to
Speaker:helping teach our kids about financial literacy, Kelly, spot
Speaker:on. Getting them involved and being open and
Speaker:honest and being willing to have these conversations with them and
Speaker:talking to them and letting them know how money works
Speaker:and what we do with our money, how we get our
Speaker:money and all of these pieces of money, I think it's critical that
Speaker:we tell them that. We actually let them know, well, what is money?
Speaker:How does it work? And that's for the little ones. And as they get older,
Speaker:we want to give them opportunities to use it. The more they have a chance
Speaker:to use and practice using money before they need it, the more
Speaker:chances they have to learn and gain all the experiences that they need, or as
Speaker:many as possible, so that once they do become young adults and they have to
Speaker:function in this world of ours, they have the skills that have been
Speaker:established through you as their coach and their advisor right beside them
Speaker:so that they can start moving into, like I said, into adulthood with
Speaker:success. So when it comes to this one, and I have a session on day
Speaker:three, actually, there's a bunch. Day three is really about. This is when, you know,
Speaker:when it comes to, like, helping our kids learn financial literacy, day three is when
Speaker:it kind of blows up, because I'm talking. I've got Dan sheiks. He's going to
Speaker:talk about financial independence for young people. We've got Rob Phelan, who's going to
Speaker:be talking about how to help young people learn about becoming
Speaker:young entrepreneurs. We've got Maya Corbeck, she's amazing. She's going to
Speaker:be talking about teaching young people about investing. Got Will Rainey. He's going to be
Speaker:talking about how to get kids to understand the rules of wealth and how to
Speaker:follow them. And that's not to mention all the stuff that's already come up. So
Speaker:if you register to day for the virtual summit for the raising generation of
Speaker:wealth virtual summit on day one, we had David
Speaker:Delisle talking about money mindset and only buying your awesome
Speaker:stuff. We had a few speakers who were talking about
Speaker:becoming financial role models and becoming, teaching kids to grow
Speaker:up with a wealth conscious mindset. And that's not to mean being
Speaker:about getting more and acquiring more, but just being aware that wealth is
Speaker:necessary to move forward in our world with the options
Speaker:that we all kind of want to have. So there's so much value here. So
Speaker:for folks who are interested in helping their kids learn about money, there's a
Speaker:lot of that in the summit as well. So you can register, there's a QR
Speaker:code on the screen. You can go to raising generational wealth.com and
Speaker:you can jump into the summit. The, like I said, day one, some
Speaker:summit presentations are still available for another twelve or so hours.
Speaker:And day two is on right now and day three gets released tomorrow. And I
Speaker:think, tiff, you said you wanted to add to this as well.
Speaker:Yeah, just to continue the conversation. I totally agree
Speaker:with, including your kids. I know when I grew up, it was a household where
Speaker:I wasn't included on anything, so I learned nothing. And so I
Speaker:make a conscious effort to make sure that they are involved with a lot of
Speaker:my decision making and stuff as well. So to give you an
Speaker:example, when we used to go to the grocery store,
Speaker:anytime they would ask for something, I would say, well, it's not on sale.
Speaker:Right? So after a while, they wouldn't ask for anything unless
Speaker:they saw the sales sticker. So that was teaching them, like,
Speaker:I am being conscious about how much we're spending. I only like to buy
Speaker:things that's on sale, so don't come to me unless it's on sale. So then
Speaker:they started getting smart and doing that. And then also, you know,
Speaker:I also grew up where, you know, you get asked the question, do you have
Speaker:McDonald's money? Well, now I can't do that with my kids because
Speaker:they will tell me, yes, you can use my
Speaker:money. And I make sure that they are well aware of how much they have
Speaker:in their account, how much they have spent. And even
Speaker:with my teenager, my oldest son when he
Speaker:first became a teenager. So at 13, that was part of like
Speaker:his introduction to teenage years. I took
Speaker:him to the bank and he opened up a checking account, got a debit card,
Speaker:and then I made him look at his statement every month, like, well at
Speaker:first made him do it because he didn't know. And then now he looks
Speaker:at it every month to make sure everything is flowing as it, it should. I
Speaker:let them know about what their investments are looking like. They're five to
Speaker:nine and they're like, oh my gosh, like that's how much money I have.
Speaker:And so, you know, just keeping them in the loop on all of these different
Speaker:things I feel is helpful for them in the future. I mean, time will
Speaker:tell, but hopefully they're listening. No, it's true. And
Speaker:I've done similar things with mine where, you know, I've got their education
Speaker:account opened up and not all the time, but on a semi regular
Speaker:basis. When I look at it, I'm like, man, that's a lot. That's more than
Speaker:I've got right now. So I'll point, I'll show to him, I'll be like, this
Speaker:is what you've done. And now my son, because he's been around me and
Speaker:he's of similar disposition to I am or
Speaker:I was, he's very curious about money and he's curious about investing.
Speaker:So he started to, you know, through me, through my
Speaker:brokerage account, he's bought a few investments of his own. And it's because
Speaker:he's seen me talking about it, he's heard me talking about
Speaker:it, a lot of the books that our speakers have. So I mentioned
Speaker:Maya Corbeck. She just released a book called from Piggy Banks to Sock. He saw
Speaker:that and he got super invigorated to buy more investments.
Speaker:He heard about Dan Sheiks talking about retiring in your early twenties and
Speaker:thirties and hes like, wait, what? Thats a possibility. And I was like, if you
Speaker:get your stuff together, its a possibility. And he got super hes like, so how
Speaker:much do I need of my allowance? So I need to save to get a
Speaker:down payment so I can start house hacking. Going to be twelve next week. Like
Speaker:this is a twelve year old talking about house hacking. So it's possible, but we
Speaker:need to introduce these concepts to them so that they know what's available to them.
Speaker:I'll take it back to like when I went off to school or when I
Speaker:was about to go off to college. Like I took the
Speaker:opportunity that I knew was available to me. But I knew such a small
Speaker:subset of all the possibilities. Had I known there was more opportunities,
Speaker:there's more things I could have done. I might have taken something else, say I
Speaker:regret any of my choices. It's just to say having a wider
Speaker:breadth of knowledge of options really can help our kids
Speaker:start to navigate this world a little bit more deeply. So I was going to
Speaker:take it to another. I'm going to take it to another question in a moment,
Speaker:but did anyone want to add to that? Because if we're talking about kids and
Speaker:money, I'm all over that. I don't ever want to get off that subject. Does
Speaker:anyone else want to add to that? Sure, I'll add to it. I was
Speaker:just really enjoying when you and I had talked on my
Speaker:podcast episode and you were talking about just making it
Speaker:relatable to your kid, because all kids have different interests. I mean, I have three
Speaker:boys. They range in age from nine to 14.
Speaker:So different money stages, but even just the things that they're
Speaker:interested in today. One's more athletic, one's more into
Speaker:piano and music, that kind of stuff. Another is into video
Speaker:games, like just figuring out in the money conversations that you're having,
Speaker:okay, what's really going to resonate with them. I think I posed a question to
Speaker:you about investing because I was like, all right, I have a 13, or, I'm
Speaker:sorry, 14 year old and an eleven year old that are both interested in investing.
Speaker:I'm not going to be having the same conversation with them, though, about investing
Speaker:because they're interested in different things. One of them's really into playing
Speaker:Pokemon with his friends. So talking about diversification from a Pokemon
Speaker:card perspective, and then the other that's more interested in video games, we
Speaker:can chat about. Okay, you don't want to keep playing the same video game over
Speaker:and over, unless you want to become, you know, a master at that. You
Speaker:probably want to play some other video games from time to time. So
Speaker:just teaching that concept of diversification, I thought that was so
Speaker:valuable from our conversation earlier and just really
Speaker:hit home for me. Yeah, like I said, if you want to talk kids and
Speaker:money, I'll talk about it all day long. I wrote, that's why I wrote the
Speaker:book on it. Your kids, their money. So for folks who are interested,
Speaker:like I said, all of these speakers have amazing content. I'm not stopping the conversation
Speaker:here. I just want to give everyone a quick, a quick roundtable
Speaker:again. So we've got money talk with TIff. We've got budgeting.
Speaker:Budgeting period podcasts with Kelly. We've got
Speaker:the worthiness with the mayor Meyer, and we've got
Speaker:steady worth with Gabe Walters. And all of these speakers are just
Speaker:fantastic. So follow them. I'll keep popping up their Instagram handles on the
Speaker:screen when I can. All amazing at what they do. So I just want to
Speaker:make sure I call that out. But we did get into a question on
Speaker:the, in this, the Facebook group. So again,
Speaker:this is the raising generational wealth virtual summit ask me anything session.
Speaker:And in the virtual summit Facebook group, a question came up about
Speaker:overspending. And one of the folks there, you could tell that
Speaker:she, she was feeling it, right? She was feeling the pressure of, like,
Speaker:overspending. And how do I stop overspending? And I'm not calling out names. I just
Speaker:want to kind of address that question. And one of the sessions, I think, that
Speaker:really talked to it was the money mindfulness
Speaker:one by David Delisle. His session was day one, and he kind of
Speaker:talks about it, but I wanted to bring it up in this form as well.
Speaker:Deb, I think you might have something you wanted to add to that. So I'll
Speaker:let you start it off. Yeah, I think for anyone, then when
Speaker:they're thinking about the spending decisions that they're making,
Speaker:it has to be in alignment with your values. And from a values
Speaker:perspective, if you haven't really sat down and thought about what
Speaker:your core values are and if you're married, what your spouse's core values
Speaker:are, trying to come up with those and just understanding, okay,
Speaker:is it family? Is it health? Is it
Speaker:faith? Like, what are the things that drive the majority of
Speaker:your decisions? So finding that values consistency is going to be really
Speaker:important before you really analyze the spending decisions. And
Speaker:then once you have kind of the top two, maybe
Speaker:five core values identified, just asking the
Speaker:question when you're overspending and you see, okay, I budgeted this and
Speaker:I have this as my actual spend. It's significantly
Speaker:different. Say, is this a reflection of the values that I've
Speaker:chosen? Yes or no? And oftentimes you
Speaker:can find, okay, if you are way overspending in a certain
Speaker:category, and you say you value a minimalist
Speaker:lifestyle, but you're overspending on Amazon, well, I don't know.
Speaker:I mean, most of the things Amazon sells are more
Speaker:physical items that add clutter to the house, right? So,
Speaker:no, it's not going to be consistent with your values, what you're
Speaker:overspending on, right. So just having that self awareness
Speaker:around what your core values are and whether the spending decisions you're making
Speaker:are consistent with it, I think can really
Speaker:bring to light where you might need to be making some changes and really
Speaker:modifying that spending going forward. The other big ticket
Speaker:items to think about too, are like mortgage cars. I mean, if
Speaker:you don't really care, you know, some. Some people
Speaker:are very into cars, right? They want to drive a luxury car.
Speaker:That's a big deal for them. But for most people, it's not that big of
Speaker:a deal. They're okay driving a mid level car rather than a luxury car,
Speaker:even if they're earning a nice income. I will say, like,
Speaker:in my personal experience, we haven't ever bought a luxury car, and we've been
Speaker:financially smart with our decisions, but it's just not our thing. Like,
Speaker:my husband drives them, I don't know, six or seven year old Mazda.
Speaker:And I drive a Kia telleride, which is a nice car, but it's not
Speaker:like Audi or Mercedes or whatever.
Speaker:So again, just trying to evaluate, are there bigger ticket
Speaker:items that maybe you could be adjusting because they're not consistent with what
Speaker:you really value? Tiff, what do you think about that?
Speaker:Oh, where do I begin? So I'm
Speaker:definitely going to go the woo woo route, because just what I do.
Speaker:But I want people to understand why they're
Speaker:overspending, too. So in order to change our
Speaker:behavior, we have to understand we are doing
Speaker:it and then why we're doing it. So is the
Speaker:overspending fueled by family? Is it fueled by friends?
Speaker:Is it fueled by what you experienced growing up? Maybe you were in a
Speaker:situation where you didn't have much, so now you feel like you have to buy
Speaker:whatever you want. Is it social media? There's so
Speaker:many different things that play a part and how we spend our money. So I
Speaker:feel like that's important, too, to understand where this
Speaker:is coming from. But also I wanted to add that planning
Speaker:ahead can curb your guilt. So we all have things
Speaker:that we're interested in. For me, I spend a lot on technology.
Speaker:That is my thing, and that's what's important to me. And
Speaker:so I make sure that I plan, aka my
Speaker:budget to make sure that I have it there for me
Speaker:to spend on. So that way, if I see a new technology that I want
Speaker:to try out, I don't have to feel guilty for doing that. So I just
Speaker:wanted to put those two things out there. Thinking about the mindset piece as
Speaker:well. And Kelly, I think you had something you wanted to add to
Speaker:that as well. Yeah. And this is part of the
Speaker:resource that I gave for everyone here a part of this summit.
Speaker:It's a 90 day expense tracker. But as tip was saying, the woo
Speaker:and somebody, I can't remember who, but talked about, you have to put in
Speaker:the woo and the work. And so there's a little bit of both coming together.
Speaker:Right. And so my tracker, the 90 expense tracker, it's free and it
Speaker:talks about, but where is my money currently going? Because I think a lot
Speaker:of us on this call, we hear people say they overspend
Speaker:or they are in denial and they don't necessarily know where all their money
Speaker:goes, but they don't think they overspend or they are a
Speaker:minimalist. So why are they so broke? All these different things that we're hearing,
Speaker:but until you actually have the data behind it, you don't
Speaker:really truly know what's going on. It truly never surprises
Speaker:me when I'm working with clients and they, you know, they fill out this 90
Speaker:day expense tracker. It tells you you have to type in. It's the work part,
Speaker:right. You type in all of the spending that you've had in the last three
Speaker:months, and it. It just tells you how it is. So this is how much
Speaker:you've been spending on restaurants. This is how much you're spending on, you know,
Speaker:coffee splurges or kids clothing and all these things. And
Speaker:it's shocker for everybody that's looking at it. Their own
Speaker:personal spending, where exactly their money is going. And so before you can put
Speaker:into. Into place where you want your money to be going, I think it's
Speaker:really important to come back to the basics of figuring out, okay, but where's my
Speaker:money currently going? And that way, I can alter the path that I'm currently
Speaker:on. So there's so much
Speaker:value in this group. There's so much value in the summit. So I
Speaker:just want to call it out again. So this is the raising generational wealth virtual
Speaker:summit. Ask me anything question. And really would be taking. Taking all kinds
Speaker:of questions here. The summit is meant for parents to help
Speaker:them raise their. Raise their awareness, raise their knowledge, raise their
Speaker:confidence, and hopefully have a chance to pass some of that knowledge on
Speaker:to the next generation. All of the speakers that I was able to
Speaker:get, all of them, every single one of them donated something. So
Speaker:if you register right now, and I'll pop up the QR code again,
Speaker:I'll put the summit on the ticker as well. If you register
Speaker:now, you will be able to get. There's a. There's a swag
Speaker:bag, a free swag bag that has Deb donated her
Speaker:worthiness toolkit. I'll let you talk about that in a moment. Deb, just to tell
Speaker:people what's in it. There is all kinds of stuff, and it's just a swag
Speaker:bag. You just get that for free. Just for. Just for registering. A bunch of
Speaker:free stuff for every one of the speakers. They donated a freebie.
Speaker:So if you go to one of their presentations, right underneath their presentation, you can
Speaker:click and get, you know, you can get their toolkits, you can get
Speaker:their. Their workbooks. There's just so much stuff that they're just
Speaker:giving away that's. That's just for free. That's just for you. That's just for attending.
Speaker:And the reason is we all be one of our speakers, myself included. We just
Speaker:want to help you get to the place you want to be. I know I've
Speaker:been in dark places when it's come to my finances, and my mission is to
Speaker:help other people not ever have to go there. And I know how hard it
Speaker:can be to do that. So I wanted to bring all these speakers together to
Speaker:give them a chance to speak to you. They're live in the
Speaker:Facebook group answering questions. They've got their presentations that are ready for you
Speaker:to watch and consume. And addition to that, there's just all these resources that
Speaker:they've been giving us just to have to help us feel better. So
Speaker:please register for the summit. There's still two and a half days
Speaker:worth of presentations coming out, and there's already yesterday's presentations that
Speaker:are available. There's still more than enough time to get involved. And I hope,
Speaker:I hope, I hope you just take just. This is one of the times where
Speaker:I'm like, you know, most times, I'm all about giving. You'll receive. In this case,
Speaker:just take, take, take, and you will get something. You'll get so much out of
Speaker:it. So, Deb, I mentioned the toolkit. Can you tell us a little bit more
Speaker:about it? Sure. So the toolkit is based on my book,
Speaker:Redefining family Wealth. And just to give a little backstory, I had been working
Speaker:one on one with clients for several years and then realized that there were a
Speaker:lot of commonalities among the clients in terms of kind of
Speaker:digging through this financial planning process, from the basics
Speaker:of budgeting and debt decisions to
Speaker:more advanced concepts around saving for education,
Speaker:not just college education. If you have private school goals as well, trying
Speaker:figure those in, because obviously those come at another price tag.
Speaker:And then retirement planning, understanding
Speaker:the generosity component, if you want to be more generous with money.
Speaker:All of those things I put into a book a couple of years ago called
Speaker:Redefining Family wealth. And then the toolkit is actually the
Speaker:digital version of that book, plus some additional bonuses. So it
Speaker:has a workbook that kind of guides you through more specific questions on
Speaker:each chapter. And then additionally, it's
Speaker:like a nice little guide around more
Speaker:of a manifesto, almost just around some of the principles
Speaker:of living in prosperity, regardless of your exact net
Speaker:worth or number. Right. So anyway, that's a
Speaker:free toolkit, and it's just for attendees of the
Speaker:seminar. I normally charge $19 on my website, and I give you the
Speaker:discount code. It's Jenwealth 24.
Speaker:That's Gen wealth 24. If you're interested in downloading it
Speaker:again, normally $19, but that will get you free
Speaker:during this virtual summit. That's amazing. Thank you so much for that,
Speaker:Deb. And I, like I said, all of the speakers have donated something.
Speaker:Their sessions and just their sessions alone are so valuable.
Speaker:Like, just by attending their sessions. Like I said, Deb or not
Speaker:Deb, Tiff, your session was a master class. Just helping
Speaker:people, like, just crush that money mindset
Speaker:piece. And I love, I love, I love it so much.
Speaker:Gabe, can you just tell folks a little bit more about, like, what you do
Speaker:and how people can find you? Sure. Yes.
Speaker:Well, we help people. We help people build a one page financial plan. And
Speaker:so there's a couple different ways we do that. Currently, we have a, we call
Speaker:it our financially fit group, which, whereas if somebody joins the
Speaker:group, they can build their one. They'll get the access tip to our online course
Speaker:to build your one page financial plan. You can do that in 54 minutes
Speaker:or less. And then from there you can, you have access
Speaker:to me. Certified financial planner for group coaching. Also, my wife is in the group,
Speaker:and she is over. She's a corporate consultant and bringing, or
Speaker:she says, a recovering corporate consultant, and she's bringing her experience to,
Speaker:she works in change management. So kind of focusing on mindset and helping
Speaker:you, you know, shift change to get into financial
Speaker:planning. So you can find us@steadyworth.com. If you google a
Speaker:steady worth is one word because it's one vibe. And so, yeah, we're
Speaker:at steady worth on all platforms, whether it's Instagram,
Speaker:TikTok, YouTube, Facebook,
Speaker:everywhere. Amazing. So before I get you off the
Speaker:screen, just tell people a little bit more about your session. Like I already mentioned,
Speaker:like, TIFF session was a masterclass, and you also do quite a.
Speaker:You do a workshop. You're running a workshop for yours. Tell me about your session.
Speaker:In our session, we literally run you through our one page financial planning
Speaker:course. So if you go through there, we'll walk you. So if you watch our
Speaker:session, it'll walk you through how to build a one page financial plan using
Speaker:our, what we call our take charge financial planning framework. This is a framework that
Speaker:actually designed using what I would consider to be the ten
Speaker:main components that a certified financial planner would walk somebody through to
Speaker:build a very base level, comprehensive financial plan. We also have a
Speaker:free giveaway, which is a session with myself. And so in
Speaker:that being, because if you fill out the financial plan, you might say, hey, what
Speaker:do I do next? And so if you would like to get our free giveaway,
Speaker:you can use the QR code to book a call with me, and I'll actually
Speaker:walk you through what does your financial plan mean? What are some of your strengths
Speaker:and weaknesses and what might be some things to do next. We're also throwing in
Speaker:one month of our free membership to our financially fit club. We charge 129
Speaker:a month for that. But if you would like to, you know, that's also
Speaker:one of our freebies. So if you like to hop into our financially fit club
Speaker:for one month, it's a $129 value for you for attending
Speaker:our session, filling out your financial plan, and booking a call with me. That's
Speaker:amazing. I'm going to give it over to Kelly just to tell her us a
Speaker:little bit more one about your session. And I also want you to tell
Speaker:us a little bit more about what you do and where you do it. Yeah.
Speaker:And so my session really just helps you understand, like, what
Speaker:are all the things that have to go into budgeting and getting back to the
Speaker:basics and personal finance 101 and kind of that laying the
Speaker:groundwork. And so I think, you know, as we talked
Speaker:about during this entire stream, it's really easy to kind
Speaker:of get into our own heads to start something and then quit again to
Speaker:start investing when you don't even know where your money is going. And so it's
Speaker:kind of just reorienting you to make sure that you're.
Speaker:You're kind of following, like, what are the steps that we need to do all
Speaker:this? And then as I'm kind of, as you watch my session and you see
Speaker:me touch on pieces, lean on the experts in the room here. So when I
Speaker:kind of dabble on making sure you're in a positive space
Speaker:mentally, you know, TIfF has been talking about that a lot. And same with the
Speaker:financial plans. Once, you know, okay, I want. I want to sit down with
Speaker:my spouse and I want to build our, you know, our goals
Speaker:and our financial plan, for lack of a better phrase, they're in the rooms that
Speaker:are doing that. And so the budgeting piece is, like I said, the 90 day
Speaker:expense tracker. Where is my money currently going? And then I help you flip
Speaker:that. Now, where do I make it? Or how do I make it so that
Speaker:it starts going where I want it to go? And so I've been spending dollar
Speaker:300 a month on restaurants. I really want to get it down to 250 because
Speaker:I want to use that extra $50 towards something else. And so, yeah, we get
Speaker:really tactical, we get really deep into the budget, and I think it's
Speaker:just really important because that is truly how you can gauge whether or not
Speaker:you're on track for your spending plans. Amazing. Thank you so much
Speaker:for that. And so, listen, I'm just seeing in the Facebook group, some folks are
Speaker:having a hard time finding the actual, actual
Speaker:live. I'm trying to see if I can support them while we chat. But I
Speaker:do want to give Deb, you kind of talked about what you do. Can you
Speaker:just talk a little bit more about where people can find you?
Speaker:Oh, sure. Sorry. That's okay. I was
Speaker:trying to stay quiet. Yeah,
Speaker:I'm available online@worthynest.com. That's
Speaker:worthynest. And that's
Speaker:really the hub. I do have the book redefining family wealth.
Speaker:You can find it there. Also have a free resource for.
Speaker:It's called the family finance starter guide. So it talks about the top
Speaker:ten financial facing parents. So
Speaker:you can find that at the bottom of the homepage. And then,
Speaker:I guess online as well. I'm pretty active on Facebook
Speaker:and on LinkedIn, so not as much on Instagram. I know a lot of
Speaker:people love Instagram here, but just haven't been too active
Speaker:over there yet. That's okay. So I know that.
Speaker:I think it was tiff, you just helped me out in the Facebook group, and
Speaker:I really appreciate that. Quick question for the group.
Speaker:I. One of the things that I know folks have a hard time with is
Speaker:just figuring out, like, how to prioritize. Right? Like, what's the
Speaker:first step when you're feeling uncomfortable with your money? Like, what's
Speaker:the next best thing you can do when you start feeling
Speaker:like, I don't know what I'm supposed to do. I'm feeling overwhelmed.
Speaker:What would any of you say is the next best first step?
Speaker:I'll open that up to all of you. So,
Speaker:of course, I'm going to say, start with why you feel
Speaker:that way. What is making you feel that way?
Speaker:What is it that you're experiencing? So, like, as an accredited financial
Speaker:counselor, I deal with clients one on one. And to give you an example, I
Speaker:have clients that just have financial anxiety. Like, they just don't want to
Speaker:look at their bank accounts. They don't want to look at anything money related, because
Speaker:it just gives them that anxiety. So kind of checking into
Speaker:why you're starting to feel that way, and then
Speaker:you can start making plans around how to
Speaker:deal with that. So, for instance, with this particular client I'm talking
Speaker:about, I know that she has financial anxiety, so we do a lot of stuff
Speaker:together, and now she's getting to a point where she's like, okay, I can do
Speaker:this. I can do this. And just having those
Speaker:positive reinforcements, whether you hire someone, someone or use
Speaker:affirmations or whatever the case may be,
Speaker:just checking into that, I think, is the most important
Speaker:step. Did anyone else want to add to that? Because honestly, it's. I know
Speaker:folks get very overwhelmed when it comes to finances. And
Speaker:one of the things I want people to walk away from after this event is
Speaker:feeling a lot more comfortable, a lot more confident. Like, they know what to do,
Speaker:which is why I asked, and I think all of you saw it when I
Speaker:asked you for your presentations. I was like, the last thing I want is for
Speaker:this just to be theoretical. Right? Like, I want this to be action based. But
Speaker:I know I, you know, so many speakers with 25 plus sessions, it could still
Speaker:be overwhelming. So I'm just trying to help the folks who are, you
Speaker:know, who are in the. In the summit, just, what are they? What.
Speaker:What would you say is, like, another, you know, first step? Like, what can you
Speaker:do to get going? And I see you shaking your head there, Deb. Yeah, I
Speaker:was just going to say at a practical level. And again, this is
Speaker:a push for the all access pass. If you're overwhelmed just by the sheer number
Speaker:of sessions, and you're like, hey, great, that there's a lot to learn. Just
Speaker:understanding that you could, you know, get the all access pass and at least
Speaker:have that extra leg room to,
Speaker:you know, watch the videos at your leisure over time. So
Speaker:understanding that it's not a sprint, it's more of a
Speaker:marathon when it comes to building long term wealth as a
Speaker:family, and even no matter where your starting point is, just understanding that
Speaker:it's not going to be a quick easy process. It's going
Speaker:to take some time and sometimes hard work and dedication
Speaker:to reach your financial goals. So again, great that you're
Speaker:showing up, great that you're taking that first step to really raise awareness
Speaker:of your family's financial situation and then hopefully foster some
Speaker:great habits in your kids. But just being okay with the idea
Speaker:that you don't have to figure this all out today or over
Speaker:the weekend. I appreciate that so much
Speaker:because, like, the one thing, like I said, and I was, I was really worried
Speaker:about it because I know, like, I'm sending in a lot of information and it
Speaker:can become overwhelming, right. There's, there's a lot of sessions, there's a lot of different
Speaker:topics. And the last thing I wanted was for folks to feel overwhelmed. So, gabe,
Speaker:you have something you want to add? You know, one thing that we don't say
Speaker:this in the session that we usually, and we were usually presenting.
Speaker:We usually, this is a question that we usually open with, but due to time,
Speaker:we didn't open our session with this. But, you know, one thing I always say
Speaker:is, you know, we say, it's like, hey, write down three things that are beliefs
Speaker:that you have about money. Because a lot of times, you know, even though we're
Speaker:speaking to parents about educating parents about their children, where
Speaker:did parents get their education from? Is probably from their parents as well, or
Speaker:from, you know, growing up in their own household about their
Speaker:different money. And so a lot of times it's like, you know, we say, you
Speaker:know, write out those beliefs and then understand, like, are these beliefs, you know,
Speaker:where do these beliefs come from? Are these beliefs that I want to carry forward
Speaker:with me? Or sometimes these beliefs are even lies that we've just heard
Speaker:and we have kicking around in our head that we're walking with. And so just
Speaker:make sure that the beliefs that you have about money, about your personal finance, is
Speaker:something that are true to you. They resonate with your values and
Speaker:that they're things that you really want to continue to go forward with.
Speaker:I agree with that. And like I said, and Deb, thank you for mentioning
Speaker:the past, because honestly, the one thing I think might
Speaker:really make people stumble is if they try to consume all this
Speaker:information all at once. Right? Because consuming information is great.
Speaker:It's wonderful to learn all of these different strategies and
Speaker:these different skill sets, but trying to then apply
Speaker:all of it all at once, it is too much.
Speaker:The goal isn't to give you so much that you can't achieve anything.
Speaker:It's to give you what you need right now so that you can start to
Speaker:achieve something. So the all access pass dust definitely gives you
Speaker:that, that freedom and flexibility, which is why I wanted to create it, so that
Speaker:you can go and come back and, you know, you've got all of the. You've
Speaker:got all of the sessions ready for you for when you're ready for them. So
Speaker:that's one of the reasons why I wanted to create that pass, because when I
Speaker:was creating, I was like, this is gold. But it is a lot. It is
Speaker:a lot. It's all great, but you need to be able to consume it in
Speaker:a way that makes the most sense for you. Kelly, I see you shaking your
Speaker:head there, too. Yeah. And there's so much to unpack here. And we kind of
Speaker:talked about it earlier where we are unique, unraveling. We're unpacking
Speaker:a lot of bad habits for some of us,
Speaker:right, that we've been ingrained, whether our parents
Speaker:were doing it or we've just been ignoring things for so long. And so we're
Speaker:not just going to, after this summit, you know, wake up and be like, I'm
Speaker:a new person. I'm going to start budgeting. I got my one pager financial plan
Speaker:all ready to go. My mindset is like, I'm like the richest
Speaker:person in the world, right? Like, that's just not going to happen. And so I
Speaker:think, to be realistic, what are, I always tell
Speaker:people, do a little bit of thinking and what are the things?
Speaker:What are, like one to two things that truly stress you out? So
Speaker:when I was going through all of my debt stuff with my student
Speaker:loans, it was the fact that I just, like, owed so much
Speaker:money to my student loans, which is my biggest killer. It wasn't that I had
Speaker:a car payment. It wasn't that I didn't feel like I made enough money. It
Speaker:was truly the payment for student loans. And so think about it in your own
Speaker:situation, what is it that is truly stressing you out and then start
Speaker:to make these micro changes in your life? Is it just that you feel like
Speaker:you're not investing enough? Is it just that you feel like you're wasting too much
Speaker:money on restaurants? Is it just that your credit cards are maxed out? Whatever.
Speaker:The one or two things that are truly overpowering your
Speaker:mental state and causing you to not get enough sleep at night,
Speaker:start little things to kind of fix those areas first.
Speaker:And then it comes down to actually, how do you
Speaker:do something right? Like, it's. You need to set intentions,
Speaker:you need to set goals. You need to, like you said,
Speaker:make pick something. Don't pick everything, because if you pick everything, we're going to be
Speaker:doing nothing but pick something and then start working towards that. So there
Speaker:was a question in the. In the Facebook summit
Speaker:group. So in the summit Facebook group group, I just put all the words
Speaker:together there. Tiff, do you want to take it? Could you repeat the question
Speaker:and answer it for me? Yeah, sure. So it says,
Speaker:how to defeat a poverty consciousness. And
Speaker:I love this question because it's right up my alley, and it's something that
Speaker:I also struggled with for a very, very long time. So just a little
Speaker:background information about me. I'm a single mom of three
Speaker:kids now, but when I started on this journey, it was to. And
Speaker:I was to the point where I was living not just paycheck to paycheck,
Speaker:but tax refund to tax refund, school refund to school
Speaker:refund. Like it was bad. And what
Speaker:kind of helped me make that shift was, first of
Speaker:all, getting more aware of my situation. So when you
Speaker:are in a poverty consciousness or poverty mindset, you're thinking about
Speaker:the next day, how can I get food on the table right now? How can
Speaker:I do these things right now and not really thinking about the long
Speaker:term? And so I started budgeting. Of course,
Speaker:we've talked about that, but just starting to put it on pen and
Speaker:paper, you know, starting to write it down in black and white, because I tried
Speaker:doing the mental accounting for a while. And with the mental
Speaker:accounting, honestly, you are
Speaker:in a worse position than if you just write it down, if that makes sense.
Speaker:So what I've realized is when I write things down,
Speaker:or if I'm feeling anxious about my money, I go back to the
Speaker:basics, aka the budgeting, because that'll give me that peace of mind. So I
Speaker:started there, but then, of course, if you're barely
Speaker:making ends meet, then you're going to be in a negative. I
Speaker:was prepared to see that. Right. But then what that also allowed me
Speaker:to do was gave me the motivation to start making more money,
Speaker:to start doing more, because I was like, I can't keep living like this.
Speaker:And so seeing in black and white how much I really need to
Speaker:make it propelled me to get a new job, making more, it propelled me to
Speaker:do side hustles, all these different things to make sure that I get back in
Speaker:the black. So those are some things, some tips, I guess,
Speaker:that I can give you. When I was going through that situation. For
Speaker:sure, did anyone else want to address that question? Because it's a great
Speaker:question, and it's a. It's a. It's a. You could tell. It's a meaningful
Speaker:question. So I just wanted to give a everyone a chance if they want to
Speaker:contribute to that. To that one. I have a
Speaker:quick comment to add to it. I think one thing is to remember that
Speaker:this is all temporary. Right. I think when a lot of us
Speaker:coaches, we talk to people and it's, you know, especially tiff,
Speaker:single mom of three, how are you supposed to get that side hustle? How are
Speaker:you supposed to work on the weekends or afford daycare just to make a little
Speaker:bit more money? And I think that we have to remember, remember, this is all
Speaker:just temporary. And so we're not asking you to work 80 hours a week for
Speaker:the rest of your life, but what can you do right now? What can the
Speaker:hustle be that actually still allows you to have some time with your
Speaker:family, but also that, you know, you're a little bit of tough love on yourself,
Speaker:and you realize you need to get some of your ducks in order. And then,
Speaker:as you can just get into the black, as you can just start to have
Speaker:a little bit more money to afford groceries without, you know, having a
Speaker:panic attack, then you can start getting rid of some of those high side hustles
Speaker:and start to loosen up the reins a little
Speaker:bit. I love that. And I think in
Speaker:my interview with Andy Hill, he mentions that as well. Right.
Speaker:There's a side hustle, which we have. I think it's. Colin
Speaker:Graves is going to be talking about it on day three. The side hustle that
Speaker:is to hopefully, maybe transition to your. Out of your nine to five.
Speaker:There's that side hustle, but that's not the only side hustle. There's that
Speaker:temporary, temporary. I need to make a quick change
Speaker:here. And I like how you said it. It's temporary. And this is what I
Speaker:talk about when I. When I was going through my financial struggles,
Speaker:recognizing. And I, you know, this happens in hindsight, and this is why I try
Speaker:to tell people now, recognizing that it's a point in time and that you
Speaker:can work your way out of it and it doesn't have to be the rest
Speaker:of your life. We've got folks here who, like I said, we've got
Speaker:TIff's single mom. We've got Anna Boyd single mom.
Speaker:So we're not all, you know, doing. We're all doing
Speaker:it in our own way. But you have to find the way that makes it
Speaker:work best for you. And maybe that is, you know, a little bit of sacrifice
Speaker:right now to get you to that other side. Or maybe that is, you know,
Speaker:there's. It can go any way. It can go anyway, so I do
Speaker:appreciate the way you said that there, Kelly. Did anyone
Speaker:else want to add to that question? Because I'm, you know, it's
Speaker:a pretty important. Oh, you want to go back? Do it. Tiff, go ahead.
Speaker:Yeah. Just to add really quick, y'all, please tell me when to stop.
Speaker:But with that, I'll also add
Speaker:that even though it's temporary, right. When you
Speaker:are in that mindset, it's hard to think creatively.
Speaker:It's hard to think outside of the next day. And
Speaker:so one thing that I do with my clients, sometimes, if they're
Speaker:in that mindset, like, I've had clients that get on the phone, they just start
Speaker:crying. I'm like, okay, let's just envision that life
Speaker:is perfect. What does that look like for you? And so as they're going
Speaker:through this whole visualization activity, and so
Speaker:one, writing down what they're saying, and those
Speaker:are the goals that they have. And so sometimes you kind of have to be
Speaker:creative in how you approach the situation, too, just to
Speaker:get out of that negative autopilot, is what I call it.
Speaker:So that way, you can think creatively. Like, what else can I do to make
Speaker:this extra money? Because, you know, all of those emotions and stuff
Speaker:is all physiological, too, is psychological and
Speaker:physiological. And so just doing that switch
Speaker:can really unlock some doors. I appreciate that so
Speaker:much. So the only other piece that I wanted to talk about, and we just
Speaker:mentioned, you know, the single parent. The other part of it that makes us really
Speaker:complicated is that we're dealing with money in families, right?
Speaker:So there could be a partner. They're
Speaker:often kids. So one of the things that, you know, and
Speaker:I'm glad we had ed combs, financial therapist, talking on day one about, talking
Speaker:about, talking about money within a partnership, within a couple, within a
Speaker:family. It's the other piece of this is that
Speaker:feeling like you're totally alone in keeping it all to yourself
Speaker:is what makes that feeling so, so much worse. Right? So
Speaker:finding resources, finding people that you could talk to that you can,
Speaker:you know, could be confident, it can be, you know, accountability, partners, whatever
Speaker:it is, finding a way to make a community
Speaker:come around you is what is what can really help you move
Speaker:forward. So I'll just add that last little piece. But we're right at an
Speaker:hour. And I know folks, you know, this is. This was amazing. And I'm so
Speaker:grateful to all of you. But as Tiff, as you said, we're here for a
Speaker:great time, but not for a long time. So I will start wrapping this up
Speaker:right now. I told you, Tiff, I watched your session. It was fantastic. I'm not
Speaker:just making this up. Everyone here was spectacular. Thank
Speaker:you all so much for coming on, for just being
Speaker:open to sharing and contributing. I'm going to do one more roundtable. But
Speaker:I want you to tell people not just where to find you, what you
Speaker:do, how you can help them, whatever you
Speaker:think you do, what everyone here does, something to help someone else,
Speaker:tell us how you help them. All right. And I'll start with you, Kelly.
Speaker:Yeah. So kellyshostrom.com. You can just go there and
Speaker:that'll, like, link you to all the things, right? Newsletter,
Speaker:Instagram. But basically, if you need help with,
Speaker:I'm ready. I know that there's other people that help me with
Speaker:other things, and I'm all for connecting all the dots, but if you're ready to,
Speaker:to get really on a spending plan and try to make your
Speaker:budget work and make sure that it, you know, aligns with the goals of your
Speaker:family on pen and paper, on excel and
Speaker:keyboard, then go ahead, whatever mode, cash and
Speaker:envelope, and go on all day, folks. But go to kellystretching.com dot. There's
Speaker:a course that I have. It's super affordable. It's less than one happy
Speaker:hour, and basically it walks you through. Exactly. Step by step.
Speaker:There's a video for every single step along the way to get you
Speaker:from I have no idea what's even happening in my life. And all the way
Speaker:to I have a spending plan and my spouse is actually on board with it.
Speaker:And so. Kellyshostrom.com elyshowstrom on
Speaker:Instagram and happy to walk along with you guys
Speaker:on this budgeting journey. I love that. So
Speaker:I'm purposely telling my these speakers to
Speaker:be promotional because what they do is so
Speaker:beneficial to all of you. So all of you can join the raising generation wealth
Speaker:virtual summit right now and hear from them for free right now.
Speaker:Jump on right now and get all of this 100% for free.
Speaker:But they all, all of them are amazing, amazing people.
Speaker:And they do amazing things. This is what they do. They help people. So I
Speaker:want them. If you've heard what they've said today and you're like, oh, my gosh,
Speaker:I want to connect with them. This is how you connect with them. This is
Speaker:how you find them. This is how you get yourself to feel better. All right,
Speaker:I'm coming to you now, Tiff. Yeah. So you can
Speaker:find me on talk with t on all social media platforms. Money
Speaker:talk with Tiff is the podcast. Moneytalkwitht.com is the
Speaker:blog. And I specialize in, of course, the money
Speaker:mindset piece. But also I'm very heavy into small business,
Speaker:so you'll find a lot of business content, side hustle content, things of that
Speaker:nature. And I love helping people with that as well. I'm an accredited
Speaker:financial counselor, so of course I help people one on one with
Speaker:all of the good things, whether it's budgeting, setting goals, getting that
Speaker:mindset right, coming up with tips and strategies for you to
Speaker:get past any blockages that you may have. I also
Speaker:help with that, and I have a course called budget
Speaker:Nirvana, if you're interested, where I go over the money mindset piece.
Speaker:Actually, the session that I did for this
Speaker:summit is actually the first course in budget Nirvana.
Speaker:And so going through the mindset, then going through tracking,
Speaker:budgeting, all those good things is in that course. So I can go on
Speaker:forever. But that's just Cliff notes of what I have going on.
Speaker:We all can go on forever. This is what we love. We're all so passionate
Speaker:about this. This is why we're so excited to come onto the session and come
Speaker:and talk to you. People talk to people during the summit. Gabe, can you tell
Speaker:people again what you do, where you, where they can find you, how you can
Speaker:help them? So, yes, once again, Gabe Walters. You can find us at
Speaker:steady worth. And steady worth is one word, steady worth, but one
Speaker:word. And so, you know, we will help you build a one page financial plan
Speaker:with action steps. Another thing that we also help do is that if you're
Speaker:interested in investing in the stock market and you want to know how to set
Speaker:up a brokerage account, whether it's a regular brokerage account in Iraq, Roth
Speaker:Ira, we walk through how to set those types of accounts up. What are the
Speaker:different custodians that are available to you? How to take a risk assessment
Speaker:questionnaire, if you would like to, you know, to do that, to start investing in
Speaker:those accounts, what are the things that you would buy in there, whether stocks, bonds,
Speaker:ETF's, mutual funds. We explain all of that stuff. And so, you
Speaker:know, some stuff is, you know, some people do like a diY. We look at
Speaker:our courses like a DWI, which is not a do it yourself, but it done
Speaker:with you. So we work on building community and we do every with you. So
Speaker:you kind of, you get that support that you need. And so feel free to
Speaker:email me. Gabe steadyworth.com
Speaker:and looking forward to connecting with you. Thank you for that, Gabe. And Deb,
Speaker:can you just give a quick. Yeah, I'm Deb
Speaker:myerothynest.com. Again, that's the central
Speaker:hub. I do have the Beyond Budgets podcast if you want to listen to that
Speaker:on your favorite podcast app. Also,
Speaker:just from a way I help people. I really am a
Speaker:holistic, fee only financial planner, so I don't make commissions.
Speaker:My only source of compensation is what my clients directly
Speaker:pay me. And I really do
Speaker:love working with families, just helping them build the bridge between where
Speaker:they are now and where they want to be in the future and touching on
Speaker:all facets of the financial planning and investment process.
Speaker:Like Tiffany, I also work with some small business owners. I'm a
Speaker:CPA by background as well, so have a little bit of niche
Speaker:expertise for those that are parents and small business owners. Kind of
Speaker:a cool one stop solution for a lot of those
Speaker:people. And really quickly, I should probably introduce
Speaker:myself since I didn't do that in the beginning. My name is Clifton Corbin. I'm
Speaker:the author of your kids their money. I am the host the raising generational
Speaker:wealth virtual summit. The reason I have
Speaker:created this event was because basically one of the things that I keep hearing when
Speaker:I talk to parents about teaching their kids financial literacy is they felt
Speaker:like they needed more support with their own financial literacy. So that is why
Speaker:the virtual summit is a thing. And I'm so, so excited for this
Speaker:virtual summit. I'm so grateful to all my speakers. I can't thank all of them
Speaker:enough. And there's over 20 speaker, so I really
Speaker:cannot thank them on this moment as much as I would like to. But I'm
Speaker:so grateful for the four of you for jumping on with me answering
Speaker:these questions, just having a conversation with me. I would love to do this again
Speaker:sometime. I had a blast. I don't know if you did, but I know I
Speaker:had a blast. And like all of us, we love money so much, we can
Speaker:talk about it all day long, for days, for days. But we
Speaker:do need to call it. So thank you, Deb, tiff,
Speaker:Gabe kelly, everyone. Go to
Speaker:raisinggenerationalwealth.com. The summit is still going on for another
Speaker:day. You can hear from all these amazing speakers, plus so, so much
Speaker:more. And thank you just so much for joining me, and I will catch you
Speaker:at the summit. All right, take care, everyone. Thank you for
Speaker:listening, joining and being a part of the Money Talk with TIFF podcast this
Speaker:week. You can check TiFf out every Thursday for a new Money talk
Speaker:podcast. But if you just can't wait until next week, you can listen to
Speaker:previous podcast
Speaker:episodes@moneytalkwitht.com or
Speaker:follow TIFF on all social media platforms at
Speaker:moneytalkwitht. Until next time, spend wise.
