Shownotes
When it comes to money, it can be easy to set arbitrary goals.
“I want $20k months,” or “I want a $1M year.”
Those are the common ones we hear from entrepreneurs.
While it can be fun to hit milestones like that, reaching those goals won’t necessarily give you what you want with that money in your life.
And you might be surprised to see that there are different ways to reach your biggest lifestyle goals without even reaching those numbers.
In this episode, we’re breaking down what Sexy Money Goals are, and why we don’t *love* just choosing a revenue or income number that sounds good.
01:43 — What is a Sexy Money Goal (hint: it’s not just a number)
03:10 — Examples of Sexy Money Goals to inspire you to create your own
06:42 — How to protect your goals from fear of judgment or external criticism
09:09 — Choosing a support team that you know will rally behind you and support your goal
11:08 — The best way to ground your goals in a realistic perspective, rather than hopes and dreams
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Transcripts
That's a big deal when it comes to having your sexy money goals is
Speaker:feeling like you can support it.
Speaker:You have a leg to stand on with that.
Speaker:And that comes with having a bigger understanding of what it
Speaker:will take to achieve that goal.
Speaker:And I think that's why we're here.
Speaker:Welcome to the Know Your Worth Show, where we teach you how to think about
Speaker:your money differently so that you can achieve your sexy money goals.
Speaker:I'm Sydnee your money Maven and owner of Know Your Worth.
Speaker:And I'm Kristen Sid's Dimepiece bestie team member and busy mama
Speaker:twins here to make sure that those of us without a financial degree can
Speaker:still level up with each episode.
Speaker:Let's get started on reaching your next goal.
Speaker:Hello.
Speaker:Hi.
Speaker:Welcome to the Know Your Worth podcast episode two.
Speaker:We did it.
Speaker:We did it.
Speaker:We're launching.
Speaker:We can wrap it up.
Speaker:That's great.
Speaker:So, on today's episode, we are going to talk about sexy money goals.
Speaker:What is the sexy money called exactly?
Speaker:We're going to talk about what they are.
Speaker:What yours are, how you can determine them, what some of ours are.
Speaker:And again, sort of the premise of this podcast is to encourage you
Speaker:to establish and reach your goals.
Speaker:Specifically financially, but almost any goal that you have
Speaker:has a financial component to it.
Speaker:Whether it's a fitness goal, a spiritual goal a personal goal, a lot of it can
Speaker:have a financial side to it because, It can give you more freedom, it can
Speaker:give you more freedom to do those.
Speaker:It can, provide the trips to go on for your spiritual journeys.
Speaker:It can provide the tools and the resources for your fitness journey.
Speaker:And again, if it is truly money goals then it's also money goals, but a lot
Speaker:of the times your money goals and your goals in life are very intertwined.
Speaker:So we are here to talk about sexy money goals and what they are.
Speaker:I am ready.
Speaker:Yeah.
Speaker:Cool.
Speaker:I want to hear yours first.
Speaker:Okay.
Speaker:So a sexy money goal, like we say in our intro, like we say in our
Speaker:trailer, like we say all the time.
Speaker:If you've listened to some of the beginning tidbits of this podcast,
Speaker:so far a sexy money goal doesn't have to be a dollar amount.
Speaker:It doesn't have to be.
Speaker:I want to make a million dollars.
Speaker:I want to make a salary of a hundred thousand dollars, or I
Speaker:want to have this dollar amount.
Speaker:It can be I want to buy a home.
Speaker:I want to retire my parents.
Speaker:I want to help my partner with this medical bill or with this feat.
Speaker:The sexy money goal can be anything.
Speaker:It is truly yours, and , it's sexy because it lights you up.
Speaker:It makes you feel really excited about the potential.
Speaker:It makes you think of a new kind of reality that if when you achieve this
Speaker:goal, you will just feel so empowered.
Speaker:You will feel so special.
Speaker:You will feel.
Speaker:Relieved.
Speaker:Fantastic.
Speaker:Just all of those really positive adjectives that you can use
Speaker:to describe how you will feel when you achieve this goal.
Speaker:That's the sexy money goal.
Speaker:And again, it's not necessarily I want to get promoted this year.
Speaker:I want to just have this dollar amount in my bank account.
Speaker:But if that's what your sexy money goal is, then that's fantastic,
Speaker:and we are here to help you get there in any way that we can.
Speaker:Love that.
Speaker:Yeah, that's kind of the premise of the sexy money goal and what we're
Speaker:talking about, where we're coming from.
Speaker:Some examples of my sexy money goals in the past have been to buy a house
Speaker:and my real true goal was to buy a house before I had an apartment.
Speaker:So I wanted to be able to move out of my parents' house when I was 24.
Speaker:After college, I was home for two years and I wanted to move
Speaker:straight into a house, and that was a pretty audacious goal.
Speaker:It was really out there that goal is not for everybody.
Speaker:But that was a goal that I had was to be able to do that if I found the right house
Speaker:and I was in the right environment, that I would have the funds necessary to do that.
Speaker:So that was one of mine.
Speaker:Another one was quit my job, quit my corporate job and work
Speaker:for myself has always been a goal of mine for my whole life.
Speaker:Get my husband to be able to quit his corporate job.
Speaker:And we can work together, we can travel together, we can go places, but we
Speaker:have the freedom to be able to do that.
Speaker:And eventually one of my big money goals is to, buy our forever
Speaker:home, but also that forever home.
Speaker:I would love for my parents to be able to live with us
Speaker:eventually in that forever home.
Speaker:Mm-hmm.
Speaker:Like That's a big end all be all goal for me is to be able
Speaker:to provide for my parents.
Speaker:And then, I also have the classic sexy money goals of I
Speaker:want a Mercedes-Benz G wagon.
Speaker:I really want one of those.
Speaker:I did just get a new car this week, which is really nice and I love my new car.
Speaker:I don't want to talk down about it, but there's always the classic ones too, and
Speaker:there's nothing wrong with any of those.
Speaker:But I have a lot of big, sexy money goals right now too.
Speaker:But those are some of mine that I've had that I've been able to achieve.
Speaker:And some of the big ones that I have kind of, in the back of my mind now.
Speaker:Love that.
Speaker:And as you were talking, I was thinking, I don't know that our listeners
Speaker:know this, but we do have an age gap between us, and I was thinking about
Speaker:how sexy money goals change over time.
Speaker:Mm-hmm.
Speaker:And in the different seasons of life that you're in.
Speaker:So Syd, you are 29?
Speaker:Yes.
Speaker:I'm 29.
Speaker:I might've said 28 before, but I'm 29.
Speaker:I'm 42 and so I feel like we are in different seasons of life right now.
Speaker:When I was 29, I also had the goal of I don't want to live in an apartment.
Speaker:Right out of moving out of my parents' house, I did move in with
Speaker:a friend for a year and paid rent to her in her house that she owned.
Speaker:And then I bought my own house in Altoona.
Speaker:Nice.
Speaker:And that was a big deal for me.
Speaker:Paying off my student loans, just to be free of that was a big deal for me.
Speaker:Yeah.
Speaker:And then I got married and when you like, join in another
Speaker:double income household Yep.
Speaker:That's a whole different ballgame with money, which I'm
Speaker:sure we're going to talk about.
Speaker:And my goal at that time was to, provide half of the household Bills and things
Speaker:like that, but also to build a savings and things like that with my husband.
Speaker:And then we were completely derailed whenever we weren't able to have a baby
Speaker:traditionally, and we had to do I V F.
Speaker:And that is like buying a really expensive lottery ticket and not
Speaker:knowing how it's going to end.
Speaker:And so that changed the entire trajectory of our financial future
Speaker:that we're still dealing with.
Speaker:And our twins from I V F are five now.
Speaker:And so some of your money decisions, last for years?
Speaker:So right now I would say, one of my biggest money goals and this is something
Speaker:else I'll share with our listeners, is that I am the sole income provider
Speaker:for our family right now because my husband is chasing an entrepreneurial
Speaker:dream and I'm supporting that.
Speaker:And so one of my big money goals is right now providing for my kids and seeing
Speaker:them to be able to, take soccer lessons, try swimming, try dance, see what lights
Speaker:them up, and that lights me up as a mom.
Speaker:So my sexy money goals, maybe at this season of my life aren't so
Speaker:much for me, but are through me to watch my kids experience life.
Speaker:Yeah.
Speaker:So I think it's really cool to be flexible in your mind and think about
Speaker:how these will change over time.
Speaker:Yeah, absolutely.
Speaker:Absolutely.
Speaker:And.
Speaker:Someone else's sexy money goal isn't better or worse than yours either.
Speaker:That's one of the big things with goal setting and mentality that we're
Speaker:going to get into really in depth in one of our episodes coming up.
Speaker:But being able to stay true to your goal is going to be the foundation
Speaker:of all of this being, confident in determining your goal and being
Speaker:excited about it, and not letting the opinions of other people derail you.
Speaker:Or downplay.
Speaker:Your goal is huge to accomplishing that.
Speaker:And most people know that, but it's the same thing when we're
Speaker:talking about money goals.
Speaker:No matter how small or grand they are everybody's goals are relevant.
Speaker:Can we talk about that for a second?
Speaker:Yeah.
Speaker:Yeah.
Speaker:Isn't it funny how the people that do try to derail your goals are
Speaker:the people that are closest to you.
Speaker:Yes.
Speaker:Yes.
Speaker:That is something that hit me hard, but not until later in life.
Speaker:I didn't put my finger on that, and then I was like, wait, all the
Speaker:people that are raining on my parade are the ones that love me the most?
Speaker:Mm-hmm.
Speaker:What is that?
Speaker:Yep.
Speaker:It's their own insecurities, it's their own safety typically.
Speaker:There's definitely the people that think that they're looking out for you and
Speaker:they want you to take the safest route or they want you to take a bigger risk.
Speaker:And so they're looking out for their own insecurities in my
Speaker:opinion, that's what I think.
Speaker:But I also think it's funny too, that the opinions that we can create in our
Speaker:head about what other people are going to say can derail us just as fast too.
Speaker:Before they even say Exactly.
Speaker:And they might not even say, maybe those people said one thing last
Speaker:year that you were like, oh crap.
Speaker:If I do this now, they're going to judge me for it.
Speaker:They're going to say this, I know they're going to say this.
Speaker:They're going to do this.
Speaker:Oh, and then this person's going to say this, and this person's going to say
Speaker:this, and we'll talk ourself out of it.
Speaker:Before even giving those people the benefit of the doubt sometimes,
Speaker:and maybe they absolutely will.
Speaker:Yeah.
Speaker:Maybe they absolutely, you know those people more than we do, but being
Speaker:confident in your goals and knowing who you can say these goals to.
Speaker:Yeah.
Speaker:And at what time, it's having a little bit more of a self-monitoring
Speaker:when it comes to that too.
Speaker:I know.
Speaker:I.
Speaker:Have a hard time keeping secrets when it comes to stuff that I'm doing.
Speaker:Mm-hmm.
Speaker:I I can keep other people's secrets, but I can't keep my own secrets.
Speaker:I'm an open book.
Speaker:I'll tell anyone anything, I'll share anything.
Speaker:I definitely am an oversharer, so when something new and exciting happens, the
Speaker:first people I want to tell are the people right around me, and I have learned that
Speaker:there is a way to deliver news where I will get the reaction that I want.
Speaker:Or that, I can either preface it a certain way, I can pick a certain time.
Speaker:Or I cannot tell those people until after I've already done it.
Speaker:Yeah.
Speaker:And I can make it kind of seem like it's something that they're included
Speaker:in the decision, but they also at the same time know they're not.
Speaker:Yeah.
Speaker:So then they kind of don't have a choice but to support you.
Speaker:And they typically do, at least the people I'm talking about.
Speaker:I think that's a good first step.
Speaker:Once you determine your sexy money goal.
Speaker:Figure out who is your circle.
Speaker:Who's going to be your support group in it?
Speaker:And they don't need to be the classic, your parents, your best friend, your
Speaker:husband, they can be your bookkeeper.
Speaker:Yeah.
Speaker:Your bookkeeper.
Speaker:Absolutely.
Speaker:Yeah.
Speaker:Absolutely.
Speaker:Your bookkeeper.
Speaker:Your neighbor.
Speaker:Someone else that has already achieved that goal.
Speaker:Your mentor, your brother, your sister.
Speaker:It can be anyone, but make sure you think that part through
Speaker:and don't set yourself up.
Speaker:Right away if you know that you can help that.
Speaker:Yeah.
Speaker:because that's a big deal.
Speaker:I think it's about having boundaries too.
Speaker:I will accept this kind of support.
Speaker:I will block out this kind of negativity.
Speaker:Yeah.
Speaker:Just knowing your people and what you're going to get from each
Speaker:person and being ready for it.
Speaker:Yeah.
Speaker:It's like being on the defense You know that no matter what they say,
Speaker:you're going to pursue it anyways.
Speaker:Yep.
Speaker:And that, like a small example of this I shared in our first episode that my dad
Speaker:is an accountant, so he's a money guy.
Speaker:Ironically, I did not get any of that or retain anything that he ever
Speaker:taught me, but he grew up in and.
Speaker:Learned in safety.
Speaker:Mm-hmm.
Speaker:Everything is safe.
Speaker:Corporate world is safe, this is safe.
Speaker:This is what you do with your money.
Speaker:So When I got into the educational system that's very safe, you go to school, you
Speaker:get your pension, you get your check, you level up by steps that are laid
Speaker:out for you from the beginning of time and you know what you're going to make.
Speaker:And so when I left my 14 year career in education, A part of
Speaker:my dad's soul died like when I called and told him on the phone.
Speaker:Yeah.
Speaker:And when I had to make that phone call and I very much care even
Speaker:at 42 what my dad thinks of me.
Speaker:Mm-hmm.
Speaker:I had to be ready to not be swayed.
Speaker:And it was the hardest thing I ever did because I am a people pleaser.
Speaker:What?
Speaker:You don't want me to quit my job?
Speaker:Alright, dad, you're right.
Speaker:I won't quit my job, but I did anyways.
Speaker:And so you have to realize too that like you are the person who lays
Speaker:your head on your pillow at night.
Speaker:My dad doesn't have to live with my decisions.
Speaker:He hasn't paid for anything for me in my life.
Speaker:Not because he couldn't, because that's not, I don't want that.
Speaker:So it didn't matter what he said, it's my life to live.
Speaker:Yeah.
Speaker:So you have to steal yourself against what other people might say.
Speaker:Yeah.
Speaker:Oh, absolutely.
Speaker:Absolutely.
Speaker:And one of the best ways to do that is if you can support your decision with.
Speaker:Facts and figures.
Speaker:And budgets.
Speaker:And you might not have all of that.
Speaker:Not just dreams and wishes.
Speaker:Yeah.
Speaker:But, But you can, dreams and wishes can get you far determination.
Speaker:because dreams and wishes.
Speaker:They can turn into determination and, hard work and grit and absolutely
Speaker:dreams of wishes can take you very far.
Speaker:But if you want to be prepared in a conversation and you want to be
Speaker:able to have something to support yourself in those conversations that
Speaker:you can rely on, but also to back you up whenever you get worried.
Speaker:Yeah.
Speaker:Budgets are huge.
Speaker:Projections are huge.
Speaker:And when I say budgets and projections, they can be as simple
Speaker:as okay, I want to quit my job.
Speaker:This is what salary I need to support my life.
Speaker:This is what money literally needs to come into my bank account to
Speaker:net out positively with everything that's coming out of my bank account.
Speaker:Okay.
Speaker:I know that number.
Speaker:Mm-hmm.
Speaker:You know, it It can be as simple as that.
Speaker:Start from there.
Speaker:How much money's coming out of your bank account, how much money needs to
Speaker:go into it in order to net positive.
Speaker:That's a simple starting point.
Speaker:There's a lot more factors that go into it, but at that level, you know
Speaker:what's coming out, what's coming in.
Speaker:Start from there.
Speaker:Okay, let's just put a, round number of $50,000 is what you need to be making.
Speaker:So if you need to make $50,000 and you want to pursue starting your own
Speaker:business, are you selling a product?
Speaker:Are you selling a service?
Speaker:Okay, you're selling a product.
Speaker:Well, how much of that product do you need to sell in a year to make $50,000?
Speaker:If you need to price it out, look at industry averages if you need to hey,
Speaker:this person is selling the same product I'm going to sell, mine's going to be
Speaker:a little bit better, so it's going to be a little bit higher, dollar amount.
Speaker:So what does that look like?
Speaker:Also, how much do you think it costs?
Speaker:It's very simple to just get basic projections to think,
Speaker:this is the salary I need.
Speaker:To supplement my income.
Speaker:Again, we're speaking on very simplified terms right now, but it really helps
Speaker:to support that dream when you have spreadsheets or facts and facts.
Speaker:Behind it, and that's why we're both here.
Speaker:Yeah.
Speaker:because you're spreadsheets and facts and I'm dreams and wishes.
Speaker:Yes.
Speaker:Well, and I feel like I'm super dreams and wishes too.
Speaker:You're also dreams.
Speaker:Dreams and wishes.
Speaker:But my dreams and wishes.
Speaker:The whole package.
Speaker:I think it's because I want to convince every single person around me to be a
Speaker:part of all of my dreams and wishes.
Speaker:I want to convince all the numbers and facts, people with numbers and facts.
Speaker:Yes.
Speaker:And I think I like to be right a lot.
Speaker:So, I like that if I have a dream or wish I can prove it really quickly, yes, hey,
Speaker:this will work and this is why it'll work.
Speaker:This is why.
Speaker:So I get a lot of satisfaction and joy out of that.
Speaker:So it really benefits me as a bookkeeper, a financial analyst and financial
Speaker:consultant that I have that kind of drive to, to present it that way.
Speaker:But Being able to do that yourself, being able to show your parents,
Speaker:being able to show your husband, your wife, your partner at all.
Speaker:Your kids validate it in a way where, You can stand by it and not validate
Speaker:it in a way of like feeling icky, but validate it in a way of feeling empowered.
Speaker:Like, Yes, oh, that was good's.
Speaker:Yeah.
Speaker:Like not to say like in your face, but to be like, Hey, I got this.
Speaker:You know, I got this.
Speaker:That's a big deal when it comes to having your sexy money goals is
Speaker:feeling like you can support it.
Speaker:You have a leg to stand on with that.
Speaker:And that comes with having a bigger understanding of what it
Speaker:will take to achieve that goal.
Speaker:And I think that's why we're here.
Speaker:Yeah, exactly.
Speaker:To identify the sexy money goal, to understand that they change over time
Speaker:and with seasons to identify a plan and be able to armor yourself against what
Speaker:other people in your life might say.
Speaker:We're here to link arms with you.
Speaker:Yep.
Speaker:Help you identify it, help you make a plan, help you understand
Speaker:the bigger concepts that I don't understand, but she does.
Speaker:And I'm going to put in terms.
Speaker:I'm going to ask all the questions that you can't ask because you're not here.
Speaker:Yeah, absolutely.
Speaker:I love it.
Speaker:Absolutely love it.
Speaker:So we're going to get into breaking down our particular sexy money goals
Speaker:and what went into them, what some of our background was what maybe some of
Speaker:the projections we did and some of the feedback we got from the people around us.
Speaker:So we're going to definitely get into that a little bit more
Speaker:in depth coming up here soon.
Speaker:But those are your sexy money goals.
Speaker:We want to hear about them.
Speaker:If you want to, send us an email info at know your worth pgh.com and send
Speaker:us what your sexy money goals are.
Speaker:Comment on our Instagram pages.
Speaker:Leave comments on the podcast here too.
Speaker:Let us know what your sexy money goals are and if you need help.
Speaker:Be feeling validated in them.
Speaker:We feel you, feel supported.
Speaker:We're here for you.
Speaker:Yeah, absolutely.
Speaker:Judgment free zone on the sexy money goals.
Speaker:Yeah.
Speaker:Whatever you want.
Speaker:Get clear about them, write them down, let us know what they are and
Speaker:we're going to help you achieve them.
Speaker:Yeah, let's go.
