#9 - Money Scripts and Worthiness
#8 - M-organizing
Here’s your homework, fill in the blanks:
Wealthy people got that way by _________________________
Poor people are poor because __________________________
One should never spend money for ______________________
I could never afford to ___________________
#7 - Managing Your Cash Flows
Hey y’all - get your latest version of Marie Kondo-ing. Everyone’s doing it! You might as well do your finances too. Start with your papers! Then hit insurance, estate planning and cash flows. Know your purpose. It makes it A LOT easier to take care of things that seem hard when you know why you’re doing them.
#6 - Goals vs Systems
What does managing your cash flows actually mean? You have to do ALL of the following:
Have any kind cash reserve to start, Calculate what your monthly average expenses are, Create a budget & honor your budget, Run a lean operation, Understand when you get paid, Know exactly what your operating expenses are, Make sure your cash reserve exceeds your operating expenses, Be mindful of your personality, Track your successes and failures, Manage similarly on the personal side
#5 - Q&A Session
Anyways, today's episode is goals versus systems. I'm super excited to talk to you guys about this because I think it's one of these things where some people say, oh, you should set goals and how other people are like, no, you need habits and systems and you know what? I think you need both. One is not more important than the other, and we will talk a lot today about why that is. So let's just break down what a goal is and what a system is. That way you can understand what I'm talking about and you know, this is a review for some of you either get a good review of goals versus systems or I don't know, fast forward to what you want. So a goal gives you something to strive for, right? And a goal is something that, right, we decide what it is that we want to attain in the future and then we strive for it. That's a goal.
#4 - Gratitude, Wants and Shoulds
Hello there! I'm super excited to have our first Q&A episode, so a few weeks back I had an ask on twitter and on facebook for people to send in their questions and ask us about everything that they wanted to know regarding their finances and we got tons of questions and we're super excited to launch the first Q&A today. So I have my cohost here, Mark Guastaferri, who's going to walk me through all the questions that you guys have. Mark is fantastic. And has been in finance for the last decade, so he probably knows more than me about all this stuff and I'm sure we'll have good insights on everything that you guys want to hear about. So with that Mark take it away.
#3 - Discipline Equals Financial Freedom
Alright, so today is a very Thanksgiving episode. So to give you a little insight into my mind and how I work and why I keep talking about all of these things about using our brains properly to work out our finances, I thought I would tell you a little about Thanksgiving in the Rochard house. And that’s long before Pierre and I were married and we had a son. So before I can remember even, thanksgiving was at my grandparents house. And then it was at my parents house. My parents was like the party house in my family for many many years.
#2 - Your Brain and Your Financial Future
I want to talk today about a concept that is near and dear to my heart. If you listen to Jocko Podcast (Jocko Willink is a personal hero of mine), you’ll hear him repeat over and over: discipline equals freedom. And there is nothing truer. Today’s topic: discipline equals financial freedom.
I don’t know about you, but initially when I heard the word discipline, I thought of teaching someone to obey rules with the stick, rather than the carrot, so to speak. That’s not really what it means. Merriam Webster certainly has that as listed in the definition, but we’re going to use another definition today: “to train or develop by instruction and exercise especially in self-control”. I’ll repeat that for you: “to train or develop by instruction and exercise especially in self-control”.
So, spoiler alert – your financial future will look a lot like your present if you don’t start making some changes. That’s cool if your present is awesome, but it’s probably discouraging to hear if your present isn’t as great as you’d like it to be.
The good news is: your future can be whatever you want it to be (within reason). I’m not saying its going to be raining money all day and you can flip off your boss and spend 6 months in Tahiti. But you can make some basic changes now to ensure that your financial future looks how you want it to look.