1 00:00:00,000 --> 00:00:02,640 All right, so you're ready to ditch that nine to five 2 00:00:02,640 --> 00:00:05,560 and chase that dream project you've always wanted to do. 3 00:00:05,560 --> 00:00:06,600 That's incredible. 4 00:00:06,600 --> 00:00:09,600 It takes a lot of courage to make a leap like that. 5 00:00:09,600 --> 00:00:12,800 But we know you're not just looking to scrape by, right? 6 00:00:12,800 --> 00:00:15,480 You wanna thrive while doing what you love. 7 00:00:15,480 --> 00:00:17,880 And luckily for you, we found this podcast episode 8 00:00:17,880 --> 00:00:19,640 called The Unmatched Blueprint 9 00:00:19,640 --> 00:00:21,480 for Building Financial Security 10 00:00:21,480 --> 00:00:23,960 Before Leaving a Steady Job. 11 00:00:23,960 --> 00:00:25,720 So let's dive into that and figure out 12 00:00:25,720 --> 00:00:28,400 how to build a rock solid financial foundation 13 00:00:28,400 --> 00:00:30,400 before you take that leap. 14 00:00:30,400 --> 00:00:32,080 You know, I think a lot of times people just focus 15 00:00:32,080 --> 00:00:34,080 on the excitement of starting something new, 16 00:00:34,080 --> 00:00:35,160 which is great. 17 00:00:35,160 --> 00:00:37,880 But having a solid plan in place beforehand 18 00:00:37,880 --> 00:00:39,160 can really make a world of difference. 19 00:00:39,160 --> 00:00:40,440 It's like having a map encompass 20 00:00:40,440 --> 00:00:43,240 when you're exploring uncharted territory. 21 00:00:43,240 --> 00:00:44,920 Okay, I'm all about having a map. 22 00:00:44,920 --> 00:00:46,880 So where do we even begin with this? 23 00:00:46,880 --> 00:00:48,120 Well, the first stage of our blueprint 24 00:00:48,120 --> 00:00:49,880 is all about facing reality. 25 00:00:49,880 --> 00:00:51,600 We need to take a clear and honest look 26 00:00:51,600 --> 00:00:54,240 at where you stand financially right now. 27 00:00:54,240 --> 00:00:55,520 It might feel a little daunting, 28 00:00:55,520 --> 00:00:57,360 but it's absolutely essential. 29 00:00:57,360 --> 00:00:59,360 Yeah, I can see that. 30 00:00:59,360 --> 00:01:00,760 You know, I think I'm definitely guilty 31 00:01:00,760 --> 00:01:02,800 of maybe avoiding looking too closely 32 00:01:02,800 --> 00:01:04,600 at my finances sometimes. 33 00:01:04,600 --> 00:01:07,120 But if this is about building a foundation, 34 00:01:08,080 --> 00:01:09,200 I guess there's no way around it. 35 00:01:09,200 --> 00:01:10,760 So what's the first step then? 36 00:01:10,760 --> 00:01:12,800 Well, we start by figuring out your net worth. 37 00:01:12,800 --> 00:01:15,480 Basically, it's a snapshot of your financial health. 38 00:01:15,480 --> 00:01:18,440 Imagine your assets, everything you own 39 00:01:18,440 --> 00:01:20,720 are like points you've earned in a game. 40 00:01:20,720 --> 00:01:23,040 And your liabilities, everything you owe 41 00:01:23,040 --> 00:01:25,000 are like points deducted. 42 00:01:25,000 --> 00:01:27,360 Your net worth is basically like your final score. 43 00:01:27,360 --> 00:01:28,280 Okay, that makes sense. 44 00:01:28,280 --> 00:01:30,760 So we're adding up everything from bank accounts 45 00:01:30,760 --> 00:01:33,520 to investments, maybe even that vintage record collection 46 00:01:33,520 --> 00:01:36,120 I have that I'm convinced will be worth a fortune one day. 47 00:01:36,120 --> 00:01:36,960 Exactly. 48 00:01:36,960 --> 00:01:37,800 And then on the other side, 49 00:01:37,800 --> 00:01:40,320 we're looking at any debts you might have. 50 00:01:40,320 --> 00:01:42,600 Like student loans, credit card balances, 51 00:01:42,600 --> 00:01:44,240 or even that car payment. 52 00:01:44,240 --> 00:01:47,000 Getting this clear picture will help us figure out 53 00:01:47,000 --> 00:01:48,040 what we need to build on. 54 00:01:48,040 --> 00:01:49,680 Okay, so we have our score. 55 00:01:49,680 --> 00:01:50,760 What do we do with it? 56 00:01:50,760 --> 00:01:52,400 Next, we wanna track your cash flow. 57 00:01:52,400 --> 00:01:55,480 Basically, where your money is going each month. 58 00:01:55,480 --> 00:01:57,600 You know, it can be really eye-opening. 59 00:01:57,600 --> 00:01:59,880 You know, I once helped someone track their spending 60 00:01:59,880 --> 00:02:01,360 and they were shocked to discover 61 00:02:01,360 --> 00:02:03,920 they were spending over like $80 a month 62 00:02:03,920 --> 00:02:05,600 on just buying coffee. 63 00:02:05,600 --> 00:02:06,520 Oh, wow. 64 00:02:06,520 --> 00:02:08,760 Yeah, I think I need to track my spending 65 00:02:08,760 --> 00:02:09,960 a little more closely. 66 00:02:09,960 --> 00:02:11,840 It's easy to lose track of those little expenses 67 00:02:11,840 --> 00:02:13,120 that can really add up. 68 00:02:13,120 --> 00:02:14,800 It happens to the best of us. 69 00:02:14,800 --> 00:02:17,480 But once you've got a handle on your spending patterns, 70 00:02:17,480 --> 00:02:19,880 we can move on to one of the most crucial steps. 71 00:02:19,880 --> 00:02:20,720 Yeah. 72 00:02:20,720 --> 00:02:21,760 Building your emergency fund. 73 00:02:21,760 --> 00:02:23,080 Right, the rainy day fund. 74 00:02:23,080 --> 00:02:26,040 It's always felt a little like admitting defeat, you know? 75 00:02:26,040 --> 00:02:28,040 Like saving for something bad to happen. 76 00:02:28,040 --> 00:02:29,520 I think it's actually the opposite. 77 00:02:29,520 --> 00:02:30,960 Think of it as a safety net. 78 00:02:30,960 --> 00:02:34,480 A way to embrace risk without being reckless. 79 00:02:34,480 --> 00:02:36,200 When you're venturing into the unknown, 80 00:02:36,200 --> 00:02:37,960 like starting your own business, 81 00:02:37,960 --> 00:02:39,520 having, you know, three to six months 82 00:02:39,520 --> 00:02:41,200 of living expenses tucked away 83 00:02:41,200 --> 00:02:42,680 can make all the difference. 84 00:02:42,680 --> 00:02:43,760 Yeah, that's a good point. 85 00:02:43,760 --> 00:02:46,080 It's not about like expecting the worst. 86 00:02:46,080 --> 00:02:47,240 It's about being prepared 87 00:02:47,240 --> 00:02:49,400 so you can confidently pursue your dreams. 88 00:02:49,400 --> 00:02:51,160 It's like that saying, hope for the best, 89 00:02:51,160 --> 00:02:52,520 prepare for the worst. 90 00:02:52,520 --> 00:02:53,360 Exactly. 91 00:02:53,360 --> 00:02:56,080 An emergency fund can actually reduce anxiety 92 00:02:56,080 --> 00:02:57,360 and boot your creativity 93 00:02:57,360 --> 00:02:59,400 because you know you have a cushion to fall back on. 94 00:02:59,400 --> 00:03:01,480 It's a powerful tool for peace of mind. 95 00:03:01,480 --> 00:03:03,120 It sounds like having that safety net 96 00:03:03,120 --> 00:03:04,600 can actually make you bolder 97 00:03:04,600 --> 00:03:06,320 and more willing to try new things. 98 00:03:06,320 --> 00:03:07,280 Absolutely. 99 00:03:07,280 --> 00:03:09,720 Knowing you can weather unexpected storms 100 00:03:09,720 --> 00:03:12,840 frees you up to focus on the exciting stuff. 101 00:03:12,840 --> 00:03:14,960 Like building the next stage of your blueprint. 102 00:03:14,960 --> 00:03:17,240 And that's where things start to get really interesting. 103 00:03:17,240 --> 00:03:19,280 Okay, so we face those financial facts 104 00:03:19,280 --> 00:03:21,440 and started building our safety net. 105 00:03:21,440 --> 00:03:23,480 What's the next stage in our blueprint 106 00:03:23,480 --> 00:03:25,000 for leaving our job? 107 00:03:25,000 --> 00:03:26,560 So now we shift gears a little bit 108 00:03:26,560 --> 00:03:28,920 from the practical to the inspiring. 109 00:03:28,920 --> 00:03:31,680 Setting goals that go beyond just dollars and cents. 110 00:03:31,680 --> 00:03:33,280 Ooh, this sounds more my speed. 111 00:03:33,280 --> 00:03:34,680 So we're talking about more than just like 112 00:03:34,680 --> 00:03:36,840 hitting a certain number in our savings account. 113 00:03:36,840 --> 00:03:37,760 Right. 114 00:03:37,760 --> 00:03:38,760 Think of it this way. 115 00:03:38,760 --> 00:03:40,640 Money is just a tool. 116 00:03:40,640 --> 00:03:42,200 It's what you can do with it. 117 00:03:42,200 --> 00:03:43,560 Yeah. It truly matters. 118 00:03:43,560 --> 00:03:46,280 This stage is all about figuring out 119 00:03:46,280 --> 00:03:48,040 how this financial freedom 120 00:03:48,040 --> 00:03:50,000 is gonna support the life that you want to build. 121 00:03:50,000 --> 00:03:50,840 Okay, I like that. 122 00:03:50,840 --> 00:03:52,920 But how do we turn that vague idea 123 00:03:52,920 --> 00:03:55,960 of like living the dream into concrete goals? 124 00:03:55,960 --> 00:03:57,840 Well, it's all about connecting with your why. 125 00:03:57,840 --> 00:03:59,640 Why are you leaving your job? 126 00:03:59,640 --> 00:04:01,760 What do you hope to achieve? 127 00:04:01,760 --> 00:04:03,840 You know, if money were no object, 128 00:04:03,840 --> 00:04:05,760 what would your ideal day look like? 129 00:04:05,760 --> 00:04:06,600 That's a great question. 130 00:04:06,600 --> 00:04:08,680 I've always fantasized about having the flexibility 131 00:04:08,680 --> 00:04:11,360 to travel, maybe take a pottery class 132 00:04:11,360 --> 00:04:13,960 or just spend more time with family 133 00:04:13,960 --> 00:04:16,160 without feeling tethered to a schedule. 134 00:04:16,160 --> 00:04:17,140 There you go. 135 00:04:17,140 --> 00:04:18,880 Those are great starting points. 136 00:04:18,880 --> 00:04:21,240 Now think about how those desires translate 137 00:04:21,240 --> 00:04:22,880 into financial goals. 138 00:04:22,880 --> 00:04:24,320 Maybe it's having enough savings 139 00:04:24,320 --> 00:04:26,240 to cover a few months of travel 140 00:04:26,240 --> 00:04:28,080 or the ability to take a pay cut 141 00:04:28,080 --> 00:04:29,720 without stressing about bills. 142 00:04:29,720 --> 00:04:30,960 Yeah, I see what you mean. 143 00:04:30,960 --> 00:04:32,680 It's about aligning our finances 144 00:04:32,680 --> 00:04:35,240 with the experiences and lifestyle we're after. 145 00:04:35,240 --> 00:04:37,160 It definitely feels a lot more motivating 146 00:04:37,160 --> 00:04:39,160 than just like saving for saving sick. 147 00:04:39,160 --> 00:04:40,000 Exactly. 148 00:04:40,000 --> 00:04:42,060 And remember, this is your unique vision. 149 00:04:42,060 --> 00:04:43,920 There's no right or wrong answer here. 150 00:04:43,920 --> 00:04:45,120 It's about designing a life 151 00:04:45,120 --> 00:04:46,880 that brings you joy and fulfillment. 152 00:04:46,880 --> 00:04:48,600 Okay, I'm getting fired up about this, 153 00:04:48,600 --> 00:04:50,600 but let's be real. 154 00:04:50,600 --> 00:04:52,160 Even with a clear vision, 155 00:04:52,160 --> 00:04:54,880 ditching a steady paycheck can be scary. 156 00:04:54,880 --> 00:04:56,040 Is there anything we can do 157 00:04:56,040 --> 00:04:57,760 to ease that financial anxiety? 158 00:04:57,760 --> 00:04:58,600 Absolutely. 159 00:04:58,600 --> 00:05:00,960 That's where stage three of our blueprint comes in. 160 00:05:00,960 --> 00:05:03,120 Diversifying your income streams. 161 00:05:03,120 --> 00:05:05,420 Think of it like building multiple bridges 162 00:05:05,420 --> 00:05:07,280 to support you during this transition. 163 00:05:07,280 --> 00:05:08,560 Oh, that's a great analogy. 164 00:05:08,560 --> 00:05:10,400 So I've heard a lot about side hustles, 165 00:05:10,400 --> 00:05:12,600 but honestly, it just sounds like more work. 166 00:05:12,600 --> 00:05:15,280 I hear you, but it doesn't have to be a grind. 167 00:05:15,280 --> 00:05:17,960 The key is to choose something you actually enjoy. 168 00:05:17,960 --> 00:05:19,520 Maybe even something that's related 169 00:05:19,520 --> 00:05:21,240 to your dream project. 170 00:05:21,240 --> 00:05:24,680 Could be freelancing, selling handmade crafts online, 171 00:05:24,680 --> 00:05:27,400 or even teaching a skill that you're passionate about. 172 00:05:27,400 --> 00:05:28,960 So it's not about becoming a workaholic. 173 00:05:28,960 --> 00:05:31,320 It's more about creating a safety net 174 00:05:31,320 --> 00:05:33,200 while exploring new possibilities. 175 00:05:33,200 --> 00:05:34,160 Precisely. 176 00:05:34,160 --> 00:05:37,040 And here's a pro tip from the podcast episode. 177 00:05:37,040 --> 00:05:39,920 Start that side hustle before you leave your job. 178 00:05:39,920 --> 00:05:42,160 It gives you a chance to test the waters, 179 00:05:42,160 --> 00:05:43,200 build some momentum, 180 00:05:43,200 --> 00:05:45,080 and maybe even start generating some income. 181 00:05:45,080 --> 00:05:45,920 That's smart. 182 00:05:45,920 --> 00:05:47,440 Yeah, it takes some of the pressure off 183 00:05:47,440 --> 00:05:49,320 and allows for a smoother transition. 184 00:05:49,320 --> 00:05:50,400 And who knows, that side hustle 185 00:05:50,400 --> 00:05:53,000 could even blossom into your main gig down the line. 186 00:05:53,000 --> 00:05:54,480 It happens more often than you think. 187 00:05:54,480 --> 00:05:57,720 Okay, I'm definitely feeling more confident about this. 188 00:05:57,720 --> 00:05:59,680 So we've got our financial foundation, 189 00:05:59,680 --> 00:06:01,380 our inspiring goals, 190 00:06:01,380 --> 00:06:04,240 and now some backup bridges in place. 191 00:06:04,240 --> 00:06:06,920 What's next on the blueprint? 192 00:06:06,920 --> 00:06:09,760 Now it's time to put your money to work for you. 193 00:06:09,760 --> 00:06:11,440 Let's talk about investing. 194 00:06:11,440 --> 00:06:13,160 Investing, I always thought that was something 195 00:06:13,160 --> 00:06:17,000 for people with serious money and fancy advisors. 196 00:06:17,000 --> 00:06:17,840 Not at all. 197 00:06:17,840 --> 00:06:20,640 Investing is for anyone who wants to grow their money 198 00:06:20,640 --> 00:06:23,320 over time no matter how much you have to start with. 199 00:06:23,320 --> 00:06:25,320 Think of it like planting seeds. 200 00:06:25,320 --> 00:06:26,600 The earlier you plant, 201 00:06:26,600 --> 00:06:29,400 the more time those seeds have to grow and flourish. 202 00:06:29,400 --> 00:06:30,840 Okay, I'm intrigued, 203 00:06:30,840 --> 00:06:33,600 but the world of investing feels a little intimidating. 204 00:06:33,600 --> 00:06:35,000 Where do we even begin? 205 00:06:35,000 --> 00:06:36,760 While you're still employed, 206 00:06:36,760 --> 00:06:39,400 make sure you're maxing out those 401k contributions. 207 00:06:39,400 --> 00:06:40,960 Yeah, I'd grab that free money while I can. 208 00:06:40,960 --> 00:06:41,800 Exactly. 209 00:06:41,800 --> 00:06:42,800 Now for other investments, 210 00:06:42,800 --> 00:06:44,600 there are plenty of accessible options. 211 00:06:44,600 --> 00:06:47,600 One simple approach is a high yield savings account. 212 00:06:47,600 --> 00:06:49,160 It's like a regular savings account, 213 00:06:49,160 --> 00:06:50,560 but it pays a higher interest rate 214 00:06:50,560 --> 00:06:52,360 so your money grows a bit faster. 215 00:06:52,360 --> 00:06:53,440 Oh, so it's low risk, 216 00:06:53,440 --> 00:06:55,680 but still helps my money work harder for me. 217 00:06:55,680 --> 00:06:56,960 Yeah, exactly. 218 00:06:56,960 --> 00:06:58,480 Then there are short-term bonds, 219 00:06:58,480 --> 00:07:00,760 which are also relatively low risk, 220 00:07:00,760 --> 00:07:03,040 and offer a fixed return over a set period. 221 00:07:03,040 --> 00:07:03,880 Got it. 222 00:07:03,880 --> 00:07:06,280 So less risk, more stability. 223 00:07:06,280 --> 00:07:09,000 Sounds good for someone about to make a big life change. 224 00:07:09,000 --> 00:07:09,840 Right. 225 00:07:09,840 --> 00:07:11,440 Now if you're feeling a bit more adventurous 226 00:07:11,440 --> 00:07:13,680 and have a longer time horizon, 227 00:07:13,680 --> 00:07:15,800 you could consider index funds. 228 00:07:15,800 --> 00:07:17,160 Index funds, what are those? 229 00:07:17,160 --> 00:07:19,960 Imagine buying a tiny piece of all the companies 230 00:07:19,960 --> 00:07:21,240 in the stock market. 231 00:07:21,240 --> 00:07:23,600 That's basically what an index fund does. 232 00:07:23,600 --> 00:07:26,640 It spreads your investment across a wide range of companies 233 00:07:26,640 --> 00:07:28,160 which reduces your risk 234 00:07:28,160 --> 00:07:29,520 while still giving you exposure 235 00:07:29,520 --> 00:07:31,400 to the growth potential of the market. 236 00:07:31,400 --> 00:07:32,240 Interesting. 237 00:07:32,240 --> 00:07:34,160 So less risky than picking individual stocks, 238 00:07:34,160 --> 00:07:36,000 but still the potential for growth. 239 00:07:36,000 --> 00:07:37,120 Exactly. 240 00:07:37,120 --> 00:07:38,640 And there are even target date funds 241 00:07:38,640 --> 00:07:40,520 which automatically adjust your investments 242 00:07:40,520 --> 00:07:42,040 as you get closer to retirement. 243 00:07:42,040 --> 00:07:44,120 Okay, so lots of options to explore. 244 00:07:44,120 --> 00:07:45,360 This is a lot to take in, 245 00:07:45,360 --> 00:07:48,040 but I'm starting to see how investing can be a powerful tool 246 00:07:48,040 --> 00:07:50,480 for building long-term financial security. 247 00:07:50,480 --> 00:07:51,320 It is. 248 00:07:51,320 --> 00:07:52,920 And the best part is you don't have to be 249 00:07:52,920 --> 00:07:55,080 a financial expert to get started. 250 00:07:55,080 --> 00:07:58,040 There are tons of resources available to help you learn 251 00:07:58,040 --> 00:07:59,640 and make informed decisions. 252 00:07:59,640 --> 00:08:01,080 All right, so we've got our safety net, 253 00:08:01,080 --> 00:08:02,880 our goals, our side hustles, 254 00:08:02,880 --> 00:08:05,640 and now we're planting those investment seeds. 255 00:08:05,640 --> 00:08:07,360 Is there anything else we need to consider 256 00:08:07,360 --> 00:08:09,920 before making our big move? 257 00:08:09,920 --> 00:08:13,040 There are a few often overlooked details 258 00:08:13,040 --> 00:08:14,760 that can trip people up. 259 00:08:14,760 --> 00:08:17,880 For instance, have you thought about what you'll do 260 00:08:17,880 --> 00:08:18,920 about health insurance? 261 00:08:18,920 --> 00:08:21,240 Oh yeah, health insurance, that's a good point. 262 00:08:21,240 --> 00:08:22,760 You know, it's easy to forget about that 263 00:08:22,760 --> 00:08:25,840 when you're caught up in the excitement of going solo. 264 00:08:25,840 --> 00:08:26,680 Yeah, it's one of those things 265 00:08:26,680 --> 00:08:30,960 that we often take for granted until it's gone, you know? 266 00:08:30,960 --> 00:08:32,960 And losing that employer provided coverage 267 00:08:32,960 --> 00:08:34,240 can be a real wake-up call, 268 00:08:34,240 --> 00:08:35,920 both financially and emotionally. 269 00:08:35,920 --> 00:08:36,920 Definitely. 270 00:08:36,920 --> 00:08:38,840 You know, no one wants to think about getting sick, 271 00:08:38,840 --> 00:08:41,640 but it's part of life and medical bills 272 00:08:41,640 --> 00:08:42,680 can be a huge setback, 273 00:08:42,680 --> 00:08:44,160 especially when you're just starting out. 274 00:08:44,160 --> 00:08:46,240 So what's the best way to kind of approach this? 275 00:08:46,240 --> 00:08:48,320 Well, I think research is key, you know? 276 00:08:48,320 --> 00:08:50,720 Start by exploring individual health plans. 277 00:08:51,760 --> 00:08:54,880 Healthcare.gov is a great resource for comparing options 278 00:08:54,880 --> 00:08:57,920 and finding something that fits your budget and your needs. 279 00:08:57,920 --> 00:09:00,840 And don't be afraid to ask for help navigating the system. 280 00:09:00,840 --> 00:09:02,200 There are often resources available 281 00:09:02,200 --> 00:09:04,080 to kind of guide you through the process. 282 00:09:04,080 --> 00:09:05,560 Okay, good to know. 283 00:09:05,560 --> 00:09:07,160 Yeah, it sounds like it could be a bit of a headache, 284 00:09:07,160 --> 00:09:09,280 but definitely worth tackling early on. 285 00:09:09,280 --> 00:09:10,200 Absolutely. 286 00:09:10,200 --> 00:09:13,600 And while we're on the topic of protecting yourself, 287 00:09:13,600 --> 00:09:15,560 the podcast episode also mentioned 288 00:09:15,560 --> 00:09:17,040 life and disability insurance. 289 00:09:17,040 --> 00:09:17,880 To be honest, 290 00:09:17,880 --> 00:09:20,680 those have always felt a bit morbid to think about. 291 00:09:20,680 --> 00:09:21,680 I understand. 292 00:09:21,680 --> 00:09:23,280 But you know, think of it this way. 293 00:09:23,280 --> 00:09:26,000 It's about taking care of yourself and your loved ones. 294 00:09:26,000 --> 00:09:28,560 Life insurance can provide financial security 295 00:09:28,560 --> 00:09:30,120 for your family, you know, 296 00:09:30,120 --> 00:09:31,680 if something were to happen to you. 297 00:09:31,680 --> 00:09:33,960 And disability insurance can help replace 298 00:09:33,960 --> 00:09:35,520 a portion of your income 299 00:09:35,520 --> 00:09:38,080 if you're unable to work due to an illness or injury. 300 00:09:38,080 --> 00:09:39,600 Okay, yeah, that makes sense. 301 00:09:39,600 --> 00:09:41,320 It's like having a plan in place 302 00:09:41,320 --> 00:09:43,800 to navigate those unexpected twists and turns 303 00:09:43,800 --> 00:09:45,160 that life throws our way. 304 00:09:45,160 --> 00:09:47,680 It's all starting to feel a bit less daunting now 305 00:09:47,680 --> 00:09:50,120 that we're like breaking it down step by step. 306 00:09:50,120 --> 00:09:52,520 That's the power of a good blueprint. 307 00:09:52,520 --> 00:09:54,000 But there's one more crucial piece 308 00:09:54,000 --> 00:09:55,720 that we need to add to our foundation. 309 00:09:55,720 --> 00:09:58,240 And this is where a lot of people I think get tripped up. 310 00:09:58,240 --> 00:10:00,000 It's time to talk about budgeting. 311 00:10:00,000 --> 00:10:02,600 Ugh, budgeting, it always sounds so restrictive. 312 00:10:02,600 --> 00:10:04,160 Like I'm giving up all the fun in life. 313 00:10:04,160 --> 00:10:05,680 I know it gets a bad rap, 314 00:10:05,680 --> 00:10:07,920 but it doesn't have to be that way. 315 00:10:07,920 --> 00:10:09,600 Think of it less as deprivation 316 00:10:09,600 --> 00:10:11,840 and more as conscious spending. 317 00:10:11,840 --> 00:10:13,560 You know, making sure your money is aligned 318 00:10:13,560 --> 00:10:15,360 with your goals and values. 319 00:10:15,360 --> 00:10:17,920 Remember that Marie Kondo for your finances analogy 320 00:10:17,920 --> 00:10:19,240 from the podcast episode. 321 00:10:19,240 --> 00:10:21,080 Right, only keep what sparks joy. 322 00:10:21,080 --> 00:10:22,480 So I guess it's about figuring out 323 00:10:22,480 --> 00:10:25,200 what truly matters to me and cutting out the rest. 324 00:10:25,200 --> 00:10:27,880 Exactly, it's not about denying yourself everything. 325 00:10:27,880 --> 00:10:30,880 It's about being intentional with your spending. 326 00:10:30,880 --> 00:10:32,600 Do you really need that daily latte 327 00:10:32,600 --> 00:10:35,960 or would you be just as happy with a less expensive coffee 328 00:10:35,960 --> 00:10:37,360 you know, a few times a week? 329 00:10:37,360 --> 00:10:39,480 Could you swap that expensive gym membership 330 00:10:39,480 --> 00:10:42,000 for online workout videos or outdoor activities? 331 00:10:42,000 --> 00:10:44,440 Yeah, it's about finding creative ways to save 332 00:10:44,440 --> 00:10:47,520 without sacrificing the things that make life enjoyable. 333 00:10:47,520 --> 00:10:48,680 Precisely. Yeah. 334 00:10:48,680 --> 00:10:51,040 And you know what, sometimes making those adjustments 335 00:10:51,040 --> 00:10:53,200 can lead to unexpected benefits. 336 00:10:53,200 --> 00:10:54,760 You might discover new hobbies, 337 00:10:54,760 --> 00:10:56,440 find joy in simpler pleasures, 338 00:10:56,440 --> 00:10:58,120 or even strengthen your relationships 339 00:10:58,120 --> 00:11:00,720 by spending more quality time with loved ones 340 00:11:00,720 --> 00:11:02,920 instead of focusing on material things. 341 00:11:02,920 --> 00:11:03,760 Oh, I love that. 342 00:11:03,760 --> 00:11:05,360 So budgeting is not just about saving money, 343 00:11:05,360 --> 00:11:08,320 it's about creating a more mindful and fulfilling life. 344 00:11:08,320 --> 00:11:09,360 Exactly. 345 00:11:09,360 --> 00:11:10,640 It's about designing a lifestyle 346 00:11:10,640 --> 00:11:13,880 that supports your dreams both financially and emotionally. 347 00:11:13,880 --> 00:11:15,760 Okay, I'm officially convinced. 348 00:11:15,760 --> 00:11:17,440 Budgeting check. 349 00:11:17,440 --> 00:11:18,560 So we've got all the pieces 350 00:11:18,560 --> 00:11:20,520 of our financial foundation in place. 351 00:11:20,520 --> 00:11:22,560 What's the final step in our blueprint? 352 00:11:22,560 --> 00:11:24,440 It's time to set a timeline. 353 00:11:24,440 --> 00:11:27,240 When do you envision yourself leaving your job 354 00:11:27,240 --> 00:11:29,920 and diving headfirst into your dream project? 355 00:11:29,920 --> 00:11:31,960 Ooh, that's the big question. 356 00:11:31,960 --> 00:11:33,480 I'm definitely feeling a lot more confident 357 00:11:33,480 --> 00:11:34,920 now that I have a plan. 358 00:11:34,920 --> 00:11:37,040 But you know, part of me still wants to cling 359 00:11:37,040 --> 00:11:39,360 to the security of a steady paycheck. 360 00:11:39,360 --> 00:11:41,480 That's completely understandable. 361 00:11:41,480 --> 00:11:44,160 But remember, this timeline is just a guide, 362 00:11:44,160 --> 00:11:46,000 not a rigid deadline. 363 00:11:46,000 --> 00:11:48,760 It's about creating a roadmap with milestones 364 00:11:48,760 --> 00:11:51,160 to keep you motivated and on track. 365 00:11:51,160 --> 00:11:52,840 Maybe you aim to launch your side hustle 366 00:11:52,840 --> 00:11:54,320 within the next six months, 367 00:11:54,320 --> 00:11:56,560 hit a certain savings target by the end of the year, 368 00:11:56,560 --> 00:11:59,680 or secure those insurance policies before making the leap. 369 00:11:59,680 --> 00:12:00,920 Right, it's like breaking down 370 00:12:00,920 --> 00:12:02,280 a seemingly impossible goal 371 00:12:02,280 --> 00:12:04,360 into smaller, more manageable steps. 372 00:12:04,360 --> 00:12:05,320 Exactly. 373 00:12:05,320 --> 00:12:07,160 And the best part is you get to celebrate 374 00:12:07,160 --> 00:12:08,800 those wins along the way. 375 00:12:08,800 --> 00:12:11,520 Maybe you hit a financial milestone sooner than expected 376 00:12:11,520 --> 00:12:14,760 or your side hustle takes off faster than you anticipated. 377 00:12:14,760 --> 00:12:18,040 Embrace those successes and let them fuel your momentum. 378 00:12:18,040 --> 00:12:20,400 It sounds like flexibility is key here. 379 00:12:20,400 --> 00:12:23,160 You know, life rarely goes exactly according to plan. 380 00:12:23,160 --> 00:12:25,800 So being able to adapt is essential. 381 00:12:25,800 --> 00:12:26,640 You got it. 382 00:12:26,640 --> 00:12:29,040 And remember, you don't have to do this alone. 383 00:12:29,040 --> 00:12:32,000 There are communities of like-minded entrepreneurs, 384 00:12:32,000 --> 00:12:35,000 online resources, and even financial advisors 385 00:12:35,000 --> 00:12:37,400 who can offer support and guidance along the way. 386 00:12:37,400 --> 00:12:39,000 This has been such an insightful journey. 387 00:12:39,000 --> 00:12:40,800 We went from feeling kind of overwhelmed 388 00:12:40,800 --> 00:12:43,800 to having a clear roadmap for building financial security 389 00:12:43,800 --> 00:12:45,560 before leaving a steady job. 390 00:12:45,560 --> 00:12:48,280 And it's not about denying ourselves or living in fear, 391 00:12:48,280 --> 00:12:50,680 it's about being intentional with our resources 392 00:12:50,680 --> 00:12:52,440 and aligning them with our dreams. 393 00:12:52,440 --> 00:12:53,640 Beautifully said. 394 00:12:53,640 --> 00:12:56,640 And remember, you're capable of achieving this. 395 00:12:56,640 --> 00:12:58,320 With careful planning, a clear vision 396 00:12:58,320 --> 00:13:00,600 and a little bit of courage, that leap of faith 397 00:13:00,600 --> 00:13:03,480 becomes less of a free fall and more of an exhilarating flight 398 00:13:03,480 --> 00:13:05,040 towards a life on your own terms. 399 00:13:05,040 --> 00:13:06,720 I love that analogy. 400 00:13:06,720 --> 00:13:09,400 An exhilarating flight towards a life on my own terms. 401 00:13:09,400 --> 00:13:11,040 That's exactly what I'm after. 402 00:13:11,040 --> 00:13:12,440 Thanks for helping me build my wings. 403 00:13:12,440 --> 00:13:13,080 Anytime. 404 00:13:13,080 --> 00:13:29,120 Don't go out there and soar.