347. If you’re paying a professional then do what they tell you to do

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Navigating the choppy waters of financial transitions can be daunting, especially when unexpected changes catch you off guard. This week, we share our own story of navigating a major shift in our professional and personal finances. After receiving significant news that reshuffled roles within our team—including the appointment of an interim GM alongside our current GM who is transitioning out with severance—we found ourselves reevaluating our financial strategies. Join us as we candidly discuss the emotional and psychological challenges of adjusting to a more constrained budget, sharing insights into how we're simplifying our entrepreneurial ventures and practical steps for managing our finances effectively.

Our journey isn't just about cutting costs; it's about confronting discomfort and adapting to new financial realities while staying true to our frugal roots. Despite our pride in minimal spending and maintaining a stellar credit score, we've received advice urging us to fully utilize our budget, even if it means stepping outside our comfort zone. From sending a long email to our attorney with essential documents to reassessing our modest lifestyle—which includes swapping phones every few years and driving rusty vehicles—we explore how balancing familiar financial principles with new strategies can lead to stability. Tune in to hear our thoughts on embracing the discomfort necessary for financial growth, and perhaps find some inspiration for your own financial journey.

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Episode Transcript

Speaker 1 (00:01):
All right, well, happy Friday everyone.
The team found out yesterdaythe news.
I think I already did that.
Yeah team found out the news.
They all know thefollow-through.
So for the next couple weeksI'm gonna be doing a severance
pay for my wrapping up GM.
He's gonna be working some ofthose weeks, but I'll also be
paying someone to be the interimGM, so payroll will be doubled

(00:23):
up and I'm having to wind downmy other entrepreneurial
endeavors.
I've been doing some mark.
I've been looking to do somemarketing stuff, looking to do
some some buying and selling ofonline things, and I'm having to
just simplify.
And this past month I looked atour personal finances and if
you take out all of theentrepreneurial endeavors and

(00:46):
and things I was looking to do,it actually came out okay, um, I
ended up emailing um, myattorney to figure out like, hey
, here's our home budget, here'swhat we make, here's what we
spend, um, and now he's askingfor stuff like you need a copy
of your id or your mortgagestatement and just all sorts of

(01:07):
documents that will be neededfor wrapping things up.
And so I sent off a long email.
I said, hey, I'm ready toonboard as a client, ready to
get started.
I see we talked a few monthsback and I have that to do list
or checklist for a new client.
So I'll be doing that thisweekend, once we get rocking and

(01:27):
rolling, if we could carve outtime to go over this.
Happy to pay for it if needed.
But here are the top questionsin mind and some advice I've
received is to really make surethat we're at our full budget.
We're penny pinchers.
We don't spend like we take ourkids out to Chick-fil-A once a
week Like that's our splurge.
Like we are not exciting peoplewhen it comes to that.

(01:49):
We haven't taken a vacation inseven years.
I haven't been to the dentistin 15 years.
Like I buy my clothes offGoodwill and eBay.
I swap my phone out every likefour or five years.
I drive rusty vehicles.
The last vehicle I have beforethat my truck was a salvage
sedan like with a classic.

(02:13):
If you saw someone at therestaurant like you probably buy
their meal.
Like we're that family.
And uh, some some personalfriends have counseled us to
make sure we're maximizing ourfull expenses of our budget and
that's uncomfortable.
We are the folks that want tohave an 830 credit score.

(02:34):
We want to have buffer in thebank.
We don't want to have to besqueezed tight, and so if we're
being advised to wind down ourendeavors to reduce our budget,
so that it's favorable and it'snot like the damn Ramsey plan,
like that's uncomfortable for usand so figuring out, okay,
maybe we have to do some thingsthat are outside of our comfort

(02:55):
zone.
That is how you play the game.
So that's where we're at nowgetting uncomfortable.
You follow the advice you payfor.
You follow your own advice, youpay someone else.
You're really dumb.