June 30, 2026 • 18 mins
Are you all in on your money plan… or are you stuck starting over?
In this episode of the Money and Legacy Podcast, Laura Sexton talks about the hidden cost of being lukewarm with your finances. From budgeting and debt payoff to emergency funds and long-term goals, consistency is what builds confidence and helps you create real financial change.
If you’re tired of making the same money decisions over and over again, this episode will help you recommit to your plan, align your choices with your values, and take your next step toward paying off debt, growing wealth, and building a legacy.
In this episode, you’ll learn:
• Why starting and stopping your money plan keeps you stuck
• How consistency builds confidence with budgeting, debt payoff, and investing
• Why going all in on your financial values helps you reach your goals faster
Ready for clarity with your money? Schedule a clarity call at accelerateyourlegacy.com/claritycall.
Learn more about working with Laura Sexton
. Join the Facebook group Legacy Builders Network.
· Become a master with your money. Learn more here!
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Send an email to Laura@AccelerateYourLegacy.com or send a DM on Instagram @accelerateyourlegacy
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Laura (00:01):
I have never in my life been a jump in the pool kind of
person.
In fact, it, it astounds me alittle bit because my kids are,
my husband is, my best friendsalways jump directly in the
pool.
Even my dad back in the daywould let me push him into the
pool.
He'd sit down and test the waterevery time to see, if it was
(00:24):
good or not, and I'd push himin.
He was always a jump in the poolkind of person.
But me?
No, never.
Not once.
I do not jump in the pool.
I'm a wade in kind of person.
But I'm learning that howeveryou get in, once you're in, you
should be all in You arelistening to the Money and
(00:45):
Legacy Podcast with LauraSexton.
I'm helping families pay offdebt, grow wealth, and build a
legacy without sacrificing whatmatters most.
This is where money feels easy.
Hello, my legacy builders.
Welcome back to the Money Legacypodcast.
I'm so excited to have you heretoday.
It is hot here in MiddleTennessee.
(01:08):
It is hot, H-O-T-T hot.
And sometimes I just want icedcold coffee, and it brings me so
much joy.
And if I don't finish my coffeein the morning, which is rare at
this point because I'm alwaystired, if I don't finish my
coffee, I'll stick it in therefrigerator and let it get
really, really cold, and then inthe afternoon I get iced cold
(01:30):
coffee.
And I realize some people are,"Ionly drink hot coffee.
It doesn't matter how hot it is,I want hot coffee." some people
like their coffee hot and somepeople like it cold.
But you know what nobody likes?
Lukewarm coffee.
No one wants a lukewarm cup ofcoffee.
Yuck And I think that's a lessonfor all of us, isn't it?
(01:54):
Whatever our financial plan is,we either need to be all in or
all out.
Hot coffee or cold coffee.
But lukewarm coffee's gross, andnobody wants lukewarm coffee.
Now, I will drink it.
Please know I will drink thatcup of coffee.
I just won't like it.
(02:14):
But I will enjoy the little bitsof caffeine that I can.
Same is true with our money.
If we have lukewarm financialplan, we can spend the money But
we're not going to get theenjoyment out of it that we are
hoping for.
I learned from watching anepisode of Seventh Heaven that
(02:39):
the shortest distance betweentwo points is a straight line.
This may seem like a total leftturn, but it's not.
Come with me here.
There is an episode where LucyCamden keeps leaving her
lunchbox in her classroom whenshe goes to lunch.
It's a class right before lunch.
She leaves it in the classroom.
She goes to the lunchroom,realizes she forgot it, runs
(03:00):
back, and her geometry teacher'salready eating her lunch.
Now, in today's world, if theteacher's eating the kid's
lunch, there's going to be areally big problem.
That's no good, right?
But what's so funny is after,like, the fourth or fifth time,
this woman eating her lunch, sherealizes there's a shorter path,
straight line through, for herto get back in time for her to
(03:23):
get her sandwich before theteacher eats it.
And that's all the geometryteacher was trying to teach her
was that the shortest distancebetween two points is a straight
line.
I have never forgotten this.
What does this have to do withour money, and what does it have
anything to do with jumping in apool and the temperature of our
coffee?
Well, the shortest distancebetween two points is a straight
line.
The shortest distance betweenwhere you are right now and
(03:46):
where you wanna be financiallyis a piping hot financial plan.
And I want you to be all in onthis hot cup of delicious
financial plan.
There, you see, there's a reallybig cost to stopping and
starting on your plan.
Think a bit.
(04:07):
Think about investing.
You put your money in themarket.
You let it ride the rollercoaster up and down and up and
down and up and down.
But every time you stop and youpull it out, you lose all the
progress.
It's like the 401k loan youtook.
You just stopped the progress.
"Oh, I'm paying myself theinterest." You've stopped all
the progress.
When you take your money out ofthe market, you've stopped all
(04:31):
of the progress.
And a lot of times we take itout at the wrong time.
We take it out at the bottom ofthe market because we get
scared.
We get scared and we don't wantit in the market anymore, so we
take it out, and guess whatwe've just done.
We've locked in our loss.
But if you'll ride it up, itgoes back up always.
(04:52):
So far in the history of thestock market, it does go down,
and it always goes back up.
If you look at it far enough,the timeline, the trajectory,
it's all up and to the right.
But sometimes we get scared, andwe pull it out, and we lock in
our losses, and we lose all ofour progress What does a piping
(05:14):
hot financial plan look like forbudgeting?
Well, it looks like consistency.
But when we stop, when we getlukewarm about our budgeting, we
lose consistency, we losecontrol, and we think,"Oh, I've
got it.
I've got it.
It's all in my head.
It's all in my head." It's not.
I promise you,'cause I've doneit, and this is my job.
(05:34):
I promise you that you willthink that you haven't spent the
money that you've already spent,and then you will overspend in
the category because you weren'tpaying attention.
This happens all the time, notonly to me occasionally when I
fall off the wagon, and I dofrom time to time, especially
with this big move.
I'm finally back on it, and I'mon it because we have some
awesome goals and awesome plansfor this new house.
(05:56):
And so I want to stay on top ofit, and I want to be consistent.
And I want to build theconfidence in myself.
When your money plan, yourgeneral plan with how you handle
your money is consistent, it's apiping hot money plan, you have
confidence in yourself But ifyou are not paying attention to
(06:19):
your money, if you're startingand stopping and starting and
stopping, you will lose thatconfidence in yourself.
And when you lose confidence,it's really hard to get it back.
It's really hard to keep theplan going towards the ultimate
goal because now you've lostconfidence in yourself.
You've lost confidence in theplan because the plan's not
working.
But you know why the plan's notworking?
'Cause you're not working theplan.
(06:41):
There is a huge disservice thatyou are doing to yourself when
you lose the hot in your plan.
The cost of starting andstopping, it's the cost of going
the long way around.
Your sandwich is gonna get eatenDo the shortest distance between
(07:03):
the two points.
That's why when we're talkingabout getting out of debt, we
are often recommending that youget, like, crazy intense about
it.
People will come to me andthey're like,"Well, I don't
wanna be, I don't wanna bepaying off debt for 14 years and
just not be able to live mylife." I don't want you to do
that either.
That's insanity.
But if you can do it in a shortsprint, if you can work hard,
(07:23):
diligently, focused, hot, youcan get out of debt quickly, and
then you never have to worryabout it again.
But if you're going to workreally intensely and push, and
push, and push, just hot, hot,hot plan, and then you get to
the end, and then you go get acar payment, or you open another
credit card, you're lukewarmnow, and you no longer like
(07:49):
yourself because you just didall of that work for what?
To put yourself right back inthe same position.
That is the cost of starting andstopping.
You start to waste all of youreffort.
And look, while you're young,all the effort while you're
young.
While you have the energy,before kids, especially if
you're coming to me and youdon't have kids yet, do all of
(08:11):
the hard stuff now becauseyou're setting yourself up for
so much ease later in life.
So let's talk about what itmeans to go all in.
For the record, I did go to achurch service this weekend, and
this was the name of theservice, the sermon.
It was All In Cross the Line,and I was like, absolutely yes,
100%.
(08:32):
I was incredibly convictedduring this sermon, and I've
decided that I'm no longer goingto do things like using ChatGPT
to give me any ideas, thoughts,or comments about my podcast
episodes.
I was leaning on it a little bittoo much to give me the next
topic, the next topic, and I'mnot going to be doing that
(08:54):
anymore.
This is all going to be 100% offthe top of my head.
And before, it was allcompletely me, too.
I would write all of my, I'dwrite my podcast episodes, but I
would ask it for thoughts.
Not doing that anymore.
I'm 100% here with you.
I'm 100% committed to giving you100% of just me moving forward.
(09:14):
However, I'd like to give yousome of you, too.
So if there's something that youhave a conversation question
about and you want to eithertalk to me about it, we'll jump
on a Zoom call and we'll talkabout it.
Or You can write in yourquestion and let me know.
You can do all of that on mywebsite
accelerateyourlegacy.com.
If you want to jump on a claritycall, it's
accelerateyourlegacy.com/claritycall.
(09:37):
So what does it mean to go in-all in?
It means that we commit, and wecommit wholeheartedly, and we
commit to the end goal, not justthe day-to-day decisions that we
need to get to the end goal, butwe make the end goal our
identity.
We say,"Okay, I am going to be aperson that is debt-free," and
we go in completely unwaver-unwaveringly.
Is that the way you say thatword?
(09:58):
Unwaveringly.
Goodness, English is hard today.
But when there is no waveringbecause we are fully committed,
you know what else we don't haveanymore?
We don't have any more decisionfatigue.
And if you are a mom of youngchildren, you know that decision
fatigue is real, and I promiseyou, if we can cut this off at
(10:19):
the knees, if we can commit toour financial plan, there is no
wavering from that financialplan.
Guess what?
There's no more decision fatiguebecause instead of making 17
choices a day about your money,you've already made all the hard
choices.
So now it's,"Does this alignwith my values or not?
Does this align with my end goalor not?" And then you don't have
(10:42):
to make any more decisions'causeyou've already made the big
decision.
If you have decided that you arenot going out to eat this week,
and somebody says,"Hey, do youwanna join me for tacos?" You've
already decided, and you'vealready committed to and
therefore are not wavering fromyour decision.
Sometimes this can be reallyhard in those moments, but if
we've already decided who we areand what we are committed to, it
(11:04):
doesn't have to be hard.
We're committed Another thing itmeans to go all in is that we
live out our money values everysingle day.
We live our money values.
You know what is never going tohappen to me?
I'm never gonna get a Kohl'scard.
I'm never getting any kind ofstore credit card ever.
(11:26):
And I will tell you, the otherday I was tempted to get a
Southwest card because you haveto pay$35 per bag now, which is
just insanity.
E- except I think it just wentup again.
I think it's$45 per bag now.
When Southwest has trained usthat bags fly free, and now
they've turned on us.
Maybe that's not the nicest wayto say that, but it's how it
(11:47):
feels.
But if you have a Southwestcredit card, you don't have to
pay for the bags.
And I was like,"Well, we'reflying so much for the next
couple of months, like, maybethat's worth..." Absolutely not.
That's not worth it.
$45 is not worth completelydegrading all of my integrity.
No It's not gonna happen.
(12:08):
You're not gonna get me over$45,Southwest, just because you had
trained me that bags fly freeand then you went and changed
the game.
Doesn't change me and myintegrity.
No, absolutely not.
Will not be happening.
Also, I'm looking at otherairlines now.
Thanks, Southwest.
The other thing about going allin is that we reach our goals
(12:29):
faster.
10 years ago, if you had told methat I would own a four-bedroom,
three-bathroom house with anoffice, I would have thought you
were completely joking.
Also, for, you know, 10 yearsago, if you told me I was gonna
have five kids, I would havelaughed at you.
You reach your goals so muchfaster.
(12:49):
I never could have imagined thelife that we have right now if I
hadn't gone all in on myfinancial commitments, if I
hadn't decided to work so hardto become debt free so that
every dollar we have goestowards the things that we value
and any of our financial goalsWe know what we want, and we
(13:10):
have gone all in.
Now, I'm telling you to go allin on the system, and I have a
system that I would love to walkyou through if you have any
questions.
But I know that there are a lotof people that have different
systems, and lately I've beenhearing a lot of hate for Dave
Ramsey's baby steps, and so Iwanted to address this.
(13:32):
Now, do I agree 100% with Daveon absolutely everything that he
has ever uttered?
No.
You can't agree with somebodylike that, except for Jesus,
okay?
Like, people are fallible.
People make mistakes.
But lately there has been thishuge backlash of hate against
his baby step one.
(13:52):
Baby step one is save$1,000.
Now, I do the same thing whenI'm working with my clients.
I want you to have a starteremergency fund so that we can
make sure that you don't gobackwards.
98% of my clients have a$1,000starter emergency fund.
That is what we have decidedtogether to do.
Some of my clients have decidedthey need more than that, and
guess what?
(14:13):
It's not my job to tell you whatyou do and do not do.
I will help you walk through anddecide for yourself.
I will ask you questions.
I will push back so that youhave a solid reasoning behind
your argument for why yoursystem is going to be your
system, but I will hold youaccountable to keep it, too.
So Dave has this system.
His seven baby steps havechanged over 10 million lives.
(14:36):
There are 10 million people thathave read his Total Money
Makeover.
There are, every year they'rehitting a billion dollars of
debt payoffs just in theirdebt-free screams.
So who knows what other peopleare doing that are not coming on
their stage and doing debt-freescreams.
I don't know.
But there's this hate right nowon this$1,000 emergency fund.
They're like,"It's from the'90s.
(14:56):
It needs to be more than that.
If you adjusted for inflation,it's 200, or$2,356." Go ahead
and adjust for inflation all youwant, but what we're not doing
is we're not taking into accountthe fact that there is financial
behavior.
That is what we're talkingabout.
It's the financial behavior thatneeds to change, not the dollar
(15:17):
amount.
The dollar amount in theemergency fund doesn't really
matter, and again, that's why Itell you I let my clients pick
their dollar amount.
My clients are free to choose ahigher dollar amount.
You're not free to choose lessthan$1,000.
You need$1,000 there But here'sthe crazy thing, and this is
what I want to address mostly inthis episode here, is that less
(15:37):
than 40% of Americans can paycash for a$1,000 emergency.
Now, there are all these peopleonline talking about how$1,000
isn't enough,$1,000 isn'tenough.
You're crazy if you think$1,000is important.
60% of Americans could benefitfrom following his baby steps
and having baby step one setaside.
(15:58):
60% of Americans would be helpedto put$1,000 aside for an
emergency.
I want to help 60% of Americans.
I would love to be talking to60% of Americans.
Please share this podcast with afriend, okay?
60% of Americans could be helpedby having a$1,000 emergency
(16:18):
fund.
That is what we're after.
This is about behavior change.
It's not about the dollar amountin the bank account.
The dollar amount in the bankaccount does not matter.
It is how you behave.
Are you all in on the system?
That's it.
Who do you want to be?
Are you all in?
A$1,000 emergency fund is thebeginning of life change.
(16:40):
It is not the be-all, end-all.
It is not the most importantthing, and in all honesty, I
don't want you to have only$1,000 in there for more than 12
months.
You should be working your buttoff to get the debt paid off so
we can get your emergency fundpicked up.
That's the whole goal.
This is the whole plan.
I have never once had a clientthat had$1,000 saved have a
(17:01):
larger emergency that could notbe covered by the$1,000.
Now, does it happen?
Sure Hasn't happened to any ofmy clients, and I've helped
hundreds of people a yearWhichever way you choose to go,
my friends, whichever way youchoose to go with your financial
plan, go all in.
Go all in.
Jump in both feet What is itthat people say?
(17:25):
They, they call it 10 toes down,standing on business.
Is that a thing?
Go 10 toes down.
You cannot move me.
I've made my plan.
I'm unwavering.
I promise that you will behappier with your financial
decision, your financial path,because you've made your
decision and you're walking itout.
You're standing in integrity,and that feels really good.
(17:48):
And you will get there faster ifyou hone in,"Here's my plan.
Here are the steps that I'mgonna take." You're at the
starting line.
Cross the finish line.
Give yourself small finish linesto hit so that you're hitting
them over and over and overagain, and you will continue
until you get to your ultimategoal.
Now, my husband and I areworking hard to put extra money
to pay this house off veryquickly, and next year we're
(18:12):
going to hit a huge milestone onhaving this house 50% paid off
next year, and we've only beenin the house for a month.
My friends, you can hit yourfinancial goals.
You have to set them first andyou gotta take the first little
baby steps.
And then I promise, once you'retoddling, you'll start going a
(18:35):
little faster, you'll start tosprint, you'll start to run, and
you will reach your goals.
But you gotta know where you'regoing and you gotta be 10 toes
down.
That's it this week, LegacyBuilders.
Go out and make a difference
I have never in my life been a jump in the pool kind of
person.
In fact, it, it astounds me alittle bit because my kids are,
my husband is, my best friendsalways jump directly in the
pool.
Even my dad back in the daywould let me push him into the
pool.
He'd sit down and test the waterevery time to see, if it was
(00:24):
good or not, and I'd push himin.
He was always a jump in the poolkind of person.
But me?
No, never.
Not once.
I do not jump in the pool.
I'm a wade in kind of person.
But I'm learning that howeveryou get in, once you're in, you
should be all in You arelistening to the Money and
(00:45):
Legacy Podcast with LauraSexton.
I'm helping families pay offdebt, grow wealth, and build a
legacy without sacrificing whatmatters most.
This is where money feels easy.
Hello, my legacy builders.
Welcome back to the Money Legacypodcast.
I'm so excited to have you heretoday.
It is hot here in MiddleTennessee.
(01:08):
It is hot, H-O-T-T hot.
And sometimes I just want icedcold coffee, and it brings me so
much joy.
And if I don't finish my coffeein the morning, which is rare at
this point because I'm alwaystired, if I don't finish my
coffee, I'll stick it in therefrigerator and let it get
really, really cold, and then inthe afternoon I get iced cold
(01:30):
coffee.
And I realize some people are,"Ionly drink hot coffee.
It doesn't matter how hot it is,I want hot coffee." some people
like their coffee hot and somepeople like it cold.
But you know what nobody likes?
Lukewarm coffee.
No one wants a lukewarm cup ofcoffee.
Yuck And I think that's a lessonfor all of us, isn't it?
(01:54):
Whatever our financial plan is,we either need to be all in or
all out.
Hot coffee or cold coffee.
But lukewarm coffee's gross, andnobody wants lukewarm coffee.
Now, I will drink it.
Please know I will drink thatcup of coffee.
I just won't like it.
(02:14):
But I will enjoy the little bitsof caffeine that I can.
Same is true with our money.
If we have lukewarm financialplan, we can spend the money But
we're not going to get theenjoyment out of it that we are
hoping for.
I learned from watching anepisode of Seventh Heaven that
(02:39):
the shortest distance betweentwo points is a straight line.
This may seem like a total leftturn, but it's not.
Come with me here.
There is an episode where LucyCamden keeps leaving her
lunchbox in her classroom whenshe goes to lunch.
It's a class right before lunch.
She leaves it in the classroom.
She goes to the lunchroom,realizes she forgot it, runs
(03:00):
back, and her geometry teacher'salready eating her lunch.
Now, in today's world, if theteacher's eating the kid's
lunch, there's going to be areally big problem.
That's no good, right?
But what's so funny is after,like, the fourth or fifth time,
this woman eating her lunch, sherealizes there's a shorter path,
straight line through, for herto get back in time for her to
(03:23):
get her sandwich before theteacher eats it.
And that's all the geometryteacher was trying to teach her
was that the shortest distancebetween two points is a straight
line.
I have never forgotten this.
What does this have to do withour money, and what does it have
anything to do with jumping in apool and the temperature of our
coffee?
Well, the shortest distancebetween two points is a straight
line.
The shortest distance betweenwhere you are right now and
(03:46):
where you wanna be financiallyis a piping hot financial plan.
And I want you to be all in onthis hot cup of delicious
financial plan.
There, you see, there's a reallybig cost to stopping and
starting on your plan.
Think a bit.
(04:07):
Think about investing.
You put your money in themarket.
You let it ride the rollercoaster up and down and up and
down and up and down.
But every time you stop and youpull it out, you lose all the
progress.
It's like the 401k loan youtook.
You just stopped the progress.
"Oh, I'm paying myself theinterest." You've stopped all
the progress.
When you take your money out ofthe market, you've stopped all
(04:31):
of the progress.
And a lot of times we take itout at the wrong time.
We take it out at the bottom ofthe market because we get
scared.
We get scared and we don't wantit in the market anymore, so we
take it out, and guess whatwe've just done.
We've locked in our loss.
But if you'll ride it up, itgoes back up always.
(04:52):
So far in the history of thestock market, it does go down,
and it always goes back up.
If you look at it far enough,the timeline, the trajectory,
it's all up and to the right.
But sometimes we get scared, andwe pull it out, and we lock in
our losses, and we lose all ofour progress What does a piping
(05:14):
hot financial plan look like forbudgeting?
Well, it looks like consistency.
But when we stop, when we getlukewarm about our budgeting, we
lose consistency, we losecontrol, and we think,"Oh, I've
got it.
I've got it.
It's all in my head.
It's all in my head." It's not.
I promise you,'cause I've doneit, and this is my job.
(05:34):
I promise you that you willthink that you haven't spent the
money that you've already spent,and then you will overspend in
the category because you weren'tpaying attention.
This happens all the time, notonly to me occasionally when I
fall off the wagon, and I dofrom time to time, especially
with this big move.
I'm finally back on it, and I'mon it because we have some
awesome goals and awesome plansfor this new house.
(05:56):
And so I want to stay on top ofit, and I want to be consistent.
And I want to build theconfidence in myself.
When your money plan, yourgeneral plan with how you handle
your money is consistent, it's apiping hot money plan, you have
confidence in yourself But ifyou are not paying attention to
(06:19):
your money, if you're startingand stopping and starting and
stopping, you will lose thatconfidence in yourself.
And when you lose confidence,it's really hard to get it back.
It's really hard to keep theplan going towards the ultimate
goal because now you've lostconfidence in yourself.
You've lost confidence in theplan because the plan's not
working.
But you know why the plan's notworking?
'Cause you're not working theplan.
(06:41):
There is a huge disservice thatyou are doing to yourself when
you lose the hot in your plan.
The cost of starting andstopping, it's the cost of going
the long way around.
Your sandwich is gonna get eatenDo the shortest distance between
(07:03):
the two points.
That's why when we're talkingabout getting out of debt, we
are often recommending that youget, like, crazy intense about
it.
People will come to me andthey're like,"Well, I don't
wanna be, I don't wanna bepaying off debt for 14 years and
just not be able to live mylife." I don't want you to do
that either.
That's insanity.
But if you can do it in a shortsprint, if you can work hard,
(07:23):
diligently, focused, hot, youcan get out of debt quickly, and
then you never have to worryabout it again.
But if you're going to workreally intensely and push, and
push, and push, just hot, hot,hot plan, and then you get to
the end, and then you go get acar payment, or you open another
credit card, you're lukewarmnow, and you no longer like
(07:49):
yourself because you just didall of that work for what?
To put yourself right back inthe same position.
That is the cost of starting andstopping.
You start to waste all of youreffort.
And look, while you're young,all the effort while you're
young.
While you have the energy,before kids, especially if
you're coming to me and youdon't have kids yet, do all of
(08:11):
the hard stuff now becauseyou're setting yourself up for
so much ease later in life.
So let's talk about what itmeans to go all in.
For the record, I did go to achurch service this weekend, and
this was the name of theservice, the sermon.
It was All In Cross the Line,and I was like, absolutely yes,
100%.
(08:32):
I was incredibly convictedduring this sermon, and I've
decided that I'm no longer goingto do things like using ChatGPT
to give me any ideas, thoughts,or comments about my podcast
episodes.
I was leaning on it a little bittoo much to give me the next
topic, the next topic, and I'mnot going to be doing that
(08:54):
anymore.
This is all going to be 100% offthe top of my head.
And before, it was allcompletely me, too.
I would write all of my, I'dwrite my podcast episodes, but I
would ask it for thoughts.
Not doing that anymore.
I'm 100% here with you.
I'm 100% committed to giving you100% of just me moving forward.
(09:14):
However, I'd like to give yousome of you, too.
So if there's something that youhave a conversation question
about and you want to eithertalk to me about it, we'll jump
on a Zoom call and we'll talkabout it.
Or You can write in yourquestion and let me know.
You can do all of that on mywebsite
accelerateyourlegacy.com.
If you want to jump on a claritycall, it's
accelerateyourlegacy.com/claritycall.
(09:37):
So what does it mean to go in-all in?
It means that we commit, and wecommit wholeheartedly, and we
commit to the end goal, not justthe day-to-day decisions that we
need to get to the end goal, butwe make the end goal our
identity.
We say,"Okay, I am going to be aperson that is debt-free," and
we go in completely unwaver-unwaveringly.
Is that the way you say thatword?
(09:58):
Unwaveringly.
Goodness, English is hard today.
But when there is no waveringbecause we are fully committed,
you know what else we don't haveanymore?
We don't have any more decisionfatigue.
And if you are a mom of youngchildren, you know that decision
fatigue is real, and I promiseyou, if we can cut this off at
(10:19):
the knees, if we can commit toour financial plan, there is no
wavering from that financialplan.
Guess what?
There's no more decision fatiguebecause instead of making 17
choices a day about your money,you've already made all the hard
choices.
So now it's,"Does this alignwith my values or not?
Does this align with my end goalor not?" And then you don't have
(10:42):
to make any more decisions'causeyou've already made the big
decision.
If you have decided that you arenot going out to eat this week,
and somebody says,"Hey, do youwanna join me for tacos?" You've
already decided, and you'vealready committed to and
therefore are not wavering fromyour decision.
Sometimes this can be reallyhard in those moments, but if
we've already decided who we areand what we are committed to, it
(11:04):
doesn't have to be hard.
We're committed Another thing itmeans to go all in is that we
live out our money values everysingle day.
We live our money values.
You know what is never going tohappen to me?
I'm never gonna get a Kohl'scard.
I'm never getting any kind ofstore credit card ever.
(11:26):
And I will tell you, the otherday I was tempted to get a
Southwest card because you haveto pay$35 per bag now, which is
just insanity.
E- except I think it just wentup again.
I think it's$45 per bag now.
When Southwest has trained usthat bags fly free, and now
they've turned on us.
Maybe that's not the nicest wayto say that, but it's how it
(11:47):
feels.
But if you have a Southwestcredit card, you don't have to
pay for the bags.
And I was like,"Well, we'reflying so much for the next
couple of months, like, maybethat's worth..." Absolutely not.
That's not worth it.
$45 is not worth completelydegrading all of my integrity.
No It's not gonna happen.
(12:08):
You're not gonna get me over$45,Southwest, just because you had
trained me that bags fly freeand then you went and changed
the game.
Doesn't change me and myintegrity.
No, absolutely not.
Will not be happening.
Also, I'm looking at otherairlines now.
Thanks, Southwest.
The other thing about going allin is that we reach our goals
(12:29):
faster.
10 years ago, if you had told methat I would own a four-bedroom,
three-bathroom house with anoffice, I would have thought you
were completely joking.
Also, for, you know, 10 yearsago, if you told me I was gonna
have five kids, I would havelaughed at you.
You reach your goals so muchfaster.
(12:49):
I never could have imagined thelife that we have right now if I
hadn't gone all in on myfinancial commitments, if I
hadn't decided to work so hardto become debt free so that
every dollar we have goestowards the things that we value
and any of our financial goalsWe know what we want, and we
(13:10):
have gone all in.
Now, I'm telling you to go allin on the system, and I have a
system that I would love to walkyou through if you have any
questions.
But I know that there are a lotof people that have different
systems, and lately I've beenhearing a lot of hate for Dave
Ramsey's baby steps, and so Iwanted to address this.
(13:32):
Now, do I agree 100% with Daveon absolutely everything that he
has ever uttered?
No.
You can't agree with somebodylike that, except for Jesus,
okay?
Like, people are fallible.
People make mistakes.
But lately there has been thishuge backlash of hate against
his baby step one.
(13:52):
Baby step one is save$1,000.
Now, I do the same thing whenI'm working with my clients.
I want you to have a starteremergency fund so that we can
make sure that you don't gobackwards.
98% of my clients have a$1,000starter emergency fund.
That is what we have decidedtogether to do.
Some of my clients have decidedthey need more than that, and
guess what?
(14:13):
It's not my job to tell you whatyou do and do not do.
I will help you walk through anddecide for yourself.
I will ask you questions.
I will push back so that youhave a solid reasoning behind
your argument for why yoursystem is going to be your
system, but I will hold youaccountable to keep it, too.
So Dave has this system.
His seven baby steps havechanged over 10 million lives.
(14:36):
There are 10 million people thathave read his Total Money
Makeover.
There are, every year they'rehitting a billion dollars of
debt payoffs just in theirdebt-free screams.
So who knows what other peopleare doing that are not coming on
their stage and doing debt-freescreams.
I don't know.
But there's this hate right nowon this$1,000 emergency fund.
They're like,"It's from the'90s.
(14:56):
It needs to be more than that.
If you adjusted for inflation,it's 200, or$2,356." Go ahead
and adjust for inflation all youwant, but what we're not doing
is we're not taking into accountthe fact that there is financial
behavior.
That is what we're talkingabout.
It's the financial behavior thatneeds to change, not the dollar
(15:17):
amount.
The dollar amount in theemergency fund doesn't really
matter, and again, that's why Itell you I let my clients pick
their dollar amount.
My clients are free to choose ahigher dollar amount.
You're not free to choose lessthan$1,000.
You need$1,000 there But here'sthe crazy thing, and this is
what I want to address mostly inthis episode here, is that less
(15:37):
than 40% of Americans can paycash for a$1,000 emergency.
Now, there are all these peopleonline talking about how$1,000
isn't enough,$1,000 isn'tenough.
You're crazy if you think$1,000is important.
60% of Americans could benefitfrom following his baby steps
and having baby step one setaside.
(15:58):
60% of Americans would be helpedto put$1,000 aside for an
emergency.
I want to help 60% of Americans.
I would love to be talking to60% of Americans.
Please share this podcast with afriend, okay?
60% of Americans could be helpedby having a$1,000 emergency
(16:18):
fund.
That is what we're after.
This is about behavior change.
It's not about the dollar amountin the bank account.
The dollar amount in the bankaccount does not matter.
It is how you behave.
Are you all in on the system?
That's it.
Who do you want to be?
Are you all in?
A$1,000 emergency fund is thebeginning of life change.
(16:40):
It is not the be-all, end-all.
It is not the most importantthing, and in all honesty, I
don't want you to have only$1,000 in there for more than 12
months.
You should be working your buttoff to get the debt paid off so
we can get your emergency fundpicked up.
That's the whole goal.
This is the whole plan.
I have never once had a clientthat had$1,000 saved have a
(17:01):
larger emergency that could notbe covered by the$1,000.
Now, does it happen?
Sure Hasn't happened to any ofmy clients, and I've helped
hundreds of people a yearWhichever way you choose to go,
my friends, whichever way youchoose to go with your financial
plan, go all in.
Go all in.
Jump in both feet What is itthat people say?
(17:25):
They, they call it 10 toes down,standing on business.
Is that a thing?
Go 10 toes down.
You cannot move me.
I've made my plan.
I'm unwavering.
I promise that you will behappier with your financial
decision, your financial path,because you've made your
decision and you're walking itout.
You're standing in integrity,and that feels really good.
(17:48):
And you will get there faster ifyou hone in,"Here's my plan.
Here are the steps that I'mgonna take." You're at the
starting line.
Cross the finish line.
Give yourself small finish linesto hit so that you're hitting
them over and over and overagain, and you will continue
until you get to your ultimategoal.
Now, my husband and I areworking hard to put extra money
to pay this house off veryquickly, and next year we're
(18:12):
going to hit a huge milestone onhaving this house 50% paid off
next year, and we've only beenin the house for a month.
My friends, you can hit yourfinancial goals.
You have to set them first andyou gotta take the first little
baby steps.
And then I promise, once you'retoddling, you'll start going a
(18:35):
little faster, you'll start tosprint, you'll start to run, and
you will reach your goals.
But you gotta know where you'regoing and you gotta be 10 toes
down.
That's it this week, LegacyBuilders.
Go out and make a difference
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