January 23, 2024 • 26 mins
Hello Hello!
Welcome Back to The Mindfully Rich Podcast!
Are you ready to transform your financial situation this year? Well, that's what we on over here on the podcast, and I want you to win with your money, too, in 2024. That's why I'm taking you on a personal journey through the power of intention and the beauty of a well-crafted financial goal to add to your vision board.
Today, I'm laying out the blueprint to help you visualize and actualize your 2024 money moves. From dreamy aspirations to concrete steps, let this episode be your financial compass, giving you the clarity and direction to navigate the path to success and confidence to achieve your financial goals this year!
This year, it's out of there for just dreaming big because this year, The Mindfully Rich Podcast is making those financial dreams you have a tangible reality! I'm arming you with the knowledge and motivation to create successful strategies for your goals!
Book Me As Your Financial Guide:
Everyone's financial journey is unique, and I emphasize the importance of research when tailoring strategies to your specific goals. Whether you're looking to save for a home, invest for retirement, or pay off debt, customizing your approach is key.
But the guidance continues! I'd like to introduce the option of working with you as your financial guidance coach. To kick things off, I invite you to a no-cost discovery call to explore if we're the perfect fit to work together. I'll also explain how my expertise can complement your efforts, offering personalized strategies and support on your financial path. Click Here to book an appointment with me!
Above all, I want YOU to win in your finances. To achieve this victory, we delve into the significance of using vision boards to keep your goals at the forefront of your mind. It's not just about setting goals; it's about seeing them, believing in them, and taking actionable steps to turn them into reality.
Please tune in to Episode 124 as we embark on a journey of financial empowerment, setting SMART goals, and crafting strategies that lead to triumph. Your financial success story starts here! Don't forget to check out the link below for your no-cost discovery call—I'm here to help you achieve your 2024 financial goals. Let's make it happen together!
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Gina RichE Richardson (00:00):
Hello, hello and welcome back to the
Mindfully Rich podcast, yourweekly check-in that encourages
you to elevate your overallrelationship with money and
guide to building betterfinancial habits.
On each episode I'll discussreal-life situations and give
you all practical advice.
The point of this podcast is tohelp you stand your financial
lane so you won't end up broke.
(00:22):
I'm the creator and host, ginaRichie Richardson.
Now let's jump into today'sconversation.
What's up?
Y'all, we back, we back.
I know y'all was like where isshe at?
She said we back Chow.
Let me tell you what.
Okay, last week was my birthdayweek.
You know I end Capricorn seasonfor those of you who know.
(00:44):
You know I'm a Capricorn and soit was so much going on and
along with that, my voice wasplaying with me.
Now, the last episode, I had noidea real raspy Y'all.
I was too raspy, I couldn'teven talk.
I was like, uh-uh, we not evenfinna do that.
I'm not even finna.
Play y'all and have y'all wait.
We just gonna go ahead and getit out on the regular day.
(01:06):
That's what we gonna do, okay,and last Friday was my birthday.
The 16th was my sorority's,founder's day.
The 15th, mlk day.
I was at the walk.
It was so much your girl beenbooked and busy.
Okay, let's just say it likethat.
But check this out.
I'm back.
All right, let's go ahead and doa quick recap.
(01:28):
For those of y'all who don'tknow I'm back Period.
I am Make sure you go check outthe episode before this one,
just because I was talking aboutcreating vision boards for your
financial goals, having thatdaily visualization so that way
you can continue to look at your2024 financial goals.
(01:48):
Now, this is the thing aboutthose financial goals.
If you haven't already createdthat vision board, today I'm
going to talk about strategies,just because I spent a lot of
time talking about why a visionboard would be good for your
financial goals and also how tocreate that financial goal.
But I'm going to go a little bitmore into detail today just
(02:09):
because I realized I was likeyou may have put the cart before
the horse.
Now let me tell you about meand my old Sands.
Now I don't know what it is.
I was telling my best friendReesey.
I said I am in old Sands zone.
Like I've been saying a lot ofold Sands, I don't know what it
is.
I don't know if this is theintroduction to 39.
This is my introduction tobeing an elder or what, okay.
(02:31):
But I realized after listeningback to it even though a whole
bunch of y'all listened to it,okay, like I think the first day
I had like over 300 downloadsand I was like, shut up, y'all
better be up in here listening.
But what I wanted to do todaywas kind of rewind a little bit
focus.
Those financial goals bringclarity to it and also
(02:55):
strategies to it.
All right, so let's go ahead andjump into today's topic.
So we're going to do thisthrough our mindful money moment
.
Lots of you who have beenrocking with me for forever
Y'all know what this is.
For those of you that are new,I normally will take a topic.
I used to take topics directlyfrom songs that I like, some
(03:17):
titles that I would like, butciao, bye, bye, bye.
I've been doing this for a longtime now.
I think this is episode 126.
One enough songs, okay, andeverything ain't gonna go with
everything.
So I just had to get used tothat.
But still know your girl lovemusic, all right, and so let's
go ahead and jump into ourmindful money moment, where
we're going to talk about andclarify some strategies to help
(03:40):
you with reaching your 2024financial goals.
All right, capricorn season hascome to an end and I believe
last episode and this is justthe fact during Capricorn season
, there's a lot of resolutionsthat are being put out there.
People are starting over,people are making intentions for
the year.
They are saying I'm about to dothis, this is going to be my
(04:03):
year, because it's the beginningof the year, that can also feel
a bit stressful to put onyourself All of the things that
you're going to do.
I realized that I needed tostart this episode, probably in
November because December is sobusy, but probably in November.
So next year, we're going tostart talking about this stuff
in November, because I get howstressful that is People trying
(04:24):
to hurry up and create goalsbefore the end of January and
y'all.
This month has went so quickly.
I don't know what is going on,but all I know is that this year
I want y'all to win.
I got a different fight in methis year.
I don't know what's going on,but I want you to win.
I'm going to win.
We just going to be winning all2024.
(04:46):
And so I know that there areaspirations that you have for
your life, that you want foryour life, and I want to be that
very financial godmother foryou to help you with creating
those 2024 financial aspirationsthat you have for your life and
also giving you thosestrategies that can help you,
(05:07):
because it's nothing to just say, oh I want to do this right,
but how are you going to do that?
Like I'm going to give y'all anexample, take you into my world
.
All right.
This year I told myself that Iwant to be healthier mind, body
and spirit.
Also want to lose weight.
Okay, I'm getting older.
Metabolism ain't metabolizinglike it used to.
(05:28):
This is a good 200 child, okay,and so I know that those are
the things I want to do.
Lots of people want to do that,right, but what am I going to
do to reach that?
It's not hard.
It's not like everybody doesn'thave knowledge on what does it
mean to eat healthier?
Eat healthier foods, right.
Lower your lower your carbintake, lower your sugar intake.
(05:49):
You know.
You know there are things thatyou could do off top without
even having to research it.
I know that if I want to loseweight, I probably need to
exercise and eating better,eating healthier.
It's going to be one of thoseways that's going to help me.
So this is the thing, right,although I know those things,
(06:09):
how am I going to stay motivatedto that?
What are my strategies to dothat?
Just because, if, if I couldhave just did it, I would have
done it right.
So that's the reason why lastweek I was saying keeping it in
front of you, having that visionboard, but also the strategy
part, is going to be veryimportant.
So, for this particular example, how I'm going to eat healthier
(06:30):
, how I'm going to lose weight,I'm going to walk 10,000 steps
every day, rain permitting,child, because I don't know
what's going on out here, therain, just do not want me to be
great.
Okay, I'm like look, I got awhole goal to make you, in my
way, rain, all right.
So 10,000 steps is the goal.
I'm also recording the foodsthat I eat into my fitness pal.
(06:51):
You're probably wondering whatdoes that do?
So, with me recording the foodsin my fitness pal, I'm getting
a chance to see how manycalories is each food that I'm
eating, and I'm being honest andI'm like, ooh.
So it's funny because I startedoff recording the foods as I
would, you know, just regularlyeat food, just saying I'm going
(07:11):
to record it, but in my fitnesspal.
It gives you the opportunity toput in what your goal is Are
you trying to lose weight?
And it tells you how manycalories you need.
So if I'm putting in food forthe day and then I see I'm over
those calories, it's making methink twice.
So I'm doing actions to assistme with this goal.
(07:32):
I get a chance to keep it infront of me.
Those are strategies.
Using my fitness pal walking10,000 steps, I'm also yeah, I'm
trying.
Okay, and I had the pause here.
Okay, I'm trying to ride thepeloton five times a week up to
a 30 minute ride.
Okay, I'm trying.
I have the peloton app.
(07:55):
That is reminding me you saidfive times, girl, I got my
fitness power.
That is reminding me you didn'tput your food in.
I also have my vision boardthat has my health goals on it.
That's showing me.
Hey, girl, you said you walking10,000 steps.
You said you're doing this.
So all of those things arecreated to be strategies to help
(08:15):
me with achieving that goal.
Now, I gave you that longexample telling you about me
because I want to use that as anexample as we move into your
financial goals and creating thestrategies that you're going to
need so that you can achievethem.
All right.
So where we at, I'm trying tomake sure, okay, I remember
(08:36):
where I was going, because Iloosely wrote notes for this,
just because I don't know ify'all hear me, I'm fired up
about this one.
Okay, this is, this is my thing.
All right, this is what I liketo do, all right.
And so, going back to lastweek's example that I use when I
was using your financial goals,when creating your financial
goals, I'm using a popular goaljust because I'm also a
financial guide.
(08:57):
I like to call myself a guideversus a coach, because I'm both
of those things.
I've been educating people ontheir finances for the last 16
years, and so I use the goal ofincreasing your credit score
because that is so popular.
Lots of people have creditcentered goals, and increasing
your score is one of the top.
(09:18):
Okay, probably literally 90% ofmy clients.
That's what they're trying todo right now, and so, with
knowing that that's a goal thatyou want to reach, what is going
to be that strategy?
But this is the thing.
Before we even create astrategy for that, what I
normally do with my clients isif you have a goal to increase
(09:39):
your credit score.
How much do you want toincrease said credit score?
Are you sitting at a 590 rightnow and you're trying to get to
700?
Are you sitting at a 700 andyou're trying to get to a 50?
That's going to be importantbecause it's one thing just to
say I want to increase my creditscore.
(10:01):
We, as people I'm realizing thisbecause I'm taking some classes
on consumer behavior, thescience behind why we act the
way that we act we, as people,need to have very specific goals
, which is where smart goalscomes in, because you can say,
at 590, I want to increase myscore.
(10:21):
Say you increase your score to600.
You did what you said you wantto do, but you may be thinking
in your head, but I didn'tincrease it to this, but you
didn't say that initially.
So you have to make sure thatyou have that.
What's the word?
Did you all see how it almostjumped out there?
(10:42):
Let's just say specific.
I was about to sayspecification Maybe that is the
word, who knows.
Whatever Specific, we justgoing to stick there.
Ok, if I'm using this as anexample, but I know that this is
in actual financial goal for alot of people, if raising your
credit score is your financialgoal for 2024,.
(11:07):
Make sure that you get realspecific.
We're going to go, we're goingto talk talking smart goal
language.
You got to get very specificand say I want to increase my
score 50 points.
I want to increase my score 75points, 100 points, 200 points.
But this is the thing.
As you are being specific andsaying, all right, I want to
(11:29):
increase my score by this amountof points, it also has to be
measurable.
How are we going to measurethat Right?
How are we going to measure ifyou are increasing your score?
All right, we know that thereare tools for us to measure if
your score is increasing.
Checking your credit report Ialways have my clients go to
experience, download theexperience app.
(11:50):
You can also review your creditreport and score on experience
website for free.
They give you a new score everymonth.
They monitor throughout themonth.
You can always see where you'reat.
I like that just because it'san actual credit bureau.
Remember, there's threeexperience, equifax and TransUan
.
And I just like experience.
I like the way their reportsread.
(12:11):
I like the information thatthey give consumers.
Amazing, keep going.
Experience All right, you canalso check on Equifax.
Equifax did I think they juststarted feeling sorry because
everybody information is gettinghacked.
So they felt sorry and allowpeople to start reviewing their
credit reports and scores ontheir website.
I don't know about the app.
(12:33):
You have to check it out Now.
Transuan I plan with y'all.
Transuan is like look, youcan't get it for free over here.
We still got bills to pay.
Okay, I think TransUan islocated in Chicago too, so that
makes sense.
That's how we all we like yougot to pay.
We're going to come up, okay.
So TransUan you can't look atfor free.
(12:56):
But there are other places whereyou can look at your TransUan
report and score, like creditkarma.
When people are going to creditkarma, you have two bureaus on
there.
You have Equifax and TransUanand so you can see your credit
report and you can see yourscore.
But those are Vantage scoresbecause there's a thing called
your FICO scores, which aregoing to be the scores normally
(13:17):
that your credit bureaus aregoing to be using.
So like, if you go to get aloan, they're looking at FICO
scores, but there's a thingcalled Vantage scores that came
out after FICO and it kind ofincreases your score a little
bit.
It don't be the real score, butthis is the thing.
You can still go to creditkarma.
Look at the report.
It's going to have a score, butjust know it's not your FICO
score.
That's the best way I could putthat.
(13:38):
You probably got a whole bunchof questions about that.
You probably need to hit up mywebsite so that you can be one
of my guidance clients.
Okay, can go into all thatright now, but anyways, fico
scores, vantage scores also,just say it where you could
check both your credit reportand check your score, because
when you set the goal of wantingto increase your credit score,
(14:00):
you have to make sure that youare measuring it and seeing.
So, with my clients, we'relooking monthly.
Sometimes we're looking twice amonth so that we can see where
were you at on January 1st,where are we at on January 15th?
Where are you at on January31st?
Where are you at February 1st?
You get it.
So that way we can measure it.
Okay, so still talking in smartgoals, since in the sense of
(14:24):
increasing your credit score.
So, moving to the, what are theSMA achievable?
Yes, setting the goal is thescore that you want to reach.
Is it achievable, right?
So I just said, if you have a590 and you set the.
You set a goal of I want toincrease my score 200 points.
Okay, so you want to go to 790.
(14:46):
Now I'm not going to tell you790 is not possible.
790 going to be a stretch goalbecause you're going to have to
do some things so that you canget the 790 that you want.
Okay, I was about to gosomewhere that was going to be
so funny, but we serious, rightnow that's going to be I'm
(15:06):
trying to use a good word it'sgoing to be more challenging to
reach a 200 point increase from590.
Then it would be a 75.
Or a hundred score increase.
Just because, how realistic isthat?
Okay, that's going to be the R.
How realistic is that?
Because we don't want to setgoals that we not going to
(15:29):
achieve.
All right, let's just be forreal.
All right, you can set the.
You can set the standard and sayfor my goal, I want to increase
my score 200 points, dependingon your credit report.
Some people can do that becausethey credit report may have a
lot of issues.
Challenges is the word we'regoing to use here.
They may have not been payingtheir bills on time.
(15:51):
There may be a lot of creditcard debt that they can pay down
where that type of scoreincrease is possible.
Now there are people like myclients who want to purchase
houses.
They're paying their bills ontime.
They don't have a letter creditcard debt.
A 200 point increase is goingto be harder for them to reach
because they're already doingthe right thing.
(16:12):
So now we have to figure outwhat are healthy ways to build
and establish new credit to helpput that in your total credit
mix to increase your score.
So you get what I'm saying.
Everybody's situation is goingto be different.
That's the thing that I alwaysI can't explain enough because
(16:33):
it's like a lot of people thinkoh, I see this one person.
They said do this, that has towork.
Everybody's situation isdifferent.
That's the reason why there isa need for financial guides and
coaches like myself to assistindividuals with what it looks
like for you.
What Bobby's sue did over hereain't gonna work for Becky's
suit.
(16:53):
Okay, because we all havedifferent credit needs.
We pay different, we keepdifferent amount of debts.
We are not the same, but lotsof people like to take
information, look at it as if itis just one.
It is in one case.
This is the only thing that youcan do.
No, just like there are severalways to lose weight, there are
(17:15):
several ways to reach yourfinancial goal and, using the
same example of increasing acredit score, there are several
ways that you can do that.
But your case may be differentfrom mine or someone else's, so
you have to understandstrategies as a whole,
understand where you're at,understand where you stand
(17:38):
within your income situation,your expenses, everything in
order to know what strategiesare going to be realistic enough
for you to be able to reachyour goal.
All right, and get into the T.
I got through that pretty good.
Okay, and get to the T.
We got to put a time on it.
All right.
Anytime I'm working with myclients, look, we got to put a
time on it.
So that way we can know in thenext three months, in the next
(18:00):
six months.
Three to six months are verygood goals, even nine months,
all right.
I like to most of my clientsshort term, but some of them
stay on.
I'm going to say three to ninemonths on average, just because
some people they get the answerto what it is that they wanted
to know and boom, I'm out.
I'm cool.
Then they back when they haveanother one.
(18:22):
That's cool because it happenslike that.
It's kind of like therapy.
Right now I'm in therapybecause, baby, I need therapy
right now, okay, okay, once Iget to the uh-huh, the final
uh-huh, I don't know how longI'm going to stay, but right now
I need every single bit of itevery week.
Okay, that's what we do aspeople, especially when you have
(18:44):
goals that you want to achieve.
I realized I was stuck in mylife.
I needed a therapist.
I needed to get through thisstuck portion of my life.
Y'all probably hear how I sounddown.
You go back some episodes.
Your girl wasn't sounding likethis.
That's because I am fiveappointments in on therapy.
Okay, I was stuck and I'mwilling to pay when I'm stuck.
(19:07):
Okay, we got to get me out ofstuck because your girl got to
be back.
And so that's just like withfinancial coaches, financial
guys, things like that,financial educators getting the
assistance that you need,whether that's listening to
podcasts, doing your research,going on the YouTube, going and
looking at websites, getting theeducation you need, actually
paying for someone to be yourculture or your guide.
(19:30):
You do what you need to do sothat way you can see what fits
your situation to get you there.
Okay, I've made a lot ofmistakes.
I spent the whole year knowingI need a therapy and then didn't
get it into December, okay.
So just giving you an example.
But going back to the goals,making sure that that goal is a
smart goal I've went througheach letter.
(19:51):
So it has to be specific,measurable, achievable,
realistic and it has to have atimeframe that you are putting
on it.
All right, this is the thing isone thing when we say, all
right, I got all that.
I know I got my smart goaltogether, my smart financial
goal.
I've created it.
This is what it is.
It's ready to go on my visionboard.
(20:11):
Got it Okay?
One more thing I want to makesure that we we understand, in
creating our goals, we alwaysknow life gone, life.
There are going to be factors,especially financial, especially
our internal factors, that wesomewhat have control over, that
are going to affect ourfinances throughout the year.
(20:34):
So I want you to be mindful ofthat.
So, some internal factors thatcould affect you reaching your
financial goals, your smartfinancial goals of 2024, your
income.
Whether your income is up,whether your income is down,
that is somewhat in your control.
What are you going to do?
Is your income at a place whereyou can achieve the smart goal
(20:57):
that you need to achieve?
All right, are your expensesintact?
That is something that wesomewhat can control.
There are things that we need.
There are things that we haveperceived needs for.
There are things that we had toget just because of things
coming up.
I understand that, all right.
So your expenses, your debtsare those going to be in a place
?
Those are things.
Those are questions that you'regoing to have to ask yourself,
(21:18):
just because, if you have to putmoney into trying to achieve
your goal, are you going to beable to still live on on the
other side of that?
Okay?
So I want you to think aboutthose internal factors Also.
I put this down just because Ithink that this is important Our
(21:39):
knowledge of financial concepts.
Now, while it's good to haveknowledge right, studies show
that, although even when we haveknowledge, 80% of our Financial
spending, what we do with ourmoney, is behavior.
It's associated with ourbehavior, not with knowledge.
(22:01):
So I do want you to know, I dowant you to be students.
I want you to listen to theMindfully Rich podcast so that
you can stay mindful andintentional.
I want you to find otherresources that talk about money,
so that you can take thoseperspectives yourself and you
can create what you're gonna doand how you're gonna move on
your own.
But I also want you to be verymindful of your behavior, cause
(22:22):
there's one thing to know, butit's our behavior, and so those
are some internal factors that Iwant you to think about when it
comes to achieving your 2024financial goals.
Woo-chow, y'all getting somenuggets today.
Okay, make sure y'all share.
Okay, nuggets are being dropped, all right, so let's do a
review.
(22:43):
We talked about a lot of stufftoday, all right, we talked
about clarifying and creatingstrategies for your 2024 goals.
I'm only using the example ofincreasing your credit score.
Now I'm wondering, and y'allgonna have to let me know, and
you gonna have to let me know onthe Instagram, the podcast,
instagram page, okay, or DM meand let me know.
(23:05):
Do I need to go through severalscenarios?
Is that something that wouldhelp everyone?
Cause right now I'm only usingthe scenario of increasing your
credit score.
You know what I'm probablygonna do scenarios on the
podcast page, on the Instagrampage, probably on TikTok too.
I probably do it there.
I feel like that may bewarranted, but to review
(23:28):
everything that we've beentalking about.
We're clarifying our financialgoals so that we can get those
smart financial goals on ourvision board.
I want y'all to have some goalsand have a vision board created
by the end of this month, ifpossible, especially for your
financial goals.
Now, your vision board gonnaprobably have a whole bunch of
stuff, cause mine do, mine gotdifferent categories, but I
wanna make sure that I'm helpingyou with concentrating on the
(23:51):
financial goals.
I use the example of increasingyour credit score.
Remember, it has to be a smartgoal.
It has to be specific,measurable, achievable,
realistic and it has to have atime associated with it.
You're also going to have tolook at your financial situation
, understand where you stand,understand what you can and what
(24:12):
you can't do, and this is thething.
If you can't do this on yourown, you're gonna have to seek
help.
You're gonna have to do yourresearch, look out and seek out
assistance.
Listen to those podcasts,finding articles.
Going to the credit bureau'sfinancial education, so Equifax,
experience Transition.
Going to those websites whereit's gonna be reputable, they're
(24:34):
gonna give you good information, okay, and also, if you do need
assistance, y'all remember I ama whole financial guide out
here in the streets.
I want you to go to my website,immindfullyrichcom If you need
assistance making these goalswork for you, making them work
for your situation, making thembe more realistic for you and
(24:58):
taking that weight off yourshoulders.
Because I get it.
I pay for convenience.
I am a pay for convenience girl.
All right, if it's gonna causeme too much time, because my
time is money.
I can get more money, can't getmore time.
So if you need that type ofassistance from your girl, cause
your girl 126 episodes beengiving y'all all of the gems.
(25:18):
Okay, if you need assistance, goahead and book a discovery call
with me.
All of my discovery calls areno calls.
I don't like saying freebecause I ain't free, it's a no
cost.
Let's say it like that.
All right, because I want tomake sure that you win this year
.
I want y'all to win because I'mwinning.
Do y'all hear it in my voice?
We winning this year, all right.
(25:40):
So if you need assistance, makesure you are getting the
assistance you need.
Hit me up atwwwimmindfullyrichcom.
That is my website.
You can go to my financialguidance section to see what
that looks like.
Hit me up, all right, y'all.
I think that is it.
Let me see, did I covereverything?
(26:02):
Y'all?
Yo, that's it.
This was good, all right.
Make sure y'all continue tolisten, listen, listen, share,
share, share.
All right, my marketing teamokay, I can't do this without
y'all.
Want to make sure that we arevery clear.
Cannot do it without y'all, allright.
And so I want y'all to livelife mindfully and on purpose,
(26:23):
and until next time when I hity'all with another one.
Hello, hello and welcome back to the
Mindfully Rich podcast, yourweekly check-in that encourages
you to elevate your overallrelationship with money and
guide to building betterfinancial habits.
On each episode I'll discussreal-life situations and give
you all practical advice.
The point of this podcast is tohelp you stand your financial
lane so you won't end up broke.
(00:22):
I'm the creator and host, ginaRichie Richardson.
Now let's jump into today'sconversation.
What's up?
Y'all, we back, we back.
I know y'all was like where isshe at?
She said we back Chow.
Let me tell you what.
Okay, last week was my birthdayweek.
You know I end Capricorn seasonfor those of you who know.
(00:44):
You know I'm a Capricorn and soit was so much going on and
along with that, my voice wasplaying with me.
Now, the last episode, I had noidea real raspy Y'all.
I was too raspy, I couldn'teven talk.
I was like, uh-uh, we not evenfinna do that.
I'm not even finna.
Play y'all and have y'all wait.
We just gonna go ahead and getit out on the regular day.
(01:06):
That's what we gonna do, okay,and last Friday was my birthday.
The 16th was my sorority's,founder's day.
The 15th, mlk day.
I was at the walk.
It was so much your girl beenbooked and busy.
Okay, let's just say it likethat.
But check this out.
I'm back.
All right, let's go ahead and doa quick recap.
(01:28):
For those of y'all who don'tknow I'm back Period.
I am Make sure you go check outthe episode before this one,
just because I was talking aboutcreating vision boards for your
financial goals, having thatdaily visualization so that way
you can continue to look at your2024 financial goals.
(01:48):
Now, this is the thing aboutthose financial goals.
If you haven't already createdthat vision board, today I'm
going to talk about strategies,just because I spent a lot of
time talking about why a visionboard would be good for your
financial goals and also how tocreate that financial goal.
But I'm going to go a little bitmore into detail today just
(02:09):
because I realized I was likeyou may have put the cart before
the horse.
Now let me tell you about meand my old Sands.
Now I don't know what it is.
I was telling my best friendReesey.
I said I am in old Sands zone.
Like I've been saying a lot ofold Sands, I don't know what it
is.
I don't know if this is theintroduction to 39.
This is my introduction tobeing an elder or what, okay.
(02:31):
But I realized after listeningback to it even though a whole
bunch of y'all listened to it,okay, like I think the first day
I had like over 300 downloadsand I was like, shut up, y'all
better be up in here listening.
But what I wanted to do todaywas kind of rewind a little bit
focus.
Those financial goals bringclarity to it and also
(02:55):
strategies to it.
All right, so let's go ahead andjump into today's topic.
So we're going to do thisthrough our mindful money moment
.
Lots of you who have beenrocking with me for forever
Y'all know what this is.
For those of you that are new,I normally will take a topic.
I used to take topics directlyfrom songs that I like, some
(03:17):
titles that I would like, butciao, bye, bye, bye.
I've been doing this for a longtime now.
I think this is episode 126.
One enough songs, okay, andeverything ain't gonna go with
everything.
So I just had to get used tothat.
But still know your girl lovemusic, all right, and so let's
go ahead and jump into ourmindful money moment, where
we're going to talk about andclarify some strategies to help
(03:40):
you with reaching your 2024financial goals.
All right, capricorn season hascome to an end and I believe
last episode and this is justthe fact during Capricorn season
, there's a lot of resolutionsthat are being put out there.
People are starting over,people are making intentions for
the year.
They are saying I'm about to dothis, this is going to be my
(04:03):
year, because it's the beginningof the year, that can also feel
a bit stressful to put onyourself All of the things that
you're going to do.
I realized that I needed tostart this episode, probably in
November because December is sobusy, but probably in November.
So next year, we're going tostart talking about this stuff
in November, because I get howstressful that is People trying
(04:24):
to hurry up and create goalsbefore the end of January and
y'all.
This month has went so quickly.
I don't know what is going on,but all I know is that this year
I want y'all to win.
I got a different fight in methis year.
I don't know what's going on,but I want you to win.
I'm going to win.
We just going to be winning all2024.
(04:46):
And so I know that there areaspirations that you have for
your life, that you want foryour life, and I want to be that
very financial godmother foryou to help you with creating
those 2024 financial aspirationsthat you have for your life and
also giving you thosestrategies that can help you,
(05:07):
because it's nothing to just say, oh I want to do this right,
but how are you going to do that?
Like I'm going to give y'all anexample, take you into my world
.
All right.
This year I told myself that Iwant to be healthier mind, body
and spirit.
Also want to lose weight.
Okay, I'm getting older.
Metabolism ain't metabolizinglike it used to.
(05:28):
This is a good 200 child, okay,and so I know that those are
the things I want to do.
Lots of people want to do that,right, but what am I going to
do to reach that?
It's not hard.
It's not like everybody doesn'thave knowledge on what does it
mean to eat healthier?
Eat healthier foods, right.
Lower your lower your carbintake, lower your sugar intake.
(05:49):
You know.
You know there are things thatyou could do off top without
even having to research it.
I know that if I want to loseweight, I probably need to
exercise and eating better,eating healthier.
It's going to be one of thoseways that's going to help me.
So this is the thing, right,although I know those things,
(06:09):
how am I going to stay motivatedto that?
What are my strategies to dothat?
Just because, if, if I couldhave just did it, I would have
done it right.
So that's the reason why lastweek I was saying keeping it in
front of you, having that visionboard, but also the strategy
part, is going to be veryimportant.
So, for this particular example, how I'm going to eat healthier
(06:30):
, how I'm going to lose weight,I'm going to walk 10,000 steps
every day, rain permitting,child, because I don't know
what's going on out here, therain, just do not want me to be
great.
Okay, I'm like look, I got awhole goal to make you, in my
way, rain, all right.
So 10,000 steps is the goal.
I'm also recording the foodsthat I eat into my fitness pal.
(06:51):
You're probably wondering whatdoes that do?
So, with me recording the foodsin my fitness pal, I'm getting
a chance to see how manycalories is each food that I'm
eating, and I'm being honest andI'm like, ooh.
So it's funny because I startedoff recording the foods as I
would, you know, just regularlyeat food, just saying I'm going
(07:11):
to record it, but in my fitnesspal.
It gives you the opportunity toput in what your goal is Are
you trying to lose weight?
And it tells you how manycalories you need.
So if I'm putting in food forthe day and then I see I'm over
those calories, it's making methink twice.
So I'm doing actions to assistme with this goal.
(07:32):
I get a chance to keep it infront of me.
Those are strategies.
Using my fitness pal walking10,000 steps, I'm also yeah, I'm
trying.
Okay, and I had the pause here.
Okay, I'm trying to ride thepeloton five times a week up to
a 30 minute ride.
Okay, I'm trying.
I have the peloton app.
(07:55):
That is reminding me you saidfive times, girl, I got my
fitness power.
That is reminding me you didn'tput your food in.
I also have my vision boardthat has my health goals on it.
That's showing me.
Hey, girl, you said you walking10,000 steps.
You said you're doing this.
So all of those things arecreated to be strategies to help
(08:15):
me with achieving that goal.
Now, I gave you that longexample telling you about me
because I want to use that as anexample as we move into your
financial goals and creating thestrategies that you're going to
need so that you can achievethem.
All right.
So where we at, I'm trying tomake sure, okay, I remember
(08:36):
where I was going, because Iloosely wrote notes for this,
just because I don't know ify'all hear me, I'm fired up
about this one.
Okay, this is, this is my thing.
All right, this is what I liketo do, all right.
And so, going back to lastweek's example that I use when I
was using your financial goals,when creating your financial
goals, I'm using a popular goaljust because I'm also a
financial guide.
(08:57):
I like to call myself a guideversus a coach, because I'm both
of those things.
I've been educating people ontheir finances for the last 16
years, and so I use the goal ofincreasing your credit score
because that is so popular.
Lots of people have creditcentered goals, and increasing
your score is one of the top.
(09:18):
Okay, probably literally 90% ofmy clients.
That's what they're trying todo right now, and so, with
knowing that that's a goal thatyou want to reach, what is going
to be that strategy?
But this is the thing.
Before we even create astrategy for that, what I
normally do with my clients isif you have a goal to increase
(09:39):
your credit score.
How much do you want toincrease said credit score?
Are you sitting at a 590 rightnow and you're trying to get to
700?
Are you sitting at a 700 andyou're trying to get to a 50?
That's going to be importantbecause it's one thing just to
say I want to increase my creditscore.
(10:01):
We, as people I'm realizing thisbecause I'm taking some classes
on consumer behavior, thescience behind why we act the
way that we act we, as people,need to have very specific goals
, which is where smart goalscomes in, because you can say,
at 590, I want to increase myscore.
(10:21):
Say you increase your score to600.
You did what you said you wantto do, but you may be thinking
in your head, but I didn'tincrease it to this, but you
didn't say that initially.
So you have to make sure thatyou have that.
What's the word?
Did you all see how it almostjumped out there?
(10:42):
Let's just say specific.
I was about to sayspecification Maybe that is the
word, who knows.
Whatever Specific, we justgoing to stick there.
Ok, if I'm using this as anexample, but I know that this is
in actual financial goal for alot of people, if raising your
credit score is your financialgoal for 2024,.
(11:07):
Make sure that you get realspecific.
We're going to go, we're goingto talk talking smart goal
language.
You got to get very specificand say I want to increase my
score 50 points.
I want to increase my score 75points, 100 points, 200 points.
But this is the thing.
As you are being specific andsaying, all right, I want to
(11:29):
increase my score by this amountof points, it also has to be
measurable.
How are we going to measurethat Right?
How are we going to measure ifyou are increasing your score?
All right, we know that thereare tools for us to measure if
your score is increasing.
Checking your credit report Ialways have my clients go to
experience, download theexperience app.
(11:50):
You can also review your creditreport and score on experience
website for free.
They give you a new score everymonth.
They monitor throughout themonth.
You can always see where you'reat.
I like that just because it'san actual credit bureau.
Remember, there's threeexperience, equifax and TransUan
.
And I just like experience.
I like the way their reportsread.
(12:11):
I like the information thatthey give consumers.
Amazing, keep going.
Experience All right, you canalso check on Equifax.
Equifax did I think they juststarted feeling sorry because
everybody information is gettinghacked.
So they felt sorry and allowpeople to start reviewing their
credit reports and scores ontheir website.
I don't know about the app.
(12:33):
You have to check it out Now.
Transuan I plan with y'all.
Transuan is like look, youcan't get it for free over here.
We still got bills to pay.
Okay, I think TransUan islocated in Chicago too, so that
makes sense.
That's how we all we like yougot to pay.
We're going to come up, okay.
So TransUan you can't look atfor free.
(12:56):
But there are other places whereyou can look at your TransUan
report and score, like creditkarma.
When people are going to creditkarma, you have two bureaus on
there.
You have Equifax and TransUanand so you can see your credit
report and you can see yourscore.
But those are Vantage scoresbecause there's a thing called
your FICO scores, which aregoing to be the scores normally
(13:17):
that your credit bureaus aregoing to be using.
So like, if you go to get aloan, they're looking at FICO
scores, but there's a thingcalled Vantage scores that came
out after FICO and it kind ofincreases your score a little
bit.
It don't be the real score, butthis is the thing.
You can still go to creditkarma.
Look at the report.
It's going to have a score, butjust know it's not your FICO
score.
That's the best way I could putthat.
(13:38):
You probably got a whole bunchof questions about that.
You probably need to hit up mywebsite so that you can be one
of my guidance clients.
Okay, can go into all thatright now, but anyways, fico
scores, vantage scores also,just say it where you could
check both your credit reportand check your score, because
when you set the goal of wantingto increase your credit score,
(14:00):
you have to make sure that youare measuring it and seeing.
So, with my clients, we'relooking monthly.
Sometimes we're looking twice amonth so that we can see where
were you at on January 1st,where are we at on January 15th?
Where are you at on January31st?
Where are you at February 1st?
You get it.
So that way we can measure it.
Okay, so still talking in smartgoals, since in the sense of
(14:24):
increasing your credit score.
So, moving to the, what are theSMA achievable?
Yes, setting the goal is thescore that you want to reach.
Is it achievable, right?
So I just said, if you have a590 and you set the.
You set a goal of I want toincrease my score 200 points.
Okay, so you want to go to 790.
(14:46):
Now I'm not going to tell you790 is not possible.
790 going to be a stretch goalbecause you're going to have to
do some things so that you canget the 790 that you want.
Okay, I was about to gosomewhere that was going to be
so funny, but we serious, rightnow that's going to be I'm
(15:06):
trying to use a good word it'sgoing to be more challenging to
reach a 200 point increase from590.
Then it would be a 75.
Or a hundred score increase.
Just because, how realistic isthat?
Okay, that's going to be the R.
How realistic is that?
Because we don't want to setgoals that we not going to
(15:29):
achieve.
All right, let's just be forreal.
All right, you can set the.
You can set the standard and sayfor my goal, I want to increase
my score 200 points, dependingon your credit report.
Some people can do that becausethey credit report may have a
lot of issues.
Challenges is the word we'regoing to use here.
They may have not been payingtheir bills on time.
(15:51):
There may be a lot of creditcard debt that they can pay down
where that type of scoreincrease is possible.
Now there are people like myclients who want to purchase
houses.
They're paying their bills ontime.
They don't have a letter creditcard debt.
A 200 point increase is goingto be harder for them to reach
because they're already doingthe right thing.
(16:12):
So now we have to figure outwhat are healthy ways to build
and establish new credit to helpput that in your total credit
mix to increase your score.
So you get what I'm saying.
Everybody's situation is goingto be different.
That's the thing that I alwaysI can't explain enough because
(16:33):
it's like a lot of people thinkoh, I see this one person.
They said do this, that has towork.
Everybody's situation isdifferent.
That's the reason why there isa need for financial guides and
coaches like myself to assistindividuals with what it looks
like for you.
What Bobby's sue did over hereain't gonna work for Becky's
suit.
(16:53):
Okay, because we all havedifferent credit needs.
We pay different, we keepdifferent amount of debts.
We are not the same, but lotsof people like to take
information, look at it as if itis just one.
It is in one case.
This is the only thing that youcan do.
No, just like there are severalways to lose weight, there are
(17:15):
several ways to reach yourfinancial goal and, using the
same example of increasing acredit score, there are several
ways that you can do that.
But your case may be differentfrom mine or someone else's, so
you have to understandstrategies as a whole,
understand where you're at,understand where you stand
(17:38):
within your income situation,your expenses, everything in
order to know what strategiesare going to be realistic enough
for you to be able to reachyour goal.
All right, and get into the T.
I got through that pretty good.
Okay, and get to the T.
We got to put a time on it.
All right.
Anytime I'm working with myclients, look, we got to put a
time on it.
So that way we can know in thenext three months, in the next
(18:00):
six months.
Three to six months are verygood goals, even nine months,
all right.
I like to most of my clientsshort term, but some of them
stay on.
I'm going to say three to ninemonths on average, just because
some people they get the answerto what it is that they wanted
to know and boom, I'm out.
I'm cool.
Then they back when they haveanother one.
(18:22):
That's cool because it happenslike that.
It's kind of like therapy.
Right now I'm in therapybecause, baby, I need therapy
right now, okay, okay, once Iget to the uh-huh, the final
uh-huh, I don't know how longI'm going to stay, but right now
I need every single bit of itevery week.
Okay, that's what we do aspeople, especially when you have
(18:44):
goals that you want to achieve.
I realized I was stuck in mylife.
I needed a therapist.
I needed to get through thisstuck portion of my life.
Y'all probably hear how I sounddown.
You go back some episodes.
Your girl wasn't sounding likethis.
That's because I am fiveappointments in on therapy.
Okay, I was stuck and I'mwilling to pay when I'm stuck.
(19:07):
Okay, we got to get me out ofstuck because your girl got to
be back.
And so that's just like withfinancial coaches, financial
guys, things like that,financial educators getting the
assistance that you need,whether that's listening to
podcasts, doing your research,going on the YouTube, going and
looking at websites, getting theeducation you need, actually
paying for someone to be yourculture or your guide.
(19:30):
You do what you need to do sothat way you can see what fits
your situation to get you there.
Okay, I've made a lot ofmistakes.
I spent the whole year knowingI need a therapy and then didn't
get it into December, okay.
So just giving you an example.
But going back to the goals,making sure that that goal is a
smart goal I've went througheach letter.
(19:51):
So it has to be specific,measurable, achievable,
realistic and it has to have atimeframe that you are putting
on it.
All right, this is the thing isone thing when we say, all
right, I got all that.
I know I got my smart goaltogether, my smart financial
goal.
I've created it.
This is what it is.
It's ready to go on my visionboard.
(20:11):
Got it Okay?
One more thing I want to makesure that we we understand, in
creating our goals, we alwaysknow life gone, life.
There are going to be factors,especially financial, especially
our internal factors, that wesomewhat have control over, that
are going to affect ourfinances throughout the year.
(20:34):
So I want you to be mindful ofthat.
So, some internal factors thatcould affect you reaching your
financial goals, your smartfinancial goals of 2024, your
income.
Whether your income is up,whether your income is down,
that is somewhat in your control.
What are you going to do?
Is your income at a place whereyou can achieve the smart goal
(20:57):
that you need to achieve?
All right, are your expensesintact?
That is something that wesomewhat can control.
There are things that we need.
There are things that we haveperceived needs for.
There are things that we had toget just because of things
coming up.
I understand that, all right.
So your expenses, your debtsare those going to be in a place
?
Those are things.
Those are questions that you'regoing to have to ask yourself,
(21:18):
just because, if you have to putmoney into trying to achieve
your goal, are you going to beable to still live on on the
other side of that?
Okay?
So I want you to think aboutthose internal factors Also.
I put this down just because Ithink that this is important Our
(21:39):
knowledge of financial concepts.
Now, while it's good to haveknowledge right, studies show
that, although even when we haveknowledge, 80% of our Financial
spending, what we do with ourmoney, is behavior.
It's associated with ourbehavior, not with knowledge.
(22:01):
So I do want you to know, I dowant you to be students.
I want you to listen to theMindfully Rich podcast so that
you can stay mindful andintentional.
I want you to find otherresources that talk about money,
so that you can take thoseperspectives yourself and you
can create what you're gonna doand how you're gonna move on
your own.
But I also want you to be verymindful of your behavior, cause
(22:22):
there's one thing to know, butit's our behavior, and so those
are some internal factors that Iwant you to think about when it
comes to achieving your 2024financial goals.
Woo-chow, y'all getting somenuggets today.
Okay, make sure y'all share.
Okay, nuggets are being dropped, all right, so let's do a
review.
(22:43):
We talked about a lot of stufftoday, all right, we talked
about clarifying and creatingstrategies for your 2024 goals.
I'm only using the example ofincreasing your credit score.
Now I'm wondering, and y'allgonna have to let me know, and
you gonna have to let me know onthe Instagram, the podcast,
instagram page, okay, or DM meand let me know.
(23:05):
Do I need to go through severalscenarios?
Is that something that wouldhelp everyone?
Cause right now I'm only usingthe scenario of increasing your
credit score.
You know what I'm probablygonna do scenarios on the
podcast page, on the Instagrampage, probably on TikTok too.
I probably do it there.
I feel like that may bewarranted, but to review
(23:28):
everything that we've beentalking about.
We're clarifying our financialgoals so that we can get those
smart financial goals on ourvision board.
I want y'all to have some goalsand have a vision board created
by the end of this month, ifpossible, especially for your
financial goals.
Now, your vision board gonnaprobably have a whole bunch of
stuff, cause mine do, mine gotdifferent categories, but I
wanna make sure that I'm helpingyou with concentrating on the
(23:51):
financial goals.
I use the example of increasingyour credit score.
Remember, it has to be a smartgoal.
It has to be specific,measurable, achievable,
realistic and it has to have atime associated with it.
You're also going to have tolook at your financial situation
, understand where you stand,understand what you can and what
(24:12):
you can't do, and this is thething.
If you can't do this on yourown, you're gonna have to seek
help.
You're gonna have to do yourresearch, look out and seek out
assistance.
Listen to those podcasts,finding articles.
Going to the credit bureau'sfinancial education, so Equifax,
experience Transition.
Going to those websites whereit's gonna be reputable, they're
(24:34):
gonna give you good information, okay, and also, if you do need
assistance, y'all remember I ama whole financial guide out
here in the streets.
I want you to go to my website,immindfullyrichcom If you need
assistance making these goalswork for you, making them work
for your situation, making thembe more realistic for you and
(24:58):
taking that weight off yourshoulders.
Because I get it.
I pay for convenience.
I am a pay for convenience girl.
All right, if it's gonna causeme too much time, because my
time is money.
I can get more money, can't getmore time.
So if you need that type ofassistance from your girl, cause
your girl 126 episodes beengiving y'all all of the gems.
(25:18):
Okay, if you need assistance, goahead and book a discovery call
with me.
All of my discovery calls areno calls.
I don't like saying freebecause I ain't free, it's a no
cost.
Let's say it like that.
All right, because I want tomake sure that you win this year
.
I want y'all to win because I'mwinning.
Do y'all hear it in my voice?
We winning this year, all right.
(25:40):
So if you need assistance, makesure you are getting the
assistance you need.
Hit me up atwwwimmindfullyrichcom.
That is my website.
You can go to my financialguidance section to see what
that looks like.
Hit me up, all right, y'all.
I think that is it.
Let me see, did I covereverything?
(26:02):
Y'all?
Yo, that's it.
This was good, all right.
Make sure y'all continue tolisten, listen, listen, share,
share, share.
All right, my marketing teamokay, I can't do this without
y'all.
Want to make sure that we arevery clear.
Cannot do it without y'all, allright.
And so I want y'all to livelife mindfully and on purpose,
(26:23):
and until next time when I hity'all with another one.
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