September 9, 2024 • 24 mins
🎙 Welcome Back to Season 4 of The Mindfully Rich Podcast! 🎙
New Series: "From Six Figures to Scraping By Rebuilding After Financial Distress"
This season, we're diving deep into the emotional and practical challenges of transitioning from a high income to financial hardship and the journey of finding your way back to stability. Each episode is packed with actionable tips and real-life advice to help you rebuild after financial setbacks.
Episode 3: "The Climb Back: Restoring Your Income"
In today’s episode, we focus on the recovery phase—how to restore your financial health and rebuild towards a six-figure income after experiencing financial distress. It's not just about getting back to where you were but about creating stronger, more resilient finances for the future. Here's what we'll cover:
🔑 Tip 1: Rebuild Your Income Streams Whether it's finding a new job, starting a side hustle, or launching a business, diversifying your income is key to regaining financial stability.
🔑 Tip 2: Strengthen Your Financial Habits Develop better budgeting, saving, and investing habits to protect you against future setbacks.
🔑 Tip 3: Embrace the Long Game. Understand that rebuilding your finances is a marathon, not a sprint. Be patient, stay focused, and keep pushing forward.
💬 Closing Thought: The journey back from financial distress is challenging, but it's also an opportunity to build stronger, more resilient financial habits that will serve you for years to come. Every step forward is a step towards financial freedom—so keep climbing!
📲 Connect with Me If you're ready to take your finances to the next level in 2024, visit my website at www.iammindfullyrich.com to schedule a complimentary consultation. Let's rise together!
📢 Follow the Podcast Instagram: @mindfully_rich_podcast
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Hello, hello and welcome back to the Mindfully
Rich Podcast, your weekly lookat life in finances with a twist
, where we talk about improvingyour overall relationship with
money and building betterfinancial habits.
On each episode, I'll discussreal life situations and give
y'all practical advice.
The point of this podcast is tohelp you stay in your financial
(00:22):
lane so you won't end up broke.
I'm the creator and host, theGina Ritchie Richardson.
Now let's jump into today'sconversation.
What's up y'all?
What's up we back, we back, yes, and three weeks in a row, okay
, might I add.
Come on, okay, the one thing Ican say since I am back, I've
(00:45):
been wanting to deviate, justbecause that's just how my brain
works.
I know that we're in thisseries, but my brain has been
like, ooh, I want to do this,ooh, I want to do that, because
I didn't get my mind back, Ididn't get my creativity back.
Your girl is back, so I feelgood.
So, of course, y'all know gottaalways start off with gratitude
(01:09):
.
Y'all have been listening,listening, listening, like I
always ask y'all to do, and oh,my goodness, like we got new
cities, new countries.
It's been like a thing.
I've been loving it and soalways gotta start with
gratitude.
Gotta start graciously thankingy'all.
Thank you so much for being alistener.
Thank you so much for all ofthe shares, thank you so much
(01:29):
for bringing this podcast intoyour circles.
For those of y'all that do that, for those of y'all that ain't
y'all already know, okay, I toldy'all team of one, okay, share
this thing far and wide.
We need everybody to hear it,okay.
So, thank you once again.
Appreciate all the listens Eversince I've jumped back y'all
didn't jump back All of the DMs,all of just the like yes, I'm
(01:52):
happy to be back, I want to stayback.
So, not too many yet, okay.
Not too much yet, okay.
I want to make sure that thatconsistency builds again.
I'm also going to have someadvertising.
What is it calledAdvertisements availability?
Yes, let's call it thatAdvertisement availability
coming up next week.
(02:13):
I should have more informationon that for those of y'all that
are interested, because yourgirl can sell grass.
Let me tell you what anywhere Igo and I love it, the people
who know me know I'm going totalk about it, Okay, and so I
particularly like to alignmyself with things that I would
particularly like as well.
So we definitely will get intoall of the advertisement
(02:37):
availabilities that are comingup for y'all, so stay tuned for
that.
Okay, and so let's go ahead andjump back into it.
So for those of y'all that didnot listen to last week's
episode oh my God, it was a longone, but it was so good when I
tell y'all it was good, like Iwas very patient in this, so I
was very kind, very empathetic,and I hate that that trend is
(02:59):
out right now just because Italk like this anyway, and so I
just didn't say the very demurepart, but the episode was really
good.
I was very patient in thisepisode and reason being, I've
been through it In a lot ofaspects.
(03:20):
I'm going through it and Iwanted to make sure that I was
speaking to that other personout there who also is going
through it, and this episode isgoing to live forever, so one
day it's going to be speaking tosomebody else, and so that's
the thing that I love aboutthese episodes and one thing
that I've noticed the olderthese episodes get, the more
(03:41):
people listen.
So I love that.
This is something that is nowgoing to be history and I'm
going to be the moved on fromthis and somebody going to be
just starting on this, so thatmakes me feel so good.
And the episode title wasSurviving on Savings.
The Making it Last episode,y'all, it was just oh, it was
just everything.
There was so many aspects ofthat I'm getting chills just
(04:07):
thinking about it so manyaspects of that episode where I
was like, wow, you are reallyreleasing some things here.
This podcast is so therapeuticfor me because, even though I'm
not saying the full story,getting a chance to just finally
say it and to finally feelheard on it Not in a way where I
needed to sit down with myfriends and feel heard or
(04:29):
anything like that because myfriends are aware, but it was a
different type of therapy that Ilove being able to do here on
this podcast.
So if you haven't checked outthat episode after this one,
make sure you go ahead head onover there.
All right, and don't forget,the podcast is streaming on all
streaming platforms.
Okay, all of them.
It's not on YouTube yet.
(04:49):
Y'all, I'm getting there.
I want to add the visual, butit's like I'm feeling like I
might only put the audio onYouTube.
I'm not sure yet.
Y'all DM me and let me knowwhat y'all think, because it's
only me and I'm just like.
Should I do it?
Maybe I should, I don't know.
I think I will, but I don'tknow.
I got to think about some more.
Anyways, okay, and so I justrealized I didn't tell y'all
(05:13):
exactly what last week's episodewas, just in case y'all wanted
to know it.
Okay, all right, we talkedabout surviving on savings when
income stops.
What does that look like?
Some practical realities ofstretching your money and your
essential needs.
Y'all, it was good.
Okay, I just went back realquick, just because I wanted to
make sure that y'all knew thatit was good.
(05:34):
So, after this episode, goahead and go back.
Now we can transition and moveinto our mindful money moment.
And so, y'all, I actually had asong for today, but I don't
really like this song, so that'sthe reason why I ain't really
put no song attached to this Forthe advertisements on Instagram
and stuff.
I might do it.
Okay, because y'all remember myleast song is the climb.
(05:56):
I think it was called Just theClimb, but as the person that I
am for a song, I normally callit whatever the chorus is.
But Miley has a song calledit's the Climb and I named
today's episode the Climb Back.
Restoring your Financial.
Nope.
I changed the title the notesthat I was just looking at was
(06:18):
wrong.
It's the climb back.
Restoring your income.
That's what it is.
I took financial out.
I use financial in so manyaspects of my life, y'all, that
I was like I need to use anotherword, and so I had to call it
something else.
All right, so restoring yourincome, think back.
I've been telling a story thiswhole time.
So, going from the firstepisode talking about the fall
(06:42):
from high income six figures,whatever, that looks like, two
scraping by, then next survivingon saving.
So all of this is flowing andit's telling a story, and so
that's the reason why we're nowat how do we make that climb
back?
How do we get back to that highincome earning capacity?
How do we get back to sixfigures?
(07:03):
How do we surpass the figuresthat we were making before?
Because look at it like thisTrouble can't last always.
It just can't.
All right, we got to getourselves up at some point.
The sunshine is going to comeout at some point.
The favor that we're lookingfor is going to happen at some
point.
The seeds that we were plantingwhile we were in survival mode,
(07:27):
they're going to startsprouting.
So that's why we're talkingabout the climb back.
How do we restore our incomeeven better than we did the
first time, and so I'm always aproponent of multiple streams of
income.
Whatever streams you choose,that's up to you, but when we're
talking about rebuilding ourincome streams, a lot of
(07:50):
people's number one stream ofincome is going to be from their
job.
When you're on W-2, when youwork for an employer, that is
one of the top income streamsthat a lot of people have, and
so let's talk about that for alittle bit.
I don't know if y'all are onTikTok.
I've been looking at a lot ofvideos, and looking at a lot of
(08:12):
HR professional type videoswhere they're talking about the
market that we're in right nowtype videos where they're
talking about the market thatwe're in right now, how there
are so many people applying forone job.
I don't know if y'all rememberit was back in like 2020 or 2021
.
It was like the end of 2020 atthat, where everybody was
quitting their jobs, people wereleaving, and so there were so
(08:33):
many jobs available at that time.
But right now, the market thatwe in no, that's not the same
thing.
We ain't even in that youprobably got about up to 500
people all competing for thesame job.
So if you are looking for sometype of job in corporate or
(08:54):
wherever this job will be,wherever your career field is,
at those job opportunities theyare slim right now.
This is not to say that youcan't get one because, baby, you
blessed, okay.
You listened to the MindfullyRich podcast Okay, you blessed,
and you are fearfully made.
All right, god won't putnothing on you that you can't
bear.
You going to be able to get thejob, okay.
(09:15):
But let's just say maybe it maytake a little longer because
it's taking a long time.
I've been seeing the successstories of people saying they
applied for 200 plus jobs andfinally got the job, or they
finally got a job after sixmonths, a year.
There are some long time framesthat I've seen.
(09:38):
This is not being said todiscourage you.
I am always saying this to bevery real, but everybody is
different and so when you'retalking about that main source
of income for a lot of people,with it being a job, if you're
talking about getting a jobsomewhere, you got to update
your resume.
Updating your resume, child, goon TikTok.
(10:00):
I need y'all to go on TikTok soy'all can see these people who
be talking about resumes.
They be talking magic.
Talk to me right now becauseI'm like wow, I never knew that
I needed to do all of thesethings.
It feels like you're jumpingthrough hoops but because of the
job market, that we in theseemployers ain't got time to be
sitting there sifting through500 and something applications.
(10:22):
They looking for keywords, theylooking for impact, they
looking for all of these thingsthat you have done that can
stand out from the rest, and ifyour resume not doing that right
now, you going to get leftbehind.
I just told you everybody andtheir mama is looking for a job
and they may be looking for thesame job that you're looking for
.
So you got to come correct.
(10:43):
I don't know if I talked aboutthis in one of the episodes I
might have, but I got to talkabout it again just in case.
When it comes to your resume,chatgpt has been like my best
friend.
Whether it's good, bad,indifferent, it feels like it
works.
Putting your resume intoChatGPT and ChatGPT is free.
Putting your resume in there,letting ChatGPT know this is the
(11:06):
type of job that I'm applyingfor, letting ChatGPT see the
description of the actual rolethat you're applying for and
comparing it to your resume, soit can make those things in your
resume pop out.
It's not to add extra to you.
It is to make the things thatyou have pop out, that you've
already experienced and done,that you already have listed,
(11:28):
make it pop.
So on your resume, when anemployer, when a recruiter, is
looking at it, they'll be ableto see those things and not all
of the fluff.
So when you're looking for thatjob number one, I'm going to
tell you make sure that you getyour resume redone.
Redone meaning you can take itthrough ChatGPT.
There are lots of resume writersout there On TikTok.
(11:49):
I had no idea that it was somany and the amount that they
are charging.
I need to go back and look atmy prices because I said, how
about this A resume?
But I get it because if you getthe job, if you get the high
earning job, you get the sixfigure job that you want.
It was worth every single dime.
(12:10):
So I want y'all to take a look,look at your resumes.
Are they old and raggedy?
What you going to do so thatyou can get yourself back up?
Because employer income W-2income, as I like to call it
that's going to be a lot ofpeople's number one, main source
of their income.
So you want to look at yourresume because if you're
(12:31):
applying for a job, you needthat thing to be updated.
It need to be the Cadillac.
I don't even know what's thebig card now, cause it's like
when, normally, when youmentioned it like the best of
something, people normally wouldsay Cadillac.
That's why you got Cadillacmargaritas.
But you need your resume to bewhatever that best car is.
I'm going to still say theCadillac, the Cadillac of all
(12:52):
resumes.
So when they looking ateverybody else's, they'd be like
, ah, only bring me this.
You hear that?
Okay, all right.
So getting your resume updated.
There are other streams ofincome.
There are lots of people.
Now, I know a lot of people liketo say side hustles.
But a lot of people side hustle, be they business for real, the
hobby that they're doing.
That is a business.
(13:13):
I know a lot of people like tosay your little business, uh-uh,
now it's time to make it bigbusiness.
Do you hear me?
Whatever that little businessis that people been calling
little business?
Do you hear me?
Whatever that little businessis that people been calling
little?
Show them that it's bigbusiness.
Get on your Zoom.
It's time for you to really putin the work in that little
business, because we making abig business now.
We want people to startnoticing and talking.
(13:34):
What is that side hustle?
What is that hobby that you'redoing that can be made into big
business?
I believe in the last episode Iwas talking about there are
people out there who get paid tocuddle with people, to hug
people, to walk with them Y'allpeople are making money doing a
lot of things.
I'm not telling you to do that.
(13:56):
I am talking to you about yourside hustle, about the business
that you've been thinking aboutbuilding, or the business that
you've been thinking aboutbuilding or the business that
you're already doing.
That's in the little stage.
That need to be made big so youcan start making real money
from it.
We need multiple streams ofincome y'all.
We are not in a day and timewhere it's multiple streams of
(14:18):
income is a luxury.
No, it's a necessity.
We see what's going on in theworld.
We see that inflation iscontinuing to rise.
We see that the job market seema little iffy.
So when you get into one, wecan't just be changing like that
at this particular moment justbecause I'm a millennial child.
Millennials started the trendof every two, three years.
(14:39):
Okay, let me tell you whatbounce, bounce, bounce.
That's what we did.
All right, but we, in a timewhere that may not be feasible
because the jobs aren't comingas quick as they used to, it can
still be done.
Don't leave the first onebefore you go to the second
window.
Okay, it could be done, butit's not as easy as it used to
(15:02):
be.
So, for that side hustle, forthat hobby that you are building
into a business, how can youmake it bigger?
What does it need?
What research do you need to do?
Once again, I'm going on aheadand say going on to the TikTok.
The TikTok is free.
Let me tell you what.
Chatgpt is also free.
(15:23):
Help you with your strategicplan.
Help you with getting thatbusiness plan together so that
you can start elevating it towhere it needs to be, so you can
start making real money andgetting real strategic with it.
How much money do you want tomake from it each month?
How much money do you need?
This the thing, y'all.
Whenever we going through thescraping by phase, that's the
(15:43):
time that taught you what it isthat you need now.
So, whether it's an employerthat you get a job with and you
start making a W-2 income.
It's a side hustle that you nowhave turned into a real big
business for yourself.
Whatever that extra stream is,you are being strategic this
time.
I need this amount of moneyfrom this job.
I need this amount of moneyfrom this job.
I need this amount of moneyfrom my business or, if it's all
(16:06):
business, for my entrepreneursout there.
If you are just like you knowwhat, I'm just going to build my
business that I got bigger.
I'm going to bring in all themoney, being very strategic,
understanding how much money doI need after taxes?
Just because I'm going toalways bring the taxes element
in there, just in case, justbecause, for my entrepreneurs
out there, when it comes to usmaking money, when you go to
(16:31):
apply for loans like right now,it's house time Most of the
people that are my clientsthey're buying houses.
They're showing income, andbuying a house is an income game
.
That's going to be a wholenother episode.
Okay, but when you are trying toprove that income, you have to
claim it, so you have to showthat on your tax returns.
(16:53):
I'm a DBA, so, with a DBA, Ihave a Schedule C.
I have a profit and lossstatement with my taxes.
That's how your business showsthat it's actually making money.
So you want to know how muchwould I pay in taxes if I made
this amount of money.
Chatgpt is free, the internetis free, you can look that up.
(17:13):
Just because I made $40,000this year doesn't mean that I
take away $40,000, especially ifI'm going by the rules, if I'm
paying taxes.
So you need to know what thosenumbers look like.
Everybody, when I'm talking toyou about rebuilding these
income streams we buildingstronger this time, we building
better this time and we got toknow the numbers.
We got to be very intentional,we got to be very mindful when
(17:36):
it comes to us building thisincome so that we can make it
last, so that we can keep it.
Because this is the thing wecoming out of survival mode, we
want the best, we going to themountaintop this time, okay.
So just to kind of go back overall of those things, we're
talking about rebuilding ourincome streams after we've been
(17:57):
living on savings, after we'vebeen scraping by, knowing how
much we need to make.
That's going to be veryimportant.
That means that going back toit your budget, you're going to
need to make sure everything istight and right.
You know what your incomefactors are, what the income
factors need to be.
Don't stop till you get themthere.
I don't want you underemployed,I don't want you under the
(18:21):
amount of money that you need tomake because we just got
through scraping by, we just gotthrough living off our savings.
If something ever were tohappen again, we need to be able
to build higher so that way wecan still put away for savings
too, so not just our expenses.
We want to be able to get there, but we got to get there first
by building up our income.
And so, since last week'sepisode was so long, I wanted to
(18:46):
make sure that I onlyconcentrated on talking about
those income streams, justbecause that's enough.
I want to make sure that Iain't taking a moment, because I
understand, especially comingoff of surviving on savings
y'all.
That is hard to do, that is ahard task to do, and I
understand it very well.
That's the reason why it'srebuilding time.
(19:06):
We about to rebuild this income.
How can we do that?
Sky's the limit.
Let me give y'all theinspiration for hope.
I realized that I had to breakup with my mind.
My mind was telling me all ofthe things that I couldn't do.
My mind was not reminding methat I am more than a conqueror,
that the Lord would never putmore on me than I can bear, that
(19:27):
I can do all things throughChrist.
That strengthens me.
I wasn't remembering any ofthose things.
What my mind was telling me wasI wasn't going to make it, I
wasn't going to get back towhere I was.
I'm not going to get back towhere I was.
It was bringing me down.
It was bringing worry into mymind.
It was bringing stress into mymind, and when all of those
(19:50):
things are in my mind, it is nowa part of my heart.
I had to remember whose I was.
I had to regain my confidenceso that I can feel good enough
to put myself out there, to getmyself back, and I want you to
do that today.
If you need to break up withyour mind, because your mind is
(20:11):
telling you that you can't havewhat you know God done, put in
your heart and told you what youcan have, you got to break up
with your mind.
You got to start feedingyourself with some inspiration,
feeding yourself with somepositivity, feeding yourself
with some positivity so that youcan build that confidence back
up, because it's time for us toput ourselves back out there.
It's time for us to get out,put our boxing gloves on so we
(20:33):
can come here and take somethingokay, because we ain't leaving
here without something.
All right, and that somethingthat we talking about is the
income.
We are raising our income inthis episode.
Y'all.
We are raising our income rightnow in life for those people
who are doing that and guesswhat?
We're going to do it.
But you got to build yourconfidence back up so that you
(20:55):
can get there, and I believe inyou.
I know that you're going to doit.
I know that you are now, afterlistening to this episode, you
are going to be able to movewith confidence.
You are going to be able tomove into those opportunities.
Open doors are happening foryou right now, your divine
connections to the jobs and theincomes that you want.
(21:15):
It is happening right now.
Child, let me tell you what yourgirl is preaching today.
All right, I wasn't evenintending on that.
I was just like just make thema cute little episode, get them
pumped up, get them in apositive mode so that they can
go out there and get what it isthat they need, because you
deserve it.
But you got to be plantingthose seeds.
(21:36):
Faith with works that's what Ialways believe in and I can
admit my works had slack for awhile because my faith was small
.
But build up that faith.
Listen to what you need tolisten to to get you back in
that faith-filled mode.
Get you back into that doingand working mode, because
there's always a time when wegot to get up and when we get up
(21:59):
, that's when the action isrequired on us.
Okay, so we in recovery mode,y'all you going to do it.
You are going to thrive afterthis.
I want y'all to hear me.
I am affirming today that youare going to build your income
higher than you ever had itbefore.
You going to be able to buildyour savings back from when you
(22:20):
were surviving on it.
You are not going to scrape by.
I am claiming that right nowfor everybody.
So you are going to recoverfrom this and I hope that
everybody that you gainedsomething from this episode
today because I know it felt sogood for me.
So if you need some assistance,your girl is booking for
(22:41):
September and October.
I got a lot of cute graphics onthe podcast page on my page,
yes, and I'm excited becauseI've been working with the same
clients for a while and I'mfinally at a point where I can
open the books up and I canaccept 20 new for September and
24 October.
I'm super excited.
(23:02):
As a financial guy, I do notplay your girl done been in this
industry for 18 years.
I'm not one of these playingexperts out here.
I'm a real expert out here.
When I say expert, I'm going touse that lightly because I know
a lot of people don't like thatword.
I've done so much.
I've worked in so manydifferent spaces in the
financial industry Don't forget,your girl is certified in here
(23:23):
too.
All right, so we're not playingwith you.
I have so many people who canspeak I'm going to put the
testimonials up who can speak tothe success that they've had
with me as their guide, whetherthey've increased their savings,
when we're talking aboutbuilding their money through CDs
or other financial productsthat can help them with building
(23:44):
their money.
Talking about helping peoplewith getting their vehicles,
helping people with increasingtheir credit, helping people
with just rebuilding theircredit as a whole, just whatever
it is.
I mainly love, of course, thecredit and the debt situations,
but I can help along the linesof most things, and so go ahead
and schedule your complimentaryconsultation on my website,
(24:05):
iammindfullyrichcom.
Don't forget, you can connectwith the podcast on Instagram.
I'm at Mindfully underscore,rich underscore podcast, and
y'all already know the biggestone share, share, share, because
, yes, we don't play that overhere.
Share this thing far and wide.
One woman team.
And don't forget, next week, ifyou've been thinking about
(24:26):
advertising your business on thepodcast, I'll have more details
for you here and also on thepodcast Instagram page.
I probably will throw it on mywebsite as well.
But don't forget listen,subscribe and share.
That is the main thing I wantto make sure that y'all know.
Write the reviews on whateverplatform it is that you are
listening to, and I'm not gonnastart rambling.
(24:49):
I enjoyed today y'all, butuntil next time when I hit y'all
with another one.
Hello, hello and welcome back to the Mindfully
Rich Podcast, your weekly lookat life in finances with a twist
, where we talk about improvingyour overall relationship with
money and building betterfinancial habits.
On each episode, I'll discussreal life situations and give
y'all practical advice.
The point of this podcast is tohelp you stay in your financial
(00:22):
lane so you won't end up broke.
I'm the creator and host, theGina Ritchie Richardson.
Now let's jump into today'sconversation.
What's up y'all?
What's up we back, we back, yes, and three weeks in a row, okay
, might I add.
Come on, okay, the one thing Ican say since I am back, I've
(00:45):
been wanting to deviate, justbecause that's just how my brain
works.
I know that we're in thisseries, but my brain has been
like, ooh, I want to do this,ooh, I want to do that, because
I didn't get my mind back, Ididn't get my creativity back.
Your girl is back, so I feelgood.
So, of course, y'all know gottaalways start off with gratitude
(01:09):
.
Y'all have been listening,listening, listening, like I
always ask y'all to do, and oh,my goodness, like we got new
cities, new countries.
It's been like a thing.
I've been loving it and soalways gotta start with
gratitude.
Gotta start graciously thankingy'all.
Thank you so much for being alistener.
Thank you so much for all ofthe shares, thank you so much
(01:29):
for bringing this podcast intoyour circles.
For those of y'all that do that, for those of y'all that ain't
y'all already know, okay, I toldy'all team of one, okay, share
this thing far and wide.
We need everybody to hear it,okay.
So, thank you once again.
Appreciate all the listens Eversince I've jumped back y'all
didn't jump back All of the DMs,all of just the like yes, I'm
(01:52):
happy to be back, I want to stayback.
So, not too many yet, okay.
Not too much yet, okay.
I want to make sure that thatconsistency builds again.
I'm also going to have someadvertising.
What is it calledAdvertisements availability?
Yes, let's call it thatAdvertisement availability
coming up next week.
(02:13):
I should have more informationon that for those of y'all that
are interested, because yourgirl can sell grass.
Let me tell you what anywhere Igo and I love it, the people
who know me know I'm going totalk about it, Okay, and so I
particularly like to alignmyself with things that I would
particularly like as well.
So we definitely will get intoall of the advertisement
(02:37):
availabilities that are comingup for y'all, so stay tuned for
that.
Okay, and so let's go ahead andjump back into it.
So for those of y'all that didnot listen to last week's
episode oh my God, it was a longone, but it was so good when I
tell y'all it was good, like Iwas very patient in this, so I
was very kind, very empathetic,and I hate that that trend is
(02:59):
out right now just because Italk like this anyway, and so I
just didn't say the very demurepart, but the episode was really
good.
I was very patient in thisepisode and reason being, I've
been through it In a lot ofaspects.
(03:20):
I'm going through it and Iwanted to make sure that I was
speaking to that other personout there who also is going
through it, and this episode isgoing to live forever, so one
day it's going to be speaking tosomebody else, and so that's
the thing that I love aboutthese episodes and one thing
that I've noticed the olderthese episodes get, the more
(03:41):
people listen.
So I love that.
This is something that is nowgoing to be history and I'm
going to be the moved on fromthis and somebody going to be
just starting on this, so thatmakes me feel so good.
And the episode title wasSurviving on Savings.
The Making it Last episode,y'all, it was just oh, it was
just everything.
There was so many aspects ofthat I'm getting chills just
(04:07):
thinking about it so manyaspects of that episode where I
was like, wow, you are reallyreleasing some things here.
This podcast is so therapeuticfor me because, even though I'm
not saying the full story,getting a chance to just finally
say it and to finally feelheard on it Not in a way where I
needed to sit down with myfriends and feel heard or
(04:29):
anything like that because myfriends are aware, but it was a
different type of therapy that Ilove being able to do here on
this podcast.
So if you haven't checked outthat episode after this one,
make sure you go ahead head onover there.
All right, and don't forget,the podcast is streaming on all
streaming platforms.
Okay, all of them.
It's not on YouTube yet.
(04:49):
Y'all, I'm getting there.
I want to add the visual, butit's like I'm feeling like I
might only put the audio onYouTube.
I'm not sure yet.
Y'all DM me and let me knowwhat y'all think, because it's
only me and I'm just like.
Should I do it?
Maybe I should, I don't know.
I think I will, but I don'tknow.
I got to think about some more.
Anyways, okay, and so I justrealized I didn't tell y'all
(05:13):
exactly what last week's episodewas, just in case y'all wanted
to know it.
Okay, all right, we talkedabout surviving on savings when
income stops.
What does that look like?
Some practical realities ofstretching your money and your
essential needs.
Y'all, it was good.
Okay, I just went back realquick, just because I wanted to
make sure that y'all knew thatit was good.
(05:34):
So, after this episode, goahead and go back.
Now we can transition and moveinto our mindful money moment.
And so, y'all, I actually had asong for today, but I don't
really like this song, so that'sthe reason why I ain't really
put no song attached to this Forthe advertisements on Instagram
and stuff.
I might do it.
Okay, because y'all remember myleast song is the climb.
(05:56):
I think it was called Just theClimb, but as the person that I
am for a song, I normally callit whatever the chorus is.
But Miley has a song calledit's the Climb and I named
today's episode the Climb Back.
Restoring your Financial.
Nope.
I changed the title the notesthat I was just looking at was
(06:18):
wrong.
It's the climb back.
Restoring your income.
That's what it is.
I took financial out.
I use financial in so manyaspects of my life, y'all, that
I was like I need to use anotherword, and so I had to call it
something else.
All right, so restoring yourincome, think back.
I've been telling a story thiswhole time.
So, going from the firstepisode talking about the fall
(06:42):
from high income six figures,whatever, that looks like, two
scraping by, then next survivingon saving.
So all of this is flowing andit's telling a story, and so
that's the reason why we're nowat how do we make that climb
back?
How do we get back to that highincome earning capacity?
How do we get back to sixfigures?
(07:03):
How do we surpass the figuresthat we were making before?
Because look at it like thisTrouble can't last always.
It just can't.
All right, we got to getourselves up at some point.
The sunshine is going to comeout at some point.
The favor that we're lookingfor is going to happen at some
point.
The seeds that we were plantingwhile we were in survival mode,
(07:27):
they're going to startsprouting.
So that's why we're talkingabout the climb back.
How do we restore our incomeeven better than we did the
first time, and so I'm always aproponent of multiple streams of
income.
Whatever streams you choose,that's up to you, but when we're
talking about rebuilding ourincome streams, a lot of
(07:50):
people's number one stream ofincome is going to be from their
job.
When you're on W-2, when youwork for an employer, that is
one of the top income streamsthat a lot of people have, and
so let's talk about that for alittle bit.
I don't know if y'all are onTikTok.
I've been looking at a lot ofvideos, and looking at a lot of
(08:12):
HR professional type videoswhere they're talking about the
market that we're in right nowtype videos where they're
talking about the market thatwe're in right now, how there
are so many people applying forone job.
I don't know if y'all rememberit was back in like 2020 or 2021
.
It was like the end of 2020 atthat, where everybody was
quitting their jobs, people wereleaving, and so there were so
(08:33):
many jobs available at that time.
But right now, the market thatwe in no, that's not the same
thing.
We ain't even in that youprobably got about up to 500
people all competing for thesame job.
So if you are looking for sometype of job in corporate or
(08:54):
wherever this job will be,wherever your career field is,
at those job opportunities theyare slim right now.
This is not to say that youcan't get one because, baby, you
blessed, okay.
You listened to the MindfullyRich podcast Okay, you blessed,
and you are fearfully made.
All right, god won't putnothing on you that you can't
bear.
You going to be able to get thejob, okay.
(09:15):
But let's just say maybe it maytake a little longer because
it's taking a long time.
I've been seeing the successstories of people saying they
applied for 200 plus jobs andfinally got the job, or they
finally got a job after sixmonths, a year.
There are some long time framesthat I've seen.
(09:38):
This is not being said todiscourage you.
I am always saying this to bevery real, but everybody is
different and so when you'retalking about that main source
of income for a lot of people,with it being a job, if you're
talking about getting a jobsomewhere, you got to update
your resume.
Updating your resume, child, goon TikTok.
(10:00):
I need y'all to go on TikTok soy'all can see these people who
be talking about resumes.
They be talking magic.
Talk to me right now becauseI'm like wow, I never knew that
I needed to do all of thesethings.
It feels like you're jumpingthrough hoops but because of the
job market, that we in theseemployers ain't got time to be
sitting there sifting through500 and something applications.
(10:22):
They looking for keywords, theylooking for impact, they
looking for all of these thingsthat you have done that can
stand out from the rest, and ifyour resume not doing that right
now, you going to get leftbehind.
I just told you everybody andtheir mama is looking for a job
and they may be looking for thesame job that you're looking for
.
So you got to come correct.
(10:43):
I don't know if I talked aboutthis in one of the episodes I
might have, but I got to talkabout it again just in case.
When it comes to your resume,chatgpt has been like my best
friend.
Whether it's good, bad,indifferent, it feels like it
works.
Putting your resume intoChatGPT and ChatGPT is free.
Putting your resume in there,letting ChatGPT know this is the
(11:06):
type of job that I'm applyingfor, letting ChatGPT see the
description of the actual rolethat you're applying for and
comparing it to your resume, soit can make those things in your
resume pop out.
It's not to add extra to you.
It is to make the things thatyou have pop out, that you've
already experienced and done,that you already have listed,
(11:28):
make it pop.
So on your resume, when anemployer, when a recruiter, is
looking at it, they'll be ableto see those things and not all
of the fluff.
So when you're looking for thatjob number one, I'm going to
tell you make sure that you getyour resume redone.
Redone meaning you can take itthrough ChatGPT.
There are lots of resume writersout there On TikTok.
(11:49):
I had no idea that it was somany and the amount that they
are charging.
I need to go back and look atmy prices because I said, how
about this A resume?
But I get it because if you getthe job, if you get the high
earning job, you get the sixfigure job that you want.
It was worth every single dime.
(12:10):
So I want y'all to take a look,look at your resumes.
Are they old and raggedy?
What you going to do so thatyou can get yourself back up?
Because employer income W-2income, as I like to call it
that's going to be a lot ofpeople's number one, main source
of their income.
So you want to look at yourresume because if you're
(12:31):
applying for a job, you needthat thing to be updated.
It need to be the Cadillac.
I don't even know what's thebig card now, cause it's like
when, normally, when youmentioned it like the best of
something, people normally wouldsay Cadillac.
That's why you got Cadillacmargaritas.
But you need your resume to bewhatever that best car is.
I'm going to still say theCadillac, the Cadillac of all
(12:52):
resumes.
So when they looking ateverybody else's, they'd be like
, ah, only bring me this.
You hear that?
Okay, all right.
So getting your resume updated.
There are other streams ofincome.
There are lots of people.
Now, I know a lot of people liketo say side hustles.
But a lot of people side hustle, be they business for real, the
hobby that they're doing.
That is a business.
(13:13):
I know a lot of people like tosay your little business, uh-uh,
now it's time to make it bigbusiness.
Do you hear me?
Whatever that little businessis that people been calling
little business?
Do you hear me?
Whatever that little businessis that people been calling
little?
Show them that it's bigbusiness.
Get on your Zoom.
It's time for you to really putin the work in that little
business, because we making abig business now.
We want people to startnoticing and talking.
(13:34):
What is that side hustle?
What is that hobby that you'redoing that can be made into big
business?
I believe in the last episode Iwas talking about there are
people out there who get paid tocuddle with people, to hug
people, to walk with them Y'allpeople are making money doing a
lot of things.
I'm not telling you to do that.
(13:56):
I am talking to you about yourside hustle, about the business
that you've been thinking aboutbuilding, or the business that
you've been thinking aboutbuilding or the business that
you're already doing.
That's in the little stage.
That need to be made big so youcan start making real money
from it.
We need multiple streams ofincome y'all.
We are not in a day and timewhere it's multiple streams of
(14:18):
income is a luxury.
No, it's a necessity.
We see what's going on in theworld.
We see that inflation iscontinuing to rise.
We see that the job market seema little iffy.
So when you get into one, wecan't just be changing like that
at this particular moment justbecause I'm a millennial child.
Millennials started the trendof every two, three years.
(14:39):
Okay, let me tell you whatbounce, bounce, bounce.
That's what we did.
All right, but we, in a timewhere that may not be feasible
because the jobs aren't comingas quick as they used to, it can
still be done.
Don't leave the first onebefore you go to the second
window.
Okay, it could be done, butit's not as easy as it used to
(15:02):
be.
So, for that side hustle, forthat hobby that you are building
into a business, how can youmake it bigger?
What does it need?
What research do you need to do?
Once again, I'm going on aheadand say going on to the TikTok.
The TikTok is free.
Let me tell you what.
Chatgpt is also free.
(15:23):
Help you with your strategicplan.
Help you with getting thatbusiness plan together so that
you can start elevating it towhere it needs to be, so you can
start making real money andgetting real strategic with it.
How much money do you want tomake from it each month?
How much money do you need?
This the thing, y'all.
Whenever we going through thescraping by phase, that's the
(15:43):
time that taught you what it isthat you need now.
So, whether it's an employerthat you get a job with and you
start making a W-2 income.
It's a side hustle that you nowhave turned into a real big
business for yourself.
Whatever that extra stream is,you are being strategic this
time.
I need this amount of moneyfrom this job.
I need this amount of moneyfrom this job.
I need this amount of moneyfrom my business or, if it's all
(16:06):
business, for my entrepreneursout there.
If you are just like you knowwhat, I'm just going to build my
business that I got bigger.
I'm going to bring in all themoney, being very strategic,
understanding how much money doI need after taxes?
Just because I'm going toalways bring the taxes element
in there, just in case, justbecause, for my entrepreneurs
out there, when it comes to usmaking money, when you go to
(16:31):
apply for loans like right now,it's house time Most of the
people that are my clientsthey're buying houses.
They're showing income, andbuying a house is an income game
.
That's going to be a wholenother episode.
Okay, but when you are trying toprove that income, you have to
claim it, so you have to showthat on your tax returns.
(16:53):
I'm a DBA, so, with a DBA, Ihave a Schedule C.
I have a profit and lossstatement with my taxes.
That's how your business showsthat it's actually making money.
So you want to know how muchwould I pay in taxes if I made
this amount of money.
Chatgpt is free, the internetis free, you can look that up.
(17:13):
Just because I made $40,000this year doesn't mean that I
take away $40,000, especially ifI'm going by the rules, if I'm
paying taxes.
So you need to know what thosenumbers look like.
Everybody, when I'm talking toyou about rebuilding these
income streams we buildingstronger this time, we building
better this time and we got toknow the numbers.
We got to be very intentional,we got to be very mindful when
(17:36):
it comes to us building thisincome so that we can make it
last, so that we can keep it.
Because this is the thing wecoming out of survival mode, we
want the best, we going to themountaintop this time, okay.
So just to kind of go back overall of those things, we're
talking about rebuilding ourincome streams after we've been
(17:57):
living on savings, after we'vebeen scraping by, knowing how
much we need to make.
That's going to be veryimportant.
That means that going back toit your budget, you're going to
need to make sure everything istight and right.
You know what your incomefactors are, what the income
factors need to be.
Don't stop till you get themthere.
I don't want you underemployed,I don't want you under the
(18:21):
amount of money that you need tomake because we just got
through scraping by, we just gotthrough living off our savings.
If something ever were tohappen again, we need to be able
to build higher so that way wecan still put away for savings
too, so not just our expenses.
We want to be able to get there, but we got to get there first
by building up our income.
And so, since last week'sepisode was so long, I wanted to
(18:46):
make sure that I onlyconcentrated on talking about
those income streams, justbecause that's enough.
I want to make sure that Iain't taking a moment, because I
understand, especially comingoff of surviving on savings
y'all.
That is hard to do, that is ahard task to do, and I
understand it very well.
That's the reason why it'srebuilding time.
(19:06):
We about to rebuild this income.
How can we do that?
Sky's the limit.
Let me give y'all theinspiration for hope.
I realized that I had to breakup with my mind.
My mind was telling me all ofthe things that I couldn't do.
My mind was not reminding methat I am more than a conqueror,
that the Lord would never putmore on me than I can bear, that
(19:27):
I can do all things throughChrist.
That strengthens me.
I wasn't remembering any ofthose things.
What my mind was telling me wasI wasn't going to make it, I
wasn't going to get back towhere I was.
I'm not going to get back towhere I was.
It was bringing me down.
It was bringing worry into mymind.
It was bringing stress into mymind, and when all of those
(19:50):
things are in my mind, it is nowa part of my heart.
I had to remember whose I was.
I had to regain my confidenceso that I can feel good enough
to put myself out there, to getmyself back, and I want you to
do that today.
If you need to break up withyour mind, because your mind is
(20:11):
telling you that you can't havewhat you know God done, put in
your heart and told you what youcan have, you got to break up
with your mind.
You got to start feedingyourself with some inspiration,
feeding yourself with somepositivity, feeding yourself
with some positivity so that youcan build that confidence back
up, because it's time for us toput ourselves back out there.
It's time for us to get out,put our boxing gloves on so we
(20:33):
can come here and take somethingokay, because we ain't leaving
here without something.
All right, and that somethingthat we talking about is the
income.
We are raising our income inthis episode.
Y'all.
We are raising our income rightnow in life for those people
who are doing that and guesswhat?
We're going to do it.
But you got to build yourconfidence back up so that you
(20:55):
can get there, and I believe inyou.
I know that you're going to doit.
I know that you are now, afterlistening to this episode, you
are going to be able to movewith confidence.
You are going to be able tomove into those opportunities.
Open doors are happening foryou right now, your divine
connections to the jobs and theincomes that you want.
(21:15):
It is happening right now.
Child, let me tell you what yourgirl is preaching today.
All right, I wasn't evenintending on that.
I was just like just make thema cute little episode, get them
pumped up, get them in apositive mode so that they can
go out there and get what it isthat they need, because you
deserve it.
But you got to be plantingthose seeds.
(21:36):
Faith with works that's what Ialways believe in and I can
admit my works had slack for awhile because my faith was small
.
But build up that faith.
Listen to what you need tolisten to to get you back in
that faith-filled mode.
Get you back into that doingand working mode, because
there's always a time when wegot to get up and when we get up
(21:59):
, that's when the action isrequired on us.
Okay, so we in recovery mode,y'all you going to do it.
You are going to thrive afterthis.
I want y'all to hear me.
I am affirming today that youare going to build your income
higher than you ever had itbefore.
You going to be able to buildyour savings back from when you
(22:20):
were surviving on it.
You are not going to scrape by.
I am claiming that right nowfor everybody.
So you are going to recoverfrom this and I hope that
everybody that you gainedsomething from this episode
today because I know it felt sogood for me.
So if you need some assistance,your girl is booking for
(22:41):
September and October.
I got a lot of cute graphics onthe podcast page on my page,
yes, and I'm excited becauseI've been working with the same
clients for a while and I'mfinally at a point where I can
open the books up and I canaccept 20 new for September and
24 October.
I'm super excited.
(23:02):
As a financial guy, I do notplay your girl done been in this
industry for 18 years.
I'm not one of these playingexperts out here.
I'm a real expert out here.
When I say expert, I'm going touse that lightly because I know
a lot of people don't like thatword.
I've done so much.
I've worked in so manydifferent spaces in the
financial industry Don't forget,your girl is certified in here
(23:23):
too.
All right, so we're not playingwith you.
I have so many people who canspeak I'm going to put the
testimonials up who can speak tothe success that they've had
with me as their guide, whetherthey've increased their savings,
when we're talking aboutbuilding their money through CDs
or other financial productsthat can help them with building
(23:44):
their money.
Talking about helping peoplewith getting their vehicles,
helping people with increasingtheir credit, helping people
with just rebuilding theircredit as a whole, just whatever
it is.
I mainly love, of course, thecredit and the debt situations,
but I can help along the linesof most things, and so go ahead
and schedule your complimentaryconsultation on my website,
(24:05):
iammindfullyrichcom.
Don't forget, you can connectwith the podcast on Instagram.
I'm at Mindfully underscore,rich underscore podcast, and
y'all already know the biggestone share, share, share, because
, yes, we don't play that overhere.
Share this thing far and wide.
One woman team.
And don't forget, next week, ifyou've been thinking about
(24:26):
advertising your business on thepodcast, I'll have more details
for you here and also on thepodcast Instagram page.
I probably will throw it on mywebsite as well.
But don't forget listen,subscribe and share.
That is the main thing I wantto make sure that y'all know.
Write the reviews on whateverplatform it is that you are
listening to, and I'm not gonnastart rambling.
(24:49):
I enjoyed today y'all, butuntil next time when I hit y'all
with another one.
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