January 1, 2025 • 28 mins
Kickstart your 2025 with a fresh perspective on achieving financial success by mastering the art of budgeting, saving, and goal setting. This episode will equip you with five powerful, actionable steps that can help you transform how you manage your finances in the new year.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Happy New Year everyone.
Thanks for joining us.
In today's episode, we aregoing to talk about five things
you can do to start the new yearoff right.
We're going to talk aboutsetting financial goals,
reviewing your budget,understanding what happened in
2024, creating a debt payoffplan if that's something you
need to do, automating yoursavings and taking action.
(00:23):
So if you are ready to kick off2025 right and you want to be
in a better place at the end of2025 than you were financially
in 2024, then this episode isfor you.
Hey podcast yo Learn how tomake them pockets grow Financial
freedom's where we go.
Smart investments money flow.
Speaker 2 (00:45):
Hey babe, what are we talking about today?
Speaker 1 (00:47):
Happy New Year.
We're talking about how to kickoff your new year with
intentionality and with a planto make 2025 the best it can be.
Are you excited?
How are you feeling?
Speaker 2 (01:00):
I feel good.
Yeah, I do feel good.
Yeah, I do feel good.
The idea of this today'sepisode is to make sure that
you're starting the year off onthe right foot, because we all
know that the new year is a timeto start anew.
Speaker 1 (01:13):
The new year is a time to start anew.
Wow, guys.
Speaker 2 (01:17):
I'm full of you know, profound thoughts.
It's my new year thing.
Speaker 1 (01:22):
Wow.
We're going to have more ofthat to come.
More of that to come, please.
No, all right, well, let's getinto it.
We want to make sure that weare valuing people's time in
2025 and really sharing greatepisodes where you can walk away
feeling empowered, ready totake action and take steps to
(01:43):
improve your financial goals.
Aside from today's episode, wealso have some amazing guests
coming on the show, so make sure, if you have not yet hit that
subscribe button, that you dothat, because we are dropping
episodes every Wednesday and youdon't want to miss out.
I mean everything from astudent loan attorney to
entrepreneurs, stay-at-home momsmaximizing their budget.
(02:08):
I mean, we've got so many guestrecordings that we're so
excited to share with you.
You just don't want to missthem.
So hit subscribe, stay tunedand make sure you're also
subscribed to our newsletter,because we have revamped that.
It's been working tirelesslyaround the clock to make sure
that things that are hittingyour inbox are of value and,
(02:28):
again, takeaways, links,partnerships, all sorts of great
content there for you as well.
Speaker 2 (02:37):
You said it all Okay.
Speaker 1 (02:39):
Well, let's get into today's episode, then.
How to start the new year off,right?
We're going to give you fiveaction steps, so what's the
first one, babe?
Speaker 2 (02:48):
First one is to set financial goals.
I mean, everything that startswith intentionality is
determining what it is youactually want to accomplish, and
we've said the time and timeagain that, unfortunately, a lot
of people don't actually thinkthrough what their specific
goals are.
They tend to have maybe moregeneric goals and they also
don't talk about them out loudand, more specifically, they
(03:09):
don't talk about them with theirpartner.
Speaker 1 (03:11):
If you have one, that's going to be a whole
nother episode, because we areworking on something really
exciting for couples to haveconversations with their
partners about money.
But everything you just said isgreat.
However, I think there's areflection component right that
we need.
Speaker 2 (03:28):
Well, there is a reflection component.
So, you know, you do obviouslyneed to think about, you know,
some of the things that havehappened in the previous year,
but the idea is that new yearstarting, so you want to sit
down and say, hey, what do Iwant to accomplish in the new
year coming up?
And you need to be specific andyou also need to have
measurable goals.
Like I said, most people tendto have maybe generic goals and
(03:49):
they aren't necessarily going tobe the ones that move the
needle when it comes to how youwant to live your life.
So, having those conversationsout loud and really talking
through it because I know for mepersonally, and I would say
just as well is that sometimesyou may have an idea of a goal,
and talking out loud and talkingthrough it helps you have a
(04:09):
more clearly defined goal at theend of the conversation.
Speaker 1 (04:12):
Yeah, I mean definitely talking about it with
your partner, because havingthat alignment, especially if
your finances are combined whichif you're in the same household
, even if your accounts aren'tcombined, there's an element of
combining the finances, so youdefinitely want to be on the
same household.
Even if your accounts aren'tcombined, there's an element of
combining the finances, so youdefinitely want to be on the
same page.
Are you trying to reduce debt,increase your savings, start
investing?
You know, plan for that house,that baby, whatever it might be?
(04:36):
You know, are you on the samepage, I think, to writing them
down or saying them out loud?
You know, I think I don't knowthe statistic right off the top
of my head, but I do know thatthe research has shown that when
you talk about your goals outloud, that you are more likely
to achieve them.
So, as you're going out forbrunch and lunch and dinner and
meeting up with friends, that'sa great opportunity to let your
(04:59):
friends know what you're workingon, because it's a way for them
to not only be aware but alsoto help support you.
You know, if you're saying Iwant to pay off debt or I want
to increase my savings, thenthey know, maybe I don't need to
be asking you to go out.
You know every other day tospend money.
Maybe we can come up with waysto spend time together that's
(05:19):
meaningful without spendingadditional money.
So you want people to also knowyour goals so that they can
help you achieve them.
Speaker 2 (05:26):
I mean that also leads into the whole.
One of the purposes of thispodcast is to have more open
conversations about money, andthat includes your goals, I mean
.
I feel as though that if youwant to deepen the friendships
and the relationships that youhave in your life, talk about
your goals.
I mean you know having a shared, I mean you guys might even
have shared goals when you starttalking about it and you have
(05:48):
new accountability partners.
Speaker 1 (05:49):
Yeah, absolutely so.
Really setting those goals,getting clear on what it is that
you're trying to accomplish and, you know, don't let this be an
overwhelming part.
Let it be something exciting.
Maybe you won't be able to doeverything this year, right,
it's only 365 days.
However, what are the mostimportant things?
If you don't have an emergencyfund to start off the year,
(06:11):
that's something we woulddefinitely recommend you focus
on.
You know, putting aside Xamount of dollars from every
paycheck to make sure that youare getting that emergency fund
up.
If you, you know, didn't like Isay keep the list concise.
Yeah.
Speaker 2 (06:26):
I think too often people start to put too many
things on their plate and then afew months in they feel
overwhelmed and then they justlet everything go.
So maybe keep this listinitially three to five items
for the entire year.
I mean the idea is to befocused and make sure you get
them done and you know.
If you are able to handle thosefive things this year, maybe
you could add a few more to yourlist the following year.
(06:47):
But the idea here is that youwant to set goals that are
actionable and that you canactually accomplish.
Speaker 1 (06:52):
Yeah, absolutely.
Have you been listening to ourpodcast and wondering how am I
really doing with my money?
Am I doing the right thingswith my investments?
Am I on track to reach myfinancial goals?
What could I be doing better?
If you answered yes to any ofthese questions, then it's time
(07:12):
for you to reach out to Brandonto schedule your free yes, I
said free 30-minute introductionconversation to see how his
services could help make you themore confident moneymaker we
know you could be.
What are you waiting for?
It's literally free and, at thevery least, you'll walk away
feeling more empowered andconfident about your financial
(07:33):
future.
Link is in our show notes.
Go schedule your call today.
All right, let's move on to thereally big thing.
Which most of us need toconsistently do, month over
month, week over week, is reviewyour budget.
Speaker 2 (07:48):
Yeah, so I always have to start out with a
positive.
What did you do in 2024?
That was positive.
You know what did you do rightin that year when it comes to
your budget.
I mean, you could obviously,once you review some of the
things that you're doing right,you want to continue doing those
things correct.
You continue doing those things.
In the new year.
Words Once again, are eludingme, but also, we do want to look
(08:10):
at what do we need to improveupon?
What are some of the thingsthat you set out to do and maybe
you didn't accomplish when itcomes to your budget?
Speaker 1 (08:17):
And why?
Speaker 2 (08:17):
And why?
Yes, the key is the why.
Speaker 1 (08:20):
The why.
Speaker 2 (08:20):
What hindered you from accomplishing those things,
when it comes to your budgetand then working on fixing that,
moving forward.
Now, obviously, there is somereflection here, and I don't
want you to dwell on thenegatives, because the reality
is that it happened.
You can't change it, but youcan learn from it and apply what
you've learned, moving forwardso that it doesn't happen again.
Speaker 1 (08:40):
I think this is a good opportunity to to talk
about how you want to budget,because there are people who are
going to put a line item foreverything.
Right, they're going to put aline item for gas, for groceries
, for iced coffee, all thosethings.
And then there's people who aregoing to say I'm going to save,
I'm going to invest, I'm goingto save my money, pay my bills,
(09:05):
and then anything else that'sleft is left, and so there's
other ways to do it.
You can track everything youknow using software or an app,
or if you are a paper to penperson and that helps you, then
that's a great thing to do aswell.
But typically, what we hear is Idon't know where my money goes,
and we've felt that way as well.
(09:26):
You look up at the end of themonth and you're like where did
all my money go?
And if you're doing like a zerobased budget, where you do what
we do, which is you pay yourbills, you save and invest, and
then whatever's left is left,you know, maybe you aren't
tracking and you're like, whoa,this was a really big Amazon
month or whatever it might be.
But decide how you want toactually track your budget and
(09:49):
we've been honest on thispodcast and we even talked about
how, in one of our most recentmoney meetings, we sat down and
it was the iced coffee.
It was getting a little out ofcontrol and so we pushed back
and and pulled back and said,all right, this is our budget
for iced coffee, this is ourbudget for eating out.
Here's the money that you know,quote unquote I get to spend
when I go out with friends, andso it just puts boundaries and
(10:12):
parameters on the things that wevalue, and then we pull back in
other areas where we didn'tfind value.
So think about how you want tobudget, but, most importantly,
how are you going to track it?
Because if you can't see inblack and white where your money
is going, you don't have abudget and you don't know.
Speaker 2 (10:31):
I also want you to have a mind shift, because I
think when most people hear theword budget, they think of
restrictions.
Speaker 1 (10:36):
Right.
Speaker 2 (10:36):
And that's not what we're focused on.
We're focused on using ourmoney with intentionality as far
as focusing on where our moneyis going and is it going towards
enriching our lives, because Ithink often we get too caught up
in just spending money onthings that, in all honesty, if
you just stopped and thoughtabout it, don't necessarily need
and it really isn't adding toyour life.
So don't think about budgetingas restriction.
(10:59):
Think about it as reallyfocusing on knowing where your
money is going, so that you cancreate a plan for where you want
to be in the future.
Speaker 1 (11:06):
Yeah, and I've actually one thing that I've
seen online several times and Ijust started kind of
implementing is I put things inmy cart and I just leave them
there for a day or two and yougive it 48 hours and then you
decide do I really need this, Dothe kids really need this?
What am I going to use it for?
How long is this going to last?
And you know, I'm not talkingabout the laundry detergent and
(11:27):
the kids vitamins, but you know,that extra sweater or that cute
pair of shoes that was on sale,you know, is this something
that was already on your list oris it something that you're
buying because it was on sale?
You know, we just kind of cameoff of that black Friday, gray
Thursday, cyber Monday, I meanlike gray Thursday is that a?
Speaker 2 (11:46):
thing?
Speaker 1 (11:47):
Yes, it's a.
Thing.
I mean you know it's all theexcuses to shop, and so why are
we buying things?
Are we buying things justbecause it's there and it's on
sale, or is it because weactually wanted it?
And I know, for us, one of thethings that we're being very
intentional about is our travel.
Right, we spend most of ourmoney on travel.
We've got a big trip coming upfor my 40th.
(12:08):
We're already planning on goingout of the country again for
Christmas 2025.
We don't have any plans yet forour summer beach trip.
We need to do that, you know,but what we really value is
travel together, travel with ourchildren, and so that's where
the bulk of our money goes.
But again, intentionality.
Speaker 2 (12:26):
And that ties into you know, when you're reviewing
your budget, that you are takinginto account the goals that you
want to accomplish for 2025 andincorporating that into your
new budget.
You know any major expenses youmay be having.
So, for example, like we weretalking about some of the trips
that we're taking, we're bootingthat into our budget for the
year.
So that's the idea of doing thereview.
Speaker 1 (12:44):
Absolutely All right.
Moving on from budgeting, mostof us, in some capacity, need to
also look at our debts.
So you know for anybody newthat's listening we are not debt
free.
That's not something we've everclaimed.
It's also not something that isa goal of ours.
We have a mortgage.
We don't plan on paying it off.
We have a car payment, and youknow we're talking about those
(13:08):
consumer debts.
We're talking about, you know,getting our student loans down,
things like that personal loans.
More specifically, you know ifyou have credit card debt payoff
(13:33):
plan for, but it's somethingthat you need to look at.
So it's a great time at thestart of the year to look at all
of your debts, write them outwhen are they, what are the
amounts, and then what are theinterest rates.
And there's a couple of schoolsof thought about how to pay off
debt.
Some people will say write outall of your debts the amounts
and then the interest rates andstart with the highest interest
rate first.
But there's other people whowant those small wins along the
(13:54):
way.
So maybe you pay off a creditcard that has a smaller balance
with a smaller interest rate,but you get that endorphin boost
because you've paid it off muchquicker and then you roll that
payment that you were makingonto the smaller card into the
larger cards.
Speaker 2 (14:10):
Yeah, that's the difference between the two
strategies known as, like theavalanche versus the snowball or
the avalanche.
You are focusing on theavalanche.
There we go.
That's what I said, but withavalanche you have, you're
focusing on paying off the debtthat has the highest interest
rate first.
So you're obviously paying theminimums on all the debts that
you have, but then any excessmoney that you have after you
(14:32):
reviewed your budget would begoing towards your high interest
the card or whatever debt hasthe highest interest.
As compared to what?
The snowball method is that?
Any extra money that you haveto put towards debt payments?
Now you're going to put thattowards your lowest balance
instead of the one with thehighest interest rate, and the
idea behind that, like she said,is some people need to get
those small wins in order tocontinue on it's a mental shift,
(14:53):
yeah and there's no wrong orright way now mathematically
paying the higher interest,putting the additional money
towards that one would make moresense mathematically.
But as you know, here we're notall about just the math, because
everyone has an emotionalattachment to their money.
But the idea is that youdiscuss a payoff strategy and
you implement it, whatever itmay be.
Speaker 1 (15:14):
Right, and you know.
What's really nice is if you'relooking at your credit card
statements, which you should bedoing on a monthly basis, even
if you're paying off your cardsevery month, even if you have
things automated, you shouldstill be looking at your
statements just to make sureeverything's correct, that all
of the charges are actually yourcharges.
But what's really nice is thatmost of the statements now will
actually give you almost like aschedule of if it takes you this
(15:38):
long.
You know this is how muchyou're actually going to pay on
this bill.
It'll also tell you how muchextra you're going to be
spending, you know, in interestpayments, and so that could be
pretty motivating to look at,because obviously, the higher
the interest rate, the longerit's going to take you to pay it
off and the more you're goingto pay an interest if you're
only making those minimumpayments.
So that's something to take alook at.
(16:00):
They've done the math for youand we want to get that consumer
debt paid off as quickly aspossible.
Speaker 2 (16:06):
Yeah, I always use a debt calculator with my clients
I'm working with Because itshows them, with the current
method that they're using andhow much they're putting towards
that debt, how long it willtake for the pay it off, and
then say we add an additional$50 a month to that payment and
it shows them how much quickerthey could take it off, pay it
off, and a lot of people arereally surprised at how much a
little bit of money actuallygoes a long way when it comes to
(16:28):
debt payments, as far as howquickly you know a debt that
maybe was going to take you 24months you had another $50 a
month to the payment could endup reducing it by six or eight
months and you pay it off sooner.
We can also definitely link Ican link the one on the show
notes that I often use withclients because it's a really
easy one to use.
Speaker 1 (16:45):
Perfect, we'll link that in the show notes.
Next, we want to talk aboutgoing from your debt reduction
to your savings, because we notonly want to have that emergency
fund, but we also want to, youknow, save for our future selves
, for retirement.
What's your suggestion there?
Speaker 2 (17:02):
So, first and foremost, you need to look at
how much are you currentlysaving?
The idea is to get an eye.
The idea is to figure out whatyour current savings rate is.
How much are you saving on amonthly slash, annual basis?
And that can include how muchis going to a high yield savings
account, how much you'reputting towards your retirement
accounts whatever it may be, buthow much of your income are you
(17:24):
saving?
Now, once you know that amount,maybe you can look at hey, can I
increase that amount?
So, let's say, hypothetically,your savings rate is 10%, which
is great.
If you're already doing that,pat yourself on the back, but we
always want to work towardsimprovement.
So maybe you can do 12%, 13%and see what that looks like.
Now, once you've determinedwhat your savings rate is and
(17:46):
what you want it to be for 2025,automate it, automate it.
Automate it.
Automate it.
Make it much easier foryourself rather than having to
do all this stuff manually, andit's also been shown
statistically that those whoautomate their savings are much
better savers than those who tryto do it on a monthly basis
manually.
Speaker 1 (18:05):
Well, because let's be serious If you're not
automating it, the likelihood isyou're going to pay your bills,
you're going to spend yourmoney and then you're going to
be like oh, I need to save.
Speaker 2 (18:18):
And you're going to spend your money and then you're
going to be like, Ooh, I needto save.
And you're going to say, oh, Idon't have enough.
And the thing is, too is forthose individuals that may be
working jobs where your monthlyincome fluctuates and you're a
little bit worried about, youknow, choosing an amount to
automate.
Automate a lower amount so thatit's automatically happening.
You know, base it off of yourlowest month, of what you
brought in, choose that amountand automate that, and then you
can always add that additionalamount manually on top of that.
(18:40):
The idea is that we want tomake sure something is going in.
Speaker 1 (18:42):
Yeah, and one nice thing that you could also look
into, especially if you areworking you know, a corporate
nine to five type job a lot oftimes your payroll will allow
you to add additional bankaccounts so you have your direct
deposit into your checking.
But then you could also in somecases you'll have to do your
research, but in some cases youcan also automate that a portion
(19:06):
of your paycheck goes directlyinto savings.
I know for me, if I don't seeit, I don't miss it.
So even if it's $25, $50, $100,getting taken out immediately
from that paycheck, just likeyour health insurance and your
401k and your taxes and all thethings, if you don't see it, you
don't miss it.
So get that out of there asquickly as possible and, you
(19:29):
know, flow it into one of yourother accounts A high yield
savings account would be greatby the way yes.
If you have not opened up yourhigh yield savings account.
Speaker 2 (19:40):
please go ahead and do it.
It literally takes a fewminutes.
That is it, yes.
Speaker 1 (19:42):
We've made over a thousand dollars last year off
of one of our savings accounts,and that is, I mean, the
definition of free money.
Speaker 2 (19:52):
And the thing is too is in America people have a hard
time saving.
In comparison to other firstworld countries we are, you know
, kind of statistically theworst at saving.
So it is a habit that you haveto work on, and once you've
established that good habit ofsavings, everything else is so
much easier.
Whenever I meet with a newpotential client and I can see
they already have that habit ofsavings, I'm like thank you,
(20:14):
lord, because this person isgoing to be so much easier to
work with.
Speaker 1 (20:18):
Yeah, Because it really is like a muscle that you
have to train.
You know, to hey, every monthor every paycheck, or however
many times you get paid, Xamount of dollars goes here, you
know and also stress that anyamount saved is better than
nothing.
Speaker 2 (20:34):
So, like you don't.
If you can't save a hundreddollars, that's fine.
Save 75, save 50, save 25, savefive.
I would rather see you savingfive than zero.
So don't get caught up on theamount being a large number.
Just save something.
Speaker 1 (20:48):
Yeah, even.
I mean and that goes forinvesting as well right, build
the muscle, build the habit ofinvesting $10 every month, you
know, if you don't have 500, ifyou don't have 1000, if you
don't have 5000, that's okay.
But because of compoundinterest, the time is the most
important part, not the amount.
So, if you're starting with $5,and you're, you know, listening
(21:10):
to this and you're in your lateteens, early 20s, that's great,
you know.
Start building that muscle andthen, as your salary increases
early 20s, that's great, youknow start building that muscle
and then, as your salaryincreases, your savings rate can
increase, and then yourinvestments will continue to go
up.
Because I know, if I wasinvesting the way I do now in my
early 20s, you know I startedteaching when I was 22.
And, yeah, I had the 403B, butI wasn't doing anything with it.
(21:33):
I didn't, you know, have theknowledge that I have now.
And, man, am I kicking myself?
Yeah, all right, what is thelast thing you want people to do
?
Speaker 2 (21:44):
schedule a meeting with me or or some other
financial advisor I'll settlefor that, but I think you should
reach out to me first,obviously yeah, yeah, oh go
ahead, no go ahead.
Speaker 1 (21:56):
Well, I was gonna say I think what we've talked about
consistently throughout 2024 ispeople are well intentioned,
right?
We know, if you're listening tothis podcast, you are trying to
improve something about yourfinances.
You're trying to learnsomething new, gain a new
perspective, do something better, different, faster, more
efficient, whatever it is.
(22:17):
You're not just listening to usbecause you like our voices,
you're trying to get somethingout of it.
And so, with thatintentionality, that's great,
but that's only one portion,right, you have to take action.
If you've listened to us say,you should have a high yield
savings account, and it's been ayear and you still have an open
one, that is in action.
If you've been talking about,oh well, I think I need to do
(22:38):
something with my 401k, but Idon't know what.
And you still haven't scheduleda meeting with Brandon, that is
in action.
If you haven't started investingfor your retirement, you know
we are not as lucky as ourparents.
We don't have the pensions.
We're probably not going tohave the Social Security.
We have to be reallyintentional about what our
future is going to look like,and we have to plan for our
(22:59):
future now.
And you know, if you've beenlistening for a while, we want
you to live a great life rightnow while also planning for the
future.
And if you don't know how to dothat on your own, or you don't
have the desire to spend hoursand hours learning how to do it,
then schedule the free consultwith Brandon, because at this
point, if you've been listeningand you like what you hear and
(23:20):
you've gotten to know Brandonand you're still not, you know,
scheduling a call with him,you're just wasting time.
Speaker 2 (23:28):
And the thing is, too , is that this might be, you
know, an extreme take, but Idon't think most people can
handle their personal financeson their own, and that's not due
to a lack of ability, it's dueto a lack of action.
So most people can figure outfrom an intelligence standpoint
what they need to know in someaspect, but consuming
(23:51):
information is great, but it'snot the end goal.
The end goal is the action, andI feel as though most people
lack the ability to holdthemselves accountable, to
commit to the actions, and it'snot due to them not wanting to
improve their life.
It's that you have a thousandother things that are right in
front of your face that you knowtake your time away from doing
(24:11):
everything else.
So, like I said, it's not alack of ability, it's a lack of
action.
And think about how much timeyou've already wasted saying I'm
going to do this, I'm going todo that, I'm going to do this,
I'm going to get to that, I'mgoing to get to that, and it
hasn't happened.
When you work with me, I canguarantee you the one thing
that's going to happen is action, because I'm going to make you
do things.
Speaker 1 (24:32):
Yeah.
Speaker 2 (24:33):
And that's the most important thing is are you doing
what you need to do?
Speaker 1 (24:39):
Yeah, well.
And two I mean we've talkedabout getting a will, getting a
trust, setting up.
You know your beneficiaries,updating your beneficiaries,
getting the high yield savingsaccount, opening this kind of
account.
If you've heard us say all ofthose things and you've thought
to yourself, oh, I need to dothat, oh, I'm going to add that
to my list.
And now it's 2025 and you'relistening to this and you still
(24:59):
haven't done it.
Somebody needs to help you holdyour hand.
Speaker 2 (25:02):
And the thing is, too , is that you know I've come to
this conclusion over years ofbeing in financial services,
that I've seen this firsthand,and our friends out there that
listen to our podcast can attestto this that they're in my
circle of friends.
I talk about these things allthe time, so they're kind of
getting some quote unquote freeadvice by just being around me
(25:23):
and hearing me talk about this,and they're still not doing it.
So it's not a matter of theinformation, because they have
the information, it's the action.
I mean, I do have one friendout there who knows exactly who
he is, if he's listening, andthis was a couple of years ago.
I literally was doing this asan experiment for myself.
I gave him the plan verbatim ofwhat I would do, step by step,
(25:45):
everything that I would do, andyears later he's still not
implemented it.
And think about the money thathe could have grown, the money
that he's wasted, the moneythat's not being maximized.
I mean, it's just sad you knowthat inaction and he's still not
working with me.
Speaker 1 (26:01):
if he knows who he is , does he listen to the podcast?
I don't know.
Speaker 2 (26:03):
Maybe we'll find out, yeah.
Speaker 1 (26:05):
Well, and another call out.
You know, if you have anyquestions about what Brandon can
do, just reach out, slide inour DM, shoot us an email.
We've gotten lots of messagesabout what, about this kind of
insurance, and I'm like.
You know that Brandon can doyour life insurance, your
disability insurance.
He can move all of your old401ks that you've neglected into
(26:25):
an IRA.
You know there are things thathe can do that again, you might
be putting off or just areunaware of what he can do.
Speaker 2 (26:34):
If you have a question about anything that
revolves around your finances,reach out and ask.
If it's not an area that I amwell-versed in or something that
I do, I might know someone thatcan help you so I can provide
you with a referral.
But if it's something that Ican do, then we can have a
conversation to see if it makessense.
I'm not about pushing everyoneto work with me, because it does
have to make sense from bothends.
I have to, you know, has tomake sense from my end, like are
(27:00):
you the type of client that Ican work with successfully and
on your end, am I the type ofadvisor that you trust and would
be open with so that we can besuccessful together?
Speaker 1 (27:07):
Yeah, so take action, schedule the meeting, ask the
questions, get your answers andlet's make 2025 a year of action
.
Speaker 2 (27:17):
Here's one more thing .
If I'm not possibly the advisorfor you, I do also provide you
a list of questions that I wouldrecommend you asking other
advisors that you may beinterviewing.
Speaker 1 (27:25):
Perfect, yes, and we have episodes on that as well.
Red flags and how to DIY yourfinances Can you DIY your
finances?
Go into those files.
We've talked about all of thesethings extensively.
Speaker 2 (27:37):
I'd love you guys to work with me, but obviously, at
the end of the day, I want youto find someone that works for
you so that you can besuccessful.
Speaker 1 (27:44):
Yeah, Perfect, All right.
Well, happy 2025.
We hope your year is off to agreat start and we are here to
help in any way we can.
We'll talk to you soon, Don'tforget Benjamin Franklin said an
investment in knowledge paysthe best interest.
You just got paid Until nexttime.
Thanks for listening to today'sepisode.
(28:14):
We are so glad to have you aspart of our Sugar Daddy
community.
If you learned something today,please remember to subscribe,
rate, review and share thisepisode with your friends,
family and extended network.
Don't forget to connect with uson social media at the Sugar
Daddy Podcast.
Social media at the sugar daddypodcast.
(28:34):
You can also email us yourquestions you want us to answer
for our past the sugar segmentsat the sugar daddy podcast at
gmailcom, or leave us avoicemail through our Instagram.
Speaker 2 (28:42):
Our content is intended to be used, and must be
used, for informationalpurposes only.
It is very important to do yourown analysis before making any
investment based upon your ownpersonal circumstances.
You should take independentfinancial advice from a licensed
professional in connection withor independently research and
verify any information you findin our podcast and wish to rely
upon whether for
Happy New Year everyone.
Thanks for joining us.
In today's episode, we aregoing to talk about five things
you can do to start the new yearoff right.
We're going to talk aboutsetting financial goals,
reviewing your budget,understanding what happened in
2024, creating a debt payoffplan if that's something you
need to do, automating yoursavings and taking action.
(00:23):
So if you are ready to kick off2025 right and you want to be
in a better place at the end of2025 than you were financially
in 2024, then this episode isfor you.
Hey podcast yo Learn how tomake them pockets grow Financial
freedom's where we go.
Smart investments money flow.
Speaker 2 (00:45):
Hey babe, what are we talking about today?
Speaker 1 (00:47):
Happy New Year.
We're talking about how to kickoff your new year with
intentionality and with a planto make 2025 the best it can be.
Are you excited?
How are you feeling?
Speaker 2 (01:00):
I feel good.
Yeah, I do feel good.
Yeah, I do feel good.
The idea of this today'sepisode is to make sure that
you're starting the year off onthe right foot, because we all
know that the new year is a timeto start anew.
Speaker 1 (01:13):
The new year is a time to start anew.
Wow, guys.
Speaker 2 (01:17):
I'm full of you know, profound thoughts.
It's my new year thing.
Speaker 1 (01:22):
Wow.
We're going to have more ofthat to come.
More of that to come, please.
No, all right, well, let's getinto it.
We want to make sure that weare valuing people's time in
2025 and really sharing greatepisodes where you can walk away
feeling empowered, ready totake action and take steps to
(01:43):
improve your financial goals.
Aside from today's episode, wealso have some amazing guests
coming on the show, so make sure, if you have not yet hit that
subscribe button, that you dothat, because we are dropping
episodes every Wednesday and youdon't want to miss out.
I mean everything from astudent loan attorney to
entrepreneurs, stay-at-home momsmaximizing their budget.
(02:08):
I mean, we've got so many guestrecordings that we're so
excited to share with you.
You just don't want to missthem.
So hit subscribe, stay tunedand make sure you're also
subscribed to our newsletter,because we have revamped that.
It's been working tirelesslyaround the clock to make sure
that things that are hittingyour inbox are of value and,
(02:28):
again, takeaways, links,partnerships, all sorts of great
content there for you as well.
Speaker 2 (02:37):
You said it all Okay.
Speaker 1 (02:39):
Well, let's get into today's episode, then.
How to start the new year off,right?
We're going to give you fiveaction steps, so what's the
first one, babe?
Speaker 2 (02:48):
First one is to set financial goals.
I mean, everything that startswith intentionality is
determining what it is youactually want to accomplish, and
we've said the time and timeagain that, unfortunately, a lot
of people don't actually thinkthrough what their specific
goals are.
They tend to have maybe moregeneric goals and they also
don't talk about them out loudand, more specifically, they
(03:09):
don't talk about them with theirpartner.
Speaker 1 (03:11):
If you have one, that's going to be a whole
nother episode, because we areworking on something really
exciting for couples to haveconversations with their
partners about money.
But everything you just said isgreat.
However, I think there's areflection component right that
we need.
Speaker 2 (03:28):
Well, there is a reflection component.
So, you know, you do obviouslyneed to think about, you know,
some of the things that havehappened in the previous year,
but the idea is that new yearstarting, so you want to sit
down and say, hey, what do Iwant to accomplish in the new
year coming up?
And you need to be specific andyou also need to have
measurable goals.
Like I said, most people tendto have maybe generic goals and
(03:49):
they aren't necessarily going tobe the ones that move the
needle when it comes to how youwant to live your life.
So, having those conversationsout loud and really talking
through it because I know for mepersonally, and I would say
just as well is that sometimesyou may have an idea of a goal,
and talking out loud and talkingthrough it helps you have a
(04:09):
more clearly defined goal at theend of the conversation.
Speaker 1 (04:12):
Yeah, I mean definitely talking about it with
your partner, because havingthat alignment, especially if
your finances are combined whichif you're in the same household
, even if your accounts aren'tcombined, there's an element of
combining the finances, so youdefinitely want to be on the
same household.
Even if your accounts aren'tcombined, there's an element of
combining the finances, so youdefinitely want to be on the
same page.
Are you trying to reduce debt,increase your savings, start
investing?
You know, plan for that house,that baby, whatever it might be?
(04:36):
You know, are you on the samepage, I think, to writing them
down or saying them out loud?
You know, I think I don't knowthe statistic right off the top
of my head, but I do know thatthe research has shown that when
you talk about your goals outloud, that you are more likely
to achieve them.
So, as you're going out forbrunch and lunch and dinner and
meeting up with friends, that'sa great opportunity to let your
(04:59):
friends know what you're workingon, because it's a way for them
to not only be aware but alsoto help support you.
You know, if you're saying Iwant to pay off debt or I want
to increase my savings, thenthey know, maybe I don't need to
be asking you to go out.
You know every other day tospend money.
Maybe we can come up with waysto spend time together that's
(05:19):
meaningful without spendingadditional money.
So you want people to also knowyour goals so that they can
help you achieve them.
Speaker 2 (05:26):
I mean that also leads into the whole.
One of the purposes of thispodcast is to have more open
conversations about money, andthat includes your goals, I mean
.
I feel as though that if youwant to deepen the friendships
and the relationships that youhave in your life, talk about
your goals.
I mean you know having a shared, I mean you guys might even
have shared goals when you starttalking about it and you have
(05:48):
new accountability partners.
Speaker 1 (05:49):
Yeah, absolutely so.
Really setting those goals,getting clear on what it is that
you're trying to accomplish and, you know, don't let this be an
overwhelming part.
Let it be something exciting.
Maybe you won't be able to doeverything this year, right,
it's only 365 days.
However, what are the mostimportant things?
If you don't have an emergencyfund to start off the year,
(06:11):
that's something we woulddefinitely recommend you focus
on.
You know, putting aside Xamount of dollars from every
paycheck to make sure that youare getting that emergency fund
up.
If you, you know, didn't like Isay keep the list concise.
Yeah.
Speaker 2 (06:26):
I think too often people start to put too many
things on their plate and then afew months in they feel
overwhelmed and then they justlet everything go.
So maybe keep this listinitially three to five items
for the entire year.
I mean the idea is to befocused and make sure you get
them done and you know.
If you are able to handle thosefive things this year, maybe
you could add a few more to yourlist the following year.
(06:47):
But the idea here is that youwant to set goals that are
actionable and that you canactually accomplish.
Speaker 1 (06:52):
Yeah, absolutely.
Have you been listening to ourpodcast and wondering how am I
really doing with my money?
Am I doing the right thingswith my investments?
Am I on track to reach myfinancial goals?
What could I be doing better?
If you answered yes to any ofthese questions, then it's time
(07:12):
for you to reach out to Brandonto schedule your free yes, I
said free 30-minute introductionconversation to see how his
services could help make you themore confident moneymaker we
know you could be.
What are you waiting for?
It's literally free and, at thevery least, you'll walk away
feeling more empowered andconfident about your financial
(07:33):
future.
Link is in our show notes.
Go schedule your call today.
All right, let's move on to thereally big thing.
Which most of us need toconsistently do, month over
month, week over week, is reviewyour budget.
Speaker 2 (07:48):
Yeah, so I always have to start out with a
positive.
What did you do in 2024?
That was positive.
You know what did you do rightin that year when it comes to
your budget.
I mean, you could obviously,once you review some of the
things that you're doing right,you want to continue doing those
things correct.
You continue doing those things.
In the new year.
Words Once again, are eludingme, but also, we do want to look
(08:10):
at what do we need to improveupon?
What are some of the thingsthat you set out to do and maybe
you didn't accomplish when itcomes to your budget?
Speaker 1 (08:17):
And why?
Speaker 2 (08:17):
And why?
Yes, the key is the why.
Speaker 1 (08:20):
The why.
Speaker 2 (08:20):
What hindered you from accomplishing those things,
when it comes to your budgetand then working on fixing that,
moving forward.
Now, obviously, there is somereflection here, and I don't
want you to dwell on thenegatives, because the reality
is that it happened.
You can't change it, but youcan learn from it and apply what
you've learned, moving forwardso that it doesn't happen again.
Speaker 1 (08:40):
I think this is a good opportunity to to talk
about how you want to budget,because there are people who are
going to put a line item foreverything.
Right, they're going to put aline item for gas, for groceries
, for iced coffee, all thosethings.
And then there's people who aregoing to say I'm going to save,
I'm going to invest, I'm goingto save my money, pay my bills,
(09:05):
and then anything else that'sleft is left, and so there's
other ways to do it.
You can track everything youknow using software or an app,
or if you are a paper to penperson and that helps you, then
that's a great thing to do aswell.
But typically, what we hear is Idon't know where my money goes,
and we've felt that way as well.
(09:26):
You look up at the end of themonth and you're like where did
all my money go?
And if you're doing like a zerobased budget, where you do what
we do, which is you pay yourbills, you save and invest, and
then whatever's left is left,you know, maybe you aren't
tracking and you're like, whoa,this was a really big Amazon
month or whatever it might be.
But decide how you want toactually track your budget and
(09:49):
we've been honest on thispodcast and we even talked about
how, in one of our most recentmoney meetings, we sat down and
it was the iced coffee.
It was getting a little out ofcontrol and so we pushed back
and and pulled back and said,all right, this is our budget
for iced coffee, this is ourbudget for eating out.
Here's the money that you know,quote unquote I get to spend
when I go out with friends, andso it just puts boundaries and
(10:12):
parameters on the things that wevalue, and then we pull back in
other areas where we didn'tfind value.
So think about how you want tobudget, but, most importantly,
how are you going to track it?
Because if you can't see inblack and white where your money
is going, you don't have abudget and you don't know.
Speaker 2 (10:31):
I also want you to have a mind shift, because I
think when most people hear theword budget, they think of
restrictions.
Speaker 1 (10:36):
Right.
Speaker 2 (10:36):
And that's not what we're focused on.
We're focused on using ourmoney with intentionality as far
as focusing on where our moneyis going and is it going towards
enriching our lives, because Ithink often we get too caught up
in just spending money onthings that, in all honesty, if
you just stopped and thoughtabout it, don't necessarily need
and it really isn't adding toyour life.
So don't think about budgetingas restriction.
(10:59):
Think about it as reallyfocusing on knowing where your
money is going, so that you cancreate a plan for where you want
to be in the future.
Speaker 1 (11:06):
Yeah, and I've actually one thing that I've
seen online several times and Ijust started kind of
implementing is I put things inmy cart and I just leave them
there for a day or two and yougive it 48 hours and then you
decide do I really need this, Dothe kids really need this?
What am I going to use it for?
How long is this going to last?
And you know, I'm not talkingabout the laundry detergent and
(11:27):
the kids vitamins, but you know,that extra sweater or that cute
pair of shoes that was on sale,you know, is this something
that was already on your list oris it something that you're
buying because it was on sale?
You know, we just kind of cameoff of that black Friday, gray
Thursday, cyber Monday, I meanlike gray Thursday is that a?
Speaker 2 (11:46):
thing?
Speaker 1 (11:47):
Yes, it's a.
Thing.
I mean you know it's all theexcuses to shop, and so why are
we buying things?
Are we buying things justbecause it's there and it's on
sale, or is it because weactually wanted it?
And I know, for us, one of thethings that we're being very
intentional about is our travel.
Right, we spend most of ourmoney on travel.
We've got a big trip coming upfor my 40th.
(12:08):
We're already planning on goingout of the country again for
Christmas 2025.
We don't have any plans yet forour summer beach trip.
We need to do that, you know,but what we really value is
travel together, travel with ourchildren, and so that's where
the bulk of our money goes.
But again, intentionality.
Speaker 2 (12:26):
And that ties into you know, when you're reviewing
your budget, that you are takinginto account the goals that you
want to accomplish for 2025 andincorporating that into your
new budget.
You know any major expenses youmay be having.
So, for example, like we weretalking about some of the trips
that we're taking, we're bootingthat into our budget for the
year.
So that's the idea of doing thereview.
Speaker 1 (12:44):
Absolutely All right.
Moving on from budgeting, mostof us, in some capacity, need to
also look at our debts.
So you know for anybody newthat's listening we are not debt
free.
That's not something we've everclaimed.
It's also not something that isa goal of ours.
We have a mortgage.
We don't plan on paying it off.
We have a car payment, and youknow we're talking about those
(13:08):
consumer debts.
We're talking about, you know,getting our student loans down,
things like that personal loans.
More specifically, you know ifyou have credit card debt payoff
(13:33):
plan for, but it's somethingthat you need to look at.
So it's a great time at thestart of the year to look at all
of your debts, write them outwhen are they, what are the
amounts, and then what are theinterest rates.
And there's a couple of schoolsof thought about how to pay off
debt.
Some people will say write outall of your debts the amounts
and then the interest rates andstart with the highest interest
rate first.
But there's other people whowant those small wins along the
(13:54):
way.
So maybe you pay off a creditcard that has a smaller balance
with a smaller interest rate,but you get that endorphin boost
because you've paid it off muchquicker and then you roll that
payment that you were makingonto the smaller card into the
larger cards.
Speaker 2 (14:10):
Yeah, that's the difference between the two
strategies known as, like theavalanche versus the snowball or
the avalanche.
You are focusing on theavalanche.
There we go.
That's what I said, but withavalanche you have, you're
focusing on paying off the debtthat has the highest interest
rate first.
So you're obviously paying theminimums on all the debts that
you have, but then any excessmoney that you have after you
(14:32):
reviewed your budget would begoing towards your high interest
the card or whatever debt hasthe highest interest.
As compared to what?
The snowball method is that?
Any extra money that you haveto put towards debt payments?
Now you're going to put thattowards your lowest balance
instead of the one with thehighest interest rate, and the
idea behind that, like she said,is some people need to get
those small wins in order tocontinue on it's a mental shift,
(14:53):
yeah and there's no wrong orright way now mathematically
paying the higher interest,putting the additional money
towards that one would make moresense mathematically.
But as you know, here we're notall about just the math, because
everyone has an emotionalattachment to their money.
But the idea is that youdiscuss a payoff strategy and
you implement it, whatever itmay be.
Speaker 1 (15:14):
Right, and you know.
What's really nice is if you'relooking at your credit card
statements, which you should bedoing on a monthly basis, even
if you're paying off your cardsevery month, even if you have
things automated, you shouldstill be looking at your
statements just to make sureeverything's correct, that all
of the charges are actually yourcharges.
But what's really nice is thatmost of the statements now will
actually give you almost like aschedule of if it takes you this
(15:38):
long.
You know this is how muchyou're actually going to pay on
this bill.
It'll also tell you how muchextra you're going to be
spending, you know, in interestpayments, and so that could be
pretty motivating to look at,because obviously, the higher
the interest rate, the longerit's going to take you to pay it
off and the more you're goingto pay an interest if you're
only making those minimumpayments.
So that's something to take alook at.
(16:00):
They've done the math for youand we want to get that consumer
debt paid off as quickly aspossible.
Speaker 2 (16:06):
Yeah, I always use a debt calculator with my clients
I'm working with Because itshows them, with the current
method that they're using andhow much they're putting towards
that debt, how long it willtake for the pay it off, and
then say we add an additional$50 a month to that payment and
it shows them how much quickerthey could take it off, pay it
off, and a lot of people arereally surprised at how much a
little bit of money actuallygoes a long way when it comes to
(16:28):
debt payments, as far as howquickly you know a debt that
maybe was going to take you 24months you had another $50 a
month to the payment could endup reducing it by six or eight
months and you pay it off sooner.
We can also definitely link Ican link the one on the show
notes that I often use withclients because it's a really
easy one to use.
Speaker 1 (16:45):
Perfect, we'll link that in the show notes.
Next, we want to talk aboutgoing from your debt reduction
to your savings, because we notonly want to have that emergency
fund, but we also want to, youknow, save for our future selves
, for retirement.
What's your suggestion there?
Speaker 2 (17:02):
So, first and foremost, you need to look at
how much are you currentlysaving?
The idea is to get an eye.
The idea is to figure out whatyour current savings rate is.
How much are you saving on amonthly slash, annual basis?
And that can include how muchis going to a high yield savings
account, how much you'reputting towards your retirement
accounts whatever it may be, buthow much of your income are you
(17:24):
saving?
Now, once you know that amount,maybe you can look at hey, can I
increase that amount?
So, let's say, hypothetically,your savings rate is 10%, which
is great.
If you're already doing that,pat yourself on the back, but we
always want to work towardsimprovement.
So maybe you can do 12%, 13%and see what that looks like.
Now, once you've determinedwhat your savings rate is and
(17:46):
what you want it to be for 2025,automate it, automate it.
Automate it.
Automate it.
Make it much easier foryourself rather than having to
do all this stuff manually, andit's also been shown
statistically that those whoautomate their savings are much
better savers than those who tryto do it on a monthly basis
manually.
Speaker 1 (18:05):
Well, because let's be serious If you're not
automating it, the likelihood isyou're going to pay your bills,
you're going to spend yourmoney and then you're going to
be like oh, I need to save.
Speaker 2 (18:18):
And you're going to spend your money and then you're
going to be like, Ooh, I needto save.
And you're going to say, oh, Idon't have enough.
And the thing is, too is forthose individuals that may be
working jobs where your monthlyincome fluctuates and you're a
little bit worried about, youknow, choosing an amount to
automate.
Automate a lower amount so thatit's automatically happening.
You know, base it off of yourlowest month, of what you
brought in, choose that amountand automate that, and then you
can always add that additionalamount manually on top of that.
(18:40):
The idea is that we want tomake sure something is going in.
Speaker 1 (18:42):
Yeah, and one nice thing that you could also look
into, especially if you areworking you know, a corporate
nine to five type job a lot oftimes your payroll will allow
you to add additional bankaccounts so you have your direct
deposit into your checking.
But then you could also in somecases you'll have to do your
research, but in some cases youcan also automate that a portion
(19:06):
of your paycheck goes directlyinto savings.
I know for me, if I don't seeit, I don't miss it.
So even if it's $25, $50, $100,getting taken out immediately
from that paycheck, just likeyour health insurance and your
401k and your taxes and all thethings, if you don't see it, you
don't miss it.
So get that out of there asquickly as possible and, you
(19:29):
know, flow it into one of yourother accounts A high yield
savings account would be greatby the way yes.
If you have not opened up yourhigh yield savings account.
Speaker 2 (19:40):
please go ahead and do it.
It literally takes a fewminutes.
That is it, yes.
Speaker 1 (19:42):
We've made over a thousand dollars last year off
of one of our savings accounts,and that is, I mean, the
definition of free money.
Speaker 2 (19:52):
And the thing is too is in America people have a hard
time saving.
In comparison to other firstworld countries we are, you know
, kind of statistically theworst at saving.
So it is a habit that you haveto work on, and once you've
established that good habit ofsavings, everything else is so
much easier.
Whenever I meet with a newpotential client and I can see
they already have that habit ofsavings, I'm like thank you,
(20:14):
lord, because this person isgoing to be so much easier to
work with.
Speaker 1 (20:18):
Yeah, Because it really is like a muscle that you
have to train.
You know, to hey, every monthor every paycheck, or however
many times you get paid, Xamount of dollars goes here, you
know and also stress that anyamount saved is better than
nothing.
Speaker 2 (20:34):
So, like you don't.
If you can't save a hundreddollars, that's fine.
Save 75, save 50, save 25, savefive.
I would rather see you savingfive than zero.
So don't get caught up on theamount being a large number.
Just save something.
Speaker 1 (20:48):
Yeah, even.
I mean and that goes forinvesting as well right, build
the muscle, build the habit ofinvesting $10 every month, you
know, if you don't have 500, ifyou don't have 1000, if you
don't have 5000, that's okay.
But because of compoundinterest, the time is the most
important part, not the amount.
So, if you're starting with $5,and you're, you know, listening
(21:10):
to this and you're in your lateteens, early 20s, that's great,
you know.
Start building that muscle andthen, as your salary increases
early 20s, that's great, youknow start building that muscle
and then, as your salaryincreases, your savings rate can
increase, and then yourinvestments will continue to go
up.
Because I know, if I wasinvesting the way I do now in my
early 20s, you know I startedteaching when I was 22.
And, yeah, I had the 403B, butI wasn't doing anything with it.
(21:33):
I didn't, you know, have theknowledge that I have now.
And, man, am I kicking myself?
Yeah, all right, what is thelast thing you want people to do
?
Speaker 2 (21:44):
schedule a meeting with me or or some other
financial advisor I'll settlefor that, but I think you should
reach out to me first,obviously yeah, yeah, oh go
ahead, no go ahead.
Speaker 1 (21:56):
Well, I was gonna say I think what we've talked about
consistently throughout 2024 ispeople are well intentioned,
right?
We know, if you're listening tothis podcast, you are trying to
improve something about yourfinances.
You're trying to learnsomething new, gain a new
perspective, do something better, different, faster, more
efficient, whatever it is.
(22:17):
You're not just listening to usbecause you like our voices,
you're trying to get somethingout of it.
And so, with thatintentionality, that's great,
but that's only one portion,right, you have to take action.
If you've listened to us say,you should have a high yield
savings account, and it's been ayear and you still have an open
one, that is in action.
If you've been talking about,oh well, I think I need to do
(22:38):
something with my 401k, but Idon't know what.
And you still haven't scheduleda meeting with Brandon, that is
in action.
If you haven't started investingfor your retirement, you know
we are not as lucky as ourparents.
We don't have the pensions.
We're probably not going tohave the Social Security.
We have to be reallyintentional about what our
future is going to look like,and we have to plan for our
(22:59):
future now.
And you know, if you've beenlistening for a while, we want
you to live a great life rightnow while also planning for the
future.
And if you don't know how to dothat on your own, or you don't
have the desire to spend hoursand hours learning how to do it,
then schedule the free consultwith Brandon, because at this
point, if you've been listeningand you like what you hear and
(23:20):
you've gotten to know Brandonand you're still not, you know,
scheduling a call with him,you're just wasting time.
Speaker 2 (23:28):
And the thing is, too , is that this might be, you
know, an extreme take, but Idon't think most people can
handle their personal financeson their own, and that's not due
to a lack of ability, it's dueto a lack of action.
So most people can figure outfrom an intelligence standpoint
what they need to know in someaspect, but consuming
(23:51):
information is great, but it'snot the end goal.
The end goal is the action, andI feel as though most people
lack the ability to holdthemselves accountable, to
commit to the actions, and it'snot due to them not wanting to
improve their life.
It's that you have a thousandother things that are right in
front of your face that you knowtake your time away from doing
(24:11):
everything else.
So, like I said, it's not alack of ability, it's a lack of
action.
And think about how much timeyou've already wasted saying I'm
going to do this, I'm going todo that, I'm going to do this,
I'm going to get to that, I'mgoing to get to that, and it
hasn't happened.
When you work with me, I canguarantee you the one thing
that's going to happen is action, because I'm going to make you
do things.
Speaker 1 (24:32):
Yeah.
Speaker 2 (24:33):
And that's the most important thing is are you doing
what you need to do?
Speaker 1 (24:39):
Yeah, well.
And two I mean we've talkedabout getting a will, getting a
trust, setting up.
You know your beneficiaries,updating your beneficiaries,
getting the high yield savingsaccount, opening this kind of
account.
If you've heard us say all ofthose things and you've thought
to yourself, oh, I need to dothat, oh, I'm going to add that
to my list.
And now it's 2025 and you'relistening to this and you still
(24:59):
haven't done it.
Somebody needs to help you holdyour hand.
Speaker 2 (25:02):
And the thing is, too , is that you know I've come to
this conclusion over years ofbeing in financial services,
that I've seen this firsthand,and our friends out there that
listen to our podcast can attestto this that they're in my
circle of friends.
I talk about these things allthe time, so they're kind of
getting some quote unquote freeadvice by just being around me
(25:23):
and hearing me talk about this,and they're still not doing it.
So it's not a matter of theinformation, because they have
the information, it's the action.
I mean, I do have one friendout there who knows exactly who
he is, if he's listening, andthis was a couple of years ago.
I literally was doing this asan experiment for myself.
I gave him the plan verbatim ofwhat I would do, step by step,
(25:45):
everything that I would do, andyears later he's still not
implemented it.
And think about the money thathe could have grown, the money
that he's wasted, the moneythat's not being maximized.
I mean, it's just sad you knowthat inaction and he's still not
working with me.
Speaker 1 (26:01):
if he knows who he is , does he listen to the podcast?
I don't know.
Speaker 2 (26:03):
Maybe we'll find out, yeah.
Speaker 1 (26:05):
Well, and another call out.
You know, if you have anyquestions about what Brandon can
do, just reach out, slide inour DM, shoot us an email.
We've gotten lots of messagesabout what, about this kind of
insurance, and I'm like.
You know that Brandon can doyour life insurance, your
disability insurance.
He can move all of your old401ks that you've neglected into
(26:25):
an IRA.
You know there are things thathe can do that again, you might
be putting off or just areunaware of what he can do.
Speaker 2 (26:34):
If you have a question about anything that
revolves around your finances,reach out and ask.
If it's not an area that I amwell-versed in or something that
I do, I might know someone thatcan help you so I can provide
you with a referral.
But if it's something that Ican do, then we can have a
conversation to see if it makessense.
I'm not about pushing everyoneto work with me, because it does
have to make sense from bothends.
I have to, you know, has tomake sense from my end, like are
(27:00):
you the type of client that Ican work with successfully and
on your end, am I the type ofadvisor that you trust and would
be open with so that we can besuccessful together?
Speaker 1 (27:07):
Yeah, so take action, schedule the meeting, ask the
questions, get your answers andlet's make 2025 a year of action
.
Speaker 2 (27:17):
Here's one more thing .
If I'm not possibly the advisorfor you, I do also provide you
a list of questions that I wouldrecommend you asking other
advisors that you may beinterviewing.
Speaker 1 (27:25):
Perfect, yes, and we have episodes on that as well.
Red flags and how to DIY yourfinances Can you DIY your
finances?
Go into those files.
We've talked about all of thesethings extensively.
Speaker 2 (27:37):
I'd love you guys to work with me, but obviously, at
the end of the day, I want youto find someone that works for
you so that you can besuccessful.
Speaker 1 (27:44):
Yeah, Perfect, All right.
Well, happy 2025.
We hope your year is off to agreat start and we are here to
help in any way we can.
We'll talk to you soon, Don'tforget Benjamin Franklin said an
investment in knowledge paysthe best interest.
You just got paid Until nexttime.
Thanks for listening to today'sepisode.
(28:14):
We are so glad to have you aspart of our Sugar Daddy
community.
If you learned something today,please remember to subscribe,
rate, review and share thisepisode with your friends,
family and extended network.
Don't forget to connect with uson social media at the Sugar
Daddy Podcast.
Social media at the sugar daddypodcast.
(28:34):
You can also email us yourquestions you want us to answer
for our past the sugar segmentsat the sugar daddy podcast at
gmailcom, or leave us avoicemail through our Instagram.
Speaker 2 (28:42):
Our content is intended to be used, and must be
used, for informationalpurposes only.
It is very important to do yourown analysis before making any
investment based upon your ownpersonal circumstances.
You should take independentfinancial advice from a licensed
professional in connection withor independently research and
verify any information you findin our podcast and wish to rely
upon whether for
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