December 16, 2025 • 48 mins
Most people think they have a money problem — but what they really have is a disorder problem. In this powerful episode, Kellan sits down with financial expert Wade Reed, creator of the OSOM Method, to dismantle the shame, fear, and confusion surrounding money.
Wade reveals why financial stress isn’t about intelligence, income, or discipline — it’s about operating without a system. Together, he and Kellan expose how couples destroy marriages over financial fog, how people sabotage themselves with guilt instead of clarity, and how reclaiming your financial life starts with building a structure that actually works.
This episode is a call-out and a lifeline:
Stop blaming yourself.
Stop hiding from your numbers.
Stop living in financial panic.
Your freedom begins with the system you follow.
Key Takeaways:
- Why money problems are actually system problems
- How financial fog poisons marriages and self-worth
- Wade’s OSOM Method and how it stops chaos instantly
- Why shame keeps people financially stuck
- The difference between survival mode and clarity mode
- How to build a money system that works even during hard times
- Why you must separate emotion from numbers
- The truth about spending patterns and “accidental financial sabotage”
- How to create peace and predictability with your money
- The spiritual side of financial responsibility
🔥 Want to build a life where your money, message, and purpose finally align? Join the Dream • Build • Write It Webinar — where creators turn clarity into movement. Save your free seat: dreambuildwriteit.com
👉 If you are ready to solve your system problem and implement the OSOM Method for total financial control, connect with Wade Reed now at moneymasterycoaching.com
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:02):
Welcome to the show. Tired ofthe hype about living a dream? It's
time for truth. This is theplace for tools, power and real talk
so you can create the life youdream and deserve your ultimate life.
Subscribe, share, create. Youhave infinite power. Hello, and welcome
(00:29):
to this episode of youfUltimate Life. The podcast designed
specifically to give you thestories, the inspiration, the tools,
guidance necessary to create alife that you love to live every
day. A life of purpose,prosperity and joy. Today, I've got
a special guest, Wade Reed.Welcome to the show. Wade.
(00:50):
Kellan. Thank you so much forhaving me.
You are welcome and I amdelighted to, to have you here. You
know, one of the things Ireally love about doing this is the
opportunity. It's a realopportunity I have to get to hear
hundreds and even thousands ofpeople's stories and participate
(01:10):
in their journey through lifeand what they learn. And I'm sure
this will be no different. Sothanks for being willing to come
and share your heart with us.
Absolutely.
You know, this show is abouthelping people with the tools, the
mindset and the executiontools, the mindset and the execution
(01:31):
to create the life they want.And that might seem difficult and
you have a particularspecialty, so I'm not going to pretend
to summarize or introduce youin that way. Why don't you tell us
the joyful and intentional waythat Wade chooses to add good to
the world and make good things happen.
(01:53):
Yeah, thanks for theopportunity, Kellen. I have been
really driven by a passionregarding financial slavery, you
might call it that, is thatthere's this mindset around money
that people take on, beliefsthat put them in a place of scarcity
and worry and fear. And forsome reason it seems to perpetuate
(02:15):
itself everywhere among allpeoples I've talked to, among my
peers, among family members,among business owner, colleagues
and so forth. And there seemsto be a really almost dark sense
of incapacity. I'm not capableof handling this on my own. I need
somebody else to do it for me.And so somewhere around 20 years
(02:35):
ago. I was really ponderingwhat it was that I needed to do for
my life's work. I was a young20 something kid, married for about
a year or so, around 25 yearsold, actually, no, 23 years old.
This was 20, 25. And my gosh,something just, just kept whispering
(02:56):
at me. All of you listeners,I'm sure you've had that from time
to time, that little sense of,you know, a voice telling you you
need to do something that's alittle uncomfortable at Times, it's,
it's inspiring at other times.And this is one of those that was
kind of inspiring and like,you need to take a personal finance
class, Wade. You need to takea personal finance class. And I was
not really headed thatdirection in my career. I was really
(03:20):
into the physical body. Iwanted to be a physical therapist.
I was going to go intoexercise and sports science. And
I followed this whisper thatwas a complete elective that was
unrelated at all to what myother course curriculum had been
in my undergraduate days, andinvited my wife to join me. We were
about a year married, as Isaid, and she said, okay, let's do
(03:41):
it. And in that class, thefire was lit. I saw people's lack
of awareness around money.Kellen. And These were again, 20
somethings, often single. Anda lot of the concepts, mutual funds,
bank accounts, insuranceproducts, were budgeting. Like all
(04:02):
this stuff was familiar to me,but most people were not familiar
with it. They seemed almostclueless about these things. And
I started looking back oversome of my history as a young kid
at 3 years old, a little bankthat had three compartments in it,
spend, save and give. And froma very young age, I was learning
(04:23):
the importance of separatingour money into different purposes.
My parents had healthydialogue around money. And we had
my mom, I remember keenly as akid, my mom would pull out these
green ledgers and she wouldtrack her budget on this green ledger.
We knew how much was comingin, we knew what went to different
categories. We knew it wasavailable for us kids for school
(04:44):
lunch or for maybe schoolclothes at the beginning of the year.
And I watched my mom have asuccessful experience around money.
My dad was really good aboutmanaging money and it was just a
healthy thing. I didn't knowthat was not common.
I was going to say, do youknow how rare. Kind of an experience
that is Growing up, I had a,you know, we, we had some of that,
(05:09):
certainly not that discipline,but we had, you know, we were taught
to save and to give and to,you know, have spending money and
so forth. So those threecategories, I remember they were
the same. But the disciplineand seeing your parents do that.
Yeah, my, the mystery. I knewwhat I needed to do with my little
money, right. That I earned.
(05:30):
Right.
But their, that was all amystery. And I. So I know often that
we just heard we can't affordthat or, you know, there's limited
this, that the other, but itwas really all a mystery. So that's
really common phrases, right?
The family tends to be unawareof the actual family economy. It's
shrouded in this fog of. Of. Iguess it's a taboo. Like if you know
(05:57):
what we're making, you mightshare it with your friends and they
might share it with theirkids, parents, and then I might get
found out that I'm not doingvery well. And all the shame sort
of experience.
I was going to say the secrecyseems to be around the shame. There
seems to be a. This entireeconomy of judgment that's built
(06:18):
into it. Intimate connectionbetween the money you make and the
worth. And your worth.
Yeah. And it's typically shownon the outward. Right, the, the style
of home you have, the finishesinside your home, the clothes you
wear, the car you drive, maybeeven the job title that you hold.
It creates this Persona ofsuccess or failure. And that's what
(06:42):
I'm talking about when I'mtalking about the slavery aspect
of money. It puts us in aposition where we're. We're trying
to often present ourselves ina different light than. Than we actually
are. And we're often livinginto other people's beliefs about
what we should or shouldn't dowith money instead of our own. We've
kind of lost a sense of selfdiscovery about what I actually want
(07:05):
in life. And one of thereasons I wanted to participate in
your podcast is because weshare the vision of living your ultimate
life, a life that you love tolive every day. And when we're living
by somebody else's standardsof what should or shouldn't be with
regard to how we spend ourmoney, we're a slave.
It's true about everything.Like I am a testament to that. My
(07:28):
own life, I lived with a veryparticular set of this is how you're
supposed to be. And it didn'tjust cover money, it covered everything.
And I don't even rememberfeeling the sense of that I. That
I was not only allowed, butsupposed to discover for myself what
(07:51):
anything meant. It was aframework, all of it, and all the
walls and bars, and some ofthem felt like bars. This is what
you got to do. And you know,like many mine was tied to a particular
religious construct. And ifyou don't do this, you're bad. And
it had the. It had a weightfor me that was even bigger than
(08:13):
the shame that we were justtalking about of not having enough
money. The bad label was likethis incomprehensible weight.
Yeah, it can be heavy, forsure. In fact, I had a client who
once described the feelingthey had about money, that it was
an albatross around theirneck. That would pull them to the
(08:34):
bottom of an ocean. If theyjumped in, they would not be able
to get it off. And part ofthat was related to the debt they
had taken on and some of thebad choices that had that had happened.
Being swayed by other people'sbeliefs about what they should or
shouldn't do with money, whichincluded, you should buy rental real
estate properties, whichhappened to be the wrong time to
buy those properties. Youknow, this is 2008, 2009, 10, when
(08:57):
things were really going badlyand what worked at one point didn't
work anymore. And they justbelieved that it would always work
because somebody said that itwould. So, anyway, this is the sort
of mission that I'm on,Kellen, is that we need to bring
some awareness to the factthat money. Is a construct of society,
(09:20):
really. In its simplest form,it's a means to exchange with one
another. Where we used tobarter, now out of ease, we exchange
with credit card transactions,debit card transactions, physical
cash, Venmo. And we rarelybarter anymore. But ultimately that's
still what it comes down to,is exchanging value one with another.
(09:43):
Right?
And we now have digits on abank account, on a ledger somewhere
that describes our personalworth based on how much we have on
that ledger. And that's just.I think that's the wrong approach
to money. Money is. Money is atool to help us accomplish our life's
mission. We get what we needaccording to the desires that we
(10:05):
have and. Not good or bad.Right. There are people who are certainly
greedy out there. There'scrony capitalism that people get
upset about. I think there'salso a form of sort of righteous
capitalism or consciouscapitalism, you might say, where
people are really looking outfor each other, doing the right thing
for the right reasons, andcreating businesses around that,
(10:26):
solving problems for people. Ithink a lot of that still exists.
And I think we who arelistening to this podcast and people
attracted to live our ultimatelife are probably in that category
where we're trying to reallybring light and truth to the world
and in my case, help removethe feeling of being enslaved to
our money by understandingwhat money is, how it works, and
(10:47):
really how simple it can be.And I've developed a framework about
that that over 20 years now ofworking with a thousand plus clients,
probably 20,000 conversationsI've had over the two decades. I've
seen patterns of what worksand doesn't work. And so my framework,
I call it my awesome MoneyMethod, and that's an acronym, O
(11:09):
S O M. And I was sitting oneDay whiteboarding. And these four
words came to mind. Organize,systemize, optimize, and maximize.
And I was just kind ofbrainstorming. I put those on a whiteboard
out in my hallway, and my sonwalks by and he says, dad, that says,
awesome. I was like, oh, mygosh, you're right, son. You are
(11:33):
awesome. Thank you for that.And so it became my awesome money
method.
Awesome money method. So Iknow that we're going to talk about
more about it, and I also wantto talk a lot about. I know that
you've recently done a book,and I want to talk about that too.
And so I want to dig in just alittle deeper before we get into
the nuts and bolts ofteaching. Because what's interesting
(11:57):
to me is your desire. And you.You acknowledge other people's desire
to solve problems, add good tothe world and everything else. And
what's really fun for me is tosee the infinite number of ways that
people. That we can all dothat, because people have this story
that I don't matter very muchor that everything I have to say
(12:21):
has already been said, sowhat's the point? Or, you know, a
similar expression of that.Sea, that abyss of doubt and the
lie of smallness when thetruth is your particular. Like, there's
a zillion people that talkabout money. We got books and we
got programs and we got SusieOrman and we got Dave Dorkstick,
(12:43):
whatever his name is. I forgotRamsey. You know, we got all these
people telling us, well, wedon't need anybody else. And yet,
having participated in that,your book, and visited with you for
a while. I know from my ownexperience that your voice, your
story, your tools aredifferent than other people's. And
(13:07):
they're different notnecessarily so much in structural
things, but they're imbuedwith the energy of your own experience.
And so when you said that, youknow, trying to add good to the world,
you are, and so are a zillionother people. And I want to encourage
every one of you to do whatyou feel because it is important
(13:29):
and it's necessary. Now youcan teach us.
Okay. I think that's a reallyimportant context. We all have our
own uniqueness that we bringto a topic. And I've not been immune
to that sense of. Well, othershave talked on this topic. What.
What's my role? And I'mfinding more and more. And in fact,
(13:49):
I don't know if you rememberthis. Earlier in the year, we were
together in Pensacola and hada nice evening together, and part
of our conversation wasrelated to the topic of what is it
that drives me in this realmof personal finance. And what it
boiled down to me was not onlythe sense of individual slavery to
money, but also what this doesin a marriage dynamic. Now, I know
(14:10):
not everyone is married andmaybe has been through multiple relationships.
I'm a big fan of the Instituteof Marriage still. I believe that
it has such a really importantfoundational role in society to bring
man and woman together andchildren into a home that can be
raised in love andrighteousness and goodness and be
brought to be creators andvalue creators in the world. And
(14:33):
I've seen so many marriagesbreak as a result of the topic of
money.
I couldn't agree more. And youknow, I'm a big proponent of the
family, even though I've beenthrough my own sets of struggles
with that. But I know, youknow, I've been married now 18 years
this time, and I am justdelightful. I've married, but I actually,
(14:57):
you know, I got married to anangel, so that's the exception perhaps,
but I couldn't agree more. AndI'm grateful that you have, have
also seen and are driven bythe difference it can make as the
world becomes more greedy,more separate, more polarized, and
more everything else. The, therelationship and the together that
(15:19):
you can, togetherness you cancreate by the unity around this one
topic which permeates everyarea of our lives is just really
important.
Yeah. Yeah. Thank you. Back inthe 70s, a man that I followed named
Marvin Ashton wrote thislittle book called One for the Money.
It's a little kind of primeron some principles around money.
(15:41):
And he interviewed a youngcouple and they were just, you know,
in their early twentiespreparing to get married. And he
asked him of the manyquestions he asked, one of them was,
who's going to manage thefamily finances? And they both looked
at each other. I don't know,we haven't talked about it. And of
all the topics that had beenaddressed, maybe their, their family,
(16:04):
how many kids they might have,you know, the jobs that they wanted
to have, whether the wifewould stay at home or not. You know,
even their sex life may havebeen discussed and how that might
be developed, but money hadnot been discussed and who would
manage it. And, and it reallydumbfounded this man. He said, oh
my gosh, like how many, howmany couples? So we looked it up
and statistically back at thatpoint, around 80% of marriages that
(16:27):
ended in divorce claimed moneywas the problem. And today, Fast
forward about 40 somethingyears, it's still at least 50 to
55% who claim money as aprimary reason that they separate.
And so what I'm finding,though, is the couples I've worked
with, and I've worked with,almost all the people I've worked
with, have been married. Manyhave cited that as they've dealt
(16:52):
with this conversationtogether. Oftentimes it's the husband
or the wife who takes lead inthe relationship about money. The
one talking to the financialadvisors, the one a little more interested
in being responsible formanaging transactions and things
that kind of happens, even ifit doesn't get discussed. One tends
to take lead and then theother just relies on that person
and kind of takes a blind earto it.
(17:13):
And.
And, you know, they may decidethey want to buy something or go
somewhere, and the personwho's managing the money doesn't
really see it in the budget orthe spending plan. And so they start
to have this disagreementabout money. And ultimately it boils
down to not having made somedecisions together about their vision
for their life. Each has theirown separate vision, which is beautiful.
(17:33):
And when is that comingtogether again in unity? If you're
married, the idea is that youunify yourselves and become one flesh
to be united in all things.And one of those things is your vision
together of what your familyis to look like, what your future
is to look like, ultimately,even on separate paths, to some extent,
coming together on whatmatters to both of you. So that as
(17:53):
these decisions are made,money is the way we finance it. The
tool of money is how wefinance or make the purchase decision
of the new golf clubs or thehandbag or the trip that we take
or the car or the clothes. Andif we're in misalignment because
we haven't really had theconversation, it creates a rift.
And then oftentimes there'sanger and frustration and it just
(18:16):
gets avoided. And so I seeanother phenomenon of avoidance of
the topic of money inrelationship. But when we have this
conversation together, andbecause I've worked as a financial
coach more than a salesman,most people in the financial world,
unfortunately, because of theway the system is set up, become
salesmen of either investmentsor insurance products. And maybe
(18:37):
it's accounting products andservices, and maybe it's estate planning
or legal products andservices, but ultimately it's. It's.
It's a product of some kind.Well, as a coach, I fell into the
realm of being counselor tosome extent and just being willing
to hear people and provide thecontext for people to go, okay, husband,
this is what you'reexperiencing. Wife this is what you're
experiencing, you know, makeyou make sure each other hears that
(19:00):
and they give them some spaceto hear each other and maybe pare
back and practice somecommunication skills, which, you
know, that wasn't my intendedrole to become a counselor, but you
kind of have to be when you'rein this type of situation because
it's such a hot topic.
Well, that's.
As people come together, theyfinally, like, get each other and
they go, oh, money doesn'thave to be challenging. We can let
it be a unifying thing in ourmarriage instead of a rift.
(19:22):
Well, what a. What a. What athought. I want you to. I'm going
to repeat that because it'ssuch an important thing. Money can
be a unifier and indeed mustbe if you're going to live that ultimate
life. Because if you've gotsomething that is so universal, parcel
as money in terms of itaffecting many, if not all parts
of your relationship. And ifit's not unified you, it's going
(19:48):
to be really hard. You've gotthis great big, you know, elephant
that you're not talking aboutand you just sort of Hope gets fed
every day.
Yep.
You know, hope it doesn'tswing the trunk around and knock
the walls down or whatever. Imean, you know, silly example, but
it is. I've seen it not as amoney advisor at all, but certainly
(20:09):
as a, as a coach who's dealtwith people and had to think about
their businesses and theirmindset and growth opportunities.
So that's all true and great.I love the passion that you're bringing
to this work that you do.
Yeah. Thank you. So again,whether you're married or not, it
doesn't matter. But that's anundergirding thing for me because
(20:31):
it's just such a corefoundational value that I have. So
as an individual, if you'renot married, you may need to have
conversations with loved onesabout circumstances or challenges
you're having. And having goodlanguage about money is going to
be helpful. Having frameworksabout what money is, how it works,
and how to be successful withit will be helpful. So if we want
(20:53):
to go into that framework, letme share with you what the the acronym
stands for. The first one isOrganize and why Organize first,
what I have found is thatthere are so many different financial
documents that we have thatare scattered all over the place.
Imagine, I'm sure everyone hasa junk drawer somewhere in their
(21:15):
home where they just throwtheir, their keys or their extra
little thing, doodads,whatever. If that junk Drawer like
I know it's in there somewhereis often the thing, that little pin
or that little screw or thatlittle, that. That earring that I
found the other day, it's inthere somewhere. So we go rifling
(21:35):
through and we eventually findit. But it takes us quite a bit of
time to do that. If instead wehave a little organizer in there
and little trays thatdifferent size things can go find,
it makes it a lot easier tofind those little trinkets and things
that we're looking for. Well,our financial life is often scattered
in a similar way. Ourinsurance documents are in paper
format or digital format onsome website somewhere. Our tax documents,
(21:59):
what we need to file our taxesis often missing. Our bank account
and credit card statements.Oftentimes I find people are spending
on four or five differentcredit cards and no rhyme or reason
to it, they're just like oneday I spent on this card, another
on this card and whatever, itgets chaotic. The investment accounts,
you know, your 401k or RSP ifyou're in Canada, your IRA accounts,
(22:22):
your individual brokerageaccounts that have the investments
that you're using to try toprepare for your future. If you happen
to have your estate planningdone, where are those documents?
How are they saved? Do youhave a safe at home? Do you have
a safe box at the bank? Do youhave them digital on a computer somewhere?
It just feels kind of overwhelming.
You know, I have to agree whenevery year, and I'm certainly not
(22:45):
going to be a model of this,and it's a good thing I'm not trying
to do what you do every year.When I got to prepare my tax return.
It'S the same thing. It'sscattered all over the place and
I know sort of where it is.And the first day or two is just
spent putting all that crap inone place, right?
Yep, it's. And oftentimes Iuse tax planning and it's one of
(23:08):
the most prominent thingsbecause most people are scared of
tax season. They don't knowhow to file a tax return, don't know
how to read a tax return,don't really know what they should
be providing to their taxpreparer or if you're a business
owner, a cpa, so they canactually do some strategy with you
and help you minimize yourtaxes. Oftentimes there's literally
(23:28):
a grocery bag or a shoeboxfull of receipts that just gets dropped
in the tax preparer's lap andlike, good luck, you know, help me
figure out what I owe. Andthat's really not helpful to anyone
because you're going to missdeductions, you're going to overpay
in taxes if that's the way youdo things. So what I have found over
the years is that if we getorganized first, and it's relatively
(23:52):
simple, we. It'll take sometime, but you log into each of your
insurance providers and yourinvestment account providers and
you download a most recentcopy of your declaration pages or
your. Your investment accountstatement. Usually your tax return
is available in digital formatand create a Dropbox folder or a
(24:14):
Google folder or an icloud orwhatever your cloud drive is. Just
find someone that you useconsistently and create Personal
financial Files, a foldercalled Personal Financial Files.
And then if you don't doanything else but just put it like
the name of what it is first.So like the word tax dash, you know,
whatever that year's taxreturn is, the word investment, or
(24:37):
just shorten it to inv Dash,whatever that, you know, Fidelity
401k account or Charles SchwabBrokerage, and then put ins for insurance
dash and whatever yourinsurance product is, maybe the name
of the company. And you know,if it's a State Farm again in the
United States, State Farm Autoinsurance, State Farm Homeowner's
(25:00):
insurance, or whoever yourcarrier is, just so you know who
it's with and what it is.It'Ll automatically put it alphabetically
for you. Simple namingconvention with a little bit of a
header on there will let youknow what it is and it'll put them
all together. All yourinvestment states statements are
together, all your insurancestatements are together, all your
taxes are together. And thenit's easy. And why this matters is
(25:21):
because when you're organized,it creates clarity. So the role of
getting organized is to createclarity about what you actually have.
And when you're clear on whatyou have, then you can start to make
decisions. It can ease some ofthe stress that you have. And I have
a tool called the Total WealthOrganizer. It's a Microsoft Excel
(25:44):
spreadsheet that I've puttogether where you can take all these
documents that you'veorganized and put them into a single
location, take the data out ofthem and plug them into and easy
to fill out. Spreadsheet. Youdon't have to create it. It's chug
and plug. Just put the numbersin and it'll help you feel like,
okay, now I can not only havethe documents organized, but I have
it in an, in a tool that I canlook at these different sections
(26:09):
of the spreadsheet and go.Okay, here's what my personal financial
statement looks like. The, thevalue of what I own versus what I
owe. I can look at all myinsurance is in one place. I can
look at all my. In fact,here's something I haven't talked
about yet but organizing yourfinancial team, who is my advisor
for this insurance or thisinvestment or this tax situation?
What's their contactinformation? And in the end what
(26:32):
will happen is whoever takeslead on this will feel much more
clear and confident about whatthey have. But then the loved one,
the spouse who's not as keenon managing it, knows where to go
to find the information. Andthen they feel more unified because
now they're both aware ofwhat's there.
I, I can just, I want to justinsert here. It's so true and it's
(26:56):
interesting because I'veadopted different roles in. You know,
I've been married before, butthere was some situations where I,
I was in charge of all themoney and I had filing cabinet and
just manila folders with thosethings on it before we put things
in digital. And as beingmarried to this woman now, Joy, she
(27:16):
really likes that. So I'm nowin the role of. I don't really know
everything that's going on.And so it's interesting to feel that
complete shift. Like I don't.And in some ways I enjoy not having
to worry about it and in otherways, you know, I have to say I,
I actually don't know a bunchof stuff. And so it's funny for me
(27:38):
as you tell this story becauseI've been in both of these roles
so it's funny.
Yeah, I'm sure everyone has tosome extent and. I obviously, maybe
not obviously, but you mighthave guessed I take lead in the finance
in my family.
I would have expected that.
My wife is extremely capable.When we were early on in our marriage,
(28:01):
she did a little bit more ofit than I did. But now her primary
role is stay at home mom andshe takes care of the six children
that we have and she helpswith their educational pursuits.
And I've created ease for herby having these systems in place
so at any time she can knowwhere to look. And okay, we've got
this much in the bank and heywait, I've got this expenditure for
the kids. Is it okay if we dothat? And it's a quick conversation
(28:23):
because we both know we highlyvalue education. So when it's an
educational pursuit or anextracurricular that develops our
kids talents, it's almostalways a yes. Because we know what's
there. It makes it really easybecause the confidence comes with
having that awareness. Sothat's okay. The next piece, once
we have things organized, isto put a system in place, a system
(28:45):
for how to keep those thingsupdated. So on a quarterly basis,
as your statements come in,you can update that file that you've
put together. Maybe you startto create folders, because now you
have multiples of theseparticular statements. So you might
make a folder that saysinvestments and folder that says
insurance. And then withinthat, give it some naming convention
(29:05):
that keeps them organized. Sothe system though is mostly related
to the way we manage theincome and the outflow. You know,
if both of you are working andMaybe you've got W2 income, you know,
wage income, and it's directdeposited into a bank account. Usually
it's going to a checkingaccount is what I found. And the
checking account is like the.When we used to carry cash around,
(29:27):
it would be in the frontpocket, typically maybe the back
pocket if you have a wallet.But it was in our pocket, it was
easily accessible. And usuallyif it's in your pocket, it's available
to what Kellen spend withoutthinking. Yep. And whatever we want,
it's just available. And thechecking account basically acts in
that way for us. In today'sworld, it does.
The debit cards are easy touse and. Same thing.
(29:50):
Yeah. So what's happening isthat we're typically spending every
dollar that comes in and wedon't really have a way to capture
savings for short term or longterm things or to set money aside
for giving. Remember thatthird piece of my three year old
little bank account box?Spend, save and give. So what I have
found is that if we go to thechecking account, we think it's all
(30:11):
available to spend. And so wetypically do that. But we might say,
you know, I got to save forthis car down payment or I've got
to save for paying back adebt, or I've got to save for a down
payment on a house or, youknow, I want to start saving for
retirement or improve theamount of savings going to retirement.
But if our system is currentlygoing to our front pocket of our
pants, which is our checkingaccount, and it's all mentally available
(30:34):
to spend because it's in thataccount, we typically will spend
it. So we gotta adjust theorder of the flow of our money, not
necessarily the amount ofmoney, but the flow of the money.
Okay, so just imagine you'reboth making 50 grand a year. So you
got 100,000 a year householdincome, and it's all going to the
checking account, and you'revirtually spending everything. And
(30:56):
you say, well, we want to savefor something, so let's start putting
500amonth into a savingsaccount. So it goes to the checking
and then of the savingsaccount, and you do it without automation.
You just, okay, well, we gotto move that money over here. But
then maybe you hadn't thoughtabout what your spending needs are
in reality, and so you have topull the money back out of savings.
(31:17):
I see this over and over andover again. We call it kind of the
hamster wheel or the lifestylecreep hamster wheel. What happens
is our income increases, ourspending increases, we want to save,
but we don't have a system forthat. So here's the magic Kellen.
I had a mentor who, in hissecond career, became a financial
coach. So this man's in hislate 70s at the time I met him, and
(31:40):
I said, hey, will you mentorme? I want to know what you've Learned
over your 25 years as a coach,but also as a businessman. What is.
What's most successful withthe flow of money? I said, this is
what I'm having my clients do.They typically go to a checking account,
and then they have them sendit to a savings account automatically.
And it just doesn't seem to beworking. He said, wade, you've got
it wrong. I said, what? You'vegot it wrong. And he started to share
(32:03):
with me this concept of thespending checking account is the
spending accounts, the frontpocket. He said, you literally have
to put it all in a savingsaccount first. Literally send your
direct deposit to a savingsaccount first. He said, by virtue
of this one thing. Savingsaccount says it's for later, checking
(32:24):
account says it's for now. Soif you put it in your savings account
first and then only move outwhat you need to, which requires
that you look at your spendingand go, okay, what is our average
spending every month? And ofthat 100,000 that's coming in, let's
say you need 5,000 of it. Partof it's going to taxes, but you only
need 5,000, but you'retypically spend it all. Well, if
we actually only need 5,000,let's only move 5,000 out into the
(32:47):
checking account. And that waywe know what's available. Even if
we're using a credit card totemporarily delay our expenses, we
know the total amount we canspend on that credit card is, say,
three of the 5,000. The other2,000 is going to come out through
automatic transfer. To pay amortgage and to pay other bills that
can come out of the checking.But you know, it's 5,000. You got
8,000 coming in, 5,000 comingout. Some of the taxes are withheld,
(33:09):
so whatever's left overautomatically stays there. Calendar.
And we save first, literallyevery dollar, which tells us I'm
valuable. The money I'veearned is mine first to keep before
I let anyone else have a callupon it. It's mine. I honor it. I
(33:29):
respect it. I've donesomething of value to receive this,
and now I have to be a stewardover it. I have to make good choices
over it. So I'm going to saveit all first and then carefully decide
what I'm going to spend it on.
You know that. That pieceright there, You've got it all wrong.
Save first and then figure outwhat you really want to move is really
important because when youspend first, then you think, I'm
going to save, and I'll justput whatever's left. And there's
(33:52):
never anything left.
Never anything left.
Yeah. And so that is. I lovethat framing.
And it just slows us down.It's in a different account. It's
kind of out of sight, out ofmind. It's not in the checking account.
When you pull up the bankaccount on our phones, it's in a
different account. So we go,oh, it's not available. I wanted
to spend 500, but that wasjust a whim. It's not in the checking
(34:12):
account. I'm not going tospend it. It just literally causes
us to delay our spendingchoices a little bit, which helps
us say no more often to the.The spontaneous transactions that
aren't.
Right. Right.
You know what I mean?
I do.
So let's. Let's jump to thenext one more on that. On. On my.
In my content, if you want togo look it up. I've got my own podcast
(34:34):
called the Wealth AccelerationPodcast. You can find an episode
where I talk more about thesethings there, too. So S is systemized.
That creates ease. When wehave a system in place that's automated,
that creates ease. So clarityfirst, then ease. The third piece
is optimize. And to optimizeis to get the most efficiency out
(34:56):
of something. So putting thesystem in place helps us optimize
our cash flow or our spendingplan. And we get to keep more, which
then allows us to do what?
Save it. Have investments,grow, do other things. Right.
Pick the trip we want to take,have the money for the down payment,
Fulfill our life's goals.
(35:16):
Right.
Actually, accomplish thembecause there's money available for
that. So we optimize our life,saying, okay, now that I have this
system in place, let's getreally clear on our vision and decide
what's the highest and bestuse of this money. And also, since
we have this awareness, are weoverspending on something? Have we
talked to our insurance agentabout the cost of our insurance?
(35:37):
Could we move from one companyto another and reduce our costs for
the same coverage? Can we putsomething in place now that was missing?
Now that we have some funds todo that, maybe we need to improve
our life insurance. Maybe weneed to pay for the estate plan we've
always been saying we need todo, and we have some funds available
to do that. And that's part ofoptimization, improving and tweaking
the things that we have. Sothat creates efficiency. And the
(36:01):
last part, the M, is maximize.And this is where things get really
fun. Oso are the three mustsbefore you can do maximize, which
is about creating compoundgrowth. And that's where, as you
said earlier, we can buyassets. We can make investments that
might be starting the businessyou've always wanted to start because
(36:22):
you have funds to do that.Maybe it's buying a rental property,
maybe it's buying a duplex. Ifyou want to live in half and have
somebody pay most of yourmortgage for you and have a tenant
next door, upstairs ordownstairs. Maybe it's investing
in somebody else's business.Maybe it's, you know, making some
sort of individual stockpurchase, whatever. Right. You just
have a right to do that andstart to create some compounding
(36:43):
growth on your surplus moneythat's there because you have a system
in place and we learn someresponsibility, and it's a skill
set. By the way, Kellen,becoming an investor isn't automatic.
Nobody will ever care moreabout your money than you. So even
if you try to pass it off tosome investment advisor and ask them
to take care of it for you,they're busy doing other people's
(37:03):
stuff, too, and they will missthings, and they'll make investments
maybe you don't agree with,and there will be money that's lost.
So if you are willing to takesome personal accountability for
your life and the things thatmatter to you, you'll be more likely
to make better investments,and you'll do so slowly and deliberately
and be more likely to besuccessful with that.
It, it. When you describe itthis way, it feels very methodical
(37:25):
and organized, which, ofcourse, is what you intended. And
I can tell you in. In youknow, I've had the opportunity to
read. Read the book that youhave and look at the program. And
I. I felt it then and I feelit now as you describe it, the. The
power of a system to take youfrom one step to the other so it
doesn't feel mysterious orcomplicated. And I felt that then
(37:48):
as I read it, and I feel itnow as you describe that.
I'm glad to hear that it's landing.
Well, then it's just right.
So finally we found each otherearlier this year, and you told me
you had this program to helpwrite a book. And I had been wanting
to do that forever, and Isaid, okay, I'm going to jump into
this group and get this bookwritten. It's been on my heart for
(38:10):
years. And so the book isgoing to be called True Wealth. Replacing
Financial Fear and Worry withConfidence and Capability. And it's
going to have some of mybackstory in there. It's going to
have this framework in thereand a lot of examples of how to apply
(38:31):
the framework. It's got somecase studies of clients that have
been successful in applyingthese things. And. True wealth, though
it's a deliberate choice ofwords, wealth obviously kind of invokes
the idea of money andpreparing for retirement and success
and all that. But true. Whatis true? What is that part? And that
(38:53):
gets at the fact that there'sother four really important areas
of our life. There's ourphysical health. There's our emotional
and intellectual health, thethings that we pursue that are interesting
to us, that develop our mindand help us be more valuable to society.
There's the social aspect.That's the marriage component, the
children, the neighbors, thecolleagues, the community support
(39:14):
that we participate in. Andthen there's the spiritual side of
our lives, our connection withGod or higher power, the motives
that we have to do good in theworld because we believe that there's
a higher purpose than justhuman pleasures. There's more to
it. So those four things, thephysical, mental, spiritual, social,
and did I get them right?Physical, mental, spiritual, social,
(39:37):
those four. Money just helpsus get more of those things. So I
like to remove the roadblockof money, the sense of slavery, so
we can be unshackled and havethe freedom to choose into the life
we love. And those other fourareas, you've defined.
It in a way. Yeah. When yousay true, and you've defined it in
(39:57):
a way that's just. The podcastis purpose, prosperity and joy. And
I use prosperity and sort ofthat same larger context and not
just Cash, it includes that.But it, you know, having been somebody
that made more than they knewwhat to do with and had, you know,
the ladder on the wrong wall,sort of example and, and have it
get to all kinds of stuffthat, you know, I had to fix later.
(40:23):
Money isn't the answer. And sothe concept of true wealth implies
an idea of peace, perspectiveof, you know, being confident and
capable, rather than just apile of cash. Right?
That's exactly it. Yeah. Sothat, that book should be, should
(40:43):
be available about the timethis episode airs mid December. So
that's the goal.
I love it.
Hopefully listeners, if it'snot, there'll be a wait list. If
it is, you can just go grab it.
So what I want you to do nowis I want you to tell people, you
mentioned your podcast. I wantyou to tell people about your show,
your website, where to findyou, because they've heard this.
(41:05):
I have participated in theflow of your explanation. You know,
you've been on the LA talkradio show, and yet I heard a bunch
of stories and examples andthings here that were different,
which we intended. And I wantpeople to know where to find you,
where to get your advice on aregular basis, like where are you
and where do we go to find more.
Yeah, so my website's calledMoney Mastery coaching and that's
(41:28):
a.commoneymasterycoaching.com. you'll
find a lot of resources there.You'll find me on Instagram and Facebook
primarily. I'm on LinkedIn aswell. Feel free to look me up there.
Some, some great stuff'scoming out. I've got a course that's
going to launch associatedwith the book that will go through
this awesome framework andprovide context. You'll have access
(41:50):
to that total wealth organizerthat I, that I mentioned as a part
of that course. I've got aspending tracker and planner available
again on the website or as apackage, depending on how you. You
get in, that helps you trackwhat's going on. You need to have
about 90 days of tracking tobe clear on what the average is for
the monthly spending to putthat system in place. I'm not a huge
(42:13):
believer in tracking everysingle penny every single month.
It gets onerous andchallenging. You can get to a point
where it's, it's prettyconsistent and you just work on averages,
but you need to do it for agood 90 days to get a sense of that.
So you have a tool for thatcalled the spending tracker and planner.
All these things workingtogether. I have this financial organization
Guide that talks. You know, asI mentioned earlier in the organization
(42:35):
part of our conversation, thatsort of structure, I've gotten a
written format. You can get,it's all there. MoneyMasteryCoaching.com
is the primary place to find me.
You know, I can tell youpeople that are listening just there's
lots of people that talk aboutmoney and they're going to tell you
what to do with it. The stuffthat I have heard and read and been,
(42:56):
you know, participated withWade in as he created some of this
is as good or better than anythat I've heard. It's coming from
a place of truth, personalexperience and with a genuine engine
in him to help you create thatsense of peace, control and get over
(43:17):
this fear that we all have,have had in greater and lesser amounts
about money. And even if youhad more money than it never was
a problem, then it's likeignorance, okay, so you can get past
the fear and, or theignorance. And for most of it it's
not ignorance, the fear.Nobody wants to look under the hood
because it's like, oh crap, Idon't want to do that.
(43:38):
You know, it's a mess, it getsa little scary. And I, I'll be honest,
those that it doesn't go awaywhen you have more income. I work
with people in, in low incomebrackets and upper six figure brackets,
sometimes in the millions. Andthere's this sense still of uncertainty
about what's happening withthe money.
I'm laughing because I wasthat guy. You know, I had boatloads
(44:05):
of cash and didn't know whatwas going on. So I was that guy.
Money is not the solution.More money is not the solution. We
have to become morefinancially aware. A higher level
of financial literacy. Mighteven call it a financial iq. You
know, we need to improve thatso we have the confidence. And I
(44:27):
spent nine years working withanother organization, coaching hundreds
and hundreds of small businessowners and I found this to be a missing
piece. We would, we wouldteach them all these tax strategies
and all these cool ways tofree up cash flow and keep more of
what they make. But they oftenstill felt uncertain about what their
actual day to day looked like.And so we hated to talk about budgeting
with that company. And I don'tlove the word budget. I think we
(44:49):
all have some sort of negativevisceral reaction to it. It's like,
oh, that means I'm going to berestricted in what I'm doing. So
I use the word spendingplanning or spending strategy or
cash flow plan or strategy AndI think that eases things a little
bit, but the idea is we take aproactive approach to it.
Yeah. If I pick a goal that Iwant, it's a question of do I really
want it or not. So, no,nobody's going to make you. Nobody's
(45:12):
going to tie your burn yourdebit card. But the question is,
you've made a commitment toyourself. Do you want this or do
you want that? And it, itallows you to make those choices
on purpose instead of accidentally.
Yeah.
And I, I really like that.Yeah. So is there anything else that
(45:33):
we haven't covered that youwant to say? We're, we're, we're
at time.
Yeah.
And I want to make sure you'vesaid everything that you want to,
you want to share.
I, I feel really good aboutwhat we've shared today, Kellen.
I hope the listeners, I hopeyou guys are really feeling a sense
of inspiration about. You canhandle this. Money doesn't have to
be this cloud, this. I call itthe money fog. You know, when we
(45:55):
feel disorganized,everything's here and there and logins.
I don't know where they are inmy papers. I don't know where they
are. I don't know what I'mearning. I don't know what I'm spending.
I don't know what I have in myinvestments. Should I be doing this?
Should I be doing that? I callout the money fog, and it just feels
like we need some light tocome burn off that fog. And that's
what I'm hopeful today willhelp do for you to start to burn
off some of that fog, to havesome ways to get your life organized
(46:18):
so that ease, confidence andcapability takes over from that sense
of fear and worry.
Well, I want you to know, bothfrom your description today and from
what you've taught in thebook, that I can sense that. And
I want to say to thelisteners, it's really not as hard
as you're pretending. Themoney fog comes because me and you,
(46:38):
we're like, oh, I don't wantto do this. It's going to be hard,
and I'm not going to like whatI see. And that might be true for
five minutes, but you can getorganized so you can live in the
fog the rest of your life, oryou can turn on the lights and get
clear.
Yeah.
Wade, thanks for sharingeverything with us today. I really
appreciate it. I, I enjoytalking to you every time.
(46:58):
Love it. Kellen, appreciatebeing here.
I want you to. Listeners,listen to this again. He talked fast
because he just is eager toexplain all the pieces to you and
they're not complicated andthey're not over your pay grade.
And if you choose to remainignorant or if I do, all it means
(47:18):
is I won't know if I'maccomplishing any of my goals. And
then a year or two or a decadelater I'll be like, yeah, have I
made any progress? I don'tknow. So I want to tell you it's
not that hard. And thisunderstanding, this clarity, this
control over this reallyimportant piece of life is a big
(47:39):
tool to move forward andcreate your own ultimate life. Never
hold back and you'll never ask why.
Open your heart.
And this time around, righthere, right now, your opportunity
for massive growth is right infront of you. Every episode gives
(48:00):
you practical tips andpractices that will change everything.
If you want to know more, goto Kellen from flukegarmedia.com
if you want more free tools,go here. Your ultimate life ca subscribe
Share.
Welcome to the show. Tired ofthe hype about living a dream? It's
time for truth. This is theplace for tools, power and real talk
so you can create the life youdream and deserve your ultimate life.
Subscribe, share, create. Youhave infinite power. Hello, and welcome
(00:29):
to this episode of youfUltimate Life. The podcast designed
specifically to give you thestories, the inspiration, the tools,
guidance necessary to create alife that you love to live every
day. A life of purpose,prosperity and joy. Today, I've got
a special guest, Wade Reed.Welcome to the show. Wade.
(00:50):
Kellan. Thank you so much forhaving me.
You are welcome and I amdelighted to, to have you here. You
know, one of the things Ireally love about doing this is the
opportunity. It's a realopportunity I have to get to hear
hundreds and even thousands ofpeople's stories and participate
(01:10):
in their journey through lifeand what they learn. And I'm sure
this will be no different. Sothanks for being willing to come
and share your heart with us.
Absolutely.
You know, this show is abouthelping people with the tools, the
mindset and the executiontools, the mindset and the execution
(01:31):
to create the life they want.And that might seem difficult and
you have a particularspecialty, so I'm not going to pretend
to summarize or introduce youin that way. Why don't you tell us
the joyful and intentional waythat Wade chooses to add good to
the world and make good things happen.
(01:53):
Yeah, thanks for theopportunity, Kellen. I have been
really driven by a passionregarding financial slavery, you
might call it that, is thatthere's this mindset around money
that people take on, beliefsthat put them in a place of scarcity
and worry and fear. And forsome reason it seems to perpetuate
(02:15):
itself everywhere among allpeoples I've talked to, among my
peers, among family members,among business owner, colleagues
and so forth. And there seemsto be a really almost dark sense
of incapacity. I'm not capableof handling this on my own. I need
somebody else to do it for me.And so somewhere around 20 years
(02:35):
ago. I was really ponderingwhat it was that I needed to do for
my life's work. I was a young20 something kid, married for about
a year or so, around 25 yearsold, actually, no, 23 years old.
This was 20, 25. And my gosh,something just, just kept whispering
(02:56):
at me. All of you listeners,I'm sure you've had that from time
to time, that little sense of,you know, a voice telling you you
need to do something that's alittle uncomfortable at Times, it's,
it's inspiring at other times.And this is one of those that was
kind of inspiring and like,you need to take a personal finance
class, Wade. You need to takea personal finance class. And I was
not really headed thatdirection in my career. I was really
(03:20):
into the physical body. Iwanted to be a physical therapist.
I was going to go intoexercise and sports science. And
I followed this whisper thatwas a complete elective that was
unrelated at all to what myother course curriculum had been
in my undergraduate days, andinvited my wife to join me. We were
about a year married, as Isaid, and she said, okay, let's do
(03:41):
it. And in that class, thefire was lit. I saw people's lack
of awareness around money.Kellen. And These were again, 20
somethings, often single. Anda lot of the concepts, mutual funds,
bank accounts, insuranceproducts, were budgeting. Like all
(04:02):
this stuff was familiar to me,but most people were not familiar
with it. They seemed almostclueless about these things. And
I started looking back oversome of my history as a young kid
at 3 years old, a little bankthat had three compartments in it,
spend, save and give. And froma very young age, I was learning
(04:23):
the importance of separatingour money into different purposes.
My parents had healthydialogue around money. And we had
my mom, I remember keenly as akid, my mom would pull out these
green ledgers and she wouldtrack her budget on this green ledger.
We knew how much was comingin, we knew what went to different
categories. We knew it wasavailable for us kids for school
(04:44):
lunch or for maybe schoolclothes at the beginning of the year.
And I watched my mom have asuccessful experience around money.
My dad was really good aboutmanaging money and it was just a
healthy thing. I didn't knowthat was not common.
I was going to say, do youknow how rare. Kind of an experience
that is Growing up, I had a,you know, we, we had some of that,
(05:09):
certainly not that discipline,but we had, you know, we were taught
to save and to give and to,you know, have spending money and
so forth. So those threecategories, I remember they were
the same. But the disciplineand seeing your parents do that.
Yeah, my, the mystery. I knewwhat I needed to do with my little
money, right. That I earned.
(05:30):
Right.
But their, that was all amystery. And I. So I know often that
we just heard we can't affordthat or, you know, there's limited
this, that the other, but itwas really all a mystery. So that's
really common phrases, right?
The family tends to be unawareof the actual family economy. It's
shrouded in this fog of. Of. Iguess it's a taboo. Like if you know
(05:57):
what we're making, you mightshare it with your friends and they
might share it with theirkids, parents, and then I might get
found out that I'm not doingvery well. And all the shame sort
of experience.
I was going to say the secrecyseems to be around the shame. There
seems to be a. This entireeconomy of judgment that's built
(06:18):
into it. Intimate connectionbetween the money you make and the
worth. And your worth.
Yeah. And it's typically shownon the outward. Right, the, the style
of home you have, the finishesinside your home, the clothes you
wear, the car you drive, maybeeven the job title that you hold.
It creates this Persona ofsuccess or failure. And that's what
(06:42):
I'm talking about when I'mtalking about the slavery aspect
of money. It puts us in aposition where we're. We're trying
to often present ourselves ina different light than. Than we actually
are. And we're often livinginto other people's beliefs about
what we should or shouldn't dowith money instead of our own. We've
kind of lost a sense of selfdiscovery about what I actually want
(07:05):
in life. And one of thereasons I wanted to participate in
your podcast is because weshare the vision of living your ultimate
life, a life that you love tolive every day. And when we're living
by somebody else's standardsof what should or shouldn't be with
regard to how we spend ourmoney, we're a slave.
It's true about everything.Like I am a testament to that. My
(07:28):
own life, I lived with a veryparticular set of this is how you're
supposed to be. And it didn'tjust cover money, it covered everything.
And I don't even rememberfeeling the sense of that I. That
I was not only allowed, butsupposed to discover for myself what
(07:51):
anything meant. It was aframework, all of it, and all the
walls and bars, and some ofthem felt like bars. This is what
you got to do. And you know,like many mine was tied to a particular
religious construct. And ifyou don't do this, you're bad. And
it had the. It had a weightfor me that was even bigger than
(08:13):
the shame that we were justtalking about of not having enough
money. The bad label was likethis incomprehensible weight.
Yeah, it can be heavy, forsure. In fact, I had a client who
once described the feelingthey had about money, that it was
an albatross around theirneck. That would pull them to the
(08:34):
bottom of an ocean. If theyjumped in, they would not be able
to get it off. And part ofthat was related to the debt they
had taken on and some of thebad choices that had that had happened.
Being swayed by other people'sbeliefs about what they should or
shouldn't do with money, whichincluded, you should buy rental real
estate properties, whichhappened to be the wrong time to
buy those properties. Youknow, this is 2008, 2009, 10, when
(08:57):
things were really going badlyand what worked at one point didn't
work anymore. And they justbelieved that it would always work
because somebody said that itwould. So, anyway, this is the sort
of mission that I'm on,Kellen, is that we need to bring
some awareness to the factthat money. Is a construct of society,
(09:20):
really. In its simplest form,it's a means to exchange with one
another. Where we used tobarter, now out of ease, we exchange
with credit card transactions,debit card transactions, physical
cash, Venmo. And we rarelybarter anymore. But ultimately that's
still what it comes down to,is exchanging value one with another.
(09:43):
Right?
And we now have digits on abank account, on a ledger somewhere
that describes our personalworth based on how much we have on
that ledger. And that's just.I think that's the wrong approach
to money. Money is. Money is atool to help us accomplish our life's
mission. We get what we needaccording to the desires that we
(10:05):
have and. Not good or bad.Right. There are people who are certainly
greedy out there. There'scrony capitalism that people get
upset about. I think there'salso a form of sort of righteous
capitalism or consciouscapitalism, you might say, where
people are really looking outfor each other, doing the right thing
for the right reasons, andcreating businesses around that,
(10:26):
solving problems for people. Ithink a lot of that still exists.
And I think we who arelistening to this podcast and people
attracted to live our ultimatelife are probably in that category
where we're trying to reallybring light and truth to the world
and in my case, help removethe feeling of being enslaved to
our money by understandingwhat money is, how it works, and
(10:47):
really how simple it can be.And I've developed a framework about
that that over 20 years now ofworking with a thousand plus clients,
probably 20,000 conversationsI've had over the two decades. I've
seen patterns of what worksand doesn't work. And so my framework,
I call it my awesome MoneyMethod, and that's an acronym, O
(11:09):
S O M. And I was sitting oneDay whiteboarding. And these four
words came to mind. Organize,systemize, optimize, and maximize.
And I was just kind ofbrainstorming. I put those on a whiteboard
out in my hallway, and my sonwalks by and he says, dad, that says,
awesome. I was like, oh, mygosh, you're right, son. You are
(11:33):
awesome. Thank you for that.And so it became my awesome money
method.
Awesome money method. So Iknow that we're going to talk about
more about it, and I also wantto talk a lot about. I know that
you've recently done a book,and I want to talk about that too.
And so I want to dig in just alittle deeper before we get into
the nuts and bolts ofteaching. Because what's interesting
(11:57):
to me is your desire. And you.You acknowledge other people's desire
to solve problems, add good tothe world and everything else. And
what's really fun for me is tosee the infinite number of ways that
people. That we can all dothat, because people have this story
that I don't matter very muchor that everything I have to say
(12:21):
has already been said, sowhat's the point? Or, you know, a
similar expression of that.Sea, that abyss of doubt and the
lie of smallness when thetruth is your particular. Like, there's
a zillion people that talkabout money. We got books and we
got programs and we got SusieOrman and we got Dave Dorkstick,
(12:43):
whatever his name is. I forgotRamsey. You know, we got all these
people telling us, well, wedon't need anybody else. And yet,
having participated in that,your book, and visited with you for
a while. I know from my ownexperience that your voice, your
story, your tools aredifferent than other people's. And
(13:07):
they're different notnecessarily so much in structural
things, but they're imbuedwith the energy of your own experience.
And so when you said that, youknow, trying to add good to the world,
you are, and so are a zillionother people. And I want to encourage
every one of you to do whatyou feel because it is important
(13:29):
and it's necessary. Now youcan teach us.
Okay. I think that's a reallyimportant context. We all have our
own uniqueness that we bringto a topic. And I've not been immune
to that sense of. Well, othershave talked on this topic. What.
What's my role? And I'mfinding more and more. And in fact,
(13:49):
I don't know if you rememberthis. Earlier in the year, we were
together in Pensacola and hada nice evening together, and part
of our conversation wasrelated to the topic of what is it
that drives me in this realmof personal finance. And what it
boiled down to me was not onlythe sense of individual slavery to
money, but also what this doesin a marriage dynamic. Now, I know
(14:10):
not everyone is married andmaybe has been through multiple relationships.
I'm a big fan of the Instituteof Marriage still. I believe that
it has such a really importantfoundational role in society to bring
man and woman together andchildren into a home that can be
raised in love andrighteousness and goodness and be
brought to be creators andvalue creators in the world. And
(14:33):
I've seen so many marriagesbreak as a result of the topic of
money.
I couldn't agree more. And youknow, I'm a big proponent of the
family, even though I've beenthrough my own sets of struggles
with that. But I know, youknow, I've been married now 18 years
this time, and I am justdelightful. I've married, but I actually,
(14:57):
you know, I got married to anangel, so that's the exception perhaps,
but I couldn't agree more. AndI'm grateful that you have, have
also seen and are driven bythe difference it can make as the
world becomes more greedy,more separate, more polarized, and
more everything else. The, therelationship and the together that
(15:19):
you can, togetherness you cancreate by the unity around this one
topic which permeates everyarea of our lives is just really
important.
Yeah. Yeah. Thank you. Back inthe 70s, a man that I followed named
Marvin Ashton wrote thislittle book called One for the Money.
It's a little kind of primeron some principles around money.
(15:41):
And he interviewed a youngcouple and they were just, you know,
in their early twentiespreparing to get married. And he
asked him of the manyquestions he asked, one of them was,
who's going to manage thefamily finances? And they both looked
at each other. I don't know,we haven't talked about it. And of
all the topics that had beenaddressed, maybe their, their family,
(16:04):
how many kids they might have,you know, the jobs that they wanted
to have, whether the wifewould stay at home or not. You know,
even their sex life may havebeen discussed and how that might
be developed, but money hadnot been discussed and who would
manage it. And, and it reallydumbfounded this man. He said, oh
my gosh, like how many, howmany couples? So we looked it up
and statistically back at thatpoint, around 80% of marriages that
(16:27):
ended in divorce claimed moneywas the problem. And today, Fast
forward about 40 somethingyears, it's still at least 50 to
55% who claim money as aprimary reason that they separate.
And so what I'm finding,though, is the couples I've worked
with, and I've worked with,almost all the people I've worked
with, have been married. Manyhave cited that as they've dealt
(16:52):
with this conversationtogether. Oftentimes it's the husband
or the wife who takes lead inthe relationship about money. The
one talking to the financialadvisors, the one a little more interested
in being responsible formanaging transactions and things
that kind of happens, even ifit doesn't get discussed. One tends
to take lead and then theother just relies on that person
and kind of takes a blind earto it.
(17:13):
And.
And, you know, they may decidethey want to buy something or go
somewhere, and the personwho's managing the money doesn't
really see it in the budget orthe spending plan. And so they start
to have this disagreementabout money. And ultimately it boils
down to not having made somedecisions together about their vision
for their life. Each has theirown separate vision, which is beautiful.
(17:33):
And when is that comingtogether again in unity? If you're
married, the idea is that youunify yourselves and become one flesh
to be united in all things.And one of those things is your vision
together of what your familyis to look like, what your future
is to look like, ultimately,even on separate paths, to some extent,
coming together on whatmatters to both of you. So that as
(17:53):
these decisions are made,money is the way we finance it. The
tool of money is how wefinance or make the purchase decision
of the new golf clubs or thehandbag or the trip that we take
or the car or the clothes. Andif we're in misalignment because
we haven't really had theconversation, it creates a rift.
And then oftentimes there'sanger and frustration and it just
(18:16):
gets avoided. And so I seeanother phenomenon of avoidance of
the topic of money inrelationship. But when we have this
conversation together, andbecause I've worked as a financial
coach more than a salesman,most people in the financial world,
unfortunately, because of theway the system is set up, become
salesmen of either investmentsor insurance products. And maybe
(18:37):
it's accounting products andservices, and maybe it's estate planning
or legal products andservices, but ultimately it's. It's.
It's a product of some kind.Well, as a coach, I fell into the
realm of being counselor tosome extent and just being willing
to hear people and provide thecontext for people to go, okay, husband,
this is what you'reexperiencing. Wife this is what you're
experiencing, you know, makeyou make sure each other hears that
(19:00):
and they give them some spaceto hear each other and maybe pare
back and practice somecommunication skills, which, you
know, that wasn't my intendedrole to become a counselor, but you
kind of have to be when you'rein this type of situation because
it's such a hot topic.
Well, that's.
As people come together, theyfinally, like, get each other and
they go, oh, money doesn'thave to be challenging. We can let
it be a unifying thing in ourmarriage instead of a rift.
(19:22):
Well, what a. What a. What athought. I want you to. I'm going
to repeat that because it'ssuch an important thing. Money can
be a unifier and indeed mustbe if you're going to live that ultimate
life. Because if you've gotsomething that is so universal, parcel
as money in terms of itaffecting many, if not all parts
of your relationship. And ifit's not unified you, it's going
(19:48):
to be really hard. You've gotthis great big, you know, elephant
that you're not talking aboutand you just sort of Hope gets fed
every day.
Yep.
You know, hope it doesn'tswing the trunk around and knock
the walls down or whatever. Imean, you know, silly example, but
it is. I've seen it not as amoney advisor at all, but certainly
(20:09):
as a, as a coach who's dealtwith people and had to think about
their businesses and theirmindset and growth opportunities.
So that's all true and great.I love the passion that you're bringing
to this work that you do.
Yeah. Thank you. So again,whether you're married or not, it
doesn't matter. But that's anundergirding thing for me because
(20:31):
it's just such a corefoundational value that I have. So
as an individual, if you'renot married, you may need to have
conversations with loved onesabout circumstances or challenges
you're having. And having goodlanguage about money is going to
be helpful. Having frameworksabout what money is, how it works,
and how to be successful withit will be helpful. So if we want
(20:53):
to go into that framework, letme share with you what the the acronym
stands for. The first one isOrganize and why Organize first,
what I have found is thatthere are so many different financial
documents that we have thatare scattered all over the place.
Imagine, I'm sure everyone hasa junk drawer somewhere in their
(21:15):
home where they just throwtheir, their keys or their extra
little thing, doodads,whatever. If that junk Drawer like
I know it's in there somewhereis often the thing, that little pin
or that little screw or thatlittle, that. That earring that I
found the other day, it's inthere somewhere. So we go rifling
(21:35):
through and we eventually findit. But it takes us quite a bit of
time to do that. If instead wehave a little organizer in there
and little trays thatdifferent size things can go find,
it makes it a lot easier tofind those little trinkets and things
that we're looking for. Well,our financial life is often scattered
in a similar way. Ourinsurance documents are in paper
format or digital format onsome website somewhere. Our tax documents,
(21:59):
what we need to file our taxesis often missing. Our bank account
and credit card statements.Oftentimes I find people are spending
on four or five differentcredit cards and no rhyme or reason
to it, they're just like oneday I spent on this card, another
on this card and whatever, itgets chaotic. The investment accounts,
you know, your 401k or RSP ifyou're in Canada, your IRA accounts,
(22:22):
your individual brokerageaccounts that have the investments
that you're using to try toprepare for your future. If you happen
to have your estate planningdone, where are those documents?
How are they saved? Do youhave a safe at home? Do you have
a safe box at the bank? Do youhave them digital on a computer somewhere?
It just feels kind of overwhelming.
You know, I have to agree whenevery year, and I'm certainly not
(22:45):
going to be a model of this,and it's a good thing I'm not trying
to do what you do every year.When I got to prepare my tax return.
It'S the same thing. It'sscattered all over the place and
I know sort of where it is.And the first day or two is just
spent putting all that crap inone place, right?
Yep, it's. And oftentimes Iuse tax planning and it's one of
(23:08):
the most prominent thingsbecause most people are scared of
tax season. They don't knowhow to file a tax return, don't know
how to read a tax return,don't really know what they should
be providing to their taxpreparer or if you're a business
owner, a cpa, so they canactually do some strategy with you
and help you minimize yourtaxes. Oftentimes there's literally
(23:28):
a grocery bag or a shoeboxfull of receipts that just gets dropped
in the tax preparer's lap andlike, good luck, you know, help me
figure out what I owe. Andthat's really not helpful to anyone
because you're going to missdeductions, you're going to overpay
in taxes if that's the way youdo things. So what I have found over
the years is that if we getorganized first, and it's relatively
(23:52):
simple, we. It'll take sometime, but you log into each of your
insurance providers and yourinvestment account providers and
you download a most recentcopy of your declaration pages or
your. Your investment accountstatement. Usually your tax return
is available in digital formatand create a Dropbox folder or a
(24:14):
Google folder or an icloud orwhatever your cloud drive is. Just
find someone that you useconsistently and create Personal
financial Files, a foldercalled Personal Financial Files.
And then if you don't doanything else but just put it like
the name of what it is first.So like the word tax dash, you know,
whatever that year's taxreturn is, the word investment, or
(24:37):
just shorten it to inv Dash,whatever that, you know, Fidelity
401k account or Charles SchwabBrokerage, and then put ins for insurance
dash and whatever yourinsurance product is, maybe the name
of the company. And you know,if it's a State Farm again in the
United States, State Farm Autoinsurance, State Farm Homeowner's
(25:00):
insurance, or whoever yourcarrier is, just so you know who
it's with and what it is.It'Ll automatically put it alphabetically
for you. Simple namingconvention with a little bit of a
header on there will let youknow what it is and it'll put them
all together. All yourinvestment states statements are
together, all your insurancestatements are together, all your
taxes are together. And thenit's easy. And why this matters is
(25:21):
because when you're organized,it creates clarity. So the role of
getting organized is to createclarity about what you actually have.
And when you're clear on whatyou have, then you can start to make
decisions. It can ease some ofthe stress that you have. And I have
a tool called the Total WealthOrganizer. It's a Microsoft Excel
(25:44):
spreadsheet that I've puttogether where you can take all these
documents that you'veorganized and put them into a single
location, take the data out ofthem and plug them into and easy
to fill out. Spreadsheet. Youdon't have to create it. It's chug
and plug. Just put the numbersin and it'll help you feel like,
okay, now I can not only havethe documents organized, but I have
it in an, in a tool that I canlook at these different sections
(26:09):
of the spreadsheet and go.Okay, here's what my personal financial
statement looks like. The, thevalue of what I own versus what I
owe. I can look at all myinsurance is in one place. I can
look at all my. In fact,here's something I haven't talked
about yet but organizing yourfinancial team, who is my advisor
for this insurance or thisinvestment or this tax situation?
What's their contactinformation? And in the end what
(26:32):
will happen is whoever takeslead on this will feel much more
clear and confident about whatthey have. But then the loved one,
the spouse who's not as keenon managing it, knows where to go
to find the information. Andthen they feel more unified because
now they're both aware ofwhat's there.
I, I can just, I want to justinsert here. It's so true and it's
(26:56):
interesting because I'veadopted different roles in. You know,
I've been married before, butthere was some situations where I,
I was in charge of all themoney and I had filing cabinet and
just manila folders with thosethings on it before we put things
in digital. And as beingmarried to this woman now, Joy, she
(27:16):
really likes that. So I'm nowin the role of. I don't really know
everything that's going on.And so it's interesting to feel that
complete shift. Like I don't.And in some ways I enjoy not having
to worry about it and in otherways, you know, I have to say I,
I actually don't know a bunchof stuff. And so it's funny for me
(27:38):
as you tell this story becauseI've been in both of these roles
so it's funny.
Yeah, I'm sure everyone has tosome extent and. I obviously, maybe
not obviously, but you mighthave guessed I take lead in the finance
in my family.
I would have expected that.
My wife is extremely capable.When we were early on in our marriage,
(28:01):
she did a little bit more ofit than I did. But now her primary
role is stay at home mom andshe takes care of the six children
that we have and she helpswith their educational pursuits.
And I've created ease for herby having these systems in place
so at any time she can knowwhere to look. And okay, we've got
this much in the bank and heywait, I've got this expenditure for
the kids. Is it okay if we dothat? And it's a quick conversation
(28:23):
because we both know we highlyvalue education. So when it's an
educational pursuit or anextracurricular that develops our
kids talents, it's almostalways a yes. Because we know what's
there. It makes it really easybecause the confidence comes with
having that awareness. Sothat's okay. The next piece, once
we have things organized, isto put a system in place, a system
(28:45):
for how to keep those thingsupdated. So on a quarterly basis,
as your statements come in,you can update that file that you've
put together. Maybe you startto create folders, because now you
have multiples of theseparticular statements. So you might
make a folder that saysinvestments and folder that says
insurance. And then withinthat, give it some naming convention
(29:05):
that keeps them organized. Sothe system though is mostly related
to the way we manage theincome and the outflow. You know,
if both of you are working andMaybe you've got W2 income, you know,
wage income, and it's directdeposited into a bank account. Usually
it's going to a checkingaccount is what I found. And the
checking account is like the.When we used to carry cash around,
(29:27):
it would be in the frontpocket, typically maybe the back
pocket if you have a wallet.But it was in our pocket, it was
easily accessible. And usuallyif it's in your pocket, it's available
to what Kellen spend withoutthinking. Yep. And whatever we want,
it's just available. And thechecking account basically acts in
that way for us. In today'sworld, it does.
The debit cards are easy touse and. Same thing.
(29:50):
Yeah. So what's happening isthat we're typically spending every
dollar that comes in and wedon't really have a way to capture
savings for short term or longterm things or to set money aside
for giving. Remember thatthird piece of my three year old
little bank account box?Spend, save and give. So what I have
found is that if we go to thechecking account, we think it's all
(30:11):
available to spend. And so wetypically do that. But we might say,
you know, I got to save forthis car down payment or I've got
to save for paying back adebt, or I've got to save for a down
payment on a house or, youknow, I want to start saving for
retirement or improve theamount of savings going to retirement.
But if our system is currentlygoing to our front pocket of our
pants, which is our checkingaccount, and it's all mentally available
(30:34):
to spend because it's in thataccount, we typically will spend
it. So we gotta adjust theorder of the flow of our money, not
necessarily the amount ofmoney, but the flow of the money.
Okay, so just imagine you'reboth making 50 grand a year. So you
got 100,000 a year householdincome, and it's all going to the
checking account, and you'revirtually spending everything. And
(30:56):
you say, well, we want to savefor something, so let's start putting
500amonth into a savingsaccount. So it goes to the checking
and then of the savingsaccount, and you do it without automation.
You just, okay, well, we gotto move that money over here. But
then maybe you hadn't thoughtabout what your spending needs are
in reality, and so you have topull the money back out of savings.
(31:17):
I see this over and over andover again. We call it kind of the
hamster wheel or the lifestylecreep hamster wheel. What happens
is our income increases, ourspending increases, we want to save,
but we don't have a system forthat. So here's the magic Kellen.
I had a mentor who, in hissecond career, became a financial
coach. So this man's in hislate 70s at the time I met him, and
(31:40):
I said, hey, will you mentorme? I want to know what you've Learned
over your 25 years as a coach,but also as a businessman. What is.
What's most successful withthe flow of money? I said, this is
what I'm having my clients do.They typically go to a checking account,
and then they have them sendit to a savings account automatically.
And it just doesn't seem to beworking. He said, wade, you've got
it wrong. I said, what? You'vegot it wrong. And he started to share
(32:03):
with me this concept of thespending checking account is the
spending accounts, the frontpocket. He said, you literally have
to put it all in a savingsaccount first. Literally send your
direct deposit to a savingsaccount first. He said, by virtue
of this one thing. Savingsaccount says it's for later, checking
(32:24):
account says it's for now. Soif you put it in your savings account
first and then only move outwhat you need to, which requires
that you look at your spendingand go, okay, what is our average
spending every month? And ofthat 100,000 that's coming in, let's
say you need 5,000 of it. Partof it's going to taxes, but you only
need 5,000, but you'retypically spend it all. Well, if
we actually only need 5,000,let's only move 5,000 out into the
(32:47):
checking account. And that waywe know what's available. Even if
we're using a credit card totemporarily delay our expenses, we
know the total amount we canspend on that credit card is, say,
three of the 5,000. The other2,000 is going to come out through
automatic transfer. To pay amortgage and to pay other bills that
can come out of the checking.But you know, it's 5,000. You got
8,000 coming in, 5,000 comingout. Some of the taxes are withheld,
(33:09):
so whatever's left overautomatically stays there. Calendar.
And we save first, literallyevery dollar, which tells us I'm
valuable. The money I'veearned is mine first to keep before
I let anyone else have a callupon it. It's mine. I honor it. I
(33:29):
respect it. I've donesomething of value to receive this,
and now I have to be a stewardover it. I have to make good choices
over it. So I'm going to saveit all first and then carefully decide
what I'm going to spend it on.
You know that. That pieceright there, You've got it all wrong.
Save first and then figure outwhat you really want to move is really
important because when youspend first, then you think, I'm
going to save, and I'll justput whatever's left. And there's
(33:52):
never anything left.
Never anything left.
Yeah. And so that is. I lovethat framing.
And it just slows us down.It's in a different account. It's
kind of out of sight, out ofmind. It's not in the checking account.
When you pull up the bankaccount on our phones, it's in a
different account. So we go,oh, it's not available. I wanted
to spend 500, but that wasjust a whim. It's not in the checking
(34:12):
account. I'm not going tospend it. It just literally causes
us to delay our spendingchoices a little bit, which helps
us say no more often to the.The spontaneous transactions that
aren't.
Right. Right.
You know what I mean?
I do.
So let's. Let's jump to thenext one more on that. On. On my.
In my content, if you want togo look it up. I've got my own podcast
(34:34):
called the Wealth AccelerationPodcast. You can find an episode
where I talk more about thesethings there, too. So S is systemized.
That creates ease. When wehave a system in place that's automated,
that creates ease. So clarityfirst, then ease. The third piece
is optimize. And to optimizeis to get the most efficiency out
(34:56):
of something. So putting thesystem in place helps us optimize
our cash flow or our spendingplan. And we get to keep more, which
then allows us to do what?
Save it. Have investments,grow, do other things. Right.
Pick the trip we want to take,have the money for the down payment,
Fulfill our life's goals.
(35:16):
Right.
Actually, accomplish thembecause there's money available for
that. So we optimize our life,saying, okay, now that I have this
system in place, let's getreally clear on our vision and decide
what's the highest and bestuse of this money. And also, since
we have this awareness, are weoverspending on something? Have we
talked to our insurance agentabout the cost of our insurance?
(35:37):
Could we move from one companyto another and reduce our costs for
the same coverage? Can we putsomething in place now that was missing?
Now that we have some funds todo that, maybe we need to improve
our life insurance. Maybe weneed to pay for the estate plan we've
always been saying we need todo, and we have some funds available
to do that. And that's part ofoptimization, improving and tweaking
the things that we have. Sothat creates efficiency. And the
(36:01):
last part, the M, is maximize.And this is where things get really
fun. Oso are the three mustsbefore you can do maximize, which
is about creating compoundgrowth. And that's where, as you
said earlier, we can buyassets. We can make investments that
might be starting the businessyou've always wanted to start because
(36:22):
you have funds to do that.Maybe it's buying a rental property,
maybe it's buying a duplex. Ifyou want to live in half and have
somebody pay most of yourmortgage for you and have a tenant
next door, upstairs ordownstairs. Maybe it's investing
in somebody else's business.Maybe it's, you know, making some
sort of individual stockpurchase, whatever. Right. You just
have a right to do that andstart to create some compounding
(36:43):
growth on your surplus moneythat's there because you have a system
in place and we learn someresponsibility, and it's a skill
set. By the way, Kellen,becoming an investor isn't automatic.
Nobody will ever care moreabout your money than you. So even
if you try to pass it off tosome investment advisor and ask them
to take care of it for you,they're busy doing other people's
(37:03):
stuff, too, and they will missthings, and they'll make investments
maybe you don't agree with,and there will be money that's lost.
So if you are willing to takesome personal accountability for
your life and the things thatmatter to you, you'll be more likely
to make better investments,and you'll do so slowly and deliberately
and be more likely to besuccessful with that.
It, it. When you describe itthis way, it feels very methodical
(37:25):
and organized, which, ofcourse, is what you intended. And
I can tell you in. In youknow, I've had the opportunity to
read. Read the book that youhave and look at the program. And
I. I felt it then and I feelit now as you describe it, the. The
power of a system to take youfrom one step to the other so it
doesn't feel mysterious orcomplicated. And I felt that then
(37:48):
as I read it, and I feel itnow as you describe that.
I'm glad to hear that it's landing.
Well, then it's just right.
So finally we found each otherearlier this year, and you told me
you had this program to helpwrite a book. And I had been wanting
to do that forever, and Isaid, okay, I'm going to jump into
this group and get this bookwritten. It's been on my heart for
(38:10):
years. And so the book isgoing to be called True Wealth. Replacing
Financial Fear and Worry withConfidence and Capability. And it's
going to have some of mybackstory in there. It's going to
have this framework in thereand a lot of examples of how to apply
(38:31):
the framework. It's got somecase studies of clients that have
been successful in applyingthese things. And. True wealth, though
it's a deliberate choice ofwords, wealth obviously kind of invokes
the idea of money andpreparing for retirement and success
and all that. But true. Whatis true? What is that part? And that
(38:53):
gets at the fact that there'sother four really important areas
of our life. There's ourphysical health. There's our emotional
and intellectual health, thethings that we pursue that are interesting
to us, that develop our mindand help us be more valuable to society.
There's the social aspect.That's the marriage component, the
children, the neighbors, thecolleagues, the community support
(39:14):
that we participate in. Andthen there's the spiritual side of
our lives, our connection withGod or higher power, the motives
that we have to do good in theworld because we believe that there's
a higher purpose than justhuman pleasures. There's more to
it. So those four things, thephysical, mental, spiritual, social,
and did I get them right?Physical, mental, spiritual, social,
(39:37):
those four. Money just helpsus get more of those things. So I
like to remove the roadblockof money, the sense of slavery, so
we can be unshackled and havethe freedom to choose into the life
we love. And those other fourareas, you've defined.
It in a way. Yeah. When yousay true, and you've defined it in
(39:57):
a way that's just. The podcastis purpose, prosperity and joy. And
I use prosperity and sort ofthat same larger context and not
just Cash, it includes that.But it, you know, having been somebody
that made more than they knewwhat to do with and had, you know,
the ladder on the wrong wall,sort of example and, and have it
get to all kinds of stuffthat, you know, I had to fix later.
(40:23):
Money isn't the answer. And sothe concept of true wealth implies
an idea of peace, perspectiveof, you know, being confident and
capable, rather than just apile of cash. Right?
That's exactly it. Yeah. Sothat, that book should be, should
(40:43):
be available about the timethis episode airs mid December. So
that's the goal.
I love it.
Hopefully listeners, if it'snot, there'll be a wait list. If
it is, you can just go grab it.
So what I want you to do nowis I want you to tell people, you
mentioned your podcast. I wantyou to tell people about your show,
your website, where to findyou, because they've heard this.
(41:05):
I have participated in theflow of your explanation. You know,
you've been on the LA talkradio show, and yet I heard a bunch
of stories and examples andthings here that were different,
which we intended. And I wantpeople to know where to find you,
where to get your advice on aregular basis, like where are you
and where do we go to find more.
Yeah, so my website's calledMoney Mastery coaching and that's
(41:28):
a.commoneymasterycoaching.com. you'll
find a lot of resources there.You'll find me on Instagram and Facebook
primarily. I'm on LinkedIn aswell. Feel free to look me up there.
Some, some great stuff'scoming out. I've got a course that's
going to launch associatedwith the book that will go through
this awesome framework andprovide context. You'll have access
(41:50):
to that total wealth organizerthat I, that I mentioned as a part
of that course. I've got aspending tracker and planner available
again on the website or as apackage, depending on how you. You
get in, that helps you trackwhat's going on. You need to have
about 90 days of tracking tobe clear on what the average is for
the monthly spending to putthat system in place. I'm not a huge
(42:13):
believer in tracking everysingle penny every single month.
It gets onerous andchallenging. You can get to a point
where it's, it's prettyconsistent and you just work on averages,
but you need to do it for agood 90 days to get a sense of that.
So you have a tool for thatcalled the spending tracker and planner.
All these things workingtogether. I have this financial organization
Guide that talks. You know, asI mentioned earlier in the organization
(42:35):
part of our conversation, thatsort of structure, I've gotten a
written format. You can get,it's all there. MoneyMasteryCoaching.com
is the primary place to find me.
You know, I can tell youpeople that are listening just there's
lots of people that talk aboutmoney and they're going to tell you
what to do with it. The stuffthat I have heard and read and been,
(42:56):
you know, participated withWade in as he created some of this
is as good or better than anythat I've heard. It's coming from
a place of truth, personalexperience and with a genuine engine
in him to help you create thatsense of peace, control and get over
(43:17):
this fear that we all have,have had in greater and lesser amounts
about money. And even if youhad more money than it never was
a problem, then it's likeignorance, okay, so you can get past
the fear and, or theignorance. And for most of it it's
not ignorance, the fear.Nobody wants to look under the hood
because it's like, oh crap, Idon't want to do that.
(43:38):
You know, it's a mess, it getsa little scary. And I, I'll be honest,
those that it doesn't go awaywhen you have more income. I work
with people in, in low incomebrackets and upper six figure brackets,
sometimes in the millions. Andthere's this sense still of uncertainty
about what's happening withthe money.
I'm laughing because I wasthat guy. You know, I had boatloads
(44:05):
of cash and didn't know whatwas going on. So I was that guy.
Money is not the solution.More money is not the solution. We
have to become morefinancially aware. A higher level
of financial literacy. Mighteven call it a financial iq. You
know, we need to improve thatso we have the confidence. And I
(44:27):
spent nine years working withanother organization, coaching hundreds
and hundreds of small businessowners and I found this to be a missing
piece. We would, we wouldteach them all these tax strategies
and all these cool ways tofree up cash flow and keep more of
what they make. But they oftenstill felt uncertain about what their
actual day to day looked like.And so we hated to talk about budgeting
with that company. And I don'tlove the word budget. I think we
(44:49):
all have some sort of negativevisceral reaction to it. It's like,
oh, that means I'm going to berestricted in what I'm doing. So
I use the word spendingplanning or spending strategy or
cash flow plan or strategy AndI think that eases things a little
bit, but the idea is we take aproactive approach to it.
Yeah. If I pick a goal that Iwant, it's a question of do I really
want it or not. So, no,nobody's going to make you. Nobody's
(45:12):
going to tie your burn yourdebit card. But the question is,
you've made a commitment toyourself. Do you want this or do
you want that? And it, itallows you to make those choices
on purpose instead of accidentally.
Yeah.
And I, I really like that.Yeah. So is there anything else that
(45:33):
we haven't covered that youwant to say? We're, we're, we're
at time.
Yeah.
And I want to make sure you'vesaid everything that you want to,
you want to share.
I, I feel really good aboutwhat we've shared today, Kellen.
I hope the listeners, I hopeyou guys are really feeling a sense
of inspiration about. You canhandle this. Money doesn't have to
be this cloud, this. I call itthe money fog. You know, when we
(45:55):
feel disorganized,everything's here and there and logins.
I don't know where they are inmy papers. I don't know where they
are. I don't know what I'mearning. I don't know what I'm spending.
I don't know what I have in myinvestments. Should I be doing this?
Should I be doing that? I callout the money fog, and it just feels
like we need some light tocome burn off that fog. And that's
what I'm hopeful today willhelp do for you to start to burn
off some of that fog, to havesome ways to get your life organized
(46:18):
so that ease, confidence andcapability takes over from that sense
of fear and worry.
Well, I want you to know, bothfrom your description today and from
what you've taught in thebook, that I can sense that. And
I want to say to thelisteners, it's really not as hard
as you're pretending. Themoney fog comes because me and you,
(46:38):
we're like, oh, I don't wantto do this. It's going to be hard,
and I'm not going to like whatI see. And that might be true for
five minutes, but you can getorganized so you can live in the
fog the rest of your life, oryou can turn on the lights and get
clear.
Yeah.
Wade, thanks for sharingeverything with us today. I really
appreciate it. I, I enjoytalking to you every time.
(46:58):
Love it. Kellen, appreciatebeing here.
I want you to. Listeners,listen to this again. He talked fast
because he just is eager toexplain all the pieces to you and
they're not complicated andthey're not over your pay grade.
And if you choose to remainignorant or if I do, all it means
(47:18):
is I won't know if I'maccomplishing any of my goals. And
then a year or two or a decadelater I'll be like, yeah, have I
made any progress? I don'tknow. So I want to tell you it's
not that hard. And thisunderstanding, this clarity, this
control over this reallyimportant piece of life is a big
(47:39):
tool to move forward andcreate your own ultimate life. Never
hold back and you'll never ask why.
Open your heart.
And this time around, righthere, right now, your opportunity
for massive growth is right infront of you. Every episode gives
(48:00):
you practical tips andpractices that will change everything.
If you want to know more, goto Kellen from flukegarmedia.com
if you want more free tools,go here. Your ultimate life ca subscribe
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