- Okay, I'm gonna let you in on a little secret.
We love money.
And in today's video we're gonna teach you
how to love your money too.
(upbeat music)
- Hi, I'm Joseph. - And I'm Tasha,
with One Big Happy Life
and we help you find balance, build wealth, and live happy,
everything that you need to create the life that you want.
- When most people think about money
love is probably not the first thing that comes to mind.
But it really should be.
If you're confused or scared about your money right now,
it doesn't have to be that way.
And we're gonna talk about some skills and steps
that you can take to make you fall in love with your money.
- So number one, this was actually not on our list
so I'm going completely off the walls right now.
Joseph's gonna be like what!
Okay, so number one is recognize
that everything is temporary.
So wherever you are financially right now
does not have to be where you stay.
You absolutely can make different choices going forward
to change your financial trajectory.
So this is a temporary state
wherever you are with your money right now.
- Which is a perfect lead-in to really what's number one
and that is everything that you do with your money
is a choice.
So that's why it's just a temporary position
wherever you are because whatever you're doing
with your money,
recognize that you are choosing to do it that way.
So you're not obligated to do anything with your money.
Yes, there will be consequences and changes
depending on what you decide you want to be doing
with your money but as you spend, and as you budget,
you get to deicide hey, this is the direction
that I want my life to be going,
this is how I want to experience life.
I want to experience it with a latte
or I want to experience it with a high savings rate.
But either way whatever you're doing with it
you are getting the autonomy, the choices,
to do that with your money.
- So number two, we want you to watch out
for the negative influences
that could be harming your relationship with your money.
And that includes both societal influences,
so the things that you might read in the news,
the social media accounts that you follow,
even down to the financial gurus that you follows.
Because the things that we hear repeatedly,
they become part of our unconscious thought patterns
and it effects how we feel about ourselves,
how we feel about the world,
and how we feel about our money and our lives.
So be really cautious about consuming any media
that's causing you to feel less empowered about your money,
to feel bad about the financial choices that you have made.
And that also includes being around people
that constantly repeating negative money mindset
or with negative money money mantras
like oh, I'm always broke.
Or, you know, where does my money go,
or you know, like everybody lives paycheck to paycheck.
None of those things are actually true.
Similarly things like debt is dumb, also not true.
Debt is just, it just is.
It's just a fact, it exists.
It's neither good nor bad.
It's the results of it in your life
can come across as good or bad,
but even that is so much about a mindset
and how you choose to perceive those things
as they're happening.
- Number three, take time to really enjoy
what you're spending your money on,
whether that's a purchase of an experience,
or it's paying for your housing and electricity
or if you're buying a thing, food, or clothing.
Whatever it is it's really important
that you enjoy those things
and recognize what your money is really doing for you.
Because that's gonna make you feel good
about making that purchase or spending that money.
And if you're not enjoying it,
that also gives you the feedback to say
well I'm going to do a little bit of a change.
And if you're not thinking about all those purchases
and looking for the enjoyment in it,
then you're not gonna know
whether it's actually there or not.
- Yeah, so as part of Wealth Builders Academy
we have a private Facebook group
where we all interact and people ask questions
and we share our goals and our wins
and the lessons we've learned over the month.
We as a community, no just us.
And so just the other day someone posted about
she was frustrated because her car conked out unexpectedly
and so she had to go out and buy a new car
but she wasn't planning on buying a new car.
So she was really frustrated by that.
And I said, "You know, I completely understand
"that frustration of having to pay for something
"that you weren't planning to pay for right now".
But I also really encouraged her to first of all
enjoy the fact that she's in a financial position
where she is even capable of going out and getting a car,
whether it's with a car payment or financing it or for cash
because there are lots of people that actually can't even
just go out and replace a car
because they don't make enough money,
because they don't have access to credit.
So just being in that financial position is amazing
but I also pointed out to her enjoy your car.
Enjoy your purchase because realistically
if you keep your car like we plan to keep each of our cars
like 10 years on average for our cars,
that means we can expect maybe four or five cars each
for the rest of our lives.
Four or five more times is do we get to have the experience
of buying a car and using our money in that way.
And so it's really important to savor that feeling
because it's not gonna come around again
too many times in your life.
So even the unexpected expenses,
we would love for you to appreciate
that you are capable of handling those things
as they come up even if you weren't expecting them.
And then also just find enjoyment in it
because it is your money being used
to help make your life better.
- Number four, have an abundance mindset.
This comes up a lot when people are talking about budgeting
and they don't want to budget.
And it comes down to their mindset
that when they look what to do with their money
they think that they need to cut everything
and that's what a budget is for.
A budget is to stop you from doing anything
and so that's why people don't really want to budget
because it's just a negative feeling about it.
But the opposite is having this abundance mindset
and things like budgeting
are really you deciding how you want to spend your money.
And you authorizing yourself to spend it
and so there's nothing negative about that.
That's great because you have choices
and you can make those choices ahead of time.
And the other thing that abundance mindset brings
is the idea that you can make more money
and that you can make changes in your life
to then go out and get more money.
So if you don't like your job right now
or you don't like any aspect of what's goin' on
with your money, that's all changeable and you can fix it.
- And so speaking of having a plan for your money,
number six is have a plan for your life.
So the problem that comes up much too easily
is that there are parts of our lives
that are not in alignment.
So they don't actually look the way
that we want them to look.
And so it can be very easy
to try to throw money at the problem.
So we hate our job so what do we do?
We want to treat ourselves outside of work
'cause it's like I work so hard,
I have to put up with all this nonsense at work,
so I deserve to be able to just not have to think
and not say no to myself
because doing this makes me happy.
And so that is why we really encourage you
to have this whole holistic view of your life
and really see what is and isn't working in your life.
If that job is not working,
don't let the job cause you to have unhappy feelings
and do other things with your money
that's going to make you be resentful
about what your money is doing for you.
The solution is you get a new job.
So have a plan for your life
and always work to live in alignment with that plan
so that you can actually use your money
in the way that it is best spent,
which is not trying to fix other problems, right?
It's meant to help enhance your life
and to help you have more
of what it is that you want in your life.
Not to be a band-aid for the parts of your life
that aren't working.
- Yeah, and if you're not planning your life affirmatively,
then what's gonna happen
is your life is going to be planned for you
by outside influences.
So the people around you,
you're gonna start adopting things that they care about
because you haven't decided what you want,
what you care about, and that's not good either.
- So number seven, have financial goals.
So we talked about this in Wealth Builders Academy.
This month our focus is on setting financial goals
and really turning your generalized life goals
into like giving them a dollar amount and prioritizing them.
And so have your financial goals.
You need to have them
so that you know what things you're trying to hit.
And this is particularly important because people feel like
when they don't have financial goals,
when they don't have fixed numbers,
you get into over-saving or over-debt payoff,
so you get out of balance
and things aren't in alignment
and there's also this confusion.
So you don't know if you're making progress
because you haven't decided
what you're actually trying to get to.
So make sure that your financial goals are very specific,
they're measurable, there is a dollar amount
attached to them, and they're also realistic.
- Number eight, tying this all together,
take your budget and base your budget
on those life goals and priorities.
And this, you know, helps with that mindset
where you're not lookin' at your budget
as something you don't want to do.
You're looking at something
that your budget is planning out those life goals,
the things that you want to accomplish.
Or your financial goals.
What are you saving for, what is driving your finances?
And so the budget is now your number picture of that
and how you're going to achieve those things
by allocating the dollars to it.
So are you getting, do you want to get healthier,
lose some weight?
Are you adding a gym membership?
Bam, your gym membership is there
because you want that goal.
If you want to save for retirement, bam,
I'm saving 10%.
Next year I'm saving 15%.
Whatever it is that's what your budget is doing.
- Yeah, when I look at our budget I don't see limitations.
I see okay, this is what I want my life to look like.
How can I make that happen?
And some of that will be financial, right?
So if your budget doesn't cover everything
that you want it to cover yet you can tweak things
so that you can start having more and more things
within your budget.
Also, by planning out several years in advance,
you know, well this year this is my focus.
I'm gonna focus on let's say
paying down $30,000 worth of debt,
and then also taking my kids to Disney.
That's my focus for this year.
And of course saving, 'cause you always gotta be saving.
But next year my focus will be starting my sinking fund
to replace my car.
And so by making those plans in advance
you look at your budget and you're like okay,
this reflects my focus, this reflects my vision,
and I have a plan in place to make it better
and better every single year.
- All right, take these tips
and fall back in love with money or in love with money
so that you really enjoy having a handle
on everything that you're doing.
And we'll see you guys next time.
- Bye! - Bye!
(upbeat music)