Wealth and Wisdom Wednesdays

And welcome to Wealth Wisdom Wednesdays Cadre. It's 6:30pm Pacific or 6:28pm Pacific. And we're going to be talking about mindful making intentional making mindful intentional spending. So. Or making spending mindful and intentional. And what do I mean by that? Well, what I mean is, as you can see, it's nice and windy here. Look at that sunshine. Look at the weather. Look at the garden. Oh, it's beauty out here. And the hockey games on right now. So I'm gonna keep this live quite brief because us Canadians are watching Florida vs Edmonton Oilers right now.

So it's a good game. But going back to mindful spending, making our spending mindful, intentional, super important and kind of like my meditation challenge that I'm doing right now for all of you to better our mind, better equip our mind to have a tool to manage and regulate emotion. Similarly, with our spending, we can be more mindful of how we spend our money and and be more intentional with where we spend our money because it can be an empowering thing to spend our money in particular areas. Like like for instance, in our monthly budget.

Myself and my wife, I consider it to be part of our monthly budget and our spending to come out of our account for investing. Right. Either automated an automated investment plan. Right. For your if you're from the US a 401k money comes off the check automatically. A lot of companies offer that or a savings account to come off your check paycheck automatically. You can go into your bank or you can go to your bank online and have money automatically go into a savings account from your bank account each month into a savings account without going to the bank.

There's lots of ways of being more intentional with your spending and then even you can set up ways to get to the root. Rachel welcome to the live. Thanks for tuning in. Another thing that people do, kind of a forced savings habit, more intentional spending, is when they go to the grocery store. Every time they spend money, 5 bucks, 5 to $10 extra or a couple pennies or $2 extra will come off of that grocery shop and will go automatically into like a savings account too. It's kind of like a forced savings habit through your regular spending anyway.

There's lots of ways you can do it. But the more that you animar welcome to the live. Thanks for tuning in. The more that you can automate and pre schedule. Good evening, Anwar Welcome. The more that you can automate and schedule things, the less of a headache, the less stressed you will be because your Your financials will be a lot more organized and it's interesting. So my dad has OCD with cleaning. Thanks for your golden nuggets. Yeah, get to the root, Rachel. Yeah, always, always trying to give you guys value.

Value where I can. And because of my financial background, like, it's, it's like second nature to me and because I've always had a passion for it. So I'm, I'm glad that I'm, that I'm helping and providing value any way I can. So appreciate it. Thanks for your feedback. So, yeah, like going back to my dad. Hey, Speak Wonder. Welcome. Thanks for joining live. My dad has OCD for cleaning. I have OCD for finance. It's kind of interesting. So I have OCD for keeping my financials clean and clean cut very.

I automate things. I'm meticulous with, with my numbers. Then I'm, you know, I basically run a weekly budget with my wife for all of our financials. And that's what helps me keep our, keep us more as mindful spenders and more intentional with our spending and where we spend our money. So the, here's the, here's the, here's the kicker, too. You don't have to be a gazillionaire to be impactful with your financial decision making. So let me say that one more time. You don't have to be a millionaire necessarily to live like a millionaire.

Because contrary to popular belief, millionaires don't typically spend a lot of money. They're just good at managing the money that they have and growing that money. And then, and then the decisions that they make over a long period of time, they've been very good at delayed gratification. Now, although I'm not a millionaire yet, through the books that I've read and the people that I interact with, the connections that I'm making, the connections that I have made, I know I'm on that trajectory down the road because I want to make the world a better place, number one.

Number two, I want to impact people's lives in a huge way. And the way I do that personally is through mind, body and soul optimization content. Now, with my financial background, plus with being on social media for the last five plus years, building a blog, building a podcast, building, you know, out my YouTube channel, it's been, it's been a organized mess kind of a thing. It's been all over the place at times, but over time, you start to put the pieces together, you start to get more organized and things start to make more sense.

Like Steve Jobs always said you can't connect the dots looking forward. You can only connect the dots looking backward or from, from backwards to forwards. Oh yeah, great question. Get to the root, Rachel. My number one book that I started with age 11 was by Robert T. Kiyosaki, Rich Dad, Poor Dad. So that was just the regular one, Rich Dad, Poor dad, like just for adults. And then he made another one that was Rich Dad, Poor dad for teens. So anyone in this live right now that's tuning in that has kids get them to read that first.

S. and other places, Asia, Europe are different across the grow across, across the globe, principles are the same for the same principles can apply globally to how you manage your money, how you invest your money. The strategy and all that might differ, but the principles in that book, you will learn a lot from that and you will gain so much wisdom from that. And that was my first book that I read that was super, super beneficial. So highly recommend that one. And then I'd say, God, there's a Canadian stock investor, he has scored like the highest score on his exam for.

There's an exam here in Canada for financial services. It was for. To get his brokerage license or something like that, or I can't remember exactly what it was called, but he scored the highest on like 90 or something like that. And he's, his name's like David Chilton, the wealthy barber. That was a really, really good read too. Talks all about again utilizing your 401k if you're in the US or RSP if you're in Canada. Force tax savings for Savings habit. Automating your savings. Yeah, yeah, definitely.

So, Robert T. Kiyosaki, Rich Dad, Poor Dad, David Chilton, the wealthy barber. There's also the Wealthy Barber returns. I kind of went backwards. I. I read the wealthy Barber returns first and then his original, because his original was from the early 2000s or the 90s or something like that. And then he did like a remake in like 2018 for the wealthy Barber Returns. And basically the premise of that book, if sounds like you've read it, is he. Yeah, he has a barber that does hair and then he teaches the barber about finance and then the barber applies the teachings of David and then he's only making like 50, 60 GS a year.

50 or 60 K a year. But he's so meticulous with his money and he does exactly what David says and then he becomes a millionaire eventually. So that's the case. That's a total real Life case study that doesn't matter what line of work you're in, whether you're a business owner or whether you're just employed and you just prefer working. You don't you want the headache of having a business? Yep, exactly. Getting to the root. Anyone become rich. Anyone can become wealthy whether you're in business or not.

It's just our financial decisions that we make outside of work. Right. And utilizing the power of intention. Utilizing the power of. Yeah. Intentional spending and mindful spending. Just like when we're eating, right? If we're gonna gorge and eat our food, we're not gonna feel so good. And then similarly, if we gorge when we spend like we spend way too much money, we're not gonna feel so good. It's gonna be like a hangover after we spend that money. If we, especially if we spend money on stuff like alcohol, partying, like stuff that's not really.

It's gonna give us short term gratification, but it's gonna. So in the short term, it'll be gratifying and maybe fun in the moment, but then long term you'll just feel like you just wasted a bunch of time and a bunch of money. So that's kind of how the way I like to look at things is. Okay, if I make this decision, is this decision gonna be something that's going to benefit me in the long term or is it just going to feel good in the, in the short term, in the moment? Because if it's just in the short term, in the moment, and again, you got to balance your decision making for you.

But like for instance, I got a. I had an addiction on bad habits. Spend so much money on things. Yeah. Yeah. You learned the hard way. Right. I. I definitely spent some, some money on things and racked up my line of credit to 21k and that, that. So I've been in it. I've been in. And I know exactly how it feels. And I'm someone personally that doesn't like little to no debt at all. And the debt. And the debt that I do carry, I like to keep very minimal. And the debt that I do carry is only to be putting more value in the house, number one.

Or number two. Yeah. To create another asset. So, yeah. Too many credit cards. Yeah. Credit cards can be an absolute financial cash flow drainer. So. But again, there's, there's ways that you can manage credit card debt. You can pay it down with a line of credit because you'll have more time. Right. Lower interest rate with a line of Credit or a loan, depending on how you need to do it. So again, talk to your financial advisor. I'm a former financial advisor, I'm in insurance, so different industry.

But I spent five and a half years in three, three different banks, Canadian banks. So I definitely know a thing or two for sure. But let's leave it there. Benign minutes or so. So again, mindful and intentional spending, it'll make you feel a lot better. It's these small incremental habits that we repeat daily that will put us on the track going into morning when we cut ties. Yeah, they do. Yeah. And funny thing, when you're struggling and you're racking up debt with your credit cards or anything, or you're owe money on your house, you're, you're behind on mortgage payments.

Yep, yep. They, they're calling you relentlessly to. Because you owe money. And then similarly, when. Or yeah, they saw, they stop calling when you owe too much money because you don't qualify anymore. But then when you're, you've paid off all your debts, your credit score skyrockets again and then the phone won't stop ringing. They throw money at you. So listen, listen your intuition, pay attention to those things. Because, you know, it's a funny thing how that works, how the banks can, you know, the phone won't ring at all if you owe any too much money or if you've had a bankruptcy or.

And then all of a sudden the phone will ring off the hook as soon as you're in a hugely beneficial financial position to the bank. So remember that. So thanks for tuning into this live and stay tuned for Sunday Spark sessions on Sunday. Ciao. Have a fabulous evening. Cadre Spear and I like to leave it with this meditation that I always do. And for the gratitude meditation, may you be healthy, may you be happy, and may you be at peace.