1
00:00:00,359 --> 00:00:02,353
And so it's just taking that first step

2
00:00:02,353 --> 00:00:05,384
and understanding what the relationship is as an

3
00:00:05,384 --> 00:00:07,081
of money is as a tool

4
00:00:07,553 --> 00:00:09,547
and then saying, I'm going to use this

5
00:00:09,547 --> 00:00:10,047
tool

6
00:00:10,425 --> 00:00:12,919
to... If we're in a bad spot, fix

7
00:00:12,977 --> 00:00:14,891
where I'm at right now, and if we're

8
00:00:14,891 --> 00:00:17,938
just trying to improve things, create goals that

9
00:00:17,938 --> 00:00:20,173
can... That we can move forward to achieve

10
00:00:20,173 --> 00:00:21,371
to really improve their life.

11
00:00:24,884 --> 00:00:27,293
Welcome to Balancing Life's issues the podcast I'm

12
00:00:27,293 --> 00:00:29,521
your host Kai. And today, we're highlighting B

13
00:00:29,521 --> 00:00:32,624
I trainer, Garrett Sore, a financial adviser in

14
00:00:32,624 --> 00:00:34,788
the Ultra high network worth space. It's However,

15
00:00:34,947 --> 00:00:36,542
as a teacher at heart, he provides the

16
00:00:36,542 --> 00:00:38,933
insight and principles needed for everyone to reach

17
00:00:38,933 --> 00:00:41,404
their money goals and live an abundant mindset

18
00:00:41,404 --> 00:00:43,733
to break negative money habits. And learn the

19
00:00:43,733 --> 00:00:45,811
traits of the wealthy. Welcome to the podcast,

20
00:00:45,971 --> 00:00:47,569
Garrett. I appreciate it. Thanks for having me.

21
00:00:47,729 --> 00:00:49,247
Of course, and it's always nice to meet

22
00:00:49,247 --> 00:00:50,846
another sore and I have to ask is

23
00:00:50,846 --> 00:00:53,327
that Danish German Heritage or what's going on

24
00:00:53,327 --> 00:00:55,627
there? It's the Danish. Yeah. We're where I

25
00:00:55,627 --> 00:00:57,611
think we're third or third generation fourth generation

26
00:00:57,611 --> 00:00:59,118
here in the states for for that. So,

27
00:00:59,277 --> 00:01:00,015
yeah, pretty

28
00:01:00,404 --> 00:01:02,079
Same same same on my side of the

29
00:01:02,079 --> 00:01:04,254
family, the en, I believe makes it.

30
00:01:04,711 --> 00:01:06,226
So anyway so You know. Not a lot

31
00:01:06,226 --> 00:01:08,061
of people know that. So, yeah, we're we're

32
00:01:08,061 --> 00:01:09,656
we're the people that have our name spelled

33
00:01:09,656 --> 00:01:12,612
wrong our entire lives and right. Yeah. Yep.

34
00:01:12,930 --> 00:01:13,088
Yep.

35
00:01:14,041 --> 00:01:16,186
So please tell us more about, you know,

36
00:01:16,424 --> 00:01:18,568
who you are what you do and specifically

37
00:01:18,568 --> 00:01:20,895
the types of of of trainings that you

38
00:01:20,895 --> 00:01:21,694
deliver for Bla.

39
00:01:22,415 --> 00:01:25,055
Definitely. So the types of training, I focus

40
00:01:25,055 --> 00:01:25,935
mostly on,

41
00:01:26,895 --> 00:01:27,395
financial

42
00:01:27,947 --> 00:01:30,494
kind of the relationship between finance and mental

43
00:01:30,494 --> 00:01:31,051
health as well.

44
00:01:31,767 --> 00:01:34,393
My background, I actually right out of high

45
00:01:34,393 --> 00:01:35,920
school and everything like I had a I

46
00:01:35,920 --> 00:01:37,511
had a business that I was hoping run

47
00:01:37,511 --> 00:01:38,307
for a little while.

48
00:01:38,943 --> 00:01:40,954
That was great. It was early 2 thousands

49
00:01:41,011 --> 00:01:41,966
pre 2008.

50
00:01:42,696 --> 00:01:44,605
Of course, 2008 happened, and a lot of...

51
00:01:44,924 --> 00:01:46,117
My business just like a lot of other

52
00:01:46,117 --> 00:01:47,707
business kind of went down.

53
00:01:48,264 --> 00:01:50,571
Is that the kind an initial financial crisis.

54
00:01:51,384 --> 00:01:53,382
That was yes. 2008. Right? 1 of the

55
00:01:53,382 --> 00:01:55,220
worst financial crisis that we'd seen since the

56
00:01:55,220 --> 00:01:55,859
great depression.

57
00:01:56,818 --> 00:01:58,656
I mean, the the markets went down 40

58
00:01:58,656 --> 00:02:01,228
percent. Businesses were were going under left and

59
00:02:01,228 --> 00:02:02,586
right. It was just a really bad time.

60
00:02:02,826 --> 00:02:03,864
I'd been out of high school for a

61
00:02:03,864 --> 00:02:07,001
couple years. Didn't really understand what was happening

62
00:02:08,186 --> 00:02:09,772
especially to the business that that I was

63
00:02:09,772 --> 00:02:11,674
in. And so, you know, I like, I

64
00:02:11,674 --> 00:02:12,864
to go to school. I need to learn

65
00:02:12,864 --> 00:02:15,656
about this stuff. And you know, everyone kinda

66
00:02:15,656 --> 00:02:17,327
knows. I I didn't have the money to

67
00:02:17,327 --> 00:02:18,362
pay for school. So I was like, well

68
00:02:18,362 --> 00:02:20,272
the military won't pay for school. Right? So...

69
00:02:20,511 --> 00:02:20,590
Yeah.

70
00:02:21,545 --> 00:02:23,694
So I went talked to all the different

71
00:02:23,694 --> 00:02:26,094
recruiters and I told my recruiter as... I

72
00:02:26,094 --> 00:02:27,922
was gonna white knuckle my way through 3

73
00:02:27,922 --> 00:02:29,829
years of the army and then go to

74
00:02:29,829 --> 00:02:30,067
school,

75
00:02:30,703 --> 00:02:32,546
go to college full time. But I ended

76
00:02:32,546 --> 00:02:34,931
up spending 10 years active duty in the

77
00:02:34,931 --> 00:02:37,396
wow. Really really changed your your life once

78
00:02:37,396 --> 00:02:39,543
you were in. It changed a lot. I

79
00:02:39,543 --> 00:02:40,656
mean, we're my perspective,

80
00:02:41,451 --> 00:02:43,784
just I actually enjoyed when I did while

81
00:02:43,944 --> 00:02:45,864
I was in, it really gave me a

82
00:02:45,864 --> 00:02:46,745
lot of structure,

83
00:02:47,144 --> 00:02:48,504
just a lot of things that I needed

84
00:02:48,504 --> 00:02:49,465
especially at a young age.

85
00:02:50,278 --> 00:02:52,192
I finished my degree while I was in

86
00:02:52,192 --> 00:02:53,866
the military as well in active duty, so

87
00:02:53,946 --> 00:02:56,099
I had an undergraduate in a statistics and

88
00:02:56,099 --> 00:02:58,253
accounting. And so I had this kind of

89
00:02:58,253 --> 00:03:00,577
finance focus I didn't really know what I

90
00:03:00,577 --> 00:03:01,691
wanted to do with it.

91
00:03:02,407 --> 00:03:04,395
I had some mentors kinda later on in

92
00:03:04,395 --> 00:03:06,384
my career that actually pushed me towards the

93
00:03:06,384 --> 00:03:06,884
personal

94
00:03:07,259 --> 00:03:07,816
financial side.

95
00:03:08,308 --> 00:03:10,213
Which I'm very thankful for that I didn't

96
00:03:10,213 --> 00:03:12,595
go onto the accounting side. I because it

97
00:03:12,595 --> 00:03:14,262
turns out I wouldn't have had the... There's

98
00:03:14,262 --> 00:03:15,532
the right personality for that,

99
00:03:16,583 --> 00:03:18,338
And so I I did more of the

100
00:03:18,338 --> 00:03:20,093
financial planning side. I finished my,

101
00:03:20,971 --> 00:03:22,806
certification and financial planning. I'm a certified financial

102
00:03:22,806 --> 00:03:23,125
planner.

103
00:03:23,698 --> 00:03:25,692
I've got an Mba in finance and accounting,

104
00:03:25,852 --> 00:03:28,165
And I am a certified exit planning adviser.

105
00:03:28,803 --> 00:03:30,797
For the past couple of years, I've been

106
00:03:30,797 --> 00:03:32,871
working for an accounting company.

107
00:03:33,523 --> 00:03:34,001
Where

108
00:03:34,399 --> 00:03:36,786
we focus on working with business owners that

109
00:03:36,786 --> 00:03:39,094
are looking to exit their business. So they're

110
00:03:39,094 --> 00:03:40,819
looking to sell their business in some way

111
00:03:40,939 --> 00:03:42,845
or harvest the value in their business in

112
00:03:42,845 --> 00:03:45,228
some way. And they'll bring us along with

113
00:03:45,228 --> 00:03:45,966
their Cpa,

114
00:03:46,420 --> 00:03:48,485
they're... We've got valuation attorneys. We got all

115
00:03:48,485 --> 00:03:50,685
the, kind of the whole team aspect or

116
00:03:50,884 --> 00:03:52,882
to come around these business owners help them

117
00:03:52,882 --> 00:03:54,560
go through their process of selling their business

118
00:03:54,560 --> 00:03:56,798
and then manage their assets on the back

119
00:03:56,798 --> 00:03:58,716
end. So we also do private wealth management

120
00:03:58,716 --> 00:04:00,804
and everything like that. Wow. So in in

121
00:04:00,804 --> 00:04:03,748
the event of you know, exiting a business,

122
00:04:04,465 --> 00:04:05,977
are there multiple parties involved?

123
00:04:06,534 --> 00:04:08,620
Sometimes? Oh 0, yeah. Yeah. It's... I mean,

124
00:04:08,779 --> 00:04:10,214
it's a it's a huge part. And I

125
00:04:10,214 --> 00:04:12,605
mean, outside of what we don't provide, depending

126
00:04:12,605 --> 00:04:13,880
if they're gonna do something like an M

127
00:04:13,880 --> 00:04:16,129
and A, mergers an acquisition. If they're bringing

128
00:04:16,129 --> 00:04:18,850
in private equity, private capital, something along those

129
00:04:18,850 --> 00:04:19,009
lines.

130
00:04:19,730 --> 00:04:22,449
I mean, you'll you'll have anywhere from 3

131
00:04:22,449 --> 00:04:24,862
to 7 or 8 different people. That are

132
00:04:24,862 --> 00:04:27,325
working with that business owner to go through

133
00:04:27,325 --> 00:04:29,628
that process, where we kinda serve as more

134
00:04:29,628 --> 00:04:31,535
on the advisory side. So a lot of

135
00:04:31,535 --> 00:04:33,618
people are going to just like in life,

136
00:04:33,778 --> 00:04:34,895
a lot of people are going out and

137
00:04:34,895 --> 00:04:36,274
talking to people

138
00:04:36,811 --> 00:04:38,967
because they want them to sell so that

139
00:04:38,967 --> 00:04:40,723
they can make commissioner. They can get a

140
00:04:40,723 --> 00:04:42,160
portion of that cell or anything like that.

141
00:04:42,574 --> 00:04:44,648
We're engaged kinda to sit on the same

142
00:04:44,648 --> 00:04:47,142
side of the table of that business owner

143
00:04:47,200 --> 00:04:49,752
and really advise them on the best thing

144
00:04:49,752 --> 00:04:51,427
to do, not what's going to make the

145
00:04:51,427 --> 00:04:53,838
most money for us. We we kinda have

146
00:04:53,838 --> 00:04:56,315
that responsibility to work in the a business

147
00:04:56,315 --> 00:04:58,553
owner's best interest instead of just saying, hey,

148
00:04:58,713 --> 00:05:01,270
take this deal, even though it's 300000 dollars

149
00:05:01,270 --> 00:05:02,403
or a million dollars less left than what

150
00:05:02,403 --> 00:05:03,839
you thought it was because at the end

151
00:05:03,839 --> 00:05:05,674
of the day, that's only gonna short my

152
00:05:05,674 --> 00:05:08,226
commission by a few bucks. Sure. We we

153
00:05:08,226 --> 00:05:10,379
have that responsibility to really work for them

154
00:05:10,379 --> 00:05:11,735
and what they're looking at. Yeah. And I

155
00:05:11,735 --> 00:05:14,065
put their best interests in, like, let let

156
00:05:14,065 --> 00:05:16,221
them letting them know about that. Right. Yeah.

157
00:05:16,620 --> 00:05:18,696
Absolutely. So, yeah. I thought it was interesting,

158
00:05:18,855 --> 00:05:20,612
and I'm gonna segue us into the mental

159
00:05:20,612 --> 00:05:21,490
health conversation here.

160
00:05:22,221 --> 00:05:23,494
Because I think I think I heard what

161
00:05:23,494 --> 00:05:25,563
it was. So the 2008

162
00:05:25,563 --> 00:05:26,938
financial crisis, I was

163
00:05:27,393 --> 00:05:29,700
nearing the end of my undergraduate degree. And

164
00:05:29,859 --> 00:05:33,074
I saw that and I felt it, and

165
00:05:33,367 --> 00:05:34,581
I also saw the

166
00:05:35,113 --> 00:05:37,017
implication of of jobs as a. Right? So

167
00:05:37,096 --> 00:05:38,604
As I was graduating college,

168
00:05:39,654 --> 00:05:41,092
it was a pretty bleak job market. So

169
00:05:41,172 --> 00:05:43,330
I decided just to continue my education. What

170
00:05:43,490 --> 00:05:45,029
I hear is similar

171
00:05:45,647 --> 00:05:48,225
process, but you instead wanted to

172
00:05:49,175 --> 00:05:51,186
understand so that you could own

173
00:05:51,800 --> 00:05:54,743
a financial crisis and and instead put you

174
00:05:54,743 --> 00:05:56,652
into the position where today. Does that sound

175
00:05:56,652 --> 00:05:57,152
about

176
00:05:57,463 --> 00:05:57,701
Right?

177
00:05:58,417 --> 00:06:00,246
Yeah. You know, it's it's 1 of... It's

178
00:06:00,246 --> 00:06:02,551
very rare that we can look back in

179
00:06:02,551 --> 00:06:05,016
history and say there was this defining moment.

180
00:06:05,587 --> 00:06:08,048
That sort of impacted you on on a

181
00:06:08,048 --> 00:06:10,192
scale at which it changed your trajectory in

182
00:06:10,192 --> 00:06:13,105
time. Right? Mh. And especially with mental health

183
00:06:13,304 --> 00:06:15,559
so much of the stuff comes from

184
00:06:16,893 --> 00:06:18,249
instances in our life that we don't even

185
00:06:18,249 --> 00:06:20,881
remember. When we're small children. U. The things

186
00:06:20,881 --> 00:06:23,367
that we've experienced when when we're kids seeing

187
00:06:23,367 --> 00:06:25,986
our our, you know, parents or the adults

188
00:06:25,986 --> 00:06:27,732
that are around us go through certain situations.

189
00:06:28,526 --> 00:06:30,533
And so 2008 was just kind of this

190
00:06:30,589 --> 00:06:33,391
interesting point where seeing it affects you, and

191
00:06:33,391 --> 00:06:35,387
and it's so clearly defined because it affected

192
00:06:35,387 --> 00:06:37,543
basically all of the economy. But I think

193
00:06:37,543 --> 00:06:38,660
when you're looking at it from,

194
00:06:39,299 --> 00:06:41,056
a money standpoint and mental health,

195
00:06:41,946 --> 00:06:43,240
a lot of our

196
00:06:43,692 --> 00:06:47,682
relationship to money as a tool in itself

197
00:06:48,293 --> 00:06:50,776
starts so much earlier than we realize when

198
00:06:50,776 --> 00:06:52,449
we're seeing our parents or the adults that

199
00:06:52,449 --> 00:06:53,746
are around us really

200
00:06:54,202 --> 00:06:57,150
dealing with their financial issues or dealing with

201
00:06:57,150 --> 00:06:59,636
their financial stress. So And even to the

202
00:06:59,636 --> 00:07:01,630
point of what we're talking about now, what

203
00:07:01,790 --> 00:07:04,103
I was going through in 2008 when I

204
00:07:04,103 --> 00:07:04,980
was in my twenties,

205
00:07:05,937 --> 00:07:08,545
the way that I handled that was still

206
00:07:08,665 --> 00:07:11,705
so highly correlated. It was so related Mh

207
00:07:11,705 --> 00:07:13,785
to the way that I was raised as

208
00:07:13,785 --> 00:07:15,944
a child and that kind of what... That's

209
00:07:15,944 --> 00:07:17,384
what kind of put me on that path

210
00:07:17,384 --> 00:07:20,111
towards that that diversion, that change in my

211
00:07:20,111 --> 00:07:21,545
life that I had to make. Yeah. And

212
00:07:21,625 --> 00:07:23,059
I appreciate you say, like, the adults around

213
00:07:23,059 --> 00:07:24,653
us. Right? Because I vivid remember.

214
00:07:25,864 --> 00:07:27,698
Hard conversations that I would hear my parents

215
00:07:27,698 --> 00:07:28,894
having because we didn't grow up with a

216
00:07:28,894 --> 00:07:31,765
lot of money. And to this day, I

217
00:07:31,765 --> 00:07:33,780
harbor a lot of anxiety

218
00:07:34,237 --> 00:07:34,737
around

219
00:07:35,207 --> 00:07:37,821
around finances in our home. And as a

220
00:07:37,821 --> 00:07:38,638
result, I'm

221
00:07:39,248 --> 00:07:41,545
fine tooth comb. I... You know, I'm comb

222
00:07:41,545 --> 00:07:42,045
through

223
00:07:42,355 --> 00:07:43,394
through everything. So...

224
00:07:44,115 --> 00:07:46,274
And and I think it's... We can all

225
00:07:46,274 --> 00:07:48,375
agree that our our public school systems

226
00:07:48,995 --> 00:07:50,355
don't really educate us.

227
00:07:51,008 --> 00:07:53,978
On our finances. Right? Right. So

228
00:07:54,434 --> 00:07:57,164
all of a sudden were 24 student loans

229
00:07:57,302 --> 00:07:58,576
trying to get a job. Maybe I went

230
00:07:58,576 --> 00:07:59,873
to college, maybe I didn't

231
00:08:00,343 --> 00:08:02,250
And I don't know how to balance a

232
00:08:02,250 --> 00:08:04,236
budget. Right? And that you're starting to feel

233
00:08:04,236 --> 00:08:04,395
that.

234
00:08:05,348 --> 00:08:06,937
And I know for myself personally,

235
00:08:07,669 --> 00:08:09,430
I would there was like 16000 dollars in

236
00:08:09,430 --> 00:08:11,669
credit card debt because that's what I thought

237
00:08:11,669 --> 00:08:13,910
you did. You know? And it it's like,

238
00:08:14,310 --> 00:08:16,329
at the time, it was embarrassing, but

239
00:08:16,643 --> 00:08:18,157
I was able to kinda climb out of

240
00:08:18,157 --> 00:08:18,715
that hole.

241
00:08:19,591 --> 00:08:21,025
So it is possible. But I guess,

242
00:08:21,822 --> 00:08:23,177
this mental health conversation,

243
00:08:24,149 --> 00:08:27,350
when we're completely overwhelmed financially, and it seems

244
00:08:27,350 --> 00:08:29,029
like we can't... I don't wanna get up

245
00:08:29,029 --> 00:08:30,550
tomorrow because I'm gonna have to deal with

246
00:08:30,550 --> 00:08:30,789
this.

247
00:08:31,522 --> 00:08:33,905
What's that first step someone takes when when

248
00:08:33,905 --> 00:08:34,700
things are that bad?

249
00:08:35,495 --> 00:08:36,289
Yeah. This is...

250
00:08:37,084 --> 00:08:38,849
This... There's a cycle to this? You know,

251
00:08:39,089 --> 00:08:40,927
and that's the hard part. When when we're

252
00:08:40,927 --> 00:08:43,005
looking at it. We always have to understand

253
00:08:43,005 --> 00:08:44,703
the relationship of money

254
00:08:45,162 --> 00:08:48,214
in the conversation of mental health month well

255
00:08:48,214 --> 00:08:50,844
being. Right? We live in society today. It's

256
00:08:50,844 --> 00:08:52,540
so different than our ancestors,

257
00:08:53,076 --> 00:08:54,830
you know, years and years hundreds of years

258
00:08:54,830 --> 00:08:56,480
ago, maybe thousands of years ago where

259
00:08:57,074 --> 00:08:58,447
the idea of creating

260
00:08:59,057 --> 00:08:59,557
safety

261
00:09:00,009 --> 00:09:02,944
and having our basic needs fulfilled meant that

262
00:09:02,944 --> 00:09:05,184
you had to go out and hunt. And

263
00:09:05,184 --> 00:09:08,225
gather fine shelter Right? That's how they spent

264
00:09:08,225 --> 00:09:10,544
their days. Their time was spent doing those

265
00:09:10,544 --> 00:09:11,764
things. And the reason

266
00:09:12,238 --> 00:09:15,257
that they would feel things like anxiety or

267
00:09:15,257 --> 00:09:17,719
scarcity or or fear or any of that

268
00:09:17,719 --> 00:09:19,864
was because they had not... They did not

269
00:09:19,864 --> 00:09:22,350
have enough. At the time. Right? Mh. And

270
00:09:22,350 --> 00:09:24,665
so those feelings are real. What they felt

271
00:09:24,665 --> 00:09:26,980
was real because it was truly life or

272
00:09:26,980 --> 00:09:28,975
death. We live in a society where things

273
00:09:28,975 --> 00:09:31,617
are so different now where we're essentially able

274
00:09:31,617 --> 00:09:32,912
to trade our time

275
00:09:33,447 --> 00:09:36,151
for a resource, money as a tool,

276
00:09:36,722 --> 00:09:39,738
that allows us to go and buy the

277
00:09:39,738 --> 00:09:42,515
basic necessities and be able to buy the

278
00:09:42,515 --> 00:09:44,658
ability to cover our needs and everything like

279
00:09:44,658 --> 00:09:44,817
that.

280
00:09:45,548 --> 00:09:47,621
And I think when you realize that money's

281
00:09:47,621 --> 00:09:50,332
is really just a tool to help provide

282
00:09:50,332 --> 00:09:52,804
the basic necessities to help give you those

283
00:09:52,804 --> 00:09:55,765
basic needs that you. That you need to

284
00:09:55,765 --> 00:09:58,333
have to fill safety and to feel comfort

285
00:09:58,629 --> 00:10:01,149
to eliminate anxiety and fear from your life

286
00:10:01,349 --> 00:10:03,187
then you can start on that first step

287
00:10:03,187 --> 00:10:04,705
saying, well okay, money is not going to

288
00:10:04,705 --> 00:10:05,744
buy me happiness.

289
00:10:06,303 --> 00:10:08,461
It's gonna buy me security. And if I

290
00:10:08,461 --> 00:10:10,893
can feel safe, if I can have groceries

291
00:10:11,032 --> 00:10:12,949
in in the house if I can have

292
00:10:12,949 --> 00:10:15,266
a roof over my head, then I can

293
00:10:15,266 --> 00:10:17,354
now start to look at. How do I

294
00:10:17,354 --> 00:10:17,854
eliminate

295
00:10:18,309 --> 00:10:19,445
the pitfalls

296
00:10:19,820 --> 00:10:21,650
that money has been placed in front of

297
00:10:21,650 --> 00:10:23,877
me. Right? Mh. I tell people all the

298
00:10:23,877 --> 00:10:24,855
time. It's crazy.

299
00:10:25,801 --> 00:10:27,890
That we go and trade

300
00:10:28,502 --> 00:10:29,002
the

301
00:10:29,376 --> 00:10:32,235
the this limited resource time. Right? Something that

302
00:10:32,235 --> 00:10:34,877
we can never buy back. We trade our

303
00:10:34,877 --> 00:10:35,377
time

304
00:10:35,754 --> 00:10:38,148
for dollars. Mh. And then we use those

305
00:10:38,148 --> 00:10:41,673
dollars to buy name brand things. Yeah. Or

306
00:10:41,673 --> 00:10:44,305
to give to stores to buy things that

307
00:10:44,305 --> 00:10:47,574
we don't need. Yeah. And in... That... We're

308
00:10:47,574 --> 00:10:50,307
really, all we're doing is robbing from ourselves

309
00:10:50,856 --> 00:10:52,998
And from a mental health standpoint, that's what

310
00:10:52,998 --> 00:10:54,981
causes that fear. That's what causes that anxiety.

311
00:10:55,140 --> 00:10:57,916
That's what can cause depression and issues with

312
00:10:57,916 --> 00:11:00,003
money and issue choose with friends and society

313
00:11:00,003 --> 00:11:01,841
and everything like that. And so it's just

314
00:11:01,841 --> 00:11:05,138
taking that first step and understanding what the

315
00:11:05,197 --> 00:11:07,195
relationship is as of money is as a

316
00:11:07,195 --> 00:11:09,526
tool, choose and then saying, I'm going to

317
00:11:09,526 --> 00:11:12,160
use this tool to... If we're in a

318
00:11:12,160 --> 00:11:14,475
bad spot, fix where I'm at right now.

319
00:11:14,875 --> 00:11:17,211
And if we're just trying to improve things

320
00:11:17,364 --> 00:11:19,675
create goals that can... That we can move

321
00:11:19,675 --> 00:11:21,987
forward to achieve to really improve our life.

322
00:11:22,624 --> 00:11:25,016
Yeah. No. I... That's it's all so well

323
00:11:25,016 --> 00:11:26,708
said. And I I think what I'm kinda

324
00:11:26,708 --> 00:11:28,865
getting from that information is this importance of

325
00:11:28,865 --> 00:11:30,404
a budget. And it sounds

326
00:11:31,822 --> 00:11:33,740
out, primitive, I guess, going back to your...

327
00:11:34,633 --> 00:11:35,510
Ancestors analogy,

328
00:11:36,627 --> 00:11:39,099
but that is what changed my life.

329
00:11:40,056 --> 00:11:41,811
Because the second I had a budget going.

330
00:11:42,130 --> 00:11:43,906
I realized I had to review

331
00:11:44,300 --> 00:11:45,820
my finances is on a daily basis and

332
00:11:45,820 --> 00:11:47,580
be like, oh my gosh. I wonder how

333
00:11:47,580 --> 00:11:49,580
many people are getting charged 35 dollars a

334
00:11:49,580 --> 00:11:51,580
month for something they signed up for 8

335
00:11:51,580 --> 00:11:53,992
years ago that they don't even know is

336
00:11:53,992 --> 00:11:56,141
is still around anymore. Right? So I guess

337
00:11:56,141 --> 00:11:58,289
in terms of lining up that budget, I

338
00:11:58,289 --> 00:12:00,597
know there are apps you can use, I

339
00:12:00,597 --> 00:12:02,109
use the app version. You can go pen

340
00:12:02,109 --> 00:12:03,952
and paper, you can do a spreadsheet.

341
00:12:04,985 --> 00:12:07,129
In in order just to get everything into

342
00:12:07,129 --> 00:12:10,148
1 view and to get moving in the

343
00:12:10,148 --> 00:12:11,993
right direction with that. What... What do you

344
00:12:11,993 --> 00:12:13,988
suggest being that first step? Yeah. This is

345
00:12:13,988 --> 00:12:16,383
probably the number 1 question I get asked

346
00:12:16,383 --> 00:12:18,059
in the trainings that I do. They, you

347
00:12:18,059 --> 00:12:19,988
know, garrett what is the best budget? And

348
00:12:20,067 --> 00:12:23,086
I tell absolutely everybody, the best budget that

349
00:12:23,086 --> 00:12:23,983
you can use

350
00:12:24,675 --> 00:12:28,091
is the budget that you will use. Okay.

351
00:12:28,424 --> 00:12:30,099
And I, I know that sounds a little

352
00:12:30,099 --> 00:12:30,976
bit flip. Right?

353
00:12:31,934 --> 00:12:33,529
But when... I mean, if people knew what

354
00:12:33,688 --> 00:12:35,682
I knew, you know, you can use the

355
00:12:35,682 --> 00:12:38,075
every dollar budget, the 0 dollar budget, the

356
00:12:38,075 --> 00:12:40,075
last dollar budget. You can use the envelope

357
00:12:40,075 --> 00:12:42,694
method, the bucket method. I I use Excel.

358
00:12:42,932 --> 00:12:44,598
I open up, like, a crazy person. I

359
00:12:44,598 --> 00:12:46,186
open up Excel, and I do it every

360
00:12:46,186 --> 00:12:48,271
single day, know. But Probably 1 of those

361
00:12:48,271 --> 00:12:50,105
guys that has all the formulas and you

362
00:12:50,105 --> 00:12:52,817
love that stuff. Right? Yes. Yeah. Yeah. Definitely.

363
00:12:53,056 --> 00:12:55,231
You know, there's there's books out there dedicated

364
00:12:55,449 --> 00:12:57,698
to budgeting, like Why now. And and all

365
00:12:57,698 --> 00:12:59,694
these other ones that are out there. It's...

366
00:12:59,933 --> 00:13:01,370
It would be hard for me to say

367
00:13:01,370 --> 00:13:03,127
this is the 1 budget that everyone needs

368
00:13:03,127 --> 00:13:05,043
to stick to. And all of them have

369
00:13:05,043 --> 00:13:06,181
different principles

370
00:13:06,734 --> 00:13:08,407
that are kinda the guiding facts to them.

371
00:13:08,805 --> 00:13:10,398
And there's gonna be some out there that

372
00:13:10,398 --> 00:13:13,187
people are just absolutely going to despise. Mh.

373
00:13:13,745 --> 00:13:15,019
And they're gonna they're gonna do that, and

374
00:13:15,019 --> 00:13:16,389
they're gonna, like, oh, budgeting is not for

375
00:13:16,389 --> 00:13:17,903
me. I'm just... I'm am just not the

376
00:13:17,903 --> 00:13:19,974
type person that can budget because I didn't

377
00:13:19,974 --> 00:13:20,851
like this 1.

378
00:13:21,488 --> 00:13:23,719
And that stops them from going out and

379
00:13:23,719 --> 00:13:25,791
looking at other types of budgeting tools or

380
00:13:25,791 --> 00:13:27,319
other types of budgeting resources.

381
00:13:27,956 --> 00:13:29,469
And and I say, if that's the case,

382
00:13:29,548 --> 00:13:30,822
if you found 1 that you didn't like,

383
00:13:31,061 --> 00:13:32,813
find 1 that you do, like, budget should

384
00:13:32,813 --> 00:13:35,299
not be a 4 letter word, types budget

385
00:13:35,299 --> 00:13:38,019
should be the thing that you do that

386
00:13:38,019 --> 00:13:39,480
allows you the freedom

387
00:13:39,860 --> 00:13:41,860
to go and spend the money that you...

388
00:13:42,019 --> 00:13:43,952
The way that you wanna spend it. Yeah.

389
00:13:44,191 --> 00:13:46,498
That should be accomplishing your goals that should

390
00:13:46,498 --> 00:13:48,327
be providing for the future, should be covering

391
00:13:48,327 --> 00:13:50,396
for your basic needs, But it should also

392
00:13:50,396 --> 00:13:52,558
be... For you to be happy for you

393
00:13:52,558 --> 00:13:54,070
to live life the way you wanna live

394
00:13:54,070 --> 00:13:56,058
now. Mh. That's what a budget should provider.

395
00:13:56,456 --> 00:13:58,384
Yeah. No I... That's I I love it.

396
00:13:58,623 --> 00:14:00,381
I love this stuff honestly because as I

397
00:14:00,381 --> 00:14:00,861
said earlier,

398
00:14:01,900 --> 00:14:03,498
I was not in a good place financially,

399
00:14:03,818 --> 00:14:05,975
and I buckled down and I climbed out

400
00:14:05,975 --> 00:14:08,379
of debt. And I'm sitting here today,

401
00:14:09,016 --> 00:14:11,163
knowing I haven't looked at my finances yet

402
00:14:11,163 --> 00:14:11,322
today,

403
00:14:12,357 --> 00:14:13,152
and I need to.

404
00:14:13,803 --> 00:14:15,713
Right. I need to go do that because

405
00:14:15,793 --> 00:14:16,589
I know it's important.

406
00:14:17,703 --> 00:14:19,215
We all have financial setbacks.

407
00:14:19,772 --> 00:14:20,272
And

408
00:14:20,727 --> 00:14:22,080
you just... You have to live in a

409
00:14:22,080 --> 00:14:22,796
place where...

410
00:14:23,369 --> 00:14:25,678
You can anticipate something that you can't see

411
00:14:25,678 --> 00:14:26,634
coming. Like, for, like,

412
00:14:27,351 --> 00:14:28,944
we paid out more taxes this year than

413
00:14:29,023 --> 00:14:31,333
I anticipated. Well, unfortunately, we had to put

414
00:14:31,333 --> 00:14:33,258
down a cat. And so, like, within a

415
00:14:33,258 --> 00:14:34,928
couple of months, you know, my wife and

416
00:14:35,008 --> 00:14:37,496
I... We've we've spent thousands of dollars, and

417
00:14:38,110 --> 00:14:40,196
you have to get to place where you're

418
00:14:40,196 --> 00:14:41,949
you're spending below your means so that you

419
00:14:41,949 --> 00:14:44,181
can... So that you have the buffer, you

420
00:14:44,181 --> 00:14:47,072
have that safety net so that life

421
00:14:47,541 --> 00:14:49,841
doesn't send you into debt because life does

422
00:14:49,841 --> 00:14:52,775
happen. So... Yeah. Absolutely. And I think there's

423
00:14:52,775 --> 00:14:54,282
just a certain level of freedom that comes

424
00:14:54,282 --> 00:14:56,995
from that concept. Right. Mh. I always... I

425
00:14:57,154 --> 00:14:58,583
I talk to people. I say, think about

426
00:14:58,583 --> 00:15:00,171
a time where it was really easy for

427
00:15:00,171 --> 00:15:02,553
you to save money. Yep. And most the

428
00:15:02,553 --> 00:15:05,030
time it's when you're... Right planning for a

429
00:15:05,030 --> 00:15:06,622
big vacation that you really wanna do.

430
00:15:07,338 --> 00:15:09,327
You know, you're going, out out of the

431
00:15:09,327 --> 00:15:11,158
country, maybe you're planning a big vacation, like,

432
00:15:11,317 --> 00:15:12,749
a trip to Disney world with your family

433
00:15:12,749 --> 00:15:14,676
or whatever it is, that was probably a

434
00:15:14,676 --> 00:15:16,590
time where it was really easy for you

435
00:15:16,590 --> 00:15:18,344
to say, I don't need to buy this

436
00:15:18,344 --> 00:15:20,736
thing because I've got this big trip coming

437
00:15:20,736 --> 00:15:22,012
up, and it's gonna cost me a few

438
00:15:22,012 --> 00:15:24,334
thousand dollars. And you saved, you got to

439
00:15:24,334 --> 00:15:26,002
that point, you saved that money that was

440
00:15:26,002 --> 00:15:26,478
so easy.

441
00:15:27,352 --> 00:15:29,758
We need to find ways that we can

442
00:15:29,893 --> 00:15:32,276
instill those same principles that desire to save.

443
00:15:32,609 --> 00:15:35,313
For everything else because life does happen. My

444
00:15:35,313 --> 00:15:36,984
wife and I we love going on vacations.

445
00:15:37,143 --> 00:15:40,576
That is something we absolutely... Save 4. Mh.

446
00:15:41,052 --> 00:15:42,638
And, you know, it it we hate it

447
00:15:42,638 --> 00:15:44,305
when our water heater goes out, like, it

448
00:15:44,305 --> 00:15:45,415
did a couple of weeks ago because it's

449
00:15:45,415 --> 00:15:46,843
a few thousand dollar have to fix. Like,

450
00:15:47,002 --> 00:15:49,482
that comes out of the the vacation fund

451
00:15:49,482 --> 00:15:51,392
if we don't have a good emergency fund

452
00:15:51,392 --> 00:15:52,904
set up. Right. Well, we are not gonna

453
00:15:52,904 --> 00:15:54,416
take from the vacation fund, so we're gonna

454
00:15:54,416 --> 00:15:57,202
make sure we've got yeah emergency fund set

455
00:15:57,202 --> 00:15:59,689
up. So that we don't have to rob

456
00:15:59,689 --> 00:16:01,624
from our future enjoyment

457
00:16:02,002 --> 00:16:04,634
in order to to cover something that even

458
00:16:04,634 --> 00:16:06,149
though we didn't see it coming, we know

459
00:16:06,149 --> 00:16:08,553
is going to happen as homeowners. Gotcha. Well,

460
00:16:08,949 --> 00:16:11,329
well, fantastic. Garrett. I know you're extremely busy.

461
00:16:11,488 --> 00:16:13,154
And once again, you know, this podcast is

462
00:16:13,154 --> 00:16:14,741
coming on memorial day. So again, thank you

463
00:16:14,741 --> 00:16:15,852
for your service to our country.

464
00:16:16,502 --> 00:16:18,486
And to all your listeners out there, thank

465
00:16:18,486 --> 00:16:20,551
you for tuning in to learn more about

466
00:16:20,630 --> 00:16:22,932
Garrett and the type of trainings he offers

467
00:16:22,932 --> 00:16:23,750
here at B

468
00:16:24,059 --> 00:16:25,647
And again, thank you for your time, Gary.

469
00:16:26,045 --> 00:16:27,633
Thank you so much, kai. Until next time,

470
00:16:27,872 --> 00:16:28,507
everyone. Take care.

471
00:16:37,340 --> 00:16:39,564
This has been a production of balancing life's

472
00:16:39,564 --> 00:16:41,868
issues with your host, Kai Sore, and Wendy

473
00:16:41,947 --> 00:16:42,185
Owner.

474
00:16:42,840 --> 00:16:44,039
Produce by me. Kai.

475
00:16:44,600 --> 00:16:46,759
Rate, leave review and subscribe to the podcast

476
00:16:46,759 --> 00:16:48,919
podcasts wherever you listen, so you get brand

477
00:16:48,919 --> 00:16:51,320
new episodes as they drop. Got an idea

478
00:16:51,320 --> 00:16:51,720
for the show.

479
00:16:52,373 --> 00:16:55,325
Email me KAI at balancing life's issues dot

480
00:16:55,325 --> 00:16:56,920
com. Anything to add miles?