The Know It & Grow It Money System


Money Management for Couples


Lesson Info

The Know It & Grow It Money System

This is I didn't know it. And growing money system. Imagine what your money date could be. Lying, sexy, amazing, exciting behind. That's right crazy the mud the note and growth money system I joke about that but here here's why is because you need to have a money date every single month to look at your money and isn't it true that some people might find that not sexy right you're like what's sexy about that looking at my money so here's what I'm going to do you would you remember pavlov and the dog right what did he do he basically he had the dog and he had a little treat right and then he showed he gave him a treat he would salivate the dogwood salvi and then pablo gave him a treat the dog would salivate pablo oh I'm sorry have you got the most important part he ring a bell at the same time is giving him a treat right so let me say that again so the dog is waiting for a tree it goes ding treat thing treat ding treat ding treat because dogs salivate right when they're about to get a be...

d when they eat right good eventually all pavel it had to do was go ding salvi ding salvage without the tree it was me all right good so this is what I wants to dio money day ding money day day but what I'm saying is I want you to condition it as a pattern of something that you like to do so when you do your money don't you want to reward yourself when you do your money do you want to reward yourself now how you know exactly how you reward yourself you know is up to you of course but you know if you want to use something like these here welcome tio and I'll tell you that I'm gonna tell you whether or not we use these but I will tell you that I brought them here and a little funny because I was traveling and I told you at the very beginning I had a lot of stuff you know john marie mentioned that I don't travel light I had my backpack I mean I had my guitar and I had this big bag of props and I checked a bag as well and in my bag of props as you can guess for these guys and I ended up getting to the airport like I was running late and I got to the airport and I had to like get my bag checked you know really really fast and I got a check and I was like okay awesome on my flight luckily was fourteen minutes delayed and so I was like okay this is awesome like I think I have enough time to make it and so I get in the security line and it's like very very slow and very very long and I have my props and I have my backpack and I'm like sweating and I'm like this is disgusting. I just need to get there I'm looking at my watch like that also you know feeling all stressed out and I keep checking to see if mike please please get delayed more please get to leave where I keep refreshing keep refreshing and luckily it kept getting delayed and as it was I was like getting closer and closer and line and that at some point I was like it was I think five ten and my flight now had been delayed to five thirty ish and I was like I don't know if I'm so going to get through this line and so I pulled the like excuse me when's your flight six can I can I cut in front of you I'm trying to make my flight and like great we have a three day seminar I gotta attend it's cool I mean lead so people let me cut and then I cut maybe like three or four people and I'm like you know are you in a rush and can I make it he's like oh my flights at five thirty so you know it didn't make sense so let me cut and I'm like oh that's cool and he's like you could probably ask though I'm like well then I'll cut in front of you so it's fine so I sucked it up and then I'm like waiting in line waiting line 00:04:01.355 --> 00:04:04. and it's and then I get there and like I can see it, 00:04:04.23 --> 00:04:06. you know they're putting the trays on you know and 00:04:06.14 --> 00:04:09. like and then one girl comes out of nowhere she's 00:04:09.53 --> 00:04:14. like excuse me can I cut I'm going to see my dad and 00:04:14.0 --> 00:04:16. I'm gonna miss my flight they're gonna close the doors 00:04:16.4 --> 00:04:19. in six minutes and I'm like oh I shouldn't use that 00:04:19.84 --> 00:04:22. that was really good in everyone's like go you go 00:04:22.31 --> 00:04:25. girl you go there and I have this the guitar on his 00:04:25.34 --> 00:04:28. big bag and she's like totally little bag like this 00:04:28.26 --> 00:04:32. is all I wanted to do that it was too late for me 00:04:32.06 --> 00:04:34. to try to pull that stuff and so unfortunately for 00:04:34.76 --> 00:04:37. her she gets there she gets her stuff right at the 00:04:37.34 --> 00:04:40. on the train right about to go in for security right 00:04:40.49 --> 00:04:43. through the security through the another big word 00:04:43.56 --> 00:04:48. you know the x ray machine and and it gets and stops 00:04:48.23 --> 00:04:50. like right before her stuff gets and so she goes through 00:04:50.44 --> 00:04:52. you know does this thing right goes through and then 00:04:52.71 --> 00:04:55. she's just waiting on the other side and I'm looking 00:04:55.35 --> 00:04:57. at my clock you and she's not making it I'm not making 00:04:57.84 --> 00:05:02. it and finally starts moving again probably five minutes 00:05:02.33 --> 00:05:05. later and I'm like yeah thomas later starts moving 00:05:05.65 --> 00:05:08. in and then I go through you know I got it backpack 00:05:08.89 --> 00:05:13. I got my backpack to my backpack my guitar my bag 00:05:13.34 --> 00:05:17. of props right and I go through cool all good get 00:05:17.28 --> 00:05:19. to the end pick up my back excuse me ma'am is this 00:05:19.79 --> 00:05:23. your bag got my guitar they're holding up my prop 00:05:23.47 --> 00:05:27. bag like yeah is there a problem oh no no come on 00:05:27.24 --> 00:05:28. over here we just need to look through it you know 00:05:28.47 --> 00:05:30. they put it out there and I started looking through 00:05:30.66 --> 00:05:34. and my husband had packed for me that spoiled I am 00:05:34.46 --> 00:05:37. I had all the props like on our dining room table 00:05:38.65 --> 00:05:41. and he he's very organized so he put like all the 00:05:41.92 --> 00:05:44. props and my this green bag within this black bag 00:05:44.78 --> 00:05:48. and all the other stuff whatever and so they plop 00:05:48.24 --> 00:05:50. it on the table and they're like it looks like there's 00:05:50.16 --> 00:05:53. some like aerosol something in there and I'm not going 00:05:53.25 --> 00:05:55. to tell you what that is because that's part of the 00:05:55.35 --> 00:05:57. next segment but there's something in there that they 00:05:57.57 --> 00:06:00. were questioning and that they're like oh if they 00:06:00.07 --> 00:06:02. saw what it was and I said that's fine and then they're like handsome handcuffs and I was like no I'm like oh yeah it was a problem like you're not allowed to have handcuffs like I didn't really think that was an issue and so the guy was like well you know it's it we can't have handcuffs going through for security and I was like well they're they're fake like they're not really you don't even need a key you know? You just need to push the button to open it and he's like I'm gonna need to see that and like we saw in the x ray but he's digging through like bye barbie's air coming out you know my money mask is coming out all this stuff is on there and I'm like I'm just not going to make my flight like I just have to have like forget about it it's fine I'll get the next flight hopefully and like all these random really weird process are on the table and he couldn't find the handcuffs and I didn't know where my husband packed him and so he's digging there everything had to come out and he's like well I'll just run it through the machine like it was like you know still down there something so he runs it through the machine he's like it's definitely in this green back I'm like I told you that I told you that I told his in the greenback and so he goes through go through go through finally he pulls these out and he's like no yeah okay those have fur on it you're ok and he let me through like yeah these air definitely not real and it's not really for like trying to get someone uh locked on an airplane or something like that so I made it through but I thought that was awesome story said the point iss you do what you want to dio I'm not judging you but all I'm saying is have fun after you do your money date okay so that you can start salve ating right just like pavlov's dog you actually have a great something a reward something great after you do your money date all right and whatever that means to you okay so how does this know it and grow it money a system came from kim jin I made this up I realized that as I was working with people who had money I realize some patterns right and the biggest thing I noticed was that if they had clarity if they knew their money right when you know your money they they grew their money so when you know your money you tend to grow your money now what is know your money mean well we've started to go over that specifically knowing your money mask knowing your net worth knowing your money type right that's knowing your money right and when you start to track and measure it the exciting part when you start to track and measure it things start to shift and typically when I notice is that you have more money and why is that? Because it's not like it's magical like this actual you know system does the work but what happens? What do you think happens when you start looking at your money? You're in a relationship you're in a relationship with it and if you're in a relationship with it what would happen if we communicate about it? You can communicate about it yeah, you have the forces, you have clarity around it. You can, uh, you have clarity, it let's, let's. Imagine this for a sec, that's. Awesome. You're looking at your money, you're measuring it. What might you do differently? Then you did before looking at it. What might I do? Different? How about you, spendthrift sally? What might you do differently before you looked at? Budget it yeah maybe maybe a budget so maybe you come up with a plan and decide how much you're gonna spend but my my guess you're safe is that you might yeah is that you're gonna change the behavior and maybe if you're spent through cell I just maybe that if you notice that every time you're your money mask shows you that keep is negative or it's not the number that you want it to be what that you might change that behavior like you might you're at you're at the mall you're ready to buy some I mean you're like wait keep I'm on ly negative one hundred dollars last month I was only negative one hundred dollars last month I was you know positive five hundred and I want to be able to be positive six hundred I'm not going to spend that right now that's what happens you shift your behavior or maybe you know you're avoiding it typically you were avoiding you're avoiding and now you're not and by not avoiding it not only does your money change the way you feel changes you said you thought it was a certain number but then when you looked at it here like wow it's even better than I think it isthe it's amazing this is why you need a system so this is in the the key of clarity of the four keys to a richer relationship now I'm going to give you the four different components of it, and then I'm going to show you how to use it. So I'm not just going to give this tool to you and go good luck. I'm literally I have this set up here. I have a google doc ready to go to show you and you can do it at the same time. If you download your excel spreadsheet or open it, I just don't need to download a spreadsheet, open your spreadsheet, and then you'll be ableto actually personalize it right now for you. You don't. I don't know that you have it right in front of you, so just you can just participate and you can do it later, okay, but this is going to be really, really awesome. Okay, so the first tab very, very simple is first you're gonna have goals. And the most important thing about having this kim joon know and grow money system is that you have the most important things all in one place. So imagine you left this course, and you have your money. Mastery, map done. Your personal money mastery roadmap done. Okay, imagine you have a system to use for your money day every single month that you keep track and that you're monitoring and it's all in one place your goals are there. Your net worth. Is there your money, man? Ask is there all in one place and there's an action tab to keep you moving forwards all you could just keep taking baby steps and you write down what I have to do next step. What do I have to next? Step what I have to do next. This is all in one place. You have the money mastery map and you have the kim joon system no to grow its system like there's, not much more besides your beliefs and your behaviors and what you you know you other than that you got it. So this is why I'm so excited because I'm used this with my personal my private clients, and I see these amazing shifts. And by the way, remember when I mentioned that crazy eight yesterday I talked about how when you shift your behaviors and a behavior is tracking your money when you shift a behavior, your beliefs shift like you always you just by looking at your money mask erica, just by having clarity, didn't you have you have new beliefs? Definitely what's. One new belief. No. What's a lonely road up there? Well, I I have control of my money. Yes, trying to think of something different. Yeah. That's. Okay, yeah, let's, make it easy. I mean, you got several. I'm sure you got ton. You can where I'm down, but you just make it easy. Like you. Now, I totally believe, and maybe you saw work, made its not really there, but like you're, you're shifting your mindset to believe that you have control of your money. Teo, huge. How did that happen? You looked at one of these components, yourmoney mask, and you probably weren't even totally accurate, right? I mean, you probably did the best that you could, which was gave you enough that you need it. Okay, so goals. Um, this is on page seventy eight. So turn to your manual. This is like so simple we're going to really do a lot on goals I call it dream storming so you're going get a dream storm tomorrow and get like really figure out what you really really want what's important to you over the next one five, ten years but right now just to be good enough it doesn't have to be perfect I want you to turn to seventy eight and it has this pager that says goals and all it is is to just write to one year goals two five year goals and two ten year goals super super simple so for me I wrote down what I want in one year within a year I wantto have actually didn't write I wanna have this is how I wrote it one year it says I have a hill healthy baby girl or boy right I wanna have a baby so by the way I caught myself because I almost said I want to have a baby guess what you get when you say I want to have a baby a year later you still want to have a baby so don't put I want assume it's already happened right in the present tense I have a healthy baby pull your girl and you can start using that like I haven't like using it and we're gonna talk about language next but using that to get you excited like you just assume that it's already happened five years I'm making a million dollars per year, not I will make a million dollars per year. I'm making it right ten years. We're financially free. Meaning are passive income exceeds our expenses. By the way, why did I use that example? Because I want to make sure that if you use words like that means something different to other people, or maybe means something different to you later or now or to your partner, I want to make sure that you have it there, like defined. So that it's measurable. So how will I know when I'm financially free? Well, my passive income is exceeding my expenses. I make more money passively than the money I spent. Very specific. I'm making a million dollars per your very specific. I have a baby girl or boy. Okay, so you want to write down those two bullied? I'm sorry. Those two goals of each different category doesn't have to be perfect. Just write something down and then I'm going to show you how this works. Let's, go to the next section which is now worth okay. Your net worth is how much you own you. Minus how much you care minus how much you owe your liabilities and that's going to give you your network and what you're about to see it's a spreadsheet I know its money in a spreadsheet that kind of freaks people out sometimes but that's okay experience what you're experiencing don't make it wrong don't judge yourself just it's okay I know I was actually I have I'm all about coaches like I have my business coach I have to media coaches I have my husband's basically my coach there's I have like seven different coaches are all I have like an nlp coat I someone helps to make sure I don't get too stressed okay little high maintenance I know but that's like what's most important to me is that like I help other people and if I can help myself then I have issues but I bring that up because I was talking to one of my media coaches and I was practising this with her and I could just see because we're on skype you know and I can just see like this one of these eyes glaze over and I'm like hey you with you with the right ear you would think and she's like oh yeah yeah I just when I hear on numbers like I just I just kind of leave the room you know and so trust me I get it I get it I'm actually exactly like that which is weird not around numbers, but about organizing I'm not very organized, and I had an organizer, like, help me and, you know, she started talking about, like, how we gotta, you know, get it, make a home for it and, you know, putting this place and I had all this anxiety and all this stress about, like, where I'm going to put things in, having decide where things go and what to do, you know, and I was just so freaking out, and then I'm just like you, you know, I just didn't want I just want to shut out, so we all have. That just depends on what the subject is. So I'm going to invite you just to please stick with me, even though it may be hard and so you're like that's, totally simple. No, no big deal. I love looking at numbers awesome. So wherever you are at that's, great, just stay with me, because this is really, really important, okay? You're you're no network. I don't have big network woman fine so what I want you to think about this this is why this system is so important is that it assuming that you do grow your net worth and you're monitoring it and then you get kind of comfortable and you know you're not really paying attention as much well if you stop paying attention to it the danger is what could happen that lose it all bye bye network so it's so important to stick with this he can use my system you could use a different system doesn't matter but you want to make sure to look at it all the time so they not all the time I shouldn't say all the time every month that's the rule every month just once a month don't look at it every day please don't like go crazy about this because then you're gonna like you gonna really freak so let's bring up the google doc aunt I'm going to show you exactly how it works and just please stay with me trust the process so that you can really see how this will benefit you in your life. Okay. So the first tab as I mentioned really simple his goals so you're gonna have this you actually have it right now as a as a, um an excel spreadsheet that's how we could deliver it to you it's really easy and you would go. Okay. I just want to capture right here make sure I don't know you see this my one year goals have to say I have a healthy baby girl poor boy whatever okay what's so great about this is like I said it's all in one place so now you have it there and then you go to your second goal he write that down I'm not going to do all of them you go to your five year goal and you're gonna look at this once a month on your money date and you just look at it with your partner and you're like oh what our goals again oh yeah I want a baby all right I mean I have a baby I have a baby you have to catch myself to write I have a healthy baby oh yeah make a million dollars oh yeah I'm financially free whatever like now you reminding yourself why you want to look at this stupid spreadsheet to begin with right kids something you might be thinking good okay then the network tab less is really, really cool. Okay, now you have your assets this is very very clear. I need to see that on dit tells you what are those assets now in your in your in your manual? Do you see what page the net worth is on? I wrote down all the all the statements that you need to gather so for example under cash and cash equivalents nine thirty nine it's gonna you're gonna collect your going to gather your checking statements you're saving statement whatever you have your emergency fund and if you don't here's with super super cool you're like well wait, I don't have an emergency fund then you can put a zero that's fine now you know that's probably important to have an emergency fund so there's a space for it and you can start saving fifty bucks a month into it twenty five bucks a month into it five bucks a month into it I don't really care but now you know there's a place for it okay that's one that I want you guys to keep on there if you don't have like life insurance cash value you can just you know right click this and hide it there's a way to hide it or just leave it there and just leave a blank you don't have to put a zero so your assets you're gonna have a cash cash equivalents you're gonna have your retirement investments taxable investments that's like a brokerage account or your mutual funds stocks things like that it's all here for you all you do spill in the blank now you might be thinking oh, I am overwhelmed oh my goodness. I don't have any of that stuff. What are you doing to me or I have so much of this stuff like it can't possibly get on my statements together. Well, take a breath. Uh it's okay wherever you are is exactly where you're supposed to be all you got to do is fill in the blanks ok if you don't have anything like a brokerage account to skip it skip it can't be that way okay physical ass oh sorry your investments for your kids you would add that if you have like an atm account uh it's like basically a custodial account that you both um you both own it's a joint account of five twenty nine college fund or maybe you just have some funds in the savings that you have for your kids so notice how it says other right so you can add and what you want and then you're going to add in your physical assets so what I want you to dio I'll start with you about the tap like a the column a I want you to personalize it so right now we just went over the asset show you get back up here do do do do do do their directions instructions by the way on in your manual so you don't remember all this but let's say for me and my checking account I'm gonna say the name of the bank let's just call it b of a I'm going to say whose account is it so if it's mine like my own account I would write our see if it's a joint account I would right j t right if it's trevor's account right t c and then this is going to be the amount the value as of the last day of the month inca so up here up here you see starting point you can just put any I put december so that you have the whole year so you can always copy this and use it forever but you can put you know what? It's right now it's july so that's perfect this is perfect timing so you would put july here and why don't we just change it? Okay and then in july as of the thirty first because it hasn't happened yet so you don't know that number yet but let's assume it's a few days from now on I can look at my statements and I see in my beauty account I have let's just say five thousand dollars whips for fifty thousand would be even better look at what the spread she does for you adds it up how cool is that? You don't have to even do the work let's say I personalize it over here and I say that let's say we have another b of a and this is a joint account and maybe we have ten thousand dollars doesn't matter the numbers I'm just making out is a hundred thousand again gosh, I really you can see where my subconscious mind wants to take me like I know you have a hundred thousand awesome and your savings and your savings you would again personalize it so it could be a money market for example so you would say you know let's say it's a money market or let's say it's a seedy doesn't matter be they or whatever wells fargo I don't care wells fargo cd and that's a joint cd and then I have you know let's just say three thousand dollars in it add up all your cash and cash a cleveland so the type what I mean by cash and cash equivalents is things like bank accounts I was just cat is things that you're not getting interest on or very little interest like you might be getting you know right now the creature solo is like a quarter percent cds used to be like four five percent now they're like you're going to get one point two percent if you give me this for thirty years yes to question the first question is uh I noticed you put cds in there do you also put bonds in that category as well? Bonds is a great question your act making interest on your bond so I would put that in taxable investments assuming it's not like a bond in your ira or some retirement so that would actually be taxable because you're gonna be taxed on the interest so that would go under here so that's a really good point so we can just put bonds but cds that doesn't happen cds is really a low such a low interest I mean just make it simple don't complicate it cds are basically cash right now especially okay right now but if you want to put that in tax well later because it once it goes up to four or five percent fine but it's it's so the rates are so low it's just like it's cash okay yeah yeah and then the other question was if I have a business which I think a lot of people do and they're sola preneurs or something like that do they add that into this system or keep it completely should have completely separate but I mean because we have separate like don't count I would advise to keep it totally separate you should don't even put it in here at all you would use us you do it twice I would suggest that you do it for your business and you do it for your business it's more like a balance sheet you know it's called a balance sheet um a profit and loss I should say right now p nell so do for your business is going to be a little different not gonna have a rock for your business what happens is let's say you have a for like you own your own business and you get a solo for a one k let's just say then you would put the solo for okay the business like you're putting money in your personal for a one k that goes on your personal spreadsheet if you're doing ah um your business you should have ah p and l statement profit and loss statement it's kind of similar but yeah that's what you should have to do it separately okay great question okay cool so very very simple all I'm doing is showing you I'm just gonna put like one in each category so you can see how it adds up to make sure that it does it's possible my formulas got messed up but so let's just say I say let's just state of fidelity I'm by the way not promoting any of these cos I'm just using them as examples because you probably know the names fidelity um for uh let's just say it's an I r a o for one shirt for one kid or schwab or whatever and let's just say it's mine okay one million dollars for ten million or hundred million years so hard to know about the zeros here okay so you put that in as of the last day of the month taxable investments let's save a brokerage account there's fifty grand in there or two or five like again it doesn't matter how much or where you are I've done this with multiple multi millionaires and they're like I mentioned my client who had ten million I've done this with people who are negative you know negative sixty five thousand and give you another example so it doesn't matter where you are. I'm just putting in numbers so same thing here I think you get it I'll just do make it so we see it and let's say you don't have anything else um if you don't own your home you wouldn't put anything there if you don't own any rental property wouldn't this is a question from erica yesterday if you own your car but not outright same with your if you own your house but not outright you want to put the value so let's say your home is worth if you were to sell it today let's just say it's five hundred thousand hope that's five hundred thousand even though you owe four hundred fifty thousand you put five hundred thousand well the point of clarification from a tt up uh who asked how do you do the money mask and maybe even this exercise if you're currently not employed and you have no income and you're single okay, so that's if you're talking about income great question and that's gonna be the money mask so if you're single then first of all cool just do it for yourself that's fine now you have no income so that's going to show up on the money mask so we'll go over that I'll go over that in a second as far as your net worth, you have zero and any of these categories you can skip it or put zero you know you could just put zero and other doesn't matter but or you could just hide him, so you're not focused on it. But what my question would be then is, do you also have let's say, you have no assets, like, maybe you have asked us, maybe you don't. But if you don't have assets, if you do or you don't, you still want to fill up the liabilities and perfect question and get me there. Now you would put the liability. So if you have a mortgage so let's say you own, your home is five hundred thousand dollars, and you have a mortgage, let's, just say it's four hundred thousand. It's going to do the math for you so you don't have to be like what is the you know what I actually have in value on my on my house you just put those numbers in and all calculates with your net worth it all comes out okay so if you don't have any liabilities and you don't have any assets you pretty I mean you would have some assets because you even if you have zero liabilities and you don't have any money if you have five dollars in your pocket that would be five dollars other you could put cash and your net worth this five dollars right so you probably have either assets or liabilities it I've never seen anyone have zero because you're living and your breathing and if someone else is paying all your bills and doing all that then I would say um you mean it may not affect you you could still keep keep track of your own money even if it zero yeah so okay that you had in your second mortgage your card it so again I said I didn't write caryn here but let's say you had a car if you were to sell it today again you would you would personalize this so you would write you know toyota oh our bentley or whatever toyota and you would right let's say it's worth twenty grand. I have no idea. Twenty grand but let's say you owe on that toyota you owe fifteen thousand so so you only you know if you were to sell it you'll make five grand but that's all going to calculate for you okay I guess down okay I'm just checking in if anyone's home not like in this or not feeling it I want to remind you of what's important your goals why are you doing this any time you feel anxious about this are worried I feel like it's not gonna work or I don't know why you know maybe it's a waste of time those were just your beliefs trying to hold you back from having what you want so then go back to the goals oh yeah I want this I want this I want this now having a baby for example if that's your goal like in his mind you may say that's not a financial goals it doesn't matter if I do this work sheet or not but actually anyone heard of ivf anyone heard of you know when I have the kid and how much that's gonna cost so everything ends up affecting you financially most likely so so keep that in mind I just want to keep you on on track okay so then you have two categories within the liabilities you have the secured debt I have examples here which is your mortgage by the way don't forget I'm not gonna do all of these but you had personalize it you know what who ever is the whatever, wherever the loan is from, you write that down. If you have a second mortgage, any of those secure debts mean that if you didn't pay that off, there would be something there will be something that the bank could take, right? They could take your car, they could take your house there's collateral there, it's secured because if they don't get their money, they'll just take your house away. No big deal, right? It's secured unsecured debt is something like a credit card if you don't pay your credit card yeah, you're going to get bad credit, but they can't take anything from you. They can't take your car away, they can't take your house away, you know they can't do anything right. So that's unsecured, so credit card debt again, you would want to write, don't citibank or whatever, whatever the credit card is, if you have it, if they're not all joint, you know you can have my my credit card, his credit card, her credit card, whatever you just want 00:34:10.332 --> 00:34:12. to fill it out, personalize this to you. This is why 00:34:12.35 --> 00:34:15. this is so cool, because you can totally personalize 00:34:15.52 --> 00:34:18. it and it's really, really simple, okay, let me put 00:34:18.69 --> 00:34:21. some values in there so adds up 00:34:29.16 --> 00:34:31. I know I have a lot more assets in this example than 00:34:31.72 --> 00:34:34. liabilities. So I'm just let's. Just assume you also. 00:34:34.8 --> 00:34:36. Well, we'll call it a second mortgage. 00:34:39.7 --> 00:34:43. Justo spice it up there. Okay, notice your total secured 00:34:43.61 --> 00:34:46. debt, four hundred forty four thousand, your total 00:34:46.29 --> 00:34:50. unsecured at twenty thousand. Whatever it is now, 00:34:50.83 --> 00:34:54. your total liabilities is four hundred sixty, and 00:34:55.2 --> 00:35:00. you have done today. Not your net worth is one point. 00:35:00.32 --> 00:35:03. One two. Nine million might as well use big numbers. 00:35:03.76 --> 00:35:06. But let me just show you what's. Cool, let's. Say 00:35:06.76 --> 00:35:07. I messed up 00:35:09.06 --> 00:35:13. and hopes it wasn't really a million over in my what 00:35:13.24 --> 00:35:16. did I put it in my my retirement account or something? 00:35:16.96 --> 00:35:21. Um, let's. Just say it wasn't a million, and it was 00:35:21.85 --> 00:35:22. one hundred thousand. 00:35:26.46 --> 00:35:29. It's going to do all the work for you and at the very 00:35:29.23 --> 00:35:30. bottom of the sheet 00:35:31.85 --> 00:35:37. in a now my latte, my, uh, come on, now, my net worth 00:35:38.56 --> 00:35:41. is two hundred twenty to two hundred twenty nine thousand 00:35:41.61 --> 00:35:43. dollars. Okay, look, I know I'm using numbers you 00:35:43.84 --> 00:35:46. might be thinking, like, oh gosh, what you know, that's, 00:35:46.36 --> 00:35:49. just so far for me, it doesn't matter if it's one 00:35:49.81 --> 00:35:53. dollar, you want to look at it, relatively, see it 00:35:53.21 --> 00:35:56. over time. You want to look at this every month, so 00:35:56.62 --> 00:35:59. you can see the trends you're looking for trends, 00:35:59.46 --> 00:36:03. by the way, up here at the very top, you don't have 00:36:03.04 --> 00:36:04. to fill this out, it does it for you 00:36:06.0 --> 00:36:08. at the very top. It shows your net worth, so check 00:36:08.56 --> 00:36:11. it out. If I let just, I'm just gonna put an ass that so it's easy, and I could give show you point to a. What? Teo! And let's. Just say. So let's say it's like this where you look at the top here and you're like okay in july I started off I know this is january all you gotta do is hide these so don't worry about that please don't worry about the dates um so you have your net worth started off at two and when he started using this system at two hundred twenty nine thousand and then it went to next month it went to two hundred twenty eight thousand and your net worth went down by a thousand dollars okay, so what you might do is be like I don't want that to happen let me look it did it happen in my checking account area and my cash and cash equivalents? Is that where it went down? You can't really compare because I didn't do all the numbers or did it go down in my retirement or did it go down and where did that happen? Because maybe it's just the market and things change is no big deal it's only thousand dollars but maybe it's in you know it has something to do with something that you did differently, but it doesn't matter you're not looking just one month a month you're looking for trends over a period of time so then after another ma want another month you see that there's a trend here in fact even though it went down a thousand dollars over time over the course of four months it went up and if I want to I could do this thing here and I can actually it's going to calculate for you you just scroll over the sea in the bottom right hand corner the sum what does that say? Four thousand something right so four thousand so it's doing the math for you could be like okay overall I don't have to do the math my my net worth is going up it's going in the right direction I'm blowing more air in my balloon that's awesome now I want to keep doing those behaviors and more behaviors that are going to get me to where I want to be even more so because maybe you don't want your network to grow by four thousand dollars maybe you wanted to go by forty thousand dollars and that's not enough fine looking you're different accounts get what you're doing in your life and see what you can do differently to get that result and are actually ready whenever you're ready we have one quick question for you though um in faye wants to know I don't own I rent would my rent payment be under secure death like debt like a mortgage if not where would it go? Great question awesome thank you because I'm sure a lot of people are asking that same question your rent because you don't own it you don't put it on the network tab it all cause you have no ownership. You don't you don't own anything of it, and you don't owe anything right. You just have to pay it every single month. It's actually part of your spending, it's, part of your money mask, so that will come up on your money mask. You're gonna put it there, but you don't, because you don't know anything or you don't, you know, own it. You don't have to put on there.

Class Description

Strong financial management skills are a must-have for a thriving, healthy relationship — but conversations about money can trigger feelings of guilt and anxiety. Simple financial discussions don't have to turn into emotional minefields. Join Robyn Crane and CreativeLive to learn the skills you need to manage your money as a couple, without letting your finances get in the way of your relationship.

This course will teach you everything you and your partner need to know to manage your finances effectively – without stress, guilt, or conflict. You’ll learn concrete tools for communicating about finances openly and honestly. You’ll also build strategies for recognizing and correcting flawed beliefs about financial management. You’ll explore why money issues are among the most common reasons for break-ups and divorce, and learn how to safeguard your relationship against the friction financial disagreements can cause. You’ll also create a concrete, easy-to-implement system that allows you to achieve financial health by playing to your and your partner’s strengths.

You’ll leave this course with strong personal finance skills and an understanding of how to collaborate with your partner to work toward a thriving financial future.