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Budgeting As A Power Move
224 Plays4 years ago
Budgeting…yes, we know. It’s the thing that everyone says is super important but nobody does. 90% of us don’t have a budget and 5% of people actually keep to one. But budgeting is power, it’s what helps you ensure that your money has purpose and that your purpose is getting the resources it needs to thrive. It’s also what puts you back in control instead of being disoriented in a whirlwind of debits and credits, deposits and payments. Your budget is your first line of defense in making sure what you care about aligns with what you’re actually doing.
Great, so you’re in, except budgeting is cumbersome. Envelope systems don’t align with how we spend and share money responsibilities but most digital solutions put the burden on the backend, having you tag and sort expenses into categories after you’ve already made the spending decision. But you need a front gate, not just a security camera.
Enter Qube Money - the digital envelope app/bank/card that allows you to define your budget, allocate money to expenses in real time, and easily share access to that budget and money with your spouse or partner. Shane Walker, Co-Founder of Qube Money talks us through how it works as well as how his solution is helping people take control of their money and its purpose.
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Transcript
Introduction to Uncommon Life Project
00:00:02
Speaker
Everyone dreams about living an uncommon life, but how we define that dream is very different for each of us. And for most, it's a lifelong pursuit. Welcome to the Uncommon Life Project podcast. We're going to introduce you to people who are living that life or enjoying the journey to get there. We're going to also give you some tools, tricks, and tips for starting or accelerating your own efforts to live an uncommon life.
00:00:27
Speaker
A life worth celebrating and savoring. Please welcome your hosts, Brian Dewhurst and Philip Ramsey.
00:00:36
Speaker
Hello and welcome everybody to another episode of the Uncommon Life Project, where I'm your host, Phillip
Meet Shane Walker and Cube Money
00:00:40
Speaker
Ramsey. And I am Brian Dewhurst. Thanks for tuning in, we got a great guest. I want Brian to do the bio because I want as much time with this man as possible. Let's go. All right, we've got the one and only Shane Walker, co-founder and executive vice president and chief marketing officer at Cube Money. He is ninth of 12 children, married to the love of his life. They have eight children.
00:01:02
Speaker
And he was actually one of the main mentors that brought me into this business. So Shane is one of those people in my life that, you know, the word principal and fun, like he's just a principled individual. We're so excited to have him on. We're going to unpack quite a bit today. Welcome to the show, Shane Walker.
00:01:22
Speaker
Thank you, Brian. I appreciate that was a kind introduction, bro. Listen, I got to pull back because nobody knows what Q money is. I'm going to tell you what Q money is. Q money is the reason why I think I'm going to start budgeting with my family. And that's a big deal because budgeting to me is a cuss word.
00:01:39
Speaker
Really. And I think a lot of people, but cube money takes the old envelope system of my uncle. That is so old. No one's doing the envelope system, although it works. No one's doing it because it's 2022 now. Okay. Figure it out.
00:01:54
Speaker
Shane has figured it out. It's called Q-Money. So I don't know how else to introduce it, but that to me is the reason why you have it on the show, the reason why I'm super excited about it, and the reason why I want as much time as possible with you, Shane. I'll stop talking. Q-Money, give us a quick introduction better than I did.
00:02:10
Speaker
Absolutely. So it is a digital bank where people literally spend from their budget. So every other system out there is reactionary where you spend and then you think about it later. And that doesn't work. And so there's a reason why our grandparents, whenever they receive money, they divided into envelopes to make sure they had money for the things that were important to them, right? And then before they spent, they'd take out those envelopes.
00:02:40
Speaker
And they'd make sure that they had the money and it would impact their decision in the moment, real time, before they spent. And when the money was gone, it was gone. So they had a choice. Do I take it from another envelope or do I not spend? And this kept them in check because they didn't have access to credit and it worked. So we just developed that system from a digital standpoint for today's world.
00:03:04
Speaker
And the reason why I poke fun at my uncle, which is not my uncle, I feel like I have to always have that caveat. We have to have the disclaimer that you are not related to Dave Ramsey. But we have the same last name. And the reason why that system didn't work for at least our family is you have to then go to the bank, you have to get hard dollars out, and then you have to categorize them in different envelopes. And then when you're in the grocery store,
00:03:27
Speaker
You have to have the envelope. You better have that envelope. Okay. And if you had to go to two grocery stores, for some reason, your husband had to grab some money out of that envelope or your wife, like, Oh yeah, it's just a hot
Why Cube Money? Addressing Traditional Budgeting Challenges
00:03:38
Speaker
mess. We've all been there. Well, I wish I could say I have been there because I think that's a powerful, it's powerful. I just have never done it. And that's the reason why I'm like, I'm in 20, like, like we're in the pit. Yeah. We're not doing money anymore. It's insane. Some people don't even take money.
00:03:53
Speaker
I know. And this is like a debit card. So you look like every other person, yet you're budgeting like you have the envelope system and your spouse can be at a different store and using the same or different her card and taking out of the same envelope, which then completely revolutionizes. And you, you spoke to it is like proactive instead of reactive. Like I've, yeah.
00:04:15
Speaker
My wife and I have tried YNAB. You need a budget. And didn't love it because I had to be reactive. I had to spend it and then go in. Yeah, Shane said it. I mean, as a financial advisor, we'll start asking you questions here in a second. I mean, I've tried Mint. I've tried YNAB. I've tried just Excel, downloading it. That's actually what I use the most.
00:04:38
Speaker
Um, that's primarily what I've used in a couple of apps here and there. And I actually even tried to use our software that we provide to our clients, you know, E money that has a budgeting system and none of it, like it's mint mint.com. I think, and the other thing I'd say, and then we'll get into kind of Shane's story, but I mean, we have hundreds and hundreds of families of clients. There is literally, I think less than 5%. So five families out of 100. Who are like diligently following their budget, like to the penny.
00:05:05
Speaker
Yeah, it's crazy. It's crazy. So anyways, before we met, you know, and we got into Cube Chain, my wife and I were actually, we went back to Dave Ramsey, we were doing the cash, we're doing the envelopes.
Shane Walker's Financial Services Background
00:05:18
Speaker
I felt like I needed to carry a gun with me, you know, because it's like, it's 2022. I mean, I don't think any family of five people is spending less than five or six grand a month, you know, it's just not happening. And so anyways, let's get into it.
00:05:32
Speaker
with Shane, like how, like we met, I'm going to go back. We met in like 2000. Gosh, I think it was like 2004 2005. Yeah.
00:05:43
Speaker
You introduced me to what we call uncommon banking. You were a full-fledged financial advisor, and you were really one of my important mentors in showing me a different path with money. Walk the listeners. I want to weave two shows into this of like, hey, what is cube budgeting and all that, but also your entrepreneurial story to get to this point too, because that's super... You're one of those people. I just love hearing your story. Share with our listeners. We were in Omaha, Nebraska.
00:06:12
Speaker
you know, 15 years ago. And, you know, and then you kind of moved away. I moved away and walk our listeners just quickly through, you know, that last 10, 15 years.
00:06:23
Speaker
Yeah, absolutely. I love the enthusiasm, guys. It's awesome because money, I mean, we plan everything in life. Why don't we plan money? I mean, it's so foundational, right? It's crazy. It is. Anyways, so yeah, it actually all started before I met you, Brian. When I was in college, I owned a door-to-door pest control sales company with some friends.
00:06:47
Speaker
And one of my partner's stepbrothers came under the train of Ryan Clark, who's my co-founder, co-founded this with me. Anyways, and we both went into the same financial service industry, like you're talking about, and focused on helping people achieve financial help. And over and over, we would fall in love with these people. We'd spend a lot of time
00:07:15
Speaker
and get to know their kids, you know, because we were helping them change a fundamental part of their lives. And that's how they dealt with money. And, you know, only to find them fall back into the same habits that they were in before they worked with this. And it was really disheartening and frustrating.
00:07:36
Speaker
And for years, I was like, man, I'm obviously not good at this. I had to go find something else to do. But in the end, we realized that it wasn't us, it was the environment that we live in. It's the financial system that we all exist in. And if you think about it, like look at our world, the digital revolution,
00:08:03
Speaker
We love faster and easier. And to be honest, it's pretty amazing. I mean, a car that goes from zero to 60 in a little over two seconds. That's crazy.
00:08:15
Speaker
You know what I mean? And to be able to access things all over the world with our index finger. So it's phenomenal, but faster and easier isn't good when it comes to spending money. It means that human nature, by human nature, we spend more. So you couple that. So our banking system that we exist in is one account with automatic
00:08:39
Speaker
deposits of automatic payments going in and out of this thing like crazy. It's all digital. And it's crazy. We don't know where things are going. I mean, that's why three out of four people say money is their number one cause of three out of four adults in America play money as their most
00:08:59
Speaker
their biggest cause of
Cube Money's Impact on Spending Awareness
00:09:00
Speaker
stress. So it's for real, you know what I mean? So you couple that environment and this idea of a credit card that's not even coming out of your account except for once a month, swipe and go, spend and then think about it later. People don't know where their money's going. So you couple that with the social media marketplace where they literally can prototype us.
00:09:27
Speaker
They know who we are, what we're looking at, what we're looking at, and we have access to like 32 million products on Amazon alone that we can buy from our bed in our pajamas. Right. I'm going off a tangent here, but it was funny I heard this thing that says, if you want something for Christmas, just go buy your wife's phone and whisper it in the phone.
00:09:50
Speaker
It's going to start showing up. That's hilarious. Yeah, that's right. So this is the environment. This is the financial environment that we live in. So anyways, kind of the straw that broke the camel's back was a couple out of Texas making it like a doctor's income. I mean, a lot of money. A lot of money. Yeah. They had everything. Beautiful home.
00:10:14
Speaker
cars, box office tickets, all the toys, but they didn't have any money. And they were fighting, they were unhappy. And they came to us saying, please help us make the 10 years, the next 10 years different than last.
00:10:31
Speaker
Ryan worked with them and spent tons of time creating a budget, putting them on one of these tracking apps, budgeting apps. But within a few months, they figured out how to go around everything and they were divorced within a year. Ryan's parents were divorced because of money when he was in high school, one of the toughest times in his life.
00:10:52
Speaker
He was like, you know what, there has got to be a change. And so that's where CUBE money, actually it was a meeting with a friend that was a payment processor developer over lunch and on an applicant just drawn out, is there any way we could digitize the cash flow method of spending? Because it worked. It changed behavior. People weren't willing to do it long term because it was cash in a cashless world.
00:11:16
Speaker
Isn't it crazy? Some of the best ideas is just solving people's problems. I love that. And then here's what I'd also say too about budgeting. I think that the...
00:11:25
Speaker
I think that the notion is, or maybe the perspective is that nobody needs a budget if you have a lot of money. And the people who don't have a lot of money have to budget because they don't know, you know, they just have to make their dollars the most efficient. But I would say in 2022, at least what Brian and I see is the people that are going to benefit the most are the people that don't really need to have a budget. But if you focus on your budget, how much more powerful you can be.
00:11:52
Speaker
Yeah. And in our book, we even talk about your frontline of defense is your budget. Exactly. As much as you don't want to talk about it. Yeah. If you can figure out your budget, the things that we've seen that you can then accomplish is astronomical. And it starts with budgeting. And I mean, Shane, you have some statistics that I just want to say this and I'll tee you up. But I mean, just looking at the client base that we have, you know,
00:12:17
Speaker
middle class, higher upper class, you know, either, you know, strong one income or dual income families, kids, no kids, doesn't really matter. They're all like, they're good. They're making money, they're saving money, they're investing, they're doing all these things. But I mean, they all tell us legitimately, we could probably be saving another, you know, 400, 500,000, 2000, $3,000 a month. If we had a system that was like actually easy to use,
00:12:44
Speaker
And then to that point of what Philip's saying is like, then you compound that over, you know, 10 years of saving that type of money and investing it with the, you know, just a basic rate of return. And it's like, we're talking about hundreds of thousands.
User Experiences with Cube Money
00:12:56
Speaker
Multi-millionaires. Yeah. And then you're a multi-millionaire. Yeah. Yeah. So I know you have some research on that internally that I think would be good to highlight. Yeah, absolutely. And guys, budgeting is simply a plan for your money.
00:13:10
Speaker
I mean, think about everything important in your life. Do you plan? Yeah, yeah. Of course, right. And money is so integral in every other part of your life. Why not create a plan that works of where it goes? Yeah. Yeah. So anyways, the truth is, is there's two stresses of money. One stress is
00:13:30
Speaker
that you don't have enough of it. And that's tough and a budget will change your life. The other stress is not really having a direction or a purpose worth money. And so you just spend it mindlessly and it doesn't feel good.
00:13:46
Speaker
And so a budget helps there too, because then you create a plan, who are you? What is the impact that you can make in this world? And as you connect into that and utilize money to that end, life takes on a whole new meaning and it's fun. And so anyways, planning, budgeting is actually a ton of fun if there's an easy system, just like you said. So yeah, the statistics are, there was research done by MIT
00:14:16
Speaker
How much more do people spend when they use a credit card versus cash? And they did different products, services, and they found that people spent 83% to 100% more.
00:14:34
Speaker
That's crazy. So I actually didn't, I was like, I don't think that's true for Creason. Right. Right. I don't, I don't, you know, so anyways, we were, we were big Southwest reward credit card users and, um, Marriott, now it's Bonvoy and we would spend, you know, a hundred thousand dollars a year on those cards and earned five to $7,000 a year in rewards. And we thought, man, we are like totally killing it.
00:15:04
Speaker
Killing it right taking advantage of yeah these cards They're not getting anything on us because we're not carrying a balance at times we did though because of just the ups and downs of business but anyways We started using cube money October 2020 and We saw about $3,000 a month
00:15:29
Speaker
in savings. So we were getting $500 a month in rewards and over spending by $3,000. It just was like, whoa, I can't believe that. So it's for real.
00:15:46
Speaker
I think it's true, I mean, so Megan and I, my wife, we've been on it now just shy of six months and I know for a fact, and I'm the spender of the two of us, candidly, I know for a fact we're saving, you know, five to $600 a month from what we were previously doing. And that's the statistic, right, Shane? That people who actually focus on this use the system, they're gonna save about four to $500 a month
00:16:14
Speaker
And you're not going to feel like you're doing too much different other than swiping a different kind of debit card. Yeah. Here's the cool thing too, guys, is you actually have money for what matters. You may still spend that money, but you'll spend it on what matters.
00:16:33
Speaker
Yeah, it's definitely more intentionally. Yeah. I want to lay this out again, just kind of visually. So especially like for husband and wives, you each have your own visa debit card. You each have the cube mobile app on your phone, Samsung, you know, Android, you know, Apple, whatever. And it's a digital bank, right? It's a digital bank. So the money is actually in this bank attached to this visa debit card.
00:16:58
Speaker
And you both can see the budget in real time all the time. And you both have a card to access the budget in real time all the time. So it is literally the envelope system digitized for the 2022. And then the powerful thing, I think, for Megan and I has been where you fully fund the month's budget. That has been a real key because when we were first trying to get on it, we were just trying to get money in there.
00:17:26
Speaker
You know, I figured out how to get our full budget deposited for the month and get in front of our entire budget. And that is really when the game changed for Megan and I, because it's like you have that monthly barometer of like, okay, we went through our budget.
00:17:41
Speaker
This is the stuff we've, you know, want to be intentional about of tracking. And just full disclosure, it's basically $4,500 a month, which is like the, you know, the groceries closed, the stuff that isn't coming out automatically, but you're buying no matter what. And when you deposit it, when we deposit that like $4,500 a month in there, and we had it, now there's no, like, you can see it. And what you talked about earlier, Shane, you know, for most couples, especially dual income,
00:18:06
Speaker
you know, you're having deposits happen either like every week or twice a month. And so money's constantly going in and money's constantly going out and you don't really know where you're at, you know? And it's like, it's like kind of like swimming upstream of like, am I gaining any distance here? I don't feel like I am, you know, and six months go by. And so anyways, you get it. But that is, I just want to paint that picture. Like it's actually very simple to use. And then when you go to the store and you're in line at the grocery store,
00:18:34
Speaker
You know, you open the app, you tap that envelope, groceries, and it actually debits that envelope within your phone, which is a bank attached to the Visa debit card. I'll stop there. Do you have anything you want to clarify or point out? Absolutely. So we talked about how everything else is reactionary. You spend and then you think about it later, which doesn't work, right? The magic of money is in the moment of spend, in the moment you're spending, you interact.
00:19:01
Speaker
with your bank with your budget with cuz the bank in the budget the same and so you interact and you literally authorize that money in real time onto the card otherwise that card by design is default zero which means that there's no available balance on the card until you tap
00:19:21
Speaker
the cube, the digital envelope that you're going to spend from. And in real time, that money is available on the card and you process the card. And immediately that transaction returns that card to default zero updates the cube that the digital envelope with how much is left for the rest of the month. So you know, it does it on your spouse's phone to or your your partner's phone too. And
00:19:44
Speaker
it ledgers that in the appropriate cube or digital envelope. So you have complete awareness and intention when it comes to spending and it happens all real time. So here's the other cool thing that so a lot of people are like, man, I have to authorize money before every every payment.
Flexibility and Features of Cube Money
00:20:05
Speaker
Yeah, I want to address this.
00:20:06
Speaker
I don't know if that seems a little that seems a little tough, you know, that seems a little too much. But the fact is, is that awareness before you spend will change your behavior. Here's the cool thing. Cube money has created the flexibility for you to have a stricter
00:20:27
Speaker
protocol with categories that you're not so good at, and not so strict with the categories that you're already good at. And so we've introduced this thing called the cubeless, where you can actually spend on that card up to a certain amount without opening a cube. But once it gets to the amount that you've said is okay, like the balance in that in what we call as cubeless,
00:20:54
Speaker
you have to categorize those transactions to the appropriate cubes or digital envelopes before you could spend more on it. So it still keeps you in line. So if you're a couple where one of you is like hardcore budgeter, and one of you isn't so much, that's okay. Because the one that isn't so much can go ahead and spend and then the one that is can be categorizing those transactions. And it still keeps you completely
00:21:21
Speaker
in life and marriage. That's cool. Let's talk about this because I think there's a lot of people out there who are like budgeting like makes me want to vomit my mouth. Maybe I'm speaking to myself.
00:21:37
Speaker
Uh, but here's what I think is cool is like the budgeting actually gives you freedom to then spend in what you really think is important. So that trip that you and your wife always wanted to go on and you're like, yeah, we're going to get to that point. Have you got there? No, you haven't because you haven't categorized that you haven't budgeted. Even the appropriate amount of dollars into that necessarily, let's say, quote unquote envelope, but this system would allow you to do that.
00:22:01
Speaker
And so not only are you paying what you need to pay for, paying your bills, getting all the things you need, but you also have a different category of this maybe trip fund or Christmas. For the love of Pete, can we just have something good happen to your diet and finances in December? This gives you a shot to do it.
00:22:21
Speaker
Yeah, we have a Christmas budget, Megan and I, and it's so freeing, you know, to hit. Well, now seems like October, November, you got to get on it with everything going on. But yeah, it's freeing to like get to that point. You just have like, Oh, I got an envelope that has or a cube that's got, you know, a bunch of money in it that we've been saving all year.
00:22:38
Speaker
But I want to go back to the point of sale because I've had the moment where when I first started using Cube, it was like, oh crap, I got to get my phone out and I got to authorize this payment. You know, there's a few people behind you and you're kind of like, oh, everybody's looking at me, this better work. And so like, but now I love it. Like, because it's like, I know I'm doing what I need to do, what's best for my family. And I'm being intentional and like, if I'm coming home,
00:23:05
Speaker
And Megan's like, Oh, Hey, can you pick up, you know, whatever, you know, this, this and that for dinner, you know, and it's now it used to be five or 10 bucks. And now it feels like it's 30 or 50 bucks with inflation, which is another huge reason why I think everybody needs cube. And I mean, we could get into that separately, but.
00:23:20
Speaker
you know, boom, I pulled my card out. No, it's gonna take an extra 10 seconds, but that money came out of the same grocery envelope or grocery cube that my wife is using in real time. And then boom, I'm on my way. And so it's so freeing to have the system. I think that is a key word. I've always looked at budgeting as like restrictive and I don't wanna follow the rules and all this stuff, but more importantly, it was just about tracking all that stuff after the fact. Now,
00:23:47
Speaker
I'm intentionally tracking it and I'm deciding what my money is doing and I'm actually recording it before I spend the money. And it has literally been like one of the most freeing things for me in the last five to six months. I don't know if there could be a better caveat or recommendation that Brian do her saying that he's actually excited about a process. I'm just saying that right now. So praise the Lord. You got it. You figured it out. Brian can do this. You can do it.
00:24:11
Speaker
And I'm gonna argue with with Brian, it takes three seconds at max. Like seriously, no, totally agree. If you have most stores take like it's literally face ID, tap to open, double click to open my Apple pay. And it goes through just like any other card. So it really does. But think about this case. So what makes cash envelopes so powerful? Well, it's three core things. One,
00:24:39
Speaker
You give every dollar a job, you give your money purpose so that you put priority, you plan for things that are important. That's cool. That actually helps you do what you want to do with money. The second thing is you look at what's in the envelope before you spend.
00:24:54
Speaker
And so this creates that same behavior. You look at your budget before you spend. And then the last thing is, is your money is real because your budget and your and your money is the same thing. Same with Cube. And so it creates that change. But you know, the most the coolest thing about Cube to me is what I'm hearing from people about how it changes the way they feel about money.
Changing Financial Perspectives with Cube Money
00:25:18
Speaker
So saving 500 to $5,000 a month, those are the numbers I've heard from our users. It's cool. And it opens up tons of opportunities for them to really achieve what's important to them in their lives and to do the things, create the memories that they want to create and all that stuff. But when they talk about how it changes the way they feel, I hear words like, I finally feel in control. Like I have confidence.
00:25:49
Speaker
with money. I'm happy. I feel good about spending because I know that that's the reason I put that money there. Anyways, that's so cool. That's transformational because money's an interesting thing. There's kind of two parts of it. There's the fact, that's how much is in your bank account, that's how much are in your investments, that's how much you have in credit card data. Those are the facts. But then there's the feelings.
00:26:18
Speaker
And those feelings are powerful. They like, they really impact life. I mean, cause somebody could say, I have $1,500 or $15,000 in credit card debt, but they may be feeling I'm drowning in debt. And that's, that stinks, man. It's not good, you know? Or I only have $300 for Christmas, but they might be feeling like I'm a total loser parent.
00:26:43
Speaker
So anyways, those are the things that we're dealing with and I love how Cube Money completely changes the way people feel about money. It's awesome. Yeah. One of the things too I wanted to touch on is like, you know, when a couple or someone comes to us and they say, hey, we want a financial plan, you know, the most important number in financial planning, there's two, is how much do you spend a month and when are you going to pass away? We obviously don't know the latter.
00:27:11
Speaker
but we can really dial in the former. And most people, I would say 90% that come to us don't have, like, they have a budget or they have a loose idea of what they're spending a month, but it's not specific. It's like, oh, I think we're spending $700,000 or $8,000 a month. But I bet when they, you know, if you were to pull all their statements at the end of the year and you were to go through the trip they took that they don't factor into their monthly budget, the, you know, some other purchases or gifts or whatever, Christmas,
00:27:41
Speaker
I bet that family is north of $100,000 that they're actually spending. And that's what we're saying. If you can really dial in this number and really direct your money, I really believe that Cube is gonna help you save more money than you're saving now and then thus invest that money more than you're investing right now and thus accelerating you to your goals, whether that's trips or paying down debt or retiring or financial freedom.
00:28:07
Speaker
I really believe this system is going to help you dial in that number. Yeah, I agree. I was actually talking to a developer. She's the lady that's become a user. She was so fired up because for the first time in her life, she had enough money to fund her next month's budget.
00:28:33
Speaker
Wow, that's a big deal. Yeah, when she started with this, she was paying off her credit card that she had used with her paycheck, like at the first of the month, she didn't have any money. That's the month, right? Right. But then she got so that she was actually funding two weeks of her budget, and then she'd get paid again, she'd fund the next two weeks. But she just got, so she was funding her whole next month with cash that she had. She got ahead of the curve. Yeah, and she was like, this is like,
00:29:03
Speaker
Yeah, it's so cool. You know what I mean? And it was awesome. I think that is a huge point because that was a big shift for Megan and I to get in front of our monthly budget. And some of it is just getting used to using the app. I mean, it is an app. And so I just honestly didn't know how to get that much money in there for the month. So it took me a few weeks and then I finally got that set up and now it happens every month.
00:29:27
Speaker
I was actually talking to another client who we introduced to cube and she was really kind of struggling with it. And I uncovered that same thing of like, she was funding her budget every week or every other week and not for the month. And I gave her that feedback of like, Hey, I mean, I know her finances since I was like, just get the whole month on there, do it this way and get the whole month on there. And she came back to me and she's like, Oh my gosh, this is like total game changer. So I think that is a big part of the system
00:29:56
Speaker
You want to speak any more on that, Shane? Yeah. You know, with the new funding stream that we just introduced, you can effectively budget on a weekly basis or every two week basis or monthly.
Efficient Monthly Budgeting Strategies
00:30:12
Speaker
But you just have to realize that you've got to put that budget, like know exactly what's going into those. But you're right, Brian, it's much easier when you get to the point where you can just fund an entire month, because the truth is, is our financial world runs on months.
00:30:33
Speaker
I mean, most of our bills, our subscriptions come out on a monthly basis. And so it's easier to manage money based on a monthly budget because that's what our world does. So yeah, it makes a big difference.
00:30:48
Speaker
So, so Brian and I are huge believers. Obviously you can tell by our enthusiasm and our excitement, we've known Shane for quite some time. And we're so excited to let our one clients and two listeners of this podcast enter into something in cube. Obviously we think that this is going to be so beneficial to where you want to go. And we, you know, we referenced the book, but we say, if you want to go down this uncommon path,
00:31:13
Speaker
The first step is you have to have a budget. You have to know your numbers. If you don't have that, it's going to be a long and up road to where you want to go. And so let's talk about this because we actually invested in helping, employing somebody to help us take people through this.
00:31:33
Speaker
And it's powerful because I'm really just speaking to myself like I it's just a different system. It's kind of daunting. And so I would like to have somebody kind of hold my hand through this. Hey, I have a couple questions having somebody individually tell us and walk us through that. So we've we've kind of invested in that. And we're in the beginning stages of what does that look like? And how does that individual help my wife and I work through this? And you're probably listening out there trying to like, okay, this sounds great. But how in the world do we do that? And so
00:32:00
Speaker
We'll talk about more of that in the future when we have that, and we probably will have him on the show. Yeah, we're going to have him on the show. We hired a financial coach, so he's not a licensed financial advisor, but he is CUBE certified, went through. So Shane, maybe when we shut up here, you can speak to the resources that CUBE has and the CUBE mastery program and becoming CUBE certified.
Coaching and Courses for Cube Money Success
00:32:21
Speaker
But yeah, so that gentleman is CUBE certified now and really going to focus on onboarding people and families to
00:32:30
Speaker
Cube. And then we have several different ways they can, you can interact with this gentleman, you know, if you just need like an hour's worth of help, or if you want like a six week bootcamp, you know, like if you go to CrossFit, and it's like a, hey, you sign up, and there's a six week bootcamp to kind of really get into it, we have, we have that. And Cube has a lot of resources surrounding that. We'll let you talk about that, Shane. And then there's a longer program of like six months, you know, if you really want, like,
00:32:53
Speaker
you're at a critical point in your marriage or whatever business and you're like, we really got to figure this out, you know, and we want to prove it to ourselves over a six month period, like that we're going to make a massive change in our life. So we have something I think for everybody. But I'll be quiet there and Shane kind of you can speak into that, the resources available. Yeah, absolutely. So the science behind behavior change,
00:33:22
Speaker
comes down to two simple steps. The first is decide who you want to be. And then the second step is prove it to yourself through small daily wins. And that first step all has to do with your identity with money and your feelings around money. So in our course called Cute Masters,
00:33:50
Speaker
We guide you through a journey to help you understand, first of all, what is your current relationship with money? And then what do you want that relationship to become? And how is money going to help you become? Actually, then who do you really want to become as a person? Like, what do you want to accomplish in your life? Who are the people that are most important to you?
00:34:13
Speaker
What's the word causes that you're that you're most Passion about and then how is money going to help you get there? So that's the first part of the course and then The second is prove it to yourself through small wins. Well in atomic habits James clear one of the leading experts in behavior change talks about two things that are fundamental one is
00:34:39
Speaker
human beings by nature aren't disciplined. They're not motivated either. So when you are feeling motivated and disciplined, it's important to structure your environment to be conducive to
00:34:55
Speaker
get where you want to go. So environment is the biggest, it's the invisible hand that guides human behavior. All right. And so we help you design your environment around money to absolutely transform your life. And then the second thing is, is everyone has the same goals.
00:35:13
Speaker
Every Olympic athlete that is starting today has a goal to win that gold medal. The one that's going to win is the one that's followed a system that is gold medal.
00:35:27
Speaker
Qualified and so the second part is the system and cube money changes the environment of your money and it also creates the system the The truth is is cash envelopes is the most successful budgeting system in the world It's just hard. So cute money made it easier. So that system and it will transform your life so we have coaches just like just like Philip and Brian talked about they have a coach that will help you to
00:35:57
Speaker
Change that environment because changes changes hard they guide you through and create that accountability that you need to make that change in environment and then to Implement that system and pretty soon it becomes habit right right and it's like it's just part of and it feels so good and I'll tell you this if you want a better sex life
00:36:18
Speaker
Get your money. What? That's what I'm talking about, Shane. Let's go. I'm serious. If you want to feel more joy, I can actually add a couple just the other day, and they're like, man, our sex life is way better because our money's an
Financial Control and Personal Relationships
00:36:32
Speaker
orphan. Because we don't fuck money anymore, right? At Uncommon Wealth Partners, we have a tagline. We have a new tagline, Shane. Help you get laid and paid. You know what I'm saying? That's what I'm talking about, Shane. Let's go. Well, in society... Oh, go ahead.
00:36:48
Speaker
No, I was just gonna say, if you wanna be happier, if you wanna feel more confident, if you wanna feel like you're making progress to who you really want to be, get your money in order. And it's like one change. It's gonna take you 90 days to six months with the coach to transform how you feel. Your future, your future. Amazing, you'll be a millionaire. Most of us will be multimillionaires once we get this one thing right.
00:37:18
Speaker
Right. So Shane, I think, you know, we've unpacked a lot. I want to, I want to unpack a little bit because you guys are, I don't want to use the word startup, you know, a couple years old, but you, you guys are iterating and innovating a lot. Like just the platform itself, I think is transformational innovating. I think it's actually one of the most, and I mean, in this business, I'm testing a lot of stuff.
00:37:42
Speaker
personally. And this to me is one of the most innovative things in finance in the last like 50 years, period. And so I'm super excited about it. But you have a lot more coming too. So one of the things, you know, I have three kids, a couple teenagers and a 10 year old. And so, you know, getting them going on budgeting. So can you just kind of share with our listeners a little bit, you know, a peek behind the curtain.
00:38:06
Speaker
of, you know, what you guys have coming, what you're excited about and what, you know, what's what's in the future for cube money. Yeah, that's awesome. So in the short near future, like this, we're really bringing budgeting and banking together on a web app, so that literally, the Q masters course, the coaching,
00:38:32
Speaker
and your banking and budgeting app are all coordinating together.
Future of Cube Money: New Features
00:38:40
Speaker
That's gonna be, that's really powerful. Let me kind of share one thing that's gonna allow. So we will have a completely automated debt elimination system where all you'll have to do is budget the money that you want to put towards debt elimination.
00:39:00
Speaker
and our system will optimize that money to pay off your debt for you.
00:39:07
Speaker
And that is really incredible. You'll have a debt free date depending on how much you're putting towards that. You can use the Roundup feature that is coming to fund that or the sweet feature. If there's money left over in cubes, you don't want to roll that money over to the next month. You can sweep that into debt elimination. So it will accelerate debt elimination like you wouldn't believe.
00:39:31
Speaker
Yeah. Another thing that I'm really excited about is the idea that you just talked about with families. Imagine children being on the same system as the parents, and the parents being able to have oversight in what's happening. Guidance. Educate, communicate. Absolutely. And those children having real life experiences with money,
00:39:58
Speaker
But it's not that no parent wants to talk like, it's not like that. We don't want to teach our kids this. We just don't have a good system or platform to do it. Right. That's right. And imagine that. And so you are able to like.
00:40:12
Speaker
In real time, teach your children that money's real. The consequences have been real. It's powerful. There's all sorts of amazing things you can do with it. And it's all within one app. And the other thing I think is so cool is right now we have teenage kids and we wanted to buy things and you have to give them your debit card or to give them cash and they lose it and all that stuff. Well, you can actually authorize on their card
00:40:38
Speaker
spend from the family budget and it sinks just like you do as spouses or as partners. And so all that is coming. Now that's a big project, a lot of development, but we have laid the foundation to release the first version, which will kind of be like a green light version where you can authorize money on their card. But ultimately this is going to be a full fledged family banking system.
00:41:07
Speaker
Yeah. And I want to speak to that because you mentioned the name. I wasn't going to, but you did. So I do have my kids on green light. It's and I've had them on there about a year now, just because, you know, you guys are building the family version and then we're going to switch over when that's ready. But I have noticed just a massive change with my kids because they all have their own debit card. Even my 10 year old has his own debit card. And again, because I think this is an earlier point you made that I don't think would fully people grasp.
00:41:34
Speaker
The reason my 10-year-old has a debit card is because of that. How did you word it, Shane? Like zero default balance? Default zero. Yeah, default zero technology.
00:41:45
Speaker
So the likelihood of my 10-year-old losing his card is probably high, but because the cards defaulted to zero, nobody could spend that money unless they had my phone. His card is actually tied to my phone. But anyways, so that is why I don't really fear them losing the cards, you know, because it's like somebody could get the card and they couldn't spend off of it. But now their awareness, like when they go into Target and they want a thing of Legos or something, it's like, hey, you know, what does your card have on it?
00:42:12
Speaker
And they get to take responsibility. And then the other really powerful thing of CUBE that I've noticed just for Megan and I is adding budgets. You know, like your child, like my 15 year old isn't going to have 20 categories in her budget yet, but she's got three or four. And so just the ability within CUBE too, Megan and I were like, you know, going through year end and processing the year and looking at our budget for the next year.
00:42:35
Speaker
which was a much better process than what we had the year before, I'll say that. It was like, hey, we need to add two budget categories to our cube for 2022 that we didn't have on there in 2021. We made some small adjustments, looked at our spending, it was very quick, all within an hour. We made those adjustments and we're moving on to 2022 and we just updated our budget. It was nearly effortless compared to some of the conversations we've had in the past.
00:43:02
Speaker
That is to, to me is the scalability of all of this and just the innovation that you're bringing in and stuff you have planned. Like this is going to get better and better and better. And so I guess that's what I'm personally super excited about. I don't know if there's anything you want to add to that, Shane, but no, we're excited to Brian and thanks for your belief and enthusiasm about
Integrating Banking and Budgeting: The Cube Money Revolution
00:43:21
Speaker
it. But that is our intention to truly create a banking environment where spending and saving money with purpose is as easy as breathing.
00:43:31
Speaker
You know, honestly, like this is so cool. And this is why we partnered with you so long ago, honestly, Shane. And so if you want a little bit more of this, you need to go to cube money.com and cube is spelled with a Q Q U B E money.com. Money is money. Money is the money.
00:43:49
Speaker
And then what you can do after you log in is you can put our promotion code for two months of free for the premium or 60 days free of the discount code. The discount code is uncommon. So it's not crazy. It's uncommon. Uh, but definitely go on there and, or at least go on there and check it out. Hopefully it's for you and your spouse, um, and your family. But man, the fact that Brian has had success with it is like enough testimony for me. Like, all right, sign me up. And so.
00:44:19
Speaker
And then we'll also have a little bit more kind of dialogue on how you can get enrolled if you were like, you know what? Honestly, I just need a coach. Like, I need a coach. And we want to be there for you. But Shane, amazing job at just filling a need, serving people so well, and changing behavior in money.
00:44:38
Speaker
That is the biggest thing I think that I wanted to take out of this is just how amazing it is when you feel like you're actually ahead of your money, when you have a plan for it, when you're intentional with it, and you're starting to see freedom by taking control and being intentional your money. So great job, man. Yeah, thank you. Thanks for what you guys are doing. One thing I think I want to highlight just as before we end is is
00:45:03
Speaker
A lot of people are like, well, why can't I just do this with my own bank and budget? That's why all the other systems are reactionary. That's why you spend and think about it later. The reason why we're a bank and a budget is so that we can bring these two together. So when you join Cube Money, you literally are creating a bank account. And so that you have the debit card connected and that's part of the change of environment.
00:45:30
Speaker
that is needed to change your life. And so anyways, just know that there are those protocols in creating a bank account that all banks follow and we follow, right? And don't let that scare you because that is you're creating a bank account so that you can change the environment of your money, change the system of your money to reach the goals and dreams you have for yourself. Yeah. No, I think that's an important point.
00:45:57
Speaker
Wait, I do want to say like, Hey, for one year, it's what is it? 50 or $75, $76 a year. If you pay annually. So it's not crazy. Like this is something that like everybody should do. Um, and you can pay that monthly, but, uh, if you pay it annually, it's uncommon.
Encouragement and Offers for Listeners
00:46:15
Speaker
So yeah. So you can do this.
00:46:18
Speaker
Yeah, and there's a free version of the basic version that gives you up to 10 cubes. And it's completely free banking, you get subscription controls, a lot of cool things. But when you go to the premium, you have unlimited cubes, which is like unlimited budget categories, you get to join as as couples. And you get the budget automation and a lot of the
00:46:42
Speaker
additional tools that make it just a lot easier a lot more fun and honestly like we don't really push a lot but like this is something I would say every listener needs to go do like just go do it it is the only system out there like we keep saying it that does this and I would just I would just say go premium like it's worth the money to have the full functionality of the system you're gonna save that money probably in the first month and
00:47:04
Speaker
It is a different system. And so yeah, just get over that. And then Philip and I are going to be bringing a lot more resources on this. Like we've mentioned, we've hired a financial coach. He is CUBE certified. That process is already done. So we're going to be launching some things with him. He's amazing guys. Thanks.
00:47:20
Speaker
Yeah, we're excited about him. And so we're going to be bringing a lot more on this. This is why we're strategically partnering with cube and hiring to it. Because we think this is an absolute game changer for our clients, prospective clients, whether you're not a client of ours or not, this is this could benefit you. So thanks for your time today, Shane, it's always good to catch up with you. It's been fun to watch you just build and grow and lead your family and your businesses, you know, over the last two decades, and I can't wait for what's ahead of us to
00:47:50
Speaker
Thank you, Brian. It's been an honor to be here with you both. Philip, thank you. Yeah, absolutely. You've been listening to the Uncommon Life Project. Thanks for tuning in and tuning in to us next time. Have a good day. Go be in common. Bye. That's all for this episode of the Uncommon Life Project, brought to you by Uncommon Wealth Partners. Be sure to visit uncommonwealth.com to learn more about our services. Don't miss an episode as we introduce you to inspiring people who are actively pursuing an uncommon life.