Become a Creator today!Start creating today - Share your story with the world!
Start for free
00:00:00
00:00:01
Simple Step: Automate Your Goals
166 Plays2 years ago
The uncommon path is a step by step thing, but it doesn't mean you can't make those steps a little easier for yourself when the opportunity arises. This week, we're talking about automating your goals. The key is to get started and then start moving the goal post bit by bit to help you on your way. Small actions add up over time, no action does, well, nothing.
Let us know how simple steps have built up over time for you by sending us an email at podcast@uncommonwealth.com.
Recommended
Transcript
Introduction to Uncommon Living
00:00:00
Speaker
Everyone dreams of living an uncommon life and the best asset you have to achieve your dreams is you. Welcome to the Uncommon Wealth Podcast. We're going to introduce you to people who are living uncommonly. We're also going to give you some tools and strategies for building wealth and for pursuing an uncommon path that is uniquely right for you.
00:00:25
Speaker
Hello,
Automating Goals and Savings
00:00:26
Speaker
hello, hello, hello, hello. This is Phillip, and you are listening to the Uncomi-Wolf Podcast. Hello. Hello. Aaron Kramer, everyone. I'm Aaron Kramer, yeah. We have a simple step for you, coming at you hot. That means five minutes or less. What are we talking about? Automating your goals. Automating your goals. How do you do it? Yeah. Why do you do it, and why you should do it. Basically, the basic premise, Aaron, I'll let you go, is just putting your, when we're talking about goals and things that we're saving for,
00:00:53
Speaker
automate your savings. Just have it auto drafted out. It's not hard. It's not hard, but it's powerful. Yeah. And you do this for four or five months and the momentum that you get in this is, is like through the roof. And then you also like, well, I don't know if I want to go out to eat that day. I'm going to add some to my, my savings. So it is something small, but I do feel like the implement implications of this small little tweak is super helpful. Yeah.
00:01:20
Speaker
So, automate it. Automate it. So how would you, I guess, lead somebody to
Starting and Scaling Savings
00:01:28
Speaker
do this? Yeah. How would you coach them to do this? So let's say someone comes to us and they want to save for something, and we put a plan together, and they need to start saving. I don't know. Your typical advisor was like, you need to start maxing out your Roth IRA, right? Right. I'm sorry. What? You want me to give me $500 a month right now? My budget can't fit that. Yeah.
00:01:50
Speaker
So instead, let's find what's, what is comfortable. Let's say a hundred dollars a month. It's comfortable. Cool. And six months with the client's permission, can I bump it up to a hundred and $10? Yeah. Well, and like, cause you're not going to feel $10. And this doesn't have to be done with your advisor. You can just do this with your account at the bank. Whatever you want to do is a hundred dollars a month. We can, we can do this. Yeah.
Aligning Savings with Core Values
00:02:14
Speaker
you can make some choices to squeeze out $100 and pretty much any savings. But what you're doing is being strategic in what you're passionate about, and we've talked about goals and your core values before, but then you can use that for something that's bigger than, or something that's aligned in your core values. And you can get momentum.
00:02:33
Speaker
And it's in lining and everybody gets excited about it because it's following your core values. Man, I can't tell you automate this stuff and you are gonna find the benefits of this in the future. You can really pour into what you're excited about. You can get your kids excited about it. It's also instilling them in core values that is powerful to help you save things. And it doesn't matter what your budget is, how big or how small. This is such a great, simple step.
00:03:01
Speaker
for you to start down your own uncommon path. Would you agree? I agree. Well, totally agree. And set it up like to where if it's, you know, there's not a lot of money in your budget, that's totally fine. Set it up $25, $20, $5, whatever it is. And if you have to move it up $1 every six months, whatever, you know? Or you can try to do this game where like every month I'm going to move it up at a dollar or whatever, $10. Automate it. Your bank will allow you to like schedule those,
00:03:28
Speaker
things for you. So you don't have to go in and remember. Cause if you're anything like me and you forget, you're like, dang, I was going to do that. Yeah, right. So automated right away. Automate it.
Creative Savings Strategies
00:03:39
Speaker
Yep. I was just meeting with this gentleman and he said, I want you to help me open up a five 29 for my kids, for my kids savings for college. Yeah. Awesome. I want to put $50 a month in that. And I was like, all right, yeah, that's good.
00:03:50
Speaker
I was like, tell me what's going on. And he kind of talked through it. Well, him and, uh, him and his wife were like, not on the same page. So like, this is psychologically, like, he was like, I just have to do something. I was like, how about you put a hundred dollars away? Cause he had two kids a month. And then you take them on a really fun vacation, you know, in a year, you know, like out of the $1,200 and he was like, Oh wow. He's like,
00:04:12
Speaker
never thought of it that way. Now, he's probably gonna have less for his kids at college because he hasn't done the 529, but the amount of memories that they are gonna like really like, it's gonna be instrumental, the memories that they make, and it's gonna be more than the $50 a month that's gonna accrue to college. Now, at some point, he's probably gonna start making more money, and that's when like, okay, now we can start the 529s.
00:04:36
Speaker
Yeah. But at first, like I felt like there was a huge void in what him and his wife are on the same page with. She was wanting more experiences now. He was like, Hey, I want to do something. And he was kind of missing the boat. Does that make sense? And that's why I was like, listen, I think we should just do this. And we automated it. And to this day, like it was probably five or six months ago, like there's $600 in there. And like, you can start seeing him getting excited. Yeah.
00:04:58
Speaker
It's working, and my wife is excited, and we're all talking to the kids, and they're excited, and now we're going somewhere. So it works, it's powerful, it's not that big of a, I think, step. It's called a simple step, but it is powerful in the grand scheme of things of what you want to do with your family, and it's the core building blocks for us to help you down your own uncommon path.
Automating Debt Payments
00:05:23
Speaker
Yep, it can be the opposite way, too, real quick. If you got to pay off debt,
00:05:27
Speaker
Oh, that's fun. Go automate payments, automate it to come out and like, don't let the minimums come out, you know, automate the amount that you want to do it. And if you want it to grow again, automate and schedule it to the grow increments that you want it to be. It's good.
Closing Encouragement
00:05:41
Speaker
All right. So you listed the uncommon wealth podcast. I've been your host, Philip Ramsey and I'm Aaron Kramer. Until next time, go be uncommon. Hope this helps. Yeah.
00:05:49
Speaker
That's all for this episode, 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.