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Stay Sparked #32 - "Money Mindsets" Part 3 (with Craig Saloner)
6 Plays2 years ago
In part 3 of our MONEY MINDSETS series, we talked with Craig Saloner about setting up healthy financial systems for ourselves and our families.
GUEST:
Craig Saloner is a financial coach that works with heart-centered clients to improve their relationship with money. Addressing both the mechanics and psychology of building wealth, he teaches a natural and holistic approach to investing, saving and growing riches. Craig is an active investor and businessman who has a robust and diversified portfolio. He is passionate about community, and lives in an eco-village that he co-founded with his beautiful wife and three amazing kids.
For more information: www.CraigSaloner.com
Craig's balance sheet: https://youtu.be/okTa6mWMGK0
HOSTS
BETSY FINKLEHOO is a healer of massage therapy, CranioSacral and Dharma Coaching. She is an 8 year burner and has spent the last several years seeped in the personal development world, cultivating her passion for transformation and growth. Her recent project, The Power Affirmation Journal and virtual group empowers women to cultivate self awareness and healthy habits so they can live in greater freedom, mind body and spirit.
http://poweraffirmation.com/
Click here to get a FREE affirmation for Stay Sparked Listeners!
HALCYON is full-time Love Ambassador. He is the founder of Hug Nation YouTube channel and daily zoom gratitude circles. He is co-founder of the Pink Heart Burning Man camp and the 1st Saturdays project for people experiencing homelessness. In his free time he coaches individuals on how to live joyfully and authentically. His other podcast is "Hard on the 80's."
http://JohnStyn.com
JANUS REDMOON is a 10-time Burner, and has spent the last several years as an advocate for psychedelic medicine research and treatment. He is the founder and CEO of NuWorld Nutritionals, a nutritional supplement company providing mushroom-based, all-natural products to improve and maintain health for both body and mind. (Use code "SPARKED" for 10% off)
http://www.nuworldnutritionals.com
MASSIVE Thank you to Dub Sutra for their beautiful opening music. Check out their incredible music catalogue online.
https://dubsutra.com
Recommended
Transcript
Introduction to Stay Sparked Podcast
00:00:02
Speaker
Welcome to Stay Sparked.
00:00:04
Speaker
On this show, we explore how to stay inspired in the modern world through the most profound lessons from Burning Man, relationships, entrepreneurship, psychedelics, spirituality, travel, and more.
Guest Introduction: Craig Saloner on Wealth Management
00:00:17
Speaker
On today's episode, we are joined by a dear friend, Craig Saloner, to talk about money once again.
00:00:23
Speaker
We get to pick his brain about all kinds of things regarding wealth management, building wealth, mindset, and so much more.
00:00:31
Speaker
And we discuss where in our lives do we need to be in order to start investing, saving, and perhaps even earning off of assets.
00:00:40
Speaker
The answer is we can start right now.
00:00:44
Speaker
Enjoy the episode.
Podcast Origin and Listener Engagement
00:00:48
Speaker
Welcome to Stay Sparked.
00:00:50
Speaker
We are longtime friends that have been having inspiring conversations at gatherings for over a decade, and we have decided to start recording them and sharing with you so that way we can spread the sparks of inspiration.
00:01:02
Speaker
If you have been enjoying these episodes, please let us know by leaving a five-star review on Apple Podcasts, and we love hearing your reviews.
Meet the Hosts
00:01:10
Speaker
I'm Betsy.
00:01:11
Speaker
I'm Halcyon.
00:01:14
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And I'm Giannis.
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And on today's episode, we have our very first guest, Craig Saloner.
00:01:21
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Hi, everybody.
00:01:22
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Yay.
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Yay.
Expressions of Gratitude and Community Support
00:01:25
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Number one.
00:01:27
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So we love starting every episode with gratitude.
00:01:31
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So love to start with you, Janus.
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What are you grateful for today?
00:01:36
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I am grateful today for actually part of a
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Craig is here for is realizing that my community, our community is loaded with people who are really smart about a lot of things, really skilled and adept at a lot of things.
00:01:53
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I am
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I'm kind of redoing my business right now.
00:01:56
Speaker
So I'm needing to do like the website needs to be redone.
00:01:59
Speaker
I need new photos.
00:02:00
Speaker
I need like new labeling just across the board.
00:02:03
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I have a lot of like stuff I need to do and redo.
00:02:07
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And I am able to just go into my phone book or my phone and just dial in my contacts and be like, Hey, so-and-so can you take these pictures?
00:02:14
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Like, you know, so-and-so and also my partner and I were looking for a new house and I have friends, dear close friends who are realtors or in the realtor business.
00:02:22
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And so,
00:02:23
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I haven't had to like, you know, go online and look for, you know, help from or assistance from strangers in a lot of things in my life.
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It's like, uh, it's, it's, I'm feeling, I'm feeling gratitude just to be able to call my community.
00:02:35
Speaker
And I've got a lot of wonderful friends who are really smart about a lot of things and it's happy to be, um, to be connected to these people.
00:02:42
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So feeling gratitude for that for sure.
00:02:45
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Nice.
00:02:45
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Amazing.
00:02:47
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Oh, well, my gratitude this week is for all of my previous and past romantic partners.
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I am currently deeply in love in a beautiful relationship, and I am so grateful for the
00:03:04
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patience and lessons and just the profound impact of the people who have dedicated huge amounts of their lives to me in our past relationships.
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And I'm just feeling a lot of gratitude and appreciation for those beautiful people.
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Thank you all.
00:03:24
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I'll share my gratitude next.
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I love that.
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I am grateful for this beautiful home that I am getting to house sit this last couple of weeks.
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It's a friend of mine who is traveling and I'm taking care of his plants.
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And he happens to be a crystal collector of large crystals.
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He has a labradorite countertops, giant amethysts in pretty much every room.
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There's like crystals on the like little knobs in the kitchen and just like crystals are everywhere.
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And I'm such a crystal lover.
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And so I'm kind of in crystal heaven right now.
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So really, really grateful for this beautiful home that it feels like a temple to get to be in right now.
00:04:08
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Oh my God.
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How perfect is that for you?
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Oh my gosh.
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That's great.
00:04:12
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No, it's like one crystal attracting another, right?
00:04:15
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Yeah.
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Yeah.
00:04:17
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How about you, Craig?
00:04:18
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What are you grateful for today?
00:04:20
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Well, first, I'm super grateful to be invited on this.
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I'm grateful that the three of you are taking the helm and choosing to have a conversation.
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And so grateful that you, you know, chose to invite me as your first guest.
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So I'm very grateful for that.
00:04:36
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I'm
00:04:37
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I'm also so grateful for all my teachers, you know, whether, you know, starting from my parents and my, you know, my dad, and we'll get into some of my story a little bit, but, but really all the, you know, all the experiences, like, like, like Halcyon said, right?
00:04:50
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Just this idea of, of,
00:04:52
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all the people that came into our lives that shared their time, their space, their experience.
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And even if those experiences weren't, weren't wonderful, the lessons that we were able to garner, the wisdom we were able to attain from it.
00:05:05
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And just, you know, the culmination of that through a lifetime leads to this like magical, beautiful adventure that we get to live.
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And, and I'm just, I'm just thrilled and grateful and I feel blessed and I'm just so happy to be here.
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So thank you.
00:05:19
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Thank you all.
Craig's Approach to Wealth Coaching
00:05:21
Speaker
So good.
00:05:21
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I feel that.
00:05:23
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Well, we're so grateful to have you here because we have been in the last couple of episodes talking about money, money mindset, money attitude, some of our own personal journeys on finance and prosperity and also scarcity.
00:05:39
Speaker
And we were actually really tuning into expanding this conversation into financial literacy, financial education, just bringing it down into some of the logistical things.
00:05:50
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And we, coming back to Janus's gratitude, we're realizing that we have someone in our direct community, our soul family, you, Craig C. Love, for those of you that don't know, love to give a more formal introduction to this amazing, beautiful soul.
00:06:07
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So Craig Saloner, also known as C-Love, is a financial coach that works with heart-centered clients.
00:06:13
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Me being one of them, I'm so grateful to get to be taking your course right now.
00:06:17
Speaker
He helps to improve the relationships with money, addressing both mechanics and psychology of building wealth.
00:06:23
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He teaches a natural and holistic approach to investing, saving, and growing riches, and I'll add on, in a fun and applicable way.
00:06:31
Speaker
Craig is also an active investor and businessman who has a robust and diversified portfolio.
00:06:37
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He's passionate about community, obviously.
00:06:40
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lives in an eco village here in Southern California that he co-founded called Emerald Village and has a beautiful wife and three amazing children.
00:06:49
Speaker
So we're so grateful to have you here and to spark this conversation and really dive in, explore some of these wonderful concepts with our extended community.
00:06:59
Speaker
Yeah.
00:06:59
Speaker
Let's do it.
00:07:02
Speaker
So I'd love to kind of like see if either of you guys, Halcyon or Janus want to start us off with a question for Z-Love.
Foundational Financial Advice and Early Investment
00:07:11
Speaker
I mean, my first question is, as you see the three of us aging hippies talking about money, what are the things that you go, oh my gosh, I sure hope they know about XYZ.
00:07:29
Speaker
I mean, I think my first reaction is thank God we're having the conversation now, right?
00:07:36
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And not in 20 years from now.
00:07:38
Speaker
I mean, we know that the baby boomers now, their number one fear is not dying.
00:07:45
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It's literally outliving their money.
00:07:48
Speaker
And we have an education system that just still to this day does not teach our children about personal finances.
00:07:55
Speaker
I mean, like, right, how many personal finances did you take in school?
00:07:59
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Zero.
00:08:00
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That anybody.
00:08:01
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And it's mind-blowing, right?
00:08:03
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Because money is such an all-encompassing, pervasive force in the world.
00:08:08
Speaker
I like to say that money is mycelium, right?
00:08:10
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Like it's the mycelium.
00:08:12
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It like penetrates everything.
00:08:13
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It's in everything.
00:08:14
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It's in everywhere.
00:08:16
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And informs so many of our decisions.
00:08:18
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It affects so much of our life.
00:08:20
Speaker
If we have it, we can do, it opens us up to opportunities.
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If we don't have it, it leads to, you know, it clears.
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creates so much pain and trauma and suffering and fighting, right?
00:08:30
Speaker
And there's just the amount of, so when I hear that aging hippies are talking about, I'm like, all right, right on.
00:08:37
Speaker
It's about time.
00:08:38
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I'm stoked because really money, you know, one of my core fundamental teaching and Betsy can thing is like my whole teaching is the steps you take to grow your money are the same steps you take to grow a garden, okay?
00:08:53
Speaker
So I use that metaphor a lot.
00:08:56
Speaker
Just like it takes time to grow a fruit tree, right?
00:08:59
Speaker
You've got to plant the seed and you've got to water it and you've got to nurture it.
00:09:02
Speaker
And it takes time for that tree to root and then grow and then start producing fruit.
00:09:07
Speaker
But once it produces fruit, it produces fruit season after season.
00:09:11
Speaker
Well, so too with
Financial Growth Metaphor: The Garden
00:09:12
Speaker
investing, right?
00:09:12
Speaker
Investing takes time.
00:09:14
Speaker
It takes, like money takes time.
00:09:16
Speaker
It takes time to grow wealth.
00:09:18
Speaker
So,
00:09:20
Speaker
you know, people say like, when's the best time I should have started?
00:09:23
Speaker
Well, you should have started investing 20 years from now.
00:09:24
Speaker
When's the second best time is like today.
00:09:26
Speaker
So because we got it, like there is a process, there is a, there is a natural flow to the way money works into the way money grows.
00:09:34
Speaker
And the most important thing is to, to start getting into the game and to understand how the systems and the mechanics work and,
00:09:42
Speaker
And a lot of that requires just us getting out of our own way and going, okay, getting at peace with money and healing some of that old trauma and those old blockages.
00:09:54
Speaker
Absolutely.
00:09:55
Speaker
And, you know, I really want to highlight this concept that you have been using that has really helped me around using using the metaphor of building a garden, because I know personally for me, learning about money was always really kind of intimidating and scary because the only class that actually was available when I was in high school was like,
00:10:16
Speaker
Just the language was just so confusing to me.
00:10:19
Speaker
I didn't understand it.
00:10:21
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It was very difficult.
00:10:22
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I took the class and I dropped out pretty much immediately because it just was too overwhelming for me.
00:10:27
Speaker
And so I actually shied away from learning about money because of the language barrier, even though it's all in English, but it just seemed like jargon to me.
00:10:36
Speaker
And so what I really value about the way that you teach about money is speaking in a way that is very applicable, very understandable.
00:10:46
Speaker
Um, the metaphor of the garden is something that I think we all can really understand, right?
00:10:51
Speaker
Like having healthy soil is an important part of having a healthy garden.
00:10:58
Speaker
Right.
00:10:58
Speaker
And it's like, if we don't have a healthy foundation for our money to grow, then it's not going to bear fruit.
00:11:04
Speaker
Right.
00:11:05
Speaker
And so
00:11:06
Speaker
the course that i've been taking with um with craig it's uh it's just been really a game changer for me to start to see my finances in a whole new level so i'd love it if you could actually share a little bit more about that analogy yeah so you know and and you know i must be honest i've lived on an eco village for 12 years and i and i'm not a gardener i i handle the finances of the village and
00:11:33
Speaker
But you don't have to, like you said, you don't need to be a gardener or someone who has a green thumb in order to understand the metaphor, right?
00:11:41
Speaker
We teach in metaphors all the time.
00:11:43
Speaker
We teach our kids in stories and in metaphors and it helps to understand it, right?
00:11:48
Speaker
Certainly, if I had a garden and I wanted to improve it, the first thing I would do is I would actually take a look at the current state of the garden.
00:11:59
Speaker
What's growing and what's dying?
00:12:01
Speaker
Are there weeds?
00:12:04
Speaker
Are there pests?
00:12:05
Speaker
Is there irrigation set?
00:12:07
Speaker
So too with money, the very first thing we want to do is we want to look at our current finances and
00:12:14
Speaker
So many people do not have a, you know, we have a sense, we have a bank account, we've got money coming in, we've got to, you know, we know if we broke or we've got some debt, but like to truly understand what do we own, what do we owe and give you an idea of your net worth and what do we earn and what do we spend?
00:12:29
Speaker
And sort of that's the very first step in the financial process.
00:12:32
Speaker
You're talking about how do we start to ground some of this thing, take it out in the ethereal.
00:12:37
Speaker
Well, the first thing is we've got to do is we've got to look at our money and we've got to look at our current state of our finances.
00:12:43
Speaker
Janos, you want to start a business like that thing is going to take some cash flow.
00:12:46
Speaker
That thing's going to, you know, you've got to pay your photographers.
00:12:48
Speaker
You've got to pay your designers.
00:12:50
Speaker
We've got to know where we're at.
00:12:51
Speaker
We've got to know where we're starting.
00:12:52
Speaker
So we have a mechanism for how we can, you know, and how we can track it.
00:12:58
Speaker
So that's the first step is to get clarity in your finances, is to take an observe.
00:13:04
Speaker
And a lot of what I teach, again, there's so much, we've got so much shame and guilt and pain and anguish around money.
00:13:13
Speaker
So a lot of times when we look at our current finances, we can get overwhelmed or we can get into this, we can get into like so much judgment.
00:13:21
Speaker
And so part of what we do is really how can we stay in observation?
00:13:25
Speaker
How can you just like look at where you're at?
00:13:27
Speaker
Okay, this is what my garden looks like, man.
00:13:30
Speaker
I'm not super proud of it.
00:13:32
Speaker
But this is where I'm at, right?
00:13:33
Speaker
And if I know where I'm at, then I can start to bridge to where I'm going.
00:13:37
Speaker
And so, so much of, again, it's this constant bridging of the mechanics of money, which is like how to actually set up the infrastructure, the systems, the processes to grow and build wealth.
00:13:54
Speaker
versus the psychology of money, which is really like our thoughts and our beliefs and our experiences around money.
00:13:59
Speaker
And so we do a lot of that integration work.
00:14:02
Speaker
And that was really just the first step.
00:14:05
Speaker
So I love this idea of healing the blockages and dealing with the attitudes.
00:14:12
Speaker
And I'm curious, you know,
00:14:15
Speaker
how how much of the beliefs and attitudes are necessary to get healthy or can someone just say tell me what to do tell me where to put my money tell me what to do or or do i really have to do the work and and and understand that yeah it's a great it's a great question right it's a great question uh
00:14:40
Speaker
I had a great teacher who said that we have like a financial thermostat.
00:14:45
Speaker
Okay.
00:14:46
Speaker
And so the question is, is really what type of garden do you wanna grow?
00:14:49
Speaker
And how big do you wanna grow?
00:14:50
Speaker
And how many people do you wanna feed with it?
00:14:52
Speaker
Right?
00:14:53
Speaker
Like, and this is, so again, I can teach you all the mechanics and we can set your irrigation lines and we can create your money management system and you can build a garden that can feed you and maybe it's enough and you can take care of your bills and everything else.
00:15:08
Speaker
But if you want to get to a next level of wealth, if you say, hey, listen, I really want to help lots of people or I really want to have enough to build my community.
00:15:16
Speaker
Well, then you've got to do the work to make yourself feel deserving and worthy of more abundance.
Addressing Money Beliefs and Attitudes
00:15:23
Speaker
We know this.
00:15:24
Speaker
We're in the energy space, right?
00:15:26
Speaker
I mean, I don't need to share with you how important it is.
00:15:30
Speaker
And so if we've got belief systems such as a common belief is that rich people are greedy.
00:15:40
Speaker
If I'm holding that belief or money is the root of all evil, if I'm holding that belief, there's no amount of investment advice that I can give you
00:15:49
Speaker
will, you know, eventually, if I hold the belief that money is the root of all evil, then if actually money starts coming, what lands up happening is we start self-sabotaging, we start giving it away, we start making silly decisions, because I subconsciously do not want to be evil.
00:16:04
Speaker
So I push away wealth, and I remain with my little garden, and I remain with my little patch.
00:16:09
Speaker
And that's cool.
00:16:10
Speaker
If that's where you want to be, God bless it.
00:16:12
Speaker
But I believe that with more money, we can do more good.
00:16:15
Speaker
That is like a mantra that I have and I teach.
00:16:18
Speaker
And therefore, we have to do the inner work.
00:16:21
Speaker
We have to feel like, oh, I'm deserving.
00:16:23
Speaker
I'm worthy.
00:16:24
Speaker
More money.
00:16:24
Speaker
I can do more good.
00:16:25
Speaker
Please, Lord, give me more so that I can share more and give more.
00:16:30
Speaker
Yes, absolutely.
00:16:31
Speaker
It's going right back to that metaphor of the soil, right?
00:16:33
Speaker
If you don't have healthy soil, then you can't grow a thriving garden.
00:16:37
Speaker
And it's like, what's underneath the surface, right?
00:16:40
Speaker
You can't quite see underneath the surface of the top soil.
00:16:44
Speaker
If there's like old roots in there that are taking over, or if there's like
00:16:49
Speaker
It's too dry or there isn't enough bacteria in there to really produce more, then it's not going to grow, right?
00:16:55
Speaker
And you're talking about that same thing.
00:16:58
Speaker
I love that you said the money is the root of all evil, right?
00:17:02
Speaker
It's like what are their core roots in that belief system work to be able to clean that up?
00:17:07
Speaker
Yeah, and these rocks, I call them the rocks, right?
00:17:09
Speaker
These rocks that live underneath the ground, so they're buried.
00:17:12
Speaker
They were formed by our parents, by what we heard, what we saw, what we experienced.
00:17:17
Speaker
And these things, they live, they live within us, and they stop us from rooting and growing taller.
00:17:24
Speaker
And so until we can uproot some of those non-supportive limiting beliefs, those traumas, those past experiences that are non-supportive anymore, well, when we can do that work and we're able to release some of that, the growth that I see in my clients, when we're able to unlock some of this stuck energy and just like, oh, the expansiveness.
00:17:44
Speaker
And all of a sudden, money starts flowing and things start happening in abundance.
00:17:49
Speaker
Yeah, it's really a miraculous process.
00:17:53
Speaker
Nice, nice.
00:17:55
Speaker
And that's something that we've touched on in the last couple of episodes we've done.
00:17:59
Speaker
We've really dove into like mindsets and where they come from and how to root those and to kind of heal that process.
Investment Habits and Compounding Interest
00:18:07
Speaker
So assuming that, let's say somebody has somebody has done that work or continuing to do that work.
00:18:13
Speaker
And now they hear about somebody like you, Craig, and it's like, okay, oh, a financial advisor.
00:18:19
Speaker
That's, you know, let's go to a financial consultant, financial empowerment coach.
00:18:23
Speaker
what have you, the mindset might then be, okay, well, I don't really feel like I have enough to invest or I have enough to hire or take on somebody like yourself.
00:18:36
Speaker
So what would you say to somebody who might have the idea that they don't have enough money to invest or they don't have enough money to invest?
00:18:46
Speaker
take you on, they don't wanna waste your time.
00:18:48
Speaker
So what would you say to somebody who came to you with that sort of perspective?
00:18:55
Speaker
Everybody has enough to start investing.
00:18:59
Speaker
Everybody should be investing on a regular basis all the time.
00:19:04
Speaker
And look, I've dealt with clients have negative net worths who are massively in debt.
00:19:09
Speaker
And what we do is we create the systems.
00:19:11
Speaker
It's not, and the statement is it's not the amount that matters, it's the habit.
00:19:17
Speaker
It's really just, it's getting into the idea of like, even if I took $10, $50, $100 a month, and I just put it into an investment account and I put that into, I buy one fraction of one share or I buy one stock.
00:19:32
Speaker
What's happening is that the energetics is changing.
00:19:35
Speaker
What I'm moving is I'm moving from consumer to investor.
00:19:38
Speaker
I'm beginning to put energy in towards that garden and slowly, and it's a process, right?
00:19:44
Speaker
And also that's part of why we also, we got to look at where our spending is.
00:19:48
Speaker
Where is the leaks in the irrigation system?
00:19:50
Speaker
Where are we spending money all over the place?
00:19:53
Speaker
There's always places that we can just tighten up a little and start putting.
00:19:58
Speaker
Because the key to investing is that investments take time.
00:20:02
Speaker
Like I shared about the fruit tree, it takes time to grow money.
00:20:06
Speaker
So what we got to do is we got to get into the game.
00:20:08
Speaker
We got to understand how money works.
00:20:10
Speaker
Money is called currency because there's a flow to it.
00:20:16
Speaker
And if we do what we always did, we're going to get what we always got.
00:20:19
Speaker
If we don't start investing, we're never going to invest.
00:20:22
Speaker
So now in your 20, you know, and what I teach is that look, when you're investing, you're not investing for your, you're investing for your future self.
00:20:30
Speaker
You're investing for yourself 20, 30 years from now, 15, 20 years from now, so that you're not having to be 75 and working, you know, 40, 50, 60 hours a week to pay the bills.
00:20:43
Speaker
And so the habit is more important than the amount.
00:20:45
Speaker
And just get understanding how money works, understanding the power of compounding interest, understanding that you could buy a little share called Amazon in 1997 for $5,000 and you'd be worth $7.9 million to that.
00:20:58
Speaker
You know, like that's just how it happens, right?
00:21:02
Speaker
So if you put a little bit in every month, then over time it can grow and expand.
00:21:08
Speaker
I think that also really speaks to the feedback loop of our mindset too, right?
00:21:12
Speaker
Because if you're putting those habits in, then you're actually investing, then you start to see yourself as somebody who's an investor, right?
00:21:20
Speaker
And that can start to shift the old program that says I'm broke, or I don't know anything about money or whatever that negative belief system is.
00:21:27
Speaker
So those little tiny little habits, or if you're a gardener, you, you know, you say you don't know how to garden.
00:21:33
Speaker
But then you just start to practice a little bit.
00:21:35
Speaker
Then you start to see yourself as a gardener or someone with a green thumb.
00:21:39
Speaker
And then all of a sudden you start getting better and better and better because we start believing in ourselves and seeing ourselves as that wealthy person or the person who's able to grow in abundance, whether that's a garden or finances.
00:21:53
Speaker
Yeah, absolutely.
00:21:54
Speaker
Like this shift from consumer to investor is so important, right?
00:21:57
Speaker
Like, in other words, like you, you, you're beginning to understand that the game can be played in a different way.
00:22:03
Speaker
And it's, it is a game, like make no mistake, money is a game.
00:22:07
Speaker
There are very specific rules to the game, financial statements of the scorecard, like, and most people just don't understand the rules because it was, like I said, it was never taught to them.
00:22:17
Speaker
When you understand the rules, when you understand the mechanisms, all of a sudden things start happening that you were unexpected and that is like the sprouting starts happening, wealth starts to build.
00:22:28
Speaker
Yeah, and I think it's significant when you learn
00:22:32
Speaker
that some of the rules are counterintuitive to kind of the logic that you learned in school.
00:22:37
Speaker
Like I remember, you know, it took me until two years ago at 50 that I invested in my first property into the condo that I'm living in now.
00:22:45
Speaker
And I didn't realize until that process, the whole concept behind real estate investment and that, you know, you put 20% down and then I gain the benefit of the entire property's worth, you know, as it, as it grows now,
00:23:00
Speaker
i i'm sure that didn't land if you don't know that concept it's probably not gonna land the way i described right now but it was a concept that was totally foreign to me and it made it so that investing in real estate just didn't make sense to me according to the previous way that i understood the world and you mentioned compounding interest i'm wondering could craig could you give us just like a a intro to compounding interest that is the kind of concept that helps you go oh wait that's not the way i understood the world yeah so i mean again compound compounding interest is the idea that
00:23:30
Speaker
where it's the idea that interest, you earn interest on your interest, right?
00:23:34
Speaker
And it works on an exponential, it works on an exponential curve.
00:23:39
Speaker
So you have $100 and you earn 10% interest.
00:23:43
Speaker
Now you could do two things with that 10%.
00:23:45
Speaker
So you earn $10 of that $100 capital, right?
00:23:49
Speaker
Now you can do two things with that $10, that $10 interest that you earn.
00:23:52
Speaker
You could either spend it, in which case your capital would remain $100, and then you would earn the same $10 the next year, or you could reinvest it.
00:24:01
Speaker
So compounding interest requires you to reinvest the earnings that you earned.
00:24:07
Speaker
So in year two, assuming that you reinvested it, you would then have $100 initial capital plus the $10 you earned in year one.
00:24:15
Speaker
So you would now have $110 of capital, what I call bees, working bees.
00:24:20
Speaker
These are the bees, the honeybees that are out there pollinating.
00:24:24
Speaker
And the interest now, same, same, so you made that same 10%.
00:24:27
Speaker
Instead of the $10 you would have earned, you now would have earned $11.
00:24:30
Speaker
You reinvest that again, year three, you got $121, and now you're earning $12 interest.
00:24:37
Speaker
And it doesn't seem like a lot until it gets to a tipping point.
00:24:42
Speaker
This is what I'm saying.
00:24:43
Speaker
I'd rather have my 40 or 50 year old hippies talking about it now than in 20 years from now, because we need time.
00:24:49
Speaker
And I say, if you constantly, if, and that's why teach it to our children, teach it to our teens, teach it to the 20 year olds, because compounding interest needs the reinvest, you know, it needs a good interest rate, it needs the reinvesting of the earnings and it needs time.
00:25:03
Speaker
And when you give those three things, all of a sudden you grow an orchard of diversified assets that are
00:25:09
Speaker
pushing out big amounts of produce year after year.
00:25:13
Speaker
And that's how we ultimately lead.
00:25:15
Speaker
Now, I know it's not sexy because it's not quick and everybody wants quick, quick, quick.
00:25:22
Speaker
Like wealth, building wealth is a long game.
00:25:26
Speaker
Now, I'm not saying that you can't, like I have an investment strategy of sort of 80% stocks and bonds and 20% I like to throw at little individuals, right?
00:25:35
Speaker
So hopefully you can get a big hit.
00:25:36
Speaker
Startups, I want to invest in Giannis' company because I think it's going to go large, right?
00:25:42
Speaker
And so when we do that, when we're in the game, we both have the opportunity of building long-term wealth and the opportunity of really picking a stock or a bond or something that you could have really like explosive growth.
00:25:55
Speaker
Cool.
00:25:55
Speaker
So if I'm hearing you correctly, I put it all into crypto.
00:25:58
Speaker
Is that what you're trying to say?
00:26:05
Speaker
No, we all had it, right?
00:26:06
Speaker
I mean, whoever went on that ride, boy, was it a ride?
00:26:08
Speaker
Am I right?
00:26:09
Speaker
You know, and we all, I mean, again, and I was, I kept teaching, I keep sharing, please make it part of it.
00:26:16
Speaker
It's one crop in your, in your whole orchard.
00:26:19
Speaker
It's one fruit tree.
00:26:20
Speaker
Don't,
00:26:21
Speaker
Don't have a monocrop.
00:26:22
Speaker
We see what happened with monocrops.
00:26:24
Speaker
Monocrops can get eliminated with poor weather conditions, right?
00:26:28
Speaker
It's the same thing.
00:26:29
Speaker
We want to be diversified.
00:26:30
Speaker
So I'm still a fan.
00:26:32
Speaker
I say you should have a percentage of your portfolio in crypto.
00:26:36
Speaker
You should have a percentage of your portfolio in stocks and bonds and real estate and da-da-da-da-da, right?
00:26:43
Speaker
So that because different investments respond differently to different economic conditions.
00:26:48
Speaker
And so if you are diversified, you will balance out your portfolio and you will have standard and long-term growth.
00:26:57
Speaker
Right.
00:26:57
Speaker
Cool.
00:26:58
Speaker
Cool.
00:26:59
Speaker
Thank you for that.
00:27:00
Speaker
And one thing I also wanted to want us to touch base on with you, in particular, you have a number of offerings, like you have programs for women, you have programs for men, you have programs for couples and teens.
00:27:17
Speaker
I'm curious as to what is the difference between these programs that you find?
00:27:21
Speaker
What sort of information do you find is specifically pertinent to women as opposed to men?
00:27:29
Speaker
I'm sure there's crossover to both and for couples as well.
00:27:31
Speaker
But what do you find is important specifically for a couple of these different groups?
00:27:38
Speaker
So mostly it's language language.
00:27:43
Speaker
mostly it's language and delivery.
00:27:45
Speaker
The system, like money runs on a set of principles.
00:27:49
Speaker
Like it doesn't matter if I'm teaching it to a man or a woman or a child, like there are the, the way to grow a garden is standard across the board.
00:27:59
Speaker
You got any, you need,
00:28:02
Speaker
like step one, you got to look, you got to take, observe, you look at your finances.
00:28:06
Speaker
Step two, you got to look at your soil conditions and your belief system.
00:28:09
Speaker
Step three, where are you going?
00:28:11
Speaker
Step four, create the money management system.
00:28:13
Speaker
All of it's the same.
00:28:14
Speaker
A lot of it's got to do, a lot of it's got to do with, with just languaging and how we, how I share it.
00:28:20
Speaker
And just the voice that I, you know, the, the, the voice and the words that I use now, couples working with couples, that's,
00:28:27
Speaker
like that becomes that's, that's definitely more nuanced.
00:28:30
Speaker
I need more work with couples because we're now trying to consolidate, you know, again, because people come from such different backgrounds and have such different mindset around money that merging that can be so challenging.
00:28:43
Speaker
Right.
00:28:43
Speaker
And,
00:28:44
Speaker
I got to be very careful that I'm not dealing with marriage problems instead of money problems, right?
00:28:48
Speaker
And so the way that I help navigate couples around finances is like the systems.
00:28:54
Speaker
We've got to, can we agree on a shared system?
00:28:57
Speaker
Like, can we agree to like use a system?
00:29:00
Speaker
Like maybe you got your system and I got my system, but this is our system that we can both agree on that creates transparency and it can create and some sort of understanding between each other.
00:29:11
Speaker
But really the essence of financial, the coaching that I do is the essence of the work is all the same.
00:29:21
Speaker
I love that so much.
00:29:22
Speaker
You know, this is when I first started to become aware that you were doing this offerings is when I was spending time with a mutual friend of all of ours that is a couple and they went through your course.
00:29:33
Speaker
And we were out at an event where there was some vending and I observed the way that they shopped together and they made this big purchase together as a gift.
00:29:44
Speaker
And they were talking about their give barrel.
00:29:48
Speaker
And I was like, what are you talking about?
00:29:49
Speaker
Give barrel.
00:29:50
Speaker
And they're like, oh, well, in this empowerment course that we're doing, we have been putting money in a gift barrel.
00:29:57
Speaker
So that way we know when we want to buy a special gift for someone, we have this special place to be spending it from and we can see how much money is in there.
00:30:05
Speaker
And I just loved that so much.
00:30:07
Speaker
It was a really beautiful synergy between the two of them and their language and making that decision together.
00:30:14
Speaker
And so I'd love to see if there's anything that you can share around this concept of the barrels that you teach.
00:30:19
Speaker
Yeah, and it's definitely like, and this is something that I learned from my teacher, T. Harv Ecker, about 15 years ago, and maybe 18 years ago, and I've been using it ever since.
00:30:29
Speaker
I've adapted it.
00:30:30
Speaker
I've made it mine.
00:30:31
Speaker
But the idea is that, you know, just like in a garden, we've got different garden beds, right?
00:30:37
Speaker
You're going to grow fruits and veggies here.
00:30:39
Speaker
You're going to grow plants over there.
00:30:42
Speaker
So, right, most people have all their finances, like in one place.
00:30:49
Speaker
account, a checking account, maybe they have a savings account, right?
00:30:51
Speaker
And everything comes out of that account.
00:30:54
Speaker
They pay the bills, they go out for dinner, they give charity, they buy the Christmas gifts, they go for a restaurant, everything comes out of a single account.
00:31:02
Speaker
And they pay the credit card, they write checks, and both couples are doing... And what lands up happening is there's no transparency.
00:31:10
Speaker
You don't know what you spend.
00:31:11
Speaker
And for
00:31:13
Speaker
with all my entrepreneurs that I work with, they throw all their business expenses into the same account.
00:31:21
Speaker
Everything's running through one single account.
00:31:23
Speaker
There's no transparency.
00:31:25
Speaker
And so what the system does is it creates a different bank account for different parts of your life.
00:31:31
Speaker
So like you shared, there's a give account.
00:31:33
Speaker
So money comes in, it goes into what we call a holding tank, right?
00:31:36
Speaker
Money goes into this like holding tank.
00:31:38
Speaker
And just like an irrigation system on the first or the second of the month, we open that holding tank and money trickles out of there and $100, $200, $500 goes into this give barrel.
00:31:46
Speaker
And then that money is dedicated to...
00:31:52
Speaker
forgiving and that can be charity that can be birthday gifts that can be helping a buddy out pay it forward in addition to the give barrel we also have another one called the play barrel
00:32:04
Speaker
Right.
00:32:05
Speaker
This works really well with my with my with my couples, because some people are spenders and some people are savers and some people are chronic investors.
00:32:14
Speaker
So if we have different bank accounts for each of these parts of ourself.
00:32:18
Speaker
So we have a play barrel.
00:32:20
Speaker
We have a give barrel.
00:32:21
Speaker
We have a save barrel.
00:32:23
Speaker
We have an invest barrel.
00:32:24
Speaker
We have a health and wisdom barrel.
00:32:26
Speaker
So that the chiropractor, the massage, the hair, the thing, it has a specific account.
00:32:32
Speaker
And this eliminates the need for budgets and it gives, creates amazing transparency in our spending.
00:32:38
Speaker
Me and my wife have been using it for, and it's amazing.
00:32:40
Speaker
We don't fight about money.
00:32:42
Speaker
If we want to go out on a Saturday night, we look at our account and how much is that, how much is in the bank account?
00:32:47
Speaker
Oh, there's 500 bucks.
00:32:49
Speaker
Let's go Vegas, baby.
00:32:51
Speaker
If there's 50 bucks, hey, it's Netflix and pizza.
00:32:54
Speaker
And that's just the way we make our decisions is by is there money in the account or is there isn't?
00:32:59
Speaker
And at the end of the month, when it's all gone, it gets replenished at the beginning of the next month.
00:33:03
Speaker
That's a fantastic way of managing and tracking money.
00:33:06
Speaker
It's amazing.
00:33:09
Speaker
It's absolutely amazing.
00:33:10
Speaker
So beautiful.
00:33:10
Speaker
Thank you for putting that out there.
00:33:12
Speaker
And I love this concept of like, you know, being able to use a system that can provide a sense of freedom and
00:33:21
Speaker
Right.
00:33:21
Speaker
Especially within partnership to to see, you know, that so many of the problems that married people have or couples have comes down to money.
00:33:31
Speaker
But to break it down into a way to observe rather than fight about things, just like look at look at how things are rather than having to get into a whole process around it.
00:33:41
Speaker
Yeah.
00:33:42
Speaker
Yeah.
00:33:43
Speaker
And again, back to Yanis's question, when we create the system, the amounts don't matter, right?
00:33:50
Speaker
Like everybody's at different revenues and everybody's got different expenses.
00:33:54
Speaker
But what we want to make sure is that each of those garden beds, each of those accounts are getting nurtured, are getting warded.
00:34:01
Speaker
Like just as important as putting $100 into the invest barrel could be just as important as putting $100 into that play barrel.
00:34:09
Speaker
right because sometimes and sometimes people have all this money and they just don't enjoy it or they like or they go out for that 50 steak have you ever gone out and you ordered that steak and you're like eating it and you're like oh that steak cost 50 dollars and everything you know that was a seven dollar bite you know what i mean and you can't like fully enjoy you or you don't order the wine or you you know it's like we're we're
00:34:33
Speaker
Part of this is to break ourselves out of this and to be able to play and to be able to give.
00:34:40
Speaker
So many people have a hard time giving.
00:34:41
Speaker
They don't think they have enough to give.
00:34:45
Speaker
And giving is in divine communion with God.
00:34:48
Speaker
Our need to give is so important.
00:34:51
Speaker
And when people have this barrel, all of a sudden they feel abundant enough to share and to give.
00:34:57
Speaker
And it just opens hearts and it changes lives for real.
00:35:02
Speaker
that's awesome so can i ask a question just about understanding what systems means so it sounds like systems means uh you know a a framework put in place so that you kind of in advance decide
Automating Financial Management
00:35:16
Speaker
how you're going to distribute your funds so that in moment by moment you're not making a decision you know constantly making decisions over and over again but you're just kind of following a decision that you kind of made
00:35:27
Speaker
at a point of strength and your highest balance and maybe with guidance of an advisor and then that you follow that system.
00:35:33
Speaker
Is that what that means?
00:35:35
Speaker
That's exactly right.
00:35:35
Speaker
Right.
00:35:36
Speaker
What we do is we just like, again, I'll keep coming back to the metaphor because the metaphor makes sense, right?
00:35:42
Speaker
We, we,
00:35:43
Speaker
We look at our garden.
00:35:45
Speaker
We look at our garden beds.
00:35:47
Speaker
We lay down the irrigation pipes.
00:35:48
Speaker
We set the timers.
00:35:50
Speaker
And then we sit back and we allow the system to do the work.
00:35:54
Speaker
The money flows automatically.
00:35:56
Speaker
And our job is to set it and maintain it, not set it and forget it.
00:36:00
Speaker
Because just like a garden, you can't just set it and forget it.
00:36:02
Speaker
You've got to set it.
00:36:04
Speaker
and maintain it, but you're not worrying about it every moment of every day.
00:36:09
Speaker
You know, like the one thing we don't want to do is if you've got a system that requires your attention all the time, if I've got to go out and I've got to water that lawn every day, yeah, I might do it for a week, I might do it for two weeks, but get what, life's going to get in the way.
00:36:22
Speaker
So what we want is a system like an automated money management system.
00:36:26
Speaker
That money comes in, it gets distributed, it goes to our different barrels.
00:36:30
Speaker
I know I'm investing every month.
00:36:32
Speaker
That's also automated.
00:36:34
Speaker
So $100 comes into what we call our financial freedom barrel.
00:36:37
Speaker
I take that $100, I put $50 into stocks, I put $20 into bonds.
00:36:39
Speaker
We automate the whole thing.
00:36:46
Speaker
So that really you can get on with the life and do what you want to do.
00:36:49
Speaker
And money just becomes a subset of that.
00:36:51
Speaker
And there's a system to manage and maintain.
00:36:55
Speaker
And so you definitely, my whole goal with my clients is to, like, that's what I do is I get you the system set up so that you can get on with your life.
00:37:06
Speaker
And then money now is, you know, just becomes something that you maintain and you manage and you move forward.
00:37:14
Speaker
And do you think that this is applicable to many different types of people, whether that is somebody who's on a salary versus, you know, somebody who's on welfare or an entrepreneur or, you know, what you're speaking to is a really amazing system.
00:37:29
Speaker
And I'm just curious as, you know, who is this applicable to?
00:37:33
Speaker
I haven't found... I mean, again, I think it's not applicable to children, okay?
00:37:38
Speaker
Well, I mean, again, I teach an abridged version to kids.
00:37:41
Speaker
Like, my kids get a salary.
00:37:44
Speaker
My kids get an allowance, right?
00:37:46
Speaker
And it's predicated on some things.
00:37:48
Speaker
And they have a jar system.
00:37:50
Speaker
So when you're... You know, you've got to...
00:37:53
Speaker
they've got to save, they've got to play and they've got to give.
00:37:55
Speaker
So those are their three barriers, those are their three jobs that they have.
00:37:58
Speaker
So they are implementing a management system.
00:38:02
Speaker
There is nobody that I've met that could not use the system.
00:38:05
Speaker
I just, I'm, I'm,
00:38:07
Speaker
unequivocally like committed to this.
00:38:09
Speaker
I've seen it.
00:38:10
Speaker
I've dealt with clients with multi, multimillion dollar net worths.
00:38:14
Speaker
I've dealt with clients with negative net worths.
00:38:17
Speaker
The system just works.
00:38:20
Speaker
It just doesn't matter what phase or place you're in.
00:38:25
Speaker
It works.
00:38:26
Speaker
Now there's another piece to this, which is the, which is my entrepreneurs, my small business owners and understanding like how to navigate your personal life,
00:38:36
Speaker
expenses versus your business expenses because the biggest mistake that I see is this intermingling.
00:38:42
Speaker
And what I'd like to teach is the separation.
00:38:44
Speaker
Like you want to treat business and personal like church and state.
00:38:48
Speaker
You know, they're different.
00:38:49
Speaker
They have different balance sheets.
00:38:50
Speaker
They have different profit and losses.
00:38:52
Speaker
They have different rules that govern them.
00:38:56
Speaker
And the only connection between the business and the personal is when your business pays you money into your personal account.
00:39:02
Speaker
Other than that, they run their own business, they have their own bank accounts, their own credit cards.
00:39:06
Speaker
So that's very important.
00:39:08
Speaker
Janos, when you start this business, it should have its own entity, it should have its own identity, it should have its own bank account, should have its own debit or credit card, and neither the twain shall meet.
00:39:19
Speaker
You should not be
00:39:21
Speaker
buying your chiropractic care with your business card unless it's a business expense.
00:39:26
Speaker
Right, right.
00:39:27
Speaker
Well, that's the thing as far as how I understand all these write-offs.
00:39:30
Speaker
I have a friend who owns a car dealership and had talked to me about, and I was talking to him about shopping for cars, and he's like, well, as somebody with your own business, you can write that whole thing off.
00:39:42
Speaker
So that would be a business expense.
00:39:45
Speaker
Speaking of which,
00:39:48
Speaker
A question that I got, not about you, but somebody like you, your services, like somebody asked me like, well, how important is it to, let's say I've got a lot of debt, for example.
00:40:01
Speaker
How does that fit into like a system you've got?
00:40:03
Speaker
Is that something that...
00:40:05
Speaker
that I should be working?
00:40:07
Speaker
Should I clear out a certain amount of debt before I have a conversation with somebody like you?
00:40:11
Speaker
Or can that be incorporated into the plan?
00:40:15
Speaker
So in the finance coaching world, there are different approaches to debt.
00:40:23
Speaker
Like a Dave Ramsey, I'm sure you all know Dave.
00:40:25
Speaker
Dave's got a very hard line on credit card.
00:40:29
Speaker
He's like, you do nothing but take care of your credit card debt.
00:40:32
Speaker
You do nothing until you smash that credit card down and he's got a very clear and definitive system.
00:40:39
Speaker
I do not have that same approach.
00:40:42
Speaker
I believe that we should be investing from day one.
00:40:45
Speaker
So I would just, for multiple reasons, but there's a huge psychological reason to feel like, oh, in addition to taking care of my debt,
00:40:56
Speaker
I'm also taking care of, I'm also investing.
00:40:58
Speaker
So I like the, we build it into the system.
00:41:02
Speaker
If you've got big debt, debt is the biggest, the great leak.
00:41:06
Speaker
It's the big irrigation.
00:41:07
Speaker
That's the hole in the irrigation, right?
00:41:10
Speaker
And it's just sprouting resources out.
00:41:12
Speaker
It doesn't go to your garden.
00:41:13
Speaker
It goes to the bank's garden, right?
00:41:15
Speaker
And so we want to,
00:41:17
Speaker
take care of that leak.
00:41:18
Speaker
And so in order to do that, we still, the way we do that is we put more money towards the credit card, getting it down, and we trickle a little bit.
00:41:27
Speaker
Remember I said it's not the amount that matters, it's the habit.
00:41:30
Speaker
put $50.
00:41:30
Speaker
Instead of $500 into the play account, we put $50.
00:41:34
Speaker
I don't care.
00:41:35
Speaker
You're paying back past expenses.
00:41:38
Speaker
You're going to play less, my man, until that credit card's taken care of.
00:41:41
Speaker
But I want to make sure you're playing just a little, you know, because no play makes Janos a grumpy boy, right?
00:41:48
Speaker
And no investing.
00:41:49
Speaker
So we want to make sure that
00:41:51
Speaker
we're dripping at least a little bit of money while taking care of that debt.
00:41:54
Speaker
Once that debt's taken care of, we turn the faucet up, more money into each of the barrels, each of the gardens, and you can start to grow it that way.
00:42:02
Speaker
So great question.
00:42:04
Speaker
I'm good to hear.
00:42:10
Speaker
So what is...
00:42:14
Speaker
What is the first thing someone does listening to this that realizes that they need to take some steps?
00:42:25
Speaker
Great question.
00:42:26
Speaker
You've got to get clarity.
00:42:28
Speaker
The first step is to really get clarity on your finances.
00:42:31
Speaker
You've got to start paying attention.
00:42:34
Speaker
What do you own?
00:42:35
Speaker
What do you owe?
00:42:39
Speaker
right?
00:42:39
Speaker
So again, in every business, most business owners understand this.
00:42:44
Speaker
Every business owner understands that you've got to have a proper set of financials.
00:42:46
Speaker
You've got to have a balance sheet and you've got to have a profit and loss.
00:42:48
Speaker
And we get that every month from the company, right?
00:42:51
Speaker
So too, we want to create a personal balance sheet.
00:42:54
Speaker
All my assets minus all my liabilities, everything I own minus everything I owe.
00:42:58
Speaker
We've got to get like our point A, right?
00:43:01
Speaker
And that gives us our net worth.
00:43:03
Speaker
What's our current net worth?
00:43:04
Speaker
Where are we today?
00:43:06
Speaker
That net worth might be
00:43:08
Speaker
Small, might be huge, might be negative, right?
00:43:11
Speaker
I might have more debt than I have assets.
00:43:14
Speaker
We've got to look at that with observation, not in judgment.
00:43:17
Speaker
We've got to be like, all right, shit, this is where I'm at.
00:43:19
Speaker
This is where I'm at.
00:43:20
Speaker
Or I've had so many clients that are so pleasantly surprised when they do this exercise.
00:43:24
Speaker
They're like, oh my God, I had no idea I was worth $600,000.
00:43:27
Speaker
Or, oh my goodness, like, wow, when I found a 401k, I didn't even know.
00:43:33
Speaker
The other beauty of that, of doing this consolidated balance sheet is you land up bringing all your expenses into a single document.
00:43:41
Speaker
And this document helps you to just bring everything down into a single page.
00:43:49
Speaker
And God forbid something happens to you, God forbid something happens to your significant other, it's a roadmap to your money.
00:43:57
Speaker
Like how many horror stories have we heard of people dying with millions, millions and millions?
00:44:02
Speaker
I mean, Aretha Franklin just died with $85 million of net worth with no will, no trust, no, and people are like clamoring over, over her will now.
00:44:12
Speaker
Right.
00:44:14
Speaker
And so, uh,
00:44:16
Speaker
this balance sheet is really your first.
00:44:19
Speaker
And I would love to offer that as a gift to listeners and we can put it as a link.
00:44:22
Speaker
And I would love to give that to anybody who wants it.
00:44:28
Speaker
It really gives you a snapshot and also how you diversify it.
00:44:31
Speaker
So if all my money is in property or if I've got only stocks and bonds, but I've got no other assets.
00:44:36
Speaker
So it's broken down into different asset categories.
00:44:40
Speaker
So that's really the first thing.
00:44:41
Speaker
Yes, Betts.
00:44:43
Speaker
Yeah, I would also love to add on to anyone out there that kind of is where I was around believing that I am smart enough to go into learning about finance because where some of my core beliefs came from was I'm not smart enough to manage money, so therefore I'm just not going to make a lot of money.
00:45:04
Speaker
It's just much easier to have less money so I don't have to deal with all of it.
00:45:08
Speaker
And so I would say from my personal experience, some of the first steps
00:45:12
Speaker
really are learning some of the language
00:45:16
Speaker
right maybe someone out there listening is like what is net worth what is asset what is balance sheet what is what are all of these terms actually mean so that was one of my first steps is to start to study and start to learn the language of money learn the language of finance so that way as i started to progress and start working with someone like you and take some of these classes i could actually comprehend it and then the um just affirming that i'm smart enough to be able to handle
00:45:45
Speaker
and manage money.
00:45:46
Speaker
I'm able to manage large amounts of money.
00:45:49
Speaker
Right.
00:45:49
Speaker
And so I think that that's an important part of this process, too, of knowing that we have the education.
00:45:55
Speaker
Yeah, yeah.
00:45:56
Speaker
And it's just, it's, it's, yeah.
00:45:58
Speaker
And I use those words and, and very clearly, I mean, again, in the course, we define all of those things, but yeah, I do.
00:46:04
Speaker
I take it for granted.
00:46:04
Speaker
Right.
00:46:05
Speaker
And so there's, yeah.
00:46:05
Speaker
What is an asset?
00:46:06
Speaker
What is a liability?
00:46:07
Speaker
Well, how do I, how do I categorize it?
00:46:10
Speaker
Right.
00:46:10
Speaker
I think, you know, many, most people are, many people are focused on what they earn rather than what they own.
00:46:17
Speaker
And so there's a little bit of a distinction there, right?
00:46:19
Speaker
Because what I earn is not a reflection of what I'm worth.
00:46:24
Speaker
So there's a different, they live on different financial statements.
00:46:27
Speaker
They're a different part of the scorecard.
00:46:30
Speaker
And part of what we teach is how do you take from what you earn and put it into something that you own, right?
00:46:37
Speaker
Because if we, you know, so many people, they go from
00:46:42
Speaker
$5,000 a month to $15,000 a month.
00:46:45
Speaker
And all that happens is what we call is lifestyle creep, right?
00:46:48
Speaker
So their earning goes up, but so does their spending correspondingly.
00:46:54
Speaker
And they still have nothing left.
00:46:56
Speaker
They still have nothing on their balance sheet.
00:46:58
Speaker
They haven't bought any assets.
00:47:00
Speaker
They haven't bought anything that is appreciating in value.
00:47:03
Speaker
They buy liabilities, they buy toys, and they buy things that depreciate that they think are assets.
00:47:08
Speaker
And they buy, yeah.
00:47:11
Speaker
And when you understand the power of compounding interest, like I shared earlier, I use this example of a wave runner, right?
00:47:17
Speaker
If you took that 25 grand and you rent and you could have invested it versus bought a wave runner, that 25 grand compounds into like half a million dollars in 30 years at a particular interest rate.
00:47:26
Speaker
Whereas that wave runner's worth absolutely zero in 30 years.
00:47:29
Speaker
And so that's the distinction.
00:47:31
Speaker
That's just the power of like understanding how money works.
00:47:35
Speaker
It's just the power of education and just like really learning the framework of like, wow, there is an opportunity cost to everything I'm spending.
00:47:43
Speaker
Yes.
00:47:43
Speaker
And something that you sparked recently in some of our calls is using money in a way that you can still spend, but do it in a really wise way.
00:47:54
Speaker
I got to see your wife recently and she showed me the diamond bracelet.
00:47:57
Speaker
that you gave her for her birthday.
00:48:00
Speaker
And I was like, amazing.
00:48:01
Speaker
This is this beautiful diamond bracelet.
00:48:03
Speaker
And it was an investment, you know?
00:48:05
Speaker
And it's like, you get to give each other these gifts that are actually very well thought out investments as a couple, not just like some fun thing to find out.
00:48:14
Speaker
And honestly, it's because, I mean, again, it was her 50th birthday and I wanted to buy something beautiful, but also because that part of my balance sheet was actually a little low and less as a percentage of my overall portfolio was much less than I wanted.
00:48:27
Speaker
And so I feel like gold and jewelry and diamonds and like it's a value, you know, you're buying assets.
00:48:33
Speaker
Yeah.
00:48:34
Speaker
And you get practical use out of it.
00:48:35
Speaker
So yeah, it's a...
00:48:37
Speaker
you get a double win.
00:48:38
Speaker
You get to please the miss as well as build the balance sheet.
00:48:45
Speaker
I love that.
00:48:46
Speaker
I love these little details of ways that we think about money that there's like a, and it seems like a little difference like between buying a jet ski and buying diamonds, but there's a huge difference in the way that it affects you as an investor.
00:48:59
Speaker
I've got another question in that vein.
00:49:01
Speaker
I had a friend who was looking into investing and property and
00:49:07
Speaker
they were looking into getting a tiny house instead of a condo.
00:49:12
Speaker
But my understanding was they were not going to be owning the property it was on.
00:49:17
Speaker
So they would be owning a structure that I believe would be depreciating as it gets older.
00:49:23
Speaker
Whereas in real estate, it's the land itself that is gonna be appreciating.
00:49:27
Speaker
So that's like, it could be a very, it seems like the exact same investment.
00:49:31
Speaker
One is good, one is bad.
00:49:32
Speaker
Is that accurate?
00:49:34
Speaker
Yeah.
00:49:35
Speaker
So, so again, real estate, such a real estate, such a complicated game.
00:49:39
Speaker
And again, it all depends on, is, is he buying that as an invest, you know, like, like I living on the village and we, we invest in tiny homes.
00:49:47
Speaker
Okay.
00:49:48
Speaker
Well, why?
00:49:49
Speaker
Because I invest in them as a, as because I can, because the return, like, so if I'm buying a tiny home and I'm, I'm, I'm rent, I'm able to rent it out.
00:49:58
Speaker
Yeah.
00:49:59
Speaker
Well, then that's a different, you know, now I'm buying an income producing asset, right?
00:50:04
Speaker
So like, let's say for easy numbers, just as an example, the tiny home costs $100,000 and I get to make $1,000 a month on that tiny home as a rental.
00:50:14
Speaker
It means I make $12,000 total on the $100,000 investment.
00:50:16
Speaker
It means I've made a 12% rate of return on that investment, right?
00:50:18
Speaker
Now,
00:50:29
Speaker
I don't want to get too complicated with the numbers, right?
00:50:31
Speaker
If that thing cost me 50 grand and I'm making the same thousand dollars, it means I'm making a 24% rate of return on my investment.
00:50:38
Speaker
That's a good, that's worth buying, right?
00:50:40
Speaker
If he's buying it for himself, for his own home, that's a very different thing than if he's buying it for a rental property that he can rent out and make a return on his investment.
00:50:49
Speaker
So I don't want to get too nuanced.
00:50:51
Speaker
I don't want to get too into the numbers, but I'm
00:50:54
Speaker
Yes, owning land, ideally owning land.
00:50:58
Speaker
But again, like, you know, there's also there's a, you know, there's another big schism.
00:51:03
Speaker
I don't know if that's a word, like a big separation in the in the in the coaching world, financial, if owning your own house is even considered an asset.
00:51:13
Speaker
I don't know if you've heard of, you know, Robert Kiyosaki says you should not buy your own house.
00:51:18
Speaker
He's like buying your own house is a poor investment.
00:51:20
Speaker
Why?
00:51:21
Speaker
Because buying your own house takes money out of your pocket every month.
00:51:26
Speaker
Robert Kiyosaki defines an asset as anything that brings money into your pocket and a liability that is anything that takes money out of your pocket.
00:51:33
Speaker
That's how he defines an asset and a liability.
00:51:36
Speaker
So in that regard, a tiny home that you rent and you get money is actually an asset, but your own personal home that you pay the bank for 30 years is actually a liability.
00:51:46
Speaker
Now, yeah, will it appreciate?
00:51:47
Speaker
Maybe, depends on where you buy it and what point in the market.
00:51:51
Speaker
People are buying now at high rates with high interest rates.
00:51:55
Speaker
makes me nervous, right?
00:51:57
Speaker
Because you could buy a million dollar house today, which is nothing in SoCal.
00:52:01
Speaker
And then next thing you know, the market drops and you, like we saw in 2000.
00:52:05
Speaker
So real estate's a very tricky business and you got to pay attention.
00:52:11
Speaker
What a lot of people don't understand as well is there's ways to get into real estate that you don't have to spend $100,000.
00:52:16
Speaker
I can get you into real estate for $500.
00:52:18
Speaker
And with these real estate investment trusts, which are companies that have thousands, tens of thousands of units, and you can buy a micro fraction of them and be invested in that whole pool.
00:52:30
Speaker
Similar to like an index fund in the stock market, right?
00:52:34
Speaker
Where you buy something like the S&P 500.
00:52:38
Speaker
You can spend $1,000 on the S&P and you own a piece of 500 companies.
00:52:43
Speaker
That same model exists in real estate.
00:52:47
Speaker
So there's other ways of being in real estate without having to have huge amounts of capital and lots and lots of money.
00:52:53
Speaker
Super helpful.
00:52:54
Speaker
Thanks.
00:52:57
Speaker
This is a deep conversation.
00:52:59
Speaker
Obviously, there is many, many layers to this conversation around money, wealth, finance, so many different explorations.
00:53:07
Speaker
And we probably could just keep going and going.
00:53:09
Speaker
But I want to just honor everyone's time and really love to close it up with sparks.
00:53:16
Speaker
That's our tradition here on this podcast is what is our closing sparks?
00:53:20
Speaker
What are the things, something that really like lit us up in this conversation?
00:53:24
Speaker
So anyone want to
00:53:26
Speaker
share a closing spark?
00:53:27
Speaker
I'll jump in.
00:53:29
Speaker
My big spark from this is a combination of what you said Betsy about believing that you are smart enough, you know, and I certainly resonate with the idea of kind of just throwing my hands up and saying, I don't know, you know, and in doing so kind of resolving, I'd rather have more limited resources than figure out or spend time learning more about this.
00:53:56
Speaker
And so that a big part of this is believing it's possible and then recognizing that there are resources, like we just heard Craig talk about, his offering and the books that we're talking about.
00:54:08
Speaker
And I guess thinking of it as a continued education that we have to go through.
00:54:15
Speaker
And it's not a matter of, oh, I get finances.
00:54:18
Speaker
I don't get finances.
00:54:19
Speaker
It's I've started this journey of growth and learning and or I haven't.
00:54:23
Speaker
And as we keep hitting home,
Mindset Shift and Financial Education
00:54:25
Speaker
start it 20 years ago.
00:54:26
Speaker
And if not, start it today.
00:54:29
Speaker
Mm hmm.
00:54:31
Speaker
Yeah, that's similar to my closing spark.
00:54:34
Speaker
I feel like I'm coming out of this feeling a little bit more empowered than I was coming into it, feeling like, oh, okay.
00:54:43
Speaker
I'm hearing this is doable.
00:54:46
Speaker
This is a manageable thing.
00:54:49
Speaker
It doesn't seem...
00:54:51
Speaker
so far beyond me or so far that I don't seem so far away from being able to like start this journey or begin this journey.
00:54:58
Speaker
So, uh, so yeah, so that's, that's got me feeling pretty smart.
00:55:02
Speaker
So, yeah.
00:55:03
Speaker
So thanks for, thanks for that today, Craig.
00:55:07
Speaker
I'll share my closing spark.
00:55:08
Speaker
Um, so as somebody who's gotten to work with you directly, excuse me,
00:55:15
Speaker
I feel like the biggest piece here is the weaving, the interweaving of the belief systems and the more logistical step-by-step process to be able to live in the prosperity reality, right?
00:55:29
Speaker
You mentioned playing the game, right?
00:55:32
Speaker
Understanding it from a grounded structural perspective while also being aware of the more ethereal,
00:55:40
Speaker
kind of belief systems, epigenetics and that sort of thing.
00:55:44
Speaker
So I feel like that that has been such an inspiration to me on my own journey of evolution in the money realm, being able to find the balance of doing my deeper inner work and then receiving the support from somebody who is very well educated.
00:56:00
Speaker
So I'm just lit up from this conversation and I'm so excited to keep working with you.
00:56:05
Speaker
And I'm so excited that some of our listeners that may not have heard of you are getting to learn more about you.
00:56:12
Speaker
So you got a closing spark for us, C-Love?
00:56:16
Speaker
Yeah, just changing your relationship with money changes so many things.
00:56:24
Speaker
Okay.
00:56:24
Speaker
Like,
00:56:26
Speaker
It's worth the work.
00:56:28
Speaker
It's worth doing.
00:56:29
Speaker
Like, if not from, please, like, I'm just
Heart-Centered Wealth Management Vision
00:56:33
Speaker
one guy.
00:56:33
Speaker
Like, if not from me, there's so many people.
00:56:35
Speaker
There's so many resources.
00:56:36
Speaker
There's so many books.
00:56:38
Speaker
Get educated.
00:56:40
Speaker
Figure it out.
00:56:41
Speaker
Like, changing your money can change your history, can change your family's history, can change the, can change, like,
00:56:49
Speaker
if we are to change the planet, we need more heart-setted humans holding and stewarding more money.
00:56:57
Speaker
Like it's just imperative.
00:56:59
Speaker
And so that's my prayer and my wish and my dream is that, you know, we get more people with more beautiful, the people that are listening and tuning into this, that they find the spark to go and do the work and ultimately, you know,
00:57:17
Speaker
create more beautiful gardens with more magical flowers and lots of lots of lots of healthy soil because that's what we're here for and juicy juicy fruit juicy fruit come on abundant juicy fruit for all yes from the overflowing yes love that so much uh thank you so much so many sparks just going off i'm so grateful and i love to give people an opportunity to find more of your work in the world
00:57:46
Speaker
So maybe you can share some guidance on how they can find you and work
Accessing Craig Saloner's Resources
00:57:51
Speaker
with you.
00:57:51
Speaker
Yeah.
00:57:51
Speaker
The best way is to go to Craig Saloner.com and, and there you can actually just, if you want, you can book a call with me.
00:57:59
Speaker
My, I'm, I'm, I'm,
00:58:02
Speaker
starting my first webinar, my new live webinars is coming out on September 20th.
00:58:09
Speaker
And I'm launching a new mini course, which will be a really sweet little intro.
00:58:13
Speaker
So it's not the full Monty and you don't have to do it.
00:58:16
Speaker
It's really going to be a
00:58:17
Speaker
a three day, really just like a sweet little balance sheet, revenue expenses, some belief work, helping you set up your investments, just a little, a little.
00:58:25
Speaker
So, so that's all coming down the line, but in the meantime, you can get down, you can get hold of me at Craig Saloner, S-A-L-O-N-E-R.com.
00:58:33
Speaker
And I would love to connect and reach out and say hi.
00:58:36
Speaker
And yeah, thank you.
00:58:37
Speaker
That'd be great.
00:58:40
Speaker
Amazing.
00:58:40
Speaker
Yep.
00:58:41
Speaker
And the course also, right?
00:58:43
Speaker
I'm taking your course currently and it's multi-modules.
00:58:48
Speaker
It has been very comprehensive.
00:58:49
Speaker
There's amazing worksheets and just so much guidance in there.
00:58:53
Speaker
I've learned so much.
00:58:53
Speaker
I'm only, I think, on module four, going into module five, and I have already made some big changes in my belief system and also in my habits.
00:59:03
Speaker
Yeah.
00:59:03
Speaker
So really recommending that as well to those of you out there.
00:59:07
Speaker
And then also for people to find you guys out in the world, Halcyon, Yannous, guidance and how to spark with you.
00:59:15
Speaker
Well, you don't have to Google too long to find me, but you can find most of my stuff at johnstyn.com, J-O-H-N-S-T-Y-N.
00:59:23
Speaker
And that has got my t-shirt store, my YouTube channel, my other podcast, which is Heart on the 80s, and a free sticker offer if you want to send me a note.
00:59:34
Speaker
So yeah, find me at johnstyn.com.
00:59:39
Speaker
I'm just going to also highlight your gratitude circles as well.
00:59:43
Speaker
It's a beautiful offering to
00:59:44
Speaker
to infuse your life with more gratitude.
00:59:47
Speaker
Halcyon is guiding some wonderful gratitude circles.
00:59:51
Speaker
Thank you, Betsy.
00:59:51
Speaker
All right.
00:59:54
Speaker
And I can be found online at newworldnutritionals.com.
00:59:58
Speaker
That's spelled N-U-worldnutritionals.com.
01:00:01
Speaker
That's the name of my nutritional supplement company.
01:00:04
Speaker
And our main product is a microdose product that is designed and helps alleviate a lot of symptoms of things like ADHD, PTSD, symptoms of anxiety, depression, anxiety,
01:00:20
Speaker
dementia, Parkinson's, things like that.
01:00:22
Speaker
And also just for standard, you know, desires to focus helps with learning memory retention.
01:00:28
Speaker
And just overall, my partner refers to it as a spa day for her brain just helps her to relax and improve her outlook and perspective.
01:00:35
Speaker
So you can find us online at newworldnutritionals.com.
01:00:39
Speaker
You can use the code SPARKED for 10% off of all of our products.
01:00:43
Speaker
Amazing.
01:00:44
Speaker
How about you, Betsy?
01:00:45
Speaker
Yay.
01:00:46
Speaker
Yes.
01:00:47
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Yes.
01:00:47
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Find me connect.
01:00:48
Speaker
Let's connect.
01:00:49
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So, um, my website, power affirmation.com.
01:00:51
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You can find a lot of my offerings there.
01:00:53
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Also, finkle who.com.
01:00:55
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That's my last name.
01:00:56
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Um, recently I have come to a new, um, title, which feels really good.
01:01:02
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I'm going to try it on.
01:01:03
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I am a transformational, uh, in integration guide.
01:01:08
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Because I really value supporting people with their inner transformation, whether that is of the mind, mindset, using the affirmation tools that I have out, whether that is in the body, through body work, healing work, energy work, or just lifestyle in general.
01:01:23
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Transforming is a really big part of how I am here to serve.
01:01:27
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And then integration is a key component, the daily steps that we take.
01:01:31
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to be able to implement new ways of living.
01:01:34
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So yes, find me online.
01:01:35
Speaker
And then of course, there is a prosperity affirmation that is on Insight Timer and this theme of money.
01:01:43
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So check that out.
01:01:45
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It is in the show notes.
01:01:46
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Welcome to just use that to charge up your mindset.
01:01:52
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Well, speaking of affirmations, would you close us out with an affirmation, Betsy?
01:01:57
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I would be honored to.
01:01:59
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Yes, let's close it up with a spark of an inspirational affirmation.
01:02:04
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So if you like, you can close your eyes.
01:02:08
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If you want to, you can put your arms up in the air.
01:02:10
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This is a power pose.
01:02:12
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We talked about Tony Robbins.
01:02:13
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He talks about power poses.
01:02:14
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So arms up in the air, like we are a chalice, an open vessel.
01:02:19
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Affirmation is I am open to receive infinite amounts of abundance, prosperity, and wealth into my life.
01:02:26
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I am worthy to receive wealth and abundance, bringing our hands to our hearts.
01:02:34
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I am brilliant and smart about money.
01:02:39
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I know how to manage large amounts of money and I do it efficiently in a way that is an integrity with life.
01:02:47
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And so it is.
01:02:49
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Thank you so much, Craig, for joining us today, being our first guest on Stay Sparked.
01:02:56
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So for those of you out there that have an interest in wanting to guest, you can always send us a message where we are exploring this new platform.
01:03:04
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So thank you all so much for listening and stay sparked.
01:03:08
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Thank you.
01:03:10
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Stay smart, people.