Transcript
Speaker: Hello beautiful souls and welcome back to another installment of the Growing with Sol podcast where we explore the moments and stories that shape who we're becoming. I'm Marisol and this is where I love to have real conversations about growth, self discovery and learning to put yourself first.
Speaker: Whether we are diving into books that change our perspective or unpacking personal experiences that teach us something new, this podcast is for women who are done playing small and are ready to embrace their own journey.
Speaker: So if you've struggled with putting everybody else first or battled self-doubt, you are in the right place. This isn't about perfection. it's about the messy, beautiful process of growing into yourself. So come grow it with me.
Speaker: I'm going to be diving into finances this episode and it's a little bit, it's a little bit complaining. Okay. Can I, can I complain for a second? Cause I'm gonna, um, needless to say, or maybe not so needless to say, i have been essentially consuming personal finance content for like at least 10 years now.
Speaker: and
Speaker: It's been, i want to preface this by saying it has been helpful, especially when I was younger, especially back 10 years ago when I first started consuming all of this content and this information.
Speaker: i have been a longtime consumer of subscriber to the financial diet. Not only am I a subscriber to the YouTube channel, you know, newsletter. I've also have the book.
Speaker: I read the second book that came out. um So yeah, the financial diet is, i think has been one of the most beneficial things that I've done when it comes to my personal finances and like knowledge thereof.
Speaker: I've also read and listened to like other personal finance books, podcasts, YouTube channels, and things like that. So over the years, there have been a lot of other content. And even recently, I feel like with the rise of TikTok over the pandemic, there were a lot more of other like influencers and individuals around finances and personal finance that came to the scene her first 100k your rich bff others that have popped up because the algorithm starts churning out those types of people so you know i've i listen i pay attention i hear the things and you know i've reached a point where i'm like is this applicable to my situation
Speaker: But as a longtime consumer of personal finance content and information, i've noticed a pattern and have observed a growing frustration within myself. So let's get into it.
Speaker: My main complaint When it comes to personal finance advice and information that you find readily available online is that no matter what you're listening to, no matter what you're watching, it all boils down to have a budget and make more money.
Speaker: Literally every video, every podcast, practically every book is going to be some variation of know how much money is coming in versus how much is going out.
Speaker: Have an emergency fund of about like three months minimum of expenses. And by the way, if you're struggling to meet your financial goals, make more money.
Speaker: I've noticed that some content does get into like the nuances, maybe some like psychology behind why we might have certain patterns around money, maybe different stories we have around money and ourselves when it comes to money, um maybe different hangups that we might have about finances and maybe some hangups that we have about like spending that might be useful to unpack that might be beneficial to take note of like if you are you know someone who loves to spend money all the time maybe you get a paycheck and all of a sudden it's gone and what did you even spend it on like you there's there can be useful tidbits of information around maybe certain types of money habits you might have but at the end of the day
Speaker: The bottom line of any of those videos is going to be have a budget, stick to your budget, make more money, have an emergency fund.
Speaker: But the thing is, Eventually you master that. I'm not saying you're never going to make an emotional purchase ever again in your life because yo will. And if anything, most purchases are, most decisions anyway in life are going to be emotion based.
Speaker: Like, let's be real. But that doesn't mean that you can't, you know, overcome the majority of your hangups, money stories, whatever it might be. Like you definitely can.
Speaker: But and top on top of that, once ah you've mastered those things, you want to get to the next level. And I definitely have reached a point in my life where I'm starting to look at what that next step is.
Speaker: And one of the things I have noticed about the content that is now popping up on my algorithms, like not just YouTube, not just TikTok, like all of the above, when it comes to personal finance, is now investing.
Speaker: So it's like, okay, so now have a budget. I stick to my budget. I make more money. I have an emergency budget by at least three months. And invest.
Speaker: Right? Like that's what the message is now and all of those things. Budget, make more money, emergency fund, stick to your budget. And then it's like invest. And then it's just like buzzwords of like ETF, S&P 500, Roth IRA, buzzword, buzzword, other buzzword.
Speaker: And it's just like, now I'm getting all this content on like investing. And it's just like, None of you are actually answering any of my questions other than saying you should invest buzzword, buzzword, buzzword.
Speaker: And it's just like, how is that even beneficial?
Speaker: You know, so let's let's get into like my why. Why am I complaining so much? One, complaining can be cathartic, but there is so much content out there.
Speaker: And then if you are like me, chronically online, you consume so much of it thinking you're going to learn something new. When really, if you learn something new, it's usually going to be negligible to the bottom line message of what I've said multiple times.
Speaker: Make more money, invest, buzzword, budget, other buzzword, other budget, you know? The amount of stories that I've heard also on these financial podcasts and on social media of like how I invested a hundred k in like five years as a single mom.
Speaker: And then you like are like, oh, OK, well, like if she could do it, I could do it. Let me like hear what she did. And then you listen to the podcast and it's like, oh, she just ended up making a lot more money, which allowed her to have more money to invest.
Speaker: Got it. Okay, cool. the The answer was make more money. And at the end of the day, like it's solid advice. OK, making more money in this capitalist world is solid advice.
Speaker: And maybe these people and for in this example, that that woman, maybe she made more money by getting a higher paying job. Maybe making more money means having two or three jobs for them. For most of us, honestly, that's going to be the reality is having multiple jobs.
Speaker: But at the end of the day, whether it's one job that pays more or multiple jobs, you have multiple sh streams of income. The answer is making more money. And I'm at a point where I want to learn more about investing.
Speaker: But again, and maybe maybe this is just my algorithm. I'm open to hearing that. But most personal finance content is centered around what I've already repeated. And the content I've now been consuming around investing is pretty much, again, what I've said of like the buzzwords where it's like Roth IRA, employer match, ETF good, diversify.
Speaker: But I'm always so left with feeling as if I don't fully understand. Like there's still like information that I am missing that I'm not getting from this content.
Speaker: Now, the silver lining, because there is silver lining. It is not all bad and pointless. There was, like I mentioned before, a time in my life where that personal finance content from the very beginning and that initial message was important.
Speaker: And within that content, I did also find other useful tools. I found a buzz. I found budgeting resources. I found organization tips.
Speaker: I found, you know, different goals to have like the minimum three months of an emergency fund. You know, that just makes sense.
Speaker: But then also in seeing how other people manage their personal finances and what they've been able to do. i There were people that I whose content I consumed where they had like a year's worth of an emergency fund. And I'm like, girl, teach me your ways. Like, can you imagine the stress relief of having like a year's worth of an emergency fund?
Speaker: Oh, my God. You know, other things that I found out in the in the very beginning stages of my financial personal financial education were things like high yield savings accounts were things like sinking funds, so not just the emergency fund, but having savings for other purposes other than just that rainy day, that emergency that pops up.
Speaker: So there were very useful things that I learned at those beginning stages. And if you're at the very beginning stage of learning about personal finances, then silver lining, there's a plethora of information out there for you to consume and to learn from and to see if it aligns with you and what you and where you are in your personal finance journey.
Speaker: The next silver lining that I've come to appreciate is that I just had a different stage. I'm at a different stage of financial learning. You know, I've graduated from one grade to the next grade level, essentially.
Speaker: i got the basics down. this is a sign that I need to level up my knowledge. I'm ready for that. In previous episodes, I did talk about different books that I'm wanting to read that have to do with investing.
Speaker: and I believe it was the the nonfiction episode that I did about e maybe a month ago. I'll i'll link it down below. But and you might be thinking, well, if you already know what books you want to read, go by how much read them. It's been a month. Let me tell you this.
Speaker: Everybody else wants to read those books, too. And I am still waiting for my turn on Libby. OK, ok I'm waiting. And the thing when it comes to um these books and like nonfiction in general I need to, in order for me to continue reading, i need to listen to the audio book.
Speaker: But also for my own like edification and like learning, i also highly benefit from like annotation and highlighting and things like that. So my plan is listen to the audio book first.
Speaker: And then if i find it educational enough, beneficial enough, I'll buy the ebook. and then do the do a reread with the annotations and the highlighting and all of that.
Speaker: So I have a plan and it will be set in motion. i am taking steps. The steps for me are a little bit slower than I would like, but with my main complaint,
Speaker: It just means I need to level up and level up my resources as well. So complaint and silver lining, guys. But let me know where you guys are in your personal finance journey. Have you noticed this trend when it comes to personal finance content where it all just ends up boiling down to like the same message time and again? Which, again, silver lining, that makes it simple. Like, create a budget, make more money. Like, there you go, guys. That's what personal finance you know?
Speaker: There you go, guys. Personal finances. Have a budget. Make more money. Invest. ETF. Roth iy Buzzword. Buzzword, basically.
Speaker: But let me know where you guys are at in your financial journey. Are you kind of at that same place where I am wanting to learn more about investing, but kind of struggling and where to find that information? And if this resonated with you, definitely let me know. Don't forget to like and subscribe. If you are watching this on YouTube, don't forget to leave a little like heart emoji so that I know you are here.
Speaker: And of course, I am currently accepting clients as a life coach. And if you would like support on your own journey, stay with confidence, self-esteem, can go ahead and schedule your very own discovery call with me through the link in the show notes.
Speaker: Until next time, keep growing.
