In this episode, host Laura Sexton addresses the misconception that making a high income exempts individuals from financial struggles or the need for coaching. Through the lens of three different couples with substantial incomes, the episode explores how financial issues transcend income levels and emphasizes the importance of intentional money management.
In this episode, host Laura Sexton addresses the misconception that making a high income exempts individuals from financial struggles or the need for coaching. Through the lens of three different couples with substantial incomes, the episode explores how financial issues transcend income levels and emphasizes the importance of intentional money management.
Hello and welcome to the Accelerate Your Legacy podcast. I'm Laura Sexton, your trusted financial coach and money mindset specialist. Join me as we explore the world of money and money mindset while also paving the way for a lasting legacy that extends far beyond money. Together we'll eliminate stress, amplify freedom, and ensure you stop paying for your past so you can start saving for your future. If you're seeking peace in your finances, more margin in your budget, and a legacy that inspires generations to come, you're in the right place. Hey, accelerators. You may have seen in the title. I make too much money to need a coach and been like, this has nothing to do with me. Or maybe you're like, yep. That's exactly how I feel either way, I hope that we're going to be able to have a good conversation today and feel free to let me know how you feel about this 1 way or the other. I would love to have a conversation with you about it. There are 3 couples that I wanted to have a conversation with you about today who make. Considerable amount of money, and we're going to talk about the different. Pieces of their financial future that we discovered has nothing to do with the amount of money coming in. Their problems are just like your problems. It has nothing to do with how much money they have coming in, what kind of money they have in the nest egg. That is nothing to do with what we had to talk about. You may know the common phrase, I make too much money to be this broke. I hear it all the time. I probably once a week, I hear from a potential client that they feel like. They just make way too much to be this broke and they do not understand 76 percent of Americans live paycheck to paycheck and 54 percent of Americans that make over a quarter of a million dollars over 250, 000, 54 percent of them live paycheck to paycheck. You're like, they, how could they possibly make that much money and still be living paycheck to paycheck has nothing to do with money. There's no shame here, guys. It's completely normal to live paycheck to paycheck, but normal sucks. I would much rather you be thriving. So let's talk about some of these couples. One of the couples, they make 15, 000 a month. Now that number may shock you. That's the least amount that we're going to be talking about today. They make 15, 000 per month and they had no idea where it was going. You see, they came to me looking for an additional 500 per month that they could put into their investments. 500 a month with that kind of income. No problem. I'm ready to go. I know exactly where it's coming from or what we're going to be doing. I just, I knew that we could find it. They make 15, 000 a month we went through all of their money, what they were spending, and we made them get intentional about how they were spending their money. You see, they made a whole lot. So they were just spending whatever they wanted, whenever they wanted. The problem with that is when you don't tell your money where to go, you're going to be just like this couple and wonder where it went. They asked me multiple times, where is it going? Where is it going? One of our sessions, in fact, they said, we used to have a 10, 000 buffer and now we don't. Well, they're mad at me because. They spent it and now they're paying enough attention to know that it was gone and they hadn't done that before. They hadn't been paying attention. So once they were able to pay attention, they went and found out where they spent that money and they had made actual very smart choices and reasonable, responsible ones. They just hadn't been communicating with each other about it. So once they started communicating with each other, spending the money intentionally, Well, then the whole world started to open up and what they found was not only they have 500 dollars that they could put into investments every month, but they had 5, 000 dollars that they could put into investments every month. Does that blow you away too? Because, oh, man, when I heard that, I was so excited for them. I was so excited for them and the progress that they were going to make on their financial future, because not only were they putting 5, 000 a month, but they were able to put any bonuses into a travel fund. So they were still able to go and enjoy any of the adventures that they wanted to in their life. The next couple that I was working with made 22, 000 a month, 22, 000. You're sitting here going, that's plenty of money. And yet she didn't have enough for her lifestyle and the things that she wanted, there wasn't enough. And so we had to make some decisions about who she wanted to be with her money. And yes, I am saying she specifically, because she made all the money. And, a lot of times they would fight over what kind of control he got to have, what kind of control she got to have. And you see this had nothing to do with how much money they had coming in, but identity, how did they define themselves with money? Well, they were a couple that needed these big, things. So if you need all the big, things, there's no shame in that. There's no judgment. Like, if that's what you want, I was the one that was like, yes, hire a house cleaner. Yes, please go do all those big things because you make money to enjoy your life. Why else are we making all this money? If not to enjoy a rich, abundant life, yeah. But you see, there wasn't enough room to do that and doesn't matter what your numbers are. Maybe you're making 2, 200 a month and you're like, I don't know what to do. You have to prioritize. You have to make a decision. What's most important when you know what's most important, you can spend your money on what's most important. But if you don't know, then you're going to struggle to make a choice. You see, when we put priorities and parameters onto this money, that 22, 000, it got spent very quickly at the beginning of the month, but we were able to do it wisely and with great successful returns on that money. It's not about the money, my friends. And again, there's no judgment. I don't care who you are and what you do with your money because it's your money, but I'm going to love you enough to tell you what I think. Is a great way for you to utilize that money, but it's not my job to make the decision for you. I can help you put parameters around. I can help you set up boundaries for yourself, but ultimately it's 100 percent your decision about how you choose to spend your money. So, I talked about a couple that were wondering where their money was going. I talked about a couple that needed to spend less. Let me tell you about a couple that needed to give more. I absolutely adore. This couple, because they came to me making 35, 000 a month and wanting to give away more of it. I was shocked. I was blown away 35, 000 a month. That's what some people make in a year and they are making this much in a month and they wanted to be more generous. The parameters that we had to put in place for them was what constituted a yes for them because people were coming at them all the time. They know that they have this money and they were coming at them all the time asking for money. And that never feels good. It never feels good to be the 1 that has money and people are asking, asking, asking all the time. That's just not a joyful place to be, but this couple, they wanted to give more, but they wanted to be smart with their giving. They wanted to make sure that they were making the. Biggest impact that they could make and so we worked on putting perimeters around what was a yes for them. And what was something they could say no to what we wanted to make certain. What's happening was that they were taken care of and that they were getting to enjoy the fruits of their labor. We didn't want them to be in a position where they were giving away so much that they didn't have what they needed. And that can be a very precarious place to be where when you're a giver, you give too much or you give 1st before caring for your needs. That is not what we want for you. We want to make sure that you are taken care of. So that you can take care of other people. I say this all the time. You've heard this so many times. I probably shouldn't say it again, but I'm going to say it again. Anyway, you put your oxygen mask on 1st. You just do. I want you to know. I think this is very important to share with you share on here, because I have 1 client in particular who avoided meetings with me because she was afraid that I was going to shame her. And thankfully, we have a mutual friend who told her that. I'm not here to shame you. I'm not here to judge you. That is not my position in life. I'm here to love on you. I will never tell you that you are wrong that you were dumb that you were stupid. I may say that one of your decisions was a little dumb because sometimes we all make dumb decisions. I know I do, but I'm not going to say it in a mean way. What I'm here to do is I'm here to guide you to what you want most. That's it. That's my job. I'm here to guide you to the thing that you want most. So what do you want most? You may say money. That's not true. It's not money that you're after. You may be after peace. You may be after freedom. You may be after security, independence, abundance, choices. That may be what you're after. The money is usually a means to an end. That's what I'm here to give you. I'm here to help you find the choices and the abundance and the freedom. Financial coaching is more than money. It's more than making a budget. It is a whole person approach to make sure that your money is working for you and that you feel good about your money. If you're looking for clarity, if you're looking for confidence, book a complimentary clarity call with me today. That's all you have to do. Get on my calendar. Let's have a conversation so that I can help you find that freedom, that peace, that independence. I promise you that's what you're looking for. And one of these days, maybe you are going to be the couple that I'm talking about that's making 30, 000 a month. Or maybe we're going to make the most out of your 4, 000 a month. I don't know where you are in life, but what I do know is that there is a way to make your life even better. And when it comes to finances, I am an objective third party who's going to see the numbers without any feelings, but I'm going to love you to the right choice. All right, my friends, that's it for this week. Go out and make a difference. Thank you for investing your time with us today on the Accelerate Your Legacy podcast. Remember, your legacy isn't just measured in dollars and cents, but in the tools, habits, mindset, and reputation you leave behind. Don't just listen to the show, but take action on what you've learned. Share this wisdom with a friend who can benefit and help us spread the word by rating and reviewing the podcast. For questions or encouragement, reach out to me on Instagram at Accelerate Your Legacy or explore the resources listed in the show notes. I will be back with you next week. Until then, build your legacy with intention.