Coaching with Ken | Fiscal Fitness: Setting the Foundation

Ready to revolutionize your financial well-being and stride into a future of fiscal fitness? That's exactly what we're here for! Join me, Ken Joslin, and our vibrant GSD Collective as we tackle the 21-day Financial Fitness challenge, designed to arm you with the tools and tactics necessary for cultivating robust money habits. We're not just talking about skimming the surface—by the end of this series, you'll be equipped to create a solid financial base, swiftly master budgeting with a quick and efficient tool, devise a smart plan to overcome debt, and appreciate the imperative of maintaining an emergency fund. This is your chance to fortify your financial literacy and habits for enduring prosperity.

Then, we take a moment to reflect on the enlightening epiphanies from my own life—like the startling amount of savings one can uncover simply by auditing those pesky, forgotten subscriptions. Who knew that a casual glance at my accounts with Rocket Money would unveil a forgotten Netflix subscription and lead to a stunning $600 in monthly savings? I'll guide you through a similar process, so you can uncover any hidden financial drains and redirect that cash to where it truly belongs. So, tighten your financial belt and prepare for more eye-opening insights next week! Don't let this chance pass you by; download your free ebook and start your transformation today.

Welcome to the ATLG podcast I am your host Ken Joslin, former pastor turned coach & host of CREATE, the #1 Faith-based Entrepreneur conference in America. My mission is to help faith-based entrepreneurs become the best version of themselves by growing in our Core 5: Faith, Health, Relationships, Business & Finances. You can get more information as well as join our FREE Facebook group at https://www.facebook.com/groups/676347099851525

If you enjoyed this episode, please share it on social media and tag Ken Joslin.

Transcript

Speaker 1: 0:45

Hey, what's up guys? Welcome to another episode of as the Leader Grows. I am your host, Ken Jocelyn, and I'm super excited to talk about this 21-day challenge that we've been going through inside of our GSD Collective. Okay, Ken, number one. What is the GSD Collective? It is a community of faith-based entrepreneurs that meets with us every single week on Monday morning, 8 am Eastern and Wednesday night, 8 pm Eastern. It is an unbelievable several dozen faith-based entrepreneurs getting together, really working on and becoming the best version of ourselves in our faith, health, relationships, business and finances. So about a week ago we launched what we call physical fitness. It's a series we're doing on Wednesday night and with that physical fitness, we launched a 21 day challenge. We wanted financial empowerment to meet transformation. So over the course of this 21 days that we've been going, we've actually guided our community in and through this ebook that we created so that they could build healthier money habits. So every single day of the 21 days has a component to it and inside the ebook. So if you're listening to this podcast doesn't matter when it is in our challenge you can go to growstackdrivecom forward slash challenge and you can download the ebook absolutely free. And inside of the ebook. Today I'm going to talk about week number one, and then next week we'll hop into week number two, and the next week we'll hop into the final seven days, week number three of our physical fitness 21 day challenge.

Speaker 1: 2:24

My passion and heart is to help you become financially fit, Ken. Why my passion and heart is to help you become financially fit, Ken. Why? Because I know, as an entrepreneur, as a high performer, someone who is go, go, go, go go, Sometimes what can happen is our finances get neglected because we are so busy doing what we do, we neglect to pay attention to our money the way that we need to. And you know that one of the areas of my code that I developed in between Christmas and New Year's of last year was I live by a code. I am aware of my thoughts, my language, my energy, my money and my sexual desires. All five of those things are creative parts of who we are. We use those things to create, to invent the future. They are the thing where vision is housed.

Speaker 1: 3:18

So, 21 day physical fitness challenge, man, listen, we also, first time ever, we've opened up our GSD collective for 21 days, for free. We opened it up, We've got a ton of guests in who are walking through this 21 day challenge Again, Growstackdrivecom forward slash challenge. If you missed it, We'd love for you to be able to join. It doesn't matter what day we're in, Just jump in and do the work. Inside the workbook You're going to see there's going to be e-links, so I want to jump.

Speaker 1: 3:53

So each of the seven days, we've got a goal or a task for you to accomplish in order to become over 21 days, to set some great financial habits and for you to become physically fit Not physical like I've lost 86 pounds, but physically fit. We want you to know where your money is, and one of the things that I learned from my friend and mentor, Grant Cardone four years ago was this and he says this often Money is like a woman If you don't pay attention to it, it will leave you. And so my goal is because we have a ton of entrepreneurs faith-based entrepreneurs who are going after the passion and purpose and vision that God's put in their heart. The reality of it is, sometimes we're so busy we forget the habits that we need every day to win in the area of our money and finances. So week number one we call it. Each week has its own thing. So week number one is setting the foundation, Week number two is building momentum and week three excuse me is strengthening habits. So let's talk about week number one.

Speaker 1: 4:59

So day one, which we did last Monday, is creating a budget Track your income and expenses and inside of that day one, if you go to grossatdrivecom forward slash challenge, you're going to see a place where you can register, Get the e-book absolutely for free. It doesn't cost you anything. You don't have to give us a credit card or debit, Nothing like that. Put your information in there and you will get this e-book. And I promise you, if you'll walk through this for 21 days, even if it takes you 30 days, it will revolutionize and transform your financial situation and your financial literacy. So create a budget, Track your income and expenses for a day. Inside that ebook there's a link to Dave Ramsey's 10 minute budget calculator so you literally can download the ebook. Click the link. It opens up. Literally will take you 10 minutes to create a budget. You'd be amazed I was amazed at how many people inside of our collective that have a budget but they haven't looked at it in months. They had a budget but they're not really sure what it looks like.

Speaker 1: 6:06

Day number one is create a budget. Take some time and create a budget. There's a link in there, Dave Ramsey's 10-Minute Budget Creator. Day number two is debt assessment list all your debts and create a I'm going to give you a great word plan. What is your plan to pay them off? Starting with that one with the highest interest rate? Again, we've got a link going to Dave Ramsey's site where you can download his debt snowball kind of a spreadsheet. You can put your debt in. It will tell you what to pay off first. It's a great way because here's the deal A lot of us have debt and a lot of us have debt just from building businesses, but we don't have a plan or a goal or vision to be able to pay that debt off.

Speaker 1: 6:51

Day number three. Day number three is emergency fund, and you've heard this talked about a ton. We don't have a lot of people inside of our GSD collective that need an emergency fund. Most everybody has an emergency fund which is like $1,000 and then one month, two months, three months of expenditures. So whatever your budget is for the month say, your budget for the month is five grand you should have in your emergency fund $15,000. So inside that link or inside that day on the emergency fund inside the ebook is how to build an emergency fund. You can click on that link. It will tell you exactly how to walk through this process, and one of the things you're going to see too. Now we're giving you a ton of resources to be able to use throughout these 21 days and I'm going to share with you a little bit how much it is literally transformed my financial situation already. So in that you're going to see a link for RocketMoneycom. I think it's $48 a year. I just bought the whole year up front. Now RocketMoneycom is something we use in a couple, two or three different places throughout the 21-day challenge. So build an emergency fund. That's day number three.

Speaker 1: 8:00

Number four set financial goals. I love Zig Ziglar's quote If you aim at nothing, you'll hit it every single time. Listen, guys where do you want to go? What are you trying to accomplish? If you don't know how much money you want to generate for this year, or even next month or this week, or if you've got a product launch or something like that, you need to set a goal for exactly where you want to be, Because if you don't know where you want to be, you're never going to hit it. So define short-term and long-term financial goals. That was day number four. Day number five, Now, this was fun because when we did this one, this was actually Mother's Day weekend and, trust me, some of the women let me know, is no, spend weekend.

Speaker 1: 8:47

Challenge yourself to spend no money that weekend. Necessities okay, If you've got to get groceries or put gas in the car. We're talking about eating out, buying that purse, buying that pair of shoes, going to a concert, going to dinner, anything where you're spending money that isn't a need. So the first call I got was from a friend of mine named Jamie what's up, girl? And she was like you do realize it's Mother's Day. And I said, well, we talked about spending money on necessities. Mothers are a necessity. So no, spend weekend. Challenge yourself a necessity. So no, spend weekend. Challenge yourself. Because what happens is, as I went throughout that weekend, I looked at all the spots that I normally would have spent money and I'm like, no, I'm not going to spend that, I'm not going to do that, and I made the decision not to spend.

Speaker 1: 9:36

Day Number six is meal planning. So meal planning is huge. Some of you guys may or may not have ever meal plan, but meal planning is a big deal. So inside of the meal planning is huge. Some of you guys may or may not have ever meal planned, but meal planning is a big deal. So inside of the meal planning. We've got three different links in there. That not only gives you some information on how to meal plan, but it gives you some articles on why to meal plan. How do I meal plan? How much can I save on a meal plan?

Speaker 1: 10:02

And I love this quote from Dr Teresa Shank. She's a Philadelphia dietitian and she says this meal prepping places a little bit more intention behind the purchases versus reactionary shopping. So let me ask you a question how many of you guys have ever walked into Publix or your grocery store and you've been hungry? Every single one of you guys have done that. You cannot walk into a grocery store hungry or you're in trouble. So one of the things in the meal planning there's an article to it. It says if you and there's a study they did on magnify money, if you meal prep, you can save up to about 25% of your weekly budget on food. That's huge, it's huge, it's a huge, huge win. And not only that, but what else are you going to do? You're going to eat healthier. So day number seven is increase income. I love this. Explore ways to increase income, such as freelancing or selling unused items.

Speaker 1: 11:05

So, for those that have paid attention to my life over the past three or four weeks, I actually made the transition from Birmingham, Alabama, and I moved back to not my home state. I was born in Detroit and lived in Michigan for a long time, through high school, but I moved back to really what is home for me, and that's the Northeast Georgia Atlanta area, which really is home for me. So I moved back to the Atlanta area In the move. How many of you guys know, I've only been in the house. I was in a brand new house for about a year. In the move, you always have stuff that it's like I'm never going to wear this, I'm not going to use this again. So I took three pair of shoes like brand new Cohans. I may have worn each of these shoes maybe a half a dozen times Pretty much brand new. Every pair of shoe I have in there in those three boxes are $175 to $250, maybe even $300 a pair. So you're talking about $700-ish if they were all brand new $700 worth of brand new shoes.

Speaker 1: 12:06

So here's what I do. You're talking about increasing income. I'm going to give you two things that I did. Number one shot a text to all my daughters. Who wants to take these three pair of shoes that dad has, that are in the boxes? You sell them on Facebook Marketplace. You sell them on whatever you want to sell them on eBay. You sell them, Dad. How much do I have to give you? Zero. You sell them. You keep the money, Ken.

Speaker 1: 12:31

I thought you said day seven was to increase my income. It is because guess what happens if one of my kids sells these shoes and makes about 150 bucks, Guess what they're not going to do next week or the week after that. They're not going to ask dad for money. Guess what I've just done? I have increased my income. So that is day. That is week one setting the foundation. If you have not joined us or you're just listening to this podcast going, I got to do this go to grossdrivecom forward slash, challenge the links in my bio, in, in, in Instagram. It's on literally every social media platform I have and you can download a free copy of this ebook. It's a PDF document that has clickable links and you can walk through this and I promise you, if you will do this and create new habits over the next 21 days, it will help you become more financially fit than you've ever been before. This is a quick one today. Right Week one setting the foundation, create a budget, debt assessment, emergency fund, set financial goals, no, spend weekend meal planning and increase income.

Speaker 1: 13:38

Let me give you a surprise surprise for week number two. Day number one in week two was review subscriptions. That's another thing that Rocket Money is good for. I have right seven, eight different accounts that I either canceled, that I did not need. I had an. I had an Instagram account, not Instagram, I had a Netflix account. I had no idea I had it. I've had it for over a year. 27 bucks a month no idea, Even I even had it. I have saved over $600 a month in monthly expenses that I had. No, either Number one, I had no idea, either had them or, number two, I was paying more for things. Or I was paying more than I should have been paying, or I was paying for things that I wasn't even using. So that's going to be next week on Monday. I'll see you then and I appreciate you listening to as the Leader Grows and honored. Would love for you to be able to do me a favor. Share this podcast on your social media. Tag me and I'll give.