Coaching with Ken | Fiscal Fitness: Building Momentum
May 27, 2024
Ken Joslin
Ready to ignite a financial revolution within yourself? Strap in as I, Ken Joslin, guide you through week two of our thrilling 21-day challenge that melds physical fitness with a complete fiscal transformation. Last week, we armed ourselves with budgeting know-how courtesy of Dave Ramsey, tackled debt head-on, and built the bedrock of an emergency fund. Now, I'm taking you deeper into the trenches of personal finance, revealing how a simple weekend of not spending can rejuvenate your wallet, and why meal planning could be your secret weapon in the battle against financial flab. Plus, we'll explore ways to boost your income that could lead to profound changes in the way you interact with the world around you.
But wait, there's more! Ever feel like your cash is quietly leaking away? Well, I've been there, and I'm exposing the silent cash-drains of subscription services. By cutting over $500 from my monthly outgoings, I've unlocked secrets that could help you do the same. Discover how the Stash app is revolutionizing my savings strategy, and how you can apply similar tactics to start building a future that includes real estate investments or other wealth-building ventures. Don't miss these transformative financial fitness tips that promise to set the stage for a life rich with opportunity.
You can register & join us at growstackdrive.com/challenge
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.
Ready to ignite a financial revolution within yourself? Strap in as I, Ken Joslin, guide you through week two of our thrilling 21-day challenge that melds physical fitness with a complete fiscal transformation. Last week, we armed ourselves with budgeting know-how courtesy of Dave Ramsey, tackled debt head-on, and built the bedrock of an emergency fund. Now, I'm taking you deeper into the trenches of personal finance, revealing how a simple weekend of not spending can rejuvenate your wallet, and why meal planning could be your secret weapon in the battle against financial flab. Plus, we'll explore ways to boost your income that could lead to profound changes in the way you interact with the world around you.
But wait, there's more! Ever feel like your cash is quietly leaking away? Well, I've been there, and I'm exposing the silent cash-drains of subscription services. By cutting over $500 from my monthly outgoings, I've unlocked secrets that could help you do the same. Discover how the Stash app is revolutionizing my savings strategy, and how you can apply similar tactics to start building a future that includes real estate investments or other wealth-building ventures. Don't miss these transformative financial fitness tips that promise to set the stage for a life rich with opportunity.
You can register & join us at growstackdrive.com/challenge
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.
Speaker 1:
Hey, what's up guys? Welcome to another episode of as the Leader Grows. I am your host, ken, jocelyn and dude, I'm a little fired up. Today we are in week two of our 21-day physical fitness challenge, where financial empowerment meets transformation. We've taken our GSD collective through this process now for over two weeks as we kick in to week number two of our 21-day physical fitness challenge. Listen, we're spending 21 days, every single day. We've got something that we're doing to become financially fit. We're working our tail off to be able to steward the money that God's given us so that we can have the right impact, the right influence and make a difference in the world today.
Speaker 1:
So I'm going to review really quick last week's podcast. Week number one was setting the foundation. So what we've done is, if you go to growstackdrivecom forward slash challenge growstackdrivecom forward slash challenge we've got an ebook that you can download absolutely free, not looking for a credit card or any kind of investment. I promise you the value that we're giving you is unbelievable, for just our ability to be able to connect with you to add value into your life and help make a difference. One of the main talks I give across the country and I just had lunch yesterday with my good friend Mayo, who's pastored and planted a church here in Atlanta about a year and a half ago. And Mayo just said dude, tell me, how in the world are you getting around and doing life with some of the people that you do life with? Super easy. Great leaders want something for people, not from people, and my heart is for you to take this information. Listen, if I help you and I give you this information that I know will transform, if you follow with us for 21 days, it'll transform your financial life. When you do this, you're going to want to get connected with what we're doing inside of our GSD Collective. So last week review, setting the foundation, create a budget, debt assessment, emergency fund. Set financial goals. Listen, define short-term and long-term financial goals. Zig Ziglar one of my favorite quotes from him if you aim at nothing, you'll hit it every single time. Do you know where you want to be with your financial situation in 21 days? Do you know where you want to be in six months, in 12 months, in two years, three years? Where do you want to be financially? No, spend weekend. Day five. Now I know we hit that on Mother's Day and people were like well, we mean no, spend weekend. Mothers are a necessity. We did an entire weekend inside of our GSD collective, where we've got dozens of entrepreneurs across the country who have said I want to focus on my finances Because here's the deal.
Speaker 1:
We are the number one and host the number one faith-based entrepreneur conference, mastermind and online collective of entrepreneurs around the country, and so what we've seen is, the busier you are, the less that we pay attention to the things that really matter Our faith, our health, our relationships, our business and our finances. So we, five times a year, deep dive into for 21 days, a challenge to be able to bring those things up to par and give them the focus that they deserve. Number one with our finances. So no, spend weekend. Day six meal planning. Day seven excuse me increase income. Now, we've got in each of those days there is a clickable link. So like create a budget. We've got a link that goes to Dave Ramsey's 10 minute budget creator. It literally you can have a budget in less than 15 minutes and it's amazing how many. And we've got some uber successful entrepreneurs, that people that love God like crazy in our group, that, literally, because we move so fast, we have such a calling, such a passion, such a purpose to have impact and influence in the world around us.
Speaker 1:
Sometimes we miss the things that we need to do. Like do you know where your financial situation is every single day? Do you keep a spreadsheet where you know like your credit card debt goes in there? Your money, all of your assets go in there Every single day. You're paying attention to your money. My good friend and mentor, grant Cardone, says this money is like a woman If you don't pay it attention, it will leave you. So that's week number one.
Speaker 1:
I want to dive in for the next 10 minutes or so and I want to dive into week number two. Week number two is building momentum. Holy cow. For those of you guys that are looking right here or watching this on video, I'm going to show you my little notebook. This is crazy. Week number two.
Speaker 1:
Day number one, which was yesterday, is review subscriptions. Cancel any unnecessary subscriptions or services to be able to save money. Now, one of the things that we gave you in week number one was a clickable link to Rocket Money, the app. I think it's $48 a year. It's four bucks a month. However, you want to do it. Listen, I'm going to go through. I have one, two, three, four, five, six, seven, eight, eight charges. Now I'm going to be uber transparent with you guys on this podcast today. This is 310, 340, 336, and 25 would be 361. And we'll just say 360. 35 is 395, 495, and $40 would be $535. A month that I'm at right now of subscriptions that I've cut. You're like Ken, how in the world does that happen? I'm going to tell on myself because, again, when you do as an entrepreneur, you move fast.
Speaker 1:
The one thing that I have not done well is over, because when Nate and I are putting together this 21-day challenge, I'm looking at it going holy cow, I need to do that, oh, automate savings I've got that Comparison shop. I've got that Credit score check oh, I need to do that. Like, there's so many things in this 21 days that I'm like man, I need to check up on this. One was review subscriptions. So I had an American Airlines. I'm an executive platt with Americans. I fly a lot with them, but this season that I'm in right now, I don't fly near as much as I used to. That's a $50 a month Wi-Fi charge I'm paying them every month.
Speaker 1:
Canceled my phone bill I had three phones on my plan that I wasn't using. I had gotten the numbers to port over to my CRM $260 a month I saved. The biggest one was a $97 a month. You're going to be like Ken, I can't even believe you're sharing this. I can't believe I'm sharing this either. Was a $97 a month charge to go high level. They have been charging me for almost two and a half years. You're like, you're doing the math. You're like 97 times 12, roughly that's 1236. That's $1,164 a year. 1,164 times two is what? $2,328 plus another six months. Add that on there, it's about $2,700 to $2,800 that I had paid Go High Level for the last two and a half years for a CRM that I wasn't even using, even though I had my own agency account that I was paying 297 a month for.
Speaker 1:
I thought that charge was coming from a company that was not coming from. So when I got to investigating it and I just I literally just did it on day eight Actually, I did it a couple of days before because I started reviewing my subscriptions and it started as I got a hundred dollars a month, $200 a month, $300 a month, $400 a month. I'm like holy cow, like I'm spending all of this money and it's just I'm wasting, literally wasting money. I got down. I'm $535 a month. $535 a month times 12, $6,420 a year.
Speaker 1:
That I just cut out of my, that I cut out of my budget. I don't know about you guys, but $6,400 in two years that's going to be 12, eight in three years that's 18, 19, two, 19, two, 60, $19,260. That math in my, in my brain, is impeccable. I didn't even know math until I started doing mortgages and realized I could make a lot of money doing it and being a broker. But $19,260, that's a down payment on an investment property that will create residual income and the appreciation value in the Atlanta area of about 6% to 10% a year. That's a lot of money, guys. Over the next 10 to 20 years it's a boatload of money. Not to mention the $2,800, $2,900 that I had paid Go High Level for $97 a month for two and a half years. That went nowhere. I wasn't even using it. Now I'm in talks with them on how much of that money I'm going to get back.
Speaker 1:
So day, eight review subscriptions, listen, I promise you. If you're a busy entrepreneur, which I'm sure you are, this is going to be one of the Listen if you hopped in our GSD collective for the year, which is $6,000 investment, which is two coaching calls a week. Which is an executive ticket to my Create Conference every year in January with guys like Ed Mallette, john Maxwell, erwin McManus, brendan Burchard, jesse Itzler, gary Brecka, vic Keller, randy Garn, amberly Lago, marie Cosgrove, amy Lacey, the CEO and founder of Cauliflower Pizza. There's all of these amazing. It's a $1,500 executive ticket. Gets you in our conference for three years. Like it's worth. It literally is worth the investment. Just off of this, one thing right here, it's crazy.
Speaker 1:
Day number nine automate savings. There's two links inside the ebook growstackdrivecom forward slash challenge. Growstackdrivecom forward slash challenge. I don't even care if you're. If we're, you may be listening to this podcast in three months. It doesn't matter if we're in the 21 day challenge or not. You jump into it ASAP. I've got two links inside of day nine automate savings stash app, which is what I use. I use the stash app, so it's 50 bucks a week that goes in there and I'm I'll probably be up to around four grand in there. Right now it just sits there. It's like it's $50 a week every week Click, click, click, click, click, click. And then the Rocket Money Autopilot Savings, which is in the Rocket Money app. If you spend $5.75, it will round you up to $6. Take that quarter and it will invest it wherever you want to invest it.
Speaker 1:
Day number 10, comparison shop. There's a link for pricecom. Go to pricecom if you want to buy something of significant value or any major purchase. It will find you the least inexpensive place you can buy that.
Speaker 1:
Day 12, credit score check. Check your credit score and review your credit report. So what happened is I have that and it actually it actually lets me know if my credit score goes up and down about I don't know. Three weeks ago, four weeks ago, I got hit. It said your credit score has dropped. I think it was 67 points. I was like Holy cow, I know I don't have anything late, I know where. I know where all my debt's at.
Speaker 1:
What had happened was about a year and a half ago I had to go to the emergency room and in the emergency room, since I had moved, the emergency physicians had sent me a bill for like $520. They couldn't find me. I didn't know anything about it. What had happened was they turned it over to collection. I had to call the collection. I had to actually call the collection company wouldn't even help me at all, go figure. So I called the emergency room people, the physicians group. They said, oh hey, no problem, send us the money here, pay it. We'll take the negative reporting and tell them it shouldn't have been turnover. Two collections, which I did. They took that off. It raised my credit score back that 64, 65 points, whatever. It's a huge deal. You need to know where your credit score is because, listen, you can't buy an investment property unless your credit score is in between a 680 and about a 720. 680 is the minimum and the lower your credit score, the more of a down payment they're going to make you put down. I was a mortgage broker for eight years. I promise you your credit score is super important.
Speaker 1:
Day number 13, declutter and sell. I shared this, I believe, on last week's podcast. I know I've done it in my life. One of the things that I did when I moved from Birmingham back to the Atlanta area I live in Alpharetta now is I've got I'm a shoe guy, right, so I've got a lot of Air Jordans and I've got a lot of Nikes that I wear for the gym and things like that, and some Nikes out, but I've got some dress shoes and I had several pair of dress shoes that I had some Cohans and some nice shoes that were $150 to $200 a pair. I had three boxes.
Speaker 1:
I said hey, girls, talk to my kids, my four daughters. Who wants to sell these shoes? They're $175 to $250 a piece, brand new. I've worn them maybe a half a dozen times. You can probably still get $175 to $100 a piece for them, easy. So my daughters took this use. They're going to take those and sell those online. And guess who keeps the money? They do. I told him. I said listen, I don't want any money from it. You take it, you sell it. I'm doing two things right there. Number one I'm teaching them to be entrepreneurial. What do I have that I can sell that's worth money? And then I'm like you keep the money. So two things happen teaching them how to be entrepreneur and a business leader and a business owner, because that's what they're doing. Number two they're not asking dad for money because they don't need money, because they just sold the stuff. They put the money in their bank.
Speaker 1:
That's day number 13, declutter and sell. Day number 14, reflect and adjust. Review your progress from the past week and make adjustments to your plan as necessary. What do you need to focus on? That's week number two building momentum. Listen, I cannot wait for week number three. Week number three is going to be amazing.
Speaker 1:
So growstackdrivecom forward slash challenge. Let me tell you what this 21 day challenge gets you. Number one, absolutely free Get you this ebook with clickable links like crazy in here for you to be able to become, if you'll focus and lock in for 21 days, for you to be able to become financially fit Day 15, which is going to be next Monday. Week number three is strengthening habits. Take a free online course or read a book. I give you my top three financial book recommendations. There are links in there for you to click on. Either go to Amazon or go to Audible to download the books. One of those is Think and Grow Rich, robert Kiyosaki and my good friend Sharon Lechter, friend and mentor. She sold more books on finances than any other woman in the history of the world. So 21 days and it gives you access into our GSD collective. So that is a call every Monday morning at 8 am Eastern and a call every Wednesday night at8 pm Eastern.
Speaker 1:
Every single month we do a theme for what we're talking about this month is physical fitness, and I brought on two extraordinary guests, one being Ryan D Lee from Cashflow Tactics, teaching you how to use infinite banking and whole life insurance policies to be able to borrow against, to be able to build wealth, to be able to become financially free in 10 years. It was one of the most amazing hour and 15 minutes we've ever spent inside of our GSD collective. So week number two of physical fitness is where we're at right now Building momentum, review subscriptions, automate savings. So when you listen to this on Monday, when this drops, it's going to be time for you to review your subscriptions. Look at them, guys, listen subscriptions. Look at them, guys, listen. $535 a month. Right, here is what I've saved so far $6,420 a year.
Speaker 1:
It's a free ebook, guys. Go to growstattdrivecom forward slash challenge. Download it now. I'll see you on our Wednesday night call. We've got two more Wednesday night calls in May that you get free access to. It's about a thousand dollar value that you're getting absolutely for free. Again, great leaders want something for people, not from people. I love you, guys. I'll see you next week. Listen, share this. Take this podcast, screenshot it. Share it on your Instagram. Tag me, I'd love to share it and I would love to hear your stories about how you are becoming financially fit. I love you guys and again, thanks for listening to this episode of as a Leader Grows. I'll see you next week for week three of financial fitness.
