Join us today for an episode about the reason the foundation comes first...
Today's episode is focused on financial foundations...
In today’s episode about developing your influence through stewarding your treasures, I talk with you about building a financial foundation and how that doesn't mean what you think it means. I also share why we often skip this step to build the future first and what goes wrong when you do. I talk with you about why the future comes easier if we spend the energy and time on the foundation first.
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00:00:00 Thanks for joining me on Episode 5 50 of the inspired Stewardship Podcast. I'm Doubt Tippett, author of seven Daily Choices. I challenge you to invest in yourself, invest in others, develop your influence and impact the world by using your time, your talent and your treasures to live out your colleague. Having the ability to make the right choices every day is key, and one way to be inspired to do that is to listen to this. The inspired stewardship podcast with my friend Scott made her. Sometimes our foundation shifts subtypes.
00:00:44 The shifts come because of external events, medical or other life changes that suddenly create a very different situation for us. Sometimes they come from internal events. Way thought. We knew what was important to us in the future, and we began to build that life. And then way discover that something that we were getting is not what we wanted. Welcome and thank you for joining us on the inspired stewardship podcasts. If you truly desire to become the person who God wants you to be, then you must learn to use your time,
00:01:18 your talent and your treasures for your true calling in the inspired storage of podcast will learn to invest in yourself, invest in others and develop your influence so that you can impact the world. In today's episode about developing your influence through Stuart in your treasures, I talk with you about building AH Financial Foundation why we often skip this step to build the future first and why the future actually comes easier if you spend the energy in the time on building the foundation first as we talk about stewarding your treasures,
00:02:00 wouldn't it be great if you could support this podcast and do it without costing yourself an extra dime? It turns out you can't.
00:02:08 All you have to do is use inspired stewardship dot com slash amazon when you're ready to make a purchase via Amazon,
00:02:17 and a small commission will come back to support the show. If you enjoy the show when you're ready to buy from Amazon,
00:02:23 just use inspired stewardship dot com slash amazon. You know, when it comes to money, one of the things that happens is,
00:02:32 ah, lot of times we start trying to get the things that we want for our future before we're ready for them.
00:02:40 And today I wanted to talk a little bit about building a financial foundation and what that looks like. You're the most common thing that people will talk about when you think about a financial foundation is having an emergency fund.
00:02:53 But the real truth is, that's only a small part of the overall picture. When I talk about a financial foundation,
00:03:00 even before we get to the practical side of how much money do I need for an emergency fund, what kind of things do I need to set up for sinking funds?
00:03:08 What am I doing for investing for the future? All of these sorts of foundational questions do I have insurance is in place and all of that before you even get there,
00:03:18 you have to begin to think about a deeper foundation. Do you have, AH, mindset and a set of habits?
00:03:27 And do you have the the behaviors and the routines and the systems, and the process is in place that allow you to really identify your values,
00:03:39 identify your priorities and then live those out in your day today. Money. Have you done the deep examination of what's important to you and what's important to your spouse or your partner so that you can get into alignment and be working together even before you get to the basics of Do you have an emergency fund or not?
00:04:03 You've gotta know what's important and know what your mind said in your beliefs and your goals and your habits are.
00:04:10 And quite frankly, sometimes that's the harder part because the truth is often times with everything that comes at us from outside.
00:04:19 We get all of these conflicting messages about what's important, and we end up getting distracted and we're just rushing from thing to thing.
00:04:29 You know. It's eat, goto, work, rinse and repeat. You just do this over and over toe.
00:04:36 Have the things that society tells you are important, which may or may not actually be the things that you think are important,
00:04:44 and we get out of alignment. We get twisted into a mess, and then we have to struggle to actually tear down what we've built so that we can then lay a foundation in place.
00:04:56 A lot of my financial coaching clients come to me and this is what's happened to him. They've done the things that they thought were important.
00:05:04 They've worked hard. It's not like there. Foolish people are stupid. People are lazy people or anything like that.
00:05:13 They've done what they're supposed to do. They've gotten a job. They've had their kids, they've gotten married.
00:05:19 They've done all of the things that good Americans are supposed to do. And along with that has come things like debt.
00:05:26 Along with that has come things like a misalignment toe, what they really think is important. And so they begin to have this this nagging sense that things are not the way they should be.
00:05:39 And then they come to me for help and we end up having toe tear down the walls and tear down the habits and tear down the mindsets and the limiting beliefs that are keeping them trapped where they are.
00:05:51 And we tear all of that down and then build up the financial foundation. The truth is, it's easier to build the foundation first before you build the building.
00:06:01 Otherwise, you know, trying to slip the foundation underneath it and all you do is make a mess.
00:06:07 But the truth is we skip this step. We do do this examination. We don't think about what's important to us.
00:06:13 We don't examine our values. We don't spend time and energy building habits and routines that work for us.
00:06:22 Instead, what we do is try to jump straight to the future. You're the number of people that come out of college and try toe,
00:06:32 have the house and everything that comes with it, along with the student loans and everything that comes with those all at the same time so that they're living the lifestyle that their parents did on Lee there 20 5 28 years old and don't have the income yet to support it.
00:06:51 And then they get twisted up in a mess. We try to build our future, often using debt and leveraging things instead of laying the foundation.
00:07:04 And don't get me wrong. This isn't one of those credit cards or evil, and debt is never any good.
00:07:11 You know, honestly, I live my life without debt, and I do think that there's a lot of ways that debt gets us twisted up and gets us in trouble.
00:07:20 But in this case, it's it's not really about the dead. It's about the fact that you're trying to build a future that you're not ready for yet and Because of that,
00:07:29 it comes along with baggage and anchors that holds you back and hold you down. Instead. The future comes easier if you do the hard work up front and spend the energy and the time to really build the foundation.
00:07:48 The other thing to realize is with our money. Sometimes our foundation shifts. Sometimes those shifts come because of external events,
00:07:58 medical or other life changes that suddenly create a very different situation for us. Sometimes they come from internal events.
00:08:09 We thought we knew what was important to us in the future, and we began to build that life.
00:08:13 And then we discover that something that we were getting is not what we wanted. So you also have to be open for the fact that it any time you may have to indeed tear down the future that you were building so that you can build a new foundation and have an even better future coming down the pike.
00:08:34 You know, I've done that a few times in my life where I've had situations where I was doing something either is a career or with my family in other ways,
00:08:43 and we discover that the things that we're doing are no longer working for us, and it's time to re examine them and reset and refocus so that we can gain control and continue to move forward with a new plan.
00:08:58 And I call that times to reset the foundation. Maybe you've discovered that you're at one of those points were either you've built a future that you're not happy with,
00:09:08 or you need some help figuring out what are the foundational steps that you need to execute so that you can build a future that secure whatever security and success means for you?
00:09:21 Maybe you even need some help figuring out what that is. That's where working with a coach can really help.
00:09:29 So what are you doing to build your financial foundation so that you can really get the financial future that you want?
00:09:38 Thanks for listening. Thanks so much for listening to the inspired stewardship Podcast. As a subscriber and listener,
00:09:50 we challenge you to not just sit back and passively listen, but act on what you've heard and find a way toe live your calling.
00:10:00 If you like this episode on the stewardship of treasures, you can sign up for our treasures tips by going to inspired stewardship dot com slash treasures or text in the U.
00:10:16 S. 44222 Treasures tips. We'll send you five weeks of our best tips on stewarding your treasures until next time investor time,
00:10:30 your talent and your treasures develop your influence and impact world.
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In today's episode, I talk with you about:
Economic independence is the foundation of the only sort of freedom worth a damn - H.L. Mencken
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