The Financial Formula
I am a loyal listener of the Journey to Launch Podcast with Jamila Souffrant.
The episode I am referencing came out on April 9th. I felt like I was a few days late, but she said that the good thing about podcasts is that they are long form content. Her content will always be relevant.
I wanted to provide my notes and thoughts on this episode and how I am digesting the content in this stage of my journey.
Now, I’m not going to ruin the episode by spilling all of the beans because you should definitely go listen for yourself.
I want to first start off by saying, you NEED to buy Your Journey to Financial Freedom book. Though I am but an explorer, just trying to get to the cadet status, I have an understanding of where I am and where I need to go moving forward.
This episode was about the Financial Formula.
When it comes to the intangible portion the goal is to remember that I can only control what I can control. The consistent need to want to control the external factors is what can cause issues. Taking a moment to pause before acting will not only help with financial decisions, it will help with how I move in everyday life. For me the intangible portion of the formal has to do with intentionality.My mindset and the habits I have for myself in the past were more because of what I saw and thought it should be. Now, I am going to be more intentional and remembering MY why when making decisions and creating habits.
My mindset has been very much “I can make it all fit” and that is not realistic in any way, shape or form. Now, I am shifting to “does this make sense for what I am trying to do.” When looking at my habits, that means continuing even though there is a slight inconvenience. If one part of my calendar is off, I am ruined for the day. I am learning to not stuff my schedule and don’t just add things because I am offered. My expensive habit is getting invited to something last minute and balling out. That can be a coffee break or a night out, either way I am going all in.
The tangible portion is quite simple for me. I believe my job/company/role is secure and I know I can make all the money I need to do what I need at this place. It is a sales role, so the more hours on the clock could equate to a larger sales funnel.
My constant internal battle is to start on a side hustle and work the required hours at work. What I am processing as I am writing this is that this phase is to grind. I am going to have to put my head down and work these long hours for at least 6 months to see the income I want and need to see to get out of this phase and on to the next one. Potentially even get me out of debt completely if I put my head down for a whole year.
My month expenses are relatively low. If I cut out my expensive habit I could live off the hourly portion of my sales job. I’m just a girl living in the explorer stage living the extra quac lifestyle. It has been acknowledged. Now, I can address it.
This Financial Formula episode has allowed me to just accept where I am on the journey and live in it. I have done the work to get my expenses under control. I know what I need to do to increase my income. I am consistently contributing to my 401k and RothIA and paying down my debts. I am on the right path. I just have to see it through.
I have a Notion page with a “to buy” list on it. The FIRE Calculator is on that list. (the goal is to follow the list and not buy things on a wim… this goes back to that intangible part of the formula. CLOCK IT)
I highly suggest you go listen to this episode and follow this podcast and Jamila’s profiles if you haven’t already. I have listened every week since 2021 and for some reason, today was the day I was like “yup. I get it”
