Budgeting expert and Centsei Financial co-founder Mikayla Ockey joins Courtney and Carley to discuss the emotional tie between behaviors and budgeting. Budgeting trends and pitfalls are discussed and personal experiences swapped in this episode all about putting data over drama. Tune in for this emotion-based Math class; part of the Hey, Sister! Back to School series, airing August-September 2022.
Call to Action
Answer the following 3 questions to increase awareness of personal spending behaviors
Resources
Listen to the Hey, Sister! Back to School Music Class Episode
Listen to the Hey, Sister! Back to School Science Class Episode
Connect with Mikayla/Centsei Financial
https://www.centseifinance.com (free budgeting course + weekly emails with tips)
https://www.instagram.com/centseifinancial/
Connect with Hey, Sister! Podcast
https://www.instagram.com/theheysisterpodcast/
https://www.facebook.com/heysisterpodcast
Show Timeline
0:00 Introduction to Mikayla, founding Centsei Financial, money/marriage problems
7:00 Comparison is the thief of joy, get clear on priorities, getting out of debt, preliminary emergency fund, understand emotional aspects of spending
9:45 The most important lesson: breaking the misconception that only math-lovers can budget, 80/20 rule of budgeting (80% behavior, 20% number crunching)
11:45 3 questions that will bleed into all aspects of financial planning (see call to action); goals tied to emotions
15:00 Budgeting goals (feeling peace and confidence is the goal—not just “having $1000 in the bank”), first budgeting talks in marriage, timing is everything
18:15 Data over drama; avoid blame game
23:00 When one partner spends money outside of planned budget; re-evaluating goals, timeline, his/her fund
27:15 Budgeting roadmaps are personalized for your journey; destinations and timelines are different
28:45 Inflation and avoiding budgeting
31:45 Call to action, concluding thoughts, outtakes
