The Paycheck Plan That Helps Women Stop Living Paycheck to Paycheck with Coach Michelle | 476

0:00Michelle:Paycheck plan is big. And I think it's because it's something you don't see in a lot of other budgeting kind of systems or spreadsheets or anything. People don't have that piece to help them. And that's where it creates a lot of anxiety is they just don't know about how to use that. Yeah, I mean, so if you're listening, maybe you already know, but the paycheck plan really tells you what to do with your hands when it comes to the money. And when you say other people don't have it, I think people are used to living paycheck to paycheck and doing things according to paychecks, right? But the paycheck plan is making everything very steady.

0:38It's not because it's payday that you can pay a bill. It's like it's payday and I got paid or I did all my transfers. Everything happened automatically. but the whole month is very steady. So we go from like being paycheck to paycheck to being a paycheck ahead. And we go from being like waiting every minute to the last paycheck or to the next paycheck to having a plan. Every paycheck happens automatically and I don't have to stress at all. Do you make good money but have nothing to show for it? Are you tired of living paycheck to paycheck? Do you have big dreams for your financial future? Do you want to get debt free but you don't want to live on beans and rice?

1:13Or you don't want to give up those pumpkin spice lattes? Hey, it's okay. if you don't already know how to budget or if you're using credit cards to get through the month. Hey, it's okay if you want to seem like you have your finances all together or you're not on the same page with your spouse when it comes to finances. We know what you're doing probably isn't working, but guess what? You're in the right place. We're Shana and Vanessa. We're best friends, business partners, and master financial coaches trained by Dave Ramsey. We've been in business since 2019, helping hundreds of amazing people like you create budgets, get out of debt, stop living paycheck to paycheck, and know exactly what to do with their money.

1:49In this podcast, we'll share with you everything we know plus everything we're working on with our clients so that you have the best chance at reaching your financial goals. We want to help you take the guesswork out of your budget, improve your marriages, and even bring your kids in on the conversation. We can help you no matter where you're at, whether you're the single mom who's never had$500 in her savings account or the millionaire who's paid off four real estate mortgages. And we're not going to shy away from the tough love. We'll tell you what you need to hear and encourage you at the same time.

2:17This is the Financial Coaching for Women podcast.

2:22Michelle, we are so excited to have you on Financial Coaching for Women. So this is like a first time episode. We are starting to kind of like look at our office hours because you hold weekly office hours. And we're going to deep dive into some of the questions, some of the topics, some of the conversations that you've had with those individuals coming in. And we're going to kind of present it kind of like a lessons from the sessions that we, that we do, but in more of a coach aspect. Yeah. And also we just want to introduce you, Michelle, because you're our friend, you're our teammate, you're the, you know, the warrior helping all of these people behind the scenes all the time, but you know, you've never been on the podcast.

3:01So it's time to chat and see, you know who's Michelle tell us a little bit about you and then we definitely want to dive into talking about those office hours thank you thank you thank you yep this first time so you'll

3:14Michelle:have to help me through it thing you you you old timers no I'm I'm the big sister of the group right so I'm the one that's got the kids through college and you know did some of these things but But, you know, my journey is probably similar to most people, right? You start out with one checking account, one savings account. Your emergency fund is a credit card. I mean, I tell folks at office hours all the time, look, yep, that's what I was told. You get a credit card because that's your emergency fund, right? So it takes you a little while. I did Dave Ramsey financial coaching just like you guys did.

3:54and he's he's been in in my ear like a a dad or an uncle for years his voice in my ear so he sounds

4:04Michelle:a little more like grandpa yeah yeah but yes yes he's getting a little crabby as he gets older but you know it's what happens he's just letting it all out well sometimes he's like really soft and i'm like yeah i know where did that come and then the other and he's like oh no and i'm coming at Well, he must have just had like a visit with the grandkids. Like she must have just brought the grandkids over. And she, so anyways, he got the love on them. And yeah. So. Yeah. And so you've been like, you had your own Dave journey and like us that like prompted you to want to help other people and you did like financial peace and all that kind of stuff.

4:37Yeah.

4:38Michelle:All that, all those fun things, you know, doing it informally and then you decide, oh, well maybe I should do this a little more formal. Yeah. And here I am. Well, I want to talk about the very first time really quick. Just so the listeners understand, like, the type of relationship that formed here. It's kind of like Shana and I's when we were working out in the gym and we said, I said, hey, I went to this church and she said, oh, I need a church. And then we became instant friends. And then like two weeks later, we were leading a community group at the church. Right. That's the level. The new church.

5:05Yes. So that's, that's what that you came in and you actually scheduled a free call. So on my calendar, I had a free call listed with a 20 minute free coaching call. and I had just got off with somebody and then I logged on with you and you know just did the spiel and you said um yep I've been listening to you this is not your normal call I want to be part of what you're doing and I was like oh this is not what I was expecting at all but you came in like learned about us you researched us you knew everything about us probably more than we knew about ourselves and you said I'm in I want to help where can I where can you put me and we just loved your heart and all of that.

5:46And then I remember getting off the speaking, you know, having a conversation with you, getting off the call, immediately texting, calling Shana going, oh my gosh, listen to this call. I can't wait for us to schedule a call together. So talk to us a little bit about like your journey into wanting to be part of kind of what we're doing here.

6:02Michelle:Well, you know, I'm sure you gals, cause I've heard you mentioned books and research and stuff all the time, right? If it's something that you love and something that you enjoy, then you want to learn more. Right. And I stumbled on your podcast, probably the same way everybody else did. Right. And, and I started listening. I'm like, wait, wait, they, they think like I do. And they, they are laying this all out in a system so that you're not driving yourself crazy with crazy Excel spreadsheets and tracking every dime and arguing with your husband over silly little purchases, right. You had it all laid out and it all made sense.

6:44Michelle:And, but you were, you're out there telling everybody about it. I'm like, so that's, I want to do that. I just want to be a part of it because I could hear the people, you know, you had your lessons from the sessions and you had people coming on the podcast, telling their story and how it changed their lives. And I'm like, I want to be a part of that because that I just really related to how you were approaching all of this, you know, in a, in a real modern kind of way, rather than restrictive and, you know, you can't do anything. Yeah. I think that that, because we all came from Dave Ramsey's world, we slowly, like, we were like, we gobble it up.

7:25We eat it up. We're like, Oh, so good. And then once one, once you've kind of figured it out for yourself, and then you also, once you start helping other people, you're like, okay, there's a different level or layer to this that we can start to think about. You don't necessarily, you know, we love Dave, but you don't have to live on beans and rice. Maybe it could be possible. And like you said, I do think one thing is like, there's a lot of modern tools that we can use to actually facilitate doing a lot of the wisdom that he teaches. You know, you taught it too, but when we taught FPU, there's no time where we actually learn how to budget.

7:58Like literally learn how to budget. We have to do that to do all the other steps. Dave, like when do we learn that? And so that's where we decided to like dive in. Yeah. We actually added an extra week to our FPU when we taught it. I think I told you that. And we had everyone bring in their budget and her and I went table to table and individual, like couples to couples and talked specifically to them about their budget because it was the missing piece. It was what was the most important. And so, yeah.

8:25Michelle:Well, and I was doing that too with my FPU classes, right? And that's actually where I ended up doing a lot of coaching was that the folks that would bring me their budget one-on-one and say, listen, can you walk me through this and help me get it set up? But I just don't know what to do. I've never done it before. Yeah. Yeah. And so what we, so, you know, we've been navigating just like you, how, how do we serve people? What do we do? and we wanted to have a space for our community to get some help you know especially if they couldn't afford it or especially if they just needed a little help right like you and that's where you came in like maybe they don't they're not struggling on every point they're just like I actually just don't know what to do with this little problem or I just want someone to talk to you know and so then we all came up with the idea that office hours could be super super helpful to our community.

9:15It would serve your, your heart, like your servant heart. It would give you something good to do. And it would be able to help people, whether they could afford coaching, whether they could afford anything, they could get help, which is what we all want in the end is for everybody to feel better about their budget, about their numbers. So, yeah. So we have two ways that you can work with us like paid. So we have our simplified budget system and then we have our one-on-one coaching, but Shane and I really wanted to help everyone. Like it was really on our hearts to figure out how can we serve everyone?

9:44So our podcast is a huge part of that, of being able to give free content out there to everyone. We also have a ton of freebies available out there in the world. But then another way to be able to have a touch point with our community is having Michelle on and she does the office hours. It's pretty much weekly unless you're on vacation or something, right? But it's every week, Wednesdays at noon central. And we'll, we have a link for that. We'll, we'll send you there, but it's just a way for you to come in. Michelle listens to all of our podcasts. She knows exactly what's going on in our business, how we do things, how we teach stuff.

10:18And she's going to walk you through any questions that you have with, Hey, I want to do coaching, but I can't afford it. Can you help me? And can you show me how she's going to help you? Hey, I'm trying to get out of debt, but I can't afford coaching. Can you show me out? She's going to walk you through that. So just, it's a really great space for you to start, to be able to just have somebody else look at your stuff. Yeah, and obviously you have, you know, your own long experience doing this, you know, before even we came together. So you have a lot of knowledge and experience and wisdom to offer people, like you said, as the big sister who's kind of been through all of these different seasons and helped a lot of people do it.

10:54So tell us a little bit, Michelle, like how have office hours been going? You know, I know you have some repeat customers. We're actually kind of doing this podcast to hopefully get more people into your world and for you to be able to help. So how's it been going?

11:08Michelle:I love it. Love it. Love it. Love it. The best people show up to office hours. They just are fantastic. Our best people show up to our thing. I'm just kidding. I'm just kidding. I'm just kidding. Seriously, everybody is so encouraging for one and so happy to have started the system, have found the podcast, have found the community, really. Whether it's they're jumping on the Facebook or wherever they are. I I mean the office hours that I just did there was three people who have found the podcast in the last two weeks and right and I know I'm to me that's awesome because they are just jumping in and that's what you got to do if you want to make meaningful change right I I really believe that and it's hard because change is hard oh I I'm I'm a poster child of change is hard but I do think that that the best people are coming because they are either stuck or they're looking for some accountability they want to share their wins I love when people come on just pop on for a few minutes to share their wins they're like hey this is what I did with that savings bucket that I created a few months ago when you were telling me I could you know you could do this this or this and I created that savings bucket and this is what it was for and I'm so happy we have it you know it's that the results that you see over time right but we're seeing people that are brand new that are starting out with the free one page that are just you know binge listening to the podcast that sort of thing and like like pick me I want to start I want to get going we have the questions about banks because we always have those until we get our magical answer of the one singular bank that everybody could use.

12:59Michelle:Right. But we, but you know, we've also got a lot of people with, Hey, I did this as they're listening to somebody else work through a question or work through a problem is like, Hey, I had that. And this is what, what I did. I solved it. So it's the community as well as, as well as the support I can provide and walking them through the system. Cause I always have the system available to try to pull up or they could share it if they want to share their, we can walk through their situation, but it's the community of the other people that are listening in saying, Hey, I had that problem too. Right.

13:38I think that's so good. I also want to make sure people understand that office hours is free for everyone. You don't have to have purchased anything. It is available to you. We have notifications in our Facebook group, but we'll also put the link here. But I just love how everyone is coming to you at different seasons and different situations. And they're all helping each other. They're all working together to be able to get to the common goal. Yeah. And it's really interesting because we've had a bunch, we do, you know, every Friday, give or take, you'll hear a live call with somebody who called into us and we try to solve their problem in the moment or help them just give them advice like, that.

14:10But it's just, like you said, money, or you didn't say, but money is heavy. Money is taboo. There's not a lot, like where else are you going to go and like lay, lay it out there and be like, I need help with my money problem. Nowhere. So the fact that you're providing a safe, encouraging, like you said, place for people to actually bring real questions, because that's the joke of it all. Like this is hard. No one taught you what to do. And there's a lot of complications and it's and we're not only did nobody tell me we're not really allowed to talk about it's kind of taboo thing but like that's the the the juxtaposition there there is it's really hard but we're not going to talk about it so what am I going to do and so then like you're providing this place that's encouraging and you have so much experience so much wisdom to help them and then sometimes like we we talked a couple calls today it's like maybe they just need someone to talk to.

15:02It might not be like a real deep problem that needs like a lot of math to solve. It might just be like, I'm sounding bored. Yeah. Sounding bored because there's no one else I have to talk to about this stuff.

15:13Michelle:Exactly. And especially if they're talking to the same people and, and they've done it the same way for however many years, which is where we have all been is it's until they have something new and something fresh and a different way to view it. right? So they're jumping in with this community of people that are like deciding we're going to, we're going to do these things a little bit differently. And we all have that common goal, right? Yeah. I love that. All right, budget besties, it's time for some real talk. You don't need another budget. You need a budget system. Our simplified budget system is what you've been looking for.

15:49It's going to allow you to be bougie on a budget. You'll be able to easily set up a system that runs automatically and shows you exactly where your money is going. and it's going to give you permission to spend. Everybody loves that. Yeah. It's straightforward, pretty, and packed with walkthrough videos that break down the exact methods we use with our clients to get out of debt, set up a bills account, separate spending, build savings buckets, and end the paycheck-to-paycheck feel. If you're new to budgeting, this is the perfect way to jump in. And if you're already a budget nerd like us, you're about to meet your new obsession.

16:22This is the upgrade to your finances that you need right now. Yeah. So head on over to budgetbesties.com forward slash budget and grab yours. Now back to today's show. Can you tell us what the most common question is that you get? Like what's the one that you know you're going to get almost every week?

16:39Michelle:Talk about the paycheck plan a lot. Paycheck plan is big. And I think it's because it's, it's something you don't see in a lot of other budgeting kind of systems or spreadsheets or anything, people don't have that piece to help them. And that's where it creates a lot of anxiety is they just don't know about how to use that. Yeah. I mean, so, you know, if you're listening, maybe you already know, but the paycheck plan, it really tells you what to do with your hands when it comes to the money. And when you say other people don't have it, I think people are used to living like paycheck to paycheck and doing things according to paycheck, right?

17:17But the paycheck plan is making everything very steady it's not bait it's not because it's payday that you can pay a bill it's like it's payday and i got i got paid or i did all my transfers everything happened automatically but the whole month is very steady so we go from like being paycheck to paycheck to being a paycheck ahead and we go from being like waiting every minute to the last paycheck or to the next paycheck to having a plan every paycheck happens automatically and i don't have to stress at all i'm not thinking about sometimes listen michelle sometimes you don't even realize it was payday.

17:48And they're like, oh, oh, like I'm at that level in my life. So are they having questions about that paycheck plan in the system or getting a paycheck ahead and using it?

17:58Michelle:Ready? Getting a paycheck ahead and utilizing that paycheck plan in the system. Right. But it's that idea of how do I get a paycheck ahead? And it can feel overwhelming until we talk through it and talk through what the meaning of that is and about having the income before those bills are going to hit so that you have that confidence that it's taken care of. Yeah, I think that's so good. And I think it's interesting when we start working with people that aren't a paycheck ahead. And literally the one thing that we do to get them a paycheck ahead, let's say, so this is September right now. So let's say we're talking about October, building October's budget.

18:39and they're not a paycheck ahead, but they're using October 3rd's paycheck as their first month. We're talking about using September 19th paycheck. Let's just say that for the upcoming month. And they're like, but yeah, but I'm already, I can't because I need all that for the bills in September. And literally all we have to do is put that paycheck in October and put a line item in October that says for September's bills. And you just have to figure out how much of that money do you need for the previous month's bills once you do that. And that month, like you're not paying off debt. You're not doing anything extra.

19:11We're taking care of that. Voila, you've now become a paycheck ahead because all you've done is take that paycheck and only designate what you need for that, that current month's bills. And then you can start from that point on from literally month one being a paycheck ahead.

19:26Michelle:yeah exactly yeah and that's that's pretty common thing is is is figuring out how to be that paycheck to paycheck where where they're worried about if they can afford something if they can go buy something because they're waiting for the paycheck to hit to to that other freeing feeling of oh it's already there yeah and and hopefully like you said that freeing feeling like that's what we want it's not only that it's already there it's also just like we just want your your money to feel steady, you know, and that's what the paycheck plan creates. It means every, depending on what I pick in that paycheck plan tab every week or every two weeks, I have new money in my spending account.

20:05I have new money in my gas and groceries. My savings buckets are getting built up every time automatically. And it's just steady. There's no more of this feast or famine. There's not this rollercoaster ride of waiting on pins and needles till payday or whatever. Like we just want that freedom, that anxiety to go away. Yeah. Yeah.

20:21Michelle:Absolutely. Absolutely. And there's lots of questions in other areas too, right? That's not the only thing we talk about. Sometimes the whole meeting will focus on savings buckets and how to get those going because that's a goal that a lot of folks have is to get those savings buckets rolling and sometimes they're not ready. And so we talk about being patient and working toward it, right? And then sometimes you have to think about the priority of which savings buckets to set up first and what's more meaningful, right, plan. And maybe you can't get that Christmas savings bucket set up quite as well as you want to this year, but next year it'll be great.