Episode 15 – 3 Crucial Habits to Getting Out of Debt & the Cycle of Being Broke ft. Brie Sodano

• [04:02] What ‘Sheep to Shark’ means & why it is important to understand to lead a fulfilling life
• [07:15] Why people accumulate debt
• [08:10] The #1 thing to avoid doing when it comes to your debt
• [10:21] How to change your behaviors for the low-joy habits that you’re spending money on
• [12:13] The 3 essential savings habits you need
• [13:27] How stress depletes your problem-solving skills
• [16:15] What “financial constipation” is
• [18:15] Why you don’t have to be debt-free to be living your fullest life
• [20:31] “People tend to have this world view that you have to be debt-free before you can start to build, and that is not the case at all.”
• [20:58] The difference between leveraged building and leveraged consumption
• [21:11] Why Brie borrowed $10K to work with her first ever business coach & how it helped her hit $25K months
• [22:26] What to consider when thinking about investing your money
• [23:11] The difference between an investment and a gamble
• [25:57] The 1 important thing to remember when getting out of debt
• [27:45] A bad habit that kills your dreams
• [28:48] A step-by-step walkthrough of how Brie helps her clients get out of your unhealthy money habit cycle
• [31:17] “We have 3 primary resources in our life: our time, money and mental energy. If you add time and mental energy together, you get money if you direct it in an income-accumulating way.”
• [32:51] How to set up systems for spending your money to save mental energy and time
• [37:58] Couponing vs. wealth-building – leaving the starvation and money cutting phase and moving into the growth and problem-solving phase
• [41:14] Understanding upgrades vs. downgrades when finding a side hustle
• [47:55] How to create the woman that you want to be

In this episode, we talk all things MONEY with personal financial expert, Brie Sodano. We talk through the cycle of debt, of being broke, of how to start living your best life right now plus Brie talks through 3 essential savings habits you need to have and how to start doing an audit of your current financial situation and how to get OUT of your unhealthy money habits.

Gems from this episode:

• “Transitioning from Sheep to Shark is transitioning from auto-pilot to on-purpose.”
• “[At this stage of reviewing your financial affairs], if you’re still using your credit cards, it’s damn near impossible to actually get them paid off in a way where they stay gone because you’ve never changed the habit that caused the debt in the first place.”
• “Living in a state of financial stress uses up so much mental energy. It’s exhausting. It literally decreases your IQ for about 12 – 15 points.”
• “This is all about living your best life now, but also figuring out: what does your best life really mean?”