You Sent Me 14 Money Questions. Here Are My Honest Answers
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How can I prioritize multiple money goals without burning out?
Grab a cup of tea my friends, because today we are sitting down for a raw, unfiltered chat about life, money, and everything in between. We have not had a proper ask me anything in Forever. So I put the word out, I said, send me your questions. Nothing is off limits. And they came flooding in. Love when that happens. How to start investing, how to get ahead financially, when it feels impossible these days. What levers have I pulled to change my own financial situation to be night and day from where I started? Would I sell my fat cat for a million dollars? And how does financial independence work for real people? We're covering a lot and there's a whole bunch more in there too. So let's go. Let's not waste any more time.
Welcome to Making Sense. It's the podcast, people who want financial freedom. without giving up their coffee. And I am Francis Cook, a financial journalist and fellow financial freedom seeker who makes money simple for you. Now, before we get into this, just because I am answering your direct questions here, I know we always have the disclaimer on every episode saying this is not individual financial advice, it's general information, but I really feel like I want to get that up top for this sort of episode. You know, there are rules around what I can and can't talk to you about with money and really good rules, you know. I always say a red flag. For someone who you can't trust with money, is someone who tries to say, This is one situation that works for everyone and everyone should do it.
You know, so there are rules that I can't tell you exactly what to invest in or exactly which providers to use, because it might be different for your situation. I don't know your situation. So I'm going through all of your questions today. I've got them all listed out. I'm so excited to jump into them. But remember, how I'll be answering that is the general rules of the money game, what we know works for most people. And I'll try to include sort of different situations there where I can. Your situation might be different. So you know your life the best. If something hits and you're like, I don't know if that works for me. Cool. You know your life better than I do. I'll tell you the general rules of the money game, and then you figure out how to apply it to your life.
Okay, cool. That's the deal today. First question. Uh jumping straight into it, how do I prioritize all the things? Pay off mortgage, save for new car, save for rentos, save for shares, etc. Real talk don't. You you will exhaust yourself if you try to do all of that at once. Um, great list. You clearly know what you want to make happen. You clearly have been looking at your life and like, okay, cool, I want to make some things change. But it's like with any life change. You pick one thing that is the most important right now. That that is the goal that right now you think this will be the most achievable for me, or this is going to make the biggest difference for me, and you funnel almost everything into that.
This works for a couple of reasons. So, first of all, it's really good in that it lets you build in new habits one at a time. So you might say I'm doing one change per week. Or one change per month? And you really let that bed in, you let it become a habit, and then you bring in the new thing. And then you're not overwhelmed trying to keep all these plates spinning at once because it's so exciting when you want to make a new change. It is so exciting to be like, oh my God. I could be living a different life. There's these things I could do differently and it will help me lead a better life. And I love that. And I felt the same at various times. But trying to do everything all at once will exhaust you. You can still do multiple things at once, but start each one.
one at a time and let it bed in, let it become a habit, then pick your next one. I also think the the other reason this is really important is you need to give yourself the opportunity to achieve a thing. And by not spreading yourself too thin, you know, if if you only have a little bit of money to funnel into these extra efforts that you're doing.
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