How To Avoid Financial Headaches And Get Ahead In Life In Canada

Because guess what? It's a waste of time, it's a waste of life, and it's a waste of energy. Chasing your tail all the time, trying to figure out how you're just going to pay the bills and keep the lights on. Like how much better would the world be? How much better would we all be off if we just solved the money equation? And you could take those attention units and that time and that energy and that effort and put it into something that you're actually passionate about.

How can you avoid financial headaches and get ahead in life? I'm here with Verne McCarty. I'm Liz Lamond, and we're here to talk about not only what the financial headaches can be, but also what you can do to avoid them or to not have them at all. Even better, and start to get ahead in life. Now, I think, you know, most people like, like myself and I know Vern as well, you've experienced some financial headaches and you have things that cause you a lot of stress. I was just talking to someone yesterday, in fact, who was talking about the fact that they had things around money that was often keeping them up at night. That in itself, you know, creates financial headaches. A scene that was really powerful for me was in the movie Up. So I don't. I think you've seen that too, Verne. And in that scene, there is a money jar. And inside the money jar, they're gradually building up coins. But every time something comes up in life that they don't expect, some money gets taken out of that money jar. And I think the thing that was the most powerful for me about that, that scene was it wasn't just the money that was getting taken out. It was a little piece of that dream that was going as well. And so very, very powerful scene. And something that had a big impact on me in terms of thinking about that perhaps there's a better way to do this where people don't have to be constantly eroding their dreams when they have things come up for them that are causing them financial headaches.

What really struck me about that scene was how they were together experiencing that when the money was going up and then it went down. And then you could see the sadness taken a little bit away from that dream, as you said, or taken away from future self. And I'm getting, like, goosebumps right now because it's heartbreaking, because guess what? That's real life. That's what people are doing. That's what people are experiencing, like, every day. All Day long. And things come up all the time, as you said. And so I actually have a quick story that I want to share about that. What's happening right now at my house is a bunch of our neighbors voted, I guess, to get our back alley paved, which I'm actually kind of excited about. It's nice. But what I didn't know is that our property line is just shy of, or I guess just behind what they said that they were going to pay. So some guys came around and said, hey, you know what? We have a deal for you. If you want us to pave all the way to the property line, it's going to cost you X amount of dollars. And I can tell you, Liz, I'm sure you've experienced this in my past life when I was just, you know, nothing wrong doing what I've been told to do. You know, borrowing money from other banks and, you know, putting money into financial prisons, if you will. Cash was tight. Like, where do you get that money from? When a 250, $500,000 opportunity or a problem shows up, like, what do you do? And now we're scratching our heads going, oh, I guess I could borrow money from that line of credit or a credit card, or, oh, you know what we're saving for that trip to Legoland with the kids. Maybe we can just bump that for a few months and steal away from the dream a little. And that is heartbreaking. So I'm blessed to say that that's not the case anymore. My wife and I thought about it. We actually got another opinion, heard that it was a good deal, and we said, no problem, and we're able to just access cash and solve that problem because so what?

What then? You're able to what?

Access cash, Liz? Yeah. And obviously, you know, we're talking about how do we solve these problems? Like, that's the stuff that we experience. We're all intimately connected with the problems that come up. But at the end of the day, Liz, as you know, everything that we do financially starts with the foundation of banking. Nothing happens without banking. The money has to come from somewhere. And normally I'm having to access money from someone else's bank. Even if it's my own cash, it's still coming from someone else's bank. I'm borrowing their money. And we know that when I take from my money jar and I pay for the paving and give up that other thing that I was planning to do, well, guess what? That money's now permanently transferred away. I can't get it back I can't grow it. And now I got to go work my tail off to fill up the money jar again and hope that life doesn't happen again and we can actually fulfill on whatever that plan was for the future.

It's really important to understand that putting money into that money jar, you can't anticipate all the things that you need. So they were diligently still meeting their expenses, and that was the surplus money. But even so, you can't anticipate those things. Like, you wouldn't have known probably a few months ago, Vern, that you were going to need to access money for this paving. I mean, it makes sense to do it. It would be a missed opportunity. Could you not do it? That you would be a problem you then had to solve down the track and probably cost you more. And that's a really important point I think, is that if you couldn't do it right now and you had to wait six months and once these guys and all their equipment there and everything, the relative cost of them doing it for you versus you, hiring someone in six months to come and fix that problem for you is very, very different. So not only would you miss an opportunity, but you're going to end up paying more in the long run if you can't make the most of opportunities when they arise. And that comes in terms of investing. It comes in terms of things that we need to purchase and things that come up when we don't expect them. So people who are very responsible with their budgeting, you can't anticipate all these things because they happen at unexpected times in life and they're usually not great timing. And so having a source of capital and funds that you can use to navigate these things as they come up and actually in the long run end up spending less, which is going to give you, Vern, and your family actually more income available for other things because it's not going to cost you twice as much much to get the same task done.

They actually told us we're not actually charging you for labor, they're just charging us for the material. So you're exactly right. I could have said, oh, I want to get that problem solved, save up the money, and I'm literally going to have to pay twice as much, if not more, because the labor is the most expensive part of it. Right. So you're exactly right. And I want to share a bit about. Well, to your point, well, how. What changed? How did we make that happen? And before I go into that, I just. I'd Be I see in the background, Liz, you have a great, a great resource there, a good book. Obviously, we're talking about the process of becoming your own banker. We also have links available above to webinars that can help you understand more about how the process becoming your own banker works. And there'll be a link in the description below as well where you can access a copy of. This is the greatest tool in my tool belt we talked about, you know, okay, well, here's a problem. I need to find cash from somewhere. Where is it going to come from? Budgeting. You know, we're talking about a problem here or, you know, something comes up where we need to spend some cash on something. But to your point, you had said, well, what if an opportunity comes up? You can't really always predict, oh, the real estate market crashed and everything's air quote on sale. So, hey, I got access to cash, I'm going to go take advantage of it. How many times you've had conversations where someone goes, oh man, if only I would have known, or if I had the money available. One thing that frustrates me the most, one of my sole purposes, okay, is to help people and my own family and help people solve the money equation. Because guess what? It's a waste of time, it's a waste of life, and it's a waste of energy. Chasing your tail all the time trying to figure out how you're just going to pay the bills and keep the lights on. Like, how much better would the world be? How much better would we all be off if we just solved the money equation? And you could take those attention units and that time and that energy and that effort and put it into something that you're actually passionate about, put it into something that matters to you. Like, that's what it's all about. That's why we want to solve the money equation. It's not about getting all the money. Money doesn't buy happiness. It's what the money can do, right? It's what it can present for you, what it makes available. So previously in my previous life, as you were doing everything that everybody else was doing, the problem is that money is always leaving and flowing away from me because somebody else is controlling the banking function. They're controlling the terms of how everything gets done. And so now we're in a position where we've taken control over the banking function. We store our capital in our system of policies and we're able to access capital from those policies to solve problems just like the paving situation, without actually interrupting the growth inside the money jar. Right? We have this magical money jar called the Permanent Participating Dividend Paying Whole Life Policy, where we get to enjoy uninterrupted growth on that capital while maintaining access to it to take advantage of opportunities and solve problems just like the one that we talked about.

And if you'd like to learn more and understand how you can create your own supercharged money jar that you're not losing the power of compounding while you're still meeting these unexpected expenses and things that are coming up in life, you can learn more by clicking on the playlist that's appearing. Besides.