Learn about the importance of diving deep into what you want your life to realistically look like currently and what it will look like financially in the future, allowing yourself to dream big and become flexible with your life goals, the dangers of comparison and more.
In this episode you’ll also learn more about:
- The definition of life goals and the importance of prioritizing them alongside financial ones
- The Five Journeyer Stages of Financial Independence and The Five Guacamole Lifestyle Levels
- How your Guacamole Lifestyle Level will impact your journey to Financial Independence
- Identifying your life goals without the numbers, dreaming big, achieving what you want through intentional living + more
- Instagram: @Journeytolaunch
- Twitter: @JourneyToLaunch
- Facebook: @Journey To Launch
- Join the Private Facebook Group
- Join the Waitlist for My FI Course
- Get The Free Jumpstart Guide
- Get The Budget Bootcamp for FREE
Jamila Souffrant 0:02
Only you can determine what you truly want for your life and make decisions based on what you know now so that's the best we can do. What do you know now? What do you desire? Now of course, you can think towards the future about how you want to feel but you can only make decisions from what you know right now. 10 seconds.
T-minus 10 seconds. Welcome to the Journey To Launch podcast with your host, Jamila Souffrant. As a money expert who walks her talk, she helps brave Journeyers like you get out of debt, save, invest, and build real wealth. Join her on the journey to launch to financial freedom in 5, 4, 3, 2, 1.
If you want the episode show notes for this episode, go to journey to launch.com or click the description of wherever you're listening to this episode. In the show notes. You'll get the transcribed version of the conversation, the links that we mentioned and so much more. Also, whether you are an OG journeyer, or brand new to the podcast, I've created a free jumpstart guide to help you on your financial freedom journey. It includes the top episodes, so listen to stages to go through to reach financial freedom, resources and so much more. You can go to journey to launch that comm slash jumpstart to get your guide right now. Okay, let's hop into the episode.
Jamila Souffrant 1:32
Hey, hey, hey journeyers Welcome to the journey to launch podcast. It's Jamila souffrant, your chief launch officer, your fellow journeyer. journeyer means you're on this path of me to achieve the best life you can while obtaining reaching financial independence. And so welcome. I'm happy to have you here. I'm happy to have you on the journey with me. I'm going to try and stick to my podcast schedule. Which means even though I'm recording this in advance, this will be coming out the week before my book, Your journey to financial freedom a step by step guide to achieving wealth and happiness is officially out in the world. So the book comes out December 5 2023. You can order the book now do not wait.
I feel like I've been preaching or saying this. Every time I can say it that preorders. Meaning if you're listening, you know, I know some people don't listen to this. As soon as the episode comes out totally fine. You might listen to this next year, which it's still going to be relevant to you because I have some exciting things to talk about in this episode, the gwoc lifestyle levels and how to live your best life we're feeling how you can incorporate that into your life. So don't worry, we're gonna get to the actionable practical tips. But I have to take care of business first. Because if you're listening to this before the book comes out, you can still buy the book right now if you're going to buy the book anyway, don't wait. Get it over with buy it now go to your journey to financial freedom.com You'll see all the places to order it bookshop.org Target, Amazon, Walmart, you can buy it now. And that way you will get it next week without even having to think about it. And you will have what has been my life's work in terms of what I've been doing on journey to launch for the past six, seven years for the podcast. And in my life, you'll get this in this book. For you know, depending on when you buy it, it's less than $30 Most likely in the mid $20 range, or even less than that there's a deal going on at the moment. But Kota, your journey to financial freedom.com To order the book, and the book is coming out in next week, if you're listening to this in real time, and I'm just so excited for it to finally be in the world. I mean, it's really it's pretty nerve wracking to because again, everyone is now going to almost like be with me and my most intimate It feels like my most intimate moments, because while writing the book, I poured everything I could into it. And so now when it was just me and the book, me and the words, now it's it's for everyone, it's to everyone, and so I'm excited for you to read it. And for all that will unfold. I'll be recording an episode for next week that will go more into information. But for now I just want to say thank you and order the book if you have not already your journey to financial freedom.com You can order the book right now.
Now in this episode, I want to talk about your lifestyle goals and the gwoc lifestyle levels. I always try to think of ways in which to explain concepts or the journey to financial independence in a way that if it wasn't me speaking what would make me interested what would make make me want to pay attention to this. And honestly, I knew for a long time one of the rubs or frictions with people and achieving their financial goals or wanting to go on the journey of financial independence is what they want their life to look like today.
Oftentimes, our financial goals feel like they are in opposition of the life, we really just want to live without worrying about money. Like you want to have the car we want to have, you want to feel comfortable in our homes, we want to take the trips, maybe not work at or do something else for work, just enjoy our lives on a day to day basis. And when you don't feel like you have enough and sometimes you don't have enough money coming in to accomplish your financial goals, which I have an episode I recorded that will come out, you'll hear about financial goals and goal setting. It's how do you live your best life now, without sacrificing your security and this journey to financial independence that feels like it takes a lot of money to do. So I want to talk a bit about your lifestyle, and your dream you want to live the life you want to create for yourself. There are a couple of exercises in the book, your journey to financial freedom that specifically help you to uncover what your dream lifestyle looks like what it feels like. And to help you narrow that down.
But I want to talk about your life goals. Because often when we talk about goals, we especially in the finance space has financial goals. It's the practical goals, which is all fine. But I think what's left out is our life goals, the things we want to do in our lives. So I want to do the definition here. Life goals revolve around our desired experiences that you want and the person you aspire to become throughout your lifetime. These objectives may encompass both long term aspirations that require saving and investment as well as smaller aspirations that can be integrated into daily life through your discretionary spending. So that's your life goals or your life style. And in order to create a financial plan that you truly can enjoy, you have to bake in your life goals and discretionary spending in a way that feels good. And that is appropriate to the intensity, and way in which you want to reach financial independence. I think starting out with your life goals is more fun. I actually started out with this in the book first identifying your life goals. Because if we look at our goals, just from a financial perspective, then I think it makes us limit our perspective. Because depending on where you are, it's hard to imagine maybe the dreams you have for yourself if you feel or have financial constraints, because our life goals do take money. Now some of them are free. Some of them cost nothing. I mean, they usually cost something in terms of time or energy to do. But a lot of them cost money. And so if you want to live on a beach, if you want to spend your time becoming a writer, that potentially takes money, and energy definitely to do that.
Instead of going directly to how much your lifestyle cost or your financial goals. I like to have people or I want you to think about what you just want your life to look like without the numbers. Really without the numbers. What is your full life and life goals? What are they become more imaginative, without putting numbers on or financial constraints on what that looks like? Because it could feel impossible or so far off that you don't even dream like in full color. Because you feel like your finances cause you to make it look black and white. So it's not vibrant. It's not the way it's not the full dream you have for yourself because you're not letting yourself dream. So I like for you to think about what do you want your life to look like? Forget your finances right now. Forget where you currently are. Just what do you want your life to be? What does it look like in 10 years, I have an exercise that I share, called the dream life exercise. It's an exercise that I heard Debbie Millman do a few times in podcast episodes. And it's such a powerful exercise because it forces you to think forward in where you want your life to be on a specific day. Really like how do you wake up what she'd see wake up on? What's the smell? And it's funny because sometimes this is hard to actually do being so specific. Even for me becoming so specific is so hard to think about it or you know, the way my mind works, right? Like I sometimes just didn't generally I know where I want to be but to think about a specific day. It takes some emotional and mental effort. But it's one way to figure out what you want your life to look like years down the road with And also what are the things you want to accomplish? Or how do you want to feel day to day so you can look at your life. 10 years out, and you could look at your life today, like tomorrow, if you could control how you spent your time, what your day looked like, what would that schedule be? What would fill it up? Who would you be with? What clothes would you be wearing? What car would you be driving, and it doesn't have to always tie into an upgrade, like the nicest car or the nicest clothes, but really sit and think about what do I want my life to be? What does that fabric? What are the strings that make the fabric of this life that we have? Now when we start to think about it, you know, you can start to say, Okay, I have some life goals, what are they, for example, you can have a life goal that you want to travel the world for two months, you want to live near a beach, you want a flexible work situation. So you want to work, you just don't want to work where you work. Now, you want to be more flexible, or be able to do something remotely. Maybe you aspire to work out more and have more time to do that, or you want to write a book, right. So understanding what your life goals are writing them out, figuring them out, sometimes they're big, big goals that are you know, are further away, and some of them are daily things you're going to do. And then think through what you want your life to be.
Now when I first started thinking about just frameworks and concepts to help tie everything together, you know, I first came up with the journeyer stages, the five stages to go through financial independence that you need to go through, because I felt like this really encompasses what I feel are the stages to reach this ultimate goal of financial independence the five stages and you know, are the Explorer stage the cadet stage, aviator, stage, Captain stage, Commander stage and then Captain stage those are the five stages. And then and then allow a person to look at where or feel where they were on the stage in the stages or, and journey or stages and then know what to do in each stage or to understand that there's work to be done, but also freedom to be had in the stage. Then I started to think about but what about like the lifestyle? Because our lifestyle and what we want to live on a day to day and future basis, the lifestyle we live now. And the lifestyle we live in financial independence impacts the journey. So how do we almost figure out terminology? Or how do I figure out terminology that allows someone to easily decide for where they fall into a range on a lifestyle level. Because the lower you want to spend or the lower you need to spend the lower amount you need in your financial independence number that you need to become financially completely free. And the higher amount or lifestyle that you want to live the more expenses you have, the higher your number so someone who only wants to spend 20 or $30,000 a year and wants to live just a more base level frugal lifestyle needs less money in their financial independence number to be completely financially independent. The person who needs to spend more wants to spend more is going to lean a lot.
So how do you identify what that is and so I came up with a guacamole lifestyle levels because I thought it helped a compass what I was trying to, to show in this and I use guacamole just because I love guacamole. I love avocados. I know not everyone likes that I have a dear friend who hates guacamole and avocado. So whenever we go out, and she has a dish that comes with guacamole or avocado, I'm like don't have don't have them. Take it out all the way. Put it on the side and then give it to me. Okay, I want I'll take your leftover guacamole. And so it's so funny because she always had to say, all right, don't take it out, just add it to the side. So he gave it to my friend. And so if you don't like guacamole, don't let this terminology turn you off, come up with something else. Maybe you like wine, beer, I don't know, chips, put it in whatever you need. It's really just meant to show the different ranges of the lifestyle and how much you want to spend.
You see, when I started my journey to financial independence, I thought I couldn't live on less or that I would need less to be happy. Which was helpful actually in the beginning because it allowed us to save and invest more because I wasn't as concerned with spending on discretionary expenses or some of the lifestyle goals I had set for myself. But as I continued on on my journey and realize that this was pretty restrictive or not sustainable. I wanted a higher lifestyle level. I wanted to be able to go order the guacamole and the margarita when I went out I didn't want to have to check my budget and tick and tie every single number. And so I came up with a Glock lifestyle levels to signify or to show how much you need to spend or what your Glock level is if you can identify it, and then how impacts your journey.
So there are five walk levels. And I'm gonna go through each block level. So this is lifestyle levels and how much you spend. Walk level one is characterized by having no extras in your life, your focus is on financial independence, and you prioritize your baseline and mandatory expenses. So things like housing, transportation, groceries to survive, you would live a traditionally frugal lifestyle, and you would really indulge in anything beyond your basic needs. So you would never buy guacamole at a restaurant, okay, you're like, Nope, you might not even go to a restaurant, if you did it would it be very minimal, because you are really focused on frugality and not spending a lot of money walk up to
so two blocks is the occasional extra. So you may indulge in something like eating out or ordering guacamole, but only on special occasions or when there was a discount. And you know, spending on certain things will just be a big expense. So you would not do them normally or regularly. Let's walk level two.
walk level three. So if you can imagine, like, you know, I have again, there's really neat graphics in the book. This shows one quad for walk level one, two blocks from block level two, three blocks for block level three. So block level three is where you'd indulge in extras like eating out or ordering guacamole more frequently. Because you enjoy them you consider them a source of luxury in your life, you do have a budget to cover such expenses. So there are a regular part of your routine.
Walk level four is where you can have extras whenever you want, regardless of the price. So you're willing to pay a premium for high quality luxury experiences, including expensive appetizers like guacamole. Money is a significant barrier for you, because you can indulge in these extras without being concerned about them fitting into your budget. So you'd pay $19 for that fresh guacamole.
Walk level five is the ultimate level of luxury, where you own your in House Chef that makes you fresh guacamole, you have a guacamole factory, you are at a level in which you can completely indulge. Because you don't have a problem with money, you may own a private jet or that's your that's the kind of lifestyle that guaca level five is aspiring to or currently lives. You're at the top of your financial ladder, you can enjoy life's pleasures without any restrictions.
So I came up with those five levels. Because I thought it was important for people to understand the desired level, their true desired level that they want to live in financial independence, their current level, so where are they actually living now, and what even the desired level is to currently live while on their journey to financial independence.
Now, the more frugal you are, the lower your Glock level, the lower your FY number needed, the more extravagant your Glock level, like Glock level five, the higher FYI number you need. So what option appeals based on what I just said appeals to you, when you think about it, not for me, I choose option four. Three is you know pretty decent, like I don't mind three either, especially if it meant mean being able to quit my job still and have a balance. But ultimately I feel comfortable with for, you know, while five would be amazing. For me. It's just like I don't necessarily need it or want it for seems like a great balance. So I don't require every luxurious item. But I have a soft spot for guacamole and I don't want to feel restricted when I want to spend my money. But if I can reach my goals faster, and I'm unhappy about my work situation or what I'm doing on a day to day basis, I'm willing to lower what my Kwok lifestyle is, and anyone you listening has to come up with a level at which you feel comfortable. So some questions I want you to ask yourself is one what gwoc level do you desire to live? Like truly in your heart desires? Are you currently living o'clock level one lifestyle with the intention of being able to live a gwoc level three in the future? So are you comfortable with sacrificing everyday indulgences now to achieve a life where you can indulge more later?
This is something that I thought I was doing when I was starting my journey that I was okay let me live a more frugal clock Level One Two lifestyle. And I honestly I didn't even think about the lifestyle. I would want infinite. I mean I did but I didn't understand the tie in and looking back now. I think I thought I could live that gwoc One Two forever and quickly realized like no, that's not going to work. So are you currently living one gwoc lifestyle with the intention of being able to live a higher one in the future? Some people can say yes, I'm willing to sacrifice I can live frugally. And because when I reached where I want to go I'm going to actually spend more that To another thing, do you prefer living a simple lifestyle gwoc level one or two, let's say and you maintain or you plan to maintain that same level in the future when you reach fi. Not technically, when you think about it, if you're earning or you're not earning a lot, or you're able to save and invest aggressively, and have a lower FYI number, you wouldn't need to maybe keep that lifestyle up, that you are currently living because you don't have the millions or the gwoc, level four or five FYI number to sustain a higher lifestyle. So you can actually enjoy though living a Glock one or two lifestyle and say to yourself, like, Listen, I don't feel any lack. being frugal, or being at a lower level is totally fine with me. And I'm happy and actually can do this and financial independence.
Another question ask yourself, What gwoc level can you realistically live in now, while working towards FYI, that aligns with a Glock love that you want to reach? So is there a sustainable Glock level, whether it's one that you live in now, and that you're going to live in in financial independence or three, maybe you're able to live a three Glock lifestyle and also achieve that and financial independence? What is that current level that actually can stay consistent for you. Now you can actually be in a lower block level in some areas of your life. So not everyone. And I think I'm a good example of this. I think I am pretty frugal, or quote unquote, cheap in some areas of my life, but then I'm not in others. And so I can be like o'clock level one or two in. I don't know, like I don't do a lot of beauty routines. And so I can save a lot of money on hair makeup nails, because I don't it's just not something I enjoy. And so I just do it when I need to, I had a whole birthday episode that I was trying out the city girl operation and paying for all the things hair, lashes, nails, and how much time and energy that cost me. But luckily for me, I don't really care about those things, I need to do them consistently. So I can save a lot of money in this area and be cheaper in these areas. versus you know, when it comes to maybe going out to eat, or taking a vacation and doing certain things, I want to be able to spend more quality on those things. So I have a higher Glock level in that area. So you can have different ranges depending on what you value totally fine. Now, you also may be living a Glock level that is not by choice, you do not enjoy it. I think this happens for a lot of people where you are forced to live a lower gwoc level like one or two, but you want more. This is why this idea of when people say, you know, like financial independence and two people who talk about it, like live frugally, you know, you only do certain things and very, you live very, I don't know cheap or at a very simple life. It's like people who don't have a lot of money are forced to do that. And they actually it's not a choice, they don't want to they want to indulge and enjoy the finer things. And because you're choosing to not enjoy the finer things, which is fine. It's more of a choice. So it's not the same as someone who doesn't have a choice.
So what can be happening in your scenario or life right now is that you don't want to live a one or two lifestyle you aspire to live three, four, or five. And it's in conflict with your current journey or stage and goals. And because and maybe you haven't thought about it in this way, but because you have not considered why it may be harder for you to not spend in certain areas, because you have a true desire to spend. It can be more friction for someone was easier for me. So me cutting out beauty regimens and being able to save, you know, 1000s of dollars a month or a few months. There's no skin off my back like doesn't impact me because it's not something I desire. But for someone who finds value in that, it's going to be harder to tell them oh, just cut out this thing. Because their true walk desired lifestyle in that area is more. And it's not to say that I can give you solutions in this episode to like change your mind about something you care about so that you can reach your financial goals. But it's important just to be aware of why something may be harder for you to do. So just the whole cut this out, cut this back. Don't do this. Stop your vacations, maybe move to a lower cost of area living all these ideas or tips people will say to do that could be easier for one person may not be easy for you because you desire a higher Glock level in certain areas and it's hard for you to make a sacrifice or to stop that thing.
So understanding where you currently are living and is it by choice or not, and where you currently want to be. We'll just help set expectations on your journey. You may say to yourself, you know what? I am not willing to live the one or two walk lifestyle level now. I desire to live with three or four. I'm still on my financial journey and if it takes me longer to reach my fit number because I need to work longer or harder to accumulate the money I need, I'm okay with that. That's a solid decision that you can make for yourself. You can also say, You know what the length of time it's going to take me to be able to afford the lifestyle I want is too, too high of a cost. I don't want to work in corporate America for 1015 20 years just to pay for the Glock three, or four or five lifestyle that I'm used to, even though it would be nice. I don't want it to take that long. And so I'm willing to go down to a Glock two or three, and find a way to be happy about it be if that means I can quit my job, I can opt out of the workforce, I can do something different, right? And you may need to make that decision. But you need to make peace with that decision. If you make a decision to live below a Glock lifestyle level that you desire, you either have to change your desire point and be happy and truly happy with that. Or say to yourself, Okay, maybe this is just in the meantime, I'm living this.
In the book, I mentioned, the correlation between your journey or stage and your lifestyle stage. So if you're currently at a lower journey, or stage or a beginner, I should say lower journey or stage like journey or stage one or two. So you're just getting into your journey, you have debt still there, you still working on some things, but you are trying to live a gwoc four or five lifestyle, you're going to stay stuck in that journey or stage have longer or may not be able to get out of it. But if you can say to yourself, Okay, yes, I have desires to live a more full life a more expensive life. But I know right now, it is not in alignment with my journey or stage, I need to work my way through these journeyer stages. So I get two or three, four, or three or four, or even five, and then I will be able to a lot more money into my Glock lifestyle level. So a lot of times, especially, you know, I'm just gonna bring it back to social media, and seeing everyone living a life like you have no idea what their journey or level is, or if they can actually truly afford the lifestyle level. And so you think or you feel like why can I live that now to when in reality, the comparison or there is no comparison because you have no idea what their background is, or what's allowing them to live that lifestyle. And that's why I am giving you the tools to help figure out what that lifestyle looks for you. But then how you can still achieve happiness on your way to financial independence, but be realistic about the length of time it takes you.
Only you can determine what you truly want for your life and make decisions based on what you know now. So that's the best we can do. What do you know now? What do you desire? Now, of course, you can think towards the future, but how you want to feel but you can only make decisions from what you know right now. And what's best for you at this point in time with the circumstances, but with more experience, and more trial and error.
So it's okay to make errors, right? You might say, Oh, I think I want this car or I think I want this thing. And realize when you get it, even though some mistakes are more expensive than others, that it's not right, that it's not didn't it didn't solve an internal issue or problem or validate anything that you thought it would. And so now you can make a better choice the next time, right so but you don't know that until you start doing the work until you start the journey with intention.
So with more experience comes trial and error, and the tools in the book, your journey to financial freedom, I hope you can determine what this life what this journey looks like for you what you're willing to give up sacrifice or not sacrifice in order to live the ultimate freedom that you truly truly desire. Alright, so that was my breakdown of the gwoc lifestyle levels. I hope you enjoyed that. The book, your journey to financial freedom, you can get it right now. If you preorder it if you listen to this before December 5, but it's okay if you preorder it because then you already know what's coming. Buy it for a friend, so you can do it together. Go to your journey to financial freedom.com Make sure you're tagging me on social media so at journey to launch on instagram, twitter or facebook so I can see what's going on if you enjoy this episode. And oh my gosh, thank you so much for being on this journey with me.
Don't forget, you can get the episode show notes for this episode by going to journey to launch.com or click the description of wherever you're listening to this. And you can still grab your jumpstart guide for free to help you on your journey to financial freedom by going to journey to launch.com/jumpstart. If you want to support me and the podcast and love the free content and information that you get here, here are four ways that you can support me in the show. One, make sure you're subscribed to the podcast wherever you listen. Whether that's Apple podcasts, that purple app on your phone, your Android device, YouTube spot FYI, wherever it is that you happen to listen, just subscribe so you're not missing an episode. And if you're happening to listen to this and Apple podcasts, rate review and subscribe there, I appreciate and read every single review. Number two, follow me on my social media accounts. I'm at journey to launch on Facebook, Instagram and Twitter. And I love love love interacting with journeys, they're three support and check out the sponsors of this show. If you hear something that interests you, sponsors are the main ways we keep the podcast lights on here. So show them some love for supporting your girl for and last but not least, share this episode this podcast with a friend or family member or co worker so that we can spread the message of Journey to launch. Alright, that's it until next week, keep on journeying journeyers
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