Mind Over Money // Mikayla Ockey

Hey, Sister!

Budgeting expert and Centsei Financial co-founder Mikayla Ockey joins Courtney and Carley to discuss the emotional tie between behaviors and budgeting. Budgeting trends and pitfalls are discussed and personal experiences swapped in this episode all about putting data over drama. Tune in for this emotion-based Math class; part of the Hey, Sister! Back to School series, airing August-September 2022.

Call to Action

Answer the following 3 questions to increase awareness of personal spending behaviors

1. How did your parents or guardians use money and how did it affect you?
2. When you left home and you were on your own for the first time, how did you use money?
3. How does money affect you when you’re stressed?

Resources

Listen to the Hey, Sister! Back to School Music Class Episode

Listen to the Hey, Sister! Back to School Science Class Episode

Connect with Mikayla/Centsei Financial

https://www.centseifinance.com (free budgeting course + weekly emails with tips)

https://www.instagram.com/centseifinancial/

Connect with Hey, Sister! Podcast

https://heysisterpodcast.org

https://www.instagram.com/theheysisterpodcast/

https://www.facebook.com/heysisterpodcast

Show Timeline

0:00 Introduction to Mikayla, founding Centsei Financial, money/marriage problems

7:00 Comparison is the thief of joy, get clear on priorities, getting out of debt, preliminary emergency fund, understand emotional aspects of spending

9:45 The most important lesson: breaking the misconception that only math-lovers can budget, 80/20 rule of budgeting (80% behavior, 20% number crunching)

11:45 3 questions that will bleed into all aspects of financial planning (see call to action); goals tied to emotions

15:00 Budgeting goals (feeling peace and confidence is the goal—not just “having $1000 in the bank”), first budgeting talks in marriage, timing is everything

18:15 Data over drama; avoid blame game

23:00 When one partner spends money outside of planned budget; re-evaluating goals, timeline, his/her fund

27:15 Budgeting roadmaps are personalized for your journey; destinations and timelines are different

28:45 Inflation and avoiding budgeting

31:45 Call to action, concluding thoughts, outtakes