The Money Question You Need to Answer Now
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[00:00:00] Welcome to Intentional Money Moves Live. I'm Leah Hadley, and this episode was recorded live and is brought to you in audio form so you can take it with you wherever you go. Each week, I tackle the money topics that matter most to women who are ready to build wealth with purpose and confidence from investing and retirement planning to navigating finances through some of life's biggest transitions.
No topic is off the table. Now. Let's get into it.
Hi there. Welcome back to Intentional Money Moves Live. I'm Leah Hadley and I am so glad that you are here with me today. If you are new welcome. We are doing this every Tuesday at noon right now. We're talking about real money, real life, real conversations, and we're here to answer your questions. So this is definitely a conversation.
If you have something you wanna share, talk about, ask about. Feel free to pop it into the chat box. And if you've been here the last couple weeks, welcome [00:01:00] back. We have been building on kind of a foundation, talking about what you can do to really start 2026 off with strength from a place of financial strength.
We talked last week about what does it look like to actually align your money with your values. Today we're gonna talk about. For what, for a lot of people is the hardest part, and that's choosing one priority when everything feels urgent. Now, I will say there is some irony of me in particular delivering this topic because I am not a person who likes to choose one thing and focus on it.
I. Always have many plates spinning. That's how I am. But with that said, I certainly have helped lots of people over the years make huge strides in their financial situation and it really does come into picking that one priority. And we're gonna talk about how to pick that priority. I'm gonna tech about how to pick what's going to move the needle the most for you.
And I honestly, I hear it all the [00:02:00] time from so many of you. Whether it is, something I'm seeing in my practice or certainly those of you who are participating in the challenge with us. By the way, if you are watching and you are participating in the challenge with us, leave a comment.
Let me know that you're watching and you're participating in the challenge with us. But. The thing that we see so often is that you know that there are things that need your attention, but there are so many things competing for your focus that you end up doing nothing or you try to do it all at once, which is what I do, and you don't make any meaningful progress, right?
So today we're gonna fix that. We're gonna get clear. By the end of this episode, I want you to really have a good, solid framework on how to choose that one financial priority, not. Five priorities, not ten one. So if you are watching, even if you're not part of the challenge, let me know that you're watching.
Let me know where you are watching from. Or if you are catching the replay, let me know that as well. I'm having a little technical issue right [00:03:00] now. Oh, there we go. Sometimes it's hard for me to see, the comments. So it you, I don't know, last week I was having issues with it as well. But anyway I think I can see the comments now, so please feel free to share.
Like I said, it's a conversation. I'm happy to answer any questions that you may have. All right. For any of you who are participating in the challenge, I am just so excited about the momentum that we are seeing in our community right now. I know that there were people at the beginning of January who.
I had no idea what was in their bank account because they were completely avoiding looking at their statements. I'm just hoping everything would work out. Right now they have clarity. They have a tracking system. Some cases I've seen some women develop some spreadsheets. I'm seeing people who thought that they were terrible with money.
Realize that they actually are really good with money. They just, quite frankly need a system. Hi Jennifer. Thanks for being here. Happy Tuesday. I hope it's much warmer where you are. I think if it was like three degrees when I was driving this [00:04:00] morning. So hopefully you're not experiencing the same crazy weather that we are.
Anyway, so this is really what I'm seeing that inspired today's topic is that people who really get very clear on their financial picture and then they're feeling really good and then all of a sudden it's like they're getting clear. And then there's this feeling of overwhelm, right?
Because they don't necessarily know where to focus their attention. So I hear all the time people are like, Leah, I need to build an emergency fund. I have to pay off my credit card debt. I wanna increase my 401k savings. I'm feeling behind in retirement savings. All of the things, right? Whether it's, you haven't done your will, you wanna update your estate plan, I know, and here is what I want you to hear.
This is what I want you to hear. You do not have to do it all right. Now I'm gonna say that again. You do not have to do it. All right. Now, pick one thing. One thing. I wanna encourage you to focus on that one thing for 90 days so you can see real progress. [00:05:00] Then move to the next thing. Okay? That's what we're gonna be talking about today.
So if you're in the challenge, this is gonna really help you to crystallize what you've been working toward. What you've been working toward through January, the rest of January, but also into February and March. And if you're not in the challenge yet, we still have a couple weeks. So join on in.
All of the prompts that we have sent out over email are available in the Facebook group. You still have access to them. You're still welcome to comment and connect with the other women in the group. So make sure that if this is something that's important to you and you haven't joined up yet, join us.
Be part of it, and I will make sure that the link is in the comment so you can join easily. All right let's get into this. So why does focusing on one thing matter so much? Why does focusing on one thing matter so much? Here's what happens when you try to do everything at once, and like I said, I know this well, right?
You decide in January that this is the year you're gonna get your financial life together, right? So you're gonna pay off the debt, you're gonna build the emergency fund, you're gonna max out [00:06:00] your 401k, save for the house, whatever that looks like for you. Start that side business you've been thinking about, right?
What happens, what actually happens? This is what we see happens, right? So you put an extra a hundred bucks towards your credit card debt. Maybe you throw $50 into a savings account, you increase your 401k contribution by one percentage point, and maybe you start to research some business ideas, but. By March, right?
When we're looking at our 90 day time period, you look at your accounts and nothing's really changed, right? The credit card balance has barely moved. Your emergency fund, maybe it's got like $400 in it by that point. Your 401k is up a little bit, but nothing that you can really feel, and that business idea it's still just an idea.
So even though you've been feeling busy, you've been feeling like you are doing something, you're not making the progress that you wanna make. And that's what happens when you split your focus, right? So when I compare that to deciding on one priority, let's just use an example, [00:07:00] right? You decide you're one priority for Q.
Q1 is gonna be paying off $3,000 of a credit card balance. That's it. That's the one thing, okay? So now every extra dollar you have is gonna go there. You pick up an extra shift, you sell some stuff you don't need. You skip the impulse purchases. You put money toward that card instead, and you're laser focused on that card by April 1st.
That card could have been paid off, right? Done. Zero balance. Now you've got some momentum. You've got proof that you can set a goal and you can hit it, and you've got an extra $200 a month. That's not going to interest us anymore. So now you can take that same intensity and apply it to the next thing, right?
That's the power of choosing one thing. I had a client a few years ago who came to me. She had $15,000 in credit card debt spread across three cards. She had no emergency funds. She was contributing to her 401k and she really wanted to save for a house. She asked me the same [00:08:00] question that I hear all the time, like, where do I focus?
Where do I start? We looked at her situation and the credit card was costing her about $250 a month in interest. That is $3,000 a year in credit card interest. I will tell you, when I was much younger, I had a really hard time with impulse shopping, and I used to do like big. Been shopping trips and I had credit card debt and it was awful.
It was so awful. And I actually remember the day that I sat down and figured out how much of my money was going to interest expense versus actually paying down the principal. And it was so disheartening, like I still remember it. So that $250 a month that she was spending an interest expense, it's just gone essentially, right?
The cost of carrying the debt. So we made a plan for the next six months, every single dollar. She was able to, every extra dollar she was able to come up with went to the credit cards. We didn't worry about funding the house or the emergency or savings or all of that. We did start to build just a [00:09:00] tiny emergency savings fund of a thousand dollars.
And then have everything else go to the credit cards. If you've heard me talk in the past about getting out of debt, one of the most important things in getting outta debt, in my opinion, is to have savings. Because at the end of the day, life happens, things are going to come up, and if you don't have savings, you're going to take on additional debt in order to deal with those things.
So even though we do have her focusing on eliminating this debt and this extra interest expense, we still wanted her to have a little bit of an emergency savings account just in case something happened. So what happened six months later, she had actually paid off the entire $15,000 and we immediately pivoted, right?
So we immediately took that extra $250 a month that was just going to interest expense and redirected it so she could actually really build up that emergency savings fund. And then, once she had built that up a little bit more, we looked at increasing the 401k. Contribution and looking at the house fund.
So within 18 months for this particular client, she was [00:10:00] able to really go from what she felt was very chaotic financially for herself to going into something that felt more stable. Not because she tried to do everything at once, but because she did one thing at a time with focus and intensity.
And that's what I want for you. So if you're sitting here thinking, but Leah, I have so many things that need attention, I know. I get it. Trying to do them all at 20% effort is not going to get you where you wanna go. It's just not, pick one, give it a hundred percent effort. Make real progress. That progress is so powerful and building that momentum to really help you move into the next thing.
And let me take a minute and just look up, see if there's any questions. So our Jennifer says, my Q1 is to finish setting up my budget for 2026 and after that to start selling stuff around the house to increase my savings for a new used car for my daughter. I love that. I love that on multiple love, Jennifer.
But I, you and I talked about [00:11:00] this before, just the power of getting rid of stuff. Like freeing up space, clearing space just creates, that that energy to be able to have the things that you want right when we are on our space is full and there's no space to think and to bring in.
It's just, it's very limiting. So I love that you're doing that to help save money for the car. That's fantastic. Alright, so hopefully at this point you are bought into the idea of choosing one priority. How do you actually choose it, right? That's the question. Especially if you feel like you have three or seven or 10 things that are urgent, right?
So here's the framework that I encourage people to use, and I call it the two question filter. Okay? The first question is, what is causing me the most trust right now? Now. Not what you think should be causing you the most stress. I wanna be clear about that. What is actually keeping you up at night?
What is the one thing that when you think about your money, this is what shows up first. Okay. Maybe it is the fact [00:12:00] that you have a very limited balance on your checking account and payday is still several days away, right? Maybe it is a credit card balance that feels out of control. It could be the fact that maybe you're 45 years old and you only have $12,000 in your 401k, right?
Maybe it's the fact that you don't have a will and if something happened to you, your kids would be in limbo. Whatever it is, really wanna encourage you to name it because that's probably going to be your priority. But here's the second question. What would create the most momentum for everything else?
Sometimes the thing that causes the most stress is not the same as a thing that would unlock the most progress. Okay? So sometimes the thing that's causing the most stress is actually not gonna be the same thing that's going to unlock the most progress, for example. Maybe you might feel really stressed about not having a will.
That is absolutely valid. But if you got $8,000 [00:13:00] in credit card debt and you're paying 24% interest on that, paying that off first may actually create more breathing room and allow for more momentum than starting your estate plan. Once that debt is gone, you're gonna have more cashflow, you're gonna have less financial stress.
You can tackle that estate plan. From a position of stability, right? Instead of really that place of fear, or maybe you are stressed out about your retirement account being too low, you have zero emergency fund and you are one car repair away from credit card debt. Building that emergency fund first.
Might be the move because it actually is going to protect everything else. So ask yourself, if I could only make progress on one thing in the next 90 days, what would have the biggest ripple effect on the rest of my financial life? I'm gonna give you some examples of common priorities [00:14:00] and kinda when we recommend choosing them.
Emergency fund, first of all, if you have less than a thousand dollars saved, if you are living paycheck to paycheck, if you're putting unexpected expenses on credit cards then this is really gonna be a very important focus for you. Okay? Is that emergency savings on. High interest debt may be the priority if you are paying more than a hundred dollars a month in credit card interest.
Remember, you gotta take a look and see how much interest are you actually paying for every month, right? If that debt is growing and it's not shrinking, and I hear that from a lot of people. So if you are stuck in that cycle of making these debt payments, but not seeing it going down, that's really gonna be important.
It's creating a mental and financial drain for you. And that's common. So paying it off would free up significant cash flow, allowing you to do every do other things, but also reduce that mental and financial drain. All right? Now, for a lot of folks who are approaching retirement [00:15:00] age, a lot of people feel behind when it comes to retirement.
I don't think you actually know whether you are. On ahead, on track or behind. And unless you really sit down and do a retirement plan, there's no magic number for retirement. It really is about creating a lifestyle that you want when you're done working right? And what does that look like, and how much is that going to cost?
So there's no one size fits all solution. There's no I just can't believe how many people to me. Over the years have just been like, am I behind? How do I compare to other people? I've been surprised by this kind of comparisonitis, if you will. And the fact of the matter is you're not gonna know where you are relative to retirement goals until you actually sit down and look at what does that goal, what does that look like?
What does that gonna cost you? And how much do you really need? But this is gonna be an important one to focus on if maybe you're over 40 and you haven't really started saving for retirement. You have very limited savings. Absolutely. If you're not taking advantage of your full [00:16:00] employer match time is going to be more valuable than anything else right now, probably in your life.
And if that's where you're at, then this is something that you wanna look at. And importantly that the rest of your financial basics are stable. I'm also always surprised by the number of people who have done a really good job of saving for retirement. But are still carrying very high interest rate debt that's costing them a lot of money.
And so you do wanna make sure that if you're focused on the retirement piece, that your other financial basics are stable. And last but not least, I wanna talk about if you should choose estate plan, if that should be your first. Now, if you have minor children with no will or guardianship plan, this is gonna be really important if you've experienced a major life change.
Whether that is divorce, marriage, maybe you've had a new baby. If you have significant assets and you don't have a plan in place, this could be something that's causing you a tremendous amount of stress. And if it is, then this is maybe where you wanna put your focus. So [00:17:00] now what if it's not obvious?
What if you've got two things that both feel equally urgent? Here's when I tell clients, use the relief verse opportunity test. The relief first opportunity test, the relief question is, which one if I handled it. Would give me the most immediate emotional and financial relief. I say that again, the relief question, which one, if I handled it, would give me the most immediate emotional and financial relief.
And the opportunity question is, which one, if I handled it, would open up the most opportunities for future progress. Now, usually one of those is gonna tip the scales and here's the thing I need you to hear. There's no perfect answer. Everybody wants a perfect answer. There is no perfect answer.
There's no wrong choice. You're gonna make a choice and then you're gonna make progress. That's what matters. I'm gonna say that again 'cause [00:18:00] I think that's really important, right? There's no perfect answer. There is no perfect answer. You're going to make a choice. You're going to make progress on that choice, and that's what matters.
Okay? So the only wrong choice, it really is trying to do everything at once and making no progress. That's the point that I'm trying to make here, even though, again, do what I say, not what I do, because I definitely am known for trying to have too many priorities, right? So right now I want you to pause and think about the answer to those two questions.
What is causing you the most stress and what would create the most momentum? And based on that, hopefully you've been able to identify a priority for the first quarter. So if you're comfortable sharing it in the chat, please share. I know I'm not seeing all the chat messages, I apologize. I will actually go back and respond after I get off.
I don't know why I'm not. Seeing all the messages come through, but that's okay. We'll get you responded to. Don't worry about that. Okay, so if you've chosen your priority and now you're [00:19:00] thinking. All right, Leo, what about all the other stuff? Am I just gonna ignore it? Of course not. Of course you're not gonna ignore it, but what we're doing is we're doing something called sequencing.
So you're going to sequence it, and this is how this works, right? You're gonna have one thing that's in growth mode, that's gonna be your priority. That's where your extra time, your extra money, your extra energy is going to go, and everything else is going to be in maintenance mode. So let's say your priority is building that emergency fund from zero to $5,000 by April 1st, that's gonna be your growth mode goal, but you're still contributing to your 401k.
You're not going to increase it right now. That's maintenance mode. You're still making your minimum credit card payments. You're not throwing extra money at them yet. That's maintenance mo mode. Oh, fantastic. Emergency fund. Good for you. All right, you're still paying the bills and managing your household, but you're not taking on any new financial projects.
That's maintenance goal maintenance mode, right? [00:20:00] So you're not abandoning your other goals, you're just being honest about what you can actually handle at any given time. And here's the magic. In 90 days when you hit that goal. You reassess, you pick your next priority. Maybe now it's time to tackle some credit card debt or increase your 401k or start saving for a house.
But you're not doing it all at once, right? You're not doing it all at once. You're doing it in sequence, one focused quarter at a time. Now I know you might be thinking, okay, Leah, what happens if something urgent comes up in the middle of my 90 days? Like you're two months into paying off your credit card and your car breaks down and you need $1,500 for repairs.
Here's what you do. You handle it. You use your emergency fund if you have one, or you pause your priority for a month to deal with the crisis. And then you get back on track, life happens. That is the reason we build flexibility into our plans, [00:21:00] right? We know the unexpected is gonna be happening.
Hi Amy. Yeah. All of these are available online. So I don't know where you're watching, if you're watching on YouTube or on LinkedIn, but if you go to the YouTube channel, which is watch her Thrive. All the recordings are available there, so you can absolutely check those out. Thanks for asking. Okay. I wanna talk about one last thing that kind of throws people off.
It doesn't have to, and that is, what if your partner or spouse has a different priority than you do? It's real. That's real, right? I see it all the time. Maybe you are super focused on paying off debt and they wanna save for a kitchen renovation or increase retirement savings. So here is my take. You have a conversation.
Have a conversation. Use the questions that we talked about, right?
For your partner, what's causing the most stress for you? What's causing the most stress? [00:22:00] You might be on the same page, you might be on different pages, but having that conversation and understanding where you just coming where each of you are coming from is really important, right? You may find that when you talk about momentum, right?
Like what could create the most momentum for the two of you? Maybe that's where you're on the same page, or maybe that's where you're on different pages. Okay? If you truly cannot agree and there's lots of people money's challenging in relationships, there's no question about it, right? If you truly can't agree, you may need to compromise.
And that compromise can look different in different ways, right? It could be, maybe it's your priority that you guys are focusing on the next 90 days and it's their priority that you're focusing on after that, right? For Q2, or maybe you split it, right? Maybe, I talked about wanting to go all in on one priority, but maybe if you two just cannot agree.
Maybe you're going all in on two priorities, right? And half is going to one and half is going to the other. Ideally, you wanna align on one priority that serves you [00:23:00] both, because again, that's how you're going to see the progress. You're gonna build the momentum faster because quite frankly, when you're rowing in the same direction, everything moves faster.
But if that's something that you're stuck on, feel free to pop that into the chat. I'm happy to walk through any questions people have if that's a challenge that they're struggling with. And like I said, I absolutely will come back and revisit the comments and respond to anything I didn't get to respond to yet.
So that's we're almost at time. I don't see any other questions in the chat right now. So I'm gonna kinda wrap things up. Here's the recap, right? Step one is gonna be to ask yourself two questions. What is causing the most stress right now and what creates the most momentum? I want you to choose one priority for the first quarter.
And put that priority in go growth mode. What does that mean? Remember, everything else goes in maintenance mode. So you're doing the minimum on everything else and really going all in on that one priority that you're focused on. That's the framework, right? To give [00:24:00] yourself that 90 days of focus.
Then, at the end of the first quarter, reassess and pick your next priority. Maybe it's the same thing and you're making more progress. Maybe you're moved on to something else. But that's it. It's a simple framework, right? Those of you who are in the 30 day Financial Reset challenge, this is what we're building toward.
Okay. So by the end of the month, you're gonna have absolute clarity on what your one priority is and a roadmap to make that happen. And if you're not in the challenge yet, like I said, we have a couple more weeks. All of the prompts are in the Facebook group. Join us. We'd love to have you. You can still make some really good progress.
Next week I will be back here at noon. And my focus for next week is really about. Taking that priority that you've identified and building your financial strategy so that way you really have a roadmap to hit that priority. So once you know what you're focusing on, we wanna talk about how do you actually make that happen, right?
We want tactical, practical, actionable steps to really help you get to, where you wanna be. I'm a [00:25:00] poet and I didn't even know. Alright. Anyway, if this is helpful, I would just invite you to hit the subscribe button, turn on notifications, and share this with somebody who might be like me, who's always trying to do everything at once and really needs some help getting clear and focused on that one priority.
Thanks for listening to Intentional Money Moves Live. If you enjoyed this episode, make sure to hit follow so you never miss one. Wanna join the conversation live? Tune in every Tuesday at noon Eastern time on YouTube. And if you're ready to take the next step in your financial journey, head over to watch her thrive.co.
To learn more about how my team and I can help you build wealth with purpose and peace of mind. I'll see you next week.