Ordinary Women, Extraordinary Wealth

Ep. 19: Sue Thompson

May 26, 2021 Marcy Predmore-McPhee Season 1 Episode 19
Ordinary Women, Extraordinary Wealth
Ep. 19: Sue Thompson
Show Notes Transcript

Guest Bio: 

Sue Thompson is known as America’s Financial Management Expert. With over 30years of experience and having founded several businesses including Abundance Accounting, The Mastery of Money, The CFO Agency and The Concierge Accountancy, Sue has taught many entrepreneurs and individuals financial management for future wealth. 


She is a gifted speaker and her on point tips can take the scary proposition of finance and turn them into an exciting plan for your future. She is a guest speaker and go to accounting professional for Millionaire Maker Loral Langemeier, she’s been a guest speaker on KGEZ, and for Montana Powerhouse. She is a teacher and presenter for MWED, DBE & has taught at FVCC. She is a published author in the book "Results" and Woman's Rising.






Janay Harris  0:01  
You are listening to ordinary women extraordinary wealth with Marcy Predmore-McPhee. This is the show where we talk about how ordinary women achieve extraordinary wealth. We interview successful business leaders and entrepreneurs to learn about their journeys, discover what success means to them, and go over the various forms of wealth they've been able to achieve. And we'll learn all the best tips and tricks, you can start applying in your own life and career. While extraordinary wealth comes in a variety of forms, we don't neglect the financial side. And it's so important for women to feel comfortable talking about money. So in this show, you'll also learn how to put your money to work and keep your money in motion. And use your money to enjoy life today, without stealing from tomorrow. Be sure to like and subscribe wherever you listen to podcasts. And if you find this show valuable, make sure to share it with your friends and colleagues. And now, your host, Marcy Predmore-McPhee, McPhee.

Marcy Predmore  0:59  
I just want to welcome everybody to ordinary women, extraordinary wealth. It's always such a pleasure and a joy just to come on here and just say hello, because I really want to really shine the light on women's extraordinary. You've heard me say many times, I felt like I was just this ordinary, meek, mild woman. But really, I looked back and realize that my journey was pretty extraordinary. So it was just a mission of mine a passion of mine to go out and find people that are really near and dear to my heart. First of all people that I know, and even some I don't know, but I really wanted to put a spotlight on their extraordinary because we don't do that very often, we all get in the rat race of life, we really just focus on getting it done, instead of really just sitting back and saying, Wow, my journeys been pretty extraordinary. So I get the privilege today of introducing a dear friend of mine, who we work together, we've been clients of each other. And her name is Sue Thompson. She is up in Montana, which is I'm in Colorado, but it's near and dear to my heart. It's God's country also. And we're going to hear a little bit from Sue, she is the owner of the CFO agency. And oh, gosh, I just forgot the other one. And the concierge concierge accountancy. Boy, that was a mouthful for me. So Sue, I would just like to have you just share with the audience just a little bit, I know that you're, you're passionate about leadership, teaching, training, around wealth around just really being in control. So tell us just a little bit.

Sue Thompson  2:56  
Well, thank you, thank you for having me here today, it's always exciting to get to visit with you and I have the opportunity. Little bit about me. So the CFO agency is born out of years of working with people and with money and, and one of the things that I learned over time is that it's not about the money, per se, it's about what the money provides in life. And, and having a safe sound place to talk about money. It's one of those things that we don't like to talk about very often, and we don't have a lot of places where we can go to talk about it is one of the gifts that we get to bring to our clients is to have that space to, to kind of grapple with it grapple with the systems and structures have a grapple with how we spend it, grapple with the dreams and the goals of it. But also grapple with our emotions around it because it's a, it can be a hotbed of emotions, depending on what's going on in life, whether it's good, or whether it's a challenge. So it's Yeah, and I've always had the belief that money is one of our greatest teachers, it's a it's a tool that because of the emotions that are around it sometimes gets used in ways that is not healthy and happy and good. And so it's always a pleasure to get to move money into its rightful place, if you will, and people's lives and and what it does for them.

Marcy Predmore  4:28  
Oh, wow, I just I love that. And it is a tool. It really is. I think we all get so wrapped up emotionally around money. Whether it be embarrassment, pride, you know, our spiritual beliefs that you really can't have a lot of money. Or again, if you're in debt or you don't take care of your money. As you know, we've had several clients who they were afraid for several years on end to even look at their bank account their checkbook, they just made money. Maybe Money made money, but didn't, didn't know where it was, how it was how it was growing. And so we really love being able to help people with an everyday tool that we all use. And we all have to use. So I just really appreciate that, for sure. Now, Sue, I know that, again, you've been involved with women's groups, you're an entrepreneur, you love to speak, teach and train. What really what really got you into the passion of teaching women or really any of us wealth, and really just how to found their money, what, what really propelled you in that direction.

Sue Thompson  5:46  
I think it was twofold. The first segment of it was having the desire to earn a lot of money to be able to provide a lifestyle for myself and my daughter, my daughter's passion is horses, one of the most expensive things on the planet, right? Yeah. And to be able to do that was the beginning of it. But then what happened was, I found that there's a stewardship element to it. In other words, if money is a good teacher, for us, it's teaching us how to bring our passion or our calling, if you will, to the world. And I found for me, that's what happened in this money space. It was first as doing the bookkeeping, you know, providing that that done for you service. And through that, and my own personal development and the crash of 2008. That was a monster teacher. For me. It was a matter of learning how to have this tool called money work for me, instead of me working for it. And I think that I've seen that over and over in the 30 some years that I've been doing this to with the different life scenarios that come at everybody, and something comes at everybody, it's all different. But it's always something that has you need to grapple with this thing called money so that it really is doing its job for you in creating the life that you desire. Yes,

Marcy Predmore  7:18  
yes. And that is so true. And really, you know, I think we all get into those passions that we love, because it may be tripped us up at one time or another where, you know, maybe we weren't as good around money or around starting a business or running a business. I think sometimes our weaknesses come to the front forefront. And it's one, it's something that we just grab a hold of and say, Oh, I really want to help people through that, because I actually was there.

Sue Thompson  7:48  
Yeah, exactly.

Marcy Predmore  7:50  
Yes. And I just really want to let the audience know that Sue is one of the most amazing people when it comes to giving you guidance with your money. So I really would encourage you to go to the CFO agency and just take a look at what she does, she works coast to coast, she does have several business partners that she works with. And that just helps everybody just to have the communication piece because money has to be communicated. Especially we're going to talk about the tip of the week at the end of the show on budgeting and it's just something that you really sometimes need a handheld for those particular things. So So I have some questions that I would love to ask you. And just really love to hear from your heart, what you can share with other women when these come to mind. So I'm going to ask you the very first question, it's pretty broad, but a lot of people kind of miss what success is. So I'm going to ask you what is success to you.

Sue Thompson  8:57  
Success to me, kind of goes right along with my definition of abundance, which is you know, we all get to define that for ourselves, right? But really being able to do the things that that you were I that I want to do what I want to do with who I whomever I want to do them with, and not worry about the cost of those things, but to do them because they're on my heart to do. Now sometimes I have to save to do those things and that's okay. But it's it's I think that the gift for each of us is the desires that we have. So I desired to live in a certain kind of house and I desire to travel the world and I desire to build my own business and those are gifts for me and now it's my privilege if you help to learn how to step into that, and fulfill it, and so, being able to do that, which is what I want to do that Success to me.

Marcy Predmore  9:58  
I love that in And truly the freedom to move, you know, success once once you really get your ducks in a row, once you get your scorecard put together, it does lend to the travel, it does lend to education platforms, it does lend for just reaching those goals and dreams that you really have had on your dream board or in your heart or wherever that is. Yeah, exactly.

Sue Thompson  10:25  

Marcy Predmore  10:26  
Did you make choice? Yeah, exactly. Well, that was one of the biggest questions. But the second question is, as you and I talked about just a little bit earlier, and you're in that industry, so many people are afraid to talk about money, or wealth? And really, what does that mean? So I'm going to ask you, what does wealth mean, to you?

Sue Thompson  10:51  
wealth to me, means I guess it goes back to my definition of abundance. It's the whatever that looks like for you, because it's different for all of us, right? You know, I mentioned you know, the kind of house you want to live in the kind of car you want to drive, the kind of clothes you want to wear. That's, that's your wealth, whatever that picture is for you. And I think we have so many emotional hiccups with money along the way in life. I know, ask me how I know I've walked them, right? learning how to deal with them and learning my own emotions that are wrapped around some of those things of, you know, do I deserve that? Is it good and right to want? That? Is it is it? Am I going to make a big enough impact in the world with that all of those kinds of things, which are really on our heart to live out, being able to step into that, that to me as wealth and, and dollars and cents and numbers is just kind of the lifeblood that makes it go round in the world. And so learning how to play that game is really important.

Marcy Predmore  12:02  
Yes, and that, you know, and that's really true. Again, I've, I've had now many interviewees, and so many people define wealth differently. Of course, many of us hear the word wealth, and we just assume that means money, it doesn't necessarily mean money. But again, one of the things that we want people to feel confident and comfortable is with their wealth. Yeah, because we want it to be fluid, we want it to be, you know, be able to take that next step and not be paralyzed over wealth. But the other part of wealth is really what you and I have done, really, since I've known you is we go out and we grow us. We continually continually are learning we go find people that that have actually been where we are, that achieved what we want. And so we love to go out and really be under their tutelage to help us get there. So tell us just a little bit about what really motivates you to continue to learn what what what do you look for?

Sue Thompson  13:13  
Well, I think of myself as a lifelong learner, I think that education is that one of those things that levels, the playing field, if you will, when we have a fear around something or contraction around something, it's typically because we don't know enough about it. So So I find it when you can go out and learn the things that are important to you. That will help you take that next step in in growth, help you help somebody else take that next step in growth. That's the motivation to me is to always be you know, bettering myself bettering what I can offer for others bettering high can make a difference in the world. Those are the steps that are important to me to be able to take. And I've been blessed with some amazing mentors through my life. I've had so many of them at different stages for different reasons. And so I learned from people I love to read I love you know, even conversations with all different kinds of people. Mike, Mike, I learned from my clients every day, every day I

Marcy Predmore  14:22  
love that part. That's the best learning part ever is just clients and getting to know them and their story too. So tell us a couple what what books what book comes to mind that that really just impacted you. Do you have any?

Sue Thompson  14:38  
Hmm. There's so many. I know. That's right. Can I think of one right off the bat? I think some of the initial personal development books that I read back in the day that really expanded my mind and I'm I'm I can picture the book. Can I tell you the title? No. But anyways, it's, it's just, um, just to get your mind to actually be open to the fact that it could be different than the way that you're looking at it. I think that in the crash of 2008, which literally brought me to my knees, in a many ways financially included, what pulled me out of that was being willing to learn, being willing to look at, okay, not everybody is in this space. So what made the difference? And what are the things that I can learn from that, so that no matter what happens in life, I can feel like I can maneuver it and I can make another decision, and I can move and go, instead of just being stuck. And I think that the personal development side of it of helping me to open my mind to new and different things, I also have a very strong faith background. And and that holds me strong in a lot of situations as well. So yeah, those, and I wish I could remember the name of that book, it's a very common book, but I'll think of it,

Marcy Predmore  16:15  
I was gonna say you will as we go on. Yes. And that wasn't one of the questions I prepared you for. But, um, that is exactly right. And really, what I want people to know, is just the realness that she was just talking about, we are all at different places of our journey in growth. And I know for Tim and I, and even for Sue, we definitely feel like if you're not growing, you're dying. If you're not stepping out in faith, to learn a little bit more, really, you're not you're just becoming stagnant. And I just, I think, in my journey, how the extraordinary became about is, is I was able to really go out there and get outside of my comfort zone. And it was scary. I, I didn't really even know what I was entering into. But now I just wouldn't change it for the world, even though some of those classes and seminars and workshops that I signed up for is like, Oh, my gosh, and I do this. So, because I know you are very busy in your profession, but also continuing to grow you speaking teaching across the country? What does the day in the life of CEU look like? How does your day start? And how does it end?

Sue Thompson  17:42  
I think what Well, every day My day starts getting grounded and centered. In clarity of what's important, what supports me, then, of course, that first cup of coffee, that's always really good to hear me. Yeah, yep. So Ken and I will have our coffee together every morning, it's a time to connect. And then it's, it's it's engaging, then it becomes engaging with my clients engaging with my team, engaging with new potential clients, with friends and affiliates, where we're trying to make a difference in the same space together. And that engagement, it's interesting. You know, they say you take a step, you take a step, you take a step, and then all of a sudden, it's just one of those things that happens every day. And it's true, it does begin to take on a life of its own. And as long as I stay conscious in that space of everything that's happening. It's a good day. And then the end of the day looks like once again, reconnecting with my daughter with my husband and coming back to center and, and then having a good night's sleep. Yeah,

Marcy Predmore  19:02  
yeah, that's perfect. And you know, so many women out there, and I'm gonna just focus on women for a minute. We're entrepreneurs, we're wives, we're moms, we're sisters. And so many times, yes, we really are in Delhi, in envelopes in our entrepreneurial ship, our businesses, but family also is so important. And you know, there's, there's our children, there's our grandchildren who really want our time. And that's part of the legacy that we talk about. It's not just legacy of money, but it's legacy of time with your family. So I just want to encourage these busy, busy women out there to make sure you take time and quality with your family, whatever that family looks like for you. I know it's it's extremely important. And I know my grandchildren will say Grammy, it's time to quit working We need to have fun. And so it's time to quit working some days and just have fun.

Sue Thompson  20:06  
That's true. Yeah.

Marcy Predmore  20:09  
Out of the mouths of babes, you know, they, they really are so honest, probably, if we put them on this podcast, they would probably all, we wouldn't be able to match to them at all.

Sue Thompson  20:20  
That's true. Yeah.

Marcy Predmore  20:22  
So we're going to talk just a little bit more about money. And we're going to talk about tradition around money. We've all grown up with a seed planted from parents grandparents environment that you grew up in, can you tell us just a little bit about the tradition around money that you you grew up with? how it's affected you today, positive or negative?

Sue Thompson  20:51  
The one that I grew up with was that money didn't grow on trees. And so the way I interpreted that one was, you have to work really hard to have money, which I did for a very long time. And it and then you get to the point of, well, I don't want any more, because I don't want to work that hard, right? I don't want to work harder than I am today. Which is one of those moments where you get to open your mind that maybe there's another way to do this, which is why I love the work that you do. It's it's putting your money to work for you, instead of you going to work for it and making sure it's doing at least double duty, if not more, right? That. It's like who knew you could do that? Right? Yes, no? Yes, that's the piece that is has has been something that brings me a lot more freedom than my old money story, I call it that's my, my nature story of you know, what you have to do with money. And then the nurture story, the inside story of, you know, do I deserve this? Am I worthy of having this kind of success in this kind of wealth, and, and those, those questions that come up along the way. It's just like the growing into speaking and teaching and training. I mean, eventually, what happens is the message gets bigger than you. And so you just do it. And it's the same thing with managing wealth. It's one thing to desire to have it. But you got to step into the game and learn it. And once you do, it's just like speaking, it gets easier and easier. And then you get to have a greater impact. And it's a nice thing.

Marcy Predmore  22:36  
Yeah, that's exactly right. And we've all grown up with whatever your environment was. But one of the things that Sue shared is many of you know, private banking concepts is a business that my husband and I run, and we work together with Sue, and what it is, is actually helping you like she said, just for it to become natural for you, you to utilize your money, possibly how to use $1 more than once. Hmm, wonder what that really means? You know, it's worth looking into, what does that mean to have your dollar working harder than you are? And of course, for me, as you were sharing, so we all grew up with those, my dad used to say, you know, you just got to work a little bit harder, just work a little bit harder, and you'll reap the harvest. You know, but how hard Do you really have to work sometimes. So one of the things that I really wanted to touch on is legacy, we just talked about legacy and quality of time. But you know, legacy, with your money is also so important to build a roadmap for your family, to actually give them you know, the treasure route of where the family came from. Because I don't know about you, Sue, but my mom and dad were hard workers, but I didn't know anything about our finances growing up. I just knew it was hard. And it was uncomfortable.

Sue Thompson  24:05  
Yeah, I had the same thing.

Marcy Predmore  24:07  
Yeah. So when we talk about legacy, and I know this is what you do every day cuz you touch people monthly on how their money comes in. So is that one of your strategies? Do you help them in their overall strategy for legacy? And really, how to prepare for that legacy?

Sue Thompson  24:27  
Absolutely, it's actually where we start. Because with my clients always say, the money's for something. So let's get really clear on what that something is. Then we can put the numbers and strategies up underneath of that. So it's a reality and not just a pipe dream of someday, maybe possibly kind of sorta, and then we can build the route to get there based on where we're starting from because everybody's starting in a different place. And another thing that I love about what you said is being able to To leave that financial legacy for future generations, whether that means leaving it to your own children or to causes that are important to you, I think one of the biggest crimes, if you will, of our previous generation, is not having the knowledge to pass the wealth on in a manner which they could have for all of us, because I'm sure your family was like mine, they were hard workers, but they, and they saved, and they've done nicely. And had they had a few more tools in their tool belt, they would have been able to leave a much different legacy financially than they were able to. It's, it's just, it's just that knowledge thing, and being willing to be in that conversation to make it happen. Yeah,

Marcy Predmore  25:49  
you know, and one of the things and I'm actually just because we are fluid here, we're going to just shift just a little bit because I had a few of your questions, but I really feel like legacy is something we should focus on. And, and really what legacy is, and, and I think what I'm hearing, Sue, say in what she helps Tim and I do and, and helps clients that we send her way is to really focus on where you are today. But where you're going, and then work backwards, really understand, when you make this amount of money, you know that if you continue to do these steps, these things towards wealth Foundation, you know, the legacy is going to be there. And the one thing, Sue, that I you had us come to Montana a couple of years ago, which was one of my most favorite trips. But we actually taught Sue's clients about building wealth, about how to use your dollar more than once. And so many people were so intrigued because they don't stop to think about that. I mean, Sue, if you could just share just, you know, a percentage of your clients that are really focused on their money is it is a very high.

Sue Thompson  27:06  
No, it that that's why they hire us is because we're all we're kind of that thing that knocks on the door every month of here's your financial picture, you know, and to kind of pull off automatic and actually stop and look at it. And there's nothing more empowering, when you can look at that and go, all right, I'm right on track. Or you could look at it and go, Oh, that's not what I wanted. But thank God, goodness, I looked at it now, instead of a year from now, or a tax time or some something down the road. Because now I can make a new choice, I can do something different, that will keep me on track for the goals that I have. And, and that that is why I'm not afraid to knock on the door every month.

Marcy Predmore  27:54  
And I love that because you know why? And I need to just tell everybody out there in the audience is if you are not in tune with your money today with how you're making it, how you're spending it, how you're investing it, then you need to focus because whatever that snapshot is, you need to take a peek at it and find out what needs to be done. And I know that it's scary. I know. I mean, Sue, you've had people come to you to just say, I don't know anything about my taxes. I don't know anything about my money. But that's why you use people that really can get you where you want to go. But that's your expertise. So that legacy is so important. And then the next piece of the legacy. We just talked about kids and grandkids. I know we both just adore ours, but they need to know they need to know the life story of money and our life story. And do you share that with your clients when you talk with them?

Sue Thompson  28:53  
Do I share with them my life story know

Marcy Predmore  28:56  
how to how to to build the legacy their legacy story to their family?

Sue Thompson  29:03  
Yes, absolutely. Because it's you know, another thing that is a shame or a crime is when money does get passed off. In a legacy two people have no idea what to do with it. That's almost not as fair as not passing it on. Right. It's we want to break that cycle of money having some kind of psychological hold that it was never meant to have that needs to be in its rightful place is a tool that supports the life that you have on your heart to create. And then teaching people the steps the process to use. It's I always tell my team you know, what we do is not rocket science. And what we do is critical to people's long term success financially. So it's it's just being willing to be in the conversation is the first step and then being open. open to exploring different options. Because there's many ways to skin the cat, there's many ways to make to create wealth, there's many ways to manage wealth, it's a matter of finding the one that works for you. Just Just like file systems, you know, I tell people that, you know, I don't care if you've got manila folders, or flowered folders, you know what I mean? Like, it's totally up to you how you want to do this, or digitally, whatever it is, and, but you got to have a system. And you got to be willing to learn the process, so that you can take those next steps. Yeah,

Marcy Predmore  30:36  
yes. And really, that's true. Because if you're not aware, and I'm really big on that a word right now aware, if you're not aware of where you are, how do you know where you want to go? Yeah, you can't, you can't. And then again, when you're an entrepreneur, when you own your own business, you can't be the jack of all of those trades that need to be done, you need to go out and find some people to help you really take care of whatever it is the bookkeeping, you know, the marketing, whatever that is, you can't be the center of you can be the center of all of it, but you can't be the person doing all of it.

Sue Thompson  31:16  

Marcy Predmore  31:17  
And I know, just even with the the women's retreat that we went to last spring, before all of this life change, I just remembered those women saying to us, Sue, you know, they just work so hard and so fast. And, and they have to get this done. And this done. They just didn't even really think where where were they today?

Unknown Speaker  31:39  
where somebody's going?

Marcy Predmore  31:41  
Yeah, yeah, where is it going? And so I guess for me, that's one of the reasons I really want people that hear this message is, stop for a minute, come back, take a look at what Sue does what we do, and just reach out and have somebody maybe to help you look at your picture and maybe get a different snapshot. So as we talk about legacy, you've mentioned it earlier, let's talk a little bit about part of that legacy. It's not always money, but it is mentors. It's its books, it's living, its people maybe not even being here. But how have mentors changed the way you think and the way you do business?

Sue Thompson  32:27  
Well, like I mentioned earlier, I've been blessed with a lot of mentors. And I think one of the things that has always been interesting is initially I always thought all the answers were outside of me. But a good mentor will help you identify the things that are inside of you, and then show you how to use them in whatever space you're trying to learn in. Right. And as a business owner, we have to learn all the basics, we have to learn the money piece, the marketing piece that how to manage team, you know all of those things along the way, until we can then have someone else manage them for us. And so finding mentorship along the way in each of those areas, as I've grown and started out in the personal development space, because I had to you know, even just owning who I am was the first step. Then learning how to be a business owner, as as a woman because women do business differently than men. Yeah, so I mean, coming out of the money field, which was a male dominated world when I was working for companies, that was a that was a mind shift for me, and then the, you know, mentors of, of different segments. And now and I've worked with some really strong spiritual mentors along the way as well. The woman I'm working with today Is she really helps me to stay grounded in the bigger vision and picture of what I have, you know, you do something long enough and that it's cutting, kind of take that element on. But my mentors, I've also had mentors that have told me what I don't want to do. So I've I've hired a mentor and kind of watched how they work and go, Okay, I don't think that's a good way to do things. Thank you for that lesson. Right? So there's some there's been both in my life but I that if I didn't have that long the way I would never be worrying today. I would still be spinning at a much slower space and rate and it I wouldn't have have been able to create what I've created so far in my life, which is

Marcy Predmore  34:42  
a gift. Yeah, you know, and that is so true. And I I love that word gift. I say it all the time. My day is a gift to open but the businesses the relationships have been a gift to me too. And mentors. You're right. Some push you some Maybe you just ingest what they have to say. And you just, you just enjoy a portion of it, you maybe don't accept all of it. I know, especially in the financial world, I've been in this arena for just under 25 years. And you are right. 15 years ago, it was so male dominant, I had to really stand my ground with just my confidence who I was at that time. And with mentors today, we right now, Bob Proctor is one of our main mentors. I listened to him every morning, and I read every morning. But he constantly is saying, if you just do what I do, you can have what I have. And he intrigues me so much, that I trust him that I do listen to him. And that's really what we money mentors are all about, we really want to be there. Not that, that we know it all. But we You and I have failed, we have had to learn some hard lessons, we did have to throw out a buoy a life jacket, just to keep us going in 2008, possibly nine and 10. I know the few people we talked to have in Montana, when we did the workshop, that was one of their things was they kind of had to double time it just to get back on track. And that's what life is it's cyclical in that manner. But when you have a mentor, it really helps you to, you know, just keep your focus up front just really grow you and hone your skill and help you to take the next step on the journey. Yeah, yeah. So we're going to talk just a little bit about, we always have a tip of the week. And I picked the tip of the week, because Sue is there's not a better person to ask, but we're going to talk about budgeting today. And budgeting really, truly just helps you be aware of where you are, and help you feel confident and comfortable with what's around you. So Sue, can you give the audience just some basic tips on how to create how to use a budget.

Sue Thompson  37:26  
So I think the first place to start is with the forecast of where you want to get to. And you can make that forecast as far down the road as you want. But eventually, you got to bring it back to 12 months from now, where do you want to be? And then that 12 months with them, the other side of it is looking at what I call your baseline? In other words, where are you today? And, and I when we work with our clients, it's both corporately and personally. So it's the whole picture. Because wealth development is happens on the balance sheet. And most people don't even know how to read that or don't even have one. And so bringing that piece into the picture is really important. Right? Right. And then we got to look at how we're going to close the gap. And we can close that gap in you know, by month, we can close it by quarter, at least every six months, please look at the power of the budget or the forecast is looking at it against what actually happened. So if you set a budget of you know, I want to generate this much in revenue, or I want to increase my bottom line by this percent. Or I want to reduce this overhead cost by this many dollars. You start to walk it right and then at the end of the month, you want to look at how on track where are you with those numbers in light of what you had forecasted. Now you are empowered to make another decision, you can change your forecast, right, you can go for a different number, you can change the amount of time, you can change the strategy of how you're going to get there as long as you're looking at it on a consistent basis. And the other thing that is a really good mindset around budgeting is if you think about every penny you spend as an investment instead of an expense. So in other words, when I go to the grocery store, and I buy a block of cheese, and I buy a block of cheese for 20 cents versus a block of cheese for $20 I have a completely different expected return on that $20 piece of cheese as opposed to that 20 cent one, right? So I want to be really mindful. Every time I spend what is the return I'm looking for and that return them. When you're mindful of what I'm expecting, then the next step is to inspect what you expect. When I sit down to eat that cheese, did I really get my $20 worth, right? And then I can make a decision of whether I want to do that again or not. And I think that if you can shift your thinking to Oh, I just have to, you know, pay the utility bill to know I'm investing in how I want to live my life, because you could live in the middle of nowhere with no utilities, right? Or you could get the panels and do this something. I mean, there's a million ways to do it. You have to decide for you if the investment in that is a good return for you. And and if you ask that question of every dime that you spend, you might be surprised what the answer is for you.

Marcy Predmore  40:52  
You know, and that's true. And one of the questions I just talked with a client yesterday, just a young mom, but I had to tell her to be honest with herself in her budgeting, because she said, Well, we go out to dinner, because I'm I have a three year old and I get really tired. And I don't really I don't pay attention to that we just do it because I needed it or I feel. And I said, Well, you know, if you're not honest with yourself about where those dimes and dollars are going. Next thing you know, you do get behind the eight ball. And that's where the stress and the fear comes into play. Don't you agree? If they, you know, if you don't pay attention to it, it kind of smacks you in the face at the wrong time.

Sue Thompson  41:39  
Yes, it does. Yeah, yeah. That's like business owners, you know that. If there's money in the bank account, and I can hit payroll, I'm doing good.

Marcy Predmore  41:48  

Sue Thompson  41:48  
I'll tell you the day that it comes when you do that. And you have no idea how you got there. That's a really scary day. And so it's, it's important to always look at what's happening, what's the impact of what's happening along the way. So that because it usually takes 30 6090 days, depending on what you're shifting, in order for show up. And so you, you always want to be checking in to make sure that you're getting that return that you were hoping for Yeah. And that someday the bank accounts not empty. Yeah,

Marcy Predmore  42:22  
it changes your whole the whole energy around money for you. Because, again, it's not in control of you, you're actually in the driver's seat, you actually be, you're actually able to be in control. And again, I don't know about you, and I know many of the clients that we we work with together. But we have clients all the time that say, you know, I, I had a budget, I really thought I paid attention to it. And then the next thing we know, they don't even really know how much money they make in a year or in a month. What is the outgo? What's the income. So it's really important to have someone like Sue, just to come alongside of you to keep that communication line open for one thing, but to help you strategize with the whole picture. Because investing is fun. And that's what we'll have, we'll have a tip of the week down the way and it'll be about investing. But right now we just really want you to focus on the basics, and taking care of where you are today. But again, I'll just say one more thing around that energy is one of the things that attracted me to you. So we taught we actually got introduced over a phone call. And we kept trying to meet in person, but Sue just really loves what she does. And again, I don't know why cuz numbers aren't my thing. That's why I have experts that numbers are their thing. But you just have such a passion for people. And it's not scary. It's not uncomfortable to call you and say I really need help. And we've had a lot of clients just in the last six months say thank you so much for introducing us to sue at the CFO agency and the concierge accountancy because it just simplify their life so they could go out and make more money so they could go out and and be passionate about what they do.

Sue Thompson  44:23  
Yeah, yeah.

Marcy Predmore  44:25  
So is there any last tip that you would like to impart share with our audience, could be money could be energy could be spiritual, anything you'd like to impart before we say goodbye.

Sue Thompson  44:41  
I think the the encouragement is to be really willing to embrace the gift of the visions that you have the things that are on your heart to desire. Those are in my mind, those are gifts for you that You desire them, because that's important for you. And there's something in there that brings you more fully into the world and having those things. And if the money piece of it or the number side of it is scary, then get some help with that piece of it. Because not having those living out those dreams and desires. His takes away from what the rest of us get to see of you in the world. And I would I just feel really strongly about having good people with good heart and good desires and powered financially in the world and making a difference in that way. So let money be the tool that it is and just take you where it is that you want to go.

Marcy Predmore  45:43  
Yeah, oh, I love it. And again, let the money be the tool that it is, it doesn't have to control you, you can actually be in charge of it. And you know what I just really su want to thank you for just coming on sharing from your heart, really, who you are through money. And thank you for being a business partner with us. We really appreciate all you do and how you take care of our clients. And if anybody would like if anybody has any questions at all, in the show notes, we will have Susan's contact information, the CFO agency and the concierge accountancy, so you can actually go on, take a look, again, they weren't coast to coast, they actually communicate with you, they actually communicate back to you so many times you get into the money realm. Somebody wants to sell you something or give you something and you never hear again, I can assure you that the CFO agency does communicate with you. And, again, Sue, thank you so much for your time. And thank you all in the audience. And we hope that you have an extraordinary day.

Janay Harris  46:59  
You've been listening to ordinary women extraordinary wealth with Marcy Predmore-McPhee. Be sure to drop us a line if you're enjoying the podcast. As we always love hearing from our listeners. Let us know what you think by looking us up at ordinary women extraordinary wealth com or on social media, where you can join our private group on Facebook called ordinary women extraordinary wealth. If you'd like to connect with Marcy on LinkedIn, you can find her by going to linkedin.com forward slash i n forward slash Marcy dash Predmore-McPhee. Also, it would really mean so much to us if you would leave us a five star review on your favorite podcast platform. If you found this episode valuable. Be sure to share it with your friends and colleagues. And remember, we publish new episodes every Wednesday, so be sure to subscribe. See you next week.