00:04.43

fatimabey

And welcome everyone. Today we have with us Wesley Simpson. He is from Calgary, Alberta in Canada. He is a financial wellness coach from Lighthouse Capital Financial Corporation. And for all of you listeners, this episode is for high school and college students, but adults y'all need to listen to cause this man has a lot of wisdom and um you're going to get something out of this. So how are you doing today with Wesley?

00:31.18

Wes

I'm doing great Fatima, how about you?

00:33.47

fatimabey

Good, good. I'm looking forward to this conversation because I think it's just so important. All right, I'd like to dive right in. So let me ask you, how does location affect finances? Some people don't think about.

00:47.40

Wes

Well, location can be a a number of things. it can be It can be where you live. It can be where you work. It can also be who you surround yourself with.

00:58.09

fatimabey

Hmm.

00:59.39

Wes

So that's a difficult question.

00：59.64

fatimabey

it

01:02.99

fatimabey

How do each of those affect? Let's start off with ah your physical location, like what city and town you're in. How does that affect your finances?

01:11.80

Wes

Well, cost of living will affect you depending on what your income is versus what you're spending out. yeah You could argue that you know if somebody that lives in, say, Toronto or New York City is going to have a higher cost of living than somebody that lives more in a rural area.

01:18.34

fatimabey

Right.

01:26.95

Wes

but

01:26.72

fatimabey

Right.

01：27.73

Wes

somebody lives in a city might have a higher level of income too.

01:31.66

fatimabey

Exactly. So just because it's a higher income doesn't necessarily mean that they're making more because it could be spending more too.

01:38.91

Wes

Correct.

01：40.02

fatimabey

And what about who you surround yourself with? How does that affect your finances?

01:43.90

Wes

這可能是最大的問題之一，因為你周圍的人通常不僅會影響你的財務狀況，還會影響你生活的各個層面。

01：46.16

fatimabey

Mm hmm.

01:55.46

fatimabey

Mm hmm.

01：56.63

Wes

好的。如果你身邊都是積極向上、充滿活力、對未來有遠見的人，你就能比那些心態相反的人成功得多。

02：09.29

fatimabey

Right.

02:10.39

Wes

對吧？所以這就是關鍵。讓你身邊都是那些會激勵你變得更好的人，激勵你自己變得更好的人。

02:21.45

fatimabey

So if the its does surrounding ourselves with people who are financially irresponsible affect us?

02:28.70

Wes

Yeah.

02：29.63

fatimabey

How?

02:31.15

Wes

Well, if you're trying to save some money for whatever college or you're trying to save for a special event and you got a friend of yours that's always eating out, always going to the bar, always going to the movies, they tend to guilt you into doing stuff that you wouldn't normally do because you have a better vision for where you want your money to go.

02:46.78

fatimabey

和

02:50.83

fatimabey

Hmm Exactly Yes, thank you for that. That's a perfect example because it's ah a very very real one that most of us don't think about like, oh I really want to go out to the club and every time you go out to the club you spend $50 and Do you really have that?

03:06.81

Wes

Right.

03:07.21

fatimabey

Now that you should know that you can't do that But the frequency with which you do that may be influenced by your friends. You're a hundred percent, right?

03:14.85

Wes

Yeah.

03:15.60

fatimabey

Now let's dive into college students. um Let's talk to them. So what should a college student do right now to have a good financial future?

03:24.65

Wes

Well, they got to have a vision. They got to have a vision of where they want to go, what they want to be, what they want to do. They got to want to know that, you know, where they see themselves in 10 years, five years, two years, and then they're going to start prioritizing those needs. And that's, that's where you'll find certain people. If the desire is to buy a house or to buy a business or to relocate to a different area of the country, they tend to spend less on the non-serving stuff, like

03:59.99

Wes

going out to the pubs every night or eating out every day on Uber or whatever it is. They tend to have a better vision for where they want to be. If they have a goal, if they have a strong enough why, why do I want to do this?

04:17.25

fatimabey

Okay, what about the students who okay It's you can't have this conversation without talking about student loans because the reality is when when a lot of our art

04:24.28

Wes

不。

04:27.53

fatimabey

or college students graduate, they're graduating with this tremendous amounts of debt. I think people are starting to learn and really wake up to that and finding better ways to do it. But unfortunately, we're not going to see those results for several years from now because it takes years to see. But, you know, someone who let's say they're getting out and they're they're getting a position that's going to cost, you know, that's good. They're going to make like 75 grand a year, which is pretty good, ah depending on where you live anyway. And most of the country is pretty good.

04:57.17

fatimabey

所以你每年能賺7.5萬美元，但你每年要還2.5萬美元的貸款。我的意思是，這佔了你收入的很大一部分，所以你剩下的收入不多了。他們該如何規劃自己的財務未來？

05:13.83

Wes

Well, and that's a tough one because there's not a ton left, you know, so they they might be looking at what do I sacrifice today for tomorrow?

05:19.00

fatimabey

Mm-hmm.

05:26.91

Wes

Maybe they don't have an apartment on their own.

05:27.00

fatimabey

Hmm.

05:29.34

Wes

Maybe they got to have roommates. Maybe they have to work a second job short term to try to get the leverage they need to build

05:31.27

fatimabey

Yeah.

05:41.65

Wes

他們為自己設想的收入或財務未來。這並不適合所有人。有些人會很滿足於混日子，只償還最低限度的學生貸款；而另一些人則希望盡快還清貸款，這樣他們就可以買房，買生意，買任何東西，甚至去度假。

05:57.75

fatimabey

Yep.

06:04.72

fatimabey

Right. they'll They'll achieve financial freedom a lot faster if they can find a way to to pay it off sooner.

06：11.23

Wes

正確的

06:11.73

fatimabey

嗯，我想說的另一種方法是，如果你還在上大學，而且我們現在正在和你談話，你現在還在上大學，而且你還有幾年的學習時間。看看還有哪些獎學金。

06:24.98

fatimabey

嗯，看看你還能做些什麼來避免借那麼多貸款。有些時候你無法避免它，但如果你無法避免它，該死的，避免它。

06:35.18

Wes

Hands down.

06：35.54

fatimabey

um Yeah, and that's definitely, that's really great advice though. umm Another question is, when should anyone start caring about finances?

06:46.36

fatimabey

We should wait till we're like 25 before we care about finances, right?

06:50.28

Wes

Yeah, I wish. um yeah You can start, you can i've I've seen kids, i've taught I've had kids, when they're 16, they've got a vision.

07:00.32

fatimabey

That's beautiful.

07:01.44

Wes

Okay, and then I've talked to some people, they don't get their vision until they hit 40. the The answer is you you can't change yesterday, so how when is now a good time to get started?

07:06.18

fatimabey

Yeah.

07:11.76

Wes

好吧，嗯，對有些人來說，越早越好，顯然，因為投資會有複利。但掌控自己的資金能為你帶來無限的自由，感覺太棒了。

07:28.59

Wes

當你牢牢掌握語言時，你的生活將不再有壓力，不再為錢而煩惱，你所擁有的願景實際上比人們意識到的更加自由。

07:45.46

Wes

Does that make sense?

07:48.23

fatimabey

Yeah.

07:49.63

Wes

好的。

07:49.24

fatimabey

是的。你。是的。財務自由。

07:54.76

Wes

it It is and it's not it's not a dollar sign. It's a mentality.

07:58.78

fatimabey

確切地。

08:00.19

Wes

Right.

07:59.73

fatimabey

Yeah.

08:00.90

Wes

如果你有…我稱之為「每一美元都得有份工作」。但如果你真的清楚自己的錢該花哪兒，並以此為目標去運用，你的生活品質往往會更高，因為你不會為此感到壓力。

08:16.26

fatimabey

That is so true. As adults, because as a teen, I will say right now, as a teen, if you do not figure out how to handle your finances right now, you will be a stressful adult.

08:28.68

Wes

Yep.

08:28.52

fatimabey

There's so many of of us adults running around stress the hell out because we didn't manage our finances when we were younger. We became an adult. We still didn't manage them.

08:38.56

fatimabey

We just kind of let them manage us, which is the wrong way to run things. And then you're just absolutely I'm stressed.

08:49.77

fatimabey

Hold on edit.

08:50.64

Wes

Well, stressed as yeah you' pressed at work, you're stressed with your friends.

08:52.50

fatimabey

I hold on edit. I'm going to stop, stop, stop, stop, stop.

08：55.77

Wes

huh

08:57.44

fatimabey

I, a big fact noise just came on. I don't know if you heard it. I'm going to re-say what I just said.

09:04.25

Wes

好的。

09：03.91

fatimabey

So ah you didn't hear, but I didn't realize that I left my other Chrome open. I thought I closed it. So I got a notification that popped up and it made a big noise. Um, so I'm going to edit this out, but, um, can you repeat the last thing you just said when you asked me if I understood?

09:23.35

Wes

我松鼠。

09:25.89

Wes

Did that make sense? Um, being stressed about money.

09:30.13

fatimabey

Yeah.

09：31.34

Wes

所以，如果你為金錢感到壓力，它會影響你生活的方方面面，也會影響你的友誼。

09:36.43

fatimabey

It does.

09:38.24

Wes

它會影響你的工作質量，影響你的學習質量，也會影響你和另一半的關係。

09:45.11

fatimabey

你說得對。你說得對。人們不會考慮這個。

09:47.57

Wes

No, it affects every aspect. It affects your health.

09：52.02

fatimabey

It does big time.

09:56.27

fatimabey

Absolutely. i You have such a valid point. People don't think about money affects every area of our life. It really does.

10:05.00

Wes

right Well,

10:04.91

fatimabey

um

10:08.54

fatimabey

What are the parts of financial planning that people tend to overlook? We all get this cookie cutter stuff that we learn in school, but what's outside the cookie cutter that people tend to overlook that's important?

10:20.63

Wes

well but one thing I try to get people to do is prioritize what's important to them. like I don't care what it is.

10:27.16

fatimabey

比如什麼？

10:29.13

Wes

if if For you, if if Drinking coffee is a priority out of Starbucks every day. hi How are you making that fit into your and what you've got available for money?

10:41.18

Wes

so you need You need to make sure you put money away for for emergencies. yeah you know thats That's your common sense stuff, right? Put away for your emergency fund.

10:47.57

fatimabey

It is. Yeah.

10:49.28

Wes

But if you don't have a priority list of where you want your money to go and what you want it to do, then you're in a reactionary situation.

10:58.88

fatimabey

And then ah the your money has wings. It'll fly away.

11：01.85

Wes

It's gone. That's why it's currency, man. It's why it's called currency because it flows through your hands. So if you're not intentional with it and you don't have a job for every dollar, it's gone.

11:06.55

fatimabey

Yeah.

11:12.59

fatimabey

Yeah. You're right. Very much so.

11:17.14

Wes

Right?

11:16.73

fatimabey

Very, very good point. Yep.

11:20.82

fatimabey

So, that vision, you keep bringing up vision, and I and i i just think that that's so extremely important. I keep hearing that from you. Vision. so What I'm hearing is that we need to be thinking about where we're going and not just the next five minutes and the next point of gratification, whether it's cigarettes, whether it's drugs, whether it's alcohol, whether it's sex, whether it's going out to the club, whatever your your gratification is and as it relates to money.

11:37.12

Wes

正確的

11:48.49

fatimabey

So, you know, the next date, whatever it is, if you're only thinking about that, you're going to be the person in the future who's like, why did all my money fly away? um What is it?

11:57.64

Wes

If you're going to have a vision for where you want to see yourself down the road, ah i can I give you an example? okay I had a vision of being in Greece for when I turned 60.

12：09.80

fatimabey

好的。

12：10.75

Wes

五年前，我們就把這個計畫落實了。我想這麼做。好吧，但我們每個月的錢就那麼多。所以我審視了一下自己每天在做什麼，心想，這比去希臘更重要嗎？

12:26.55

Wes

One thing was not, it was $10 a day I was spending, threw that into a different account. Five years later, we're in Greece because I stopped spending $10 a day on a certain habit.

12:36.91

fatimabey

哇哦。分清輕重緩急，你之前確實說過。所以，要有遠見，並且分清輕重緩急。這兩個關鍵原則區分了窮人和經濟無憂的人。

12:48.38

Wes

Right? What's a bigger priority? This thing you're doing right now or the vision you have?

12:57.74

Wes

what's going

12:57.14

fatimabey

So maybe you just don't buy a new pair of shoes next week, girl.

13:00.59

Wes

不，不，只是再把舊的擦亮一會兒，你知道的。

13:02.32

fatimabey

um For a little longer, nothing wrong with you buying something here and there, but you can plan We can plan, correct Wesley, we can plan our fun things, our joyous things with our money too.

13:15.30

fatimabey

你不必全部都這樣做，因為有時當青少年或任何人從財務顧問或任何談論財務的人那裡聽到這些時，他們就會說，省錢、做好計劃，你知道所有這些好東西。

13:25.83

fatimabey

And they're like, and then I'm going to have a boring life, but you don't have to.

13:30.80

Wes

不。

13:30.56

fatimabey

因為你也可以為此做計劃。出去吃飯，但不要每週去。一個月吃兩次就好。

13:36.48

Wes

Right? If the

13:36.92

fatimabey

you know, and you can take that extra hundred bucks you saved by not going out every week and put it towards your trip to the Bahamas or whatever, buying Fatima some whatever.

13：43.09

Wes

team wants and then send it to her, right? um But if if being part of a community is important to you and you get a rush, you need that connection where you go for a coffee with people, just schedule it.

13:53.42

fatimabey

Yeah.

14:02.76

Wes

但不要每天都這麼做。

14:02.65

fatimabey

是的，你不需要每天都這樣做。

14:06.51

Wes

Right?

14:06.65

fatimabey

And sometimes you can drink coffee at home. You don't need to have Starbucks.

14：10.86

Wes

真有意思。邀請他們過來。

14:13.03

fatimabey

Yeah, you you really can, because I started to do that myself. im What does it look like when we don't plan for our finances? What does that look like?

14:25.54

Wes

哦，冷

14：29.07

Wes

Speaking from experience, pain, um frustration, anger.

14:32.01

fatimabey

That's a good word, yeah.

14:36.87

Wes

如果你和過去許多曾經給予幫助的人交談，你會感到孤獨，因為他們最後都離婚了。嗯

14:44.27

fatimabey

Hmm.

14:48.11

Wes

痛苦。我只想說痛苦。當你身處在未曾計劃的境地時，你就會感到痛苦。

14:52.18

fatimabey

因為你正在從一件事跑到另一件事。

14：54.96

Wes

Right? It's your one crisis away from, it's just, it's, yeah.

14:58.94

fatimabey

徹底崩潰，壓力很大。然後你就會把壓力發洩到你的女朋友、男友、小孩或是你周圍的人身上，甚至是同事身上。

15:05.56

Wes

Yep. Co-workers, yourself, and anxiety built up.

15:08.90

fatimabey

Yeah. Yeah.

15:12.97

fatimabey

and that causes stress thats within your body, you get an ulcer, your eye starts twitching, lots of other physical things.

15：19.18

Wes

嗯，那麼對學生來說，你們在這些考試中表現如何？

15：27.80

Wes

If you're constantly stressed about money, how are you doing on the exam?

15:31.88

fatimabey

尤其是作為一名大學生，是的，是的。

15:33.75

Wes

Right?

15:35.79

fatimabey

因為你擔心，天哪，我是否能上完下學期的課，因為我無法在四月之前支付學費，無論日期是哪天。

15:39.35

Wes

Am I going to be able to pay the rent? Is my apartment still going to be there? My room's going to be there when I'm done the exam.

15:47.84

fatimabey

Yeah, there's a lot of homeless college students. So it's it's a rare very real stress. you you you You have a very valid point. i'm More than I'd like to admit are are there.

16:00.09

fatimabey

Let me ask you this scenario.

16:01.97

Wes

好的。

16：03.07

fatimabey

Let's say we have a high school student who grew up poor. No one around them has any money either. They know, they just know, Hey, I don't want to be, I don't want to stay poor. So what should they do right now today to make a different future than what they grew up with?

16：22.91

Wes

完全超出目標範圍。為什麼不要這個？

16：27.02

fatimabey

Ooh. Why do you not want to stay poor?

16：30.68

Wes

好的？

16：30.46

fatimabey

That's a good idea.

16:31.15

Wes

因為你不想要的反面正是你想要的。現在你已經有了自己的願景。接下來你要做的就是找到一位導師。

16：40.76

fatimabey

Yes. To help you get there.

16:45.44

Wes

Mirrors somebody that you admire that is where you're going, but maybe came from where you're at.

16:45.58

fatimabey

and

16：51.11

fatimabey

Yes.

16：53.45

Wes

Does that make sense?

16：54.97

fatimabey

Absolutely.

16:56.77

Wes

好的？

16:56.66

fatimabey

因為那個人會理解你的處境，而不是那些一輩子都很富裕或有錢的人。他們不會理解從零開始，然後一步步累積起來是什麼感覺，因為他們從來就沒有從零開始過。

17:13.26

Wes

Correct.

17:12.95

fatimabey

So very, very, very, very, very solid sound and just solid advice. Um, so start off with a list. That's something they can start doing today and then get a mentor because that person can help you take you from where you are to where you want to be.

17：28.93

fatimabey

即使，呃，讓我問你一下韋斯利，即使一個人今天一貧如洗，並且符合我剛才描述的情況，他們還有可能在幾年內成為百萬富翁嗎？

17:40.50

Wes

Do they think they can do it?

17：42.87

fatimabey

That's the key. That's the key thing. You're right.

17:44.99

Wes

If you think you can do it, then the only person holding you back is you. So let's go get it.

17：49.32

fatimabey

Yes, you can. Cause there've been people who have done it.

17：53.44

Wes

確切地。

17：53.21

fatimabey

他們沒有。我說的是幾年後，而不是一夜之間，這不會在五分鐘內發生。

17:57.56

Wes

There's no overnight, there's no quick oats for this, okay?

17:57.35

fatimabey

這會發生的。不。

18:00.83

Wes

This is a process, not an event. It takes time. But when you have the vision and you develop the habits, you create the strategies, you can get there.

18:04.45

fatimabey

Yes.

18:12.80

Wes

And you'll look back one day, you'll go, Holy crap, did I come a long ways?

18:17.26

fatimabey

Yes. And it feels so good. It feels so good. I love it. When I see people just on social media celebrating, my house has paid off. My car is paid off. I just paid off the last time I stood alone, like stuff like that.

18:29.51

fatimabey

I celebrate with them. I think it's beautiful. I love seeing that because I know that they have worked hard and probably struggled to be able to do that. They made sacrifices. Usually almost a hundred percent of the time they made sacrifices to be able to do that.

18：38.57

Wes

Yeah.

18:41.00

fatimabey

And it's especially hard if you're also raising kids, you know, um,

18:43.63

Wes

但他們是否做出了犧牲或優先考慮了什麼？

18：47.96

fatimabey

哦，說得對。這真是思維轉換。你可以把它看作是一種犧牲，也可以把它看作是優先考慮的事情，後者要積極得多。

18:58.32

Wes

Yep.

18：59.22

fatimabey

Very good. You're good, Wesley. Wesley's been doing this for 752 years, so I think he knows what he's talking about. um Let me ask you this also.

19:11.30

fatimabey

I'm going to ask you about a different person. so what about the young man or young woman who has parents that are wealthy and been taking care of them their whole life and they're thinking, nah, I don't need to worry about my finances cause mommy or daddy got it. What about, what do you have to say to that person?

19:30.59

Wes

You're in for a rude awakening.

19：34.22

fatimabey

為什麼？

19:35.96

Wes

Cause the mentality is still the same. You have your base, but if you don't have a vision for where you want to go and where you want to be for both you and your money, it's going to disappear. Eventually mommy and daddy, it won't be there.

19：54.60

fatimabey

So what you're saying, what I hear you saying is it's not so much your means that matters when it comes to money matters. It's your mindset.

20:05.24

Wes

It's a hundred percent your mindset.

20:07.83

fatimabey

好的。

20：08.75

Wes

我看過有人繼承了數百萬美元，卻最後揮霍殆盡。他們揮霍殆盡，是因為他們缺乏自律的心態，無法預知這些錢究竟能用在何處。

20:25.58

Wes

Does that make sense?

20:24.97

fatimabey

That makes absolute sense.

20:28.66

Wes

好的。

20:29.10

fatimabey

Mindset, mindset over all matters, not just money matters.

20:32.41

Wes

and We call it, money is called currency because it flows. And if you're not mindful of it, if you're not intentional with it, it'll flow through your hands and disappear.

20:36.85

fatimabey

Good point.

20：45.97

fatimabey

You're 100% right. What other services do you offer?

20:54.43

Wes

嗯，我提供一對一輔導，幫助那些難以入門的人。我為那些只想更好地掌握金錢基礎或基本知識的人提供工作坊。嗯，金錢與一切都息息相關。金錢與人際關係息息相關。金錢與人際關係息息相關，但最重要的是，與自己的關係息息相關。所以，雖然我是財務教練，

21：25.22

Wes

Most people think once we're getting done with the coaching that really we're more life coaches because we just help them focus on the area that's the most pain, which for most people is money.

21:36.28

fatimabey

毫米。

21：37.40

Wes

So I do one-on-one coaching and and i work I offer workshops.

21：37.52

fatimabey

Good point.

21:41.37

Wes

I don't sell any products. I basically sell transformation.

21:43.92

fatimabey

Okay. I, ah and this is why I love you. I absolutely love that. I absolutely love that. and um And, um, and I can hear it. We can hear that you sell transformation and because that's what's needed transformation, not just information. And that's what changes people, not information.

22:06.45

fatimabey

And so um how can people find you?

22:10.45

Wes

Well, you can go to my website, lighthousecapitalfinance.ca. um

22：17.93

Wes

I'm on LinkedIn. You can look me up. My name is Wesley Simpson. um I am on Facebook. Lighthouse Capital Finance on Facebook is my business account. um

22:30.51

Wes

in

22:30.36

fatimabey

And the lighthouse capital website ah will be linked in the podcast description. So you guys will be able to get to him there.

22:37.92

Wes

from

22:37.51

fatimabey

And I made a joke about you doing this for a thousand years or whatever number I just said, but how long have you been in this arena?

22:46.32

Wes

Professionally or or indirectly?

22:49.58

fatimabey

從專業角度，間接地，我知道它總是更長。

22:50.79

Wes

Professionally, I've been doing this about five years now. Okay. I've been a certified international finance coach for about two years, but I've been helping people fix their money habits and credit and that for the last 20 years.

22：54.98

fatimabey

Really?

23:03.94

fatimabey

I thought it was about 20 years. um It's not it's not two years, just 20 years, because that doesn't count.

23：05.83

Wes

Yeah.

23:09.18

Wes

Yeah.

23:08.68

fatimabey

You've been doing this for a lot longer.

23:10.41

Wes

我一直在做長壽，但並沒有真正把它當成一門正式的事業。

23:10.52

fatimabey

um

23：14.33

fatimabey

Yeah.

23:15.38

Wes

till a few years ago.

23：16.80

fatimabey

I understand that I'm the mind shifter. I didn't start I didn't become officially the mind shifter till after the pandemic. But I've been mind shifting my whole life.

23:24.28

Wes

Right?

23:24.05

fatimabey

So just in unofficial capacities and sometimes official without that title in in another positions. But, uh, well, Wes, it has been, Wesley, it's been really, really, really good talking to you.

23:36.85

fatimabey

Um, I really have enjoyed this conversation and. You just did a lot of mind shifting today, and ah it's beautiful. And i I really hope that listeners that you follow up with him um and and seek out his services. He's clearly very good and very straight to the point. And I absolutely love that. So once again, thank you, Wesley.

23:57.66

Wes

It's been an honor. Thank you for having me.