IAM533- Personal Finance Expert Helps Families Eliminate Debts

Ashley Patrick is a personal finance expert, and founder of Budgets Made Easy. She helps families eliminate debt using simple strategies so they can stress less and live the life they want. She was able to pay off $45,000 in just 17 months including $25,000 in student loans in just 10 months. Ashley is a Ramsey Solutions Master Financial Coach and help people like you manage their budgets so they can live the life they want. She also has a bachelors degree in psychology and help you get to the root of your money problems. She has been featured on Fox Business, Yahoo! Finance, USA TODAY, MSN, CNBC, NerdWallet, and many others.

• CEO Hack: Hiring people that are better than I am
• CEO Nugget: Stop trying to do it all on your own
• CEO Defined: Taking charge and being a leader of your business

Website: https://www.budgetsmadeeasy.com/

Facebook: https://web.facebook.com/budgetsmadeeasy?_rdc=1&_rdr
Twitter: https://twitter.com/budgetsmadeeasy
Instagram: https://www.instagram.com/budgetsmadeeasy/?hl=en

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Transcription:

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Intro 0:02

Do you want to learn effective ways to build relationships, generate sales, and grow your business from successful entrepreneurs, startups, and CEOs without listening to a long, long, long interview? If so, you've come to the right place. Gresham Harkless values your time and is ready to share with you precisely the information you're in search of. This is the I AM CEO Podcast.

Gresham Harkless 0:30

Hello. This is Gresh from the I AM CEO podcast and I have a very special guest on the show today. I've Ashley Patrick of Budgets Made Easy. Ashley, it's awesome to have you on the show.

Ashley Patrick 0:39

Hi, thanks for having me. Glad to be here.

Gresham Harkless 0:42

No problem. Super excited to have you on and what I wanted to do was just read a little bit more about Ashley so you can hear about all the awesome things that she's doing. Ashley is a personal finance expert, and founder of Budgets Made Easy. She helps families eliminate debt using simple strategies so they can stress less and live the life they want. She was able to pay off $45,000 in just 17 months including $25,000 in student loans in just 10 months.

Ashley is a Ramsey Solutions Master Financial Coach and helps people like you manage their budgets so they can live the life they want. She also has a bachelor's degree in psychology and helps you get to the root of your money problems. She has been featured on Fox Business, Yahoo! Finance, USA TODAY, MSN, CNBC, NerdWallet, and many others. Ashley, are you ready to speak to the I AM CEO community?

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Ashley Patrick 1:30

I am.

Gresham Harkless 1:32

Awesome. Super excited to have you on the show. I just wanted to kick everything off by hearing a little bit more about what I call your CEO story when I hear about what led you to start your business.

Ashley Patrick 1:41

I started my business after we paid off our debt. I was a police officer and a detective for 10 years at a local smaller agency outside of Charlotte. Once people started seeing that I was actually debt-free. When I was paying off the debt? I would get comments like, well, what if you die tomorrow and things like that, Quit acting like you're destitute but once they saw I was successful and paid off the day, everybody started asking me the same questions. Just a couple of months later, I came across a blogging income report. I was like, Oh, well, I could start a blog. I'm getting the same questions over and over.

So maybe I could make some money helping other people do the same thing. That's really how I started it. Then shortly after I got pregnant with my third child, so it was slow going. But once I had him, I was able to stay at home, quit my stressful job, and build my business because we were debt-free. If I hadn't paid off that debt, I would still be stuck in a stressful job that I was just really burnt out on and not able to build my business like I wanted to. It really gave me being debt free gave me the freedom to build my business and focus on it more.

Gresham Harkless 2:56

Yeah, that makes so much sense. I think a lot of times, I don't know, if you've definitely heard this as well from people that heard your story and want to be able to aspire to do that as a lot of times, you don't think something is ever going to be able to happen. It's not realistic until you hear somebody that does it. Then not only are you excited about it you are energised, you want to know the nuts and bolts of how exactly they made it happen.

Ashley Patrick 3:16

Oh, absolutely. When I was paying off debt, I would lay awake at night and just read debt payoff stories I would and I would read some of the same, same ones. But it's like it helped motivate me. That's what I really wanted to do with my blog and so I share lots of debt payoff stories as well. So yeah, just being able to see other people do it just shows that you can do it. For most people, that really helps motivate them to just keep going so that they can see that it is possible.

Gresham Harkless 3:45

Yeah, absolutely kind of grease that energy. Once you have the energy around you have that environment, then you start to take those small actions, which sometimes we gloss over to actually make sure that happens.

Ashley Patrick 3:55

Absolutely.

Gresham Harkless 3:56

Awesome. I know you touched a little bit about what you have on your blog, could you take us through Budgets Made Easy, like how exactly and what exactly you're doing to support the clients that you work with?

Ashley Patrick 4:06

So my ultimate goal is for people to pay off their debt and in order to do that, you really have to manage your budget. That's why I kind of focus on Budgets Made Easy, it's the foundation for everything else that you do. My goal is for you to pay off debt, but to do that you need to manage your money better with a budget, and maybe save money I do talk about saving money, but I'm not an extremely frugal person. Like if I have the money and it saves me time to pay a little bit more for something I will so I'm not like a total cheapskate. But when I was paying off debt, I was like I cut especially there towards the end like I cut everything that I possibly could like.

I always tell the story that like I think it was we were one month out and my husband's like when we're debt free. Can we buy shaving cream again like that? So I did when I was paying off debt, I did cut some things, but like, generally speaking, I'm not like super, I'm not an extreme couponer I'm not super frugal, but it's all about prioritizing your money and you're time to get to your, your short term goal for your long term goal. Paying off debt is a short-term goal so that you can reach your long-term goals of like me quitting your job, if that's what you want, staying at home with your kids retiring someday paying for your kid's college going, I paid for Disney, we went to Disney the next year all paid for in cash before we even went. It's really like sacrificing now for what you want later.

You can build long-term wealth and just live the life that you want. I've also started the Money Mindset podcast. That really helps people. So doing your budget is one thing sticking to it, and following through with it is a whole nother thing. So as I have grown my business, I've come to realize that I need to help more with the mindset of spending, like people, it's kind of like, I always think of it like losing weight, like you should eat right, and you should lose weight. But it's a whole nother thing to actually do it. A lot of that is just your mindset and working on that.

That's what I've been really focusing on here. For the last several months I have been trying to help people change their mindset around money so that they can make long-term changes and improvements in their habits so that they can get to where they want to be.

Gresham Harkless 6:34

Yeah, I absolutely love that. I love how you do that in different ways with the podcast, the blog, and everything that you have going on because I think a lot of times the same is the quickest way to eat an elephant one bite at a time. I think when you look at your debt, sometimes you look at it as that elephant, you have no idea how to do it. But yeah, understanding step by step, okay, the first thing I want to do is start with a budget, but also be aware of this mindset aspect, because I might have some type of association. I don't know if you would say this, but I feel like we probably all have some type of association with money. Understanding what that is and how to work towards that or trying to fix or work on that is something that we definitely need to do.

Ashley Patrick 7:13

Absolutely. What I've I've found as well as couples. So like, we each have our own individual mindset and how we think about money based on how we were raised and things like that. Then you may have your spouse, or significant other who may have a completely different mindset and so you guys really have to identify your individual mindsets, and then come together as a couple and work together and compromise like nobody can be 100% right or wrong. You kind of have to work together. So that's kind of part of focusing on the mindset as well.

Gresham Harkless 7:47

Yeah, absolutely. I think that's definitely a huge thing because we sometimes undervalue or under, I guess, attributes like how important the mindset is, and a lot of the things that we're trying to do and achieve in our lives. I was going to ask you for what I call your secret sauce. I didn't know if that mindset piece was part of your secret sauce, what is the thing that you feel kind of sets you apart and makes you unique?

Ashley Patrick 8:09

Yeah, I'd say the mindset and then just a lot. Well, my followers say, it's just like my personality and helping people. I want to help you as much as you will help yourself, like, I can't do it for you. But if you're willing to put in the effort, and do the work, I will help you as much as I can along the way. I'm very encouraging. And I help people through the process, because it can feel kind of lonely, like if you're not surrounded with like-minded people, and our society is so debt is so normal, that even when I was paying off debt, we were like, You're crazy. Like, why are you paying off debt? When you can surround yourself with other people who are rooting for you, you'll be more successful. So that's kind of what I tried to do to help people.

Gresham Harkless 8:59

Yeah, absolutely. I appreciate you doing that. Because a lot of times to try to find like-minded people, as you said a lot of times you'll hear that, Oh, what if you die tomorrow, so you should be spending all your money now. But just kind of having that different mindset, a lot of times, we may not be able to find that around our family friend group. You might have to look to different resources like yourself, like your podcasts and everything you have going on. Have you built to find that kind of environment?

Ashley Patrick 9:25

Absolutely. Facebook groups are great and then Instagram, certain hashtags are really great as well, just so that you can kind of be around and have that encouragement from other people going through the same things that you are.

Gresham Harkless 9:40

Absolutely. I love it. I wanted to switch gears a little bit and I want to ask you for what I call a CEO hack. So this could be an app, a book, or a habit that you have, well, what's something that makes you more effective and efficient?

Ashley Patrick 9:54

Well, I will say that I am a procrastinator, so I put off doing things. So some of the things that I've done this year that have really helped me further my business is hiring people who are better at that than I am. I just pay people to do the things that I just don't want to do. But another thing, a lot of people encourage you to do this to be more effective. I have found that it did. Gosh, I can't talk right now, it just helps me stay on task because I am such a procrastinator.

If I don't know, like, specifically what I need to do today, I'll just like look at Facebook, and I'm on Instagram, not really like doing anything. I don't know if you can see this here. So it's kind of like your big three. So like three things that you need to do for the week. Then you break that down, and I have daily sheets as well. Like, pick three things that you need to get done to further your long-term goals. Then some things that you should do or would like to do like if you have time, so that has really helped me focus and stay on track a little bit more is making like a top three list for each day or the week. That has helped me.

Gresham Harkless 11:11

Yeah, I love that. So now I wanted to ask you for what I call your CEO nugget. This is a word of wisdom or a piece of advice. Or if you could happen to be a time machine, what would you tell your younger business?

Ashley Patrick 11:21

So oh my gosh, I would tell myself to stop trying to figure it out on my own and spend some money to do it quicker, faster, easier. I love it.

Gresham Harkless 11:34

Now I want to ask you my absolute favorite question, which is the definition of what it means to be a CEO and we're hoping to have different, quote-unquote, CEOs on this show. So Ashley, what does being a CEO mean to you?

Ashley Patrick 11:43

Being a business owner is taking charge and being the leader of your business, because if you want to make money with a blog, people say, Well, I'm just a blogger, no, you're a business owner, and you're the CEO of that business. So, calling yourself that and that's what I love about your podcast is you own it, own that you're a CEO, and run your blog as a business, like you are the CEO.

Gresham Harkless 12:08

Absolutely. As we've talked about before saying it and making sure it's in your mindset is a huge thing. So own it, and make sure you do all the action steps before that. But a lot of times you have to have that mentality, you have to say it in order for that to happen. Truly appreciate that definition and truly appreciate your time even more, what I wanted to do is pass you the mic, so to speak, just to see if there's anything additional, you want to let our readers and listeners know. Then of course, how best they can get a hold of you. Subscribe to the podcast, to find out about all the awesome things you're working on.

Ashley Patrick 12:37

Yeah, so if you want to build a business take the initiative, invest in yourself, invest in your business, and you'll get there a lot faster. If you want to pay off debt, that's what I do as well. You can find me at budgetsmadeeasy.com or the Money Mindset podcast, wherever you're listening to this podcast. Just take it one step at a time, stay focused, and know that there will be setbacks, whether it's with running a business or paying off debt. But if you can mentally prepare yourself for those setbacks, know that there's still so much room to grow on the other side, and you can't have success without failure.

Just know that it'll be okay and just keep going. Success is inevitable. Actually, I have it on my dry-erase board back there to remind myself like when something just doesn't work out the way I want it to. I think, oh, this can be such a good idea and it falls flat. I just have to remind myself to keep going, that it will happen. Eventually. It just takes time and learning. It's a learning process. Whether you're paying off debt or building a business. You just have to keep going just don't stop.

Gresham Harkless 13:47

Absolutely, yes. I truly appreciate that. We will have the links and information in the show notes so that everybody can follow up with you as well. But absolutely you can't have success without failure. Success is inevitable. Once you have that mindset, you understand that it's not going to be easy. Success is not a straight path. There's a windy road, and there are some potholes definitely. But as long as you're prepared for that mentally as you said then that helps ensure the likelihood of being successful.

Ashley Patrick 14:12

Absolutely. Thanks so much for having me.

Gresham Harkless 14:14

No problem. Appreciate you and I hope you have a phenomenal rest of the day.

Outro 14:17

Thank you for listening to the I AM CEO Podcast powered by Blue 16 Media. Tune in next time and visit us at iamceo.co I AM CEO is not just a phrase, it's a community. Be sure to follow us on social media and subscribe to our podcast on iTunes Google Play and everywhere you listen to podcasts, SUBSCRIBE, and leave us a five-star rating grab CEO gear at www.ceogear.co. This has been the I AM CEO Podcast with Gresham Harkless. Thank you for listening.

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