NoBS Wealth
Welcome to the NoBS Wealth Podcast—where we ditch the BS, cut through the noise, and get real about what it takes to build wealth, especially for women, minority business owners, and those standing on the edge of their financial journey, ready to take that first bold step.
We’re not here to sugarcoat it. I’m Stoy Hall, your host and Certified Financial Planner, and I’m bringing you conversations that go beyond the spreadsheets. We're talking about the emotional, psychological, and real-life challenges of money—and how to crush them.
Why You Should Tune In:
- No Fluff. Just Actionable Advice: You don’t have time for complicated, jargon-filled nonsense, and I don’t have the patience to give it to you. Here, we’re breaking down strategies you can actually use—whether you're managing cash flow in your business or figuring out how to start investing without feeling overwhelmed.
- Your Money, Your Mindset: If you think the key to wealth is just about saving and investing, you’re missing half the game. We’ll tackle the inner work—overcoming financial fear, breaking generational money cycles, and adopting a winning mindset to keep you in the game long-term.
- Real Stories You’ll Relate To: We’re bringing on guests with stories like yours. Women and minority business owners who’ve been where you are, taken the risks, and come out on top. No “overnight success” garbage—just honest journeys filled with ups, downs, and everything in between.
Who This Podcast Is For:
If you’ve ever thought:
- “I want to build wealth, but I don’t know where to start.”
- “I’m ready to grow my business, but I need guidance on the financial side.”
- “I don’t come from money, and it feels like I’m playing catch-up.”
Then congratulations—you’re exactly who this podcast was designed for.
What You’ll Get Out of It:
- Breaking the Fear: We’ll help you face that first step head-on and show you that building wealth isn’t just for the rich or privileged—it’s for you.
- Alternative Wealth Strategies: From real estate to investing in your business, we’ll explore nontraditional ways to grow your money without drowning in “just invest in the S&P 500” advice.
- Practical Tools: Whether it’s tax hacks, cash flow management, or scaling your business, we give you the tools to act, not just dream.
It’s time to bet on yourself. Tune in, get inspired, and most importantly—take action. The life you want? It’s within reach.
Visit nobswealth.com to catch our latest episodes and join the NoBS movement.
And yeah, we get a little explicit around here. You’ve been warned.
NoBS Wealth
Why Most Budgets Fail & How to Fix Yours | Let's Get Real Ep. 8
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That sick, vile feeling just hit your stomach, didn't it? BUDGETING. Yeah, I said it.
While 68% of Americans are running blind without a detailed budget and 60% couldn't handle a $1000 emergency without spiraling into debt, you're about to discover why the most successful companies in the world embrace this "scary" word – and why you should too.
No bullshit, no sugar-coating. Just the unfiltered truth about why your relationship with money is f*cked and how to fix it. I'm talking real strategies to identify where your cash is actually bringing you joy versus where it's being wasted on shit you don't need.
Stop letting financial anxiety give you the "ibba gibbals" (as my kid calls them) and start taking control like the 70% of budgeters who actually feel in command of their financial future.
This isn't your financial advisor's restrictive budget talk. This is about aligning your spending with what genuinely lights you up.
Listen now, or keep avoiding the conversation that's keeping you broke.
🔗 Watch full video: https://youtu.be/yAZVT4JCfSs 🔗 More unfiltered wealth: nobswealth.com
As always we ask you to comment, DM, whatever it takes to have a conversation to help you take the next step in your journey, reach out on any platform!
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DISCLOSURE: Awards and rankings by third parties are not indicative of future performance or client investment success. Past performance does not guarantee future results. All investment strategies carry profit/loss potential and cannot eliminate investment risks. Information discussed may not reflect current positions/recommendations. While believed accurate, Black Mammoth does not guarantee information accuracy. This broadcast is not a solicitation for securities transactions or personalized investment advice. Tax/estate planning information is general - consult professionals for specific situations. Full disclosures at www.blackmammoth.com.
I'm gonna lose majority of you with the next set of words that I'm going to say budgeting. I see it that budgeting word you just got that like sick vial feeling in your stomach. You're like, oh, I don't want to talk about budgeting. So you've already probably moved on and clicked off, but if you are still here with me, let's go through the misnomer of how scary budgeting can be and what we can do to be better about it. But ultimately, you're not gonna get anywhere with your wealth journey if you don't understand. Budgeting. I wanna give you a little background about budgeting. Budgeting we have spoken about for eons, right? I started this industry in the insurance industry and we were told, don't use the word budgeting. Use the word spending plan. Let's make it softer approach for people to discuss. Funny thing is companies use budgeting, budgeting, forecasting. They've always used the term budgeting. So we've got the, the richest companies that are the most successful in the world using, using the term, meeting about it monthly. Quarterly, annually, et cetera. But personally, we should be afraid of the word. And so the media has always pushed that out. Let's focus on spending plan. Let's get away from the word budgeting. It's restrictive, it's constrictive, it's told us not to do anything. I'm here to tell you, use the word budgeting and we'll tell you exactly how to do it correctly. But first, let's hit up some stats. Did you know that only 32% of Americans actually have a detailed budget? 32%. That is a third of us that actually have a detailed budget. The stat doesn't even tell you if they actually use it or not. They just said that they actually have one crazy to think about. Another stat we discuss all the time, and you pop up every now and again on the newsfeed, is that 60% of Americans could not pay. For some type of an emergency that cost a thousand dollars. They could not do it without dipping in credit cards, going into debt otherwise, or asking friends or family for it. Now, with those two stats, are you one of them? I. Does that make you feel comfortable or does it give you the jeebies or, like our son, uh, Croy, the youngest of us, uh, for us, he, he calls'em the Ibb Gibbs, not the Jeebies, the IBB Gibbs. It's a hilarious, cute little thing. So if you're feeling like that, you got the IBB jiggles. Let's work on that because 70% of us that actually have a budget, so 32% have one. 70% of those actually feel like they're in control of their money and they know where they're going and they have a path. So let's work on that first. What is something I can do to be, to do budgeting? One, you gotta get over that term, right? You gotta move past that. It is not restrictive. It's not judging you, it's not comparing you to others. It's just what it is in your life legitimately is what it is. How do we control it? How do we get a better understanding? I first and foremost, and we'll tell everyone this, always get to know who you are first. Understand what you're passionate about, what brings you joy the most, what brings you the most joy? Then we can develop your budget. So I take everyone through this exercise and you can have this exercise tool for free. We will work on this somewhere down the line, but at least you can hear from me right now. And that is to go back to the last 12 statements of your bank account and your credit card. Go ahead and highlight all of the things that brought you joy. Pick your color too. If it's green, cool, yellow, pink, purple. I don't care. Highlight all the things that you purchased money on and spent money on that brought you joy. Yes. You know what's next? Go ahead and highlight all the ones that did not bring you joy that you thought was a waste of money. Okay? You're gonna have really three sections. You're gonna have the ones that bring you joy, ones that you think were a waste of money, and then kind of the middle ground, just everyday things that have to happen, right? That's okay. I only want you to do the, the best, the things that bring you joy. And the things that you thought you legitimately wasted money on, and I want you to total those up. So you've totaled those up for the 12 months. Now, tell me if you spent more money on things that brought you joy than you did, things that didn't, majority of us won't be able to say that. What we're gonna be able to say is, Hey, I did spend a lot of money on shit I didn't need or didn't want, or don't feel good about it anymore. What if we just took 10, 20, 30, 40, 50% of the money that we wasted and turned it into something that we. Wanna spend money on that's more joyful or save for things that are more joyful. Use that exercise. That's your first and foremost exercise that you need to do and you need to accomplish. The second one is you should be having monthly financial meetings with your family or yourself to review not only. Your budget, what you were allocated for. Uh, but two, where are we? How do we feel? What are we working towards? The conversations around money are so lacking in this country, which cause us to have this weird, gut, terrible feeling around it. But if we talk about it more, it becomes easier, becomes part of us. It becomes part of our lifestyle. Third may or may not be the most important for you, is now that we've understood where we are with Joy, we've understood that hey, we need to meet more often about it and discuss with others about it. Third is now taking that and putting it as part of your lifestyle to reach your goals. Right? What if that's saving for retirement? Yeah. I know. Big word. A lot of us are young. Retirement's not a thing, right? Blah, blah, blah. But putting money away in certain buckets that allow us to achieve the goals that we want, that's what you need to do now, ultimately, what helps the budget the most? Anybody I. Anybody? Yeah. Duh. More income. More income will help your budget out. I don't care who you are, you can cut as much expenses as you want, uh, but if you don't make more money, you're not gonna go anywhere. So we also need to focus on making sure you know your value, asking for what you are worth, working hard to bring in the income while we achieve the expenses that align with our joyful spending. Therefore, we have this complete. Budget. Guess what? Budgets also are, they're just an average folks. It's not like every month you have to be like, oh shit, I only could spend one more dollar on food. And it's the 20th. No, it's the average. You want to stick as close to the average as possible. Some months we'll be up. Some months we'll be down, but ultimately at the end of the year, we want to hit those budget numbers. So don't be afraid to go over this month. Or go under this month and say, oh, I have to spend this to get up there. Don't do that. It's just an average that we talk about. We wanna stay within our lane, and that is the only thing that budgeting really needs to be about. On the next episode of, let's Get Real. What attaches to budgeting is our debt. Good debt, bad debt, shit bed. Whatever debt you want is gonna be in there. We're gonna discuss that, but we encourage you to always comment, light, share, do all of the shit that helps us from an algorithm perspective. Help us bring more content to you. What do you want to know? What do you want my unhinged self to talk about? And ultimately, we're gonna be real with it. So let's get real.
