My intention is to post a Thoughtful Thursday column each week and share some of the insights I have learned in the past week. Here are some of the things I’ve learned this week:

I learned a lot from this podcast! Here are some of the 36 things mentioned on the podcast:

Ask yourself if everything that you are doing in your life is because of what you’re being told to do by society/family/friends or if it’s something you want to do.

• Eat a small salad before a meal to make it more blood-sugar friendly. This slows the absorbance of glucose in your bloodstream.
• Listen to podcasts or watch tv only during a workout to make working out easier.

Clean out your social media feed to include only those that make you feel good or provide value to you. If you follow celebrities that make you want their lifestyles and make you fall into the comparison trap, stop following them out of respect for your mental health.

• While the state of the world can make it scary to have kids, in reality, people have always lived through scary times. Having a child is an act of hope in making a better world, and you’ll get through it.
• Brush your hair before you shower. You’ll distribute the conditioning oils from your scalp and there will be fewer tangles to get out after the shower. Get a wetbrush.

The best way to not be on your phone in bed is to plug it in in another room. If your phone isn’t there, you can’t reach for it.

• You will probably not remember everything you want to for later. Write it down or make a note on your phone or use an app. I currently send text messages to myself when needed and leave them unread for some things I want to remember to do ASAP.
• I learned about the concept of Sound Baths to relax. These are relaxing sounds, that, when combined with headphones, can help with depression and anxiety. The Insight Timer app Sound Baths were recommended in this podcast episode, but you can also find other sounds on YouTube by searching for “sound bath.”

If you don’t put the things that you value most like relationships or self-care on your to-do list or calendar, they’ll get lost in favor of things that you ostensibly value less. It’s easy to put your relationships after everything on your to-do list. Build them into your calendar.

Housing:

• Try downsizing, rent out a room to someone, or live with a roommate.
• Try not to spend more than 30% of your income on housing. Move to a cheaper neighborhood.
• Also consider utility costs and property taxes when making a decision about where to live.

Food:

• Limit how much you are eating out. Be intentional about planning when you are going out to eat. Plan a day and plan it in your budget. It’s okay to decline invites to expensive restaurants with friends or make suggestions for other restaurants if needed.
• Look at your pantry so you aren’t buying things you already have. Not every non-perishable item is a good bulk purchase. Only buy in bulk if you will definitely use the product in time.
• Curbside pickup and delivery help curb impulse shopping.
• Search the internet for recipes to make with ingredients you already have.
• Buy fresh foods and avoid pre-cut pre-packaged fresh produce that has high markups.
• Meal plan and prep. I like to do this one or two days a week, especially on a Sunday, so that I am prepared and don’t have to think about it after work each day.

Entertainment:

• Find free or affordable entertainment. Ex: matinee movies, Groupon, free museums on certain days, etc.
• Look into bundling services.
• If you have cable, make sure you aren’t paying for tiers/channels you don’t need. If you have internet, make sure you aren’t paying for speeds you don’t need.
• Cell phone services often provide options for free entertainment. Library cards also provide free entertainment. Inquire about these benefits at your local library.
• Shop around for car insurance, cell phone plans, and cable/internet rates yearly.

Other tips:

• Take care of your health. Take preventative measures through exercising and eating right. Eating healthy may be more expensive, but your health needs will be less expensive in the long-term.
• Using a cash envelope system with pre-set budgets can create more mindful spending. You can use this for most categories or just those you struggle with most. Ex: groceries, eating out, or entertainment.
• You can only cut back so much. Look at the life skills you have that you can use to generate more income. Don’t be embarrassed to work a part-time job to live the life you want to.

This podcast was particularly interesting to me because I spent about six years working in the creditors’ rights legal industry. Prior to starting in that industry, I HATED talking about finances and tried to avoid it. However, after learning about the struggles people faced and different financial priorities and consequences, such as lawsuits, bank garnishments, and wage garnishments, I became determined to work three jobs and be frugal so that I could pay off my student loan debt early (in 3 years) and save for a wedding, better vehicle, and a downpayment for a house. Since then, it has been my goal to live debt-free as much as I can. Here are my take-aways from this episode:

When receiving collections calls, the top emotions people go through are embarrassment (forgetting about their payment or being seen as irresponsible), anger (co-signing and later regretting it), shame, and guilt. Asking people “Why are you late on your payment?” made the host experience emotions about money and gain empathy.

There are grace periods. Usually only payments that are late 30 days are reported to the credit bureaus. If you are late because of your income, work on fixing that and increasing your income instead of cutting back on expenses. Look into getting an extension or finding a program that can help you if needed. Sometimes people are caught in a repeating cycle that you can’t completely resolve, such as when people roll over car loans when trading in or getting another vehicle.

Your potential for change is limitless. You have the power to change your emotions about finances and meet your financial goals.

Chipotle holds a special place in my heart, as I worked at a very busy Chipotle part-time for three years, I often make Chipotle’s recipes of fajita veggies, cilantro lime rice, and guacamole, and I still consider Chipotle my favorite restaurant!

Steve Ells, the founder of Chipotle, went to culinary school. One day, he visited a taqueria and thought about opening his own taqueria to make enough money to open a fine dining restaurant. He wanted to open in Boulder, Colorado, but he couldn’t find a good location. He visited with a real estate broker and told him about his concept of an open kitchen, grilled meats, and fresh veggies and herbs on an assembly line, and he found an old building at University of Denver for about $80k in 1993 that needed renovations.

Steve wanted to be frugal. Table bases were made with pipes, the service counter was faced with barn metal, and he wanted stainless steel on top of plywood for tables. His idea was to have one restaurant as a cash cow to help support a full-scale restaurant.

He knew from his culinary experiences that he wanted to use chipotle peppers as an ingredient and that’s how he came up with the name Chipotle. He didn’t have recipes. Instead, he used techniques he learned in culinary school and emphasized tasting food after making it. He opened with a handful of people and had some friends work the line.

On opening day, sales were about $240. The turning point was in October 1993, when a restaurant reviewer for the Rocky Mountain news gave a glowing review, stating that “Chipotle is unlike any fast food you’ve had. Everything has depth, character, nuance, and layers of flavor.” This review resulted in a line out the door and ultimately the restaurant ran out of food. Chipotle could not keep up with the demand. Chipotle was profitable within the first few months.

Eventually Chipotle expanded nationwide and created a business plan. At one point, for seven years, McDonald’s owned a majority (92%) of Chipotle, but the businesses cut ties due to different priorities.

In October-November 2015, 52 people got sick with e-coli. Chipotle later developed safety practices such as blanching avocados, lemons, limes, and peppers.

Steve Ells acknowledged that he was lucky to have a father who could invest $85k into his first restaurant and lucky that McDonald’s was willing to invest. He was in the right place at the right time, although he emphasized that his plan failed in a sense because he wanted to be able to have one restaurant and walk away from it. Chipotle instead expanded so much that he didn’t take time off in the first year, and Chipotle now has over 2,600 locations! Steve Ells stepped away from Chipotle in 2020 and is now involved in real estate investments.

I look forward to reading, learning, and sharing more with you soon!