Nick and Hanna True are a young couple who leveraged their money to live their best (alternative) life. First, they had to get on the same page. They join Jillian to discuss managing money as a couple and how to find work you love.
More About Nick And Hanna True:
The True’s live and work in their Airstream with four pets. Nick was once an engineer and Hanna a physical therapist. Nick transitioned his career first into freelancing and growing the blog Mapped Out Money, which as also grown into a podcast by the same name.
Soon they were able to ditch the apartment life and the physical therapist income to start full-time RV living. Mapped Out Money now provides concise and thoughtful content on a variety of platforms including YouTube and Alexa. They have created a Money Mastery Class and aim to help people not feel so stressed out about money.
- Balancing two money mindsets in a relationship
- Getting on the same page with a budget through a shared goal
- The budget tool that works for Nick and Hanna
- Choosing to live alternatively comes with major challenges
- Becoming comfortable as an entrepreneur takes time and failure
- How to not care what people think
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Nick And Hanna’s Money Mentalities
Both Nick and Hanna entered their marriage with very different money mindsets. A normal occurrence for couples. These money mindsets stem from childhood experience and create a hurdle to jump.
Hanna’s family has been avid Dave Ramsey listeners. She was able to see her parents make wise financial decisions.
This background influenced her financial choices later on. She never took out a car loan and was conscious of big financial decisions. Hanna admits she is not perfect and she liked to spend spontaneously on smaller purchases and shopping trips. She also didn’t know how to budget because this wasn’t a topic discussed openly within her family. These spending habits were a point of contention in the marriage early on.
Nick’s family didn’t talk much about budgeting either. Nick’s dad owned his own business and had a strong focus on hard work. Their belief was that hard work could lead to making money, and that money would lead to living a life you want. Nick attributes this hard work mentally with his intense personal finance studies in high-school.
He began reading all he could about budgeting, investing, and personal finance at a young age and brought this into the marriage.
Both Hanna and Nick brought different money mentalities to the table. Combining this into one spending plan took some trial and error to find a system that worked. Compromise and conversation helped them get it together financially.
A Dog Was The Catalyst To Find A Budget That Worked
Initially, their budget was with Quicken. This was only accessible on Nick’s computer, making it hard for Hanna to be clear about where they were at each month with money. This wasn’t working at all, especially when Hanna worked in another state for eight weeks at a time.
What really brought them to the same page was budgeting for a dog. This was something they both desired but had put off. This common goal was the catalyst for finding a new budget they both could use.
YNAB To The Rescue
The tool that works for Nick and Hanna is You Need A Budget (YNAB). YNAB is accessible and customizable. It has allowed them to do two important things:
- Plan for the long term financially
- Prioritize money for immediate needs
Ever since we got on YNAB a few years ago, it’s been a total game-changer. – Nick
Every couple needs to find a system that works for them. You might have to try more than one. It’ll be worth it to have your conversations around money stay productive.
Chasing Dreams Can Be Messy
Once Nick and Hanna were on the same page with their budget and found a tool that worked, they started to pursue travel.
Like most people, we wanted to start traveling for all the Instagram worthy reasons that you think of. Pretty quickly we realized that was not going to be the real-life version of traveling in an AirStream. – Hanna
The very first day on the road presented problems. Between broken parts, no internet, a toilet explosion, and sick cats, the life of full-time RV living was proving to be not so glamorous. It was a full month before everything settled into place and they were able to find a rhythm with Airstream life. Nick says that a budget and a financial plan for the things that went wrong is how they got through this transition.
It’s Ok To Fail
Nick and Hanna took major risks. It’s scary, especially when you have the possibility of failure.
Getting ok with the fact that it is ok to fail. – Hanna
Questions like ‘What if I’m not as good at this, as I thought I could be?’ crossed their minds all the time. It can be a crippling question. But they both battled through and transitioned to entrepreneurship. It was a slow process, especially for Hanna, who had to give herself permission to fail.
The biggest part has been giving myself permission to not be the absolute best at it. And to be ok with the fact that I might do something and look back at it a week later and go ‘Oh my gosh, I can’t believe I made that. It looks horrible’. -Hanna
It was important for them to recognize their failures as progress. Learning is in the struggle.
Nick and Hanna continue to learn and grow Mapped Out Money. To support each other, they reviewed their top 5 strengths. Each of them chose to believe in the other partners’ strengths. This support was key in their success working together as entrepreneurs.
What Other People Think
By choosing to live an alternative life, some people don’t get what they do. Nick and Hanna have experienced this many times.
We are going to live a life that aligns with the values and the vision that we have. We’re here for the people who get it. -Hanna
Living a life aligned with your values does open you up to criticism. Nick and Hanna both believe you don’t need to dwell on it. At the end of the day, most people aren’t sitting at home thinking about your choices.
When I look at people I really admire. I don’t think they need a specific career or certain spending habits to validate them. There is always something else I am admiring about them.- Hanna
Nick and Hanna sit down and define their success criteria on a regular basis. That acts as their guidepost. When feelings come up about keeping up with others, they can redirect to this guide.
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