This week on Words and Money I’m talking to Sarah Li Cain, a teacher currently located in China, turned freelance writer and personal finance blogger. Sarah writes over athighfivingdollars.com and shares her stories about personal finance, but dives deeper into the psychology and meaning behind why we spend our money, how we can feel good about our money decisions, and love our money like we mean it.

WHAT WE TALK ABOUT:

• Sarah's "Money Story"

• Dealing with resentment and shame when paying off debt she racked up with an ex-boyfriend

• Why Sarah treats her money like her best friend

• Sarah introduces HighFivingDollars.com and shares what she's observed with other's money spending decisions.

• Sarah helps us learn how to celebrate our money choices...

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Hilary Hendershott is a Certified Financial Planner focused on financial coaching, money mindset tools, and wealth management for women. She is also the host of the new podcast, Profit Boss Radio, a show highlighting inspiring women who have created success in their financial and professional lives. 

What we talk about:

• How Hilary got interested in Finance and helping women with finance in particular
• Hilary’s biggest influence of money growing up
• Understanding your core beliefs around money – Listen to Hilary’s TedXTalk
• The importance of retirement – Why should we be thinking about retirement and saving for it now?
• If you build a good investment portfolio, it doubles about every 8 years. Hilary breaks down the Numbers!
• Retirement plan options.
  
  • 401(k) – Tax deferred. Grows tax-free. Pay tax on the way out.
  • IRA – Tax deferred. Grows tax-free. Pay tax on the way out.
  • Roth IRA – Pay tax now. Grows tax-free. Pull it out tax-free.
• Explanation of the different accounts – The rock analogy
  
  • Retirement accounts – Pushing your rock downhill
  • Brokerage Accounts – Pushing your rock on a flat surface
  • Savings Account – Pushing your rock uphill (unless it’s for your “curveball account”)
• Hilary helps us feel better about investing and our options to get started
  
  • Hire an advisor
  • Get a robo-advisor investment option (WorthFM or Betterment)

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Jessica Moorhouse is a fellow personal finance podcaster on the Mo’Money Podcast, seasoned blogger at JessicaMoorhouse.com, and new internet friend of mine. Jessica writes about saving money, frugal living, and integrating more balance into our lives. In this episode we discuss so much from the difference between American and Canadian finance, saving and preparing for the cost of your wedding, (that one thing we tend to underestimate our entire lives) and side hustles - why you should do one and how to find them. Jessica is an open book. She’s so honest in her answers and truly is your best girlfriend that will talk openly to you about money.

HOW WE KEEP THE CONVERSATION ROLLIN':

• The Mo’Money Podcast and the influence of being a personal finance blogger and podcaster
• Differences between American and Canadian Finance
• Wedding Budgets – When to start saving and how to know how much it will cost
• Jessica’s Wedding Unveiled on her blog
• Her Wedding and What it Really Cost Part 1 and Part 2
• Her Wedding Budget: One Year and $16,000 Later
• Throwing a Wedding: The Dos and The Don’ts
• How Much Jessica Has Made In a Decade
• What is holding us back from achieving financial success?
• Side hustles and how you can find one for yourself.
• The Rich & Fit 21-Day Challenge
• Of course, Jessica answers my Quick and Dirty Q&A

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Brittney Castro is the Founder and CEO of Financially Wise Women, a Los Angeles-based fee-only financial planning firm for entrepreneurial and professional women. As a certified financial planner, Brittney has expertise in helping women learn how to build wealth. I took advantage of Brittney’s expertise in this episode and we dove into investing and understanding compound interest.

What we talk about:

• Brittney’s background and how she started Financially Wise Women
• Understanding investing and compound interest
• Getting clear about what you’re investing FOR – Be specific
• Understand risks and expectations, and how to avoid acting irrational with the markets
• The myths and roadblocks of talking to a financial professional
• Not being afraid to ask your financial questions – you’re not supposed to know the answers on your own!
• What holds us back from achieving financial success?

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What you'll hear:

• I present the questions to ask yourself before you make this big-time decision.
• Along with the questions, I walk through the answers you might have, and provide some guidance on your buying decisions based on those answers.
• I encourage you to comment here, send me an email, or start a conversation on Twitter or Instagram if you have questions, comments, suggestions.
• Money and what we do with it is extremely personal and the way you rationalize your spending, saving and investing is subjective. That's why I would love to hear from you! 

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