This week I'm sitting back down behind the mic for another soloshow and we're talking all about my love for budgeting (that's sarcasm, folks) and how I have 7 savings accounts. You might think I'm crazy insane, but no, having multiple savings accounts actually helps me save hundreds and sometimes thousands of dollars a month. And I'm going to show you how you can adopt my easy budgeting and saving strategy. [Get all the good stuff over on the show notes here.]
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.
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...
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.
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.
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.
Denise Duffield-Thomas is the money mindset mentor for the new wave of online female entrepreneurs. Denise helps women release their fear of money, set premium prices for their services and take back control over their finances. In our interview, Denise shares her experience with manifesting money and being a lucky bitch. She walks us through how we can overcome some of our money blocks, feel worthy of making the money we do and asking for more money, and how you can give yourself permission to be rich. Denise is an author, speaker and amazing business woman. Find her at LuckyBitch.com and check out her best-selling books, "Lucky Bitch" and "Get Rich, Lucky Bitch"
LaTisha is a nationally recognized millennial personal finance expert and blogs over at YoungFinances.com. Through her coaching programs and signature Financial Success Toolkit, LaTisha motivates young professionals and emerging entrepreneurs helping them to budget, invest, and achieve success. In this episode, I ask LaTisha to share her debt story with us, when she realized she was making decisions based on the debt she was carrying, and how she managed to budget her life so she could pay off more than 30,000 dollars in consumer debt in 3 years, plus a ton more.
Read more here
This week I'm sitting down with Katie Waters, Certified Financial Planner, Advisor, and Owner of Stable Waters Financial, a comprehensive financial planning firm. Katie is passionate about helping individuals with cash flow issues. That's the basics of their budgets, making sure they have enough money to pay off their debt, pay for their day-to-day life, and save for their goals. Then she dives into insurance and investments. This week, I leverage Katie's expertise to help us understand what insurance is appropriate to have at this time in our lives. With Katie's expertise, I created a cheat sheet you can refer to and modify for your life-stage scenario. See the button, below. Katie offers great insight into our insurance coverage and specific tips for some of our policies.
Covered in the interview:
This week we're talking about the basics you need to know regarding your 401(k). I'm trying my best to get through the 4-Part 401(k) series published over on the blog, and explaining everything down to, "what is an asset allocation?" and "should I put money towards retirement or debt?" We're nailing all of that down here in this #soloshow on the pod. (Go here for the cheatsheet)
Bonus: What 23 Financial Experts wish they knew about Investing in their 20s(many have to do with their 401k)
This is the second half of the Words and Money interview with Jen Turrell, a personal finance trainer helping women business owners gain control of their finances. In this episode we talk about what you need to know when going into business for yourself, the profit and operating expenses of our personal lives (get your Profit First for your Personal Life handout), and everything from paying off debt, paying taxes and interest, and of course, kinky handcuffs.
We chat about:
Resources:
Danethadoe.com – free resources for picking accounting software for self employed/online entrepreneur’s and small business owners – talk to a CPA about your taxes
Books:
Profit First – Mike Michalowicz
The Toilet Paper Entrepreneur – Mike Michalowicz
I Will Teach You To Be Rich – Ramit Sethi
Organizations:
DailyWorth.com – Amanda Steinberg
Ready For Zero – Debt repayment app
Mastering Money Matters – Jen’s Group
Financial Fluency Podcast – Subscribe to listen to Jen’s episodes and interviews!
Jen is a personal property coach helping women entrepreneurs and self-employed women take control of their finances over at JenTurrell.com, but I like to call Jen my rockstar inspired financial comrade. This is Part 1 with my interview with Jen and we get deep with topics like divorce, domestic violence when it comes to money, women’s role in history with money, and discrimination against women in the workplace. There is so much depth here and I am so thankful to have someone like Jen come on the show to share her view and have an open discussion about it!
What We Talk About:
-How her record label and special needs financing helped her succeed in the entrepreneurial world
-Transition to working with women entrepreneurs on their own personal finance
-How being in a punk rock band taught her responsible and straightforward money strategies
-What Jen learned about money growing up
-We dive into the history of women’s roles with money (which was really nothing)
-Domestic violence and how that links to women’s own financial autonomy. Jen’s interview with Lindsay Fischer.
-Jen’s Podcast: Financial Fluency: Speaking the Language of Money
-The future of women in the workplace and discrimination in work and pay
-What you would have to pay to cover all the different roles the average housewife plays
-The difference between men and women when it comes to money
“I started my record label straight out of college…. So I at least had a side business as well as having some jobs over the years.” – 5:52
“With women and money: A lot of us carry guilt and shame over things that have happened in the past, and want help figuring it out but not condescension or judgement.” – 6:38
“I often existed by paying my rent with gig money.” – 9:25
“I saw a similar pattern with my mother… which was just that men were in charge of money, and I didn’t really like that in terms of thinking forward to my future and marriage.” – 12:55
“I would love for all women to always feel like they can leave any situation even if it’s uncomfortable.” – 15:33
“I feel like having financial independence gives us more choices, it gives us more power over our own lives.” – 16:06
“It’s discrimination when women are paid less, and when women are put in a position where, in order to live a full feminine experience of their lives which may include having children, to be punished to have that mommy penalty.” -20:31
Resources:
Subscribe to Jen’s Podcast on iTunes!
@JTurrell – Twitter
This week on the 'pod' I'm sitting down with Michelle Bobrow and picking her brain about all things money. Michelle is the founder and personal finance strategist behind The Holistic Wallet, a place on the web that will help you set a financial foundation, and provides creative and casual guidance to reign in control of your spending, overcome your mental money blocks, and optimize your cash flow.
Welcome to The Words + Money Podcast!
I'm so excited about this new venture and can't wait to bring something great to you, each week from here on out. Episode number one is a mini episode and features me, your host!