Do you include financial well-being in your wellness plan? If not, today’s episode will inspire you to get started.
Financial wellness is critical for women. When we have our own resources and are able to navigate our own finances, we can have healthier families and relationships. Today’s guest, Bola Sokunbi is a certified financial educator and champion of financial wellness for women.
Bola Sokunbi of Clever Girl Finance Shares How to Invest and the Building Blocks of Financial Wellness for Women
Bola is a finance expert, bestselling author, speaker, and founder of Clever Girl Finance, a financial education platform, and community for women empowering them to achieve financial wellness and live life on their own terms.
Listen to this episode for practical tips on improving financial wellness, how to manage finances with your partner, and how to start investing.
Powered by RedCircle
How to Invest:
- How Bola saved $100,000 in her early twenties as a single woman.
- Rewriting your financial story.
- How to approach money management with your partner.
- Why financial wellness is critical for women.
- Initial steps we can take to start investing.
Resources (contains affiliate links):
- Visit the Clever Girl Finance website for courses, financial education resources, and community.
- Check out Bola’s book Choosing to Prosper: Triumphing Over Adversity, Breaking Out of Comfort Zones, Achieving Your Life and Money Dreams
- Clever Girl Finance: Ditch Debt, Save Money, and Build Real Wealth
- Clever Girl Finance: Learn How Investing Works, Grow Your Money
- Clever Girl Finance: The Side Hustle Guide: Build a Successful Side Hustle and Increase Your Income
- Podcast Episode: Building Financial Wellness with Tonya Rapley of My Fab Finance
- Podcast Episode: Getting Financially Fit with Ornella Yovo
- Open | If you’re looking for a mindful meditation, breath work, and movement app I can’t recommend Open enough. They have a beautifully curated collection of guided meditation, breath work, and movement exercises to support you in your practice. Try Op e n for 30 Days free. Visit open-together.com/BALANCED.
- Visit Framebridge.com and use the code “BALANCED” for 15% off your first order.
- Going Wild | Add Going Wild with Dr. Rae Wynn-Grant to your podcast lineup. You can listen on Apple Podcasts, NPR One, or your favorite listening app.
Episode 156 Transcript
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Thing is I've always had a habit of talking to myself from a young age usually I'm just either thinking out loud or I'm speaking my to do list out loud or I'm speaking ideas out loud.
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But nothing prepared me for how much I talk to myself having a podcast every week starting these episodes off just talking to myself.
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I thought over time it would get less awkward and you.
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Our lives together together the show is all about well-being and self-improvement so you can feel more like yourself and be ready to thrive and you're fully embodied cell.
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Being in financial positions of power is so important whether that is choosing to have your own bank account saving enough money for retirement having open conversations about.
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Bola sokunbi is a Certified Financial education instructor Finance expert
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best-selling author speaker and founder of clever girl finance a financial education platform and Community for women empowering them to Achieve Financial wellness and live life.
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From saving over 100,000 dollars on her own as a single woman in her 20s to bootstrapping clever girl Finance to be a Global Financial education platform.
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She is a wealth of financial knowledge and this episode is like Finance inspiration 101 we're getting into saving investing
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managing money and relationships investing in yourself and so much more so let's get into our conversation with.
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One more thing before we jump into today's episode friend I have a quick favor to ask you.
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So a few weeks ago on the podcast I talked about my recent experience at a retreat I said hey if you're interested in a balanced black girl Retreat let me know and y'all
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most certainly let me know that you would be interested so thank you so much to everyone who commented dm2 messaged emailed I'm so excited to hear that you are interested in the idea.
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So if we're going to move forward with a balanced black over tree I want to make sure that it is a retreat that you want so to get this process started I actually have a survey that I would love for you to fill out the survey is just going to tell me what kind of retreat are you interested in
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when would you want to go on a retreat what does your budget look like so that we can put together an offering that is going to truly be what you need
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when you need it special bonus for everybody who fills out the survey is that once the retreat is up and running we get the information we need everyone who fills out the survey will actually get first dibs on signing up for the retreat.
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And we'll also get special pricing so
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if you are at all interested in coming on a balanced black or Retreat please make sure that you fill out the survey you can find it in the show notes you can find it in my Instagram bio Tick Tock bio anywhere you can find a link for me I will make sure that the survey is there.
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So that you can take it so that we can hear what kind of amazing Retreat you would like to have so thank you in advance for your feedback and I hope that we can take a trip together soon.
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All right let's get into the episode
Bola welcome to balanced black girl I
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I could not think of a better guest to include in our money and abundance series I'm so happy to have you
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I'm so excited to be here to talk with you about all things money life Etc oh my goodness yes absolutely we you have had so many incredible experiences to share related to money business prosperity.
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That I'm just.
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Ecstatic to get it to today so first I would actually love to talk about your new book your fourth book your first three books part of the clever girls series were.
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More kind of tactical Finance focused and with this.
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This book it's entirely different it's a lot more personal it is it's you it's your story it's your experiences.
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What made you want to share those parts of yourself and did you experience any nervousness kind of taking a bit of a turn and sharing so many personal stories.
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Yes so choosing the prosperous my forth
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the book and I described it as a love letter from meet other women like me I come from a somewhat difficult background my parents are first generation everything first generation in grade school high school college the first to be educated and that's just my parents or I have aunts and uncles who are not formally educated and they also come from backgrounds of poverty and I
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I'm a first-generation immigrant and you know I have been able to.
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Leverage the different life experiences I've had as a black woman facing racism facing a challenging background and turn it into something.
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That helps other people through my business clever of finance and the for me was really important for me to create this.
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Resource that I can share with other women like me who may be experiencing what I'm experiencing what I have experienced or can some way relate to my own experiences and tied into their own as a reminder that
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choosing to prospers an intentional choice and you two can keep moving forward regardless of what you have going on with you and so that really was
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the motivation behind sharing the story it was difficult to share because I do talk about some difficult situations in my life and I'm also an introvert by nature but I had to think about
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the greater intention of why I wanted to share my story of why I do what I do in my business why I'm so focused on empowering women of color Financial Wellness because it gives us options
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and so I had to look past myself and get out of my comfort zone and delivered this book as a way of using my voice to support women like me.
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Yes that's that's powerful I love what you just said about.
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Looking outside of yourself and thinking of the people who can also find so much value in hearing your story because the the tactical information.
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Is incredible and when we have tactical information and were able to hear someone's story and hear how they applied it it's like next level that's what makes us believe that we can do it too.
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Exactly exactly and it's for me I find that a lot of other people's experiences that have empowered me that have motivated me that are really memorable to me they've come from people that I can relate with I can identify with in one way or the other based on the
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plans that they have shared and I think sometimes there's a lot of stories we hear out there especially about women about black women but there's not enough right and so it's important that.
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We continue to use our voices through your podcast through my books Etc just to continue to highlight our Journeys and our stories because there's someone out there who needs to hear your.
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Absolutely one of the aspects of your story that I know has gotten a lot of attention over the years was the incredible accomplishment you had of saving a hundred thousand dollars in
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the first three years after college as a single woman which is amazing like to save a hundred thousand dollars you know by your mid-twenties by yourself is.
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Incredible one I would love to talk about how you did that in case some of our listeners are not familiar with that story and two I appreciated how in choosing to prosper you talked a bit about
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out the aftermath of that about some of the things that did happen after you shared that publicly some.
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That you got and so I would I would just love to hear about how you navigated that experience as well yes oh my
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guess quote-unquote claim to fame is nice if you're over a hundred thousand dollars in three and a half years and that was a story that I was quite hesitant to share because I didn't want it to come across like I was showing off or like I was bragging and I remember having a conversation with a friend this was years ago I've no longer in my mid-20s.
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And she said your story is powerful because one of the things that we did on Clairol Finance without be showcased success stories and we still do
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other women who are either on their journey to achieving their goal or had accomplished
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big and she's like you're sharing all these women stories your story should be part of this mix and so I sat down and I wrote out what my saving story was and I had no idea that it was going to take off right so I graduated college
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not having any student loans not because you know my parents are rich involving out of control but because I couldn't qualify for any and it was it was a serious struggle for my mother too.
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You College even though I had a partial scholarship and so I end up
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spending about five and a half years to graduate versus your average for just because of funds and so as soon as I graduated from college and I started making my first salary
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I just wanted to do well even before I got my first job while I was interviewing I was like I graduated college today I did a job tomorrow I started working at CVS at the photo department just to get money and I was getting paid like
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think was eight or nine dollars an hour so I got this first job corporate job
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was making 54,000 dollars before taxes and I just wanted to figure out how to save my money I started learning about
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budgeting about investing about credit about saving about emergency savings and I gradually started putting money together I was frequently in the bookstore to find resources and I was really surprised that I couldn't find any resources that were specific to women or women of color I don't know why at the time but as a young college graduate I wanted to
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read something that specifically related to my experience and I did find one personal finance book and it was the
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New York Times best selling personal finance book for women but it was written by a white man I thought that was interesting yeah but I bought the book anyway it was based on his grandmother's experience but you know I bought the book anyway I read it to shirt to shreds and I was like.
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I wish there was someone like me talking to me in the pages of this book but I learned so much and so every race I got every tiny little race I got.
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I would save it after taxes my fifty four thousand dollars about forty thousand dollars and I lived in the Metro New York City area I stayed at home for six months so I could save money for a down payment
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to put on a small condo so I had a mortgage of about 900 dollars I had a carnal over $300 and I had like basic utilities and I just got really aggressive with saving money I try to eat
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all my meals at work I was the girl that would come into the office and all the executive assistants new mean they hate borders retirement party in conference room 11
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there's there's a there's a baby shower in conference room 7
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and I would just lie around and get the leftover is as an executive meeting at 2:30 stop by they would email me and I will go grab one
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food keep in the fridge they comb I got really aggressive with saving I was contributing to my retirement savings account as soon as I knew my employer offered a match.
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401K match free money I took.
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All I contributed enough to get the entire match I cut down on what was not necessary I started a side hustle is one of the things that really helped me was that I started photography side hustle so after work I would be out taking pictures to editing
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pictures I was working seven days a week editing all day and all night and I was exhausted but it was making me good money and those are the steps I took.
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Look to see if I also saved every race that I got a my job so I lived like I always had that 40,000 dollars and I saved as much of it.
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Possible and it was hard to do because at the time working in New York City I had friends who are working in Investment Banking and this was a time that they were getting.
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Bonuses and I had friends who are making 60 and 70 K on their bonuses were like a hundred or two hundred thousand dollars right wow
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oh my God they they have student loans that they wouldn't pay off they would be at Chanel and Louis Vuitton which I love those Brands I'm and that girl but it was just a challenge right because
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I could either try to keep up with them in that moment and get myself into debt because I wasn't making nearly what they were making or I could focus on my focus and
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just try to save and then on the other side of that go by the things I wanted to buy and so I would get to things like why are you being so cheap I don't want to go out I don't you want to go to the dinner and my cuz in all honesty I can't afford to I need to save money my parents really struggle to get me through college I need to show them that it wasn't a waste of there
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their money it was at the expense of their retirement at the expense of the life the lifestyle they were living at the things that they wanted to afford for themselves that they couldn't because they were
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paying my college tuition so I really had to get that into perspective and there were times that I slipped and I went out and I return the things I.
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But then once I hit that first 10K first 50k a got to 100K I was like wow I'm actually doing this I'm actually doing this it's been worth it so I did share that story and.
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Like I said I was hesitant to share it but the feedback was generally good but there was the other side of things you know of people who just couldn't believe that
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this little black girl was able to save that much money and when you think about it the grand scheme of things a hundred thousand dollars is a lot of money
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but then your average celebrity goes out and buys a hundred thousand dollar watch and we're all helping them on social media but I was getting attacked
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because the Assumption was that I had someone who was sponsoring My Lifestyle right
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I was called a trust fund baby I did a radio interview and they forgot to mute me and they said there's no way you know on the commercial break they were like they had invited me to share my savings tips and the commercial break they forgot to mute the or mute themselves and the conversation was about how
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I call BS on this there's no way she saved that money she had a rich boyfriend these these chicks always like to they don't like to come clean about the true story and then there was a Money Magazine featured that I you know wants to story sort of going viral I was featured in Money Magazine as a two-page spread and in it.
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It said that she was married me I was married in and I lived in New Jersey with my twins and my husband who was a physician.
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And that just became a whole thing or yeah she's a doctor's wife that's why she has you know she's able to save you know she's so privileged forgetting that the article actually said that I saved this coming out of college
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before I was married I think as a single black woman so that was a kind of backlash I.
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What it made me realize that you know the people who are appreciated my story which was most people or the people who I wanted my story to reach right and the people who
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we're looking for faults and trying to attribute My Success to a man or a sugar daddy or my am I supposed to trust fund those are people that we're impressing upon me.
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What they fail to achieve for themselves not because they couldn't because they don't want to because they're so caught up in
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the comparison and the MV and the Judgment that they don't make the time to focus on what they need to do to get what they need to get done so yeah that's in a nutshell along that show with saving story I love that story because it's.
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First of all just an incredible accomplishment and takes an incredible amount of discipline and and focus especially
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at that age and I really appreciate what you said about how the response was generally positive and how the importance of who and inspired and who that story helped is so much more important than the people who are
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projecting and what someone says negatively about that story just says so much more about them.
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About their insecurities and also how they feel about women why when a woman especially a black woman
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achieve something it's automatically attributed to you know a man or something being given to them it just says so much more about their beliefs than it than it does about.
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What you achieved which was an amazing thing
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absolutely and it's something that is I deal with it all the time right I remember trying to raise money for for my business before I decided that I was going to go ahead and bootstrap and I will get questions like what does your husband think about what you're trying to do
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and I even remember.
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When I had saved that hundred thousand dollars I kind of felt like okay I have this money I need some support or some guidance I'm going to go to a financial planners office yeah and I get there and he's asking me where did you get
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are you married and initially I thought that he was asking me because there's trying to.
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Stan he was asking you because he didn't believe that I had saved that money he believed that somebody had given it to me a man had given to me a boyfriend I was so infuriated leaving that that offers I was like I'm gonna figure this out for myself I'm gonna
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who's everyone wrong and I'm going to share what I've done with all my friends and I we could do the same thing to hmm
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yes absolutely and that it actually ended up helping so many more people in the long run and
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I appreciate you sharing that because I think sometimes we can want to be really quiet with our winds out of protection and that can definitely be valid right we fear sometimes that negative response or being a Target and and wanting to protect ourselves
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but I do think if it's something that we're able to do and we're comfortable to do sharing wins like that is so wonderful because you never know who you can help and Inspire yes and
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you know I would even say that sharing our wins is really important for our self-esteem for morale and to tackle the Imposter syndrome that so many of us face I
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definitely face imposter syndrome and the way I get ahead of that imposter syndrome is by I'm reminding myself of all the incredible things that I have.
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That kind of helps to silence it like one that voice in the back of my head is telling me why I can't do something while I'm not good at something why nobody in my family has done something I have to be like wait a minute but I've done.
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Where's my notes in my phone okay I have done yeah XYZ over x y z and you know like in your careers and your finances whatever it is that you have done start to document it so that when you start feeling down and depressed about what
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people are telling you that you can accomplish with that little voice in your head is telling you that you can't do your like know what I'm going to give myself my rose is where's my list this is what I've done and if I had if I can do all these things guess what I can do what you're telling me that I cannot do so
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be quiet yes I love that idea it's like proof of success yes you've already proven yourself to fuel what you're doing next
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So I've been in the wellness space for a really long time kind of how this podcast got started and you know kind of my Segway into the Wellness space was very Fitness oriented so for a long time I was very focused on physical wellness but the longer I'm here the more immature
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more I'm like actually I think.
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Financial Wellness is the most important aspect of Wellness because our financial Wellness impacts so many other areas of our life
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so I would love to talk to you a little bit more about how you define Financial wellness and why Financial Wellness is so important for us as women particularly black women
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yes so you know Financial Wellness is
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peace of mind it's your ability to have options it's your ability to walk away from situations that don't serve you it's your ability to impact change and put your dollar to where it's most meaningful to you it's your ability to give back to your community to ability to build generational wealth Financial Wellness is something that's incredibly important and when you think about
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black women think about women of color we're in this position today we're we're earning more money than our mothers and our grandmother is likely did.
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We are still being impacted by the gender wage gap which means
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you heard a statistic called the time you know women on average earn 20 cents less than their white male counterparts when you break that down by demographic specifically black women are right there on the bottom of that average right we're not are in 20% less or earning something like.
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60 something cents to every dollar fifty something cents.
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And you think back historically to you know why we are in this position where we haven't built a lot of wealth as a demographic.
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A lot of it this systemic right while other people were out there building their worldly assets we were dealing with many other issues they slavery and the segregation and Jim Crow era and just
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you just so many things pal that's a whole another podcast oh yeah whole episode itself exactly and then you think about your traditional household I'm just going to give one example we're talking about a two-parent household you know the dad comes back and.
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There's dinner on the table made by the mom dinner's over the mom of the daughters clear up the dishes of the dad pulls his son's aside to talk about
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business and how his day was and the mom loves her daughter's aside to talk about hold making the recipe from Grandma and everybody has an incredible recipe from their grandmother right and the reason for that was because there continues to be what people deem as a woman and as
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black woman's place and so you think about all of that that has happened
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we in this generation now in the position where we may not necessarily have been passed down generational Financial skills from our mothers or grandmothers not because they didn't want to because they themselves didn't have that skill set
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and now we're in this space we're choosing perhaps not to get married we're choosing to be single mother as many of us are Breadwinners so household earners and we're faced with
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we have to be able to take care of our finances to take care of ourselves and factor in the fact that we live longer and average than men.
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Financial Wellness is incredibly important and we're also this unique position where we have the ability to change The Narrative of what that's so-called women's
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place is by importing key lessons to not just our daughters but also to our sons that we are appears right we are team players nobody is less than the other and so Financial
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Wellness is incredibly important for women for black women
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just so that we can give ourselves peace of mind we can give ourselves options and can start to think about how do we now impart this knowledge generationally right so that we can sort of catch up given all the things that have caused us to fall behind as a demographic and so that's what.
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Pride myself in doing empowering women of color to Achieve Financial Wellness that is my mission because it is so incredibly important and one thing I wanted to add is that you know we talk about financial Waters for women and a lot of women carry a lot of Shame and judgement about the mistakes that they have made with money and I just want to tell you our listeners that
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there's one thing that Studies have shown is that we are incredible with our finances once we have the right knowledge once we have the right insights
00:22:28.713 --> 00:22:33.379
once we know how to decipher all of the noise we are incredible with money and so.
00:22:33.385 --> 00:22:39.996
Whatever mistakes you have made everybody else has made them right there's no shame no judgment the key reflect on what happened.
00:22:40.155 --> 00:22:48.413
Reflect on what went wrong take the lessons throw the rest away and Leverage What you now know to empower you towards your success in the future.
00:22:48.725 --> 00:23:03.582
Thank you so much for adding that I think that's so important because when it comes to financial mistakes we can beat ourselves up so much and I know I have absolutely done that over Financial mistakes I've made.
00:23:03.633 --> 00:23:09.604
And taking them as as lessons as opposed to sources of judgment especially if you
00:23:09.386 --> 00:23:21.587
we're not necessarily raised to have a lot of financial knowledge it's your learning by doing and often times that's where Financial mistakes come from and as opposed to having shame we can focus on not repeating
00:23:21.548 --> 00:23:30.769
exactly and I would love to talk about financial Wellness in regards to relationships because I think that can be really important
00:23:30.604 --> 00:23:45.569
in the book I love that you share the experiences of women in your family your grandmother's your aunt I was especially inspired by your mom's Story I mean I won't I will let people read the book so I will not fully recount the entire story but.
00:23:45.665 --> 00:23:55.084
I love how she saw what was happening to other women how they were experiencing illness divorce abuse.
00:23:55.234 --> 00:24:02.772
We're financially vulnerable and she was basically like no I'm not going to put myself in that position and got her education and created businesses that.
00:24:02.868 --> 00:24:12.053
Ultimately ended up allowing you to get an education right so incredible and for people who are for instance in abusive relationships often the
00:24:11.888 --> 00:24:25.692
biggest obstacle in leaving is finances because of financial abuse so I'd love to talk about ways that we can protect ourselves focus on our financial Wellness so that we have as many options as possible particularly when it comes to.
00:24:25.752 --> 00:24:34.883
Relationships and really making sure that what we're all protected financially yes oh that's a really really good question the Dynamics of.
00:24:35.087 --> 00:24:45.326
Relationships and money can be quite complex right and I got to see that firsthand with my parents my mom got married when she was 19 but i don't his 30s he had a PhD had a high school diploma.
00:24:45.368 --> 00:24:51.897
She had four kids with a stay-at-home mom which meant she relied on my dad for everything right and that was just the standard.
00:24:51.984 --> 00:25:01.512
What was it back then especially for her group of friends and her you know where she was coming from but the challenge.
00:25:01.689 --> 00:25:13.224
That she faced was seeing other people needing to exit relationships and seeing herself wanting to do something career-wise dream wise but not being able to do it because she didn't have finances and
00:25:13.041 --> 00:25:26.133
as an option so like you said she decided that I'm going back to school I'm on my back school in her 30s before kids I went to all my mom's college classes so I have two college degrees my mom's and my but you know
00:25:25.941 --> 00:25:33.344
as women it's really really important that we protect ourselves and this is not because we're expecting the worst
00:25:33.179 --> 00:25:44.263
but just so that we can be prepared we have different reality of what it is when it comes to relationships that one into relationships and then divorce and of those relationships and divorce the top factor is
00:25:44.126 --> 00:25:47.081
financial and so I always tell people
00:25:46.934 --> 00:26:01.584
whether you're a stay-at-home mom whether you are actively contributing to your household income whether you are at the main Breadwinner if you're in a relationship with somebody else in that household you need to be aware of what's happening with the finances right just because you are a stay-at-home mom
00:26:01.482 --> 00:26:09.020
does not mean that you do not have a say in the family finances in fact stay at home moms are the most valuable because while their spouses
00:26:08.972 --> 00:26:15.501
out there working doesn't have time for the finances it's a great opportunity for them to lay out the family budget work on the Family Financial.
00:26:15.552 --> 00:26:25.503
And talk about goals you know set up the accounts you're in a unique position because your home and you may have that free time in addition to everything you do as a stay-at-home mom right because I want to highlight.
00:26:25.599 --> 00:26:35.324
Stay at home moms don't just stay home and watch kids career right and I once did a survey on
00:26:35.114 --> 00:26:42.202
if I was a stay-at-home mom what would make well with the cost of all the services I did in my house be and it came out to a six-figure salary so don't.
00:26:42.253 --> 00:26:53.068
Undervalue yourself if you're listening to this and you're a stay-at-home mom but you're in a position where you can create all these things for your household to pursue your financial goals if you are a working
00:26:53.056 --> 00:27:03.762
partner in your relationship or working mother you still want to be involved because your income is contributing to your household which means that you want to talk about your financial goals which means that you
00:27:03.742 --> 00:27:11.153
you want to discuss how you were spending your money and go over your budget and I personally think it's really important that every woman can.
00:27:11.466 --> 00:27:20.579
Have her own money in the back right I do that and it's not that I'm keeping secrets from my husband he knows that I have my own bank account but it's just basically.
00:27:20.783 --> 00:27:26.277
Knowing that you have a fallback plan if push comes to shove and you need to get the hell out of Dodge
00:27:26.238 --> 00:27:39.339
basically right now a lot of people will tell you oh don't do it there is no transparency you can talk about this you can talk about this with your partner right you can both have a joint account you can both have separate accounts was important that you have your own money and if you're trying to exit.
00:27:39.400 --> 00:27:40.924
00:27:40.804 --> 00:27:54.796
you need to start figuring out it's about creating a strategy you cannot be stuck there right you want to seek outside help if you can but the outside help can only do so much if you do not have the financial backing so this is the time to start opening a p.o. box.
00:27:55.064 --> 00:28:06.148
Right so you can have your mail sent to you separately this is the time to start exploring what kind of housing options are out there for you this is a time to start putting money aside into a
00:28:06.145 --> 00:28:13.530
account so that you can be on your feet you can land on your feet when you exit this relationship you don't want to just sit back and take.
00:28:13.581 --> 00:28:26.637
Abuse and not have a way to get out of it so so so important and so I'm all about women being able to have their own money I'm all about women being able to contribute to their financial household conversations and I do this with my husband right.
00:28:26.679 --> 00:28:33.353
He knows that I have money put aside and we know each other's accounts we know each other's passwords but it's just something that gives me confidence
00:28:33.323 --> 00:28:46.802
at the very Basics you know we have that joint account but I don't have to pick up my phone and call him every single time I want to get my hair done I want to get my nails done okay can I take out $25 no I don't want to do that that's what works for us the other thing I will say is that
00:28:46.710 --> 00:28:50.871
there's a lot of advice out there about relationship and money but it's really important that you.
00:28:50.923 --> 00:28:57.605
What works for you so I've said it works for in my partner I've stated my opinion but you guys understand each other you guys know
00:28:57.512 --> 00:29:02.385
you know maybe it's a fully joint account that works best for you guys and you want to talk about every single transaction.
00:29:02.833 --> 00:29:10.956
You do what works for you and not what everybody else is telling you to do because they're not in your relationship but again to stress if you need to exit in a relationship
00:29:10.917 --> 00:29:22.478
you are in a bad situation or relationship you're in an abusive relationship you just no longer feel that you can be there you need to start creating your own separate plans especially if you feel like you are at risk and unable to leave
00:29:22.440 --> 00:29:23.388
00:29:23.412 --> 00:29:32.831
Getting that pillbox which means seeking outside counseling which means putting money aside quietly which means exploring your house housing options exploring
00:29:32.729 --> 00:29:40.249
that transition if you have kids it's so incredibly important that you start to create this plan quietly so you can exit safely.
00:29:40.435 --> 00:29:51.754
Absolutely so many helpful tidbits in there which you also include prenups in that as well do you think prenups or something that that really benefit everybody
00:29:51.661 --> 00:29:59.883
so a prenup is essentially depending on how its structured but in the very end the very basis of prenup is basically protection of assets when
00:29:59.844 --> 00:30:02.629
of the assets that you had prior to getting into
00:30:02.482 --> 00:30:10.947
a marriage it may factor in what you earn in a marriage and protect some of it I personally do not have prenup so I am in a
00:30:10.764 --> 00:30:18.842
in a marriage that factors and emotional risk which means I've chosen to take this emotional risk to marry my husband
00:30:18.749 --> 00:30:25.611
and also just culturally I'm idea and like a prenup is a no-go because
00:30:25.473 --> 00:30:29.986
you know when you get married to somebody come hell or high water it is what it is
00:30:29.848 --> 00:30:42.067
but that's just culturally right so I don't have a prenup but I have nothing gets prenups if you feel like you have assets that you want to protect family early looms things that are extremely important that you cannot afford to split apart.
00:30:42.155 --> 00:30:48.747
In the event that your relationships breakdown definitely have a prenup if you feel like wow I'm in this marriage and.
00:30:48.852 --> 00:30:56.759
You know you're going to be acquiring some assets or you've gotten some family heirlooms or inheritances that again you cannot afford to.
00:30:56.819 --> 00:31:08.804
Split or have tampered with in the event of a divorce then you can also consider a postnup essentially you want to look at what works best for you given your own circumstances so if a prenup or postnup is what you feel is best for you.
00:31:09.576 --> 00:31:19.463
We also want to make sure that if you are being asked to sign this prenup and signed this postnup as someone who is in a relationship without any fallback plan so for example you may be
00:31:19.334 --> 00:31:26.548
marrying someone who has a really high income that's now moving you to this is a real story moving you to another part of the country where you will not be able to work
00:31:26.428 --> 00:31:31.958
anger with this person for 10-20 years and you have not worked but you have this prenup that.
00:31:32.225 --> 00:31:41.176
Doesn't protect you and now you have kids and you want to exercise this relationship but you're walking away with nothing you want to be very mindful of the language that's put into this document.
00:31:41.209 --> 00:31:49.377
Especially if getting into this relationship is going to impact your income or remove your impact your income completely that you have some sort of.
00:31:49.402 --> 00:31:58.515
Protection given that you're not working for x amount of years and people do not like to have this conversation and this conversation is not just one side is not just
00:31:58.314 --> 00:32:01.413
for women it's for men and women right because
00:32:01.258 --> 00:32:09.786
in relationships there are women who are the high where the higher earner their men that they are the higher end of this is not any like gender anything this is just really.
00:32:09.846 --> 00:32:18.644
Making sure you understand whatever you're signing and if you choose to have a prenup that you you make sure that it includes all those things that you can afford to
00:32:18.587 --> 00:32:21.704
have tampered with in the event that the relationship doesn't work out.
00:32:21.891 --> 00:32:32.759
Got it yeah that totally makes sense I'm not married yet so prenups are not something that I've really thought much about personally but I saw this Tik-Tok video recently by an attorney
00:32:32.621 --> 00:32:43.202
and it actually made me think about prenups in a really different way she said that prenups are not necessarily about whether or not you trust the person you're marrying but they are about
00:32:43.028 --> 00:32:44.777
do you trust the government.
00:32:45.117 --> 00:32:54.626
To kind of divide up your assets as the government sees fit If This Were to not work out and I was like huh that is a really good point honestly.
00:32:54.866 --> 00:33:03.178
I don't know if I do I'm going to think about it but also the government is one thing you know you look at many divorce cases
00:33:02.968 --> 00:33:09.966
people change that to whatever comes down to it rest I would worry less about the government and worry more about
00:33:09.918 --> 00:33:18.266
the person that goes absolutely the government does what the laws are in place right you live in New York living you dirty live in Texas the prenup.
00:33:18.416 --> 00:33:25.918
Laws how assets are divided after 10 years 20 years it's right there is written down the thing is that person you're with.
00:33:25.969 --> 00:33:30.284
How they're going to handle it will they accept it and ESO prenups are again.
00:33:30.398 --> 00:33:36.585
Trust always comments comes into play but you said you love me why are you asking me to sign a prenup don't you trust me.
00:33:36.592 --> 00:33:40.727
So this boils down to communication talking about.
00:33:40.868 --> 00:33:49.783
And making sure that you were truly okay with having a prenup or not having a prenup so it doesn't disrupt your relationship and bringing resentment.
00:33:49.861 --> 00:33:59.019
Anger which can then cause other issues so communication talking about this and a great way to start having this prenup conversation if you want one or you don't want one is when you're dating
00:33:58.998 --> 00:34:04.979
right now would I met my husband questions all the time and we were dating you know what do you think about debt
00:34:04.850 --> 00:34:19.760
he had six figures of student loan on my when you're going to pay off your loans what's your plan hmm part of having a doctor spouse that those Publications don't talk about people seeing dumb but most doctors have six figures of debt to become a doctor who had multi
00:34:19.568 --> 00:34:28.492
six figures and oh my God why would I marry you you're my dad and so conversations and it's.
00:34:28.553 --> 00:34:42.041
Didn't deter me from wanting to be with him I just need to know where his head was at that when it came to her finances do you think that it's okay for just to be for us to just be in debt and take on more debt and not have a financial plan how do you imagine savings what's a good percentage of savings rate
00:34:41.849 --> 00:34:45.606
you and this is not a conversation that you have in one evening this is just.
00:34:45.738 --> 00:34:58.749
You know getting to know each other where do you want to live what kind of house how do you imagine us footing the bill sees our conversations you need to have and cannot tell you how many people friends people in the clever girl finance committee who have said oh my God my husband wants us to.
00:34:58.908 --> 00:35:08.471
Bill's 50/50 in a when you were dating you were pretty was likely having you split the bills 50/50 maybe he was paying for everything and then he changed when you gotten through into the marriage but
00:35:08.271 --> 00:35:27.926
you want to start having this conversation if I need to if we have kids and I need to take time off from work to stay home with the kids or you need to take time off to take home from the kids they used to expect this 50/50 contributions and if somebody doesn't have an income you want to have these conversations as as uncomfortable as they may seem
00:35:27.806 --> 00:35:30.257
when you talk to your partner about them.
00:35:30.650 --> 00:35:39.853
If they are the right person for you they will not be that uncomfortable in person they probably want to ask you to they probably want to know they probably haven't thought about it but
00:35:39.653 --> 00:35:51.943
it's so important so that you guys can be on the same page just understand what are your ideas what are your goals around money how do you plan to pay for things how do you plan to say for things you bring a baby into the situation who's going to cover the.
00:35:52.193 --> 00:35:58.704
Cost who's going to pay for childcare who's going to pay for school activities all these things right are things you just want to start to
00:35:58.656 --> 00:36:06.878
talk about and learn about definitely that that point about communication is so important it sounds like I mean communication is key.
00:36:07.010 --> 00:36:12.424
To managing all things money within relationships constant communication.
00:36:12.592 --> 00:36:19.320
Yes and it's not a fight it's not a battle it's not a dictatorship you know because when I first got married I would tell my husband exactly what we were gonna do.
00:36:19.857 --> 00:36:27.899
We're going to do this we're going to make things I look at guys like no we're not I don't want to do that to get Flex because you know
00:36:27.788 --> 00:36:42.509
we needed to understand our approaches like I love to talk about goals and plans and I love to talk about them as soon as we get into it and he's like I've been working for 16 hours today I just want to sleep the last thing I want to talk about is money five minutes before I could
00:36:42.371 --> 00:36:49.297
I had to learn and if you also have to learn that I'm not the best person to talk about well what are we going to pay these bills when I'm trying to like.
00:36:49.330 --> 00:36:54.113
Have my moment drinking my morning coffee right like I don't want to talk about bills
00:36:53.975 --> 00:37:05.213
when I'm trying to enjoy this calm right when it's self-care time so you kind of have to understand each other's Love Languages and when best to approach situations and how best to.
00:37:05.282 --> 00:37:10.254
Manage situation so that you it doesn't become a fight when it doesn't need to be right
00:37:10.170 --> 00:37:21.867
so and you we all know that about our partners once we get to know that we know what pushes their buttons we know what pushes our buttons and we have to communicate that and I would say Hey listen the same way you told me that you don't wanna talk about money 5 minutes before you fall asleep
00:37:21.801 --> 00:37:23.532
I don't want to talk about bills
00:37:23.440 --> 00:37:31.914
the second I pick up my coffee yeah so let's pick a different time let's talk about it on Saturday afternoon over lunch yeah so let's meet in the middle.
00:37:31.965 --> 00:37:35.983
Such good advice thank you for sharing and and I think.
00:37:36.079 --> 00:37:43.176
Yeah I just I love talking about money in relationships because it is so important and it's some of the one of those things that.
00:37:43.353 --> 00:37:52.592
Needs to continuously be talked about because relationships change Financial situations change so the more we can continue getting comfortable talking about it the better
00:37:52.427 --> 00:38:08.976
yes and I was just going to add one more thing that I found very helpful my relationship is you know you may be in a relationship or somebody to spend their someone's a saber or are you just have things that you want to buy that you don't want to get into a fight about right a lot of women hide purchases a lot of men high purchases
00:38:08.874 --> 00:38:19.013
everybody's hiding something and so one thing that has helped my husband and I as I we have a rule of an amount of basement amount that if we're going to spend more than this amount.
00:38:19.056 --> 00:38:27.548
Up the phone send a text let's just have a brief conversation to make sure that it's doesn't impact something we have coming up doesn't impact our long-term goals right and then we're good
00:38:27.401 --> 00:38:40.088
so I don't have to hide the shopping bags the side of the garage and yeah to put them in the bottom of my closet and he's like where'd you get oh this open
00:38:39.977 --> 00:38:49.792
no let's not do that yes I love that idea having like that spending threshold of you know this is this is the point where we run it past each other and from there you can
00:38:49.654 --> 00:38:53.303
use good judgment and continue on exactly love that.
00:38:53.516 --> 00:39:01.594
So I'd love to talk a little bit about investing partially in weighs about money and then partially in way is kind of not about money
00:39:01.519 --> 00:39:09.678
so first talking about investing money for beginners you know for a long time at least in my own Financial journey I focused a lot on.
00:39:09.694 --> 00:39:19.671
Ferg ality budgeting paying off debt reaching my own savings goals I have not yet done the the one hundred thousand dollars but that's incredible future goal for me.
00:39:19.749 --> 00:39:22.713
All great at times but I've also
00:39:22.693 --> 00:39:33.732
wanted to grow money and I've learned that investing is you know a good way to do that so I would I would love to talk about kind of simple straightforward ways we can.
00:39:33.829 --> 00:39:35.794
Start investing to build
00:39:35.593 --> 00:39:49.288
wealth so for new to investing may be understanding the differences between say investing in the stock market versus investing in something like real estate or you know how much should we focus on things like retirement accounts outside of kind of Our Own.
00:39:49.412 --> 00:39:53.817
Individual Investments and and figuring out what that should look like
00:39:53.679 --> 00:40:07.860
Kress I love this question I always have so much to say about investing so feel free to cut me off I love it I'm I'm excited but I just want to highlight the importance of investing for women specifically so earlier on I had mentioned that gender wage Gap right we're learning
00:40:07.713 --> 00:40:16.430
less money than our white male counterparts and as a result of that gender wage Gap we also have an investment Gap because we're earning less we have less money to invest right
00:40:16.265 --> 00:40:28.952
talk about women living longer than men which means we need more money over the course of our life support ourselves but we don't have enough because of this investment Gap and a lot of times women just don't invest because they are number one they are afraid.
00:40:29.085 --> 00:40:36.712
Of investing or they just have so many other obligations outside of themselves that they think about themselves last time or the time they've
00:40:36.673 --> 00:40:41.132
given this obligation to everybody else they have little or nothing to invest
00:40:40.995 --> 00:40:50.585
out of that waste at the urn so it's really important that you prioritize investing and when it comes to Growing money investing is the way you do it because you only have so much
00:40:50.438 --> 00:40:59.182
time in your day that you can exchange for money so when you go to a job to work you're exchanging your time for money and that there is a
00:40:59.116 --> 00:41:06.789
right you have 40 hours in the week maybe you have 60 hours in the week without being as are exhausted out of your mind but that's the max you can give to exchange.
00:41:06.813 --> 00:41:09.175
Your time for money and so how do you
00:41:09.100 --> 00:41:22.570
have your money work for you even when you're sleeping even when you want to take a break from work even when you choose not to work right if you're able to be in that position because you have invested your money it's investing that lets you do that and there are different ways to invest you can invest in the stock market
00:41:22.504 --> 00:41:27.638
within the stock market you can invest in individual stocks you can invest in funds which are
00:41:27.437 --> 00:41:42.024
Aggregates of different stocks you can invest in bonds which is when you loan money to the federal government or to corporations and they pay you back with interest for the money that you have loaned them you can invest in real estate trust where you invest through the stock market in
00:41:41.796 --> 00:41:45.148
real estate Investments commercial property
00:41:44.947 --> 00:41:56.454
Hospitality hotels Farmland things like that so the stock market is one way another way to invest is in real estate physical real estate you buy a rental unit you buy a commercial
00:41:56.253 --> 00:42:04.160
I'll be by a gas station you buy a laundromat there many different categories and real estate in which you can invest or you invest in small business.
00:42:04.202 --> 00:42:16.862
Where you invest in your own business right exchanging your time to grow your business at scale your business so you can bring in money or you invest in the business of other people other small businesses so some might say you know what I want to start a bakery can you
00:42:16.806 --> 00:42:21.544
invest 10,000 dollars right over two years and I will give you this amount.
00:42:21.631 --> 00:42:31.401
Once we hit this income level and then the fourth way is no more reset and that's to digital assets and cryptocurrency so there are many different ways to invest your money.
00:42:31.803 --> 00:42:43.320
It can be overwhelming trying to determine where to get started and so I always tell people to get started with the lowest barrier to entry and the lowest barrier to entry is the stock market because you don't believe you don't need a lot of money
00:42:43.200 --> 00:42:46.939
to invest and a lot of times your employer if you are employed
00:42:46.837 --> 00:42:58.678
has made it really easy for you to invest if they offer your 401k or an IRA plan where they can take that money directly from your paycheck and they will even offer you many companies do an extra incentive through a match.
00:42:59.125 --> 00:43:04.160
Which is free money and so if you have that free money option you want to take it where they will give a percentage.
00:43:04.284 --> 00:43:09.382
Matched up to a certain amount of money that you contribute as an incentive for you too.
00:43:09.397 --> 00:43:17.844
Invest your money for them it's a tax break you know Etc but for you it's an opportunity for you to get free money that no one is handing out anywhere but hey
00:43:17.724 --> 00:43:19.617
yeah so that's a great
00:43:19.416 --> 00:43:33.850
place to get started you know real estate with small business usually need a lot more money David cryptocurrency it's in because it's more its newer as a mainstream investment it's highly volatile you hear a lot about in the news a lot of scams and so
00:43:33.703 --> 00:43:39.296
stock market has been around and if there's a sense of stability there especially when you diversify.
00:43:39.329 --> 00:43:45.328
Someone who is new to investing definitely start with your employer accounts if your employer does not offer you one start with
00:43:45.190 --> 00:43:54.474
an IRA that you can open up with a brokerage of fidelity and Vanguard at zero price and start to contribute money in there and I would say don't put all your eggs in one
00:43:54.291 --> 00:44:00.784
basket it can be really sexy to say oh I'm investing in Tesla I'm investing in Amazon I'm investing in this next.
00:44:00.773 --> 00:44:15.044
Think but you don't want to put all your money into one basket of Tesla or Amazon because if something goes wrong with that company and all your money goes down with it and so I would recommend investing broadly and index funds right and index one is essentially an aggregation of
00:44:14.978 --> 00:44:22.534
different stocks that track something like the S&P 500 so you've all heard about the sp500 on the news and essentially it's the
00:44:22.441 --> 00:44:34.705
500 of the largest publicly traded companies in America right so by investing in an index fund that matches the sp500 you get to invest in 500 of the largest companies in America
00:44:34.612 --> 00:44:44.347
or you can invest in total market index funds which invest in pretty much every stock that is traded on the stock exchange and I think there's a
00:44:44.245 --> 00:44:58.507
close to 4,000 of them by the time you put in a hundred dollars you're investing in 4,000 different companies so if Tesla is one of them and it goes down you have 3999 the kind of buffer yeah right that decline so
00:44:58.369 --> 00:45:02.999
and the key to investing the reason why investing works is because number one
00:45:02.879 --> 00:45:11.957
your money is always working and it grows from the power of appreciation dividends and most importantly compounding right this is when your money earns money
00:45:11.945 --> 00:45:17.934
and your money is money and money and then your money is money is Monies.
00:45:18.039 --> 00:45:32.013
Your mind is Grows Right and the longer you give your money to grow the more it will grow over time and people like well the stock market is always crashing there's always this news and this but if you look at the history of the stock market you will see that
00:45:31.966 --> 00:45:45.967
there have been several it's a giant little chart right you see ups and downs and ups and downs so there's always declines there's always a recession there's always an economic situation there's always a war there's always something inflation when you look at the
00:45:45.757 --> 00:45:47.867
can you take a step back and you look at the
00:45:47.828 --> 00:45:57.481
trajectory it's always up it goes up despite the short-term dips and spikes in the long term it goes up and this is simply because population is crying
00:45:57.343 --> 00:46:07.203
right demand is higher Supply is limited resources or limited technology is playing a big part and so the likelihood that there will be short time
00:46:07.201 --> 00:46:21.301
short-term dips and recessions very very high but over time the trajectory is to grow right especially with appreciation and dividends appreciation is when your investment grows in value because it's now worth more.
00:46:21.307 --> 00:46:33.796
Dividends is what companies are corporations pay to you when the company is doing well it's part of their profit sharing and then compounding is that money making money and growing and growing over time so there are lots of
00:46:33.793 --> 00:46:41.952
opportunity to grow your money in the long term but you want to start now right so when you hear about retiring a lot of people say well I want to retire a million dollars.
00:46:42.183 --> 00:46:49.667
All right Anna Munoz might sound like what that's so crazy but if you start now and invest a certain amount every month for 10 20 30 years.
00:46:49.673 --> 00:47:03.323
It's very likely you can create your own lottery for yourself yeah I starting now yeah oh I hope that lots of say yes I'm like there's so many things here that I want to continue digging into because that was like
00:47:03.285 --> 00:47:06.727
investing 101 that was an amazing bike
00:47:06.544 --> 00:47:19.600
tactical explanation so thank you so much for that and I loved what you said about taking a step back and looking at the big picture because we do sometimes see especially you know this year right we went
00:47:19.444 --> 00:47:26.198
to having a bear Market where a lot of things are down and so that can seem really scary but when you take a step back and look at
00:47:26.187 --> 00:47:32.104
the big picture things do tend to Trend upward and we can look at the history and we can see.
00:47:32.137 --> 00:47:38.739
The patterns even though we can't necessarily predict exactly what's going to happen and so that perspective is is super helpful.
00:47:38.871 --> 00:47:50.513
I'd love to talk a little bit more about time which is kind of what you just emphasized is the importance of time so that our money can grow and I know that we do have quite a few young listeners and so
00:47:50.412 --> 00:47:55.222
now being in my 30s I'm now starting to understand and I'm starting to see.
00:47:55.399 --> 00:48:04.656
What some of those decisions that I made in my twenties what they turn around to look like and I definitely made a lot of money mistakes in my 20s but one thing that I did right.
00:48:04.671 --> 00:48:07.933
One thing that I did which I honestly.
00:48:08.209 --> 00:48:15.639
I truly don't even remember doing this but apparently I did when I was about 20 I interned at a large company that treated interns like.
00:48:15.699 --> 00:48:20.950
Full-time employees so you had all benefits of a full-time employee and I started my 401k then.
00:48:21.145 --> 00:48:28.260
I forgot but still have it it's still growing and now over a decade later it's you know really healthy and.
00:48:28.329 --> 00:48:37.866
Thing because it's existed for so long and the older I get purely just because it existed it will continue to grow so I just really want to encourage our young listeners you know
00:48:37.809 --> 00:48:45.751
you're in your early twenties like that is the perfect time to get started even if you're not contributing a lot like you have time on your side and time.
00:48:46.289 --> 00:48:53.980
The best asset and even if you're older there's no better time than right now to get started
00:48:53.815 --> 00:49:20.779
yeah I agree with you 100% you know and you know when the market is down think of it as a sale and who doesn't love a good sale like that dress you can I goes on 50% off I'm gonna buy it right yeah the great time to get in and buy stocks at a discounted price knowing that they may not turn around immediately but you are in it for the long term right and if you were older a lot of people made this mistake of giving up because they're like oh well I'm two years from retirement I'm three years from retirement but one thing to keep in mind is that retirement is not a day
00:49:20.605 --> 00:49:27.495
great you don't get to age 65 every tire and then drop dead and you don't get to age 65 and then.
00:49:27.537 --> 00:49:34.697
Spend all your retirement Savings in that one day right retirement is a whole nother world like you know the average retirement
00:49:34.649 --> 00:49:39.099
person who retires at 65 lives another 20 25 30 years
00:49:38.898 --> 00:49:55.330
that's more time for your money to even grow when you're taking out what data live on for the lifestyle you want to have and a lot of retirees also don't just sit on their couch once they turn 65 okay I can give you a lot of do second careers they get more time job they start their dream businesses so you're starting late
00:49:55.129 --> 00:50:10.688
by whose definition yeah right you start where you are with what you have and the other thing that a lot of young people say to me is that well you know the stock market is a scam and one day it's all going to crash and if one day all crashes we have bigger issues than the stock market right
00:50:10.532 --> 00:50:20.158
when covid-19 hit with before we had the vaccine before we knew what the symptoms on before we do anything nobody were you thinking about your stock your stocks or are you thinking about.
00:50:20.317 --> 00:50:22.454
Health and safety and staying alive
00:50:22.271 --> 00:50:38.127
definitely on that product in in hype and in the fear tactic something that the media plays right and also remember money is not everything it's great it gives us options but it's important that we stay sane that we stay well that we stay healthy
00:50:37.980 --> 00:50:45.202
and then we can leverage money to achieve the things that we want for ourselves because if we're not well for not mentally okay
00:50:45.182 --> 00:50:53.583
there's only so much that money can help us to preach that's a word thank you so much for that
00:50:53.572 --> 00:51:05.566
along the same lines just continuing to talk about Investments I love to know what are some of the Investments that you've made in yourself that you feel truly paid off and that can be Financial or otherwise.
00:51:05.608 --> 00:51:17.107
So I've always invested from a financial perspective so that's you know it's one thing but I definitely think in that personal development personal investing I just think that for me
00:51:17.041 --> 00:51:24.236
knowledge has been my greatest asset it's what has allowed me to do what I do now what has allowed me to be
00:51:24.071 --> 00:51:29.530
strategic investor and so just investing in knowledge investing my time in
00:51:29.365 --> 00:51:43.321
reading books and talking to advisors and mentors and learning about how to get past challenges I'm facing that has been the best investment for other people it could be talking to the to a therapist it could be
00:51:43.174 --> 00:51:49.596
getting Financial counseling it could be learning a skill set to help you get to the next level in your career
00:51:49.485 --> 00:51:58.517
those are really good Investments right and people will tell me I don't have time to read but I guarantee you if you spend 10 minutes Less on Instagram and Tick-Tock and.
00:51:58.649 --> 00:52:02.721
Yeah those bottomless
00:52:02.718 --> 00:52:11.624
it platforms which listen I have nothing I'm on Instagram I'm going to talk about other places but we want to be able to manage that time you talked about and not just for our money but
00:52:11.450 --> 00:52:16.720
for ourselves so that we can grow ourselves that we can nourish our souls in our minds
00:52:16.519 --> 00:52:23.471
so that we can continue to make informed and strategic decisions so for me it's just been an education that's been my biggest investment
00:52:23.459 --> 00:52:28.422
in myself my education is learning learning absolutely
00:52:28.258 --> 00:52:45.842
I love that and learning can happen in so many different ways for some people it could be formal education for others it could be mentorship it could be joining communities where you learn it could be taking courses it could be you know maybe Trading
00:52:45.659 --> 00:52:52.341
fictional TV show you watch for an educational one to learn there's so many ways that we can continue learning
00:52:52.231 --> 00:52:58.247
yes yes so many different ways find what works for you could be audiobook somebody once told me that listening to an audiobook.
00:52:58.532 --> 00:53:11.165
Is not reading I might go but it's the same information right hey you here are you read it what's the difference right yeah you're still getting the same content do what works for you yes wonderful.
00:53:11.171 --> 00:53:14.991
So as we wind down here I also really.
00:53:15.096 --> 00:53:24.164
Appreciate the way is that you talk about wealth and prosperity Beyond money right we just got a taste of that when you're talking about time and investing in ourselves and investing in knowledge.
00:53:24.315 --> 00:53:36.705
I would love to just get a little perspective from you about ways that we can be wealthy and prosperous in addition to financially other ways that we can be prosperous.
00:53:36.738 --> 00:53:44.429
So I think Prosperity the definition of prosperity is different for everybody because they're they're just different things that make us.
00:53:44.516 --> 00:53:52.036
Truly happy we all desire different things for ourselves and obviously there are standards that set by the World by social media Buy.
00:53:52.132 --> 00:54:00.660
I know family member is where you need to be this by this need to have this fight this you know and a lot of times we're in pursuit of those things but there's another things that we truly want
00:54:00.495 --> 00:54:12.507
who says that you need to be married by X age and have two kids by this age of buy your first home by this age and we'll be able to travel Europe by this a jack who says that is that what you really want for yourself so it's really important first and foremost that you get clear
00:54:12.504 --> 00:54:19.231
on your way what is truly important to you and why do you want it and then that is going to be the Baseline.
00:54:19.409 --> 00:54:30.610
How you pursue your overall Wellness or overall personal development even your financial wellness it's going to be tied to the thing that you truly want to rate it's really important that we get clear on that and not
00:54:30.607 --> 00:54:37.785
we hold ourselves to the standards that other people have created for us and I definitely think that there is value in making time
00:54:37.629 --> 00:54:50.208
for self-care really you know there's this whole idea of hustle culture but the only place that leads you to as burnout and for some reason it's been made to seem sexy and attractive but I've definitely been in that hustle culture space
00:54:50.133 --> 00:54:52.288
but life passes by
00:54:52.150 --> 00:55:04.576
right and you want to make sure that you're living your life to the fullest because you only have this one life so taking time for self-care is so incredibly important taking time to also work on your mental health there's so many things going on in the world
00:55:04.438 --> 00:55:15.586
so many external forces that we have zero control over right but we're consuming all this negative news and we're letting people tell us all this negative feedback that at some point
00:55:15.502 --> 00:55:17.179
we reach a Breaking Point.
00:55:17.347 --> 00:55:31.898
Whether in how we feel meant you know whether in our emotional level dealing with depression dealing with anxiety so it's really important that we prioritize our mental health and that might mean disconnecting was from social media for a little bit not watching the news talking to her.
00:55:31.931 --> 00:55:36.714
Post talking to a confident talking you know finding a safe space where you can just be yourself
00:55:36.576 --> 00:55:50.532
but those are some of the things that I would say hmmm yes yes and I think that ties in beautifully with with investing in yourself investing in your mental well-being as well because in kind of to your point earlier
00:55:50.449 --> 00:55:55.213
without that what do you have exactly exactly.
00:55:55.319 --> 00:56:05.233
Oh my gosh below this was so helpful I feel like we covered so much ground I'm just so inspired so thank you for all that you shared and
00:56:05.032 --> 00:56:13.371
at clever girl Finance which is the incredible Financial education platform that you've created you have courses you have an incredible blog you have
00:56:13.197 --> 00:56:22.716
books if YouTube you have so many incredible resources can you tell our audience where they can find the amazing work that you're doing at clever girl
00:56:22.542 --> 00:56:30.620
yeah so I have the new book that we're talking about is called choosing to prosper you can find everywhere books are sold as an e-book audiobook
00:56:30.455 --> 00:56:37.605
physical book and they're also three other books in the clever of Finance book series one on foundational Finance called clever girl Finance
00:56:37.413 --> 00:56:51.262
one on investing specifically called grow your money and one on starting a side hustle to expand your income streams call the side hustle guy and again everywhere books are sold and then you can visit clever will finance out cam we have over 30 plus completely free courses
00:56:51.097 --> 00:57:07.970
we have articles that are updated every single day we have the clever girls know podcast we have our YouTube channel and so our goal is really to empower you with knowledge wherever you find us on any of these platforms and we're also on Instagram at clever Well Finance we would love for you to join our community
00:57:07.841 --> 00:57:20.573
when you have an incredible community so we'll be sure that we link all of your books your social Platforms in the clever girl Finance website in the show notes to make it really easy for people to find you thank you for joining me today
00:57:20.345 --> 00:57:23.103
thank you so much for the opportunity to be here.
00:57:22.960 --> 00:57:28.880
00:57:28.726 --> 00:57:38.983
Reading her book and being in conversation with her I was so inspired by her by her family by her story and she's just getting started.
00:57:39.151 --> 00:57:49.236
Add to the show notes to check out her work with clever girl Finance you can check out her community courses clever girl Finance books and her latest book choosing to prosper.
00:57:49.405 --> 00:58:01.840
Huge thanks to this week's sponsor open for keeping me grounded and calm and my own meditation practice and I invite you to join me on my favorite meditation app special link in the show notes give you 30 days
00:58:01.693 --> 00:58:05.756
free which is an incredible offer so make sure you check it out.
00:58:06.095 --> 00:58:16.882
Next week we're talking about new ways of Building Wealth through technology and understanding new forms of currency including crypto to decide if it's a tool we want to leverage for Building Wealth
00:58:16.852 --> 00:58:25.344
this episode is jam-packed with information that you don't want to miss so make sure you're subscribed so you can tap in thanks again for listening and I'll see.
00:58:25.200 --> 00:58:40.283
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