This episode of the Mo’ Money Podcast is supported by CoPower. Want to invest in fixed income, help the environment, and earn 4-5% returns? You can do it all by buying CoPower Green Bonds. Learn more at CoPower.me
Well, we’re almost at the end of another podcast season! Just like last year, for my second to last episode, I wanted to do a special solo episode. I wanted to just chat one-on-one with you about some of the things I’ve been up to and have realized this year. Then, I wanted to share some of the biggest money takeaways from both seasons 6 and 7 of the More Money Podcast.
My Personal Realizations from 2018
Let’s first start with some of my personal realizations this year. This year has been truly amazing. I’ll do a longer blog post closer to the end of the year really reflecting on all that happened, but two keys things I’ve realized this year: my mission/purpose is to help others, and the only way to do that is to talk to real people like you (meaning, don’t get stuck in my little personal finance bubble).
Going back to when I was a missionary in Africa at 18 (you can learn more in Ep. 20), I’ve been looking for a way to have a career that isn’t just personally meaningful, but also impactful on other people’s lives in a positive way. In short, I’ve felt for a very long time that I’ve been put on this Earth to help people. When I was in my 20s, I thought maybe the way to do that was to become a filmmaker and make documentaries that educated others, or films that lifted people’s spirits.
Then, real life happened and I just needed a job to earn a living. My dream of having a job that helped others went by the wayside until I got the idea to start my personal finance blog. Even though it was just a hobby at the time, I finally felt like I had a creative outlet and a means to help others by sharing my own personal finance journey.
It’s crazy to think that by starting my blog over 7 years ago, I would eventually end up running my own business and helping others with their personal finances full-time. Life is unpredictable, but for the first time since I became self-employed (almost 2 years now), I finally feel like I’ve been able to accomplish that big goal of having a job that helps others too.
And honestly the big reason I feel like that is this year I’ve had more opportunities to talk to real people. Sometimes they are people like you who listen to my podcast, read my blog, watch my videos, or follow me on social media. Sometimes they have no idea who I am, but I meet them at events or through friends and we strike up a conversation about money. It is seriously so cool to be able to find out what people do with their money, and what they struggle with. For years I was pretty much in this echo-chamber of just talking with other personal finance content creators or reading articles by finance journalists.
That’s not real life. The only way to understand how to help people with their money is to talk to them. It’s been an education, but it’s definitely been helpful in me having a better sense of direction in terms of what I can do in the future to spread the word and help even more people.
8 Money Takeaways from 2018
I’ve interviewed 41 people on the podcast this year. That’s almost one person per week! I’ve loved every single interview, but there are 8 interviews in particular that stuck out to me because of the tips and takeaways they shared.
Perez Hilton – Hustle Hard to Make More Money
I’m a huge fan of Perez Hilton (I’ve been reading his blog for a decade), so it was seriously such a thrill to interview him on my show.
And he did not disappoint as a guest. He was very open and honest about how he made a ton of money mistakes which forced him to file for bankruptcy. But he learned from those mistakes and is now very conscious of all of his money decisions.
Still, the biggest takeaway from his interview was to hustle hard and focus on earning more. Yes, there is value in living simply and frugally, but that shouldn’t deter you from trying new things, working hard, and striving to always earn more money.
J.D. Roth – Take Charge of Your Finances (No One Else Will)
J.D. Roth is one of the OG personal finance bloggers, who started the blog Get Rich Slowly, sold it for a hefty profit, then bought it back to run it again.
The biggest takeaway from his episode was you need to be the CFO of your own life. If you want to be financially successful, don’t just hand off your finances to someone else to deal with and hope they do what they’re supposed to. No one cares more about your money than you do, so you need to step up to the plate and take responsibility for your own financial life.
Shannon Lee Simmons – Money Is a Tool for Good
Shannon Lee Simmons released her first book Worry-Free Money last year, and I’ve been telling everyone who will listen to grab a copy ever since I finished reading it. It is one of the few personal finance books around that has a positive spin on finance. It makes you feel good about your money, not ashamed or judged.
The biggest takeaway from her book was that money is a tool for good. You should feel good about your money. If you’re not happy with your current financial situation, it’s not too late. You can fix it!
Laurie J. Cameron – Be Mindful with Your Money
Laurie J. Cameron is the author of The Mindful Day and teachers others how to practice mindfulness in their daily lives. Wouldn’t you know it, mindfulness is becoming a bigger part of the personal finance space, and for good reason. As I’ve been recognizing by working with my financial counseling clients, money is about the numbers. It’s about psychology. The only way to change your financial situation is to change your mindset and be more mindful of every single one of your financial decisions.
Cait Flanders – Minimalism Could Help with Your Spending Problem
Along the same lines, in my interview with Cait Flanders, author of The Year of Less, living a more simple and minimal life may be the life change you’ve been looking for. Especially if you’re dealing with a spending problem and are looking to create a different type of relationship with your money.
Practicing minimalism helped Cait stay out of debt and live a more fulfilled life. Maybe it’s something you’ll want to try out next year too!
Kathlyn Hart – You Deserve to Be Paid Your Worth
This was one of my most downloaded episodes, and I’m not surprised. Kathlyn Hart, a negotiation coach, shares tips on how to ask for more money, either in the interview stage or when asking for a promotion.
This is something, especially us women, need to do more of. Whenever I talk to women about this topic, most of the time they tell me they’ve never negotiated a salary or pay raise, they just accepted what was offered. Well, if you want to earn more, you need to ask for more and not be afraid to ask in the first place!
Amanda Abella – Don’t Be Ashamed for Wanting to Earn More Money
I loved chatting with Amanda Abella for this episode because I’ve known her for years from the FinCon community, and I also worked with her as a sales coach for my business too.
For this episode, she shares how so many of us (again, mainly women) have a hard time feeling good about earning money. We associate it with negative ideas of greed and unworthiness. But that’s not how we’re going to change the wage gap. We need to ask for what we deserve, we need to feel good about earning, and we need to ignore anyone who shames us for feeling good about making money.
Paulette Perhach – An Emergency Fund Should Be Everyone’s Top Priority
If you need some major motivation for starting an emergency fund, this episode is it. Paulette Perhach, an acclaimed writer whose F** Off Fund article went viral, shares why she wanted to write about the importance of having an emergency fund in a new way. Instead of thinking of it in the traditional sense, think of it as a stash of cash you can use in case you need to get the hell out of a really bad situation (like leaving your boyfriend or quitting your toxic job).