Journey To Launch

When it comes to saving, frugality is so more than just a habit, it's a lifestyle choice. Liz Thames, affectionately known as Mrs. Frugalwoods, allowed a frugal lifestyle to help fuel her family toward Financial Independence and a simpler lifestyle in the woods of Vermont. Retired at 32, Liz and her husband made it a priority to make tough decisions on spending in order to save 70-80% of their income. She shares much of her wisdom on her blog, Frugalwoods, and we are delighted to have her be a part of this show. Their new book, Meet the Frugalwoods: Achieving Financial Independence Through Frugal Living Book is set for release and readers that pre-order by March 13, 2018, will receive a signed bookplate! Details are listed in the links below.

(Also, YNAB, my favorite budgeting app is giving Journeyers a 2-month free trial, no credit card required to try their amazing budgeting system, check it out here!)

In this episode, we talk about:

• How frugality can simplify your life and catapult your savings goals
• How important it is to consider what makes you happy in making savings/retirement plans
• The simple formula for achieving financial independence
• How to cut your expenses to achieve the lifestyle you desire
• The significance of understanding the opportunity cost of the money that you are spending.
• The importance of remaining mentally connected to your financial goals
• How finding meaningful hobbies can help to keep you focused during the wait of finding financial independence

Other related blog posts/links mentioned in this episode:

• Frugalwoods' Uber Frugal Month Challenge
• Frugalwoods' Uber Frugal Month Challenge
• Meet the Frugalwoods: Achieving Financial Independence Through Frugal Living Book Pre-order and Signed Bookplate
• How We Saved $169,000 in 2 Years With the Help of This Budgeting System
• Join The Weekly Newsletter List
• Leave me a voicemail– Leave me a question on the Journey To Launch voicemail and have it answered on the podcast!
• Watch me on News12 Watch my latest segments on News12
• My One on One Money Coaching Services – Get my personalized 1on1 money coaching expertise to help you reach your financial goals
• YNAB – Start managing your money and budgeting so that you can reach your financial dreams. Sign up for a free 2 month trial of YNAB, my go-to budgeting app by using my referral link.

Connect with The Frugalwoods on:

• Twitter
• Facebook
• Instagram
• Frugalwoods.com

Connect with me:

• Journey To Launch Instagram
• Journey To Launch Twitter
• Journey To Launch Facebook Page
• Join the private Facebook Group

Investing in stock can seem very intimidating but Tela Holcomb, the renowned stock investor has used swing trading as a vessel to help her create financial independence. More than 9 years ago, as a servicemember and single mom, a conversation about trading and early retirement inspired Tela to teach herself the skills necessary to replace her 9-5.

In this episode, we talk about:

• The difference between trading and long-term investing
• How practice trading accounts prepare for real life stock trading
• Tela's 3 trading account system
• How to buy stock
• How to make a trading plan to manage gains and losses
• How to manage the emotions that come with stock trading
• Tela's definitions of financial independence and financial freedom
• Why you don't have to be perfect to find success in stock trading.

Other related blog posts/links mentioned in this episode:

• Tela's Website With Free Stock Market Course
• Tela's free Stocks and Profit Facebook Group
• Join The Weekly Newsletter List
• Leave me a voicemail– Leave me a question on the Journey To Launch voicemail and have it answered on the podcast!
• Watch me on News12 Watch my latest segments on News12
• My One on One Money Coaching Services – Get my personalized 1on1 money coaching expertise to help you reach your financial goals
• YNAB – Start managing your money and budgeting so that you can reach your financial dreams. Sign up for a free 2 month trial of YNAB, my go-to budgeting app by using my referral link.

Connect with Tela on:

• Twitter
• Facebook
• Instagram
• TelaHolcomb.com

Connect with me:

• Journey To Launch Instagram
• Journey To Launch Twitter
• Journey To Launch Facebook Page
• Join the private Facebook Group

Passing down generational wealth is extremely important. The best way to make sure that wealth is passed down for generations to come is through proper estate planning. Art Steele, Estate Planner and the podcaster behind The Legalese for Entrepreneurs Podcast, has an incredible story about how she came to choose her career and the epiphany that caused her to realize the significance generational wealth within in the black community.

In this episode, we talk about:

• Understanding the racial wealth gap
• Why personal behavior cannot close the racial wealth gap
• The significance of estate planning in the black community (and all communities)
• How considering the "value of your life" helps with planning your estate
• What having an estate plan involves
• The legal documents required to make decisions for end of life care
• The roles of a financial planner and an estate planner
• The importance of leaving behind a will
• How proper estate planning can benefit generations beyond your children
• The significance of a trust with inheritance for children
• How hiring an attorney for estate planning can save you money in the long run

Other related blog posts/links mentioned in this episode:

• The article about the racial wealth gap
• Art's Free Estate Planning Workbook
• Art's Email Legal-Ease Course
• Join The Weekly Newsletter List
• Leave me a voicemail– Leave me a question on the Journey To Launch voicemail and have it answered on the podcast!
• Watch me on News12 Watch my latest segments on News12
• My One on One Money Coaching Services – Get my personalized 1on1 money coaching expertise to help you reach your financial goals
• YNAB – Start managing your money and budgeting so that you can reach your financial dreams. Sign up for a free 2 month trial of YNAB, my go-to budgeting app by using my referral link.

Connect with Art on:

• Twitter
• Facebook
• Instagram
• Podcast: Legal-Ease for Entrepreneurs
• ArtSteele.co

Connect with me:

• Journey To Launch Instagram
• Journey To Launch Twitter
• Journey To Launch Facebook Page
• Join the private Facebook Group

When two people are working towards a goal, amazing things can happen. This occurred for Andy Hill and his wife when they decided to come together and set a plan to reach their financial dreams.

In this episode, we talk about how Andy and his wife:

• Paid off $48,032 of debt in 1 year
• Became completely debt free by paying off their mortgage in less than 4 years
• Began living on one income and got on the same financial page
• Don't believe in giving their kids allowances & the important values they are instilling in them
• Plus so much more!

Other related blog posts/links mentioned in this episode:

• Andy's Blog & Podcast
• BuzzFeed's 27 Podcasts You Need To Start Listening To in 2018
• Join The Weekly Newsletter List
• Leave me a voicemail- Leave me a question on the Journey To Launch voicemail and have it answered on the podcast!
• Watch me on News12 Watch my latest segments on News12
• My One on One Money Coaching Services - Get my personalized 1on1 money coaching expertise to help you reach your financial goals
• YNAB - Start managing your money and budgeting so that you can reach your financial dreams. Sign up for a free 2 month trial of YNAB, my go-to budgeting app by using my referral link.

Connect with Andy:

• Marriage Kids & Money Blog & Podcast
• Andy on Twitter
• Andy on Facebook

Connect with me:

• Journey To Launch Instagram
• Journey To Launch Twitter
• Journey To Launch Facebook Page
• Join the private Facebook Group

It's my birthday! So, this episode is going to be more personal, a solo episode where I want to talk about more of what's led me to where I am today and the lessons I've learned throughout my 35 years of life that continue to contribute to my success.

In this episode, I talk a bit about my previous failed business attempts from starting an online magazine to investing almost $22,000 in a vending machine business that ultimately did not succeed.

I'm also sharing key life lessons that have helped me thus far on my life journey and hope you can find some inspiration to help you on your path too.

I said that my word for this year was "Fearlessness" but it also is "Creation". Never have I felt more inspired and filled with hope, nurturing and growing life within and all around me. I'm in a season of expansion and my dreams are literally coming true.

I couldn't be more appreciative and happy with what is and what's to come. Thank you for listening to the podcast which now has over 50,000 downloads! If you want to give me a bday gift, here are a few things you can do:

• Share the podcast with your family and friends. Send them your favorite episode and/or share on your personal FB profile, twitter, Instagram, etc. Not sure, how to share or find the podcast on your favorite podcasting app? click here.
• If you listen to the podcast in Apple podcasts, please leave me a review
• Also, if you don't want to miss a thing, please make sure to sign up for my weekly newsletter

Other related blog posts/links mentioned in this episode:

• The Complete Works of Florence Shinn
• Leave me a voicemail- Leave me a question on the Journey To Launch voicemail and have it answered on the podcast!
• Watch me on News12 Watch my latest segments on News12
• My One on One Money Coaching Services - Get my personalized 1on1 money coaching expertise to help you reach your financial goals

Connect with me:

• Journey To Launch Instagram
• Journey To Launch Twitter
• Journey To Launch Facebook Page
• Join the private Facebook Group

If you're someone looking for ways to increase your income so that you can reach your financial goals, starting your own business has probably has crossed your mind once or twice. Not only will a business become an asset but it can become an integral step in helping you reach Financial Independence.

Timika Downes talks about her journey to starting a lice clinic as a side hustle in addition to working her full-time job as a nurse. Now, her lice clinic makes 6 figures a year and has afforded her a life of options and more freedom. This is an inspiring interview for anyone who wants to increase their income and start a side hustle.

Here are the main topics we cover in this episode:

• Timika's background
  • Her job
  • How she grew up frugal
  • The importance of saving

• Her lightbulb moment
  • The methods she used to pay off debt quickly
  • How she became intentional about paying off debt

• Her next step towards FI
  • Her mission to save as much as possible
  • How she decided what she wanted from life
  • Why FI is about having options

• Her business
  • Her path to different businesses
  • How she started her lice clinic
  • How she built a business within her means
  • The importance of validating a business idea

Plus we talk about so much more!

Other related blog posts/links mentioned in this episode:

• ChooseFI Facebook group
• Dave Ramsey
• Mad Fientist
• Radical Personal Finance
• Leave me a voicemail- Leave me a question on the Journey To Launch voicemail and have it answered on the podcast!
• Watch me on News12 Watch my latest segments on News12
• My One on One Money Coaching Services - Get my personalized 1on1 money coaching expertise to help you reach your financial goals

Connect with Timika:

• Timika's blog -The Reluctant Frugalist

Connect with me:

• Journey To Launch Instagram
• Journey To Launch Twitter
• Journey To Launch Facebook Page
• Join the private Facebook Group

Paying off debt is essential to getting back on track with your finances. Not only will you remove a large expense every month, but the mental freedom is priceless. That's exactly what Whitney did by working two jobs and sticking to a tight budget. By being intentional and mindful of her spending, she was able to pay off all her debt and now owns a personal finance business. Her business now makes more money than her full-time job, which means she now gets to live on her terms and work on her business.

Whitney's hacks to paying off debt are unique and insightful, a huge help to anyone working towards paying back their debt.

Here are the main topics we talked about in the episode:

• Whitney's background
  • Her journey to managing money
  • How she paid off her $30,000 in debt in 10 months
  • Her online business

• Her journey to paying off debt
  • How she was working 2 jobs
  • Her different tricks to paying off debt
  • How she set her goals

• How to be intentional about your finances
  • Using a holistic overview
  • The importance of keystone habits
  • How to set SMART goals

• Investing when in debt
  • How it differs from case to case
  • Starting an emergency fund
  • Why it depends on how long you'll be paying off debt

• Her personal finance goals
  • Why she's leaving her full-time job
  • Her business goals
  • Getting started with real estate investing

Other related blog posts/links mentioned in this episode:

• Whitney's Blog
• The Money Nerds Podcast
• The Money Summit
• The Power of Habit by Charles Duhigg
• Dave Ramsey
• Leave me a voicemail- Leave me a question on the Journey To Launch voicemail and have it answered on the podcast!
• Watch my CBS News Segment
• Watch me on News12 Watch my latest segments on News12
• My One on One Money Coaching Services - Get my personalized 1on1 money coaching expertise to help you reach your financial goals

Connect with Whitney:

• Whitney on Twitter
• Whitney on Instagram
• Whitney on Facebook

Connect with me:

• Journey To Launch Instagram
• Journey To Launch Twitter
• Journey To Launch Facebook Page
• Join the private Facebook Group

When developing a solid financial plan, it's important to look at how you can generate the most income while being conscious of your spending. Marcus and Rich from the Paychecks and Balances podcast aim to help people look at both sides of their balance sheet, their income and their expenses.

I really enjoyed interviewing Marcus and Rich as we covered a variety of topics such as how to; negotiate pay raises, pay off debt and the importance of being able to enjoy yourself while on your financial journey.

This is a very informative yet light-hearted episode for those of us who want to accomplish our financial goals while not feeling guilty about spending on the things we value.

Here are the main topics we talked about in the episode:

• Rich and Marcus
  • Their backstory
  • How they became more conscious of their money habits
  • The meaning of their podcast

• Making the most of your paychecks
  • The importance of understanding where your money is going
  • Automating your savings
  • Negotiating your salary

• How to negotiate your salary
  • Why people are afraid to negotiate
  • The importance of doing your research
  • Making the most of your company's benefits
  • Using a cost of living calculator

• Taking action
  • How to be proactive and not reactive
  • Why it's better to start now rather than later
  • How to live the 80/20 lifestyle
  • Why it's important to be responsible but also enjoy yourself

• Being in debt
  • Marcus' journey managing debt
  • Why the easiest part is making a plan
  • Making sure getting in debt is your choice
  • Rich's story with debt
  • Why people want to be debt free
  • The difference between good and bad debt
  • Credit card debt vs student loan debt

Other related blog posts/links mentioned in this episode:

• Paychecks and Balance Podcast
• Marcus' book: Debt free or die trying
• 15 Minute Budget
• Paychecks & Balances podcast episode 68: Don't Cost Yourself $600K
• Bank Rate Cost of living Calculator
• CNNMoney's Calculator
• DigitPaychecks and Balances video with CBS
• Leave me a voicemail- Leave me a question on the Journey To Launch voicemail and have it answered on the podcast!
• Watch me on News12 Watch my latest segments on News12
• My One on One Money Coaching Services - Get my personalized 1on1 money coaching expertise to help you reach your financial goals

Connect with Marcus & Rich:

• Marcus' info
  • Twitter
  • Instagram
• Rich's info
  • Twitter
  • Instagram
• Paychecks and Balances:
  • Twitter
  • Facebook

Connect with me:

• Journey To Launch Instagram
• Journey To Launch Twitter
• Journey To Launch Facebook Page
• Join the private Facebook Group

Chris Guillebeau is on a mission to help people start their own side hustles so that they can create more security, freedom and opportunities in their lives. Side Hustles are becoming more and more the norm nowadays as people look for a way to supplement their job with extra income. These hustles consist of building an asset with the purpose of providing some kind of return and benefit to a customer.

Chris is currently on a 100 city tour and gives regular talks on the process of creating side hustles for people who want some extra income but don't want to quit their day job. He is an avid traveler and a successful entrepreneur with huge experience dealing with side-hustles.

I was honored to have Chris on the podcast to talk about his new book: 'Side Hustle: From idea to income in 27 days', his podcast Side Hustle School and his two-step process when starting a side-hustle: getting an idea and putting this idea into action.

We also talked a bit about MLMs and some mental blocks people have when starting a side hustle. An interesting and informative interview for those looking to increase their income with a side-hustle!

Here are the main topics we talked in the episode

• Chris' introduction
  • His backstory
  • How he got started with side hustles
  • Why he focuses more on income than expenses

• Why everyone should start a side hustle
  • Why it's empowering
  • Side hustles create freedom
  • The necessity of a side-hustle

• The difference between a side hustler and an entrepreneur
  • Side hustles supplement a job
  • Side hustles are not about scaling and raising capital
  • The importance of the money, mindset and goals

• Parts of starting a side hustle
  • The two parts: having an idea and taking action
  • Starter ideas and next level ideas
  • The gig economy
  • Examples of starter ideas

• Side hustle blocks
  • Time and money
  • The minimal costs
  • The importance of planning and creating a process

• The next step after having an idea
  • Understanding what form it will take
  • Analyzing your audience
  • Using your expertise

• MLM's
  • Being part of a supportive group
  • Why it's better to create your own asset

Other related blog posts/links mentioned in this episode:

Chris Guillebeau's book Side Hustle: From idea to income in 27 days

Udemy - An online learning and teaching marketplace

Grab your seat at the Budget Boot Camp

Leave me a voicemail- Leave me a question on the Journey To Launch voicemail and have it answered on the podcast!

Watch me on News12 Watch my latest segments on News12

My One on One Money Coaching Services - Get my personalized 1on1 money coaching expertise to help you reach your financial goals

Connect with Chris on:

• Twitter
• Facebook
• Instagram
• Podcast: Side Hustle School
• chrisguillebeau.com

Connect with me:

• Journey To Launch Instagram
• Journey To Launch Twitter
• Journey To Launch Facebook Page
• Join the private Facebook Group

The simple wealth formula can be defined as Income -Expenses = The Gap. You use the gap to get ahead in your finances by paying off debt, saving more and investing more. Essentially, you want to increase The Gap as much as possible in order reach your goals faster.

But that's not all there is to the Wealth Formula. There are other silent but important factors needed in order to make it really work for you. You can call these factors, the secret sauce. Without focusing on these factors, reaching your goals is so much harder and even somewhat impossible.

The Five "Secret Sauce" Factors are:

• Intrinsic Motivation
• Habits
• Beliefs
• Consistency
• Hard Work/Sacrifice

I've since even modified the Simple Wealth Formula to include what I think is a true driving force of how fast you can reach and maintain your goals to be: (Income - Expenses) * Habits = The Gap

Also, this episode is brought to you by the Free MasterClass that I'm holding Thursday, Jan 4th at 9pm EST. If you haven't signed up yet, don't worry, there's still time, join here

Other related blog posts/links mentioned in this episode:

Reserve Your Seat at The Free LIVE MasterClass on January 4th at 9pm EST: How To Have Your Best Financial Year Yet

Sign up for the 2018 Q1 Launch To Financial Freedom Mastermind (enrollment is from January 4, 2018 to January 8, 2018)

Grab your seat at the Budget Boot Camp

Leave me a voicemail- Leave me a question on the Journey To Launch voicemail and have it answered on the podcast!

Watch me on News12 Watch my latest segments on News12

My One on One Money Coaching Services - Get my personalized 1on1 money coaching expertise to help you reach your financial goals

Connect with me:

• Journey To Launch Instagram
• Journey To Launch Twitter
• Journey To Launch Facebook Page
• Join the private Facebook Group