The Money Millhouse

Do you want to earn some extra cash? Today on the show, Tom Drake talks about side-hustling apps people can use to make money. Before he comes in, Bethany and Ellie talk about Bethany's trip to Disney World and her Star Wars 5k experience. 

Bethany also offers to send a post card from her coffee subscription. Continuing their conversation from last week, Bethany and Ellie also talk about interview prep and steps you can take to ace any interview. 

Tom Drake of Maplemoney.com comes into The Money Millhouse sharing apps to help save money: 

Uber (drive people)

UberEats (deliver food)

AirBnb (rent your house)

Turo and Outdoorsy (rent your car/rv)

Rover (walk dalks / dogsitting)

TheIPKID and SayABC (english tutor)

Etsy (turn craft hobby to income)

Fiverr (do almost anything)

FreeeUP and Upwork (freelance)

Zazzle and CafePress (design shirts, mugs)

Teachers Pay Teachers (sell lesson plans)

Siteground (start a blog)

Sell on Amazon (MYQHJ)

Resources: 

Atlas Coffee Club

Maplemoney.com

Job Interview Cheat Sheet

Are you self employed and need help with taxes?

In this special episode of Drinks with Darbi, Bethany and Ellie talk about taxes when you are self-employed. They talk about setting up a separate tax account so you will be ready when it comes time to pay your taxes. They also talk about automating savings with an app like Digit or Albert, and they also suggest to not skip your quarterly taxes. 

Darbi joins the Money Millhouse and they discuss the difference between deductions and write-offs. They talk about keeping expenses organized and what expenses you may not know are tax deductible. They also give several tools and apps that can help when it comes to filing taxes as well as ways to keep track of write-offs. 

Bethany and Ellie finish the show discussing deductions and write-offs, but also suggest to double check your tax documents so you aren't paying more or less than you should be. 

Resources: 
How to Avoid a Huge Tax Bill When You're Self Employedby Carrie Smith Nickelson 

Saving Apps: 
Digit
Albert

Freshbooks
Expensify
Mile IQ
Quickbooks self-employed
Turbo for self-employed

It's Valentine's Day in August! We revisit the episode from Valentine's Day and enjoy the conversation with Jennifer McDermott again. Join us Sept 2 for brand new episodes and Season 3!

Bethany and Ellie have a special episode for Valentines Day! They share inexpensive ways for you to celebrate Valentines Day even if you aren't in a relationship! Bethany also shares how Valentine's Day is not always fun for people (she was also dumped the day before Valentine's Day once). 

They welcome Jennifer McDermott, the Consumer Advocate at personal finance comparison website, finder.com. She shares fascinating statistics about Valentine's Day and the money spent not only on the holiday, but specifically on fur-babies as well. 

Join the Money Millhouse for brand new episodes Sept. 2! In the meantime, enjoy this great episode from our archives with Steven M. Hughes of Know Money!

Bethany and Ellie meet at Ellie’s Kitchen Table after having gone on an inexpensive cruise to Mexico. They go over ways people can save money on travel (specifically cruises). Bethany learns how to pronounce gratuities, and how to book a cruise with shipboard credits when booking a cruise. They also tell you the best time to buy spa services on a cruise and when to buy your excursion.

Steven M. Hughes joins the Millhouse discussing the #1 money myth that he things can hold people back in life, especially from a young age. He says that money gives you the ability and options, and that the "lack of money is the root of all evil." He shares about the work he is doing to teach college students about money. He shares the biggest challenge he sees when teaching young adults, and he gives the specific goal he made when he was in college (which was increasing his credit score by 315 points). 

Steven answers the question about what Millennials have learned about money from their parents. Bethany shares the difference she sees with Millennials changing jobs more often than the previous generation. Steven says how this could help when done intentionally. They shift gears to discuss credit scores and what he sees in regards to college students. He shares about the mistakes he made in college and what he did to increase his credit score when he graduated. 

Steven also addresses the racial divide when it comes to the financial resources available to a household for a black family versus those available to white families. In a study done recently, the average net worth of a white family is $140k where the average for a black family was $11k. Steven works with students of color at colleges and universities with success programs for students learning financial education. Know Money, Steven's company, is actively fighting financial illiteracy in the black community though his programs and events geared to students of color. They just launched the Bank Roll Summit, which will kick off April 3rd in Columbia, South Carolina.

Resources:

viator.com

Groupon

Bankroll Summit

Know Money Inc

 

Brand new episodes coming September 2nd! In the meantime, listen to part two of The Book Within with Steve Laube.

Steve Laube joins The Money Millhouse for another episode centered around writing a book, this time they focus on the money side of writing a book. Steve debunks the myth that authors make a lot of money. Before he arrives in the Millhouse, Bethany and Ellie go over The Keys to a Great Proposal from SteveLaube.com, including what points should make up your book proposal when thinking of writing a book.

When Steve joins the conversation, he shares how many books he reads both for work and for fun. He debunks the myth that authors make a lot of money, and says writing a book is a tool for expanding your ideas, not a means of making money. Ellie asks what the average advance (money one is paid before the book is published) for people published with a royalty based publisher, where Steve says there is a wide range when it comes to this and it depends on the publisher. He also gives practical examples of how someone can use a book to make money that may not be directly from book sales (i.e. speaking, back of room book sales at events, periodicals and magazines, etc.). Ellie also shares another income stream called Brand Ambassador work, which also lead to media. All of these streams are because of the initial book. They then talk about tax deductions and expenses that authors can count towards their taxes and what writers can forget they can write off (with the reminder to continually check with your tax expert to make sure you are making the best moves when it comes to your taxes and being above the law).

Ellie remembers a saying Steve said early in her career is the idea of goodwill coin (16:52), and how people can be branded as “hard to work with.” They also discuss practical ways we can earn goodwill coin by being respectful of people’s time and expertise. They also clarify what Ellie meant when

Bethany and Ellie end the show talking about “goodwill coin” again. They also talk about ways they each help each other in the space and maintaining goodwill coin when sending emails, especially when it comes to burning bridges or using up all their goodwill coin. They also finish the last few pieces of The Keys to a Great Proposal.

Resources:

stevelaube.com

preditorsandeditors.com

In this special show from the archives, Bethany and Ellie discuss how some people’s goal for 2019 is to write a book. Since Ellie has written 15 books, she has a little bit of expertise in this area. Bethany asks if people should write a book because they want to make a lot of money, and Ellie explains why that is a misconception. Bethany explains how she has known their guest since she was 8 years old. Ellie then talks about the “why” someone should write a book, and Bethany explains how she failed her childhood dream of being published at the age of 13. She also talks about the title of a book she wanted to write a few years ago that isn’t the best idea for a book title.

Steve Laube, literary agent and the president of The Steve Laube Agency, comes into the Millhouse talking abut the unsolicited book proposal Ellie had sent over to his publishing house 20 years ago, and then how they became friends. Ellie asks Steve a very difficult (trick) question, and Bethany asks Steve how long he has been in the business. He explains his journey to becoming a literary agent and founding his own agency. Steve talks about where people start when they want to start writing a book. He also explains what an agent does to help direct their career, and gives valuable resources to give practical help to the writer. Steve talks about a proposal, and the difference between a proposal for a fiction vs. non-fiction book. They also talk about the difference between self-publishing and royalty based (aka traditional) publisher. Steve gives a warning about self-publishing services, and gives a resource that will help you find the right people to help you in the self-publishing world.

Bethany and Ellie end the show inviting The Money Millhouse next week for part 2 of writing a book because there is such a wealth of information when it comes to this topic. Ellie discusses what should come first: the publisher or an agent and how all the magic happens at writers conferences. Bethany talks about how conferences fueling the fire of passion and motivation. She also tells the story of their producer/editor, Darbi, and how the investment of a conference lead to a job, and even changed her life.

Resources:

stevelaube.com

preditorsandeditors.com

 

 

Bethany and Ellie start the show talking about Goal Setting and how we should start thinking about 2019’s goals right now. Ellie says that 92% of people never achieve their goals, and Bethany says she is apart of the other 8% that has. They discuss how those who accomplish their goals set specific goals that are challenging (but are not too hard), and are passionate about their goals to committed to the end. They also discuss that people who accomplish their goals use feedback to stay on track, and that receiving feedback doesn’t mean that you are a terrible person. Instead, feedback helps us get better.

Chris Hogan joins the show discussing the importance of investing, and thinking about the future. He is hearing from a lot of people who wish they could go back and do things for themselves in the past. He wants to help people understand that small steps now can give themselves an advantage for down the road. He also gives great tips for having a plan when it comes to money by “giving every dollar a name.” Chris talks about how money will listen, and how we can have the right kind of knowledge to control it. They revisit the “why” of saving and how to respond when life and emergencies happen. If we aren’t prepared for emergencies, it can steal your joy, which is why Chris stresses the importance of an Emergency Fund. He walks through what would have happened if Bethany didn’t take from her emergency fund a couple months ago, and how it could have lead to more stress.

Chris gives practical advice of how we can take our financial pulse. He advises having a plan during the holiday season so we don’t have a holiday hangover. Set a holiday budget and assign a dollar amount to each person. When the money is gone, you are done—go home. Chris also gives a sneak peak into his new book, Everyday Millionaire. Chris also gives great advice to couples and discussing money with a spouse, including dreaming together.

Resources:

Emperor Investments is a female led, online investing platform.  With the help of technology, this platform custom builds you equity portfolios that are designed to help achieve your goals. To learn more and get your first six months of automated investing for free, visit themoneymillhouse.com/emperor.

To order Chris Hogan's new book in time for the New Year, visit https://www.chrishogan360.com or find him on Amazon.

   

Bethany and Ellie return from a break for their very first show of 2019. They are very excited and optimistic for the New Year, and they share 6 Ways to Beware and Prepare for the New Yearwith The Money Millhouse!

Rachel Cruze joins the show discussing New Year’s Resolutions and some great ways to be practical about goals and goal setting. They discuss ways people can go about developing better habits, and teaching those habits to their kids as well. Rachel shares how “more is caught than bought” when it comes to teaching kids money. She also says it is important to have tangible, “quick wins” when it comes to anyone’s money journey. Ellie talks a little bit about how she wouldn’t let her kids borrow on their allowance because it would create bad work habits, and Rachel shares her views on allowances. She also talks about how to teach kids to have ‘skin in the game’ by having their kids earn their own money. Bethany tells a story about when she was a little girl and earned half of an American Girl doll and what it meant to her.

Resources:

6 Ways to Beware and Prepare for the New Year

National Consumer Credit Counseling Service 

NFCC

Military Family Advisory Network and MilCents

Join the Money Millhouse for one of their favorite episodes of season 2. Be sure to come back September 2 for all new episodes and season 3 of The Money Millhouse!

Ellie and Bethany start the show talking about the idea that money can buy happiness. Even though people know money cannot really buy happiness, many people live like it can. Bethany shares techniques she and her husband use when it comes to Bethany’s impulse buys, as well as brands Ellie chooses to splurge on.

Kiné Corder, a best selling author, international speaker, and psychotherapy specializing in financial therapy, joins The Money Millhouse discussing financial therapy. She shares the designations a financial counsellor must have to help in this area, as well as what qualifies someone to be a financial therapist. Bethany asks about the marriage aspect of this topic, and Kiné explores the past money history and programming everyone has when coming into a marriage.

Kiné also explores money personalities/mentality people are prone to, and if people are able to change. She shows Ellie and Bethany techniques people can implement in order to play on strengths in a relationship, including Awareness, “Money Day,” “No Money Day,” and having a Money Challenge or Competition. They end their conversation on the topic of prosperity, and what things can block a prosperity mindset.

Resources:

Money Mentality Quiz and Video from Kiné

Prosperity Report “Love & Money” podcast

Quiet: The Power of Introverts in a World That Can't Stop Talkingby Susan Cain

The 5 Love Languages: The Secret to Love that Lastsby Gary Chapman

Enjoy a favorite episode of Season 2 with Roger Whitney, AKA the Retirement Answer Man! Stick around till the end for a special behind the scenes look at what it was like recording this episode!

Bethany and Ellie have a cup of coffee at Ellie Kay's table discussing the season and how it is Bethany loves being cold this time of year. Bethany and Ellie remember a time when Ellie purchased a red coat in Canada, and how she didn't tell the truth in a certain instance. Ellie and Bethany discuss fears and how it can stop us from doing what we want to do. They talk about things that had scared them recently that they had to do, including Ellie connecting in Istanbul and almost missing her flight.

Roger Whitney, The Retirement Answer Man, joins the Millhouse discussing retirement. Ellie challenges Roger to give the answer to retirement in 30 words or less. Roger explains it is important to not check out of life when it comes to Retirement. He encourages Bethany and Ellie to look at it in a new way that may not be traditional. Roger explains why he is excited for the Millennial Generation, and how they are able to change their perspective when it comes to retirement. He gives a practical way that financial advice industry has not caught up to the way we live our lives right now. He gives the two most important investments we could make in our future that could open up a lot of flexibility. They also talk about student loan debt and different ways to invest in our skills. Bethany asks if traditional saving for retirement is still important, and Roger gives reasons why we shouldn’t ignore that.

Resources:

Managing Your Lifestyle Workbook