Wealth Witches

Today we’re going to discuss recession, what it is, and what to do during one. Spending is down, the stock market isn’t performing, inflation is out of control, interest rates are higher than we’ve seen since 1994, and we feel the effects everywhere in the economy and not just in the US. 

It comes down to how we’re each living our lives financially. Do we have enough built up in our savings? Can we decrease spending on wants so that needs can be met?

Some common things that happen during a recession are:

• Inflation goes up
• Consumer spending goes down
• Hiring slows down and may even freeze
• Many people decide to go back to school
• Unemployment goes up

In 2008, when the housing market crashed housing prices massively decreased. It doesn’t look like that will happen this time. We have already been through a global pandemic which has changed the economic situation dramatically, so many of us are still trying to recover from that. Only time will tell what happens from here.

My guest Brock is our tax strategist here at The Freelance CFO. Join us next week for part 2 where we’ll walk you through some anxiety reducing measures to help you through this difficult time.

We cover ALL of this in the “Get Your Finance Sh*t Together” self-study course at confidentmoneypodcast.com!

Join our community at confidentmoneypodcast.com where we’ll share tips and resources, and you can suggest topics for future episodes.

Enter to win a free strategy session with me!  Leave a 5-star review and include your IG handle to enter. We draw the winner at the beginning of each month. 

FTC/Affiliate Disclaimer: By using some of these links, at no extra cost to you, I may earn a small commission or referral fee, which helps me continue to produce content like this, support my business, and my team.

DISCLAIMER: I am not a financial advisor and this is not financial advice. My podcast is for educational purposes and is my personal opinion only. To make the best financial decision for your situation, please do your own research and if needed, seek the advice of a fee-based, fiduciary.

Music credit: Neon Fairies by Wolves 

A Podcast Launch Bestie production

Most things in life move in seasons. For me, that includes my business and work/life balance. In this episode, I’ll talk about the seasonality of my business, the way I’m feeling right now, and how my life balance shifts with the seasons.

I have built my business so that there’s a busy season, a rest season, and gearing up, and during some months we work more than others. I’ve tracked my cycles so that I do my creative work during certain weeks and keep my client calls during the other weeks. I allow my team to shift responsibilities as our work evolves, and I encourage them to make sure they’re resting and taking their vacation time.

Where are you noticing cyclical or seasonal changes in your life or business? How are you implementing changes within those?

We cover ALL of this in the “Get Your Finance Sh*t Together” self-study course at confidentmoneypodcast.com!

Join our community at confidentmoneypodcast.com where we’ll share tips and resources, and you can suggest topics for future episodes.

Enter to win a free strategy session with me!  Leave a 5-star review and include your IG handle to enter. We draw the winner at the beginning of each month. 

FTC/Affiliate Disclaimer: By using some of these links, at no extra cost to you, I may earn a small commission or referral fee, which helps me continue to produce content like this, support my business, and my team.

DISCLAIMER: I am not a financial advisor and this is not financial advice. My podcast is for educational purposes and is my personal opinion only. To make the best financial decision for your situation, please do your own research and if needed, seek the advice of a fee-based, fiduciary.

Music credit: Neon Fairies by Wolves 

A Podcast Launch Bestie production

During this little mini-season I’m talking about topics that have impacted me personally. Today’s topic is a tough one: setting boundaries.

If you’re not used to setting boundaries, it may be difficult to do and enforce. You may set one too far one way and have to back it off because it’s not sustainable. It’s okay for boundaries to shift depending on what season of life and work you’re in. 

Realistic boundaries can look like setting your client work days, turning off your phone overnight, using your paid vacation time and not letting yourself work while you’re off, or it may even look like changing jobs when the company you work for doesn’t respect your time. 

It’s okay, and necessary, to set healthy boundaries for your life and for your business.

We cover ALL of this in the “Get Your Finance Sh*t Together” self-study course at confidentmoneypodcast.com!

Join our community at confidentmoneypodcast.com where we’ll share tips and resources, and you can suggest topics for future episodes.

Enter to win a free strategy session with me!  Leave a 5-star review and include your IG handle to enter. We draw the winner at the beginning of each month. 

FTC/Affiliate Disclaimer: By using some of these links, at no extra cost to you, I may earn a small commission or referral fee, which helps me continue to produce content like this, support my business, and my team.

DISCLAIMER: I am not a financial advisor and this is not financial advice. My podcast is for educational purposes and is my personal opinion only. To make the best financial decision for your situation, please do your own research and if needed, seek the advice of a fee-based, fiduciary.

Music credit: Neon Fairies by Wolves 

A Podcast Launch Bestie production

Welcome back! I had intended to only take a week off between seasons, but I realized that I had placed too many expectations on myself. That’s what I’m going to talk about in this episode.

As businessowners especially we tend to set high intentions for ourselves. There’s a time and place for that, like tax season in my business, but there also need to be seasons of rest. 

Where have you been placing unrealistic expectations on yourself? Are you allowing yourself to rest? 

We cover ALL of this in the “Get Your Finance Sh*t Together” self-study course at confidentmoneypodcast.com!

Join our community at confidentmoneypodcast.com where we’ll share tips and resources, and you can suggest topics for future episodes.

Enter to win a free strategy session with me!  Leave a 5-star review and include your IG handle to enter. We draw the winner at the beginning of each month. 

FTC/Affiliate Disclaimer: By using some of these links, at no extra cost to you, I may earn a small commission or referral fee, which helps me continue to produce content like this, support my business, and my team.

DISCLAIMER: I am not a financial advisor and this is not financial advice. My podcast is for educational purposes and is my personal opinion only. To make the best financial decision for your situation, please do your own research and if needed, seek the advice of a fee-based, fiduciary.

Music credit: Neon Fairies by Wolves 

A Podcast Launch Bestie production

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Today I have Emily with me and she’s going to help us talk through some scenarios and possible personal financial blueprints from real life examples. 

We’re going to look at the goals for each family, prioritize those, and outline some recommendations I have to help move them forward.

We’ll talk about some possible plans for:

• Jason, married, 27, no kids, plans to buy vehicles and rental property, and have some investments
• Heidi, married, 45, no kids, plans to be semi-retired by 55 and live near the water, pay off house by age of 50
• Cassie, married, 29, no kids, currently renting and looking to purchase a home and possibly a rental property, 

We cover ALL of this in the “Get Your Finance Sh*t Together” self-study course at confidentmoneypodcast.com!

Join our community at confidentmoneypodcast.com where we’ll share tips and resources, and you can suggest topics for future episodes.

Enter to win a free strategy session with me!  Leave a 5-star review and include your IG handle to enter. We draw the winner at the beginning of each month. 

FTC/Affiliate Disclaimer: By using some of these links, at no extra cost to you, I may earn a small commission or referral fee, which helps me continue to produce content like this, support my business, and my team.

DISCLAIMER: I am not a financial advisor and this is not financial advice. My podcast is for educational purposes and is my personal opinion only. To make the best financial decision for your situation, please do your own research and if needed, seek the advice of a fee-based, fiduciary.

Music credit: Neon Fairies by Wolves 

A Podcast Launch Bestie production

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Join our community at confidentmoneypodcast.com where we’ll share tips and resources, and you can suggest topics for future episodes.

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I came from a family with a lot of limiting beliefs around money. Rich people were considered bad, greedy, and evil. When my deep-seated belief was that I always had enough money, then I always had just enough money. In working through that, I realized that I was energetically unavailable for the abundant overflow of money that I desired.

Basically, the brain can’t tell the difference between visualizations and memories. That’s why visualization exercises can be so effective. 

Are you feeling that you’re not quite worthy to have more than enough? Have you accepted that “people won’t pay that much for this?” Whatever comes up, ask yourself why and dig deeper. Where can you disprove that theory? Find someone who does charge that much for that service and use them as proof of what could be. Practice gratitude because the more you notice things to be grateful for, the more you will find.

We cover ALL of this in the “Get Your Finance Sh*t Together” self-study course at confidentmoneypodcast.com!

Join our community at confidentmoneypodcast.com where we’ll share tips and resources, and you can suggest topics for future episodes.

Enter to win a free strategy session with me!  Leave a 5-star review and include your IG handle to enter. We draw the winner at the beginning of each month. 

FTC/Affiliate Disclaimer: By using some of these links, at no extra cost to you, I may earn a small commission or referral fee, which helps me continue to produce content like this, support my business, and my team.

DISCLAIMER: I am not a financial advisor and this is not financial advice. My podcast is for educational purposes and is my personal opinion only. To make the best financial decision for your situation, please do your own research and if needed, seek the advice of a fee-based, fiduciary.

Music credit: Neon Fairies by Wolves 

A Podcast Launch Bestie production

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Join our community at confidentmoneypodcast.com where we’ll share tips and resources, and you can suggest topics for future episodes.

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Decades ago, the standard career track looked like staying in the same company, climbing the ladder, for the entirety of your career. That’s not very realistic anymore. For many of us, we get itchy to move on after a few years. 

That can actually work to your advantage. When you get a new job offer, I believe you should always, always negotiate. You’re in the strongest position to negotiate when you have a current employer, plus it’s more of a safety net for you. Job hopping can open up some unique educational and growth opportunities that you otherwise wouldn’t get from staying at the same company.

You don’t owe your employer future projects. If the arrangement isn’t mutually beneficial anymore, it’s okay to move. Pay, benefits, leave, title, all of these are negotiable.

Make sure you’re following us on Instagram because soon we’ll have some cool group offerings coming out and we’ll be going deeper into some negotiating scripts that you can use with your employers.

We cover ALL of this in the “Get Your Finance Sh*t Together” self-study course at confidentmoneypodcast.com!

Join our community at confidentmoneypodcast.com where we’ll share tips and resources, and you can suggest topics for future episodes.

Enter to win a free strategy session with me!  Leave a 5-star review and include your IG handle to enter. We draw the winner at the beginning of each month. 

FTC/Affiliate Disclaimer: By using some of these links, at no extra cost to you, I may earn a small commission or referral fee, which helps me continue to produce content like this, support my business, and my team.

DISCLAIMER: I am not a financial advisor and this is not financial advice. My podcast is for educational purposes and is my personal opinion only. To make the best financial decision for your situation, please do your own research and if needed, seek the advice of a fee-based, fiduciary.

Music credit: Neon Fairies by Wolves 

A Podcast Launch Bestie production

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Join our community at confidentmoneypodcast.com where we’ll share tips and resources, and you can suggest topics for future episodes.

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A lot of what I do is making personal finances personal. I don’t agree with financial gurus that sell you their step-by-step programs because they don’t take personal goals and circumstances into account. I’m going to give you several different options for you to try out and use whatever works best for you. 

1. Decide your time frame. What feels lightest for you?
2. Prioritize 2 goals for that time frame, then work backwards. What can you be doing today to move forward?
3. Look at overall income. Are you bringing in enough to support those goals?

We cover ALL of this in the “Get Your Finance Sh*t Together” self-study course at confidentmoneypodcast.com!

Join our community at confidentmoneypodcast.com where we’ll share tips and resources, and you can suggest topics for future episodes.

Enter to win a free strategy session with me!  Leave a 5-star review and include your IG handle to enter. We draw the winner at the beginning of each month. 

FTC/Affiliate Disclaimer: By using some of these links, at no extra cost to you, I may earn a small commission or referral fee, which helps me continue to produce content like this, support my business, and my team.

DISCLAIMER: I am not a financial advisor and this is not financial advice. My podcast is for educational purposes and is my personal opinion only. To make the best financial decision for your situation, please do your own research and if needed, seek the advice of a fee-based, fiduciary.

Music credit: Neon Fairies by Wolves 

A Podcast Launch Bestie production

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Join our community at confidentmoneypodcast.com where we’ll share tips and resources, and you can suggest topics for future episodes.

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In this culture of hustle and burnout, it’s easy to forget to have fun, plan time off, and have boundaries. There’s a time for “responsibility” and a time for YOLO.

You have your own YOLO, treat yourself things. They look different for everyone, especially considering where you are with your business and financial situation. It may be like when I started scheduling one facial treatment a quarter. Maybe it’s a weekend away, and it’ll evolve over time.

Pick at least one, preferably a few, of your favorite self care activities, earmark some money and schedule the time for yourself. Prioritizing that now makes it a habit that helps you be rewarded and taken care of in the here and now. 

One thing to be careful about is impulse spending. Prioritize spending into a Punett square of need and time sensitivity. If it’s needed and urgent, and your finances allow, buy the thing. If it’s needed and not time-sensitive, maybe make a savings plan for it. If it’s a want and not urgent, leave it in your cart and if you’re still thinking about it in a week or 2, then go for it. 

Prioritize.

Consciously spend in an aligned manner.

Plan in taking care of yourself.

We cover ALL of this in the “Get Your Finance Sh*t Together” self-study course at confidentmoneypodcast.com!

Join our community at confidentmoneypodcast.com where we’ll share tips and resources, and you can suggest topics for future episodes.

Enter to win a free strategy session with me!  Leave a 5-star review and include your IG handle to enter. We draw the winner at the beginning of each month. 

FTC/Affiliate Disclaimer: By using some of these links, at no extra cost to you, I may earn a small commission or referral fee, which helps me continue to produce content like this, support my business, and my team.

DISCLAIMER: I am not a financial advisor and this is not financial advice. My podcast is for educational purposes and is my personal opinion only. To make the best financial decision for your situation, please do your own research and if needed, seek the advice of a fee-based, fiduciary.

Music credit: Neon Fairies by Wolves 

A Podcast Launch Bestie production

Mentioned in this episode:

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Join our community at confidentmoneypodcast.com where we’ll share tips and resources, and you can suggest topics for future episodes.

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More than ever before, it’s important to put a plan in place to make you feel financially secure, even with all the uncertainty all around us right now. Personally, I’m working towards being “work-optional” in the next 15 years. I want to have enough cash-flowing assets that my living expenses are covered, not needing to touch retirement accounts, and whatever work I do is gravy.

Depending on where you are in life right now, your steps probably aren’t the same as mine. Maybe you’re just getting started on retirement, maybe you’re in survival mode and can’t be putting a bunch of money away into savings right now. 

Give yourself grace. There’s no sense in shaming yourself.

How to get started on a savings plan:

1. Start really small. Pick no more than 2 savings goals. Automate whatever you can towards that.
2. Check in every few months and see if you can fit larger contributions into your anti-budget right now or not. Maybe your goals will change, too.
3. If you get a raise or take a better-paying job, split your raise amount 50/50 so that you can enjoy your money as well as bump up your savings.

There’s no sense to be depriving yourself of everything you love right now just for the future. Strike a balance between deprivation and YOLO. Set goals that make you feel safe and taken care of, and start there.

We cover ALL of this in the “Get Your Finance Sh*t Together” self-study course at confidentmoneypodcast.com!

Join our community at confidentmoneypodcast.com where we’ll share tips and resources, and you can suggest topics for future episodes.

Enter to win a free strategy session with me!  Leave a 5-star review and include your IG handle to enter. We draw the winner at the beginning of each month. 

FTC/Affiliate Disclaimer: By using some of these links, at no extra cost to you, I may earn a small commission or referral fee, which helps me continue to produce content like this, support my business, and my team.

DISCLAIMER: I am not a financial advisor and this is not financial advice. My podcast is for educational purposes and is my personal opinion only. To make the best financial decision for your situation, please do your own research and if needed, seek the advice of a fee-based, fiduciary.

Music credit: Neon Fairies by Wolves 

A Podcast Launch Bestie production

Mentioned in this episode:

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Join our community at confidentmoneypodcast.com where we’ll share tips and resources, and you can suggest topics for future episodes.

Join Our Membership