Welka Wealth Podcast

Managing the finances of your business begins with creating a budget but many owners overlook this essential part of the process. Let's talk about why this might be the difference in success and failure and what steps you can put in place to begin operating on a budget.

Read more and get additional financial resources here: https://welkawealthpodcast.com/ep-8-running-your-business-on-a-budget/206/  

Today's show schedule: 

0:28 – Every business owner should be operating on a budget.

1:21 – Budgeting helps you trim over-resourced areas.  

1:44 – It's going to help you plan for the future of your business.

2:18 – If you aren't tracking spending and return on investment, you won't know how efficient you are.  

3:37 – What about seasonal businesses?

4:09 – Here's the easiest way to start a budget.

5:58 – Don't miss out on your goals and dreams.

6:52 – The Bible verse for this episode.

Many people have dreams of opening their own business and creating a life that they have full control over. But that goal isn't easy and often times owners make key financial mistakes that end up costing them their business. Let's talk about why it's so important to know your numbers and how you can accomplish that.

Read more and get additional financial resources here: https://welkawealthpodcast.com/ep-7-the-importance-of-knowing-your-numbers-when-owning-a-business/201/ 

Today's show schedule: 

0:30 – Who this podcast is for.

0:47 – How can you make your business successful? First thing is to know your numbers.

1:57 – The habits that make business owners successful.   

3:53 – Keep a sharp eye on your overhead.

4:41 – How much is it costing you to acquire new customers?  

5:55 – The steps to building a strong financial business.

6:44 – What to invest in to strengthen your company.

7:17 – Making it a priority to build a business where the love of God is reflected.

Tiffany has an exciting announcement to share about a new role she's taking with a non-profit, which that got her thinking about why we all struggle with building a budget that includes giving. What can you do to create a spending plan that aligns with your values?

Read more and get additional resources here:

Today's Show Schedule:

0:40 – Tiffany is excited about a new endeavor as treasurer for the PB&J Outreach

1:04 – How PB&J Outreach got started.

2:43 – He brought the idea back to Detroit but had to find the right location.  

4:30 – It feels to give back but why is that always the last thing on our budget?

5:13 – How to determine how much you can give each month.  

6:07 – If you have a surplus each month, think about how you can give it meaning.  

6:59 – Your spending plan and finances should reflect your values.

8:22 – This week's Bible verse

As a SmartVestor Pro, we work closely with Dave Ramsey and financial strategies. One that we often point newer investors to is the 7 Baby Steps and we'll lay them out for you on this episode.

Read more and get additional resources here: https://welkawealthpodcast.com/ep-5-dave-ramseys-7-baby-steps/184/ 

Today's show schedule: 

0:31 - Background on Dave Ramsey

1:18 - 1st step: Create a starter emergency fund

1:33 - 2nd step: Pay off all your debt except your home.

1:46 - 3rd step: Save a fully-funded emergency fund

2:18 - 4th step: Save 15% of income into retirement.

2:27 - 5th step: Save funds for your children and their education.

2:35 - 6th step: Pay off your house early.

2:50 - 7th step: Build wealth and give back.

3:25 - Here's how to get the 7 steps emailed to you.

3:35 - Reviewing these steps reminds me of a Bible verse.

We've all felt some type of fear during this pandemic and it's okay to talk about that. What we want to do on this episode is talk about how to repurpose that fear into a positive and share a messages of strength and hope.

Read more here: https://welkawealthpodcast.com/ep-4-fear-not-turning-that-fear-into-a-positive/179/ 

Today's show rundown: 

0:39 – One of our core values is fear not.  

1:43 – Stock market parallels to 1987 and 2008.

2:20 – We don't know what will happen in 2020.

3:02 – My mother is my inspiration.

3:33 – Your best innovation can come from your limitations.  

4:10 – The lesson we can learn from Easter.

5:16 – A final message about fear.  

We're all adjusting to new ways of living each day and a lot of the difficulty comes on the financial side. When will be on the other side of this crisis and what can be done now to help us improve our situation? Tiffany will explain how inspiration and motivation can be found in experiences of the past.

Read more and get additional resources here: https://welkawealthpodcast.com/ep-3-using-the-past-to-navigate-the-present/174/ 

Today's show rundown: 

0:41 - We're all living differently right now.

1:26 - We continue to look for answers to the following questions.

2:15 - The action in the market tells us it's distressed but the Fed is working quickly to help. 

2:48 - Many people forgot how bad things could get during a financial crisis like this. What changes will you make moving forward?

4:00 - In the season of Lent, thinking back on what Jesus endured is motivation during these difficult times.

5:17 - Remembering what happened in the past will help you prepare for what's to come.

We're all anxious and concerned over our investments as the coronavirus crashes financial markets, but now is the time to step back and refocus. Let's talk about how you can take this extended period at home and with your family to heal your spirit and your heart, which will lead to a positive result when the pandemic passes.

Read more and get additional resources here: https://welkawealthpodcast.com/a-time-of-healing-and-refocusing/152/ 

Today's rundown: 

0:43 - How can you invest with in intent during the uncertainty of the pandemic?

1:59 - How will consumer spending change after the things return to normal?

2:48 - Many people are fearful and anxious about their investment strategies right now. Use this time to set goals. 

3:51 - Take a contrarian view on investing. 

4:15 - Pay attention to certain sectors.

5:00 - Today's gospel reading.

5:51 - Heal your spirits and your heart during this time at home and work towards a positive result when this pandemic is over.

Welcome to the debut episode of the Welka Wealth Podcast. Before we get into our weekly discussions on finances, let's introduce you to the host of the show. Tiffany will share a little about herself, her family, and the mission for the podcast.

Read more and get additional resources here: https://welkawealthpodcast.com/let-there-be-light-an-introduction-to-the-podcast/129/

Today's rundown:

0:54 - A little about myself and our company. 

1:39 - Why community is so important in our lives.

2:16 - Financial Harmony

2:49 - Why I love talking about finance.

3:13 - Meet my family

4:15 - My vision for this podcast

Invest With Intent. That's the motto of Tiffany Welka and the Welka Wealth Podcast. We believe that investing in companies and products that align with your faith, morals, and goals is what makes your financial plan a true success.

And that's the spirit we'll try to capture each week with every interview and episode. Join us as we interview financial, faith and business leaders in the community and get great guidance directly from Tiffany.

This episode is just a quick teaser to give you a small taste of the tone and guidance that's on the way soon from Tiffany. The podcast launches in April, so come check it out and subscribe on your favorite app!