Work Your Wealth Podcast

One of the fun parts of being a financial planner is getting to field and answer questions from clients and readers all around the country. In these Work Your Wealth episodes I'll be taking time to address and answer questions I've come across from readers and clients throughout my career. On today's episode, I have a super fun guest to help me answer some of of your money questions. Today Brian Storjohann (yep, my hubby) and I are diving in to tell you about the emotions, stories and good and bad money moves behind our finances.

WHAT YOU'LL LEARN FROM THIS EPISODE:

• The number one thing you need for a healthy money relationship with your partner
• How your personal and marital money relationship can evolve
• The biggest thing the two of us have had to work on when it come to our finances
• His and hers versions of our smartest money moves
• Where we wasted a ton of money
• What lifestyle inflation is and why you want to avoid it
• The biggest point of contention around our finances
• Why financial planners need their own financial planners
• The role psychology plays in handling money
• How we make budgeting work in our household
• What not to do when facing down big life transitions (and what to do)
• Why nobody is perfect when it comes to their finances

LINKS MENTIONED ON THE SHOW:

• Schedule a free 30-minute consultation with me
• Work Your Wealth: 9 Steps to Making Smarter Choices With Your Money
• 9 Steps to Workable Wealth

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HOW DO I FIT DONATIONS INTO MY FINANCIAL JOURNEY?

This week I sat down with entrepreneur, blogger and podcaster, Pat Flynn.

Pat is the crash test dummy of online business. He experiments to find out what works, and what doesn't online. He's a dad and a husband, and the proud owner of SmartPassiveIncome.com, a website dedicated to helping people discover how to do business online and take their existing businesses to the next level.

HERE'S WHAT YOU'LL LEARN FROM THIS EPISODE:

• Why Pat continues to celebrate his "Let Go" Day each year
• How practicing gratitude can impact your life
• How the serve first mentality can influence your path and the relationships you build
• The different forms that Giving Back can take and how you can incorporate in into your personal and professional life
• How and where Pat is pulling inspiration to go bigger and better with his giving back
• How you can involve your spouse and children in your giving back strategy
• Which can be the most impactful – giving back of time or money
• How your passion and charitable giving goals can evolve over time
• If you need to be financially successful in order to begin giving back
• How a separate account for charitable giving can keep you on track with your financial goals
• Why asking the right questions is important to your finances

LINKS WE MENTIONED ON THE SHOW:

• The Five Minute Journal
• Pencils of Promise
• Pat's Website
• Charity Navigator
• FinCon

• This week I sat down with CPA for Creatives, Amy Northard.

  Amy Northard, CPA provides tax preparation and bookkeeping services to creative small business owners. After graduation from Indiana University, and then passing the Certified Public Accountant's exam, Amy began working at a small/mid-sized accounting firm, primarily with small businesses and personal taxes.

  Although she learned a great deal during her time at the firm, she had always felt the pull of entrepreneurship since her days of childhood lemonade stands. Her life-long dream finally came true when she opened Amy Northard, CPA LLC, where she passionately works with creative small business owners all over the US to take the stress out of their creative business taxes.

  HERE'S WHAT YOU'LL LEARN FROM THIS EPISODE:

  • Why ignoring your taxes results in a lack of clarity around what's going on with your finances and your business
  • When it could be okay to have a loss in your business and the view you should have if there's a recurring annual loss in your business
  • Where to start with getting organized with your taxes
  • What paying taxes actually means
  • Strategies to look at in reducing what you own in taxes – this doesn't mean spending more money in your business.
  • When it makes sense to do your own taxes versus working with a tax professional
  • What to keep in mind when it comes to keeping track of your business write-offs
  • How to stop the catch up cycle with your tax
  • Amy's rule of thumb for what to set aside for taxes
  • Business bank accounts you need

  LINKS WE MENTIONED ON THE SHOW:

  • Amy's Website

HOW DO YOU HANDLY MONEY IN YOUR HOUSEHOLD?

One of the fun parts of being a financial planner is getting to field and answer questions from clients and readers all around the country. In these Work Your Wealth episodes I'll be taking time to address and answer questions I've come across from readers and clients throughout my career. Today I'm answering the above question.

WHAT YOU'LL LEARN FROM THIS EPISODE:

• How often to check on your net worth. What's reasonable, and what we do in our house.
• Where to invest your emergency fund
• The categories we have bank accounts for and how we use them
• Options available for retirement savings when you're employed or when you're an entrepreneur
• How a Solo 401(k) vs. a SEP IRA can help you as an entrepreneur
• How we track spending in our house and what works
• How we manage credit cards
• An appropriate level of communication to have with your spouse around money.

LINKS MENTIONED ON THE SHOW:

• Schedule a free 30-minute consultation with me
• Synchrony
• Ally
• Mint
• Work Your Wealth: 9 Steps to Making Smarter Choices With Your Money
• 9 Steps to Workable Wealth

This week I sat down with debt freedom expert, Jackie Beck.

Jackie Beck is the creator of the app store hit Pay Off Debt, an app thats helped more than 46,000 people use a debt snowball to break free from debt. She and her husband paid off over $147,000 in debt, including their house.

HERE'S WHAT YOU'LL LEARN FROM THIS EPISODE:

• How Jackie paid off $147,000 of debt
• What the debt snowball is
• What a realistic timeline is to pay off debt
• Where to start when you're feeling burdened by your debt
• Why you need to get out of a borrowing mentality to stay out of debt
• How creativity can help with paying off debt
• How to save while you're paying off debt and if you need to
• Lifestyle changes you can expect from living a debt free life

LINKS WE MENTIONED ON THE SHOW:

• Jackie's Website

WHAT KIND OF AWKWARD/UNCOMFORTABLE MONEY CONVERSATIONS AND COMMENTS SHOULD I BE ON THE LOOKOUT FOR WITH FRIEND AND FAIMLY AND HOW SHOULD I HANDLE THEM?

One of the fun parts of being a financial planner is getting to field and answer questions from clients and readers all around the country. In these Work Your Wealth episodes I'll be taking time to address and answer questions I've come across from readers and clients throughout my career. Today I'm answering the above question.

WHAT YOU'LL LEARN FROM THIS EPISODE:

• Who you should and shouldn't share your financial details with.
• People / comments to watch out for
• How to address the awkward ask for a loan or to be spotted
• What to remember when your friends / family are cheering you on
• The issues other people may have when they're one-upping you
• What is really happening when you're faced with prying questions and how to address them
• Appropriate conversations to have with parents and family
• Why it's better to look out for yourself now than to let bad behavior continue
• Who is guaranteed to keep your information private

LINKS MENTIONED ON THE SHOW:

• Schedule a free 30-minute consultation with me
• Afford Anything Podcast: Six Types of Financial Frenemies
• Work Your Wealth: 9 Steps to Making Smarter Choices With Your Money
• 9 Steps to Workable Wealth

HOW CAN I MAKE TRAVEL AS ONE OF MY MONEY GOALS?

This week I sat down with the personal finance coach, Whitney Hansen.

Whitney Hansen is a personal finance coach, entrepreneur and host of The Money Nerds Podcast. She teaches overwhelmed millennials how to pay off debt and be financially independent. She gives them the tools to have more fun with money, while sprinkling in a little silliness. Some of her accomplishments are paying off $30,000 in 10 months, buying her first home at 19, and paying $472 for her master's degree.

HERE'S WHAT YOU'LL LEARN FROM THIS EPISODE:

• How Whitney earned her masters for only $500
• An open ended way to approach travel that will save you $$
• How much you should spend on travel
• How to make travel a priority with your finances
• Tips and tricks for booking cheap flights
• How to travel without using credit card points
• What to consider when choosing hotel vs. home rental
• How to appropriately plan in advance for what you'll spend while traveling
• Considerations for meal expenses and how to find great food

LINKS WE MENTIONED ON THE SHOW:

• Whitney's Website
• Whitney's Podcast
• Scott's Cheap Flights
• Google Flights
• Trip Advisor

I'M HAVING TROUBLE MANAGING MY CASH FLOW. WHY?

This week I sat down with the Motivational Money Coach, Jen Hemphill.

Jen Hemphill helps busy determined women who are content with their income but not their bank account. She helps them transform their finances from being overwhelming to bringing them financial confidence, control and freedom. She is a Motivational Money Coach, an AFC® (Accredited Financial Counselor) and host of the Her Money Matters Podcast.

HERE'S WHAT YOU'LL LEARN FROM THIS EPISODE:

• The biggest misconception people have around budgeting
• Why your budget doesn't need to be restrictive
• How a budget allows you to put your money where your heart is
• How detailed your budget really needs to be
• The different money stages you could be in and where to start with each stage
• Expenses you're forgetting, but need to include in your household budget
• What the zero-based budgeting system is
• Why it's important to prioritize your goals and how to align your cash flow with the ones you select
• Software you can use to maximize your budgeting
• The separate savings account method and how it can work with your budget

LINKS WE MENTIONED ON THE SHOW:

• Jen's Website
• Jen's Facebook Group
• Every Dollar
• Mint
• You Need a Budget

HOW CAN INSURANCE HELP ME?

This week I sat down with the President & CEO of Low Load Insurance Services, Mark Maurer.

Mark joined Low Load Insurance Services (LLIS) in 2003, assumed the role of president in 2008, and CEO in January, 2013. He earned his CFP® designation in 2006, his bachelor's degree in business and finance from Emory University's Goizueta Business School in Atlanta, Georgia, and his MBA from University of Florida's Warrington College of Business. Mark is a member of the National Association of Insurance and Financial Advisors, and a popular speaker for financial organizations including The Alliance of Cambridge Advisors, NAPFA, Garrett Planning Network, LIMRA, LOMA, and Society of Actuaries. He is also a contributing insurance resource to industry publications including Business Week, Bloomberg.com, Forbes, NAPFA Advisor, AMA Physicians' Guide to Financial Planning, NY Daily News, Jean Chatzky's Talking Money, and Jane Bryant Quinn's book, Making the Most of Your Money Now.

Here's WHAT YOU'LL LEARN FROM THIS EPISODE:

• The biggest misconception people have around insurance
• The types of insurance you need for your situation
• Why disability insurance is an important consideration for your family
• The difference between term and whole life insurance and which is best for you
• How to streamline the insurance application process for yourself
• How policies will pay out and how much coverage you need
• How disability insurance payments are taxed

LINKS WE MENTIONED ON THE SHOW:

• Low Load Insurance Services
• Mark's e-mail
• Schedule a free 30-minute consultation with me
• Blog posts from the Workable Wealth blog that address insurance:
  • #YOLO: So Don't Ignore Your Need for Life Insurance
  • Are You Protecting Your Most Valuable Asset?

This week I sat down with consumer protection lawyer and student loan expert, Jay Fleischman.

Jay has been a consumer protection lawyer for over 20 years. He helps people find solutions to their student loans problems so they can plan for the future and achieve their financial goals. He's a nationally-known speaker on the subject of student loan resolution, and operates the Student Loan Law Workshop, where he helps to train other lawyers in this challenging field. He also hosts The Student Loan Show, a podcast about classic cartoons and choosing the right ballpoint pen (kidding - it's about student loans).

HERE'S WHAT YOU'LL LEARN FROM THIS EPISODE:

• The number one concern people have with on student loans
• The difference between public and private student loans and the options for repayment for each.
• How to find out what type of student loans you have.
• Strategies for dealing with loans that will give you flexibility with your repayment plans.
• What not to do when it comes to paying your student loans.
• How your student loans can impact your credit score.
• What public student loan forgiveness is and what professions it applies to.
• How to prepare in advance for any taxes due on loan forgiven balances.

LINKS WE MENTIONED ON THE SHOW:

• Jay's Website
• Jay's e-mail
• Blog posts from the Workable Wealth blog that address student loans:
  • The Best Options for Student Loan Repayment
  • How to Start Paying Down Your Student Loans
  • Can You Have Student Loans and Purchase a Home