5 Smart Money Tips for Millennials

martinis and your money

5 Smart Money Tips for Millennials

Today on the podcast, I am talking to my friend Kali Hawlk. I became friends with Kali a few years ago through her blog Commonsense Millennial. She no longer blogs there, but blogs are her main site Kali Hawlk.com but I have to tell you that if one thing is true about Kali, she is truly a Commonsense Millennial. Kali graduated from college four years ago in a terrible job market and worked her way from a $10/per hour job to running her own business and now working for The XY Planning Network.

What Are We Drinking:

Kali – Jameson on the rocks (As I told Kali on the podcast, I am super impressed with her drinking ability and told her that she had bigger drinking balls than me. I can’t handle a grown up drink like she has, so I stuck with vodka)

Shannon – Vodka and soda

Podcast Notes

I asked Kali to share what she believes are 5 smart money tips for millennials, and I not only agree with her list, but I also think these are 5 smart money tips no matter how old you are. Here is her list:

  1. Prioritize your spending
  2. Ignore the rules of thumb for savings
  3. Earn more (As I mentioned in the podcast, here is the link to the Well Kept Wallet site which gives you 80 ways to make more money, so no excuses!)
  4. Invest wisely
  5. Live mindfully
Random 3 Questions Kali Answered:
  1. What’s your biggest financial indulgence?
  2. What’s your favorite dinner spot?
  3. What was your favorite class in college?
What are smart money tips for millennials? Is there anything you wish you did with your money in your 20s?

Bonus: Just to give you a good laugh on a Friday, this is one of my new favorite clips


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Shannon is a financial planner who left a “traditional” financial services firm to start her own company, The Financial Gym, because she felt traditional financial services firms did not have the tools or resources to help people in their 20s and 30s who are starting out and trying to build assets while also managing debt. She realized that the key to long-term personal financial success is a commitment to financial fitness and making smart financial choices. Through her blog, Financially Blonde, her book, Train Your Way To Financial Fitness, her podcast, Martinis and Your Money and The Financial Gym, Shannon is committed to making financial fitness fun, easy and accessible for everyone.


  1. Taking Action is KEY!!! My 1 piece of advice would me make more money.. Seek new / additional opportunities. I am doing well and that is in part due to always having a handful of side gigs in addition to my main job.

    Hmm.. Money in my 20s…. I would have had a bigger focus on “capital accumulation” in my early savings days. The 10% rule is nice in theory but it’s similar to treading water.. To really get anywhere you will be saving for a long time.. I’m currently saving about 50% and it is much more significant in terms of impact and growth.


  2. Sounds like a great podcast, as usual. In particular I’m sure the “earn more” discussion was beneficial. I think it’s really important for millennials to focus on earning more because most of us are in debt or could use the extra money to get ahead.

  3. Awesome podcast! I think it’s incredibly important to distill growing wealth into easy steps. The only ways to do it are increase income, reduce expenses or improve your ROI, and you guys hit on all of those (plus keeping in mind what your money is good for which I appreciated).

  4. I enjoyed your podcast with Kali. I agree with you that there are really ways to earn money. That list of 80 ways to earn money is really helpful. What I should have done is to save first before I spend. By the way, the video is awesome!

  5. Great podcast with Kali! Loved all the tips, especially #5 It’s so important to know what your financial goals are you where your money is going.

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