Getting our Priorities Straight with Talaat & Tai McNeely

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Getting our Priorities Straight with His and Her Money, Talaat & Tai McNeely

On this episode of Martinis and Your Money, I am talking to Talaat and Tai from His and Her Money. A few weeks back, Apple announced their new iPhones. Immediately, via social media and in my client meetings, I saw the intense euphoria over a product, and I saw my angst and frustration expressed by my good friends, Talaat and Tai McNeely. So I thought I would invite them on the show to discuss this problem of prioritizing stuff instead of prioritizing financial health and how we can fix it.

A few things to note about this show – my mic was giving me problems so my sound quality isn’t the best. Also, Tai got called away toward the end of the show for a personal family issue, so if you think that it’s just Talaat mansplaining and not letting his wife get a word in edgewise, don’t fret, she wasn’t there. We had so much great show before it, though, that we didn’t want to have to re-record. I always love talking to these two and getting their perspective on spending and prioritization problems that keep people from achieving more. Cheers!

What are we drinking?

Talaat & Tai — Spring water on the rocks

Shannon — Black Cherry sparkling water

Podcast Notes

  • The His and Her Money Podcast won three awards at FinCon.

TAKEAWAY: Think about what you prioritize and what comes first in your life. Is it stuff? Or is it something more than stuff? How much is stuff keeping you from achieving something more? I hope that as we head into the holiday spending season that you think about this episode and make financial health a priority instead of spending.

Random Three Questions

  1. You’re on death row and it is your last day on Earth, what do you eat?
  2. What do you do to keep you motivated for your own goals?
  3. If you were to win a million dollars, what would you do with it?

Connect with the McNeelys:

Website

Podcast

If you need or want someone to help you set goals and prioritize your financial health over just stuff, I hope you’ll reach out to my team at the Financial Gym. You can schedule a free call here to find out more. No matter where you are in your financial journey, my financial trainers can help you get where you want to go. Head over or send friends to financialgym.com/friends to sign up today!

Pet Parenthood – Happy Hour Style

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Pet Parenthood – Happy Hour Style

Today is the last Friday of the month and in case you are new to this blog or my podcast, on the last Friday of the month, I host a happy hour on my podcast where the happy hour ladies and I talk about various money topics while drinking cheap drinks! Today’s Happy Hour is a fun topic – pet parenthood! 34 Happy Hours later and I can’t believe we haven’t spoken about pets yet. The four of us all live with and love our furry children. We discuss how we manage them financially and how you can prepare for the financial ups and downs of pet parenthood. Cheers!

What are we drinking?

Melanie from Dear Debt — Malbec

Tonya from Budget and the Beach — Pinot Grigio

Mrs. Frugalwoods from Frugalwoods.com — Hot chocolate

Shannon — Malbec

Podcast Notes

  • Shannon starts the conversation by asking the ladies how pet parents should refer to themselves.
  • The Frugalwoods both grew up with all sorts of animals and wanted a dog for years before they finally adopted their 8-year-old greyhound, Gracie – also known as Frugal Hound.
  • They waited 5 years before adopting her because of several different reasons including grad school, traveling for work, renting & money.
  • They researched dogs and finally decided rescuing a greyhound was the right option for them and their lives.
  • Mrs. Frugalwoods says frugal pet ownership starts by thinking about what breed of dog is best for your budget and lifestyle so you are happy and your pet is happy as well.
  • Melanie grew up with cats and always wanted a cat when she moved out on her own but couldn’t afford one.
  • A year and a half after she paid off her student loan debt, she was finally able to adopt TWO kittens – Thelonious and Miles!
  • Tonya grew up with dogs and wasn’t really a cat-person.
  • But in 2002 she decided to adopt a cat and fell in love with her fur baby, Pepe.
  • Pepe is 17-years-old and the love of Tonya’s life!
  • Shannon never thought she would be a fur baby-mama because she didn’t grow up with many pets.
  • After she graduated college, Shannon started dating a guy who had to put down his childhood cat he had for 18 years.
  • Shannon’s next boyfriend also had cats and she bonded with them fairly quickly.
  • She now has a cat of her own – Spumoni.
  • Shannon says a lot of money shit comes with owning a pet and asks if that was a factor for any of the Happy Hour ladies.
  • Research and planning is crucial before welcoming a pet into your life.
  • Be self-aware of your limitations and what you can physically and financially provide for the pet.
  • Melanie didn’t have pets while she had student loan debt because she new she couldn’t provide the best life for one at during that time.
  • Now, after having kittens, she truly realizes how much it actually costs to have and love pets.
  • She thinks people should generally wait to welcome a pet into their life until after paying off debt.
  • There are so many different costs associated with having a pet:
    • Medical expenses
    • Food
    • Grooming
    • Higher rent for pet-friendly living
  • Tonya says over the course of Pepe’s life so far she has probably spent at least $6,000 or $7,000.
  • Recently, she has made some costly purchase regarding Pepe and his health.
  • She says she signed up for that and it breaks her heart when people abandon their pets once they reach a certain age.
  • Don’t let money be the deciding factor for making a decision regarding your pet’s life – plan for your pet!
  • Most people don’t think about the choices you have to make regarding pets and the financial implications of those choices.
  • Shannon asks the ladies what they spend per month on their pets.
  • Frugalwoods says they have a Costco membership just for Frugal Hound’s food and they purchase the medicine she needs online.
  • Shannon’s free cat, Spumoni, has to be groomed regularly and those costs really add up!
  • Melanie brings up the added cost of replacing an item after a pet destroys something.
  • If you don’t have at least an extra $150 in your monthly budget, pet parenthood might not be right for you just yet.
  • If you already have a pet, find a way to save money in your budget each month to plan for their expenses!

TAKEAWAY: Nothing can replace the love you have or will have for a pet, but you can be prepared for that love financially. If you’re going to love a pet, please make sure you’re financially prepared for how much that love could cost!

The Happy Hour Pets

Happy Hour Pets

Open Enrollment with Charleton Lamb

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Open Enrollment with Charleton Lamb

Today’s Martinis and Your Money episode is a special episode about Open Enrollment. If you’re not sure what Open Enrollment is and you live in the U.S., this is the show for you! From November 1st to December 15th, you can sign up for or change your health care benefits to begin in January 2018. Making the right elections or understanding your options is an important financial decision for you to make so I invited Charleton Lamb from Justworks to join me for this episode. Charleton answers some questions regarding Open Enrollment, and I share my thoughts on health care options and picking the right one for you, your family and your budget. Cheers!

What are we drinking?

Charleton — A Moscow Mule

Shannon — Deep Eddy’s Cranberry Vodka with club soda

Podcast Notes

  • Before Charleton started working for Justworks, he didn’t think about health care benefits much at all.
  • Open Enrollment is the period of time where anyone on a health plan through their employer gets the chance to reevaluate your options and make new choices.
  • Open Enrollment happens once a year, and it happens because every insurance provider resets their prices once a year.
  • Outside of Open Enrollment, you can’t switch or shop for different health plans.
  • The cheapest option is the High-Deductible Health Plan (HDHP) which is designed for young people without regular medical costs and has a much cheaper premium.
  • The real benefit of the HDHP is eligibility for a health savings account (HSA).
  • HSAs are a very recent financial instrument and offer a triple tax advantage – you don’t pay taxes on the money put in it or on the interest that money earns, and you don’t pay taxes when you take that money out.
  • Shannon says many people call them a ‘health care retirement account’ (health care IRA).
  • You only have access to a health savings account if you have a high-deductible health plan.
  • There are some plans that have pretty high deductibles but don’t count as a high-deductible health plan under IRS rules, which means those plans don’t have access to an HSA.
  • Shannon advises her clients to max-out their HSA.
  • Charleton says HSAs can be used in many different ways.
  • The HSA contribution limit for an individual is $3,400 and is $6,700 for a couple/family.
  • HSA funds rollover from year to year – unlike FSAs.
  • The Preferred Provider Organization health plan (PPO) is the most expensive option.
  • Shannon asks Charleton why someone would choose that plan.
  • He says medical needs is one of the main reasons for choosing the PPO plan.
  • To prepare for Open Enrollment, Justworks recommends doing 3 things:
    • Talk with your family or any dependents about their current medical situations and anticipations
    • Analyze some of your medical bills from the previous year
    • Make a list of every doctor you see to check if they are in-network or not
  • During Open Enrollment, employers will often introduce new benefit programs or options like dental insurance, vision insurance, disability insurance and life insurance.
  • Shannon and Charleton agree that understanding disability insurance coverage is extremely important.
  • More and more employers are taking a holistic approach to health and are beginning to offer programs for mental health like access to counseling services and meditation, yoga or fitness reimbursement.
  • Shannon says Open Enrollment is also the time to meet with your employer and demand certain benefits that are important to you.
  • Charleton explains Justworks and the tools they offer to help businesses provide benefits to their employees.

TAKEAWAY: First, make sure you have health care. Secondly, make sure you have the right coverage for YOU. I know the monthly expense seems like something your budget can’t afford, but I can’t tell you how many clients I’ve seen with tens of thousands of dollars of medical debts they’re trying to work through because they didn’t have healthcare to begin with. Please take the time to research your options and find the right fit for you and your budget!

Random Three Questions

  1. What is a TV show you like to binge-watch?
  2. Where is a place in the world you want to travel to?
  3. If you were to win $1 million, what would you do with it?

Connect with Charleton:

Website

If you need or want someone to help you figure out how you can afford your healthcare or making your healthcare work for your budget, I hope you’ll reach out to my team at the Financial Gym. You can schedule a free call here to find out more. No matter where you are in your financial journey, my financial trainers can help you get where you want to go. Head over or send friends to financialgym.com/friends to sign up today!

Kick Ass Single Mom Emma Johnson

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Kick Ass Single Mom Emma Johnson

On this episode of Martinis and Your Money, I am talking to my friend Emma Johnson, founder of the site Wealthy Single Mommy, host of the Like a Mother podcast and author of the recently released book The Kickass Single Mom: Be Financially Independent, Discover Your Sexiest You, and Raise Fabulous, Happy Children. We talk about Emma’s new book and building a life that you can be proud of no matter where you’re starting from. Cheers!

What are we drinking?

Emma — New York City tap water

Shannon — Coffee

Podcast Notes

  • Shannon and Emma discuss how single moms can make time to date.
  • One of the main points of Emma’s new book is that kids really don’t need that much time with their parent.
  • 40% of Americans think it hurts children when mothers work outside the home but that is not true!
  • The best thing you can give your children is your own professional success and financial stability, your own well-being/mental health and being great role models.
  • Emma says there is no correlation between spending time with your kids and your kids doing well.
  • Shannon says parent guilt is a very real thing.
  • Modeling is the most powerful parenting you can do.
  • One chapter in The Kickass Single Mom – The SAHM Fantasy That Holds Women Back – discusses how people believe the stay-at-home mom is the better mom but there is no evidence to support that theory!
  • Shannon’s greatest advice to women is “never fully remove yourself from income-earning.”
  • Emma agrees and adds that women need money of their own in their own name – make the choice to be financially independent.
  • Shannon and Emma talk about how moms staying at home with their kids because the cost of childcare is so high.
  • Research says women are more likely to completely drop out of the workforce the moment when their income is about to exceed their husbands’.
  • That is putting someone else’s worth above your own worth.
  • Shannon wants women to create whatever reality they want as long as it involves continuing to make money!
  • Every woman should be earning her own income the way she wants to and maximizing it in every way possible.
  • Shannon and Emma agree that parents owe their children a comfortable experience of parenting together.
  • Emma is very closely connected to the activist group, Leading Women for Shared Parenting.

TAKEAWAY: Don’t make career and money decisions based on your children or significant other. Make the right choice for you, and hopefully you will always choose to want more for yourself. I think that moms and dads should always be striving to find ways to make more or demand more of themselves. It not only prepares you financially for whatever life throws your way, but it also gives your kids a great example of hard work they can replicate. I never thought I would be a single mom, but here I am, and I am thankful that I have choices in how I can raise my son because I’m not fully reliant on another person.

Random Three Questions

  1. If you could write another book, what would you write about?
  2. What is a show you like to binge-watch?
  3. What is your ideal date?

Connect with Emma:

Website
Book
Podcast
Twitter

If you need or want someone to help you with your money – especially if you’re a single parent – I hope you’ll reach out to my team at the Financial Gym. You can schedule a free call here to find out more. No matter where you are in your financial journey, my financial trainers can help you get where you want to go. Head over or send friends to financialgym.com/friends to sign up today!

The Struggle to Find Happiness: Shannon’s Story

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The Struggle to Find Happiness: Shannon’s Story to Building the Financial Gym

Today’s Martinis and Your Money episode is a super special one for me to share with you. As some of you may or may not know – I have been building my business, the Financial Gym, for the last four years. We just finished a fundraising round where we’ve raised over $1.5 million to grow the gym and make sure there are Financial Gyms across the country. As a result of this, I am going to be doing a lot of PR and sharing my story. Before I go on a bigger PR-blitz, I wanted to share my full story with you!

It has been a wild and rewarding ride these last four years – and I am going to share it ALL with you – the good, the bad, the ugly and the truly miraculous! My great friend, Melanie Lockert, is joining me today to drink and share my story. I hope you enjoy hearing about my journey and that it inspires you to take your own big leaps of faith as well. Cheers!

What are we drinking?

Melanie — a Malbec

Shannon — Chai Martini

  • 2 oz of Vodka (I prefer vanilla vodka for this recipe)
  • 2 oz of Chai Tea Mix
  • 1 oz of Almond Milk

Podcast Notes

  • Shannon’s story begins halfway through her 30th year of life.
  • When she turned 30, Shannon felt great about herself – she was married, and she had a child, a great home and a great job.
  • Halfway through 30, she started to wonder what the fuck happened.
  • She was miserable and living a life she didn’t want to live.
  • At the time, she was working for a hedge fund in New York and was put on a project in California working with a Buddhist/life coach attorney.
  • They became great friends and he ultimately became Shannon’s life coach and introduced her to the book that changed her life – Happiness: A Guide to Developing Life’s Most Important Skill by Matthieu Ricard.
  • The core of the book says “to really achieve ongoing happiness is to help other people and to help other people without expecting anything in return.”
  • Melanie says changing your life to focus on helping others is a huge mindset shift.
  • A few weeks later, Shannon received a call asking her to come back to work for Bank of America.
  • She initially said no, but after thinking and praying about it, she realized this might be her opportunity to help people and lead her to her purpose so she took the job.
  • She began working with Merrill Lynch financial advisors and learned the ins and outs of the financial advising world.
  • Shannon shares how her separation and home life affected her work-life and career path.
  • Shannon thinks that if you feel something strongly, there is a reason, and that you should trust yourself and follow your dreams.
  • Shannon believes to follow your dream you must first show people that it can work and then gather support, but keep your ideas close to the chest until they have blossomed.
  • Shannon believes that one of the most important things is networking because you never know when they will help you.
  • Sometimes you have to go to bat for yourself and tell people what you want and what you need because people aren’t mind readers and a closed mouth doesn’t get fed.
  • One of Shannon’s favorite quotes is “you miss 100% of the shots you don’t take,” by Wayne Gretzky.
  • Shannon believes the true core of an entrepreneur is faith even when you cannot see.
  • She wants all her listeners that are on a hard road to know that if you keep pushing on and keep believing you will get there.
  • In every moment that you feel like giving up you must recommit, and if you do that you will be rewarded.
  • Shannon wants all her listeners that are on a hard road to know that when you recommit and eventually get to where you want to go it will make the journey worth it.
  • TAKEAWAY: Listen to your gut and your instincts about where life is supposed to lead you – personally and professionally.

Random Three Questions

  1. What “Sex in the City” character would you be?
  2. When you’re stressed at do you get a massage or go to the hot tub?
  3. If you were on Death Row what would you have for your last meal?

To everyone who has supported me on this journey thus far – THANK YOU! – for your words of support and encouragement, your prayers, your kind thoughts, your hard-earned money, your hugs and your humor. I also want to thank my team at the gym. I am so fortunate to work with six badass, compassionate and hard-working women who work non-stop to make sure that they’re easing others financial suffering. You inspire me everyday, and I am so thankful to have you on this ride with me.

If you are a badass, compassionate and hard-working person who wants to join our team, we are currently hiring in New York City! Email your information to my teammate Kim at kim@fingyms.com and let her know all about you! If you live in another city, send her your information as well because we will be opening gyms across the country before we know it!

If you still want to know more about the Financial Gym, I encourage you to schedule a free call here to find out more. No matter where you are in your financial journey, my financial trainers can get you where you want to go. Head over or send friends to financialgym.com/friends to sign up today!

 

Don’t Let Physical Fitness Get in the Way of Your Financial Fitness with Shawn Stevenson

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Don’t Let Physical Fitness Get in the Way of Your Financial Fitness with Shawn Stevenson

As you can imagine, we see a number of people at the Financial Gym who are interested in overall wellness and typically belong to gyms, eat healthy and have other coaches in their lives. We applaud them for taking care of themselves; however, it often comes at the price of their financial wellness. When your financial wellness suffers, your mental health suffers, and all the work you’ve done is destroyed by the stress in your mind.

On this episode of Martinis and Your Money, I am talking to Shawn Stevenson, host of The Model Health Show – currently the #1 Fitness & Nutrition podcast in the U.S. on iTunes – and author of the best-selling book, Sleep Smarter – 21 Essential Strategies to Sleep Your Way to A Better Body, Better Health, and Bigger Success. Shawn shares so many great resources and strategies to maintain overall wellness while not forsaking financial wellness. We want you to be healthy AND wealthy! Cheers!

What are we drinking?

Shawn — Spring water

Shannon — Schweppes Black Cherry Seltzer

Podcast Notes

  • Shawn started college as a pre-med major but changed to business during his freshman year because of the Eddie Murphy movie, Boomerang.
  • His world changed during college after his doctor told him he had the spine of an 80-year-old person when he was only 20-years-old.
  • He was diagnosed with an “incurable” spinal condition called degenerative disc disease.
  • Shawn discusses the placebo effect and mentions the book Mind Over Medicine by Dr. Lissa Rankin.
  • Two years after his diagnosis and gaining a lot of weight, he decided he was going to get well.
  • He put a plan together for his recovery that involved three things:
    1. Nutrition
    2. Movement
    3. Recovery
  • After 6 weeks of working towards recovery, Shawn had lost 28 pounds and significantly reduced his pain.
  • Shannon and Shawn agree that it is all about your mindset.
  • Shannon asks Shawn for his advice if people want to get physically healthy while staying financially healthy.
  • He mentions the podcast episode where he interviews Dr. Michael Roizen about financial fitness.
  • For the nutrition portion of his recovery, Shawn continued to eat the food he had always eaten, but he upgraded the quality by purchasing his food from farmer’s markets (which also saved him a lot of money).
  • There are several cheap or free alternatives to an expensive gym membership.
  • For the movement component of his plan, he exercised for free by walking.
  • Shannon mentions her friend who suffers from MS and stopped needing her medication over 15 years ago once she changed her diet and figured out exactly what her body needed.
  • Thrive Market is a resource that sells healthy food and products to its members at wholesale prices!
  • Shawn says all you need is 5 minutes of exercise a day.
  • He discusses the effects of stress on physical health and decision-making.
  • His podcast episode, Emotional Intelligence and Developing Altered Traits with Dr. Daniel Goleman, explains a child-study on delayed gratification.
  • Researchers found, years later, that the children from the study with the ability to delay gratification tended to do better in school, maintain solid relationships & employment and make more money.
  • Shawn’s personal example of delayed gratification is going to sleep instead of watching the newest episode of Game of Thrones.
  • Lack of sleep affects all aspects of your life.
  • Shannon says people don’t think about sleep as part of their overall wellness.
  • Shawn discusses how people mistake being busy for being effective.
  • To truly be financially fit, you need to be sharp which you can’t be when you are sleep-deprived.
  • One study from the University of Chicago found people lose 55% more body fat when they are well-rested compared to when they are sleep-deprived.
  • Shannon asks Shawn for the key to sleeping better.
  • His advice for getting better sleep is:
    1. Know the value of sleep
    2. Get 10 to 20 minutes of adequate sun exposure during the day
    3. Get “good sleep” nutrients
  • The things you do during the day help you to sleep better at night!
  • Shannon discusses how the stress from her divorce affected her wellness.
  • Shawn highlights the best ways to combat stress.
  • TAKEAWAY: It’s so easy to spend money on health fads and ineffective solutions but sometimes all you need are the basics to protect your health! 

    If you need or want someone to help you manage to afford the wellness options that are critical to you, I hope you’ll reach out to my team at the Financial Gym. We are helping clients every day become the best physical and financial versions of themselves. You can schedule a free call here to find out more. No matter where you are in your financial journey, my financial trainers can help you get where you want to go. Head over or send friends to financialgym.com/friends to sign up today!

    Random Three Questions

    1. What is a book that changed your life?
    2. If you could travel anywhere in the world, where would you go?
    3. If you were to win $1 million dollars, what would you do with it?

    Connect with Shawn:

    Website

    The Model Health Show podcast

    Sleep Smarter

    Facebook

Disaster Preparedness with the Happy Hour Ladies

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martinis and your money

Happy Hour 33—Disaster Preparedness

Today is the last Friday of the month and in case you are new to this blog or my podcast, on the last Friday of the month, I host a happy hour on my podcast where the happy hour ladies and I talk about various money topics while drinking cheap drinks! Today’s episode is unfortunately inspired by the recent weather events in Texas, Florida and the Caribbean. We are talking about disaster preparedness – how we prepare for it or don’t prepare for it, best practices and how you can be prepared for anything life or Mother Nature throws your way. Cheers!

What are we drinking?

Melanie from Dear Debt — Cabernet Sauvignon from Trader Joe’s

Tonya from Budget and the Beach — Meridian White Wine – Chardonnay

Mrs. Frugalwoods from Frugalwoods.com — Hot Chocolate because she’s pregnant!

Shannon — Deep Eddy’s Grapefruit Vodka with club soda

Podcast Notes

  • Shannon starts the episode by throwing Tonya under the bus and asks her if she thinks about earthquake preparedness.
  • Tonya has a Red Cross backpack which is a 3-day survival backpack pre-made by the Red Cross.
  • In February 2001, Tonya experienced the magnitude 6.8 Nisqually Earthquake in Seattle.
  • She was alone on the 4th floor of a 5-story building editing a video game trailer when the earthquake hit.
  • Two years later Tonya moved to Los Angeles and experienced another earthquake which caused her to purchase the Red Cross backpack.
  • Tonya advises keeping a small amount of cash in a hidden place and putting together a backpack with a change of clothes just incase you have to grab something quick.
  • Tonya and Melanie agree that they don’t normally worry about other natural disasters besides earthquakes.
  • Melanie has earthquake coverage as part of her renter’s insurance – which typically doesn’t cover natural disasters.
  • Melanie grew up in Los Angeles and remembers the 1994 Northridge Earthquake very clearly as well as other smaller ones.
  • Shannon lived in Florida for 5 years and says there were so many hurricanes and tropical storms during that time.
  • During that time Shannon says her disaster preparedness consisted of a lot of alcohol.
  • After moving to New York she experienced Hurricane Sandy.
  • Liz says she and Mr. Frugalwoods deal with natural disasters like hurricanes and blizzards in Vermont.
  • The Frugalwoods have snowshoes and a sled for their daughter(s) to help them when dealing with snow storms.
  • For the most part they are self-sufficient and are prepared if they aren’t able to leave the property for a few days.
  • They have 50 cans of food preserved in their basement at this time.
  • Shannon says the more self-sufficient you can be, the more prepared you already are for a natural disaster.
  • She added flood insurance for peace of mind after Hurricane Sandy happened.
  • Shannon says the best way to prepare for the unexpected is to prioritize saving into your emergency fund and making sure that money stays there.
  • It makes a stressful situation even more stressful if you don’t have the money to deal with it.
  • Shannon asks if any of the ladies have experience any other natural disasters.
  • Mrs. Frugalwoods lived in the Midwest when she was young where she experienced tornadoes.
  • She says the scariest thing about tornadoes is that they hop around and move quickly from one place to another.
  • The ladies debate if there are any parts of the U.S. that are natural disaster-free.
  • They all agree that Step #1 for disaster preparedness is to determine what your disaster is (natural or not) and start preparing for it by funding your emergency fund.
  • Tonya says there is a new fantastic documentary on Netflix called Fire Chasers that is about firefighters and others affected by wild fires.
  • If you or someone you know has been affected by the recent natural disasters – please let us know how we can help by posting in the Facebook group or by emailing Shannon@finblonde.com.

TAKEAWAY

Shit is likely to happen, and when shit hits the fan, cash helps you clean it up much faster and with a lot less stress!

Resources

Red Cross Emergency Kits

Bug Out Bag

Wise Food 5-Day Survival Backpack

I want to hear more from you and what you love about the show as well as how I can continue to make it awesome. I hope you’ll take a few minutes to fill out my survey at financialgym.com/martinis and let me know more!

Raising Money for Your Dream with Concetta Rand

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Raising Money for Your Dream with Concetta Rand

On this episode of Martinis and Your Money, I am talking to Concetta Rand, Chief Revenue Officer of the new crowdfunding startup for women-led startups and small businesses, iFundWomen. As an entrepreneur, I understand the importance of raising money for your dream to become a reality, and I also understand the struggles of doing it. iFundWomen is making it easier for other women’s dreams to come true – so you know that’s something I want everyone to know about! Listen and enjoy. Cheers!

If you would like to have more of a say in the direction of this show, I encourage you to fill out my survey and let me know. Find the survey at financialgym.com/martinis and let me know how I can continue to make this an educational, informative and fun show for you to listen to!

What are we drinking?

Concetta — her second cup of coffee

Shannon — her first cup of coffee

Podcast Notes

  • Shannon found iFundWomen through the group, Dreamers and Doers.
  • Shannon shares that she is in the process of raising money for her company and that the fundraising process is the absolute worst.
  • iFundWomen was started in November 2016 and will have helped the businesses on their platform raise over $1,000,000.00 by the end of this year.
  • Shannon and Concetta discuss the statistics of female-led venture funding compared to male-led venture funding.
  • iFundWomen is a rewards-based platform – no equity is sold so instead companies offer perks, rewards, incentives or products in exchange for monetary contributions.
  • It follows a pay-it-forward model where iFundWomen directly reinvests 20% of its standard fees into live campaigns on the site!
  • Dedicated crowdfunding and business coaching is provided to everyone on the platform.
  • Over 1,000 businesses have applied for funding at iFundWomen and over 150 campaigns have run and been successful.
  • Shannon asks Concetta what the process is like to get on the platform as a female entrepreneur.
  • Looking through iFundWomen’s campaign guide is the first step.
  • Shannon shares the advice she received when she first started raising money for the Financial Gym.
  • Crowdfunding isn’t about begging for money – it is about putting your plan into action and asking your community for support.
  • Concetta explains reward planning and provides examples of successful rewards.
  • Some businesses that have had successful iFundWomen campaigns include:
  • Shannon talks about the angel investor that invested her company, the Financial Gym.
  • Crowdfunding forces you to prioritize talking about your business and broaden your network.
  • You can’t be afraid to ask the first time and you can’t be afraid to ask multiple times!
  • Shannon discusses the Financial Gym’s “Hey Neighbor” campaign.
  • Three things female entrepreneurs need to thrive in the startup world are:
    • Access to capital
    • Access to coaches and mentors
    • Access to success stories
  • TAKEAWAY: If you have an idea or a vision, put it out there. There are plenty of people who want to make that a reality for you – you just have to give them a way to do it.

Random Three Questions

  1. What do you think is one of the most successful women-founded businesses that other women should look to for inspiration?
  2. What is a book or movie that has changed your life?
  3. If you were to win a million dollars, what would you do with it?

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If you need or want someone to help you figure out the financial plan to make your dream a reality, I hope you’ll reach out to my team at the Financial Gym. You can schedule a free call to find out more here. No matter where you are in your financial journey, my financial trainers can help you get where you want to go. Head over to financialgym.com/friends to sign up today!