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Angel Investing with Diane Henry

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Angel Investing with Diane Henry

In honor of Women’s History month in March, I’m focusing all of my podcasts this month on women and their accomplishments; and I’m so excited to share today’s guest with you. I met Diane Henry last year when my lead investor in the Financial Gym sent out an email about why investors should invest in my company and Diane responded almost immediately. Diane built a successful business in the male-dominated world of commercial real estate, to the point where she is now able to invest in other businesses, and one of her portfolio companies is actually the Financial Gym. Diane joins me today to share her story and her approach to angel investing and how she picks the businesses she invests in.

What are we drinking?

Diane — Coffee

Shannon — Champagne

Podcast Notes

  • Diane had always been interested in starting her own business. She saw a hole in the commercial real estate market and knew she could fill it. People were not trusting the people who were supposed to be helping them.
  • Diane and Shannon talk about working in male-dominated fields and the heightened sensitivity about everything gender related.
  • When Diane first started out on her own, she had a lone-wolf mentality, where it was her against the world with her team behind her. She didn’t have a lot of sponsorship or mentors. She now recognizes that mentality was not necessary and realizes the importance of having a mentor.
  • Diane is an angel investor to founders in the early stages of businesses. She finds it to be an incredible experience to be an advisor to new entrepreneurs.
  • Diane invests through Rogue Capital Collective and now has many investors that feed knowledge and experience into the collective.
  • An angel investor is expecting a future financial return – it’s not free money or a grant.
  • Every angel investor is different. Diane only invests in venture scaleable businesses, meaning a business that can go national or global and can reach millions of customers. She also looks for the founder. Why are they doing this? Why are they credible to do what they are doing?
  • Diane shared an example of a male founder that was pitching a product for women and it was only men on his team. What you are building, and the founding team, should make sense.
  • Diane is an investor in the Financial Gym. In their initial conversations, Shannon loved the way Diane made her think about her business.
  • The size of an angel check is based on how established the business is. It is ultimately about the founder and if Diane can believe in what they are doing. If risk and reward are proportionate, then she is willing to invest. If everybody else is chasing after a business, it drives the price up.
  • If you can’t sleep at night, because you are so passionate about your business idea, you will be able to ride the ups and down of being an entrepreneur.
  • Last week, Shannon had her first Series A conversation and explained that the first two years of going on her own, she still thought she could just go back to the bank if it didn’t work out. After she received her first investor check, she went all in and didn’t look back.
  • This year, Diane started to share more of her views and strategies through her website and Twitter.
  • Diane continues to invest in founders of all types. Her portfolio is diverse, because her network is diverse. She is trying to scale up her advisement work. She just did the .25 Initiative, which is a great way for founders to get people on their board. She is always analyzing the market to see where future opportunities may come from.
  • Diane invites partnerships for investing, instead of being a lone wolf.
  • Being an entrepreneur is intense. It can’t just be a desire for the money – there has to be something to make it worth it and keep you coming back. The money cannot be the only reason. The road to the top is winding and you need to have a strong stomach.

TAKEAWAY: Remember that there are numerous lenses in which we can view people and to check yourself before you filter everything through a gender lens. As Diane said, Women’s history month is about more than accomplishments for women is about equality for all.

Random Three Questions 

  1. What is a book that has inspired you?
  2. What is a show you love to binge watch?
  3. What do you do to relax?

Connect with Diane

Twitter: @investordiane

Roguecapitalcollective.com

If you need someone to help make money fun, I hope you’ll reach out to my team at the Financial Gym. We have clients achieving their dreams every day that they never could have realized on their own. 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. So head over to or send friends to financialgym.com/friends to sign up today!

 

Get Money with Kristin Wong

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Get Money with Kristin Wong

In honor of Women’s History month in March, I’m focusing all of my podcasts this month on women and their accomplishments. I am excited about today’s guest, because she literally helped establish my blogging career and she didn’t even know it. Today I’m talking to Kristin Wong, who has written everything from TV shows to personal finance articles and has now written a book called Get Money: Live the Life You Want, Not Just the Life You Can Afford. She joins me today to talk about her journey and why writing about personal finance suits her best. We had a lot of fun recording this show and I hope you enjoy it.

What are we drinking?

Kristin — Paloma (tequila with grapefruit juice)

Shannon — Woodbridge Mondovi wine

Podcast Notes

  • Shannon Kristin linked to and quoted Shannon’s blog article “Are You  Financially Sexy” and shared it on Lifehacker, almost four years ago, and Shannon’s stats went through the roof.
  • Kristin has written about money, career, dating, and relationships, and always goes back to writing about money. She started writing for JD Roth on his blog Get Rich Slowly, and he let her write about whatever money topic she wanted.
  • Kristin always wanted to be a writer. She lived in Houston, and worked for Halliburton writing manuals on how to use drilling tools. This experience gave her the confidence to write about money topics.
  • As Kristin grew up, her parents read personal finance books and taught themselves how to better their financial situation.
  • Kristin moved to L.A. to write for television, and she wrote for Netflix, Fox digital, and did some comedy writing. This type of writing was very technical and Kristin felt that she could be more creative writing about money. She chose to switch from writing for television to writing about money and had to get over what other people thought of her.
  • Shannon faced the same thing when she left Merrill Lynch to start the Financial Gym, because she had to get over what other people thought of her.
  • Shannon talked about financial companies and insurance companies whose goal is to sell clients their products. She explains whole life insurance policies and the only time it makes sense to buy one.
  • Once Kristin started writing about money on Get Rich Slowly, other people asked her to write for them. She eventually wrote for Lifehacker, NBC News, and several others. Her friends then started asking her to teach them about money and she thought about writing a book so she could give it to them to read. About three years ago, Kristin started writing everything down and she used that information to write a book.
  • Kristin proposed the book to a couple of different agents and was turned down. One agent that turned her down told her she didn’t think she would be able to write a book. Kristin went back and changed her proposal and found an agent that was interested and published her book Get Money.
  • Kristin and Shannon talk about the Real Housewives and hotel cable TV.
  • It was important for Kristin to have a balance to reach people who are in tough financial situations and not so tough financial situations. She didn’t want people to feel left out or bad when they read it. Kristin gamified the information to make it more interesting and engaging. The book will be released on March 27, and Kristin will be at a book signing at Barnes and Noble on Fifth Avenue in NYC on March 28.
  • Shannon talks about her podcast and supporting women. Shannon started this podcast because she saw a video at FinCon about personal finance podcasting and it was all men. Her friends dared her and she tried it.

TAKEAWAY: We should make money, and getting better at managing it, something that is fun and not a chore. We talk about mindset shifts around money all the time and making money fun instead of tedious should be a mindset shift we all make.

Random Three Questions 

  1. If you were to write another book, what would you write it about?
  2. If you could travel anywhere in the world, where would you go?
  3. If you were to win one million dollars, what would you do with it?

Connect with Kristin

Twitter: @thewildwong

Book: thegetmoneybook.com

If you need someone to help make money fun, I hope you’ll reach out to my team at the Financial Gym. We have clients achieving their dreams every day that they never could have realized on their own. 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. So head over to or send friends to financialgym.com/friends to sign up today!

 

Achieving Financial Independence with Liz Thames

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Achieving Financial Independence with Liz Thames

In honor of women’s history month in March, I’m focusing all of my podcasts this month on women and their accomplishments, and today’s guest is someone near and dear to this show. If you’ve been listening to the show for a while, you know her as Mrs. Frugalwoods on our monthly happy hours, and I know her as my friend Liz, who has just fulfilled a life-long dream to write a book, Meet the Frugalwoods: Achieving Financial Independence through Simple Living. She joins me today to talk about the book-writing process, why this was an important step for her, and more about life on the homestead.

What are we drinking?

Liz — Homemade Seltzer

Shannon — Black Cherry Schweppes

Podcast Notes

  • Liz makes her own seltzer water at home. You are in control of the amount of fizz when you make it yourself. The higher end seltzers don’t have as much fizz.
  • Liz thinks “I should just make this at home” about most things.
  • The path to financial health makes people think (1) can I live without this, and, if not, (2) can I make this myself.
  • The Great Homemade Seltzer Discovery of 2015.
  • Step-by-step instructions on how to make your own seltzer water.
  • Liz is known as Mrs. Frugalwoods, because of her blog Frugalwoods.com, which she started four years ago. The blog tracks the journey Liz and her husband, Nate, took from living very conventional lives outside of Boston. They made a decision in 2014 to pursue financial independence. This means their assets cover all of their expenses. They do not have to work, but they both choose to work.
  • Liz quit her day job about two years ago and about a year and a half ago moved to a 66 acre homestead in the middle of the woods in Vermont. They have a two year-old daughter and a newborn baby girl.
  • Shannon and Liz met through blogging. Liz was an anonymous blogger at first. Liz and Nate were on Martinis and Your Money as Mr. and Mrs. Frugalwoods.
  • To get to where they are now, Liz and Nate were saving over 70 percent of their income. They were only spending on the bare necessities of life and found a way to only spend in service of their goals.
  • It isn’t a question of never spending any money, it is a question of what do we want out of our life and how is our spending helping us or hindering us in getting there.
  • They apply optimization and efficiency to how they manage their finances, their relationships, and their home.
  • It is all about letting go of shopping, wearing makeup, and feeling like she needs to be a certain person. She is a happier and more confident person.
  • Setting goals, being intentional, and being decisive, strategic, and quick is important. There is no bad month to start your goals. Just begin.
  • Clients who start at the Gym with $0 are further ahead than those who say they will join when they have more money. Just make the change now. The only thing holding us back is usually ourselves.
  • Liz did everything she was supposed to do, but was still unhappy. Liz and Nate realized they were escalating their spending and increasing their lifestyle and it wasn’t bringing lasting happiness. They made a decision to make a change. You have a lot more options when you are not living paycheck to paycheck.
  • Even if you don’t want to quit your job and want to work forever, you may lose your job unexpectedly. It is a huge difference if you have a emergency fund. It gives you flexibility and options.
  • Everyone should have the goal to do whatever you want whenever you want. It is so different to go to work when you know you don’t have to go to work.
  • Too often, we put the choice of material goods over the choice of circumstances. It is not about choosing between a Mercedes and a BMW, it is choosing not to buy either and instead choosing to buy your way to financial freedom.
  • How do you want to spend your time? The less you spend on a thing, the less time you need to work. The lower your expenses, the less you need to earn and the less you need to save overall.
  • Liz invests in low-fee index funds through Fidelity and constantly buys into the market. They automate it to contribute every month. It is all about simplifying and creating efficiency and about being content with less.
  • Liz and her husband have tried to smooth out the happiness curve, so there aren’t highs of spending followed by lows.
  • Liz has always wanted to be a writer. One of her degrees is in creative writing. Nate created the blog for her, because she was always talking about writing. Working with a publisher really pushed her into a new level of writing. Some of the chapters in the book were rewritten 18 or 20 times. The book is all new material.
  • Harper Collins reached out to her and asked if she wanted to write a book. It is really important to have an agent and to find an editor and publisher who understand your vision. Liz had to do a formal proposal. The whole process to write Meet the Frugalwoods took about two years from start to finish.
  • Having choice in your finances should be a universal goal for everybody. Don’t just move along the life track without questioning what you actually want to do.
  • Setting the goal is half the battle. Liz recommends to (1) write out your dream bio and your current bio, and (2) imagine yourself as a 95 year-old or that you are writing your obituary.

TAKEAWAY: The power of having clearly defined goals. Nate and Liz had clearly defined goals of financial independence, living on the homestead, and for Liz writing a book. If you haven’t set any goals for yourself, I hope you’ll stop what you are doing and really give some serious definition to life goals you want to achieve and set to making them a reality.

Random Three Questions 

  1. What is a book that has changed your life?
  2. What is an area where you are not frugal?
  3. What do you do to relax?

Connect with Liz

Website: Frugalwoods.com

Twitter: @Frugalwoods

Instagram: @Frugalwoods

Facebook: Frugalwoods

If you need someone to help you set out life goals and achieve them, I hope you’ll reach out to my team at the Financial Gym. We have clients achieving their dreams every day that they never could have realized on their own. 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. So head over to or send friends to financialgym.com/friends to sign up today!

Work Bravely with Sarah Sheehan

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Work Bravely with Sarah Sheehan

This is the first Friday of March and March is Women’s History Month so I’ve decided to focus all of my podcasts this month on women and their accomplishments. At the Financial Gym, two words we hear all the time are fear and shame, and something I haven’t addressed on this podcast yet, or enough, is the shame founders have around their finances when building a business. So I was thrilled when Sarah Sheehan, Founder and Chief Customer Officer at Bravely told me she wanted to come on the show and speak about this specifically. She and I discuss how our finances shifted once we started actively pursuing our dreams and businesses and how we’ve combated the shame that comes with those finances. It’s a great conversation and I thank Sarah for giving me the opportunity to discuss this on the show.

What are we drinking?

Sarah — Prosecco

Shannon — Cristalino Cava

Podcast Notes

  • Sarah caught the start-up bug when she worked at the Gilt Groupe, prior to the New York tech scene taking off. It was exhilarating coming from Sirius and Coach Handbags and she was addicted to the adrenaline rush.
  • Bravely connects employees with professional coaches outside of work, so they can have better conversations and make their organization better as a whole.
  • Many employees will go to friends or family members with issues or questions about how to handle a situation at work and, although they are well-meaning, they are not equipped to answer the questions.
  • Sarah met her co-founder, Toby, at the Gilt Groupe.
  • Sarah previously worked in Human Resources and had to figure out how to retain talent and how to make the employees more engaged and produce healthier workplaces. At Gilt, she had the opportunity to do a complete career switch and launched their vertical of high end services, their answer to Groupon, called Gilt City. It grew really fast and over the next four years, Sarah became the head of sales. She realized how critical it was to attract and retain talent.
  • The idea for Bravely came from her co-founder referring his friend to her to help her with her situation. Toby was working on medical services on-demand and said what if they did that for HR services.
  • Sarah was consulting and left a year ago to pursue Bravely full-time.
  • When she became an entrepreneur, she felt a lot of financial stress. She could not pay herself what she was making inside a company. She is living in a financial state she has not seen in over a decade.
  • Shannon shared that she experienced the same thing when she started the Gym.
  • When starting a company, your finances are going to be a disaster.
  • Sarah always had a level of security with a regular paycheck and bonuses. Now her salary covers her rent and she lives off of her savings. When she evaluated how long her savings would last, her spending changed overnight. The hardest part is saying no to her friends.
  • Shannon said being an entrepreneur she is low on time and money. A year ago she had no money between herself and the Gym.
  • Sarah said that she understands her privilege being backed by venture capitalists and is grateful for this opportunity.
  • Shannon said when she started on her own, she wondered why she couldn’t be happy working a regular job like other people. She is honest with people that her finances are a mess, but she knows how to fix them.
  • A few weeks ago, Shannon made the decision to sell her house. She doesn’t know when she will be getting a salary increase, because she wants to hire more people and make enhancements at the Gym.
  • Sarah said she has never been happier than living this poor life. Shannon said she has never made less in her life, but she has never been happier. Believing in what you are building makes it all worthwhile.
  • People tend to spend more when they are unhappy at their job. Stress at work is all-consuming. You talk to your friends and family members about it and it has a ripple effect.
  • The people that Bravely works with cannot always walk away from the paycheck or the insurance.
  • Shannon said she didn’t get her finances on track, until she  realized she wanted to open her business.
  • Sarah said the silver-lining is that she realized she didn’t need expensive clothing or high-end trips. As her income grows, she will be able to continue to live frugally and she will be able to help other women find their path with the money she is not spending.
  • Shannon gives two different pieces of advice to people who want to start their own business:
    • At a bare minimum, you should have at least one year of salary saved up and readily available in cash. It always takes longer to build a company than what you expect.
    • If you feel passionate about what you are building, and cannot sleep at night, this is the other option.
  • Sarah said she didn’t really go through her finances well before starting her company, but she knew she had enough to supplement her salary for a while.
  • Shannon said there is no shame in not having a lot of money when you are starting a business.
  • You need to have a high tolerance for risk. When you are doing this as a single woman, it is even riskier.
  • What’s the worst that could happen? Everything is fixable. Focus on each day.
  • It is difficult to stay healthy, when you are working seven days a week. You must have an outlet to stay sane. Shannon uses a Peleton bike about four times a week.

TAKEAWAY: Remember that starting a business will have a lot of negative repercussions on your personal finances; however, if you’re truly passionate about the path to your dreams, you will find a way to make it work no matter what.

Random Three Questions 

  1. If you were to build another business, what would it be?
  2. What is a show you like to binge watch?
  3. What is a place on your bucket list that you’ve never been to?

Connect with Sarah

Workbravely

Email: Sarah@workbravely.com

If you want to make some of your dreams a reality and need someone to help you along the way, I hope you’ll reach out to my team at the Financial Gym. We have clients achieving their dreams every day that they never could have realized on their own. 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. So head over to or send friends to financialgym.com/friends to sign up today!

 

Single Finances with the Happy Hour Ladies

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Single Finances with the Happy Hour Ladies

Today is the last Friday of the month and my regular listeners know that on the last Friday of the month, I host a happy hour, where I gather great friends to drink cheap drinks and talk about money topics. For the past 37 happy hours, it’s always been the same crew, Melanie from Dear Debt, Tonya from Budget and the Beach, and Liz from Frugalwoods; however, we had to break our tradition this month because Liz is on maternity leave of sorts and has recently given birth to her second baby girl. All of us at martinis and your money are thrilled to welcome another little frugal weirdo into this world and we were sad to not have Liz on the show, but instead we got to welcome one of my amazing listeners, Dylan, who actually suggested this month’s topic of single finances. Something I love about happy hours is that I hit record and you never know where the show is going to go, just like any night out with friends, and this one was no different. I hope that you enjoy the show, my old friends Tonya and Melanie, and my new friend Dylan.

What are we drinking?

Melanie from Dear Debt — Hot toddy (tea, lemon, honey, & bourbon)

Tonya from Budget and the Beach — Cabernet

Dylan from Nebraska — Blue Moon

Shannon — Gin & Club Soda

Podcast Notes

  • Liz gave birth to a baby girl, Aurora. Congratulations, Liz!
  • The juice in gin and juice is both grapefruit juice and orange juice.
  • Pros and cons of single finances:
    • Melanie: Her financial situation didn’t change drastically when she became single last year, since she was paying for almost everything. Groceries and utilities went down. If it was more of an equal partnership, it would have been more shocking. They did not make many financial decision together and managed their finances separately.
    • Shannon: She has always contributed more financially in her marriage and felt pressure to contribute the same percentage when she opened the gym, even though she wasn’t making as much as before. Money was always an issue they didn’t address. They relied on Shannon’s bonuses to pay off debt. Resentment started to build when the bonuses were gone.
    • Dylan: She enjoys being single and only needing to pay for one plane ticket or one dinner. She doesn’t have to be accountable to another person.
    • Tonya: She has dated people, but finances were always separate. Rent costs more, solo traveling costs more, etc. When freelancing, she wondered where her next check was coming from – it is all on her. She doesn’t have money fights with anyone. When dating, you tend to go out more and spend more.
  • Many single clients think it would be nice to have another person be a sounding board for financial decisions. However, if you are not on the same page, fights will happen. More times than not, couples are not like-minded.
  • Shannon joked that expenses go up when clients start dating (dating sites, clothing, lingerie, self-help books, etc.).
  • Dylan was a serial first dater, so her dinner and clothing costs were low.
  • Shannon moved to Atlanta for a guy, and then they broke up a month later. Dating helped her meet new people and explore the city.
  • Tonya said it is taken a step further in LA, with women getting Botox, fillers, and other procedures.
  • When you feel good about what you are wearing or what you look like, it shows in your confidence, but there is a fine line of taking it too far.
  • Be yourself and wear what you feel represents your best self. Don’t waste your time and money.
  • Tonya’s last serious boyfriend was very serious about money and always chose the lower cost dining options. For the most part, she has been on equal spending levels with people she has dated or they were good with money. Some of the people she dated in the past became more reckless later.
  • Dylan has always been better with money than the guys she dated. She moved back to Nebraska for a guy and bought a house, and he broke up with her eight months later. She was glad only her name was on the house.
  • It is better to be single than to be with someone who takes advantage of you financially.
  • If you don’t have a financial accountability person, you need to be disciplined, look at your money, and check your expenses. Schedule time to look at the numbers.
  • Make sure you have bills on autopay or that you have a family member who can step in if something happens to you.
  • Whether single or in a relationship, you want to make sure you can support yourself.
  • Make sure you are spending your money on things that you value and that you are maximizing your income potential.
  • Shannon said she is going to sell her house, because of the change in her finances over the last year.
  • Don’t over romanticize having another person in your financial life.
  • A current challenge for Dylan is rent and taking care of her dog in her apartment. She adopted the dog when she had a house. She likes that she can change her lifestyle without  anyone else having a say.
  • As a single person, you have the most flexibility and options. You are not limited, because there is not dual income, you have so many choices.
  • No matter your situation, you should always feel confident in your ability to manage your finances. Be aware of your money and where it is going.
  • What is your favorite part of your financial life, being single?
    • Melanie: She is relieved to not have to judge someone else’s financial choices or try to get another person on the same page as her.
    • Tonya: She can do whatever she wants, every decision is her own, and she doesn’t have to answer to anyone.
    • Shannon: She can own her money choices.
  • For a single person, every financial decision is a decision and it won’t end up in a fight.

TAKEAWAY: Whether or not we’re in a relationship, all of us should feel comfortable managing our money as a single person, meaning that we should all feel in control and confident with our finances. As I’ve seen and learned personally, you never know where life is going to take you, but you always know you’ll have to deal with money in some capacity so it’s better to get comfortable with it sooner than later.

If you have any topics you would like for us to talk about during happy hour, please feel free to email me at shannon@finblonde.com or tweet to me at blonde_finance or join the private martinis and your money facebook group and let us know. Until next time, take care!!

200th Episode – Listener Happy Hour

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martinis and your money

200th Episode – Listener Happy Hour

This is a super special episode for me to share with you, because it’s my 200th episode. Can you believe I’ve said “Hello Martinis and your Money listeners” 200 times now? Time flies when you’re having fun, and having fun is what I do when I record these shows for you and for me. When I was thinking about how I wanted to commemorate this event, the only thing I could think about was my amazing listeners – you, who are the reason why I take the time out to record and share this show. So I thought I would host a happy hour for some of my uber listeners, where I share some juicy info about this show, and about me personally, and let them ask me whatever they want. I hope you enjoy this conversation with my friends.

Jen – Tito’s Lemonade Vodka

Mabel – Shiraz Wine

Sherri – Black Box Cabernet

Shannon – Deep Eddy’s Vodka with grapefruit flavored sparkling water

Podcast Notes

  • Shannon announced that she is partnering with Bacardi, and she is about to kick off a five-city tour. It is a women’s empowerment summit for the hospitality industry, and she will be talking about financial fitness. Bacardi will be giving a one-month membership to every attendee as Shannon’s speaking fee.
  • Shannon started this podcast as a dare three years ago and has kept doing it because of her listeners.
  • Shannon asked each guest how they found this show:
    • Mabel followed Shannon to two events and introduced herself. She originally found this show through the Mad Fientist’s podcast when he was interviewing Mrs. Frugalwoods and she mentioned Happy Hour.
    • Jen is very interested in personal finance and found Shannon through YouTube. She saw a video that Shannon did with the Financial Diet. This show is the first podcast she has ever listened to, and she has listened to all of the episodes.
    • Sherri was never interested in personal finance and she wanted to educate herself. She googled personal finance podcasts and came across this one and loved it.
  • Shannon has recorded episodes that she hasn’t aired, because she didn’t get anything out of them. If she thinks the information may be helpful to listeners she will air it. She would rather replay an episode she has previously aired than expose her listeners to something she didn’t find value in.
  • Shannon gets requests every day from people who want to be on her podcast. Most requests are from people who have written books. She usually does not accept these requests, unless the books interest her in some way. She picks guests based on what she is interested in and what she thinks her listeners will be interested in.
  • Sherri now adds cinnamon to her coffee, because of what Shannon said in a recent episode.
  • The ladies talk about their favorite and least favorite episodes:
    • Mabel’s favorite episode is the Frugal or Cheap Happy Hour (Feb & Mar 2015).
    • Jen’s least favorite episode was called The Joys and Pains of Single Parenthood with Sarah Bettencourt. Her favorite episode was Credit Card Churning with Holly Johnson (Apr 2015).
    • Sherri’s favorite was Debt Repayment and Side Hustling with Melanie Lockhert. Another favorite was Open Enrollment with Charleton Lamb. Sherri will turn off the podcast if it doesn’t interest her.
    • Shannon’s all-time favorite episode was her story, The Struggle to Find Happiness, because she went through a lot and she wanted to share it with her listeners. One of the episodes Shannon really loved was The Importance of Positivity with her college roommate, Jill. She also loves the Happy Hours. They’ve recorded 34 episodes together so far. When Shannon wants to laugh, she will go back and listen to Happy Hour episodes. Shannon’s least favorite episodes are not aired. You can tell if she is not really interested, if she gets to the random three questions within 30 minutes.
  • Shannon said it is difficult for someone’s true self to come across in 45 minutes. She has personally had emails from people that don’t like her swearing and emails from people who do like her swearing.
  • Shannon shared a positive email she received from Hilary Hendershott after she aired her episode, Helping Women Talk about Money and Investing (Dec 2017).
  • The ladies asked Shannon about the boyfriend she briefly mentioned in a recent episode. Shannon shared a story about her not-fun online dating experience on Bumble. The boyfriend she mentioned isn’t from an online dating site, but happens to be her friend that gave her the first $15,000 for the gym. Shannon shared a story about almost getting caught by her son with her new boyfriend.
  • Mabel asked if there had ever been any difficult guests or anyone who drank too much while recording. Shannon shared that there was a Happy Hour episode where Melanie was in NYC and they went out drinking together prior to recording. Shannon said she didn’t remember much of the show afterwards. Shannon talked about one guest that drank too much and another that may have had a “Rocky Mountain high”.
  • Shannon shared that some of her favorite episodes include Frugality for Depressives, Disability Insurance – What you need to know, Minimalism for Anyone, Deep in Debt But Now Full of Life (Nov 2017),
  • Sherri and Shannon talk about the core philosophy the Financial Gym has about balancing life now and planning for the future.
  • Jen said she heard an episode where Shannon said the worst car she ever had was a BMW. Jen said she works for BMW and is the Marketing Director for several dealerships in her area. Shannon shared a story about how her ex-husband had a paid-off mustang and they both decided to trade it in for an expensive, convertible BMW.
  • Shannon said that she loves recording and sharing the podcasts with her listeners.

TAKEAWAY: The importance of commitment. I committed to this show three years ago. While it’s hard work and it takes time, it has led me to some amazing experiences on and off the show that I am so thankful for. I look forward to recording the next 200 shows.

If you need help committing to your financial goals, I hope that you’ll reach out to my team at The Financial Gym and find out more about what we do. No matter where you are in your financial journey, my financial trainers can help you get where you want to go. So head over to, or send friends to, financialgym.com/friends to sign up for a free call today. Also, visit the Gym’s site to find out more about our local money tribes that we’re kicking off across the country. You don’t have to be a Gym member to join in, you just have to be someone who is interested in chatting about all things personal finance with some cool people, while possibly enjoying an adult beverage at the same time. Look them up and get connected.

And until next time, take care!!

What’s the 411 on Ash Cash’s new 4:44 book?

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What’s the 411 on Ash Cash’s new 4:44 book?

Over the last four years of building my blog, this podcast, and my business, I have met a lot of people. For some people, I’m glad it was a one-time meeting, for others I’ve forgotten their names because they didn’t move me either way and others,  like this next guest, just leave an imprint on my soul. Today I’m talking to Ash Cash, personal finance expert and author, and from the moment I met Ash, I just felt like he lit my soul and my purpose on fire. So when I saw that he recently released a book inspired by Jay Z’s 4:44 album, I knew I had to have him back on the show and find out what (other than Jay Z) inspired him to write this book. As always, I enjoyed time with my friend and I hope that you do as well.

What are we drinking?

Ash — Ace of Spades

Shannon — Cava

Podcast Notes

  • Ash’s background is banking. He started as a teller and around 2008, he intentionally became a personal finance expert, because he didn’t feel that people knew what they were getting into with financial products.
  • Ash wanted to give people the information they needed to become financially free and manage their money better.
  • Ash has written six books, with the last one being released at the end of 2017. His recent book is called The Wake Up Call: Financial Inspiration Learned from 4:44, which was inspired by Jay Z’s album.
  • Ash tries to find ways to use pop culture to teach money lessons at different colleges, but people were asking for more than just a 45-minute presentation.
  • According to Amazon, the book is designed to teach African Americans how to manage money more effectively and how to manage generational wealth. The principles in the book can be related to anyone who reads it. What Jay Z was talking about in his music was geared toward the African American community. There were a lot of government rules and regulations that held African Americans back economically. We can collectively build a stronger economy and a culture that is inclusive.
  • Many of Shannon’s African American clients do not get the education at home growing up.
  • Because this book is associated with Jay Z’s album, it is targeting people who wouldn’t have normally picked up a personal finance book.
  • Jay Z is aware of the book, but Ash has not heard from him.
  • Ash felt an obligation to expand on the conversation that Jay Z started.
  • People who have read the book have purchased copies to send to friends and family. The book speaks in a language that people need.
  • It took Ash a month to complete the book, from beginning to end. The book was on pre-sale and sold 250 copies, before he was done with the book.
  • Ash was following a model for his books called Mind Right. However, right now, he is going to focus on promoting his newest book. He and his wife are working on a curriculum for those who want to teach on his new book. He is not ready to go back to his Mind Right focus right now.

TAKEAWAY: Financial inspiration or inspiration for living a better life can come from anywhere so never close your mind to the messages the universe is trying to deliver to you. I’m so glad that Ash was opened to the messages Jay was giving him because I know the words will change people’s lives.

Random Three Questions 

  1. What is another album that has inspired you?
  2. What is a show you like to binge watch?
  3. What do you like to do to relax?

Connect with Ash

The444book.com

Iamashcash.com

Twitter: @theashcashshow

Instagram

Facebook

If you need some inspiration to achieve your financial dreams, I hope you’ll reach out to my team at the Financial Gym and find out more about what we do. You can schedule a free call here to find out more. So head over to or send friends to financialgym.com/friends to sign up today! Also, visit the gym’s site to find out more about our local money tribes that we’re kicking off across the country. You don’t have to be a gym member to join in, you just have to be someone interested in chatting all things personal finance with some cool people while possibly enjoying an adult beverage at the same time. Look them up and get connected!

 

Dream, Girl with Erin Bagwell

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Dream, Girl with Erin Bagwell

I am constantly amazed at what other women are accomplishing and Erin Bagwell is one of those women. Erin always dreamed of creating her own movie and, thanks to a highly successful Kickstarter campaign, Erin created the movie Dream, Girl, a documentary about a subject that is near and dear to my heart – the stories of female entrepreneurs. Erin joins me today to share her journey that started as a dream in school and led to the White House.

What are we drinking?

Erin — Coffee

Shannon — Coffee

Podcast Notes

  • Erin wanted to make a movie since she was a little girl.
  • She made a video for a school project and she knew after she premiered it to her class that she would pursue film as a career.
  • Erin studied film in school, moved to NYC and worked in advertising for a couple of years, and became a feminist after she was sexually harassed at work. She created a blog called Feminist Wednesday and became obsessed with female entrepreneurs, after meeting a lot of women and hearing their stories.
  • Erin put together a Kickstarter campaign to produce the film and made $104,000 in 30 days. She has been working on her film Dream, Girl for almost four years.
  • Erin uses Jillian Foster’s definition of feminism: It is about the equality of the sexes, but it’s also about preserving other women’s rights. Give people the space to make their own decisions, whether you agree with them or not.
  • When people start to dissect things that are clearly fine and don’t need to be dissected, that is when we see dissent within the feminist movement.
  • Years ago it was feminism for me, then it was feminism for we. Now it is evolved and bigger and can be portrayed as negative.
  • There is a subconscious bias against women having any power or rights. There are a lot of systems that are benefiting and making money off of this.
  • Erin deeply connected with women entrepreneurs through her blog and feature three of them in the Kickstarter trailer. Her campaign went viral the last week and her backers gave her the names of other women they thought should be featured and the floodgates opened. She interviewed between 50 and 100 women to be in the film.
  • Shannon talked about the frustration of raising money for two years. Erin said women only get 3% of venture capital funding. We need to look at who is controlling the money. Women’s companies bring in 12% more revenue, and women control 65% of purchasing power in their homes.
  • The number one thing Erin hears when screening female entrepreneurs is how to get money and investors.
  • Shannon talked about her experience with venture capitalists.
  • Erin did the Kickstarter campaign in 2014 and released the movie in 2016. She showed the movie at the White House and brought the entrepreneurs and their families. A month after that, there was a screening in at the Paris Theater in NYC with 600 people and a red carpet.
  • The hardest part of making the movie has been her job selling the film.
  • Erin wrote a book call Creative Money, which is about assigning a value to your work and what to do about discounts.
  • Erin will view success by reaching the widest audience possible. There have been over 250 screenings since the release in May 2016. Erin has been traveling with the film and speaking. She is now looking for a global partnership. Erin is interested in making another movie.
  • Anyone can host a screening by purchasing the movie at dreamgirlfilm.com.
  • Don’t let the fear of looking for the money stop you from pursuing your dream. You will find the right investor who believes in your mission.

TAKEAWAY: Never give up on your dreams, no matter how long you’ve had them and how hard you will have to work on them. Erin has been building and growing Dream, Girl for over four years now, just like I’ve been building the Financial Gym for four years. Most dreams take time to fully realize so have patience so you can see them realized one day.

Random Three Questions 

  1. What is a movie that has influenced your life?
  2. Where is a place you wish you could travel to that you haven’t been to yet?
  3. If you won a million dollars, what would you do with it?

Connect with Erin

Instagram: @erin.bagwell

If you want to make some of your dreams a reality and need someone to help you along the way, I hope you’ll reach out to my team at the Financial Gym. We have clients achieving their dreams every day they they never could have realized on their own. You can schedule a free call here to find out more. So head over to or send friends to financialgym.com/friends to sign up today!