Where moms come together to learn about money – in all the ways it impacts our lives – with love. Discover how you can feel confident with your finances; ditch the money shame and guilt; raise independent, money-savvy little humans; and give yourself the freedom and stability to live your best life. We’ll discuss budgeting, debt freedom, investing, career development, entrepreneurship, and more.
Episodes
Thursday May 14, 2020
Thursday May 14, 2020
#032: In today’s episode, I’m talking with Leah Remillet from The CEO Kid. Leah is an international speaker and trainer specializing in business growth without compromise. Her mission is to activate leadership and business skills in kids to prepare the next generation of self-reliant, confident entrepreneurs. We’ll cover how to teach your kids about money management, prepare them for success in the workforce, and encourage them to flex their entrepreneurial skills. Leah is so much fun to talk to, and I guarantee that by the end of this episode, your mind will be racing with ideas to implement with your own kids.
(04:27) Leah’s Advice for moms forced into homeschooling that are trying to come up with ideas and activities for their kids during this time
(07:51) How to prepare your kids with the skills necessary to enter the real world and workforce
(16:18) How to encourage your kids to build their people management skills so they can understand how to relate to other people
(24:47) Why entrepreneurship is so powerful in teaching kids creative problem solving, the number one thing employers look for
(38:00) How to teach your kids money management skills with the profits from their business idea
(53:50) Chelsea’s Top Takeaways
Looking for more information, mama? Visit the show notes at https://www.smartmoneymamas.com/leah
Family Money Values Template:
https://smartmoneymamas.com/family-money-values-template/
Monday May 11, 2020
Monday May 11, 2020
#031: Allowance is one of the core ways parents can teach their kids about money. But it's also one of the places where we can make mistakes if we’re not intentional. We know it’s not as simple as handing our child money every week or every month and walking away. So how do we avoid allowance mistakes and set up a successful and empowering system instead?
In today’s episode, Chelsea will cover 5 of the most common allowance mistakes parents make and how to turn each one into a positive action. By knowing what these mistakes are, you will be in a better position to help your child learn healthy money management that aligns with your family’s core money values. We’ll cover how to avoid making saving money feel like a punishment for your kids, how to let them make their own money mistakes, and how to decide whether or not they’ll receive an allowance as a result of completing chores.
(05:46) Mistake #1: How not starting allowance early enough can cause your kids to miss out on vital money lessons
(07:18) Mistake #2: Making the idea of saving money feel like a punishment & what to do instead
(11:18) Mistake #3: Why being inconsistent teaches your kids the wrong lessons about money
(14:10) Mistake #4: Not letting your kids make their own money mistakes & tips to help them when they do
(17:20) Mistake #5: How to help your children handle outside money messages
(20:29) How to flip the script & turn each of these mistakes into a positive action that builds a successful, empowering allowance practice
Looking for more information, mama? Visit the show notes at https://www.smartmoneymamas.com/31
Family Money Values Template:
https://smartmoneymamas.com/family-money-values-template/
Thursday May 07, 2020
Thursday May 07, 2020
#030: In today’s episode, Chelsea is talking with Jennifer Petriglieri, an Associate Professor of organisational behaviour at INSEAD business school and the author of Couples That Work, a book about how working couples can thrive in their careers and relationships. Creating healthy, lasting relationships while allowing your career to thrive is possible. And it’s Jennifer’s specialty.
Jennifer will take us through the 3 major transitions that dual career couples face throughout the course of their relationship—from how to have those first conversations and the concept of “couple contracting” to making a habit of treating your partner with kindness and how to handle logistics once the foundation for your long-term goals has been set.
(07:24) How to navigate potential issues that may come up during the first transition with both parents working
(11:37) How to facilitate a conversation with your family to let them know you want to keep working, even if you only make enough to cover child care
(15:24) Jennifer explains the concept of “couple contracting” and the 3 main elements that the contract must cover
(33:35) How to have conversations with your kids to make sure that the family dynamic remains stable when making decisions
(38:51) Jennifer shares her advice on how to split household duties once you have a foundation of what you want your career priorities to look like
(46:00) Chelsea’s Top Takeaways
Looking for more information, mama? Visit the show notes at https://www.smartmoneymamas.com/jen
Family Money Values Template:
https://smartmoneymamas.com/family-money-values-template/
Monday May 04, 2020
Monday May 04, 2020
#029: The practice of defining your family money values is an incredible way to start or improve money conversations with your loved ones. In today’s episode, we’re going to walk through the big pillars of defining your family money values—from how to start these conversations and how to decide what your family’s values are to tips for defining your long-term vision and incorporating your kids into the conversation. When your family has a shared value system and money narrative, everyone knows what’s important and how financial decisions are made, and that gives you all focus as your work toward your family’s financial goals.
(03:22) Why identifying the money stories, hang-ups, and beliefs you and your spouse have is a crucial first step
(07:44) How to decide what your family’s life values are
(09:23) Tips for deciding what security means for your family
(11:44) How to define your priorities and create a long-term vision
(14:20) Ways to incorporate your kids and the money lessons you want them to learn
(16:53) The importance of choosing family money mantras
Looking for more information, mama? Visit the show notes at https://www.smartmoneymamas.com/29
Family Money Values Template:
https://smartmoneymamas.com/family-money-values-template/
Thursday Apr 30, 2020
Thursday Apr 30, 2020
#028: In today’s episode, I’m talking with Jean Chatzky, a long-time financial journalist, who created HerMoney Media—an extension of her successful HerMoney Podcast—to encourage more women to embrace the sometimes uncomfortable topic of money and how it can be used to help them live less stressed, more purposeful lives.
Jean will share with us her 5 simple, but very important, steps that all women need to take to reach financial security. After listening, you’ll have learned the importance of earning a decent living, spending less than you earn, how to tell if your retirement is on track, and so much more. Reaching financial security is possible, and this episode will show you just how simple it can be for you.
(07:01) Jean’s 5 basic steps that all women need to take to reach financial security
(09:23) Why it might be a good idea to stay in the workforce even if child care is eating up most of your salary
(22:08) Jean shares her experience and opinion on whether or not real estate is still a good option for investing your money
(32:41) How you can decide how much is enough to save when it comes to your complete investment portfolio that secures your retirement
(37:06) How to use an allowance system as a tool to teach your children how to make smart choices with a limited resource
Looking for more information, mama? Visit the show notes at https://www.smartmoneymamas.com/jean
Free Financial Emergency Preparedness Checklist: https://smartmoneymamas.com/financial-emergency-preparedness-checklist/
Monday Apr 27, 2020
Monday Apr 27, 2020
#027: Still have questions about financial security during these times of financial uncertainty? We’ve got you covered in this special Q&A style episode made possible by the mamas in our Mamas Talk Money Facebook community.
Whether you want to learn more about different types of insurance and long-term care or retirement planning strategies, today’s episode will help to clear the confusion surrounding some of the most common questions regarding financial security.
(01:22) How life insurance works and what the difference is between whole and term life insurance
(06:44) How to prioritize insurance premiums when you might be struggling each month financially
(10:46) How does critical illness insurance work?
(12:27) Is pet insurance a good idea? If so, what should you keep in mind when shopping for insurance?
(15:340 Is a 401K still the best vehicle to save money in?
(18:27) How much should you be saving for retirement?
Looking for more information, mama? Visit the show notes at https://www.smartmoneymamas.com/27
Free Financial Emergency Preparedness Checklist: https://smartmoneymamas.com/financial-emergency-preparedness-checklist/
Thursday Apr 23, 2020
Thursday Apr 23, 2020
#026: In today’s episode, Chelsea chats with Kumiko Love of The Budget Mom who paid off $77,000 of debt, and more recently, bought her dream home...in cash! They cover Miko’s journey—how her money mindset played a major role as she paid off debt and started to reach for bigger goals, what financial security and independence means for her, and dive into her process for getting started on your own debt freedom journey. There is so much power, freedom, and security in getting out of debt and giving yourself more options. We hope this episode will inspire your own journey, whether you’re well on your way or just getting started.
(08:24) How Kumiko would reward herself whenever she would hit a goal and how those rewards were part of her biggest mindset shift
(12:19) Kumiko shares what financial security and financial freedom mean to her
(17:46) How to get started with paying off debt even when you don’t believe it’s possible
(20:21) Kumiko’s 3-step process for creating a successful budget as well as how to budget when you have fluctuating income
(36:48) What she wishes all moms knew about money
(39:50) Chelsea’s Top Takeaways
Looking for more information, mama? Visit the show notes at https://www.smartmoneymamas.com/kumiko
Free Debt Payoff Trackers:
https://smartmoneymamas.com/debt-payoff-trackers
Monday Apr 20, 2020
Monday Apr 20, 2020
#025: How would you feel if you were debt free? Unburdened? Secure? Confident?
Ridding ourselves of consumer debt and learning to live within our means is a powerful thing. It opens up the doors to opportunities we previously didn’t think were possible.
In this episode, Chelsea breaks down 6 simple steps to get your debt paid off the right way. Debt payoff journeys are never easy—they take commitment to keep at it through all the ups and downs of life. But you can do it—and do it with joy. We’re going to cover different strategies to get your debt paid off faster, the #1 thing you need to stay motivated throughout this journey, and how to determine how much extra money you have per month to put towards debt. If you’ve been wanting to get your debt paid off, this episode is a must listen.
(01:30) Step One: How knowing your “why” for getting out of debt is the key to success and sticking to your debt freedom journey
(03:31) Step Two: How to get up close and personal with your budget to get a better idea of how much extra money you can put towards your debt
(05:38) Step Three: Checking in on your emergency fund and how much to have saved before starting your debt payoff journey
(07:46) Step Four: How to decide which debt to start paying off first, including different strategies to get your debt paid off the fastest way possible
(11:40) Step Five: Making moves to start paying off your debt
(13:22) Step Six: Find ways to earn more money to speed up your debt payoff journey
Looking for more information, mama? Visit the show notes at https://www.smartmoneymamas.com/25
Free Debt Payoff Trackers:
https://smartmoneymamas.com/debt-payoff-trackers
Thursday Apr 16, 2020
Thursday Apr 16, 2020
#024: Trying to navigate the world of personal finances can be challenging with a special needs child. Fortunately, there are resources that can help.
In this episode, Brynne Conroy of Femme Frugality shares her extensive knowledge on how to navigate the world of personal finances with an autistic child. She’ll cover how to help your child get the resources they need, how to budget, plan, and save for expenses associated with a special needs child, how to prepare your child to advocate for themselves when they enter adulthood, and some insight on how to support special needs children and their families.
(11:17) How you can advocate for your child during the diagnosis process and what you can do to help them get the resources they need
(21:15) What ABLE accounts do and how you can use them
(25:28) Why having a special needs trust is better than just naming your child as a beneficiary of an insurance policy
(30:00) How you can budget, plan, and save for what your upcoming expenses may be with a special needs child
(34:39) How to prepare your children to advocate for themselves in seeking a career advice for them
(40:58) Chelsea’s Top Takeaways
Looking for more information, mama? Visit the show notes at https://www.smartmoneymamas.com/brynne
Access Brynne's free Medicaid & Autistic Children: A State-By-State Guide for details on what benefits your child may be eligible for!
Free Financial Emergency Preparedness Checklist: https://smartmoneymamas.com/financial-emergency-preparedness-checklist/
Monday Apr 13, 2020
Monday Apr 13, 2020
#023: Have you ever wanted to know the full story of how I left my investing career to start Smart Money Mamas? And why helping women embrace their money and afford lives of their dreams is my passion and purpose?
In today’s episode, I’m going to be getting pretty vulnerable with you. While it’s a time for celebration (it’s my birthday!), it's also time I shared with you the backstory of Smart Money Mamas, how it came to life, and my vision for the future. I will discuss my life before starting Smart Money Mamas, how I took a leap of faith to leave my high-paying job, as well as Maslow’s Hierarchy of Needs and how it applies to the way we make decisions surrounding money. I’m so excited to share this episode with you so you can have a better understanding of who we are and why we do what we do here at Smart Money Mamas.
(01:52) Chelsea shares her back story and a bit about who she was and her life before starting Smart Money Mamas
(04:53) How Chelsea took a leap of faith starting a blog to help other women by answering their money questions.
(09:14) Maslow’s Hierarchy of Needs explained and how it relates to your money
(12:33) Chelsea describes the vision for Smart Money Mamas, who it’s for, and how it can help you
Looking for more information, mama? Visit the show notes at https://www.smartmoneymamas.com/23
Free Meaningful Money Goal Guide:
https://smartmoneymamas.com/meaningful-money-goal-worksheet/