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 Apr 09, 2020
Thursday Apr 09, 2020
#022: Thinking about death and estate planning is probably the absolute last thing you feel like doing, right? But here’s the thing—if you want to be sure your wishes are honored after you're gone, you need a plan.
In this episode, Heather Satin of Satin Legal shares her extensive knowledge of estate planning and makes a particularly scary topic seem a little easier to understand. Heather gives us so much valuable information—from the importance of having an estate plan and HIPAA forms in place to choosing guardians for our children and beneficiary designations.
(02:35) Heather explains why it’s so important to have an estate plan and what happens to your estate if you don’t have a plan in place if something happens to you
(09:17) Why parents of minor children need to have a plan in place rather than relying on the state to handle their estate
(14:31) What we, as parents, should consider when choosing a guardian for our children
(34:23) When it’s worth considering a trust and what could go wrong with beneficiary designations and life insurance if you don’t have a trust in place
(40:24) How we can make sure our estate plan doesn’t just plan for our death but also plans for end of life care and medical issues
(51:46) At what point kids entering adulthood should have their own forms of power of attorneys in place
(1:04:28) Chelsea’s Top Takeaways
Looking for more information, mama? Visit the show notes at https://www.smartmoneymamas.com/heather
Free Financial Emergency Preparedness Checklist: https://smartmoneymamas.com/financial-emergency-preparedness-checklist/
Monday Apr 06, 2020
Monday Apr 06, 2020
#021: Are you financially prepared today if something were to happen to you tomorrow? Financial emergency and estate planning often falls into that “important but not urgent” area of our to-do list that gets pushed off time and again.
In today’s episode, I’m sharing everything you need to know about effective financial emergency planning so you can feel at peace knowing that your family is taken care of in the event of the unspeakable. I will discuss the different types of insurance most families need, wills and trusts, how to keep all of your financial records organized, and so much more.
(02:56) Why establishing a robust emergency fund is a must
(06:18) 5 core types of insurance most families need
(11:18) Why, if you have children, you absolutely need a will to be sure your wishes are honored
(15:49) The importance of creating a Family Emergency Binder
(18:29) The purpose of a grab & go bag and creating a disaster plan for your family
(21:11) Chelsea recaps the steps to an effective emergency plan
Looking for more information, mama? Visit the show notes at https://www.smartmoneymamas.com/21
Free Financial Emergency Preparedness Checklist: https://smartmoneymamas.com/financial-emergency-preparedness-checklist/
Thursday Apr 02, 2020
Thursday Apr 02, 2020
#020: Do you crave more options and greater freedom in your finances? You’re definitely not the only one. Obtaining financial security can sometimes feel impossible, but if we can learn to identify the emotional roadblocks standing in our way, the journey can be so much smoother—even enjoyable.
In this episode, Chelsea talks with Kiersten Saunders of Rich & Regular, a blog dedicated to the simple goal of providing an honest, informative take on how to improve your life through mastering personal finance. She shares how she and her husband overcame their differing views of money, the steps she took to permanently change her money habits, and how you can become better with your money and find success on your own journey to financial security.
(08:10) Kiersten explains her and her husband’s differing views on money and how their first discussion about finances came about
(15:58) The first steps Kiersten took to change her money habits permanently
(26:08) How she and her family decided what kind of house they wanted, how much they would spend, and what worked best for their family
(35:37) The first steps you need to take in your own journey to become better with your money
(38:40) Kiersten talks about why her main focus is creating more black millionaires and how her platform is changing the narrative
(43:41) Chelsea’s Top Takeaways
Looking for more information, mama? Visit the show notes at https://www.smartmoneymamas.com/kiersten
Free Financial Emergency Preparedness Checklist: https://smartmoneymamas.com/financial-emergency-preparedness-checklist/
Monday Mar 30, 2020
Monday Mar 30, 2020
#019: Still have questions about growing your wealth through investments and diversified income streams? 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 investment accounts available to you or get inspired to invest in yourself and your side hustle, today’s episode will help to clear the confusion surrounding some of the most common questions regarding investing and growing your wealth.
(04:39) What to do if you feel uneasy about parting with your hard-earned money and investing during unknown times
(07:14) Is it too late to start investing, and if not, where do you even start?
(11:24) The difference between all retirement plans such as 401k, 403b, Roth, IRA, and so on
(15:35) Why investing in yourself to pursue a side hustle is worth the risk and tips on how to make it work
(18:37) Steps you can take to make your retirement accounts more diversified and well-rounded as a small business owner
(20:27) With everything going on with COVID-19, is this a good or bad time to start investing?
Looking for more information, mama? Visit the show notes at https://www.smartmoneymamas.com/19
Free Money Mamas Guide to Investing: https://smartmoneymamas.com/mamas-investing-guide/
Free 200+ Home Business Ideas: https://smartmoneymamas.com/home-biz-ideas/
Thursday Mar 26, 2020
Thursday Mar 26, 2020
#018: Have you ever considered flipping houses? What about living in them, with your kids, through the renovations? I promise, it’s not as crazy as it sounds. And If you’re just getting started in real estate investing, it could actually be a really great option for you.
In this episode, Chelsea talks with Mindy Jensen, community manager of Bigger Pockets, host of the Bigger Pockets Money Podcast, and the author of the book - How to Sell Your Home. Mindy shares how live-in flips work, what it looks like with kids, and how to sell your house for the best price—whether you’re a real estate investor or just ready for your next home.
Looking for more information, mama? Visit the show notes at https://www.smartmoneymamas.com/mindy
Free Money Mamas Guide to Investing: https://smartmoneymamas.com/mamas-investing-guide/
Monday Mar 23, 2020
Monday Mar 23, 2020
#017: Have you thought about starting a side hustle but aren’t sure your idea will make any money? That it might be a giant waste of your time? Until you give yourself permission to explore the idea and get out there and try it, you can’t possibly know. And if you don’t put yourself out there, you’ll never find the perfect side hustle for you—the one that lights you up!
Whether you just want to earn a little extra cash or pursue your dream business by starting it on the side, today’s episode will walk you through 4 steps you need to take to build a profitable side hustle.
(02:17) The first step you need to take to start a profitable side hustle
(05:39) The importance of taking your time with choosing a side hustle that’s right for you
(06:48) The necessary action steps you can take today to help you choose the best side hustle for you
(14:44) Why you have to put yourself out there in order for your side hustle to succeed
(18:01) Why it’s important to make a commitment to yourself
(20:15) Chelsea recaps the 4 steps to starting a profitable side hustle
Looking for more information, mama? Visit the show notes at https://www.smartmoneymamas.com/17
Free 200+ Home Business Ideas: https://smartmoneymamas.com/home-biz-ideas/
Thursday Mar 19, 2020
Thursday Mar 19, 2020
#016: As a single mom, it can seem impossible to build wealth, let alone make enough to support your family, right? The narrative out there for single moms makes us believe that we have to struggle to support our little ones while trying to earn enough to make it by.
In this episode, Chelsea talks with Emma Johnson, founder of Wealthy Single Mommy, the world's largest platform for single moms. Emma shares how she’s empowering moms from all over to break the narrative out there that says it’s next to impossible to build wealth and security as a single parent.
Episode Highlights:
(04:31) Emma shares her backstory and how she was able to go from struggling with her finances to a wealthy single mama
(09:48) How to start to change your mindset surrounding finances and how to not feel ashamed about where you’re at right now
(17:02) How Emma encourages women in her community to release the anger towards their exes
(25:06) How to overcome mom guilt when you’re a working mama
(31:21) Emma’s 3 key pieces of advice to surviving and thriving as a single mom
(51:49) Chelsea’s Top Takeaways
Looking for more information, mama? Visit the show notes at https://www.smartmoneymamas.com/emma
Free Money Mamas Guide to Investing: https://smartmoneymamas.com/mamas-investing-guide/
Monday Mar 16, 2020
Monday Mar 16, 2020
#015: We’re all taught that we need to invest and prepare ourselves for retirement, right? But how do we do that when the world of investing seems so complicated and hard to navigate? Don’t fret, we’ve got you covered!
In this episode, Chelsea covers investing tips for beginners—what all new investors need to know to get started, costly mistakes to avoid, and easy to understand examples of investing and the power of compound interest.
Episode Highlights:
(1:51) Chelsea dives into the main reasons why you should invest
(4:34) Why investing is particularly important for us mamas
(11:20) What you need to know about the fees associated with investing & what to look out for
(15:01) How to handle the ups and downs of investing
(16:01) How and where to get started investing
Looking for more information, mama? Visit the show notes at https://www.smartmoneymamas.com/15
Free Money Mamas Guide to Investing: https://smartmoneymamas.com/mamas-investing-guide/
Thursday Mar 12, 2020
Thursday Mar 12, 2020
#014: Would you love to have money rolling in each month from more than just your day job? If so, now is the perfect time to start thinking about multiple streams of income. Whether you’re an entrepreneur or not, having more than one income stream is a guaranteed way to grow your wealth and have more flexibility within your finances.
In this episode, Chelsea talks with Tiffany “The Budgetnista” Aliche, an award-winning teacher of financial education, about how multiple streams of income can provide stability in your life. She also shares some ideas to expand your income streams and tips on where you should get started.
Looking for more information, mama? Visit the show notes at https://www.smartmoneymamas.com/tiffany
Free 200+ Home Business Ideas: https://smartmoneymamas.com/home-biz-ideas/
Monday Mar 09, 2020
Monday Mar 09, 2020
#013: Traditionally, we’re taught the way to earn an income is by going to our jobs - trading time for money, right? Well, with passive income, you can earn money without the need for continued work.
In this episode, Chelsea introduces the concept of passive income, discusses how you can get started earning more money on the side of your traditional 9-5, and her best tips to make sure you don’t get overwhelmed in the process.
Looking for more information, mama? Visit the show notes at https://www.smartmoneymamas.com/13
Free 200+ Home Business Ideas: https://smartmoneymamas.com/home-biz-ideas/