The Money Mindset Podcast

Whether you want to start your own business or a side hustle to help pay off your debt - one thing you should focus on first is your mindset!

Listen in as Nicole shares why having the right mindset is key to your success, tips on how to get started, how to manage mum life with business life and what you can do to make money for paying off your debt.

Meet Nicole...

I am a homeschooling Mom located in the San Francisco Bay Area. I am the founder of Fbombs & Booze. Which is a drinkware brand. We handmake wine glasses and tumblers with snark sayings and the heavy use of profanity. I quit my 6 figure job without a backup plan to save my mental health.

My products are sold on several eCommerce sites and are in over 100 shops and boutiques internationally. I am also a 1:1 coach for Women-owned handmade product-based businesses to help them scale their businesses.

“Options are endless and you are fully capable and there are so many people around that are willing to help you.”
- Nicole Chenault

Timestamps
04:14 - Nicole's Story
09:17 - Tips on getting started with a side business
14:06 - Mindset first
16:27 - Managing mum life and business life
20:38 - Tips for making money to pay off debt
24:40 - Last words of wisdom

Want to take the stress off your shoulders? Ready to learn how to create AND stick to your budget?! Check out my Free Workshop: How to Create and Stick to a Budget (even when you are overwhelmed)! Go to budgetsmadeeasy.com/workshop and get started today.

And if you enjoyed the podcast today and got some great takeaways, I’d really appreciate it if you followed the Money Mindset Podcast so you don’t miss out on future episodes.

Resources and Links Mentioned:

• Free Workshop: How to Create and Stick to a Budget: budgetsmadeeasy.com/workshop
• Code BUDGETS will give you 20% off our entire website: https://fbombsandbooze.com/?ref=b9H8wnL9

Book Recommendation:

• You are a badass at making money by Jen Sincero (affiliate link): https://amzn.to/3MWSm54

Connect with Ashley:

• IG: www.instagram.com/budgetsmadeeasy

Connect with Guest:

• IG: www.instagram.com/fbombsandbooze
• Facebook :www.facebook.com/fbombsandbooze
• Website: https://fbombsandbooze.com
• TikTok: www.tiktok.com/fbombsandbooze
• Pinterest: www.pinterest.com/fbombsandboozetumblers

Special Guest: Nicole Chenault.

Investing in real estate can often feel daunting and overwhelming. You don’t know where to start or understand all the jargon.

The key is to get educated so you can make informed decisions. Listen in as John shares why it’s important to buy over renting, when you should move from your home, dealing with renters, the right insurance and what options you have with zero or low credit.

A little bit about John...

John Papaloni was born and raised in Etobicoke, often referred to as Toronto’s West End. From an early age John developed a passion for buying and selling and this has led him on the journey as a successful business entrepreneur and now highly focused Real Estate Agent working in the Greater Toronto Area.

John Papaloni has a commitment to his clients that is unmatched and a passion to deliver Top Value through mastering all the latest technologies and engaging in the most effective marketing campaigns! John is well on track to achieving various awards in the real estate industry that will set him apart from the rest.

“Don't wait to buy real estate. Buy real estate and wait.” - John Papaloni

Timestamps
03:23 - John’s Story
06:55 - Don't wait to buy real estate. Buy real estate and wait.
08:21 - Buying over renting
09:31 - When it makes sense to move
11:19 - Dealing with renters
18:05 - Insurance for covering damages
22:02 - Insurance when renting out your own home
32:39 - Last words of wisdom

If you need help paying off your debt, go to budgetsmadeeasy.com/debt for your Paying Off Debt Starter Kit. This will help you really get going on your journey to longer-term investing strategies.

And if you enjoyed the podcast today and got some great takeaways, I’d really appreciate it if you followed the Money Mindset Podcast so you don’t miss out on future episodes.

Resources and Links Mentioned:

• Paying Off Debt Starter Kit: www.budgetsmadeeasy.com/debt

Book Recommendation:

• Compound Effect by Darren Hardy: (affiliate link) https://amzn.to/3OjdfZ0

Connect with Ashley:

• G: www.instagram.com/budgetsmadeeasy

Connect with John:

• IG: www.instagram.com/johnpapaloni
• Facebook: www.facebook.com/papaloniteam
• Website: www.papaloniteam.com

Special Guest: John Papaloni.

6 Simple Tips to Get Your Spouse Onboard with a Budget

Resources mentioned:
Free Beginners Guide: https://www.budgetsmadeeasy.com/budgeting-beginners-guide/

Transcipt:

Trying to figure our how to manage your money on your own is hard enough but getting someone else on board with the plan can make it even harder.

Especially if they don’t want to do the work or aren’t as motivated as you.

If you are like me, you are super excited and ready to run all in but having your partner not quite as excited as you can damper your mood.

It’s even harder if they don’t see the need for it at all and don’t want to budget, save, or pay off debt.

Both partners need to really see how managing your money better will benefit them. If they think you are just trying to control them or they don’t see the point, its not going to work.

This is why it’s so important to work together and at times compromise so that you can reach your bigger goals as a team.

Today I will be discussing a couple of tips that can help you work together as well. It’s important to try different things to find what works for both of you.

I have found that typically one partner is all into the budget and wanting to save and the other may have to be dragged along.

One of the biggest issues in my free facebook group, budgeting for beginners, is “how do I get my spouse on board” or something to that effect. I get this question constantly.

Now keep in mind that your partner may not be as excited about this as you. You also need to be mindful of how you talk to them and know that it may take them longer to see the benefit.

Do not talk down to them or talk to them in such a way that they are going to get defensive. Try not to blame them for all your money problems.

This will only make it worse and can cause them to completely shut down and dig in their heels.

Think of it from their perspective, how would you like it if someone told you were doing something wrong or causing all the money problems. It would make you shut down and get defensive.

Ok before we dive into the tips, go grab your free budgeting beginners guide and worksheet at https://www.budgetsmadeeasy.com/budgeting-beginners-guide/ I will also link to it in the show notes.

Ok, now onto the tips to get your spouse on board.
(#1) The best tip I have heard about this issue actually came from Adam Kol on episode #3 of this podcast.

He suggests sitting down separately and writing out what you want out of life. What are you bigger goals?

Now you should both do this separately and then come together to see what is the same, what you can do together, and what may not be possible.

It’s important that you both compromise on somethings when doing this exercise. The point of this exercise is to agree on your bigger goals together.

What do you both want to work towards?

It’s important to figure out what you both want to work towards that will motivate both of you.

Once you figure out the why then you can more easily figure out the how and it will make it easter to stay motivated.

(#2) The next tip that I always suggest to people is once you figure out what you both want to work towards, make a visual that will inspire you to keep going and stay focused.

This could be a savings tracker on your fridge, or a debt payoff tracker, whatever it is, keep a visual of your progress somewhere you can see it at least once a day.

You could also do a type of dream or vision board with pictures of your “why” or things that will inspire you to stay focused. So it could be pictures of your kids along with pictures of the beach or Disney World, college, your dream home, whatever it may be.

It’s important to keep visuals around that will help you stay motivated. Because there will be times that you feel like you’re not making any progress and want to give up.

If your spouse is not fully on board the visual may help them see the progress you are actually making. Especially if they aren’t dealing with the numbers like you. It will potentially help bring them around to being more motivated to make your dream really happen.

I spoke with a lady this week that was having a hard time with spending too much on food for her small family and issues with her husband staying focused on their long-term goal of building a house. They made around $150,000 a year together and yet are living paycheck to paycheck with nothing saved for their house or anything else for that matter.

This is the main suggestion that I made to her to hopefully get her husband to see, visually, that they needed to save for their dream house.
(#3) Th...

Making SMART goals is the best way to actually achieve your goals in the New Year. It's not enough to make New Year resolutions and then never acting on them. These 5 simple steps will set you up for success for the entire year, not just January.

Resources mentioned:
FREE $250 in 5 Days Saving Challenge
12 Monthly Saving Challenges

Full Transcript:
Welcome to the money mindset podcast where you will find the inspiration and motivation you need to manage your money better so you can stress less and live the life you want. Hey guys, it's Ashley with budgets fade easy and of course the money mindset podcast. Today I want to talk about how you can crush your [inaudible], your goals
in 2020 so we got some big things that I really want you to accomplish this next year and it takes planning now. And so to get ready to really crush your goals next year, we're going to talk about five simple steps to get you there. And we are also going to do a free savings challenge in my free Facebook group. You can go to budgets made easy.com/saving-challenge and of course I'll link to it in the show notes, but the free challenge savings challenge starts on January 10th and it will be to save $250 in just five days. So it'll help you get started on your, um, $1,000 small emergency fund so that you can get started on paying off your debt. So you've got to save money first and then start paying off debt. So January is all about getting that thousand dollars saved in this challenge. We'll get you a quarter of the way there and we'll give you the tools and tips and tricks to get you the rest of the way there.
But I really want you to focus and hone in on getting that savings goal done in just five days, $250 in five days and tons of little tips and tricks to get you there. So it's free to sign up. Go to budget's made easy.com/saving-challenge and it will get you there. And then you can also, whenever you sign up for that, you will get a special one time offer and it's only valid for 20 minutes to get a special discount on the monthly savings challenges as well. So go ahead and check that out. There's a different savings challenge for every month. Different things to do to kinda change it up, make it fun and interesting throughout the year. But remember, I want you to save this thousand dollars as quickly as possible. I don't want you to take the whole year to save up your thousand dollars, but each month has different challenges to just kind of make it fun, build new habits so that you can really reach your goals next year.
So, you know, it's the time of the year that we are beginning to think about next year and our new year's resolutions. And then around March, April we start to lose steam and we just stop focusing on our goals. If we, even honestly, if we even made it to April, you know, March is about the time that people start to lose traction on their new year's resolution. So I don't you to make a new year's resolution that you can't keep. Like I want you to be very intentional about why you want to reach this goal and how to get there. So you know, in order to start paying off debt and saving money, you will stress less. You'll be able to save more and you'll be able to really gain confidence and hope in your financial situation. Because that's the big thing that I want you to accomplish is just have hope.
And whenever you make your plan, that gives you hope, even if you haven't accomplished anything yet on your goals, just making the plan, you can see that it's possible and that you can do it. And that just really helps give you momentum. So there's five steps to reach your goals next year. And it's called smart goals. If you haven't heard of smart goals, they're my favorite. Uh, you know, you're their specific, I forget, I forget what all the acronyms are, but basically it's to make specific measurable, um, realistic, timely, and, um, I always forget what the a is, but you know, it's to be specific and make measurable and timely goals. That's the big thing and goals that you can actually do. So, you know, actually, you know, if you're 60 years old, you know, are you going to be able to run a marathon? Well, you can.
Um, but it's going to take a lot of practice and a lot of work and you may not physically be able to. So, you know, it needs to be a goal that you can actually do in the timeframe that you set. So I want you to be realistic about your goals. And in order to make your smart goals, it takes some planning out. So in deciding on some major benefits of your life, you know, for one, it helps you make progress and not stand still in life. It helps you be successful in life in many ways, not just in your finances. Like you can make smart goals for anything. Um, but you know, setting financial goal...

Chris and his wife paid off $50,000 in 4 years plus find out if he thinks you should invest or pay off debt first.

Chris Browning is the creator and host of the award-winning, short-form podcast, Popcorn Finance. Each week he discusses finance with amazing guests in about the time it takes to make a bag of popcorn.

Chris holds a bachelor’s degree in Finance with an emphasis in financial planning and still maintains his position as a financial analyst specializing in revenue analysis.

Website: www.PopcornFinance.com
Social: Instagram/Twitter @popcornfinance

Resources mentioned:
Debt Snowball Bundle
Dollars and Sense by Dan Ariely(affiliate link)

Full transcript:

Welcome to the money mindset podcast where you will find the inspiration and motivation you need to manage your money better so you can stress less and live the life you want. I'm Ashley Patrick with budgets made easy and the money mindset podcast. Today we are talking to Chris Browning who is the creator and host of the award winning short form podcast, popcorn of finance. Each week he discusses finance with amazing guests and about the time it takes to make a bag of popcorn. He does hold a bachelor screen finance with an emphasis in financial planning and still maintains his position as a financial analyst specializing in revenue analysis. So today we are going to talk to him about his debt pay off story and also I did want to get his opinion on whether you should invest or pay off debt. And so we will jump into that here in just a minute before we start his interview.
I do want to mention, uh, for you to go get your free debt snowball bundle. This has worksheets and spreadsheets to get started on your debt snowball today. Uh, you can get that for free. A budget's made easy.com/debt-bundle. So go ahead and go grab that to get started on your debt snowball and paying off debt in this new year. And now we will talk to Chris about how he paid off almost $50,000 in about four years. All right. Today we are talking to Chris, the founder of popcorn finance. And today we're going to talk about his debt pay off story, which is pretty neat and how he loves tiny homes. So before we jump in and get started, can you just tell us a little bit about yourself and kind of, you know, about how you started on this journey?
Ah, yeah. Well thanks Ashley. I really appreciate you having me on. And uh, yeah, so about my, my journey, specifically my debt free journey or just the podcast journey in general,
uh, just about yourself in general and then how you started paying off. What, um, kind of motivated you to start paying off your debt.
Oh yeah. So, uh, for, for me, I didn't have a lot of debt growing up, so, you know, right out of college I got a small credit card, but it ended up paying that off relatively quickly, mainly because they wouldn't give me a high limit.
Yeah.
It's all kind of forced me not to be able to go that far into debt. But then when my wife and I, uh, got engaged and we were getting ready for the, uh, the wedding, that's kind of where the debt started to pile up. We didn't really have much saved up. And what ended up happening was when all the bills started rolling in, we had to take on himself. That's really the ourselves and it kind of spiral from there. So it was combination of a wedding. Dad went on a honeymoon, uh, getting into our first place, a behind furniture and some school and medical expenses, all that together, piled up and put us in about $27,000 worth of credit card debt.
Ooh. So did you have like an aha moment that was like the breaking point, you're like, something has got to change.
Yeah. You know, I, I knew that the debt was piling up. I wasn't really tracking it or adding it all up, but one day, I don't know why, I was just like, you know, let me just look at this and see where we're at. And that's what I saw, how high the balances got into, cause it was spread over about three cards. And that's when they kind of hit me. And it was, it was really the stress and anxiety of knowing that I had this huge sum of money that we owed. And at the time I think combined, we're making somewhere between 40 to $50,000 combined. And so our debt was over half of our actual income or our before tax income. So that's when the stress where they set in and I was like, we have to do something about this.
Wow. That. Yeah. That's pretty amazing. So, and you have a degree in finance, right?
Yes. And that made it all worse because I should have known better and I knew what I should be doing. But it's one thing to know and it's a completely different thing to actually implement those, those practices. And those, those, you know, routines in your life that'll he...