Episode 18: Financial wake-up call

On this episode… 

While the pandemic has brought numerous challenges and anxieties, it has also provided people with the opportunity to reset, both personally and financially. For best friends and former roommates, Molly and Ashley, NYC quarantine offered them each a chance to revisit their relationship with money, specifically their spending and saving habits. Exactly one year later, both women have transformed their financial mindsets and adopted money moves that will last beyond the pandemic.

This episode’s expert is Kara Stevens, money coach and Founder of The Frugal Feminista, a rapidly growing source for financial empowerment. Kara shares advice on how to reconnect with your money “why.”

Key Takeaways:

1. Identify your money values. Understanding your money “why” can help you break away from societal expectations about what you should do with your money or how you should feel about money.
   

2. Adopting a cash-only approach and creating a weekly money ritual to review your transactions are two great ways to alleviate the anxiety of falling back into credit card debt.

3. Use positive language when describing your financial identity, such as “consistent saver” or “responsible spender.”

4. Keep your goals at the forefront of your financial decisions. This will allow you to acknowledge your emotions, but not let them control you.

Want to learn more? Check out:

Financial attitudes: what's yours?

Your debt diagnosis

3 budgeting rules to help you save money