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The Money Mindset Podcast

130 Episodes

34 minutes | Mar 15, 2023
#131 BBMU - How Much Does $100 Extra Make When Paying Off Debt?
How much of an impact does an extra $100 per month have on paying off debt? Listen to this episode to find out as Ashley delves into the topic of paying off debt and emphasizes the importance of making consistent payments to achieve financial freedom. She provides a clear breakdown of the numbers to demonstrate how an extra $100 per month can significantly impact debt pay off. Additionally, Ashley gives an example scenario to illustrate the importance of consistent payments towards debt. Hosting Today: Hey, I’m Ashley Patrick, a personal finance expert and founder of Budgets Made Easy. I help busy moms create systems to save money and pay off debt so they can reach their big dreams faster and easier. I was able to pay off $45,000 in just 17 months including $25,000 in student loans in just 10 months. I’m a Master Financial Coach and have a bachelor's degree in psychology and will help you get to the root of your money problems. Since my journey started I have been featured on Fox Business, Yahoo! Finance, Food Network, USA TODAY, MSN, CNBC, NerdWallet, and many others. “When you are intentional and you are sending extra money to debt, which method you use does not make a difference. It might, if it's taking you a long, long time and you're starting and stopping and all of those things, it could make a difference. But when you are being really intentional about it, it doesn't make a difference. Like it really doesn't.” - Ashley Patrick Timestamps: 03:35 - Introduction to the episode's topic 05:00 - Discussing the potential impact of making $100 towards debt each month 09:21 - Example scenario with three credit cards using the debt snowball method 13:34 - Comparison between the debt snowball and debt avalanche methods 19:43 - Celebrating wins 30:46 ­- Using tax refund to pay off credit card Do you wish you had a supportive group of women like you to connect with about money? Come join me for a Budget Bestie Meetup on The Money Mindset Podcast, and let's learn and grow as a community! You can sign up at budgetsmadeeasy.com/meetup. 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: Book your Budget Bestie Meetup episode here-> www.budgetsmadeeasy.com/meetup Connect with Ashley: Instagram: www.instagram.com/budgetsmadeeasy
31 minutes | Mar 13, 2023
#130 Should you save for retirement or pay off debt?
Have you thought about stopping retirement contributions because some finance guru told you to pay off your debt first? Or maybe you aren’t sure if you should start contributing when you have debt to pay. A lot of people will even tell you to go ahead and pay off the high interest rate first because it accrues more than the market…. Well today I’m going to discuss the actual numbers and how all that logic is flawed except for in a very very small fraction of the population. I’m Ashley with Budgets Made Easy and you’re listing to the Money Mindset Podcast where we help support you with your debt pay off journey without all the shame and guilt so you can let go of the fear of failing and start living the life you deserve! Before we get started, don’t forget that for the month of March 2023, we are accepting entries for the week of giveaways! All you have to do is leave a review for the money mindset podcast, take a screenshot and submit it at www.budgetsmadeeasy.com/giveaway The calculator I used - https://www.calculator.net/debt-payoff-calculator.html Now let’s discuss holding off retirement savings when you have debt. When we were paying off debt, I was not comfortable with doing this at first, even though I was listening to Dave Ramsey at the time and he said it over and over. I now longer follow Dave and generally can’t stand the man anymore, which I discuss more in detail as to why in episode 62 - Why I quit Dave Ramsey. At the time that I was considering stopping contributions to retirement, We had already paid off 2 of our 3 debts. The last debt was my student loan debt and our largest debt and it was accruing over $5 a day in interest! So I wanted it paid down fast. It had been 10 years since I graduated college and I had only paid off around $3000 in that time. So I was motivated to get it done quickly. We had consistently put in around 3% each plus 6% into my pension + 5% from the town I worked for for over 10 years. We were in our early 30s still so we had a lot saved and we will retire as millionaires even if we didn’t contribute another penny. When trying to decide if it was worth it or not, I did the math to see if it would be worth paying off the debt with our retirement contributions. I did not have a choice on contributing the 6% to the state pension and the town put in 5% for me that did not cost me anything. So even with stopping extra contributions, I had 11% going into my retirement. Now I can’t remember the exact numbers since it was in 2016 and I had no idea that I would be starting this career within a year and talking about our journey so much but I think we were putting around $4-500 a month toward our 401(k)s at this time. I knew that after taxes, I could bring home around $300-$400 per month to apply toward our largest and highest APR debt. But the APR was only 6.75% or right around that. At this time, I did not know about the rule of 72. Which I will explain in great detail in just a minute. It seemed like a good option to help us do it faster so that we could get back to saving for retirement. I did not really consider all the factors going into this decision because I just didn’t know and a guy who seemed more knowledgeable about it than me said to do it. The problem with this thinking though is that once you start bringing home the extra, it’s hard to start sending it again and not have that coming home in your paycheck. You get comfortable with the paycheck amounts and it’s hard to hit the button again to not have that money each month. We ended up not turning back on contributions for longer than I wanted because I wanted to save but then things kept coming up that kept us from saving as quickly as I wanted. So we ended up skipping contributions for a year or so. Now, at the time, I thought it was a good idea even though I did not for the first half of our journey. I also did not realize the true cost associated with that year until I was doing the prep for this episode. I’ve done the math for our 401(k) loan and know how that impacted our finances in the long-term but I’ve never actually calculated the year of not contributing. I go into detail on that long-term cost of the 401k loan in episode 120 - Our Worst Financial Mistake That Cost Us $1million dollars 😲 Now the year of not contributing is not as drastic of an impact as that 401k loan but nonetheless, the cost is a lot higher than my original calculations. I honestly don’t think that people that give this advice have ever thought through the long-term cost. Yes in the short-term, it seems like a logical math based decision but it’s really not. I did not even know the true cost until I started working on this episode! Now if you are following the advice of - you have to pay off your debt and save 3-6 months of expenses BEFORE you start contributing toward retirement. For most of you that will be at least 2-3 years. But for a lot of you, it could be 5 years, which is too long to be out of the market. Generally speaking this advice is for 2-3 years, not 5+ years. So if you already stopped your contributions, do not stop them for that long and I’m going to explain why….. First let me explain why you should keep contributing if you already are and not shut them off to pay off debt faster. The true cost can be calculated using the Rule of 72 the Rule of 72 is used to estimate how long it will take to double an investment at a given interest rate. Divide 72 by the interest rate to see how long it will take to double your money on an investment. Now there is a whole formula to do this calculation….but you don’t need to know it. Just Google the rule of 72 calculator and there are several that will do the math for you. For our math today we will use 10% avg return which doubles every 7 years - 10% is the average rate of the stock market. Of course, some years are high, some low, but the average is what matters - plus it’s the reason you shouldn’t try to time the market but that’s a discussion for another day. For our first example, let’s say you are 35 years old - 30 years from retirement $100 per paycheck - 26 a year = 2600 Per year = 5 doubles if retire at 65 5200 10,400 20,800 41,600 $83,200 - losing at retirement each year per $100 a payday For us that’s $83,200 * 3 = $249,600 for the one year - guess what? My accruing interest was not even close to that amount. I really only saved around $2000 in interest by paying off my student loan a year faster. Now for that math, I was 31, not 35 so that’s half of a doubling….which means we really lost around $375,000!!!! Because of our age at the time I’m kind of wishing I didn’t just do that math…. This whole journey of taking money out of retirement has cost us almost a million and a half dollars when we retire…. Now for that 35yr old example if they stop contributing for….. 2 years to pay off debt - costs $166,400 3 years to pay off debt - costs $332,800 For just $100 a paycheck!!! So if you are thinking, you “don’t have the money” to contribute toward retirement….you are wrong. $100 a check is really only around $70ish dollars in take home pay. That’s the cost of one meal at a restaurant - even less if it’s my family LOL But I also know that most of you are older than me, so for easy math, let’s say you are….. 42 years old - 23 years from retirement $100 per paycheck $2600 per year $41,600 per year 2 years to pay off $83,299 3 years to $166,400 Now I’ve also done the math for an example of what you are saving in interest because the comparison is important….. If we take that $100 per month and apply to our debt instead….because keep in mind that 401k contributions are pre-tax. So if you stop the $200 a month contribution, you’ll bring home around $150ish Let’s be real, you probably won’t send that whole amount to your debt. So if you take $100 per month of that $200 and put it toward your debt, you will save $2000 in interest. For the $100 per paycheck example. Now, remember the cost of that year was $83,200 for a year in lost money at retirement. In case you need me to do that math for you, you’re losing $80,000 by stopping contributions for a year. Now in using the same debt payoff calculations, that extra $100 per month still only has you debt free in over 3 years. So, that’s 3 years of not contributing which is a cost of over $322,000 at 35yrs old or $166,400 at 45 years old. That means, mathematically, it does not make any kind of sense to stop contributions to pay off debt faster - EVEN WITH HIGH INTEREST RATES. Now there are times where you may want to consider stopping contributions to focus on debt when you’ve already been contributing. If you are not actively working a debt pay off plan and have not worked on changing your behavior then do NOT stop contributing. The long-term costs will be enormous and the chances of you following through with paying off the debt and starting contributing again is very low. Leave it alone if you are still working on impulse spending, sticking to your budget, and feel overwhelmed and aren’t making any progress on your debt pay off goals. If you are already contributing AND have room in your budget to live and pay off debt, then you don’t need to stop. Now If you aren’t already contributing and DON’T have any extra money to contribute, then focus on debt first. If you are within 5 years to retirement, pay off debt first if you have to make a choice. The goal is not retire with a bunch of debt. Because if you don’t have any savings, you won’t be able to pay your bills with social security. It will be more manageable without a bunch of debt. Plus you won’t have much time to save and you’ll want more conservative investments so your ROI will be lower as well. It makes sense to pay off debt first in this situation. If you are 10 years out or more from retirement, contribute to retirement and if you have some extra, pay off debt as well. To recap - do not stop contributions - it’s not worth the long-term costs unless you are within 5 years of retirement. I’d love to hear if you had any aha moments listening today - so please leave a review below and don’t forget to screenshot it for the BIG giveaway happening in April! Go submit your review at www.budgetsmadeeasy.com/giveaway Have
13 minutes | Mar 9, 2023
#129 Deserve is Not a Currency
Are you someone who justifies spending money on things you don't really need or can't afford with the statement, "I deserve it because I work hard"? In this podcast episode, Ashley discusses the idea of using "I deserve it" as a justification for spending money that you cannot afford. She explains how making emotional decisions and using this mindset can lead to financial struggles and debt. She also offers tips on how to change your mindset around spending and make more logical financial decisions based on what you can afford. Hosting Today: Hey, I’m Ashley Patrick, a personal finance expert and founder of Budgets Made Easy. I help busy moms create systems to save money and pay off debt so they can reach their big dreams faster and easier. I was able to pay off $45,000 in just 17 months including $25,000 in student loans in just 10 months. I’m a Master Financial Coach and have a bachelor's degree in psychology and will help you get to the root of your money problems. Since my journey started I have been featured on Fox Business, Yahoo! Finance, Food Network, USA TODAY, MSN, CNBC, NerdWallet, and many others. “So instead of justifying spending money because you deserve it, flip that mindset into, I deserve to stay focused on my goals because I work hard and I deserve to be able to not stress about money and do the things that I want to do in life. When you really believe that you are worthy and you deserve better, your life will start to change.” - Ashley Patrick Timestamps: 00:00 - What today's episode is about 00:59 - The Money Mindset Podcast giveaway 01:35 - The 'I deserve it' mindset 03:18 - Making decisions based on emotions 06:23 - Deserve is not a currency 07:44 - Switching your mindset 11:47 - The Implementation day workshop If you'd like to work through your own struggle with your budget 1:1 with me, sign up for a Budget Strategy Session on The Money Mindset Podcast! Sign up at www.budgetsmadeeasy.com/strategy 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: * Book your Budget Strategy Session here-> www.budgetsmadeeasy.com/strategy Connect with Ashley: * Instagram: www.instagram.com/budgetsmadeeasy
7 minutes | Mar 6, 2023
#128 What if I Didn't Stop
The Money Mindset Podcast is almost at 100,000 downloads! Woohoo! In this podcast episode, Ashley reflects on her journey to another milestone for the Money Mindset Podcast and shares her thoughts on the importance of taking action and not waiting for the perfect moment to begin working toward one's financial goals. Hosting Today: Hey, I’m Ashley Patrick, a personal finance expert and founder of Budgets Made Easy. I help busy moms create systems to save money and pay off debt so they can reach their big dreams faster and easier. I was able to pay off $45,000 in just 17 months including $25,000 in student loans in just 10 months. I’m a Master Financial Coach and have a bachelor's degree in psychology and will help you get to the root of your money problems. Since my journey started I have been featured on Fox Business, Yahoo! Finance, Food Network, USA TODAY, MSN, CNBC, NerdWallet, and many others. “All those things that you can look back now and see that maybe you could have done things a little bit differently. Who knows if you would've done things differently, you wouldn't be where you're at today. And the only thing you can do is change what you do today and then tomorrow make new choices and change what you do tomorrow. You can't change what you've done in the past, and yet the past holds us back so, so much. And I just wanted to jump on and encourage you today to just keep going. Don't wait for things to be perfect, because they never will be. They just won't.” - Ashley Patrick Timestamps: 00:00 - Another milestone for the Money Mindset Podcast 00:38 - The journey and the process of getting to our goals 01:49 - Just keep going 02:13 - Don't focus on the past 04:25 - Taking the first step 05:46 - The Money Mind Podcast giveaway If you'd like to work through your own struggle with your budget 1:1 with me, sign up for a Budget Strategy Session on The Money Mindset Podcast! Sign up at www.budgetsmadeeasy.com/strategy 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: * Book your Budget Strategy Session here-> www.budgetsmadeeasy.com/strategy Connect with Ashley: * Instagram: www.instagram.com/budgetsmadeeasy
19 minutes | Mar 2, 2023
#127 BSS - When to pay off 0% interest debt first
Have you ever found yourself with multiple debts and struggled to decide which one to pay off first? Should you focus on paying off high-interest debt, the smallest balance, or 0% interest debt? Paying off 0% interest debt first can be a dilemma for some people. While it may seem logical to pay off high-interest debt or the smallest balance first, there are situations where paying off 0% interest debt makes more sense. In this episode, Ashley will discuss when it may be beneficial to pay off 0% interest debt before high-interest debt or the smallest balance debt, and how to determine if this strategy is the right choice for your individual financial situation. Hosting Today: Hey, I’m Ashley Patrick, a personal finance expert and founder of Budgets Made Easy. I help busy moms create systems to save money and pay off debt so they can reach their big dreams faster and easier. I was able to pay off $45,000 in just 17 months including $25,000 in student loans in just 10 months. I’m a Master Financial Coach and have a bachelor's degree in psychology and will help you get to the root of your money problems. Since my journey started I have been featured on Fox Business, Yahoo! Finance, Food Network, USA TODAY, MSN, CNBC, NerdWallet, and many others. “General advice, you know, the debt snowball method, which is focusing on the smallest balance works for most people and a lot of different situations, but it's not a one size fits all. Right? And so sometimes we want to follow the rules so to speak and do things the right way, but that's not always the case because we have different situations. So it's okay to deviate from the plan to fit your situation better.” - Ashley Patrick Timestamps: 00:00 - Introduction to today's episode 01:46 - Meet Jen 05:46 - Feeling stuck and falling behind 07:21 - Paying off 0% interest debt first 10:36 - Building up an emergency fund 11:22 - Jen's 24 hour action steps 16:18 - Paying by paycheck 18:18 - Last words of wisdom If you'd like to work through your own struggle with your budget 1:1 with me, sign up for a Budget Strategy Session on The Money Mindset Podcast! Sign up at www.budgetsmadeeasy.com/strategy 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: * Money Success Club waitlist - www.budgetsmadeeasy.com/msc * Book your Budget Strategy Session here-> www.budgetsmadeeasy.com/strategy Connect with Ashley: * Instagram: www.instagram.com/budgetsmadeeasy
33 minutes | Feb 27, 2023
#126 BBMU - Should you use a debt relief company?
Debt relief companies are a popular choice for people who are struggling to manage their debts. They offer a variety of services to help people reduce or eliminate their debt burden. But is this really a good option for you? Before deciding to use a debt relief company, there are a few things to consider. Listen in as Ashley discusses some of these points and offers some guidance to help you make the right choice. Hosting Today: Hey, I’m Ashley Patrick, a personal finance expert and founder of Budgets Made Easy. I help busy moms create systems to save money and pay off debt so they can reach their big dreams faster and easier. I was able to pay off $45,000 in just 17 months including $25,000 in student loans in just 10 months. I’m a Master Financial Coach and have a bachelor's degree in psychology and will help you get to the root of your money problems. Since my journey started I have been featured on Fox Business, Yahoo! Finance, Food Network, USA TODAY, MSN, CNBC, NerdWallet, and many others. “So definitely before you commit to any kind of debt relief program, know your numbers so that you can make the best decision for you and you need to know your options and when you know your numbers and know what you can actually afford, things will get clear and you'll be able to make a more informed decision.” - Ashley Patrick Timestamps: 01:17 - The Budget Bestie Meetup 03:10 - Should you use a debt relief company? 06:03 - Debt relief scams 06:47 - How it affects your credit score 09:47 - Talk to a bankruptcy attorney 10:46 - Do your research 12:04 - Know what the tax implications are 13:04 - Have a money plan 15:59 - About credit score 23:40 - Wins for February 31:24 - How to sign up for a Budget Bestie Meetup Do you wish you had a supportive group of women like you to connect with about money? Come join me for a Budget Bestie Meetup on The Money Mindset Podcast, and let's learn and grow as a community! You can sign up at www.budgetsmadeeasy.com/meetup. 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: Book your Budget Bestie Meetup episode here -> www.budgetsmadeeasy.com/meetup Connect with Ashley: Instagram: www.instagram.com/budgetsmadeeasy
15 minutes | Feb 23, 2023
#125 Why You Should Have Fun Money When In Debt
Debt is something that we all experience in our lives at some point or another. It can feel like a weight on our shoulders and be quite frustrating. The good news is that there are ways to take the pressure off and make debt feel less like a burden and more like something that you can look forward to getting rid of someday! In this episode, Ashley will explain why having some "fun money" each month can give you the financial freedom to still do the things you enjoy without the stress of having to pay off your debts. Hosting Today: Hey, I’m Ashley Patrick, a personal finance expert and founder of Budgets Made Easy. I help busy moms create systems to save money and pay off debt so they can reach their big dreams faster and easier. I was able to pay off $45,000 in just 17 months including $25,000 in student loans in just 10 months. I’m a Master Financial Coach and have a bachelor's degree in psychology and will help you get to the root of your money problems. Since my journey started I have been featured on Fox Business, Yahoo! Finance, Food Network, USA TODAY, MSN, CNBC, NerdWallet, and many others. “If you have a lot of debt and it's gonna take you a couple years to pay it off and if you like having your hair nails done, that's not something that you're gonna put off for years, right? Like you're gonna still get your hair done, you're still gonna get your nails done. And so you just have to make a plan for that. As long as you have the money in your budget that you can send to that, I'm okay with it. Now if you're going into debt to pay for these things, that's a little different, right?” - Ashley Patrick Timestamps: 00:29 - Introduction to today's episode 02:16 - Setting money aside on wants 03:33 - Losing motivation to keep going 05:11 - Making small changes overtime and managing your money in a realistic way 06:30 - Creating a realistic plan 08:29 - Building habits and routines 09:03 - Make extra money 12:48 - Figure out what will work for you 13:45 - Coming up on the podcast If you'd like to work through your own struggle with your budget 1:1 with me, sign up for a Budget Strategy Session on The Money Mindset Podcast! Sign up at www.budgetsmadeeasy.com/strategy 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: * Book your Budget Strategy Session here-> www.budgetsmadeeasy.com/strategy Connect with Ashley: * Instagram: www.instagram.com/budgetsmadeeasy
19 minutes | Feb 20, 2023
#124 5 Things Your Parents Didn't Teach You About Money!
Do you think your parents just didn't have enough money that's why they couldn't teach you about it? Or do you think they didn't want to teach you the topic because it was too complicated or too scary? Well, chances are our parents weren't taught much about money, either! In fact, it's possible that they haven't even learned the most basic financial lessons themselves. So, in today's episode, Ashley will go over some of the money lessons that our parents did not teach us about - but should have, such as making a realistic plan, planning ahead for non-regular expenses, and creating a plan for each paycheck. Hosting Today: I'm Ashley Patrick, ex detective turned debt-free CEO of my very own business and stay at home mom of three. Not too long ago, my dreams of staying at home with my kids seemed impossible. I thought I'd have to stay miserable in a high stress demanding job, just so I could retire someday. After gaining the confidence in my own ability to manage my family's finances and a simple step-by-step plan to make it happen, I was able to pay off $45,000 in just 17 months, which then allowed me to finally quit my job, stay at home with my kids, and build a debt-free business. Now, my mission is to help moms like you conquer debt and free themselves from the mental load of handling their family's finances. “A lot of times what I see is people make a plan, but it's based on everything going perfectly. And guess what? You're not perfect. And especially in the beginning, your plan is definitely not gonna be perfect. You are not gonna wake up a different person tomorrow. You are not going to be able to easily change your habits and behaviors overnight. Of course you can over time as you build new habits and new routines, yes you can change and you can make big change relatively fast, but it's not gonna happen overnight. And so a lot of times I see these plans that are not realistic at all based on you and your family and the things that you're already doing. It's based on this perfect idea of what you want things to be. And those are not, those are not gonna be the same, especially if you are just starting out with creating a money plan at all and sticking to a money plan at all. It's just not going to happen.” - Ashley Patrick Timestamps: 00:00 - The topic for today's episode 01:55 - Not making a realistic plan 03:45 - Not creating a plan for each paycheck 05:28 - Now planning ahead for non-regular expenses 07:34 - Not learning how to deal with overspending and addiction to online shopping 12:11 - Not paying yourself first 17:26 - How to have your own Budget Budget Strategy Session episode If you would like to sit down with me and discuss what you are struggling with and some steps that you can take to make progress and get over that big struggle, I invite you to sign up for your own Budget Strategy Session episode at budgetsmadeeasy.com/strategy and have a mini coaching session with me. 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: * Book your Budget Strategy Session here-> www.budgetsmadeeasy.com/strategy Connect with Ashley: * Instagram: www.instagram.com/budgetsmadeeasy
8 minutes | Feb 7, 2023
#122 Do ONE thing at a time!
Do you feel like you aren't making any progress with your money plan even though you've been trying for a while? If you are feeling like your money plan isn't working the way that you hoped it would, it may be because you are doing too much at once. Listen in as Ashley discusses how to create a realistic money plan that will keep you from feeling stuck and getting overwhelmed. Hosting Today: I'm Ashley Patrick, ex detective turned debt-free CEO of my very own business and stay at home mom of three. Not too long ago, my dreams of staying at home with my kids seemed impossible. I thought I'd have to stay miserable in a high stress demanding job, just so I could retire someday. After gaining the confidence in my own ability to manage my family's finances and a simple step-by-step plan to make it happen, I was able to pay off $45,000 in just 17 months, which then allowed me to finally quit my job, stay at home with my kids, and build a debt-free business. Now, my mission is to help moms like you conquer debt and free themselves from the mental load of handling their family's finances. “So it's more important for the long-term success that you start small and just make it simple as possible so that you can follow through with it. If you make it complicated and a whole bunch of steps at once, you're not gonna make as fast a progress, if any progress because you're just too overwhelmed and trying to do too many new things at once. You wanna start with one small thing at a time.” - Ashley Patrick Timestamps: 00:26 - How to register for the Free workshop on 'How to pay off $500 in Debt in just 30 days' 00:58 - The topic of today's episode 01:47 - Do one thing at a time 02:34 - Plan for what was left after bills 03:51 - Creating a money plan 04:13 - Meal plan 05:37 - Cash envelopes 07:07 - Start small Tired of Living Paycheck To Paycheck? Want to Pay Off $500 Next Month? I've got just the thing for you! This FREE Workshop will teach you How to Pay Off $500 in Debt in just 30 Days without selling a kidney or robbing a bank! Go to www.budgetsmadeeasy.com/workshop and register 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: * How to Pay Off $500 in Debt in just 30 Days: www.budgetsmadeeasy.com/workshop Connect with Ashley: * Instagram: www.instagram.com/budgetsmadeeasy
29 minutes | Feb 2, 2023
#121 BSS - Deciding Which Debt to Pay First
Wondering where to put the rest of your money after you've paid all your bills? Should you use it to pay off more debt, or should you put it towards something else? Listen in today's episode, as Ashley discusses debt strategies with Christina, including what to do with her leftover money after paying all of her bills, how to allocate those funds, and what her options are for paying off her debt. Hosting Today: I'm Ashley Patrick, ex detective turned debt-free CEO of my very own business and stay at home mom of three. Not too long ago, my dreams of staying at home with my kids seemed impossible. I thought I'd have to stay miserable in a high stress demanding job, just so I could retire someday. After gaining the confidence in my own ability to manage my family's finances and a simple step-by-step plan to make it happen, I was able to pay off $45,000 in just 17 months, which then allowed me to finally quit my job, stay at home with my kids, and build a debt-free business. Now, my mission is to help moms like you conquer debt and free themselves from the mental load of handling their family's finances. “Well, it's overwhelming. And then you're like, I don't know what to do because I'm overwhelmed. And so when you just take it one step at a time, so just focus on the one debt you wanna pay off first, I find running the numbers motivating, especially if you have a good chunk each month that you could send to it and you see that number, you're like, oh, I can do that. It'll help get you going. It'll give you that momentum to get started.” - Ashley Patrick Timestamps: 00:00 - How to sign up for your Budget Strategy Session 00:38 - Introduction to today's episode 01:16 - Meet Christina 04:02 - Christina's financial struggle 06:23 - What to do with the money that is left over after paying bills 08:38 - Emergency and Sinking funds 09:44 - Having a buffer amount 11:13 - Deciding on your biggest financial goal 13:37 - Which debt to pay off first 17:01 - Focusing on one debt at a time 19:07 - Christina's 24 hour action step 19:34 - Impact, Debt Snowball, and Debt Avalanche method 23:07 - Planning your left over money where you want it to go If you'd like to work through your own struggle with your budget 1:1 with me, sign up for a FREE Budget Strategy Session on The Money Mindset Podcast! Sign up at www.budgetsmadeeasy.com/strategy 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: * Book your Budget Strategy Session here-> www.budgetsmadeeasy.com/strategy Connect with Ashley: * Instagram: www.instagram.com/budgetsmadeeasy
15 minutes | Jan 30, 2023
#120 Our Worst Financial Mistake That Cost Us $1million dollars 😲
I'm sure you've been given money advice at some point in your life that sounded good at the time, but turned out to be bad advice that cost you money! Today I'm sharing the worst advice we followed that led to our biggest money mistake.....one that will cost us almost $1 MILLION.....yes million....dollars in our lifetimes. But as with all mistakes and setbacks, there is a silver lining! Hosting Today: I'm Ashley Patrick, ex detective turned debt-free CEO of my very own business and stay at home mom of three. Not too long ago, my dreams of staying at home with my kids seemed impossible. I thought I'd have to stay miserable in a high stress demanding job, just so I could retire someday. After gaining the confidence in my own ability to manage my family's finances and a simple step-by-step plan to make it happen, I was able to pay off $45,000 in just 17 months, which then allowed me to finally quit my job, stay at home with my kids, and build a debt-free business. Now, my mission is to help moms like you conquer debt and free themselves from the mental load of handling their family's finances. “But you know, we all make mistakes and we learn from each other. So I would love to hear your biggest mistake and maybe you know, what you've learned from that mistake because that's where we really grow and that's where we make the biggest progress in our learning and our journey because we're like, hmm, never wanna do that again. Right? We learn more from our failures and our mess-ups than we do from our successes. And that's just how our brains work.” - Ashley Patrick Timestamps: 00:11 - The Money Success Club 00:57 - The topic of today's episode 02:52 - What made us take out a loan 05:33 - 401(k) loan 10:59 - The start of our debt free journey 12:40 - Tell us about your biggest financial mistake 14:22 - How to sign up for your own Budget Strategy Session episode Do you need time, space, and accountability to take action on the things you KNOW you should be doing, such as budgeting so you can actually pay off debt, save money, make a meal plan, and all the other things that keep falling off your to-do list? Would you thrive in a supportive community of other busy moms who understand what you're going through and are working to achieve similar financial goals? If that’s a YES, I invite you to sign up for the Money Success Club at www.budgetsmadeeasy.com/msc 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: * Money Success Club: www.budgetsmadeeasy.com/msc * Book your Budget Strategy Session here-> www.budgetsmadeeasy.com/strategy Connect with Ashley: * Instagram: www.instagram.com/budgetsmadeeasy
44 minutes | Jan 26, 2023
#119 Things to Know & Do When Caring for a Parent or Grandparent
Caring for an aging parent or grandparent can be challenging, particularly if you are unprepared. When you find yourself in this situation, there is a lot to know and do, especially when it comes to legal and financial matters. However, with a lot of planning and preparation, you can work through these difficulties while remaining sane. Listen in as Jen and Ashley offer tips and advice on how to deal with this stressful situation without sacrificing your mental health. Meet Jen! Jen Narciso is the founder of Investor Mama and host of the Investor Mama Podcast. She believes anyone can get out of debt and achieve financial independence by getting educated, changing his or her habits, and changing their money beliefs. Her goal is to help as many moms and families as she can with their money journey so they can set an example for the next generation. Jen has two beautiful young children and one beautiful angel baby. In her “spare” time, she loves to travel, is an adamant reader on anything money related, and most importantly, likes to create memorable moments with her family and friends. “The sooner you could have these conversations the better. And also on the same token, if you don't have this stuff in place, definitely do it for your family as well. Because as hard as it is for you to have these conversations, you don't wanna be a burden onto your kids. And the more things you can prepay in advance for yourself also the better.” - Jen Narciso Timestamps: 00:00 - Introduction to today's episode 01:47 - Meet Jen 08:08 - Conducting research and learning about the disease 10:02 - Get your own support group 11:30 - Estate Planning 12:39 - Healthcare directive 13:29 - Having a will in place 14:09 - Power of attorney 14:30 - Prepare your parents' medical records 15:23 - Know where their money is 16:54 - Consult a local attorney 18:00 - Consult an estate attorney to help you move assets 26:56 - Be kind to yourself and know your limits and boundaries 29:11 - Consider looking for facilities that can provide them with the assistance they need 33:33 - How Jen took care of herself 37:59 - Last words of wisdom Starting and sticking to a money plan doesn't need to be overwhelming! Join my Money Plan Bootcamp where I'll teach you the 5 key steps for creating a money plan you can actually stick to...for FREE!⁣⁣ Go to www.budgetsmadeeasy.com/bootcamp and register 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 Book Recommendation: * Slight Edge by Jeff Olson Resources and Links Mentioned: * The Money Plan Bootcamp: www.budgetsmadeeasy.com/bootcamp Connect with Ashley: * Instagram: www.instagram.com/budgetsmadeeasy Connect with Jen: * Instagram: https://www.instagram.com/investor_mama/ * Facebook: https://www.facebook.com/investormamapodcast * Website: https://www.investormama.com/connect * 19 Tips for Navigating Money in a Relationship: www.investormama.com Special Guest: Jen Narciso.
62 minutes | Jan 23, 2023
#118 BBMU - How to Start Changing Your Behavior
Welcome to the very first episode of our new series called the Budget Bestie Meetup! Yay! The Budget Bestie Meetup is a free community meetup that brings together a supportive group of women to talk about money so that we can learn and grow as a community. In this episode, we'll talk about how to start changing your behavior, how to put it into action, and how to incorporate habit stacking into your daily routine. In addition, we will also talk about the different methods to pay off your debt and share our wins for the month. Hosting Today: I'm Ashley Patrick, ex detective turned debt-free CEO of my very own business and stay at home mom of three. Not too long ago, my dreams of staying at home with my kids seemed impossible. I thought I'd have to stay miserable in a high stress demanding job, just so I could retire someday. After gaining the confidence in my own ability to manage my family's finances and a simple step-by-step plan to make it happen, I was able to pay off $45,000 in just 17 months, which then allowed me to finally quit my job, stay at home with my kids, and build a debt-free business. Now, my mission is to help moms like you conquer debt and free themselves from the mental load of handling their family's finances. “So you know, it's tracking your spending, like that is a behavior, it's a habit, it's a routine that we wanna build and create as we're trying to change our behavior. So it's not always the impulsive spending, it's not always the overspending, but it's the little things that we do on the day-to-day. Those habits and routines could also be said instead of behavior. But it is those little things of what we do with our finances. Not always the big things of overspending and you know, shopping way too much on Amazon. Of course that plays into it as well. But you know, mainly the habits and setting up the systems to really be successful in the long run.” - Ashley Patrick Timestamps: 01:18 - About the Budget Bestie Meetup 03:39 - Changing your behavior 07:31 - Implementing your habits and routines 18:14 - Renee's win 16:32 - How to include habit stacking to your daily routine 25:07 - Cindy's win 29:18 - Kristina's win 30:13 - About the snowball, impact, and debt avalanche method 36:58 - Word of the year 39:26 - Kathy's win 40:43 - Trinette's win 41:17 - Paying credit card balance using the snowball method 45:18 - Elizabeth's win 01:01:42 - How to sign up for the Budget Bestie Meetup episode Do you wish you had a supportive group of women like you to connect with about money? Come join me for a Budget Bestie Meetup on The Money Mindset Podcast, and let's learn and grow as a community! You can sign up at www.budgetsmadeeasy.com/meetup. 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 Book Recommendation: * Atomic Habits by James Clear Resources and Links Mentioned: * Book your Budget Bestie Meetup episode here-> www.budgetsmadeeasy.com/meetup Connect with Ashley: * Instagram: www.instagram.com/budgetsmadeeasy
28 minutes | Jan 19, 2023
#117 BSS - Getting back on track after taking time off from working
If you have recently taken a break from your job to focus on personal life or take care of family responsibilities, it can be easy to start falling behind on your finances as you haven't paid much attention to them over the past few months. Fortunately, there are a few things you can do to help you get through this and get your finances back on track. Listen in as Ashley shares some tips with Sy on how to get her finances back on track after taking a break from work, such as tracking her spending, using cash envelopes, and creating a priority list in her budget. Hosting Today: Hey, I’m Ashley Patrick, a personal finance expert and founder of Budgets Made Easy. I help busy moms create systems to save money and pay off debt so they can reach their big dreams faster and easier. I was able to pay off $45,000 in just 17 months including $25,000 in student loans in just 10 months. I’m a Master Financial Coach and have a bachelor's degree in psychology and will help you get to the root of your money problems. Since my journey started I have been featured on Fox Business, Yahoo! Finance, Food Network, USA TODAY, MSN, CNBC, NerdWallet, and many others. “So just figure out what works for you by trying different things and know it's gonna take practice and it's gonna take time. So don't be afraid to start cuz you feel like you're not sure what to do or which thing to do. Cuz we overthink everything. We overthink all of it and truly it doesn't matter as long as you're taking action and trying something that is progress and you will get there. But if you stay stuck and don't do anything, you won't. Right? You have to like just start doing and just start trying to figure it out.” - Ashley Patrick Timestamps: 01:17 - What today's episode is about 02:29 - How to join the Money Plan Bootcamp 03:36 - Meet Sy 11:27 - Sy's financial struggle 12:11 - Tracking your spending 15:08 - Using cash envelopes 19:02 - Sy's 24 hour goal 21:29 - Creating a priority list 23:47 - How to utilize multiple bank accounts 27:09 - How to sign up for your own Budget Strategy Session episode Starting and sticking to a money plan doesn't need to be overwhelming! Join my Money Plan Bootcamp where I'll teach you the 5 key steps for creating a money plan you can actually stick to...for FREE!⁣⁣ Go to www.budgetsmadeeasy.com/bootcamp and register 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: * The Money Plan Bootcamp: www.budgetsmadeeasy.com/bootcamp * Book your Budget Strategy Session here-> www.budgetsmadeeasy.com/strategy Connect with Ashley: * Instagram: www.instagram.com/budgetsmadeeasy
12 minutes | Jan 16, 2023
#116 The Key to Sticking to Your New Year Resolutions in 2023
Most people set resolutions for the New Year in an attempt to change their lives for the better - but few actually follow through with them. The problem is that making resolutions without a plan and sticking to it often leads to disappointment and failure. So how can you make sure you keep your resolutions this year? Listen to this episode and learn the key steps you should take in order to make a New Year’s resolution that you can stick to! Hosting Today: Hey, I’m Ashley Patrick, a personal finance expert and founder of Budgets Made Easy. I help busy moms create systems to save money and pay off debt so they can reach their big dreams faster and easier. I was able to pay off $45,000 in just 17 months including $25,000 in student loans in just 10 months. I’m a Master Financial Coach and have a bachelor's degree in psychology and will help you get to the root of your money problems. Since my journey started I have been featured on Fox Business, Yahoo! Finance, Food Network, USA TODAY, MSN, CNBC, NerdWallet, and many others. “You've just gotta keep going and know that, you know, failure is part of the journey, but so is success. You can't have one without the other. Believe it or not, they go together, right? And so you have to give yourself some grace and have patience with yourself and know that it is never going to be perfect. It's never gonna be perfect, so then the key is being patient with yourself, giving yourself some grace, keep going, don't give up.” - Ashley Patrick Timestamps: 00:00 - The topic of today's episode 01:08 - The key to sticking to your new year resolutions 01:55 - Giving yourself some grace 05:02 - Keep going and not mentally give up 05:51 - Creating SMART goals 10:37 - About the Money Plan Bootcamp Starting and sticking to a money plan doesn't need to be overwhelming! Join my Money Plan Bootcamp where I'll teach you the 5 key steps for creating a money plan you can actually stick to...for FREE!⁣⁣ Go to www.budgetsmadeeasy.com/bootcamp and register 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: * The Money Plan Bootcamp: www.budgetsmadeeasy.com/bootcamp Connect with Ashley: * Instagram: www.instagram.com/budgetsmadeeasy
19 minutes | Jan 12, 2023
#115 5 Budget Mistakes to Avoid in 2023
Are you ready for a productive and successful year? If you're like most people, your answer is likely a yes. But how can you make that happen? In this episode, Ashley discusses five budget mistakes to avoid in 2023 so that you can have a productive and successful year ahead such as not putting a deadline on tasks, expecting everything to go perfectly, not setting a baseline and mid-level goals, and more! Hosting Today: Hey, I’m Ashley Patrick, a personal finance expert and founder of Budgets Made Easy. I help busy moms create systems to save money and pay off debt so they can reach their big dreams faster and easier. I was able to pay off $45,000 in just 17 months including $25,000 in student loans in just 10 months. I’m a Master Financial Coach and have a bachelor's degree in psychology and will help you get to the root of your money problems. Since my journey started I have been featured on Fox Business, Yahoo! Finance, Food Network, USA TODAY, MSN, CNBC, NerdWallet, and many others. “So you're constantly feeling like you're failing because you can't be perfect and your money plan’s never gonna be perfect because that's life and we beat ourselves up and we get in this mental cycle of feeling like we failed because we're not perfect, but we're human. So we literally cannot be perfect. So you've gotta keep going. When bumps come along the way, along the road when there's bumps and life happens, you've gotta keep going. It's never gonna be perfect. But if you keep going, you will be successful. If you stop and quit and avoid, you're not gonna reach your big goals. So you have to keep going and not expect everything to go perfectly.” - Ashley Patrick Timestamps: 00:00 - What today's episode is about 00:25 - How to sign up for the Money Plan Bootcamp 03:04 - Not putting a deadline on tasks 04:37 - Expecting everything to go perfectly 06:14 - Not setting a baseline and mid-level goals 09:45 - Not being intentional 12:31 - Trying to do too much Starting and sticking to a money plan doesn't need to be overwhelming! Join my Money Plan Bootcamp where I'll teach you the 5 key steps for creating a money plan you can actually stick to...for FREE!⁣⁣ Go to www.budgetsmadeeasy.com/bootcamp and register 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: * The Money Plan Bootcamp: www.budgetsmadeeasy.com/bootcamp Connect with Ashley: * Instagram: www.instagram.com/budgetsmadeeasy
17 minutes | Jan 9, 2023
#114 How to Pay Off Debt & Save at the Same Time (Q&A pt4)
Hey everyone, it's question and answer time on the podcast! This is Part 4 of our Q&A series, and I'll be answering some of the questions that Money Plan Bootcamp members have sent in. Listen in as I answer the following questions: How to pay off debt and save while living paycheck to paycheck, How to get past guilt when the plan doesn't work out, and Can you start your monthly budget with the previous month's last paycheck? Hosting Today: Hey, I’m Ashley Patrick, a personal finance expert and founder of Budgets Made Easy. I help busy moms create systems to save money and pay off debt so they can reach their big dreams faster and easier. I was able to pay off $45,000 in just 17 months including $25,000 in student loans in just 10 months. I’m a Master Financial Coach and have a bachelor's degree in psychology and will help you get to the root of your money problems. Since my journey started I have been featured on Fox Business, Yahoo! Finance, Food Network, USA TODAY, MSN, CNBC, NerdWallet, and many others. “Remember, focus on one thing at a time. Budget comes first, saving, then paying off debt. I know you wanna just dive in head first into paying off debt and get it out of your life. I love it when you are that excited about it. But you've gotta really cover the foundational stuff first so that you don't go back into debt later.” - Ashley Patrick Timestamps: 00:00 - Introduction to today's episode 04:18 - How to pay off debt and save while living paycheck to paycheck 09:55 - How to get past the guilt when the plan doesn't go as planned 14:57 - Can you start your budget for the month with the previous month's last paycheck? 16:48 - How to join the Money Plan Bootcamp Starting and sticking to a money plan doesn't need to be overwhelming! Join my Money Plan Bootcamp where I'll teach you the 5 key steps for creating a money plan you can actually stick to...for FREE!⁣⁣ Go to www.budgetsmadeeasy.com/bootcamp and register 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: * The Money Plan Bootcamp: www.budgetsmadeeasy.com/bootcamp * Send your questions here -> www.speakpipe.com/budgetsmadeeasy Connect with Ashley: * Instagram: www.instagram.com/budgetsmadeeasy
23 minutes | Jan 5, 2023
#113 BSS - How to Stick to a Budget w/a Busy Life w/Kids
Does it seem like you are constantly ordering DoorDash and never sticking to your budget because your life is just too busy? When it comes to budgets, many people find themselves struggling with how to stick to a plan, especially the busy moms who work from home while raising their kids. Listen in as Ashley shares some budgeting strategies with Cameron, such as changing her morning routine, making a meal plan, and using a paper and spreadsheet to help her track her budget and stick to it. Hosting Today: Hey, I’m Ashley Patrick, a personal finance expert and founder of Budgets Made Easy. I help busy moms create systems to save money and pay off debt so they can reach their big dreams faster and easier. I was able to pay off $45,000 in just 17 months including $25,000 in student loans in just 10 months. I’m a Master Financial Coach and have a bachelor's degree in psychology and will help you get to the root of your money problems. Since my journey started I have been featured on Fox Business, Yahoo! Finance, Food Network, USA TODAY, MSN, CNBC, NerdWallet, and many others. “I would consider or think about how you can build 10, 15 minutes into your routine and where the kids are already at school, you don't have the distraction of them and just you can take a few minutes to check in on your budget that will help you stick to it. But keep in mind you're not gonna be perfect. So like none of us are perfect and it has to become a habit and a routine and you will find that when you like something comes up, the kids are sick and you're not, like you get out of that route schedule and that routine you feel lost and it just feels like chaos. But when you have your routine and you can follow through with it, I don't know, things just feel right in the world.” - Ashley Patrick Timestamps: 00:00 - Introduction to today's episode 01:43 - Meet Cameron 02:25 - Cameron's biggest financial struggle 04:36 - Using paper, spreadsheet, or an app to track your budget 07:10 - Creating habits and routines 13:32 - Morning budgeting routine 15:10 - Meal planning 17:48 - Budgeting for 2 different paychecks 22:32 - How to sign up for your own Budget Strategy Session episode If you'd like to work through your own struggle with your budget 1:1 with me, sign up for a FREE Budget Strategy Session on The Money Mindset Podcast! Sign up at www.budgetsmadeeasy.com/strategy 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 Book Recommendation: * Free to Focus by Michael Hyatt Resources and Links Mentioned: * Book your Budget Strategy Session here-> www.budgetsmadeeasy.com/strategy Connect with Ashley: * Instagram: www.instagram.com/budgetsmadeeasy
15 minutes | Jan 2, 2023
#112 Money Saving Challenges to do in 2023!
If you're looking for new and creative ways to save a few hundred dollars a month without doing anything crazy, drastic, or extremely frugal, why not try a Money Savings Challenge? Listen in as Ashley shares a couple of Money Savings Challenges that you can do on a monthly basis to make saving money a lot more fun. Hosting Today: Hey, I’m Ashley Patrick, a personal finance expert and founder of Budgets Made Easy. I help busy moms create systems to save money and pay off debt so they can reach their big dreams faster and easier. I was able to pay off $45,000 in just 17 months including $25,000 in student loans in just 10 months. I’m a Master Financial Coach and have a bachelor's degree in psychology and will help you get to the root of your money problems. Since my journey started I have been featured on Fox Business, Yahoo! Finance, Food Network, USA TODAY, MSN, CNBC, NerdWallet, and many others. “So we gotta set realistic expectations for yourself so that it is motivating. So you wanna do it again, right? But if you just set your expectations too high and you wanna not spend anything for an entire month and that's not realistic and you end up having to spend some money, then you feel like you failed and what was the point, right? So make it something that is doable for you.” - Ashley Patrick Timestamps: 00:00 - Introduction to today's episode 02:37 - No spend challenge 04:14 - Make it doable 06:41 - Pantry or Freezer challenge 10:07 - The $5 challenge 12:36 - No eating out challenge 14:43 - The Money Plan Bootcamp If you're ready to get out of debt, start saving money, and have your best year yet, check out the Kickstart 2023 Bundle. It will help you create a simple plan that you can actually follow so you can pay off debt and save money in 2023! Go to www.budgetsmadeeasy.com/kickstart to grab your bundle 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: * Get the Kickstart 2023 Bundle here: www.budgetsmadeeasy.com/kickstart Connect with Ashley: * Instagram: www.instagram.com/budgetsmadeeasy
53 minutes | Dec 29, 2022
#111 Resources for Going to College as an Adult
Thinking of going back to school? Whether you're going back to school to pursue a bachelor's degree or looking to expand your career opportunities by furthering your education, it's never too late to study again. Listen in as Katelyn, a career coach, guides others through the process so you understand your options and can make an informed decision. She also has some helpful tips and tricks for doing it for little to no cost to you! Meet Katelyn Katelyn is a non-traditional college student and college instructor that stopped and started her education at over ten schools over the last fifteen years. She amassed $60,000 in debt pursuing her undergrad, then found a better way, completed two master’s degrees where she profited $1800 through education benefits and scholarships, and now pursuing a doctorate which will cost her $0. All of this was completed on an accelerated timeline, while working a full-time job and 2 part time jobs, paying off over $100,000 in debt, and raising her three kids. In her full-time job, Katelyn acts as a pseudo-career coach helping people in her organization to get qualified for their next role, finding low cost or no cost education programs, prepping resumes, and she teaches the job application process at a local university as a part of a career service orientation. Her mission and passion are helping people get qualified for their dream job without taking on mountains of debt. “When you're looking to go back to school, whether you're traditional or non-traditional, you have to be an informed consumer and you have to be your own advocate. No one else is looking out for you, no one else has your specific goals and desires or passions. So make sure that you're researching, that you're finding things that are right for you. And also making sure that there's alignment between your career aspirations and the programs that you're going for.” - Katelyn Shannon Timestamps: 00:55 - Introduction to today's episode 03:01 - Meet Katelyn 14:18 - Be an informed consumer 15:42 - Do your research to find the right program that fits your career goals 19:17 - Check your employee benefits 20:20 - Scholarship and grant applications 23:23 - Credit Transfer 26:59 - Regional and national accreditation 33:43 - Regarding Katelyn's work in human resources 38:46 - How to stand out when applying for a Job 43:06 - Who should I speak with about employee benefits 44:54 - Takeaways from this episode 50:44 - Last words of wisdom 52:24 - The Kickstart 2023 Bundle If you're ready to get out of debt, start saving money, and have your best year yet, check out the Kickstart 2023 Bundle. It will help you create a simple plan that you can actually follow so you can pay off debt and save money in 2023! Go to www.budgetsmadeeasy.com/kickstart to grab your bundle 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. Book Recommendation: * Stop Organizing, Start Producing: Leverage the 12 Factors that Make or Break the Busy Professional | 2011 Casey Moore Resources and Links Mentioned: * Kickstart 2023 Bundle: www.budgetsmadeeasy.com/kickstart * 3 FREE consultation spots available for the listeners of the Money Mindset Podcast: Email k.liddington@yahoo.com * sophia.org * study.com Connect with Ashley: * Instagram: www.instagram.com/budgetsmadeeasy Connect with Katelyn: * Linkedin: https://www.linkedin.com/in/katelynshannon-learningprofessional/ Special Guest: Katelyn Shannon.
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