In college, I started a small Etsy shop and blog from the storage closet in my sorority house. A few years later, and through a very non-linear journey, that small Etsy shop grew into an internationally recognized sweatshirt brand & that little blog led to bestselling books and a publishing career. Now, I'm obsessed about helping other women uncover what they're made to do and take steps to make it happen, too.
Have you ever looked at your bank account and felt stressed? Or maybe you’ve thought about all the things you should be saving for, or all the debt you need to pay off, and you’re immediately overwhelmed by how to pursue financial health.
Maybe there’s a part of you that knows you should be more intentional with your finances and, well, let’s be real, you think “that doesn’t sound fun AT ALL.”
Well, ladies, today’s your day, because millennial money coach Chloe Elise joined me on the podcast to answer all your money questions and show you that money CAN be fun.
I know, it doesn’t sound possible. But, stay with me here.
In this episode we’re gonna shift your perspective on how you view money and give you lots of practical steps you can start doing today.
And yes, you might just have some fun in the process! 🎉
Money’s such an important topic to talk about because it’s the foundation for everything else. If you wanna start a business, build a home, or cultivate a life of purpose, it’s important to focus on financial health today, so you can set yourself up for success and purpose in the long-term.
That’s exactly why I invited Chloe on the podcast.
Millennial money coach and founder of Deeper Than Money, Chlose Elise is on a mission to show you that finances can be easy and fun, and that you (yes, you) are capable of building wealth.
After paying off over $36,000 of debt in less than 18 months and seeing how it transformed her own life, Chloe now helps her clients get ahead with money, pay off debt and save for those big future investments. (P.S. If you want more advice on paying off debt, check out my talk with Jessi Fearon).
I loved this conversation with Chloe because I truly believe this is gonna bless you today, in every area of your life, and will help you build a foundation for the future.
When it comes to financial health, we often need to start with how we view money. A lot of us have negative mindsets around money and even around our own ability to handle and steward money.
Chloe shared that what we believe about money is usually set in stone by the time we’re 8 years-old.
But, don’t worry, there’s good news!
As Chloe said, “We always have the capacity to update and expand those beliefs about money.”
So, how do we do that? We talked through 3 steps:
Once you’ve addressed how you’re viewing money, you can start taking action towards financial health.
One of the questions I asked Chloe was, “What are some of the top personal finance mistakes we make in the short-term that hurt us in the long-term and what can we do differently?”
Her answer really hit home with me. There are two money mistakes that Chloe often sees people make:
Okay, so you’ve got a healthy mindset around money, you’re building your credit score, and you’re advocating for yourself financially. But there’s still that issue of overspending.
And the whole idea of budgeting seems so restrictive to you. You don’t want to have to sacrifice the things you love, so what’s a girl to do? 🤷
Well, here are three things you can start doing today to kick overspending to the curb:
Okay, be honest. How many times have you ever gone to a friend or family member for financial advice? 🙋♀️ Most of us have.
While they can be a good resource, they may not be the best resource. It’s important to understand what their money priorities are and what their financial health looks like before seeking their advice.
Chloe dropped some truth when she said: “Stop taking financial advice from broke people. Always ask yourself if you would confidently switch your bank account with theirs. If the answer isn’t an absolute yes, then don’t seek advice from them.”
So, where SHOULD you seek advice? From a financial expert.
But, not all financial advisors are equal and not all will care about what’s in your best interest. So, it’s important to find one that you trust who will work WITH you, not just for you,
Don’t go to someone who’s gonna say, “I’ll take care of everything. Don’t worry about it.” Go to someone who will say, “Here are the options and here are my thoughts, but it’s your money, so it’s up to you and what will serve you best.”
Before you decide on who to work with, interview each potential financial advisor like you would interview someone you’re hiring. Get references and ask lots of questions, like what returns they’ve gotten for other clients.
This ensures you’re working with someone you trust, who has your best interests in mind (not theirs).
When it comes to marriage, money can often be a stressful topic. In fact, too often, it can cause fighting and long-term stress on the marriage.
So, how do you avoid that and get on the same page as your partner? That’s exactly what I asked Chloe.
And guys, her response should be on a T-shirt somewhere! 👏👏
She said, “Stop nagging your partner and start dreaming together.”
How true is that?
Sometimes you need to ask “why” you want money and why you’re trying to be better with your finances.
Maybe your “why” is so you can give generously, take your family on trips that will create special memories, or have the money to eat healthier. Maybe it’s so you can retire earlier and spend time with the people who matter most to you.
And it’s important to talk through those things with your spouse and dream together. Because when you can picture what you’re working towards, it gives you motivation to do what you need to do and it makes it meaningful.
Matt and I have regular “dream together” dates. Yes, it’s a thing. If you’ve never done this with your spouse, you should definitely try it!
We’ll sit down together and talk through what our goals are and what we’re working towards. We talk about how much we want to travel and spend time with family, how we want to give generously and the things we want to be able to do together.
A lot of the time, we’ll make it fun. And when we do that and can agree on what our goals are, it makes it so much easier and less stressful to make financial decisions.
The last thing I asked Chloe was, “What would be your advice to those who are starting a business and using personal funds to finance it?”
And she gave some really good pointers. So take out your notebook, friend!
At the end of the day, it’s about learning to be a good steward of your finances. If you can’t manage $100, you won’t be able to manage $1,000.
As Chloe said: “You can’t out-earn your mismanagement of money.”
So, if you’ve ever wanted to build wealth, pay off debt, or improve your finances, but you feel a little overwhelmed with it all, this episode’s for you.
Tune into to hear all about:
Get your comfy pants on and start taking notes, because this episode’s gonna teach you all the things. 🙌
And let me know below: what is your biggest challenge with money?
P.S. If you wanna find out more about Chloe and the resources she has to offer, head on over to her website.