JW’s Financial Coaching Podcast JW’s Financial Coaching Podcast-A show devoted to answering your personal financial questions and covering current events in personal finance. Giving people a new perspective on their money!

September 28, 2016  
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  • Guest Tracey Minutolo joins us to talk about Side Hustling
  • What side hustling is and isn't
  • How it has impacted Tracey's finances
  • Why should someone side hustle
  • Quote of the lesson from Jon Acuff

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Whenever I communicate with listeners of the show and ask what topics they would like me to cover on the show, one of the more popular requests is how to make more money through a side business or second job.

Starting something on the side is a great way to earn some money on the side. To improve you financial situation you can either do one of two things 1.) Cut back or 2.) Earn more income.

Traceycropped.jpegOn lesson 4 of the show we discussed whether it was more important to spend less or make more when trying to get out of debt. The obvious answer of course is to do both!

Well to help out with learning how to side hustle I had the chance to interview Tracey Minutolo over at TraceyMinutolo.com. Tracey is a Side Hustle Coach & Financial Freedom Fighter.

Tracey shares what the term “Side Hustle” means to her. She also talks about how she got involved in side hustling and how she was able to start her virtual assistant side business.

We also talk a little bit about Tracey’s debt free journey. She started out with about $60,000 in debt a little over two years ago. But she’s paid off her car loan and is going at her student loans with aggression. Her goal is to have it paid off by the end of 2017.

But most importantly the thing the stuck out to me was Tracey’s story of how becoming disciplined changed her life completely. It was no coincidence that Tracey’s side hustle and debt free journey took off around the same time.

You see about two years ago Tracey started to listen to podcast’s which taught her new information and gave her hope to make changes in her life. She took that hope and became focused and the disciplined she gained in those life changes not only impacted her career and finances, but other areas of her life as well!

Tracey’s story is very inspiring even if you aren’t looking to start a side hustle or get out of debt. She just got tired of carrying her student loans and decided to do something about it! My hope is that her story will inspire you to make changes in your life and think of something you can do on the side to increase your income.

Resources mentioned in the show

Today's quote of the lesson is brought to you by Audible.com

“Discipline begets discipline.” ~Jon Acuff

Enjoyed this lesson? If so, please consider taking a few minutes to leave a review of the show either in Stitcher SmartRadio, or iTunes. For a step by step video of how that works, please watch this video on how to leave a review in iTunes.

You can subscribe to future podcasts through Stitcher SmartRadio or iTunes, or by downloading the iPhone app. Or you may listen to the podcast on the JW's Financial Coaching Facebook Fan page.

September 18, 2016  
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  • Why it is more important to focus on what you need to stop doing then to focus on what you need to start doing
  • What do you need to stop doing?
  • The difficulty in starting to do something new before you stop doing the old thing
  • Bad habits are tough to stop
  • Quote of the lesson from Peter Drucker

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A few weeks back I was reading “Eventual Millionaire” by Jamie Tardy and read upon a quote that made me pause and ponder for a few moments. The quote was from author and management consultant Peter Drucker.

“Don’t tell me what you’re doing. Tell me what you stopped doing.”

The quote blew me away and make me think about changing how I work with people when creating new financial habits.

Normally I focus primarily in four main areas

  1. Spending your money before the month starts with a budget
  2. Becoming Debt Free
  3. Saving Money
  4. Spend money on thing that you value the most

Doing those four things allows us to stop overspending, committing future income before we earn it, and stop living with no financial margins in our life.

However maybe instead of focusing on new stuff to do, we should focus more on removing negative financial habits like overspending, having no control of our money each month, living with debt, and a continual increase in lifestyle without an increase in saving and investing.

Because it is hard to develop good habits when we still have negative ones. It is hard to save money when you are still in debt and don’t know where you spend your money each month.

I think a lot of times this is why we struggle with changing our financial behavior, because we focus so much on what we should be doing instead of focusing on what we need to stop doing.

The goal of today’s lesson is to help you reflect on what are some things you need to stop doing to improve your finances

Other resources mention in today's show

Today's quote of the lesson is brought to you by Podbean.com

“Don’t tell me what you’re doing. Tell me what you stopped doing. ” ~Peter Drucker

Enjoyed this lesson? If so, please consider taking a few minutes to leave a review of the show either in Stitcher SmartRadio, or iTunes. For a step by step video of how that works, please watch this video on how to leave a review in iTunes.

You can subscribe to future podcasts through Stitcher SmartRadio or iTunes, or by downloading the iPhone app. Or you may listen to the podcast on the JW's Financial Coaching Facebook Fan page.

September 11, 2016  
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  • What knowing our finances means
  • Why most of us don't know or understand our financial situation
  • What understanding our finances does for us
  • How to start knowing and understanding our finances
  • Quote of the lesson from Charles Kettering

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How well do you know your finances?

Even better, do you understand your finances?

Most of us don’t know our finances, and even less of us understand our finances.

What’s the difference you might ask, well it turns out there is a big difference and on today’s show we’ll discuss what both are and why they important to winning with money.

Knowing our finances means we are aware or are informed about our money. This means we know things such as

Understanding our finances means we are comprehending our decisions on money and are aware of how these decisions impacts us. Things we can do to understand our finances better include:

Understanding our finances allows us to look at the big picture when making financial decisions instead of having the mindset of week to week or paycheck to paycheck. This lets us make wise financial decisions, frees us to become more creative and take “risks”, lets us determine what we need to do to life the lifestyle we choose to, and ultimately allows allow us to make our financial dreams a reality.

In short it allows us to take on short term pleasure for long term treasure.

Today's quote of the lesson is brought to you by Audible.com

“Knowing is not understanding. There is a great difference between knowing and understanding: you can know a lot about something and not really understand it. ” ~Charles Kettering

Enjoyed this lesson? If so, please consider taking a few minutes to leave a review of the show either in Stitcher SmartRadio, or iTunes. For a step by step video of how that works, please watch this video on how to leave a review in iTunes.

You can subscribe to future podcasts through Stitcher SmartRadio or iTunes, or by downloading the iPhone app. Or you may listen to the podcast on the JW's Financial Coaching Facebook Fan page.

September 4, 2016  
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  • What is the EMV Chip Debit Card?
  • Difference between running your debit card as "Credit" vs "Debit"
  • Why the EMV Chip Card will reduce fraud
  • My Experience in using my EMV Chip Card
  • Quote of the lesson from T. Harv Eker

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The other day I went to get my mail and saw that I had gotten a new debit card in the mail. After opening it up I noticed something different from my previous card. On the side of the card was a chip that I had never seen before. After doing some research I found out that the chip is the EMV chip and is now standard on most debit and credit cards.

Today we’re going to talk about the EMV chip debit card and lists its features. It is mostly the same but there is a slight difference between your old debit cards and the new EMV chips. It’s also confusing because retailers are in a state of flux of getting new machines that use the EMV technology so it’s hard to determine whether you need to swipe your card or insert it (or “dip it”) into the reader.

I share my experiences with it so far so when you get your card in the mail you’ll know exactly what to do when you get your card. As the EMV chip cards are more secure they will become more and more commonplace in the market, which to me is a good thing.

Today's quote of the lesson is brought to you by Audible.com

“If you don't have the money management skills yet, using a debit card will ensure you don't overspend and rack up debt on a credit card.” ~ T. Harv Eker

Enjoyed this lesson? If so, please consider taking a few minutes to leave a review of the show either in Stitcher SmartRadio, or iTunes. For a step by step video of how that works, please watch this video on how to leave a review in iTunes.

You can subscribe to future podcasts through Stitcher SmartRadio or iTunes, or by downloading the iPhone app. Or you may listen to the podcast on the JW's Financial Coaching Facebook Fan page.