Money Mindset with The Happy Hour Crew
This is the last season of Martinis and Your Money, and we have three incredible people who will be joining us for Happy Hour every month. The Happy Hour crew will be Melanie, who has been here since the first Happy Hour nine years ago, the COO of Financial Gym, Alicia, and two-time guest and avid podcast listener, Colin.
We're excited about the energy they bring to various financial topics, and it's great hearing what advice, guidance, or lessons they've learned about personal finance and beyond. This will be a great final season with three amazing people to get to know and love. Today, we're talking about our relationship with money and how we've all worked to build a healthy foundation to get financially fit.
What are we drinking?
Melanie - Sparkling water with non-alcoholic bitters
Alicia - Frozen Mango Martini
Colin - Orange Soda with Vodka
Shannon - Bota Box Nighthawk
Podcast Notes
Before becoming financially healthy, how did you feel about money?
Colin's relationship with money was hostile and unhealthy before his interest in personal finance. While working as a content editor for a personal finance company, he realized there was a lot he didn't know.
Melanie's relationship with money was tinged with curiosity and stress her entire life. Even at a young age, she was frugal and wanted to be fiercely independent.
Alicia had to learn about money because it was a survival skill for her. She knew the family had money issues, so she learned how to run things early on. When she started learning more about money, corporate and business finance interested her.
Shannon describes her relationship with money as delusional. She started working at age 14 and felt there would always be money. Shannon didn't think she had problems because she didn't have debt and was paying her bills on time; meanwhile, she was not saving.
Everyone can be doing better than just paying the bills. Understanding the root of the problem is essential. Do you have an income problem? A spending problem? Or was it a series of unlucky circumstances that added up? All of these have different solutions, but understanding is the first step.
Changing the internal, ‘I’m bad with money’ narrative
Many people feel fear and shame around their financial situation, and the best way to start to address it is by talking about it and understanding you don't have to go through it alone.
Share your experiences! It will help others. All of us have had challenges and struggles. Change is a good thing when it comes to your finances.
Things can only change when you decide your reality is no longer tolerable. This happened to Melanie when she realized the weight of her student loan debt.
She had always been a frugal person and, after reflecting, realized she had to earn more money. This led her to work some not-so-glamorous jobs, but ultimately helped her pay off the debt.
Colin knows folks his age who are frugal and financially focused but also knows others who are in credit card debt. Some of those people in debt feel like they'll always be there and don't know how to change.
One of his goals in learning more about personal finance is to be able to have conversations and share what he's learned with others. He believes in the power of small steps and not trying to learn everything in one day.
Engaging with your money is essential. The earlier, the better, but it's never too late to learn. Don't depend on someone else to take care of everything for you.
Resources for Mindset Work and Getting Things Done
Human Design is a tool Shannon has been really into the last few years and has talked about on the podcast. It's one of her favorite tools to help people learn more about themselves.
Alicia loves checklists and being involved with all the details.
Colin suggests being in touch with your numbers. Get out of the mindset that you're not worthy of having money. It's important to control your money and not let it control you.
Melanie has learned a lot from Gretchen Ruben's The Four Tendencies.
Focusmate is a website where you can connect with others to co-work, which is an excellent tool for helping get stuff done!
Takeaway: My biggest takeaway is that other than a relationship with yourself, the other important relationship you need to work on is your relationship with money. Most people have a negative or fearful relationship, but we can always change that so why not now?
Connect with the Happy Hour Crew
Melanie Lockert: https://melanielockert.com/
Alicia Lazarto- Chief Operations Officer at The Financial Gym
Colin Becker - @iwillbecolinyou & colinbecker.com
Shannon McLay - The Host and CEO at The Financial Gym
If you have any topics you would like me to cover on this podcast, or if you’d like to get in the financially naked hot seat, I encourage you to email me at Shannon@fingyms.com, or join the private Martinis and Your Money Facebook Page, and let me know what you want to hear.
In addition to hosting this show, I’m the founder and CEO of The Financial Gym. We are celebrating 10 years of this journey, and now, more than ever, I see the importance of the work we do every day. Rising inflation, the return of student loan debt, high interest rates on mortgages, and volatile stock markets make it a time when you need a best financial friend to help you make the best choices.
At Financial Gym, you get paired with a Certified Financial Trainer, who we call your BFF. Our team has coached clients through every financial season, whether they were living paycheck to paycheck or headed into Financial Independence and retirement.
To celebrate the final season of Martinis and Your Money, listeners can get 20% off of one-on-one training services. So what are you waiting for? Head over to financialgym.com to get started today. Our warm-up calls are free of cost and judgment.