Financial Conversation Podcast

As we wrap up the third season of the podcast, we're also saying goodbye. Taking the lessons we've learned from the podcast, we reflect on why we're no longer continuing the show and give you a hint at what we'll be up to elsewhere. Thanks so much for the support, we really appreciate it!   --   This may come as a bit of a shock to you, but this is the final episode of the Financial Conversation podcast. The show will live on via this website and iTunes so you can still listen to all of our past episodes and learn as much about money as possible. The three of us will also be around the web sharing tips, tricks, and advice about personal finances and life on our own platforms. In this week's farewell episode, we're taking about the history of the podcast, including some of our favorite moments and episodes, as well as why we've made the difficult decision to end the show.

Have you ever thought about why you want to improve your finances and save money? This seems like an obvious question but trust us, sometimes it's so common to get caught up in the motions and the habit of doing something that you forget why you're even doing it in the first place. When it comes to your finances, you always want to keep your why in mind so you won't make unnecessary decisions or sacrifices that don't end up helping you reach your goals. Since this season is all about saving money, we want you to look at your reasons for wanting to save in the first place. For many of us, our core reasoning is to reach financial independence/freedom one day. This may be a hidden goal of yours that you haven't even considered but let us tell you why it's so important. Defining Financial Freedom It's pretty safe to say that most people probably don't want to work forever. As you age, you'll most likely realize that you may not be able to work forever even if you wanted to because your energy levels are likely to

Are you looking for a way to save more money and still be able to spend on the things you enjoy? If so, you need to practice value based spending. In this week's episode, we'll be talking about what value based spending is, how it works, and why it lets you enjoy your money while still pursuing financial goals. What is Value Based Spending? If you've never heard of value based spending before, it's basically a way of allocating your money based on what you truly value and enjoy. Instead of a traditional budget where you might be tracking every penny you earn and spend, with value based spending you simply make conscious decisions about what to spend money on. This can be a lot more freeing than living with a bare bones budget, which is what a lot of people start with when they first begin budgeting. But after a while, a bare bones budget with no room for spending on fun can lead to feelings of deprivation and burn out. On the other hand, value based spending can also help you avoid spending money just to spen

We all shop from time to time whether it's an activity you like or not. When out shopping, I'm sure many of us can relate to an awesome deal we spotted on a particular item. If deals and sales make you happy, you're not alone. There's nothing wrong with wanting to stretch your dollar and save money on regular purchases. However, what stings is when you purchase an item that you think you got at a deal price only to find out you didn't really save any money on the purchase after all. If this has ever happened to you before, you probably fell for a sales trap from the retailer. What's a Sales Trap? A sales trap is when a retailer promotes a sale in an attempt to reel you in to make a purchase. Only, the 'sale' is not really a sale because you won't truly save money on the item if you buy it. It's a tricky concept to grasp at first, but it's very common and the more you know, the better you can protect your finances. Since we're talking about saving money this season, this week, we decided to record an episode h

You may not realize it, but there are right and wrong ways to save money. For example, when you go shopping and get things on sale, the cashier may tell you, "You saved $50 today!" But in reality, you haven't actually saved $50. What you've actually done is spent money on whatever it was you were buying. Of course sales and discounts can be a good way to save money on things you truly need and were already planning to buy. But, the truth is, many of us get caught up in these sales tricks and end up spending money on things we may not need or have purchased at all if they weren't on sale. When we do this, we aren't saving money the right way. We are actually throwing money away on useless clutter. Make a List One of the easiest ways I've found to make sure I'm not falling for marketing ploys and ending up spending more to "save" more is to make a list of the things I actually need before setting foot in a store. Once I'm there, I try my best to only go down aisles that contain the things I need, and to only go

Can money buy you freedom? We think so. We're sure you've heard that money can't buy you happiness but freedom is much different from happiness. Happiness can be a temporary emotion and it's never really wise to base your emotions on money and what money can buy you. On the other hand, what you do with your money can help provide you with freedom. When you manage your money properly and save up for your goals and the future, you'll be setting yourself up for a better quality of life. This week on the podcast, we're discussing how saving money can be used as a tool to help you gain freedom. The First Step, Defining Freedom If you want to use money to gain more freedom, first you need to define what freedom means to you. Freedom means something a little different for all of us. Generally, however, freedom means you have options and can make your own choices without letting factors like money hold you back. If you want to quit your job to pursue something you're more passionate about, having money saved up can p

For most people, saving money isn't something they consider fun. In fact, some people consider saving money to be a sacrifice that takes away their ability to spend money on things they enjoy. That's why people tend to put off saving money instead of paying themselves first. But, the truth is, spending all of your money is not going to help you reach your financial goals. If you struggle with saving money, try some of the easy savings tricks we discuss in this episode. Make a List of Your Priorities If you're working on multiple financial goals, like paying off debt and saving money, or investing and saving money, it may be difficult to decide how to divvy up your money. When faced with this situation, many people opt to put off saving any money at all because they can't decide the best way to prioritize their goals. To beat this common problem, make a list of your priorities. Sit down and decide what is the most important think for you to accomplish first. Or, look at it as a trade-off. This trick can work e

Do you have a budget? Does the word 'budget' make you feel uneasy somehow? Last week we talked about tracking your spending and how important that is. The next step is using the numbers you track to develop a realistic budget. This week, we're talking all about budgeting and how it can help you save and reach your financial goals. If you've never created a real budget before, have had issues sticking to your budget in the past, or are simply questioning whether or not you need a budget in the first place, this episode is a must-listen because there is no one set answer to any of these situations. Determining the Purpose of Your Budget Some may argue that budgeting is not for everyone, but we beg to differ. The word 'budget' often has a negative connotation attached to it but a budget is simply just a spending plan to tell you how to spend your money so you can reach your financial goals. Have debt? Need to save more for retirement? Want to take a vacation or start paying more of your bills on time? Using a bu

If you're just getting started on your financial journey, you may think that creating a budget is the first step you should. However, the three of us truly believe that tracking your spending is actually the first step. The truth is, you can't create a realistic budget that you can stick to if you don't know your numbers. In fact, all of us started with tracking our spending before we ever attempted to create our first budget. This week on the podcast we're talking about how and why to start tracking your spending. Read on for more about why it's important to track your spending and the show notes from this week's episode. Why You Should be Tracking Your Spending As mentioned, tracking your spending should be the first step you take to get your finances in order. It should be done before you ever even start with budgeting. Why? Because most of us don't actually know where our money is going! So, how can you expect to create a budget and spending goals for different categories if you don't know what you've bee

Last season was all about self-care and being the best you can be. We had so much fun recording our self-care season and hope you've gained a lot of clarity on your personal and financial goals and values from listening to the episodes. The next step is being intentional with your money and using it as a tool to improve your life. The Importance of Saving Money Saving is one of the most important aspects of managing your finances and one of the best ways to get ahead and start building wealth. Saving is important because it's crucial that you set some money aside for yourself. Paying for bills, debt, and other expenses can become draining if you don't have any money left over for your own wants and needs. We understand that saving money can be difficult for some people as it was for some of us in the beginning stages of our financial journey. Shocking studies reveal that the average American lives paycheck to paycheck and can't even afford a $500 emergency. Failing to save can easily put you into debt again a

The importance of effective communication is undeniable. But, how do you know if you are actually an effective communicator? In this week's episode of the podcast, we discuss the importance of communication, how to be a good communicator, and how to solve communication problems with the people in your life. Being able to communicate effectively can help avoid miscommunications and help you get the things you truly want in life. Here are 5 keys to communicating effectively. Don't Talk, Listen You may be surprised to learn that the first key to communicating effectively is to practice good listening skills. Unfortunately, many of us don't practice  good listening skills most of the time. Rather than listening and comprehending what people are saying to us so we can then process and respond appropriately, we are simply waiting for our turn to talk. When you do this, there may be repeats in the conversation, plus your conversations will never be deep or meaningful. Next time you are communicating with someone ver

Do you ever feel like a yes man or woman? Do you feel compelled to agree with every request, task, or option you receive even when you're really not on board? Many people find themselves doing this because they either just want to be polite or easy to work with. If you're a people-pleaser, you probably say yes often as well as a result. This week on the podcast, we're discussing what happens when you don't ask for what you truly want and how it can hold you back. Why We Don't Ask For What We Want The truth is, many of us have trouble asking for what we want whether it's at work or in our personal life. We do this for a number of reasons but here are three of the main motivating factors. You Want to Seem Compliant If you strive for order and structure, it's natural that you'll want to seem compliant and want everything to run smoothly. Society teaches us at a young age that putting ourselves first is wrong and our wants and needs are not as important as the next one. We're always taught to consider others firs

Are you sick and tired of feeling overworked, overstressed, and like you have no free time? Do you constantly find yourself overcommitted and juggling how to fit just one more thing into your calendar? We are tired of this too! That's why we are talking about how you can say no (even to family and friends) and why it's important in this week's episode of the podcast. It can be so hard to say no. You may find yourself feeling guilty, especially if you say no to friends and family, or if you say no to taking on more work and earning more money. But saying no can become easier over time and it's actually very important to learn to say no. Read on to find out the do's and don'ts of saying no and why it's an important word to have in your vocabulary. Do Take Time to Think it Over One of the biggest reasons people say "yes" to things they don't really want to do is because they feel pressured to answer right away. This is especially true if you are asked in-person, but it's become even more common via other forms o

So many people strive for the perfect balance in their life, but will they every find it? We've talked about finding balance in many of our episodes in the past but in this one, we're discussing why it's really difficult to achieve and why you should accept the fact that life will not be perfectly balanced all the time. The Truth About Work-Life Balance If you're struggling to find the perfect work-life balance, you're not alone. Many workers find it hard to balance their jobs with their social and family life. It leaves them feeling overworked, stressed out, and frustrated. Sometimes work-life balance gets so bad that you need to consider taking another job. In order areas, it all depends on how well you can prioritize and manage your time. If you are taking on way too many responsibilities, saying yes to everything (especially things we truly don't want to do), and putting a ton of pressure on yourself, it's no wonder why you feel like you can't balance. When you say yes often and prioritize everything, the

Have you found your purpose in life? It can be difficult to figure out what your path is, but once you do, it can help you feel so much more fulfilled. The truth is, none of the three of us have all the answers. We're still working on using our gifts and figuring out our purposes too. Plus, your purpose might change over time, making it even more difficult to pursue. This week on the podcast, we're discussing things we are doing to try and figure out our purpose and what we think it might be at this point in our lives. How to Find Your Purpose Since we're all still in our 20's, we're still working on finding our purposes and the best ways to use our gifts. But, what we've discovered so far is that finding your true purpose takes time and quite a bit of self-reflection. There are several things that go into it, a few of which we've already discussed this season and last season, such as: Knowing your values Living authentically Ignoring those around you Practicing gratitude Cultivating an abundance mindset It

What does creativity mean to you and do you practice it outside of work? Work can take up such a big part of our day and become a huge part of our identity which can create an issue. It's easy to become obsessed with earning the most money and becoming the best team member that you forget about having hobbies that you love and embracing your creative and playful side. This week on the podcast, we're discussing how you can give yourself more permission to be creative and go after fun things that have nothing to do with work or being the best. But first, here are a few things you should know about creativity. Being Creative Can Actually Make You Better At Your Job Saving all your creativity and energy for the job can actually turn out to be a bad move. Ever had a 'creative block'? That's probably because you've been overworking yourself and forces creativity into your job to achieve certain results instead of taking the time to experience it first hand and pull from personal experiences. Having a creative outle

Have you ever found yourself caught up in the trap of automatically responding with "busy" whenever someone asks how you are doing or what's going on in your life? We have, and we're tired of the scripted nature of this conversation. It seems as if no one is actually asking these questions to find out a genuine answer. Instead, these have become part of a standard and scripted greeting. Plus, whenever you say "busy" as you answer, it always prompts the person to tell you that it is a good thing because it equals success. But, we're here to tell you that being busy isn't the same as being productive or being successful. In fact, we've come to believe that it's actually a negative thing. That's why the topic of our podcast this week is how you can stop being busy and break free of the idea that it is the same as being successful. Why "Busy" Doesn't Equal Success As we said before, being busy is NOT the same as being productive or being successful. And yet, may people proudly share how "busy" they are all the ti

How often do you show gratitude? Being grateful is a habit everyone should adopt because it can change your entire outlook on life. Sometimes we get comfortable with our situation and start to take it for granted which can lead to unhappiness and feelings of inadequacy. This week on the podcast, we're discussing how to embrace gratitude and make it a regular habit. Each of us has our own experience and opinions on showing gratitude so there's more than one way to integrate the habit into your life. How Gratitude Can Change Your Life Having gratitude provides many benefits that can change your entire life for the better. First, it's been proven that gratitude can improve your quality of life. The 'you only live once' mantra really comes into play here because you don't want to spend all your time complaining about how things aren't good enough, being envious of others, or making a mental list of everything you don't have. Gratitude improves your quality of life by allowing you to be more positive and enthusias

Do you struggle with being a perfectionist? If so, we can relate. There are times when being a perfectionist is seen as a good thing. It means you strive to always do your best, but it can also be a hindrance. Because being a perfectionist can cause harm to yourself and your loved ones, we decided to tackle the topic of how to stop being a perfectionist in our podcast this week. The Problem with Perfectionism If you take perfectionism to an extreme, it means you are literally striving for everything to be 100% perfect. You can get caught up in the details and end up wasting a lot of time on something that could be completed in far less time by a non-perfectionist. This can be a problem if you are self-employed because you won't be able to get as much value for your time on a project. But, even in a traditional career, this perfectionism can be a problem. When you get stuck in these little details, not only are you hindering your productivity, but you can be holding up your co-workers too. Plus, being a perfec

Being authentic means coming from a real place within. You can only live authentically once you've defined your values and beliefs so that your actions and words align with them. Living authentically is something we believe everyone should strive for because our time is often so limited and you only have once shot to live on this Earth. If you want to live with fewer regrets and be more fulfilled, it's important to embrace an authentic lifestyle. Breaking Through Barriers Living authentically sounds easy, but it's harder to accomplish especially as you get older. The younger you are, the fewer experiences you have with other people and society as a whole so it's easy to live an authentic life. However, once you start having negative and positive experiences with others, you may let people and outside factors like the media influence how you act, what you believe in and how you live your life. It's important to disconnect from worrying about what other people think about you as you strive to establish a lifest