Empowered Planning Blog

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Episode Summary:

Today, on the Empowered Planning Podcast, I will tackle the crucial world of debt and credit. I've got a lot lined up to help you get savvy about managing your debts and boosting your credit score. Ever wonder what makes credit 'good' or 'bad'? Or how do those credit bureaus decide your score? Well, I’m breaking it all down today. Plus, I'll guide you through the five big factors that influence your credit score and share some handy tips for tackling your debt. Whether you aim to trim down your debt or spruce up your credit game, this episode is packed with actionable advice to empower your financial journey.

Topics:

• Understanding the difference between good credit vs. bad credit
• Demystifying credit scores and their impact on your financial profile
• The importance of good credit in various aspects of life
• The complete breakdown of the five factors that determine your credit score
• Practical strategies for...

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Episode Summary:

In this episode, I’m sharing my favorite tips on how to save money in January after coming off a high spending season in November and December. We’ll cover the different ways to reduce energy costs, such as using smart thermostats and LED bulbs. Then I’ll dive into cutting down on unwanted subscriptions and how to optimize your cell phone plans. I’m giving suggestions on negotiating bills and shopping for the best deals in January, including holiday decor, TV and home theater equipment, and furniture. I’m also telling you why I am cautioning against buying large home appliances, mattresses, and fitness equipment this month. The last tip I share revolves around everyone’s biggest stressor – grocery shopping! I hope this is helpful for you this month and beyond.

Topics:

• Reducing energy costs by using smart thermostats, LED bulbs, and unplugging electronics when not in use...

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Episode Summary:

I’m excited to share our first guest episode of 2024 with Nikki Nie, a 500 hour ERYT Tantric Hatha Yoga and Meditation teacher and client of mine! I’ve seen Nikki make the transition into entrepreneurship with so much success (and financial stability!) and wanted her to share her story today on the podcast because she shows what’s possible for you if you’re thinking of making the leap from contractor to business owner. Chasing her passions is what’s most important to Nikki, but she wanted to make sure she was protected financially. Throughout our work together she has drastically reduced her debt, has leveraged multiple income streams, and has increased her confidence with money. Nikki blows me away and I’m so excited for you to learn from her during this conversation!

Topics:

• How Nikki moved from professional dancing in Hollywood to entrepreneurship via yoga and...

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Episode Summary:

We are gearing up for the holiday season, my favorite time of year! If you have been out of your house and have gone to literally any store, they already have their big holiday decorations out and this is such a fun time of year. But for a lot of women, a lot of moms, I know it also comes with a lot of stress – you're having to provide this magical experience for your kids and loved ones, on top of your regular to-do list and duties. So I want to help as much as I can on the financial side of things because it's really up to us to balance out what's going to work. In this episode I’m sharing a few tips to feel financially stable during the holiday season, from apps you can use to focusing on sustainability. I hope this helps you remain excited about the weeks to come!

Topics:

• Different tools and apps you can use to stay on top of your holiday gift budget
  Why Shinobu suggests opening a separate bank...

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Episode Summary:

We have about two months left in the year, which is crazy to say, but as we're gearing towards the end of 2023, I'm starting to get a lot of questions around taxes if you have a side hustle, if you're part of the gig economy, if you started freelancing, or if this is your first year as an entrepreneur. There is a lot of unknown in this area for most people, this can lead to a bit of panic but rest assured you have time to figure it all out if you start to be proactive today! In fact, I believe now is the perfect time to start planning for your taxes because you're getting yourself ahead of the holiday season, which can be an expensive time of year. So dive in with me as I walk you through steps you can take today to feel more confident about filing your taxes come the new year!

Topics:

• The most important things to keep in mind as you prepare to file your taxes for 2023
• Why Shinobu believes the first thing you...

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Episode Summary:

Last week on the podcast, we talked about how to unpack all of the money baggage that we essentially got through our childhood and growing up, so if you haven’t listened to that episode, go do that now! This week I want to take things a step further and talk about the six most common money blind spots, as I call them, that tend to show up in our lives. Money blind spots are beliefs or thoughts that obstruct the way that we view money in our lives. In this episode, I want to try to normalize this for you because we have all of these voices in our head that we interact with throughout the day that can prevent us from moving forward in our lives if we don't really address them. My hope is that you’ll listen to this episode and leave with actionable steps you can take to heal your money blind spots to become more confident in your financial decision making!

Topics:

• How Shinobu identifies money blind...

As we enter into March of 2021, are you on track to reach the financial goals you set for yourself this year? I’m here to hold you accountable and be your advocate for positive impact! The holiday buzz has long worn off and there was no easing into 2021. Setting annual financial goals is a moot exercise if you aren’t able to measure and track your progress, so let’s carve out a few minute and do it right now. Here are 3 tips for staying on track to hit your 2021 financial goals.

#1- Begin with the end in mind.

In Stephen Covey’s bestseller, The 7 Habits of Highly Effective, he challenges readers to image the end of their lives as a reference for evaluating everything else. I’m tasking you to take a bit-size piece of this and start with December 31st, 2021 with the end in mind. Picture yourself counting down to the New Year. What are you most proud of financially that you accomplished this year?

If you haven’t already set financial goals for this...

Entrepreneurship comes with freedom and flexibility making it exciting to take the leap of faith. As you find success, you also find new challenges: new level, new devil. With so many balls to juggle, like visionary, sales, marketing, the list goes on, financial goals can be put on the back burner. So it’s not surprising that many entrepreneurs neglect saving and investing for their future. To help you navigate the wild world of entrepreneurship I've picked 3 financial areas you shouldn't neglect: 

#1- Set money aside for taxes.

Depending on your type of work, cash infusions into the business can ebb and flow making it difficult to predict your total income. It’s a safe bet to set aside 30% of your business income for taxes purposes.  If you don’t pay enough taxes throughout the year, you can be charged a penalty by the time you file. It’s important to explore paying quarterly estimated taxes. Click Here to learn more from the IRS website.

#2-...

Tired of the same heart shaped chocolates on Valentine’s Day? Ready to spice up your relationship? Enter finances. While finances are a leading cause of fights among couples, proactively discussing financial goals can bring couples closer together. Understanding your partner on a deeper level, like their financial values, can open a door to an intimacy that has long lasting impact.

We all have been there. You fall deeply in love. You can stare into each other’s eyes for hours. You can finish each other’s sentences AND sandwiches. But what happens when you float down from the love cloud? Financial transparency and compatibility are accompanied by fidelity. So in addition to the sweet nothings you whisper to your lover this V-Day, spice it up by talking finances.

Here are 3 healthy tips for talking money with your partner.

#1- Set the stage. Randomly asking your partner financial questions can put them on the defensive. We all have money values that are unique to our...

I am a huge advocate for making finances part of your overall lifestyle. It’s common for money and investing conversations to be uncomfortable and often accompanied by anxiety. In fact, in a recent survey from Capital One CreditWise, 73% of Americans rank their finances as their number 1 stressor in life!  Let’s buck this trend and start this year off from a place of financial empowerment!

So where do you start? Drumroll please…yup it’s examining your spending. I know I know. Budgeting, boo right? When most people hear the word budgeting, they think boring, restrictive and no thank you. When you know what you spend and where you are spending, you can go after what you truly want from life! What’s sexier than that?!

Going through each month blindly, you can feel out of control or at the mercy of money. Having transparency on where your money is going, you can be intentional about how you spend money and take back control.  A popular and easy...