Breaking Money Silence®

Should you do estate planning for your pets? | Episode 55

Estate Planning for Your Pets

We all know estate planning is an important part of being financially responsible and leaving things in order for our family so they don’t have to worry about when we die. But, did you know that estate planning for our pets (or our furry kids) is equally important?  Did you know:  68% of the households in the United States have at least one pet. Less than 40% of dog and cat owners have named a pet caretaker upon their death. Only 12% of dog and cat owners have made financial provisions f...

Money Myth: Single women can’t be financially successful.

Jacqueline Porter, CFP®, Carte Wealth Management www.cartewm.com https://askjackie.ca/ In our society, women still are expected to get married as a way of securing their financial future. However, the modern day woman is often putting off marriage until her career is established or forgoing walking down the aisle altogether. In this episode, Jackie Porter talks with Kathleen about how the myth that single women can’t be financially successful without a man hurts her clients and why she ha...

Can single women be financially successful? | Episode 54

Is it inevitable that my kids will control my finances? | Episode 53

Money Myth: My kids will never control my finances.

Stacy LeBaron, Host of Community Cats Podcast https://www.communitycatspodcast.com/ At a young age, Stacy’s mother taught her to invest, and the money she made from her portfolio allowed her to pursue her passion for rescuing animals. In this episode, Kathleen interviews Stacy about her belief that parents should empower their children from a young age to invest in the stock market and how it is inevitable that your kids (or the next generation) will control your finances as you age.  Key...

Will robo-advisors replace human advisors? | Episode 52

Myth: Robo-advisors will replace human advisors.

Steve Lockshin, Founder and Principal of AdvicePeriod Will robo-advisors replace human advisors? Find out one thought leader’s opinion in this episode. Listen in as Kathleen interviews Steve about his work at AdvicePeriod and his view of how advisors need to embrace change to best serve their clients.  Key Take Aways:  Technology helps advisors better serve you. If you are a do-it-yourselfer now, then you probably will embrace robo-advisors. However, if you prefer to meet with an advisor ...

Is philanthropy only for the super wealthy? | Episode 51

Myth: Philanthropy is for the super wealthy

Michael Thompson, CAP®, Copper Leaf Financial LLC  www.copperleaffinancial.com Myth: Philanthropy is for the super wealthy  Is being philanthropic one of your life’s goals but you believe you have to be wealthy or have lots of extra cash lying around? There are many ways to be philanthropic for the charities or organizations you want to support and it doesn’t always mean having an open checkbook. Kathleen and Michael bust the myth that philanthropy is not just for the super wealthy. Sit ba...

Are people rational consumers? | Episode 50

Myth: People are rational consumers.

Crystal Arnold, Founder, Money-Morphosis and Money-Wise Women Podcast http://www.money-morphosis.com/ Shame, guilt, and fear are the three strongest influences that stop people from talking about money. Listen to Kathleen’s interview with Crystal Arnold about the emotional side of money and learn some ways to get past the emotion and the influence of mainstream media to start money conversations with loved ones and become a more engaged, holistic consumer.  Key Take Aways:  Increase your ...

Myth: You have to earn a ton of money to pay off debt

Katie Welsh, Chain of Wealth Co-Founder https://www.chainofwealth.com/ Listen to this episode and hear Katie tell her story about breaking money silence with her boyfriend and discovering she was $200,000 in debt. She is real life proof that you don’t have to earn a ton of money to pay off debt; you just need a plan and a healthy dose of determination.  Key Take Aways:  Create a financial plan. Katie was a good saver, but she didn’t understand the value of a holistic financial plan that ...

Do you have to earn a ton of money to pay off debt? | Episode 49

Does frugality equal deprivation? | Episode 48

Myth: Frugality equals deprivation.

Elizabeth Thames, “Mrs. Frugalwoods” When you hear the word “frugal” do you actually hear the word “cheap”? According to Liz Thames, frugality gets a bad rap in our culture. Listen to Kathleen’s interview with Liz Thames, aka “Mrs. Frugalwoods” about how being frugal can actually bring you joy and many positive benefits. And, how she practices what she preaches.  Key Take Aways:  Frugality is not deprivation. Frugality gives you an opportunity to save where you might not have been able to...

Is everyone saving for the future but me? | Episode 47

Myth: Everyone is saving for the future but me.

Matt Goren and Michael Thomas, Co-Hosts of NPR’s Nothing Funny About Money radio show. In this episode, Kathleen asks Matt and Michael about the danger in comparing your financial behaviors to others. As three financial educators who believe that money is more than numbers, listen in as the emotional side of saving and spending is explored. Learn tips for letting go of money shame and living a more authentic and value-driven financial life.  What You Need To Know:  Stop comparing your fin...

Is there a connection between your health and your wealth? | Episode 46

Myth: There is no connection between your health and your wealth

Komal Minhas, KoMedia, Founder and Dream, Girl Producer and Co-Founder One of the greatest causes of stress for people can be money. A vicious cycle can occur – money issues cause stress, stress can lead to serious health issues, and health issues can result in more financial struggles. In this episode, Kathleen interviews Komal Minhas about how through personal experience she learned the importance of self-care, and that health and wealth are truly connected. Take aways: Work addiction i...

Myth: Getting a prenup means we will divorce

Amanda D. Singer, San Diego Family Mediation Center  Does the idea of a prenup worry you that you have set the scene for a divorce or raise trust issues? While many believe that signing a prenup predicts divorce, it is actually a great way to break money silence before you walk down the aisle. Listen in as Kathleen interviews Amanda about how to bust this myth wide open and start communicating about money before you say “I do.”  Take aways:  All couples have a prenup even if you don’t cra...

Does getting a prenup mean we will divorce? | Episode 45

Myth: Financial planning is all about the numbers

Traditional financial planning focused on producing a plan with lots of numbers, charts, and graphs. This can leave clients feeling that finance is complex and hard to understand. For some clients, especially women, the perceived judgment by financial professionals gets in the way of them taking care of themselves financially. In this episode, Kathleen interviews Stephanie, an advisor dedicated to busting the myth that planning is all about the numbers and showing her clients that they can b...

Is financial planning just all about the numbers? | Episode 44

Are my kids are too young to teach them about money? | Episode 43

Myth: My kids are too young to teach them about money

Justin Pullaro, Co-Founder, Small Change When is it the ‘right time’ to start teaching our kids about money? How do you teach them about finance in ways that they will understand? In today’s episode, Kathleen interviews Justin Pullaro, Co-Founder of Small Change, to find out the best age to start money conversations with your children and how to make it fun and engaging. Listen to discover tips and tools for empowering your children, grandchildren, or nieces and nephews about finance.  Tak...

Myth: Women have lower financial IQ than men.

Adrienne Penta, Executive Director Center for Women & Wealth, Brown Brothers Harriman While the audio quality of this episode is less than ideal, the information is valuable so we decided to publish it. Thank you for your patience with the sound. Adrienne Penta is truly a breaking money silence revolutionary! In this episode, Kathleen and Adrienne debunk the myth that women are less financially literate than men. Using statistics and her wealth of knowledge on the topic, Adrienne shows wom...

Do women have lower financial IQ than men? | Episode 42

Myth: To be a true artist you must starve.

Erin Bagwell, Dream, Girl Director; Feminist Wednesday Founder Do you really need to be a starving artist as you pursue your life’s passion? Many artists do allow the everyday pressures of simply making ends meet limit their growth and affect their money mindset. Kathleen interviews Erin Bagwell, director of the film Dream, Girl, about the myth that to be a true artist you must be poor and starving.  Takeaways: Many people are uncomfortable talking about money, but practice helps. Make ti...

Is it true that to be a true artist you must starve? | Episode 41

Will your business get you to retirement by itself? | Episode 40

Will your business will get you to retirement by itself? | Episode 40

Josh Patrick, Stage 2 Planning Partners Owning and running your own business has many aspects to it including if you want to sell your business in the future. Many business owners don’t realistically plan their exit strategy and believe that working hard in the business will reap financial rewards sufficient to fund their retirement. In this episode, Kathleen interviews Josh about the steps business owners need to take now to build a sustainable business that is saleable tomorrow. Take Away...

Myth: Your business will get you to retirement by itself

Josh Patrick, Stage 2 Planning Partners Owning and running your own business has many aspects to it including if you want to sell your business in the future. Many business owners don’t realistically plan their exit strategy and believe that working hard in the business will reap financial rewards sufficient to fund their retirement. In this episode, Kathleen interviews Josh about the steps business owners need to take now to build a sustainable business that is saleable tomorrow.  Take Aw...

Myth: For the average America, mutual funds are the only place to invest your savings

Janice Shade, Invest in Vermont, Milk Money - https://www.milkmoneyvt.com/ Janice Shade firmly believes that you have more investment options than many people are aware of and that crowdfunding is the wave of the future. Listen to this episode, as Kathleen interviews Janice about how you can invest in small, local businesses and see a return on investment right in your backyard. (Note: The contents of this episode should not be considered investment advice.)  Take Aways:  Investing in a l...

For the average American, are mutual funds the only place to invest your savings? | Episode 39

Myth: I'll know when I'll need help managing my finances when I'm old.

Dr. Carolyn McClanahan, M.D. CFP®, Director of Financial Planning, Life Planning Partners www.whealthcareplan.com     People tend to be in denial about needing help managing their finances and everyday life routines as they get older. The consequences of not talking about and planning for the aging process with your family can be emotionally and financially devastating. The good news is financial planners like Carolyn McClanahan know the risks are high and work with their clients and other...

Will I know when I need help managing my finances when I’m old? | Episode 38

Myth: Women are not interested in finance.

Kathleen Peace, Partner and Financial Consultant, Woodgate Financial Join Kathleen and her guest Kathleen Peace as they bust this myth wide open and show you how women are just as savvy and interested in finances as men. Find out how even women who are labeled as “gold diggers” are demonstrating their interest in money and wealth, and discover tips for challenging your thinking when it comes to this fallacy.  Key Take Aways  Women investors and traders actually perform better than their m...

Are women not interested in finance? | Episode 37

Should men manage the money? | Episode 36

Myth: Men should manage the money.

Stacy Francis, CFP®, CDFA®, CES™, Francis Financial  The myth that men should manage the money is one that many women succumb to when they get married. This includes women who for years managed their own money during college and at the beginning of a career. However, approximately 80% of women will end up having to manage their money without a partner at some point in their life due to divorce or the death of a spouse. Stacy and Kathleen investigate this myth and how it can severely disadva...

Should parents protect their children from college financing decisions? | Episode 35

Myth: Parents must protect their children from college financing decisions

Ryan Lane, Senior Editor, American Student Assistance  The college selection process is complex and stressful, and many parents fail to discuss the long-term financial ramifications of taking on student loan debt with their children. In today’s episode, Kathleen and Ryan discuss how many parents try to protect their children by not talking about money, but do the family a disservice by not engaging in this important and enlightening conversation. Ryan offers tips for involving your children...

Is spending bad? | Episode 34

Brittney Castro, CFP®. CRPC®, AAMS®, Founder and CEO, Financially Wise Women  Many of us grew up with the financial psychology mindset that spending money is bad. For example, do you cringe when you spend money or feel guilty? Do you hide your spending from family members? If so, then today’s episode is for you. Kathleen interviews Brittney Castro about spending – the good and the bad – and busts the myth that all spending is bad. Listen in and you may find that this show affects your spendi...

Is all spending bad? | Episode 34

Myth: Spending is bad

Brittney Castro, CFP®. CRPC®, AAMS®, Founder and CEO, Financially Wise Women  Many of us grew up with the financial psychology mindset that spending money is bad. For example, do you cringe when you spend money or feel guilty? Do you hide your spending from family members? If so, then today’s episode is for you. Kathleen interviews Brittney Castro about spending – the good and the bad – and busts the myth that all spending is bad. Listen in and you may find that this show affects your spend...

Are only male entrepreneurs interested in growing their businesses? | Episode 33

Myth: Only male entrepreneurs are interested in growing their businesses

There are many myths about entrepreneurship that can reinforce stereotypes, one of which is that only men want to grow their businesses. Kathleen and Ann bust open this myth and teach listeners the facts about female entrepreneurs and their desire to compete with the big boys. Listen in to their discussion about how women entrepreneurs can position themselves for growth, obtain venture capital, and overcome roadblocks they may face in the process.  Key Take Aways:  Women entrepreneurs are ...

I don’t need to talk about finances before getting married? | Episode 32

Julie Lawrence, CFP®, Lawrence Financial Planning, LLC Not talking about money is the number two reason couples divorce according to Marriage.com. But couples who discuss money matters regularly act as a team and report greater levels of satisfaction with their partners. In today’s episode, Kathleen and Julie Lawrence, CFP®, examine the myth that couples don’t need to talk about finances before getting married. Listen in and learn some tips for talking about money with your honey! Key Take ...

Is it true I don’t need to talk about finances before getting married? | Episode 32