December 13, 2021 • 11 mins
Holly Reid is a certified public accountant, an award-winning author, speaker, and financial education instructor.
Holly teaches adults and the next generation how to become responsible managers of their finances. She shares the importance of showing younger generations about finances, her reason for building a financial education and wellness company, The Master Playbook.
Host: @itstanyatime
Guest IG: @themasterplaybook
Guest Website: The Master Playbook
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Hey, money movers, Welcome back to Money Moves, the daily
podcast determined to give you the keys to the kingdom
of financial stability, wealth and abundance. If you are a
lawyer listener, then you already know what we do here,
(00:21):
But if you're new to the podcast, know that our
goals are to help provide you with the keys, tips
and tools to the financial kingdom of wealth and success.
In our community, we often treat money and finances as
a taboo topic. We behave as if it's something we
shouldn't talk about because it's impolite. As a result, we
tend to fail to pass down the things we've learned,
(00:42):
the knowledge that we've acquired through trial and error, or
even the things we wish we had learned and been
able to pass on to our children or future generations,
leaving them on their own to flounder in their financial landscapes.
But the reality is, if we open up the conversation
and stop being so shy about money talk, we can
invariably teach our future generations on how to make big
(01:05):
money moves. But there's so much talk about where do
we even start? How do we figure it out? So
today we have someone with us who learned about finances
the hard way and is ready to break the generational
curses of silence. Holly de Reid is a certified public accountant,
an award winning author, speaker, and financial education instructor who
(01:25):
believes that adults and the next generation need to learn
to move forward in a responsible and prosperous financial future. Holly,
Welcome to the Money Moves Podcast. Thank you for having me,
happy to be here. I'm so excited to have you here,
and thank you so much for joining. Let's jump right in, so, Holly,
(01:46):
my first question for you is tell us a little
bit more about yourself and your financial story. What brought
you to where you are now? Yeah, absolutely so. My
story is probably very similar to many people's stories in
this space. Like, my parents taught me everything that they
thought I should know in order to be successful, to
(02:10):
be functioning, contributing adults in society, and so really, by
the age of twenty three, I accomplished everything that they
had kind of set me up right. I went to
Carolina and t I graduated with honors, I bought a house,
and I was working for one of the top public
(02:31):
accounting firms in the world. I was like the epitome
of young and successful, and so much so that I
was doing exactly what my America taught me to do. Right.
I was living above my means. I was not saving
a guy, but I was accumulating a bunch of debt right, so,
(02:54):
I was living off of credit cards. I had acquired
student loan, debt, auto loans. I mentioned I had bought
a house. That was something that my dad was very
specific that he wanted each of his his daughters to do.
And then Tanya, the dot com bubble bursts. The firm
that I was working with lost clients and missuccess me.
(03:18):
I lost my job and I was devastating. Ready, I
wasn't prepared. Um, I was hurt. I was humiliated, and
it took everything I had, even in my early twenties
to share that news with my parents right that I
had just been laid off. And it was in that
(03:41):
moment I would say that, in that conversation that I
was sharing with my parents that I felt, um shamed.
There was the shame of me being so wasteful for
me to have reached, you know, success at that age. Um,
but I didn't have anything to show for it, and
I pretty much vowed that I would never be in
(04:04):
that situation again. Right, that was like my first taste
of rock bottom. And that's why I started the Master Playbook.
And so the Master Playbook is a financial education and
wellness company where we focus on educating parents, I storing students,
(04:25):
specifically school aged kids, so middle school, high school, young adults,
college students, UM, practice and master those foundational building blocks
so that they can secure financial success. Oh that's InCred
I mean, what a story, what a story. Arc You know,
you rose up, you did all the things you were
(04:46):
supposed to be, you bought a house, and I mean
that time when you know, the dot com bubble burst
was terrible time for so so many people. Um, and
now you've sort of transitioned to laying this foundation for
these younger generations to avoid all the pitfalls that you did. Right. Absolutely,
I mean it is critical. One of the things that
(05:08):
we really don't talk about is how money management is
a life skill. It is absolutely a life skill. Once
you are earning money out on your own, is something
that you will always have to make decisions and choice about.
Yet our school system we don't prioritize it, right, not
at all, not at all, there are literally I think
(05:32):
maybe six states that are kind of considered the gold
standard of where they require high school students to take
a semester of personal finance classes before they graduate. UM.
But that's that's that's an improvement. I've been part of
this business, um. But we have a long long way
(05:54):
to go. So take me back to you know, this
point when you talk about you hit rock bottom looking back,
what specific things would you have done differently because you
had a house, you had an income. So what are
some of the pitfalls that you can you know, share
with us to make people avoid the circumstances that you
went through. Absolutely So, while my parents gave me that advice,
(06:18):
my dad never stopped saying, Holly, you need to save
your money, Holly, put something away, you need to spend wisely,
you need to slow down a little bit, not you know,
stop chasing the Joneses and trying to acquire all the
all the material things right, going on all the trips
with your girlfriends. And while he told me that, what
(06:40):
I realized in reflection looking back, the gap was no
one ever set me down and told me how to
do it, at me down and showed me why it
was so important. It unfortunately took you know, the economy
flailing on, right, and it was in my job in
(07:01):
order for me to learn that lesson and listen. I think,
unfortunately that's how a lot of us learn. Yes, we
learn it by going through it and then saying, Okay,
I'll never do that, I'll never do that again. And
this is what I love about. You know, the programs
that you're putting on. You're trying to help so many
of us avoid that from a young and early age.
(07:23):
So on your website you talk about teaching adults and
the future generations how to become responsible stewards of their finances.
What does that look like? Yeah, so really I focus
on parents and a specific parent right like intentional parents,
parents age kids, whether your child is aged four or
(07:44):
eighteen or twenty two. But I really focus on families
and parents who kind of understand they've they've hit some
rough patches in their own financial lives, um and they
don't want their kids to fall into those same financial pitfalls.
I really target people who understand the value of this
(08:07):
education and really want to set their kids and their
family on a different trajectory. Right, Listen, we we live
in an environment where a lot of the families that
I work with, they are probably like first generation ballers,
like first generation where they have the disposable income to
(08:28):
give their things, to buy material things for their kids,
or two their kids experiences that maybe they didn't have.
What my goal now is instead of you know, instead
of you buying all five pair of Jordan's, now, let
me tell you how to go buy the Nike stock. Right,
that's gonna save you somebody. So instead of him wearing
(08:51):
the shoes on his feet, let's put some assets in
your child's name, um, so that we can start building
this legacy. And that's what this is really all about. Right.
It's like most generational wealth is lost by the second
or third generation, and it's because we don't talk about it,
because we don't talk about it. And what I love
(09:12):
about what you're doing is, you know, children are also
super observant, so I think this also helps the parents too. Right,
we model after what our parents are showing us. And
you spoke about this generation now where we have so
much more an elevated you know, middle class where we
have folks who have more disposable income to spend on
these other things. But children see that, so they see
(09:34):
dad buying ten fifteen pairs of Jordan's and then you're saying, hey,
save your money, save your money, like you know, you
really have to embody and practice what you preach. Absolutely,
our kids are watching us, but we think is cute
when they're little and they mimic us, or we dress
them just like us. Right, But our kids they learn
(09:55):
through observation. They'll listen to what you say that they
gonna follow what you do. And if they are learning
it from you, trust me. There are several outside influences,
whether it's actors, actresses, there's all the things that we
(10:15):
see on TV, on television and movies. They are going
to gravitate towards something and learn something from what they see.
That's why it's so important that we start these money
conversations in the home. First. I love that, Holly. Thank
you so much for your time today. You have dropped
a wealth of information on us, not just for us
(10:37):
but also future generations. So thank you so much for
educating us, and thank you so much for the work
that you do. Thank you so much. I appreciate you.
Thank you so much for tuning in money moves audience.
If you want more or a recap of this episode,
Please go to bank Greenwood dot com and check out
the Money Moves podcast blogs. Stay tuned tomorrow and every
(10:58):
day this week from very special Money Versus Moves. While
I was learning about personal finances while I was losing
my home, it really bought a lot of insight to
me of how important financial education is. More from our experts,
I literally plaused my way out of over thirty thousand
dollars they did. A flame was lit and I wanted
(11:19):
everyone I knew to know what it felt like to
live on the other side of it. And I guess
you won't want to miss the marketing powerhouse ingrid Best.
There's a lot of non traditional stuff going on, like
advertising the mediums like Pinterest, right, I feel like you're
totally putting me onto stuff. Money Moves is an I
(11:39):
heart Radio podcast powered by Greenwood Executive produced by Sunwise Media, Inc.
For more podcast on I heart Radio, visit the I
heart Radio app, Apple Podcasts, or wherever you get your
podcasts from.
Hey, money movers, Welcome back to Money Moves, the daily
podcast determined to give you the keys to the kingdom
of financial stability, wealth and abundance. If you are a
lawyer listener, then you already know what we do here,
(00:21):
But if you're new to the podcast, know that our
goals are to help provide you with the keys, tips
and tools to the financial kingdom of wealth and success.
In our community, we often treat money and finances as
a taboo topic. We behave as if it's something we
shouldn't talk about because it's impolite. As a result, we
tend to fail to pass down the things we've learned,
(00:42):
the knowledge that we've acquired through trial and error, or
even the things we wish we had learned and been
able to pass on to our children or future generations,
leaving them on their own to flounder in their financial landscapes.
But the reality is, if we open up the conversation
and stop being so shy about money talk, we can
invariably teach our future generations on how to make big
(01:05):
money moves. But there's so much talk about where do
we even start? How do we figure it out? So
today we have someone with us who learned about finances
the hard way and is ready to break the generational
curses of silence. Holly de Reid is a certified public accountant,
an award winning author, speaker, and financial education instructor who
(01:25):
believes that adults and the next generation need to learn
to move forward in a responsible and prosperous financial future. Holly,
Welcome to the Money Moves Podcast. Thank you for having me,
happy to be here. I'm so excited to have you here,
and thank you so much for joining. Let's jump right in, so, Holly,
(01:46):
my first question for you is tell us a little
bit more about yourself and your financial story. What brought
you to where you are now? Yeah, absolutely so. My
story is probably very similar to many people's stories in
this space. Like, my parents taught me everything that they
thought I should know in order to be successful, to
(02:10):
be functioning, contributing adults in society, and so really, by
the age of twenty three, I accomplished everything that they
had kind of set me up right. I went to
Carolina and t I graduated with honors, I bought a house,
and I was working for one of the top public
(02:31):
accounting firms in the world. I was like the epitome
of young and successful, and so much so that I
was doing exactly what my America taught me to do. Right.
I was living above my means. I was not saving
a guy, but I was accumulating a bunch of debt right, so,
(02:54):
I was living off of credit cards. I had acquired
student loan, debt, auto loans. I mentioned I had bought
a house. That was something that my dad was very
specific that he wanted each of his his daughters to do.
And then Tanya, the dot com bubble bursts. The firm
that I was working with lost clients and missuccess me.
(03:18):
I lost my job and I was devastating. Ready, I
wasn't prepared. Um, I was hurt. I was humiliated, and
it took everything I had, even in my early twenties
to share that news with my parents right that I
had just been laid off. And it was in that
(03:41):
moment I would say that, in that conversation that I
was sharing with my parents that I felt, um shamed.
There was the shame of me being so wasteful for
me to have reached, you know, success at that age. Um,
but I didn't have anything to show for it, and
I pretty much vowed that I would never be in
(04:04):
that situation again. Right, that was like my first taste
of rock bottom. And that's why I started the Master Playbook.
And so the Master Playbook is a financial education and
wellness company where we focus on educating parents, I storing students,
(04:25):
specifically school aged kids, so middle school, high school, young adults,
college students, UM, practice and master those foundational building blocks
so that they can secure financial success. Oh that's InCred
I mean, what a story, what a story. Arc You know,
you rose up, you did all the things you were
(04:46):
supposed to be, you bought a house, and I mean
that time when you know, the dot com bubble burst
was terrible time for so so many people. Um, and
now you've sort of transitioned to laying this foundation for
these younger generations to avoid all the pitfalls that you did. Right. Absolutely,
I mean it is critical. One of the things that
(05:08):
we really don't talk about is how money management is
a life skill. It is absolutely a life skill. Once
you are earning money out on your own, is something
that you will always have to make decisions and choice about.
Yet our school system we don't prioritize it, right, not
at all, not at all, there are literally I think
(05:32):
maybe six states that are kind of considered the gold
standard of where they require high school students to take
a semester of personal finance classes before they graduate. UM.
But that's that's that's an improvement. I've been part of
this business, um. But we have a long long way
(05:54):
to go. So take me back to you know, this
point when you talk about you hit rock bottom looking back,
what specific things would you have done differently because you
had a house, you had an income. So what are
some of the pitfalls that you can you know, share
with us to make people avoid the circumstances that you
went through. Absolutely So, while my parents gave me that advice,
(06:18):
my dad never stopped saying, Holly, you need to save
your money, Holly, put something away, you need to spend wisely,
you need to slow down a little bit, not you know,
stop chasing the Joneses and trying to acquire all the
all the material things right, going on all the trips
with your girlfriends. And while he told me that, what
(06:40):
I realized in reflection looking back, the gap was no
one ever set me down and told me how to
do it, at me down and showed me why it
was so important. It unfortunately took you know, the economy
flailing on, right, and it was in my job in
(07:01):
order for me to learn that lesson and listen. I think,
unfortunately that's how a lot of us learn. Yes, we
learn it by going through it and then saying, Okay,
I'll never do that, I'll never do that again. And
this is what I love about. You know, the programs
that you're putting on. You're trying to help so many
of us avoid that from a young and early age.
(07:23):
So on your website you talk about teaching adults and
the future generations how to become responsible stewards of their finances.
What does that look like? Yeah, so really I focus
on parents and a specific parent right like intentional parents,
parents age kids, whether your child is aged four or
(07:44):
eighteen or twenty two. But I really focus on families
and parents who kind of understand they've they've hit some
rough patches in their own financial lives, um and they
don't want their kids to fall into those same financial pitfalls.
I really target people who understand the value of this
(08:07):
education and really want to set their kids and their
family on a different trajectory. Right, Listen, we we live
in an environment where a lot of the families that
I work with, they are probably like first generation ballers,
like first generation where they have the disposable income to
(08:28):
give their things, to buy material things for their kids,
or two their kids experiences that maybe they didn't have.
What my goal now is instead of you know, instead
of you buying all five pair of Jordan's, now, let
me tell you how to go buy the Nike stock. Right,
that's gonna save you somebody. So instead of him wearing
(08:51):
the shoes on his feet, let's put some assets in
your child's name, um, so that we can start building
this legacy. And that's what this is really all about. Right.
It's like most generational wealth is lost by the second
or third generation, and it's because we don't talk about it,
because we don't talk about it. And what I love
(09:12):
about what you're doing is, you know, children are also
super observant, so I think this also helps the parents too. Right,
we model after what our parents are showing us. And
you spoke about this generation now where we have so
much more an elevated you know, middle class where we
have folks who have more disposable income to spend on
these other things. But children see that, so they see
(09:34):
dad buying ten fifteen pairs of Jordan's and then you're saying, hey,
save your money, save your money, like you know, you
really have to embody and practice what you preach. Absolutely,
our kids are watching us, but we think is cute
when they're little and they mimic us, or we dress
them just like us. Right, But our kids they learn
(09:55):
through observation. They'll listen to what you say that they
gonna follow what you do. And if they are learning
it from you, trust me. There are several outside influences,
whether it's actors, actresses, there's all the things that we
(10:15):
see on TV, on television and movies. They are going
to gravitate towards something and learn something from what they see.
That's why it's so important that we start these money
conversations in the home. First. I love that, Holly. Thank
you so much for your time today. You have dropped
a wealth of information on us, not just for us
(10:37):
but also future generations. So thank you so much for
educating us, and thank you so much for the work
that you do. Thank you so much. I appreciate you.
Thank you so much for tuning in money moves audience.
If you want more or a recap of this episode,
Please go to bank Greenwood dot com and check out
the Money Moves podcast blogs. Stay tuned tomorrow and every
(10:58):
day this week from very special Money Versus Moves. While
I was learning about personal finances while I was losing
my home, it really bought a lot of insight to
me of how important financial education is. More from our experts,
I literally plaused my way out of over thirty thousand
dollars they did. A flame was lit and I wanted
(11:19):
everyone I knew to know what it felt like to
live on the other side of it. And I guess
you won't want to miss the marketing powerhouse ingrid Best.
There's a lot of non traditional stuff going on, like
advertising the mediums like Pinterest, right, I feel like you're
totally putting me onto stuff. Money Moves is an I
(11:39):
heart Radio podcast powered by Greenwood Executive produced by Sunwise Media, Inc.
For more podcast on I heart Radio, visit the I
heart Radio app, Apple Podcasts, or wherever you get your
podcasts from.
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