Episode Transcript
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(00:01):
Well, you just walked into our podcast episode of Did She
Really Say That This conversation is all about money
And ladies, I do not know why weshy away with our relationship
with money, but it's time to change that.
So this conversation, this episode is going to challenge a
lot of your beliefs and your relationships with money.
Why? Because it's freaking time, all
(00:24):
right? We've got a very short window to
help you ladies. So here's a real deal
conversation. In the next 5 years, we're set
to inherit over $30 trillion in financial assets.
You know how much education and training we've had?
Less than 50 years. We have so much to catch up and
learn. And This is why I know it's such
an important conversation that we're having here on.
(00:45):
Did she really say that? So no matter where you're at, if
you're just getting started, if you're midway through, if you're
678 figures, you really need to start having financial
conversations at the next level.And I'm not talking surface
level, I'm not talking with just, you know, doing your
taxes. I'm talking a whole other
strategy level and a relationship with that.
So to help us with this conversation because I know how
(01:08):
important this is, that's why webuilt it into the create her
calendar and planner. We teach you how to track your
cash flow money just like Michelle's going to talk with
you today because this conversation cannot be tabled
any longer. So who the heck is Michelle that
I brought with me today? I'm so glad you asked, ladies.
So she is a former CPA and business consultant.
(01:29):
She is the current. She's the current like you were
ever not the CEO of this company, but she's the CEO of a
limit free life. Yes, limit free life.
Why? Because every that's what we
want. We want a limitless life as
women, right? We want financial prosperity.
She does help both men and women.
(01:50):
She's not exclusive to females. Thank you for that.
But really, she wants you to fall in love with making money
and having a job and a mission with that money that gives you
purpose. And I think that's really the
beautiful thing. She wants you to have something
that satisfies your soul, inspires you to live the best
version of your life, and to help you create financial
well-being throughout through accessibility and actionable
(02:12):
financial education and really build a better relationship with
your money. Michelle, thank you for joining
us and welcome to our virtual stage.
Thank you so much. I'm so excited to be here.
That's your animated way that you said limit free life.
I've I've realized in all my years I haven't ever said it
quite like that and I've really been missing the boat.
(02:33):
It's limit free and then it's life like come on, like jump off
the Cliff, take the dive and go and just fly.
Like what would that feel like? Thank you.
So let's start with the beginning.
Why should we even care about this relationship we have with
our money? Yeah, that's a great question
(02:54):
and I honestly didn't. Well, First off, I feel like
people don't know they have a relationship with money.
And maybe I feel that way because I didn't know that I had
a relationship with money. I spent a lot of time studying
finance and accounting. I worked in IT and I worked in
corporate finance and accountingfor 15 years.
I never once was introduced to this concept, so in my mind it
(03:20):
was all about, as you know, you just have to know the rules, you
have to know how to manage your money.
You have to, you know, understand finance and
accounting. As long as you have the
education, you'll be fine. And sorry.
No. A little laugh over here, I'm
like, yeah, that used to be true.
Not so much anymore, OK. No.
And, and, and it's ironic in a way because we have more access
(03:41):
to information and education than we've had in the past, but
neither are really pushed out there.
You know, nobody actually in high school is saying go educate
yourself about money. And even if you go all the way
through, you know, like an MBA that I haven't being ACPA, still
nobody, nobody in the educational process or in the
(04:02):
work life ever mentioned this. So I didn't know it was a thing.
And then I went and I got some coaching at one point and she
introduced this concept. And it was fascinating to me
because the whole psychology of around money, the emotional
aspects of money, I never thought that played a role.
So when I was introduced to it, I really wanted to share this
(04:25):
with the world because it makes all the difference.
And since then, I've gotten veryinto neuroscience and
spirituality and all the things that help you see, you know, the
true value of understanding yourrelationship with money and how
much that impacts your thoughts and consequently your actions
with money. And, you know, we have these
(04:45):
deep seated beliefs in there in our subconscious that we're
unaware of. And they are literally driving
the car for us in terms of money.
So I have a question around thisbecause we do have a lot of deep
seated beliefs. Do you find, because I know you
work with men and women, do you find that women have a lot more,
I guess, resistance or a lot more limiting beliefs around
(05:09):
money than typically the male does?
Yeah, I think it's kind of similar to when men go into a
job interview. I started, you know, my coaching
practice as a career transition coach.
And I would really notice the differences between men and
women when they go into interview.
And, you know, men sort of come in expecting people to find them
(05:32):
interesting and to, and they're much more comfortable asking,
you know, for a larger role or more money.
Women, women definitely have different beliefs.
And on top of it, I feel like women, their belief systems are
just different. You know, for a lot of them,
(05:52):
they feel like this isn't something they have to worry
about. Now.
I think men are a little speedier to come to the
financial table. Well, and I would agree with
that. I think to some extent men are
told they're the providers of the family, so financial set and
knowledge. And I think as women, when I was
doing my research, we've only been able as women to open a
bank account on our own since 1978.
(06:14):
So not even 50 years in. And the reason I know that
'cause I was born in 1978, so I've totally dated myself and
all this and I'm like, I'm not 50 yet.
So you're telling me it hasn't even been 50 years since we've
had the ability to really even own or understand finances as
women. So I think you're looking at
like a generation of women that have both accomplished a lot and
(06:37):
are still transitioning and understanding the knowledge of
what to do with this. So I think there's culturally,
we're all up against it as women.
We're always been told that we'll be taken care of and so
learning to take care of ourselves and understand this
financial world is definitely a relationship game of utter
importance. It is.
And women also take on a much larger sort of nurturer role.
(07:01):
I have a, a money archetypes assessment that I, I do as part
of my program. And I, that's how I got
introduced to this because I took it myself and I found that
my #1 archetype out of eight of them is a nurturer.
Not all women have that. That was the interesting thing
too. I'm like, oh, this is all that's
not at all. But but, but for many of us, you
(07:21):
know, we will put other people first, including, you know, our,
our partners, our kids, our parents, you know, taking care
of them at this point. That wasn't even a thing when I
started this, but now it is. And so there's a lot of delay, a
lot of avoiding money and delaying kind of interacting
with it. And that really, really costs
(07:43):
us. Whereas I think you're right
what you were saying about men, you know, they, they jump right
into career building and, you know, building wealth and all
the things that we're going to get to later.
Yeah, so interesting and yet it's such an important
conversation. So we have women coming in,
we've got men that are listening.
And also, so what's the first step to build this relationship?
(08:06):
So you talk about this architect, you talk about taking
this assessment, but what can I do right now as I'm listening to
this podcast? What are some things that I can
start putting into effect? Yeah.
That's a that's a great questionAnd you know, a lot there's the
terms are flying around all the time.
You know, work on your money mindset, work on your
relationship with money. And I used to say that too.
(08:27):
And then I realized my clients don't know how to do that.
You know they they don't know. You throw words around like we
should understand. I know, I know.
It's super crazy actually. I mean, you know, it it there
are terms in the financial industry in general that I think
nobody understands, but everybody's pretending they
understand and they don't reallydig in even, you know, basic
(08:49):
things like compound interest. You know, if we really
understood that and thought about it, looked at it for a
minute, we would all start so much earlier.
But as far as the money mindset,you know, it goes way beyond
doing affirmations. People, people say, you know,
OK, well, I have to think of myself as a wealthy person or
you think of myself in abundance, which is in fact part
(09:11):
of it. I mean, I'm not dismissing that
at all. But there's so much more to it.
And everybody is so unique and individual in this realm.
I have this assessment, but it'sreally just to help like
highlight some some ideas for yourself and then to really dig
in and your beliefs come from early your early life.
(09:33):
What's your parents did around money?
Did they talk about it? Did they fight about it?
Did they never mention it? Like, you know, what kind of
household did you grow up in? What was your, you know, your
religious affiliation? What were they influencing you
about with money? What?
You know, there's a lot of people who really value taking
(09:55):
care of others, which might mean, you know, giving all your
money away to charity. And that's more noble than
actually making money and putting it.
You have to really go back in time and think about, you know,
over my lifetime, what what's what's been happening with
money? First of all, you know, have I
gotten myself in debt too many times?
(10:15):
Have I, you know, what have I been doing?
What's my money, history and. Then what's my money cycle that
I keep finding myself going through?
Absolutely. Habits, yeah.
Your, your, your beliefs and your thoughts create these ideas
and you act on them. And over time you've acted on
them so many times they just become habitual patterns that
you translate into. Like this is what you're
(10:37):
supposed to do, but it's really just what you do for or whatever
your reasoning is. It's not necessarily what you
should be doing, even though youkind of have taken that on as a
belief system. So we wanna really just tear
down our own belief systems and we wanna reevaluate who am I
with money? And we want to see too, You
(10:59):
know, you have to put yourself in like different scenarios and
think, I mean, if you're making $100,000 now, but you want to
make $1,000,000, try to put yourself in that place and think
who, what would that $1,000,000 business owner be doing?
Where would she be speaking? Where would she be living?
Who would she be interacting with?
You know, what would she be doing with her money?
I think the first thing is just to really gain a deeper
(11:23):
awareness because that's where the light bulb starts going off
and you start seeing, oh, I've, I've done that like 5 Times Now
and over the course of my life and it hasn't worked for me.
And you know why have you? It's really an analysis.
I, I feel like in a way, there'sa little bit of financial
therapy that needs to happen and, and then from there you can
(11:43):
start to take actions. And in my, the way I'd see it is
you have to start believing different things.
So first you have to understand what you were believing.
Then you have to try believing. And that's not easy to do.
I mean, changing beliefs is a long, slow process,
unfortunately. And then you have to stay on it
and practice just like you wouldat the gym.
(12:04):
It's not something that it's a process.
So basic, go ahead. No, you go ahead.
So what I'm hearing basically for our audience that's
listening in. So if you're, I'm asking, you
know, what's a tangible action for them to take, it really is
get the assessment. We'll talk a little bit more
about that towards the end of the episode, how to get on to
that. But also to do that self
evaluation, like sit down and actually write down what is your
(12:28):
money story, right? Like what do you believe in my
money? Do you have you ever heard, and
we hear this all the time and like, has money grown on money
doesn't grow on trees? We can't afford that.
If you've heard things like of that, are you repeating that in
your own cycle? And I'm just kind of things that
I've heard growing up. Definitely heard money didn't
grow on trees. I'm a child of 6.
(12:49):
So money doesn't grow on trees we can't afford.
That was one I heard all the time.
And so you learn you kind of you, you adjust and learn those
habits too. And then to unlearn them to say,
I can't afford that, then start asking the question, how can I
afford that? Right.
(13:10):
So I think the first thing for listeners is really start
reflecting what your life is around money.
That's what Michelle said. Take an assessment.
Know what you're dealing with with.
(13:36):
Has there ever been a conversation or a statement that
you've made to a client or to anentrepreneur that had them stop,
think and go, holy crap, did shereally say that?
Well, yes, there been there beena few, but the first one that
(13:56):
pops in my mind is how much people don't think about
profitability if you're a business owner.
So there's a lot of, Oh my gosh,I made $1,000,000 this year.
I'm so excited. But in the end they spent
1,000,001, you know, and so it'snot, it's not something to be
(14:17):
excited about actually, I'm so. Glad you brought that up.
Say that again. Yeah, it's the idea of looking
at, you know, we're really kind of trained to like have to grow,
have to build revenue. And so we're that metric is what
we're so focused on. And honestly, you know, it's
cool, but if you made 500,000 and spent, you know, 100,000 on
(14:38):
your business, you'd actually beso much better off.
And so we don't, we're not trying to think about
profitability. And I think again, it comes down
to mindset that's complicated. Revenue is 1 number.
You can just track it and watch it grow to drop watch it.
But it's very simplistic. Profitability means you actually
have to understand your PLS, Youhave to understand, you know,
(15:01):
you have to actually be looking at expenses, which frankly,
nobody, including myself, likes looking at if.
I don't look at it. They'll go away, right?
Yes, and that's a mindset that alot more women have than men.
This is a a big difference is women think it's complicated and
they can't do it. I'm not going to understand it.
I'm not good at math. One of the silliest things
(15:22):
people say. I don't.
Understand why women say that attraction.
You know, and I said that once to my mathematician sister who's
got a PhD and brilliant in math,and she just looked at me like,
this is a math, this is arithmetic.
And so I never forgot that, and I adjusted accordingly.
But it's true. It's not so complicated.
(15:44):
But that's the piece that women are like, I can't do it.
I'll have somebody else do it and they just sort of, even if
they have a bookkeeper or somebody doing their P&L's every
month, they don't really spend alot of time looking at it.
Your money. Them blinders.
Yes, and your money tells a whole story about your business
that nobody else is telling you.And if you don't pay attention
(16:05):
to it, it can you know, you've got the data to know different
things to do in your business. And you know, I, I know that
you, I was listening to another one of your shows and my cash
flow. And of course, cash flow is the
queen of all of it. And if you, you have to figure
out how to cash flow and yeah. Yeah, it's so important and
(16:27):
you're talking about it is if weare not taught.
So a lot of us go from an employee mindset into an
entrepreneur mindset. This is part of that money
relationship. So as an employee, and I
remember this because I was there, we get a paycheck.
Yeah, taxes are taken out four O1, taking out health insurance,
taking out this. And so that check really just
becomes covering life expenses and setting some aside for
(16:50):
savings when we roll into. And this is exactly what I did
when I rolled into entrepreneurship and I got that
first, you know, $100. I was like, woohoo, $100.
I spent the $100, right, becauseit was $100 coming in.
I didn't have the framework thatyou're talking about to treat
that $100, that nothing's come out of that yet and that that
(17:13):
100 has a percentage breakdown. Some of it goes to profit, some
of it goes to my owner's comp, some of it goes to my taxes,
some of it goes, you know, it has a specific purpose.
But we don't teach that like youtalk about.
We don't teach business cash flow.
We don't teach business growth in terms of how financially it
looks. I have met more people than I
(17:33):
care to admit and I've coached more women and men and I care to
admit that, have literally built$1,000,000 businesses and like
you said, spent a million in oneto keep it up and running.
They're no better off. They're literally on the hamster
wheel of unsuccess on the outside.
They have all these accolades. Behind the scenes, the debt is
piling up and then we wonder whypeople go out of business.
(17:58):
Yeah, and the stress of that is really debilitating.
Tell me about it. You, you pretending it's not
happening, but you know that at the end of every month you're
worried about whether you can play pay payroll and you can do
that for sure, you know, and it again, it becomes a habit and
you just assume, you know, maybeyou've heard this from small
(18:20):
business owners, but it gets pretty defeating.
And then the message in your mind and the belief system
becomes this, you know, it's always going to be like this.
As an entrepreneur, I have to work too hard for too little,
which is not the reason people go into entrepreneurship.
I mean, it's quite the opposite.So but they find that and then
they just believe this is what it is, which I think we do with,
(18:41):
with all things, you know, if we're having a bad period, we
just talk ourselves into this ishow it is for me.
I'm not one of those people who's going to be rich.
I'm not going to be, you know, it's always going to be a
struggle for me. That's a huge mindset, yeah.
Is it true? Well, it's a struggle in this
moment, but it doesn't need to stay that way.
Yeah, it's not your whole purpose.
I always say there's always a blimp, right?
(19:03):
It's like it's a moment. It's like you're in this place
for a moment. You created it.
And you can also get yourself out of it if you so choose.
It doesn't define the rest of your life.
Well, you just hit on one of thebiggest mindsets, I think is
that you do create your life andthere is a mindset out there
that the world is creating your life.
You know the markets, the economy, you know other people.
(19:26):
It's. Never you News media wants you
to believe that. Everybody wants you to believe
that really. And I mean that is a whole other
conversation as to why, but I, Ireally do feel that mindset that
I am a creator or Co creator depending on your belief system
of my life. And I have to stop and see
what's happening and re recreatejust like you do with your
(19:48):
products and services. But we don't, we do all these
things in so many, we do it withour kids, we do it in so many
places. And yet back to the beginning,
because our we don't recognize our money as a relationship that
we're in, that one just gets neglected.
Like we don't go there with that.
We don't read. I mean, gosh, if our kids are
having problems, we are just like on it like glue until it's
(20:10):
fixed. But her money problems, we feel
like we have no control. So I have a question that just
kind of popped into my head for this one.
And I know this is probably off topic, but I wonder because I
was thinking to myself, maybe I should open up my business bank
account and have a conversation with my money in my bank
account. Like so how are you today?
Like she's laughing and I probably think this is probably
one of the best ideas that I'm sitting here as I'm talking with
(20:31):
you. But I feel like that would be
something that even right now somebody could go in and say,
OK, let's have a real honest conversation with your bank
account. Like open it up and start
talking to the inanimate number that's there because it has and
it's it is charged and and has an emotion for you that you're
literally talking to everyday. Oh my gosh, I love them.
I can't tell you how much I lovethat.
(20:52):
I mean, because there's this energetic component with money
as well as as there is, I think with everything.
So that kind of, you know, I've really gone from sort of a very
practical financial person to a very woo woo financial person,
but. Thank you for that because it is
woo. Money is energy.
It is literally a digital footprint that we are now
working with and like. It moves as an energy, it
(21:16):
attracts, it repels, it does everything you want it to do
based on how you feel about it. Yes.
And even if you don't truly understand that, again, we're
dealing with concepts that are kind of weird and different and
we're not used to them. But if you just sort of force
that a little bit, things start happening, which we call
evidence. And then you start seeing and
(21:37):
it's like, Oh my gosh, I was hoping for this and I was, you
know, journaling on this or praying on this or whatever it
is. And suddenly it showed up.
And that's when you realize there is this energetic
connection. And you're right, talking to
your business bank account or any bank account is a great
talking to your money, treating it like you're in relationship,
(21:59):
paying attention to it, actuallyinteracting with it.
And another, you know, thing that that you're making me
realize that needs to be said isour self talk around money is
super crappy. I mean, if you do nothing, you
know, this is a tangible thing, but if you just take notes for a
week, what am I saying about money?
(22:21):
Oh, I can't afford this. I, you know, I'm, I'll never be
able to do this. I'm not good at this.
Whatever it is, it might not even be about money.
It might be about sales, it might be about budgeting.
It might be about anything, but you can see that what you're
saying to yourself is like what you're saying.
It's almost what you're saying to your money.
Yeah, your money energetically is getting this anyway, whether
(22:42):
you. Yeah, you know, so.
Consciously or subconsciously, yes.
And, you know, you brought up writing a money story, and I
think that's a brilliant idea. And one of the exercises I do
with clients is to have you write a letter to your money.
And so you write this letter andyou just sort of stream of
consciousness express yourself to your money.
(23:04):
What do you want from it? You know, how do you feel about
it? And then the the more
interesting part is you have your money write a letter to
you. So your money is that speaking
to you saying, you know, dear Katrina, I really, you know, I
love being your money, but I kind of wish that you know, this
and that were happy. It's you feel like you're not
(23:25):
going to be able to do it, and then you start writing and it's
like the floodgates open and youhave so much that money wants to
say to you. It's very interesting.
OK, I'm challenging all my listeners to take up that
challenge and then let us know in the comments anywhere you
guys are listening to this. If you took, if you've taken
that on, have your money write you a letter, be the author of
(23:48):
money to yourself. I'd be super curious what you
uncover for yourself. Yeah, it's pretty interesting.
I did the first time. I'm like, my poor money wants to
be treated differently. So anyway, but they gave me some
ideas on how to do that. Yeah, and then if you get stuck
around this, then reach out to Michelle and say, hey, Michelle,
I need help with this. How do I have this conversation
(24:09):
with my money? Like this is where she's an
expert on this one. So what is one thing as you wrap
up the show, what's one thing that you want to leave women
with? Like if you because of the
majority of the female audience,what was one thing you'd like
them to really look at as a business owner, as an
entrepreneur? I feel like if you're looking at
(24:30):
your relationship with money, well, first of all, make a
decision to start looking at it because if you've never done
that before, it's, it's very important.
Your emotional, well, your decisions are based on emotion.
So you're, I mean, just like in marketing, we all know that for
marketing, but the decisions, the, the things that you decide
to do with money, whether it's hiring a person or investing in
(24:53):
something, it's all emotional. So you have to understand the
emotional psychological part of it.
And there are a lot of people out there teaching money
mindset, which is great. But what?
And I do think that's probably the highest priority to start
working on that. But along with that, you have to
take action and you have to takesmart actions, you know?
(25:14):
And so you have to be able to stop yourself and say, OK, my
emotional side is saying, do this and then step away and sort
of look at yourself like you're a rat in an experiment and
detach yourself from your own emotion and say, is that really
a smart move? What could I do?
You know, ask yourself these things to bring your conscious
(25:36):
mind into the decision making versus this unconscious
emotional side, but also take action.
You know, I don't believe mindset alone is going to do it
for you. And I don't believe just
practical financial knowledge isgoing to do.
I think they have to be married.I think, you know, the belief
system shifts the action. Consequently, the actions are
going to shift anyway. But but take action because as
(25:57):
you take action, you reinforce this new money mindset.
If if you, you know, want to be a saver and you're not and
you're always telling yourself, I don't save, I can't save, I've
never saved. And then you even start saving
$10 a month, your new identity is you're a saver now you can't
say I don't save, you know, savewhat maybe you want to be
saving, but so there's identity shifting as well.
(26:19):
That will help get bring momentum to this new
relationship with money. So powerful and ladies that are
listening and the gentleman too,definitely reach out to Michelle
because I think this there is a blend.
Like you cannot just say money is just mindset.
You can't say money is just one way.
It is a holistic approach to business and it encompasses so
(26:41):
much more. It's it's a literally a
foundational education piece that is often and most likely
neglected. We focus on everything else but
how we treat the money that's coming into our business.
So let's talk about this assessment.
Can you share about this? You said there were 7
personalities around this, so let's give a little bit of that
(27:02):
one for our listeners to dive into just to learn a little bit
more about themselves. Sure.
Thank you. Yeah, there's 8 archetypes.
It's based on Carl Jung originalsort of assessment archetype
look at things. And so basically it's just
models of behavior that people have fallen into.
And so of these archetypes, you'll have certain strengths,
(27:24):
you'll have certain gifts and you'll have certain challenges
as a result of these. So you know, you want to
leverage your strengths, you want to be super aware of that.
Sometimes we're not that aware and and then you want to work on
these challenges. And so, you know, there's
methods to do that with within this assessment.
And yes, so I find it a great starting point.
(27:45):
It's not gonna completely changeyour mindset.
It's gonna build the awareness that you need to start figuring
out what you might want to change.
And if they're looking for that change, they get to reach out to
you. Yes.
So I have a happy to offer to your listeners a crack at doing
the assessment so I can send theassessment digitally to you.
(28:05):
You can do it. You can send me the results and
then I will record my own kind of consultation on this and and
give you the, you know, the breakdown of the analysis and,
and some ideas for how you coulduse this information and what
you could do with it. Yeah, and then you can work with
Michelle and find out how to dive deeper into understanding
money because honestly, we all, as women need to be doing more
(28:28):
around our money, understanding how it works.
We own and control more discretionary income than the
males do. We have more buying power at our
fingertips than we realize. We have the ability to close
down companies, rewrite history,do so much.
If you just understood how moneyworks in your relationship with
money. So Michelle, thank you so much
(28:50):
for hanging out with us here on Did She Really Say That and the
extraordinary business you're building.
So thank you for this. Thank you.
You're a delight and I love yourpodcast and I'm so happy to have
met you. And I think you're doing amazing
work out there in the world. So I really appreciate that and
I appreciate you allowing me to join you today.
Absolutely. So everybody that's listening,
(29:13):
show notes wherever you're at, whether you're watching us on
YouTube, through our podcast syndications, even on our
website, follow Michelle, connect with her, take that
assessment. These are tools that are gifts
to you. Whether you take advantage of
them or not is up to you. But I do highly encourage you,
for every guest that we bring on, there is a nugget of
information that can totally transform your life.
(29:35):
It's up to you to take action todiscover that nugget for
yourself, as we do in every episode of Did She Really Say
That? Thank you for Michelle, for
joining us and for all of our listeners.
We will see you on our next episode.