Episode 6: Starting Over Wealth Lessons for our Children

What can we teach our children that will impact generations to come through our starting over journey?

“Let's get creative.” In this episode, Katie Gibson shares a powerful message shared from her mother, a woman who was starting over, who arrived at a bank completely, almost wiped clean. As a Podcast Host & owner of Gibbons Financial Consulting, Katie Gibson helps women manage their money so they can gain clarity and peace of mind.

Check out more about Katie at www.unmaskmoney.com and connect with her at www.instagram.com/katiegibbons.co.

From observing her mother’s starting over journey, Katie shares how her single mother was able to teach her kids financial literacy by getting creative, learning how to manage money with what they had. This has taught Katie lifelong lessons that now she shares with other people. Sometimes in our starting journeys, we feel devastated. We feel lost, but we can also stand back up on our own two feet mentally, emotionally, and financially and starting over our wealth for generations to come. Just like Katie's mother, your identities are gonna constantly change, but who you are at the core never changes. When she walked into that bank, she was one woman. When she walked out, she was another. She taught her children how to never feel poor.

Ready to feel the same? Join us at www.Startingoverwealth.com and join our community!

Timestamps

• Impact of being raised by a single mother [00:02:05] Tricia and Katie discuss the underrepresentation of women in finance and share personal experiences of being raised by single mothers.
• Importance of being financially prepared [00:06:11] Katie talks about the importance of being financially independent and prepared for any curveballs life may throw, based on her experience of being raised by a single mother.
• The Value of Money [00:09:23] Katie shares her experience of growing up with a single mother who had to make every penny stretch, and how it taught her the value of money.
• Importance of Open Communication [00:11:47] Tricia and Katie discuss the importance of having open communication with children about money, without making it a negative impact.
• Individual Budgeting [00:17:20] Katie talks about how her mother wrote down her expenses and budget on a piece of paper every month, and how it taught her the importance of individual budgeting.
• Importance of facing financial fears [00:18:44] Tricia and Katie discuss the importance of facing financial fears as a single mother and how it can impact their children's future.
• Money stress affects everyone [00:21:39] Katie shares her experience of working with high net worth clients and how even wealthy people have money stress and anxiety.
• Separating identity from money [00:25:54] Tricia and Katie talk about the importance of separating one's identity from money and how it can limit one's potential. They also discuss the need for open communication about money in relationships.
• Importance of Financial Literacy [00:27:31] Katie and Tricia discuss the importance of financial literacy for women and how it can give them confidence in relationships.
• The Checklist for Relationships [00:29:32] Katie and Tricia talk about the importance of having a checklist for relationships, including financial stability, but also the need to not lose sight of other important aspects.
• Helping Couples with Finances [00:34:38] Katie shares her journey of becoming a financial coach for couples and how she helps them navigate the intimate and often shameful topic of money.
• Financial Independence and Preparedness [00:36:30] Katie shares her experience of banking for single women and the importance of being financially independent and prepared for