#68 - Leveling Up Your MONEY MINDSET ft. Stephanie McCullough
Let’s face it - there’s a lot of shame and blame around money! Particularly in our culture, and a lot of people have their opinions about what you “should” and “should not” spend your money on, how to feel about debt (credit card debt, in particular!), etc. There’s a lot of shit behind money…and that’s why I’m so pumped today to have Stephanie McCullough on the podcast today!
Stephanie McCullough is a financial advisor and founder of Sofia Financial. She’s passionate about helping women and millennials not just make smarter financial situations, but to create a safe space around money and help them find empowerment through their finances! This is no-holds barred conversation about every f’ing aspect of finances you can think of! Money stories and how they’re formed, shame and credit card debt, the 3 types of value we find in our purchases, how to identify leakages in your financial situation, approaching eliminating credit card debt, how to approach finances when you have inconsistent income, comparison and money, money and self-worth, ALL THE F’ING THINGS!
I almost hesitated to say this but, I believe it and mean it…if you listen to ANY podcast episode I’ve ever released…LET THIS BE IT!
WHAT WE TALK ABOUT…
Finding a career that you didn’t expect
The softer approach to money + how it’s such a personal subject
Uncovering money mindset + money stories from your youth
Shame + Credit Card Debt
Behavioral Finance + The Psychology Behind Why We’re Bad at Managing Money
The 3 Types of Value We Find in Things We Buy
Identifying your “leakages” so that you can better manage your money
Approaching money as a solopreneur or network marketing consultant
How to set-up your financial situation when you have inconsistent income coming in
Approaching eliminating Credit Card Debt - Any Progress is Progress!
How Can You Fulfill a Need Without Spending Money
Comparison + Money
Money + How We Attach Self-Worth To It
When Should You Hire a Financial Advisor?
quotes from this episode:
"MONEY TOUCHES ALL PARTS OF OUR LIVES. MONEY IS A EVERY PERSONAL SUBJECT. PEOPLE DON'T HAVE A SAFE PLACE TO TALK ABOUT IT..."
"WE'VE GOT THESE UNCONSCIOUS STORIES WE'RE TELLING OURSELVES ABOUT MONEY. AND IT'S OFTEN CONNECTED TO HOW WE WERE RAISED..."
“I THINK THERE’S VALUE TO DOING SOME OF THAT SELF-EXPLORATORY WORK…WHAT DID I SEE GROWING UP? WHAT SORT OF MESSAGES ABOUT MONEY DID I ABSORB + HOW ARE THEY AFFECTING MY BEHAVIORS TODAY?'“
“LOOK WITHOUT JUDGMENT AT YOUR SITUATION TODAY….ASK: WHERE AM I TODAY? AND WHAT AM I GOING TO DO LOOKING FORWARD?”
“WE GET A DOPAMINE HIT WHEN WE HIT ‘BUY’ ON AMAZON! AND THEN ANOTHER ONE WHEN THE BOX ARRIVES + WE OPEN IT!”
“THERE’S A LOT OF BRAIN SCIENCE - BEHAVIORAL FINANCE - THAT SHOWS THAT THE BRAIN IS WIRED TO BE BAD AT MONEY. AND I CAN SEE PEOPLE GO, ‘IT’S NOT A CHARACTER FLAW THAT I GOT INTO SOME CREDIT CARD DEBT?’ NO! THIS IS HOW WE ARE WIRED! AND THERE’S TONS OF RESEARCH BEHIND IT!”
“MONEY IS A TOOL! ESPECIALLY AS WOMEN…SO WHAT ARE THE TOP THINGS YOU WANT TO MAKE SURE THAT IT’S DOING FOR YOU?”
Resources in this episode:
Book a transformation call here
Check out the TAKE BACK YOUR LIFE Experience - click here!
more on stephanie mccullough…
Stephanie founded Sofia Financial in 2011 after 14 years as a financial advisor, with the goal to empower women to make wise financial decisions, address their areas of money stress, and free up their time and mental energy to spend on the things that are truly important. She believes that everyone, regardless of income level, deserves quality, objective advice and excellent service from caring professionals who really listen and are motivated solely by their clients’ success.
Before transitioning into financial services, Stephanie held a wide variety of jobs, including working at the U.S. Department of Commerce in Washington, DC; teaching people more than twice her age how to confidently handle a sailboat at the Annapolis Sailing School; and organizing stimulating educational events for high school students at the World Affairs Council of Philadelphia.
Stephanie is married and has two teenagers. She earned an M.A. in International Economics from the Johns Hopkins School of Advanced International Studies and a B.A. from Duke University.
Books and resources…
Financial Tools: Mint (for tracking expenses), Quicken (another tracker), NerdWallet (for researching financial comparisons), and Click Here to Download a Copy of the Sofia Financial Inventory Spreadsheet!
Books: “You Only Live Once”