Think Like A CFO Podcast

The Millennial Money Woman

November 23, 2020 Melissa Houston / The Millennial Money Woman Episode 10
Think Like A CFO Podcast
The Millennial Money Woman
Chapters
2:02
Introducing Fiona
4:53
The world of finance is male-dominated — but shouldn’t be!
6:09
Managing money is as important as making it
7:28
You must go out of your way to become financially literate
8:29
America v Canada: student loan debt
9:22
Make finance fun with The Millennial Money Woman
11:57
Personal finance is personal, so understand your scenario
12:24
What should YOU do with $1000?
14:22
Your savings fund rule of thumb
16:29
Two ways to invest
21:28
The joys of index funds
25:38
The ‘Set It & Forget It’ mindset
27:45
Become a millionaire on less than $10 a day
32:38
Fiona’s #1 takeaway
Think Like A CFO Podcast
The Millennial Money Woman
Nov 23, 2020 Episode 10
Melissa Houston / The Millennial Money Woman

“Quite frankly, the world of finance is like a second language. I mean, I didn’t understand anything.” - Fiona

Personal finance can be incredibly daunting, but understanding your numbers can yield amazing results. My guest for this episode is The Millennial Money Woman, also known as Fiona. She’s nurtured a passion for finance since her preteen years — while she knew that she loved the idea of money management, she didn’t quite have the grasp on it that she wanted, as financial literacy is something that we need to deliberately seek out in our society. 

And seek it out she did!

After graduating with a Masters of Science in personal financial planning (as the only woman in her program), she is now the certified financial planner behind the The Millennial Money Woman website, dedicated to helping young professionals live abundant lives by making the right financial decisions now. She’s also the co-founder of a non-profit that teaches millennials financial literacy.

“Let’s be real here — money is really one of the few things that makes the world go round,” Fiona says. “If you really don’t know that much about money … there’s a problem! Because there’s so much more possibility and opportunity out there for you to make a better life!” Fiona is living proof — she bought her first house at the age of 23 and is on track to hit millionaire status in a few years. She wants her readers to achieve similar results, and I’m right there with her!

In this episode, she and I discuss the difference between earning wealth and managing it. You could have a $300,000/year income … and still be broke. As Fiona advises, “You earn wealth by retaining money, not by just earning it.” There are many ways to manage your money, and we break down a number of them through a hypothetical scenario involving a $1000 windfall. What would you do if you were handed $1000 right now? If you’re not sure, don’t worry. After this episode, you’ll have some fantastic ideas!

“If you’re not managing your money properly, you could be bringing in all the money in the world, but you could still be broke.” - Melissa Houston

In this episode, we’ll explore:

  • How to decide between saving and investing (based on your own personal situation)
  • Exactly what you can do with $1000 to maximize your return
  • Your primary options for investment, and the pros and cons of each — a great primer for beginners!

Highlights:

  • 00:44  Introducing Fiona
  • 03:35  The world of finance is male-dominated — but shouldn’t be!
  • 04:51  Managing money is as important as making it
  • 06:10  You must go out of your way to become financially literate
  • 07:11  America v Canada: student loan debt
  • 08:04  Make finance fun with The Millennial Money Woman  
  • 10:39  Personal finance is personal, so understand your scenario
  • 11:06  What should YOU do with $1000? 
  • 13:04  Your savings fund rule of thumb
  • 15:11  Two ways to invest
  • 20:10  The joys of index funds
  • 24:20  The ‘Set It & Forget It’ mindset
  • 26:27  Become a millionaire on less than $10 a day
  • 31:20  Fiona’s #1 takeaway

Links:

The Millennial Money Woman
https://themillennialmoneywoman.com/

The 4-Step Roadmap to Biz Finance Freedom

https://melissahoustoncpa.lpages.co/4-step-biz-finance-roadmap

Work with me

https://www.melissahoustoncpa.com/work-with-me

Want more tips and inspiration? Follow me on Twitter @melissahcpa and Pinterest @melissahoustoncpacga and visit my website:

Show Notes Chapter Markers

“Quite frankly, the world of finance is like a second language. I mean, I didn’t understand anything.” - Fiona

Personal finance can be incredibly daunting, but understanding your numbers can yield amazing results. My guest for this episode is The Millennial Money Woman, also known as Fiona. She’s nurtured a passion for finance since her preteen years — while she knew that she loved the idea of money management, she didn’t quite have the grasp on it that she wanted, as financial literacy is something that we need to deliberately seek out in our society. 

And seek it out she did!

After graduating with a Masters of Science in personal financial planning (as the only woman in her program), she is now the certified financial planner behind the The Millennial Money Woman website, dedicated to helping young professionals live abundant lives by making the right financial decisions now. She’s also the co-founder of a non-profit that teaches millennials financial literacy.

“Let’s be real here — money is really one of the few things that makes the world go round,” Fiona says. “If you really don’t know that much about money … there’s a problem! Because there’s so much more possibility and opportunity out there for you to make a better life!” Fiona is living proof — she bought her first house at the age of 23 and is on track to hit millionaire status in a few years. She wants her readers to achieve similar results, and I’m right there with her!

In this episode, she and I discuss the difference between earning wealth and managing it. You could have a $300,000/year income … and still be broke. As Fiona advises, “You earn wealth by retaining money, not by just earning it.” There are many ways to manage your money, and we break down a number of them through a hypothetical scenario involving a $1000 windfall. What would you do if you were handed $1000 right now? If you’re not sure, don’t worry. After this episode, you’ll have some fantastic ideas!

“If you’re not managing your money properly, you could be bringing in all the money in the world, but you could still be broke.” - Melissa Houston

In this episode, we’ll explore:

  • How to decide between saving and investing (based on your own personal situation)
  • Exactly what you can do with $1000 to maximize your return
  • Your primary options for investment, and the pros and cons of each — a great primer for beginners!

Highlights:

  • 00:44  Introducing Fiona
  • 03:35  The world of finance is male-dominated — but shouldn’t be!
  • 04:51  Managing money is as important as making it
  • 06:10  You must go out of your way to become financially literate
  • 07:11  America v Canada: student loan debt
  • 08:04  Make finance fun with The Millennial Money Woman  
  • 10:39  Personal finance is personal, so understand your scenario
  • 11:06  What should YOU do with $1000? 
  • 13:04  Your savings fund rule of thumb
  • 15:11  Two ways to invest
  • 20:10  The joys of index funds
  • 24:20  The ‘Set It & Forget It’ mindset
  • 26:27  Become a millionaire on less than $10 a day
  • 31:20  Fiona’s #1 takeaway

Links:

The Millennial Money Woman
https://themillennialmoneywoman.com/

The 4-Step Roadmap to Biz Finance Freedom

https://melissahoustoncpa.lpages.co/4-step-biz-finance-roadmap

Work with me

https://www.melissahoustoncpa.com/work-with-me

Want more tips and inspiration? Follow me on Twitter @melissahcpa and Pinterest @melissahoustoncpacga and visit my website:

Introducing Fiona
The world of finance is male-dominated — but shouldn’t be!
Managing money is as important as making it
You must go out of your way to become financially literate
America v Canada: student loan debt
Make finance fun with The Millennial Money Woman
Personal finance is personal, so understand your scenario
What should YOU do with $1000?
Your savings fund rule of thumb
Two ways to invest
The joys of index funds
The ‘Set It & Forget It’ mindset
Become a millionaire on less than $10 a day
Fiona’s #1 takeaway