EP 163: Getting your Power Back through Managing your Personal Finances with Jennifer Mayer

In this episode, Kimberly and Jen discuss financial planning and making financial decisions such as investing, budgeting, managing debt, saving for emergency funds and retirement. With recent inflation and a possible upcoming recession in addition to ethics of equity, many feel overwhelmed by their personal finances moving them into a state of freeze. Jen provides practical steps towards mapping out a budget, paying off high-interest debt, and creating savings. Jen also discusses how she works with clients individually and her upcoming 12 week financial planning program for entrepreneurs.

Bio

Jen Mayer is a Brooklyn-based mother of two, financial counselor, and former doula with a vast background in the wellness industry. She currently works with clients by offering non-judgemental financial counseling such as paying down debt, planning for retirement, in addition to other major life changes such as starting a business or having a child. Jen can be contacted through her Instagram and website linked below.

What She Shares:

–Inflation and the current US market

–Overwhelming debt

–Saving, investing and emergency funds

–Shame and freeze around finances

–Profit Foundations 12 week financial planning course

What You'll Hear:

–Transition from doula work and agency to finance

–Personal finance counselor and coach

–Debt management, financial foundations, retirement, savings, and more

–Non-judgemental support, shame around finance

–Advocacy in finance

–Offered free counseling sessions

–Financial trauma and shame

–Navigating ideals around money and real-world contexts

–Retirement needs within the US

–Anti-capitalism and individual preferences and comfort around money

–Investing, owning and other decisions around money

–Emergency funds for 3-6 months living expenses

–Distinction between savings and hoarding

–Saving with a plan instead of hoarding

–Cash losing value from inflation

–Stock market depreciating

–Possible upcoming recession

–Uncertainty around current economy

–Investments waiting for financial rebound

–High interest debt over 6-7%

–Opportunity for investments

–Paying off debt as rates go up

–Ambivalence around entrepreneurship

–Fixed expenses, variable expenses, debt and savings

–More leeway in increasing income versus cutting spending

–Managing massive amounts of debt

–Nervous system responses to debt

–Aggressive strategies for more financial freedom

–Debt as morally neutral

–Having witnessing and accountability to personal finances

–Getting a personal banker and an advisor

–Understanding different roles of financial professionals

–Profit Foundations: 12 week financial program

–Self-employment finances

–Program for personal finances, business projections, tax strategy and retirement

–Benefits of one-to-one sessions versus group program

–Investing and saving while paying off debt

–High interest and low interest debt

–Investment growth and debt compounds

–Invest in traditional retirement account to lower student loan debt

–Women having personal accounts while married and partnered

Resources

Website:www.fullyfundedx40weeks.com

IG: @fullyfundedx40weeks @jennyleighmayer