Chelsea Williams: Personal Finance for Lawyers

Jun 27, 2024

28:34

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In this episode, Steve Fretzin and Chelsea Williams discuss:

Why personal finance is so key to living a healthy, balanced life.
The formulas for success at your firm and as an individual.
The most common mistakes lawyers make around money.
Tips for taking control of your money today.
How to stay on top of your finances.

Key Takeaways:

Watch out for lifestyle creep. It doesn’t matter how much you make if you keep spending more than you bring in.
Track your money. Having a personal budget is not restricting, it is setting a financial boundary.
There are only two ways to change how much money you spend: you can trim the fat (even if it is just a rogue subscription) or through negotiating your expenses.
It is the small things that bite into your spending. The biggest takers are Amazon, software, and subscriptions.

"It doesn’t just stop at the money story, we have to hold all of our numbers accountable." — Chelsea Williams

Take the BE THAT LAWYER challenge at Fretzin.com/BTLChallenge!

Thank you to our Sponsors!

Get Staffed Up: https://getstaffedup.com/bethatlawyer/

Lawmatics: https://www.lawmatics.com/bethatlawyer/

Episode References:

Rocket Money: https://www.rocketmoney.com/
Profit First by Mike Michalowicz: https://mikemichalowicz.com/profit-first/
Justin Krane: https://www.linkedin.com/in/justinkrane/
Mindvalley: https://podcast.mindvalley.com/

About Chelsea Williams: Chelsea has invested ten years of expertise into understanding law firm finance in order to create a framework that any law firm owner can follow to achieve time and money freedom. She's uncovered the common mistakes and struggles law firm owners face that keep them from profitability. Her company partners with law firms to establish a solid financial foundation and works with them to build the framework that gets them to a place of financial clarity, direction, and freedom.

Connect with Chelsea Williams:

Instagram: https://www.instagram.com/the_money_whisper/

Website: https://www.yourcoresolution.com/

LinkedIn: https://www.linkedin.com/in/chelseamwilliams-themoneywhisperer/

LinkedIn: https://www.linkedin.com/company/core-solutions-group-inc/

Facebook: https://www.facebook.com/chelsea.zeschke

Facebook: https://www.facebook.com/yourcoresolution

Instagram: https://www.instagram.com/core_solutions_group/

Connect with Steve Fretzin:

LinkedIn: Steve Fretzin

Twitter: @stevefretzin

Instagram: @fretzinsteve