Money Mindset and Education w/ MissBeHelpful Yanely Espinal (FMF #67)

Fifteen Minute Fridays episode #67 with Yanely Espinal.

Do you belong to the group of people who believe more money equals more problems and that money is the root of all evil? If so, you need to work on your money mindset.

In this episode, Yanely Espinal takes us through a money masterclass. Yanely shares her journey and expertise in helping people understand the importance of a healthy psychological relationship with money. From this episode, we learn the essence of having a positive money mindset, tracking our finances, and planning for the future.

Yanely Espinal is a passionate advocate for financial literacy, dedicating her life to reshaping the negative narratives surrounding money. Recognizing the pervasive influence of phrases like "more money, more problems" and "money doesn’t grow on trees," Yanely encourages individuals to confront their early money memories and traumas. She believes that understanding these formative experiences is essential to transforming one's financial mindset. As a fresh voice in the personal finance world, Yanely emphasizes the importance of aligning one’s mindset with their financial goals, confidently asserting, "If you don’t get your mind right, you can’t get your money right." Her mission is to inspire a more positive and empowering approach to money, enabling people to find opportunity and growth in their financial lives. She is also the author of Mind Your Money.

Quote of the Day:

“Do the best you can until you know better. Then when you know better, do better.” - Maya Angelou

Timestamp:

[01:12] Quote of the Day

[02:58] Yanely’s experience with money

[05:17] What is a P&L and why is it important?

[09:12] Why we all need to read Yanely’s book

[10:13] Look at your relationship with money through your money traumas

[13:56] Be realistic about yourself

[16:43] Don’t get so caught up with your business being a money-printing machine that you forget the future

[18:51] How can we support Yanely?

Yanely’s Book: Mind Your Money - www.amazon.com/Mind-Your-Money-Insightful-Strategies/dp/1544516541 

Website: www.mindyourmoneybook.com 

[20:25] Integration Assignment

Key Takeaways:  

• When you're making decisions, the most important way to make a decision is to use data. [07:49]

• If you never truly master or understand the psychology of your own money, your relationship with money, and your personal values around money, you risk diving straight into a business without navigating your personal finances. [08:52]

• “If you don't get your mind right, you can't get your money right.” - Yanely Espinal [13:03]

• You're not going to get a greater source of learning for your business than talking to a customer who was not satisfied. [21:43]

Integration Assignment: 

Step #1:Write down the name of one of your unhappy customers.

Step #2: Reach out to them for a conversation on how you could have served them better and learn from that

Keep In Touch with Yanely Espinal:

LinkedIn: https://www.linkedin.com/in/yanely-espinal-missbehelpful/ 

Website: https://www.mindyourmoneybook.com/ 

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

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