TCC Podcast #287: How to Manage Finances, Pay off Debt, and Invest for the Future with Keina Newell

Keina Newell is our guest on the 287th episode of The Copywriter Club Podcast. Keina is a financial coach who helps professionals and solopreneurs with their money. With over $75,000 in student loan debt on a teacher’s salary, Keina knew she had to make a big change if she was ever going to achieve financial freedom. Whether you want to pay off debt, save and invest money, or a bit of all three, this episode will give you practical tips on doing just that. Here’s how the conversation goes: A career that is passion aligned but also helps you accomplish financial goals… real or myth? What is the purpose of money in our lives? How to backwards plan where you want to be financially. The steps to getting granular with your financial goals. Why you should pay yourself as an employee. 3 types of budgets and how to break them down. When to start building a financial system. An emergency fund for business vs personal. Taking a leap vs safety first: which are you? How to plan for expenses that come with being self employed. Where should we be investing when we DO have money to invest? How to create a money hell YES and a hell NO list. Why this one thing will impact your investment style. What about debt? Where does it fit into our financial plan? How to reframe your mindset around debt and change the money stories we grew up with. What it really means to charge less for your skills and how it will affect your future. 3 questions to ask yourself when deciding whether to cut down vs earn more. How to decide where your financial gap is. What to think about before hiring contractors. Why you need to start dating your money. Budgets – what’s that all about anyways? How to actually reach your financial goals. Financial tips for beginners – what are the first steps? How to start up money conversations with business partners. This episode is full of actionable steps to further our financial journeys, be sure to hit play or check out the transcript below. The people and stuff we mentioned on the show: The Copywriter Think Tank Copywriting Income Survey Kira’s website Rob’s website Keina's website The Copywriter Club Facebook Group The Copywriter Underground Sign up for Typeform Episode 110 Full Transcript: Kira: All right. Keina, let's kick this off with your story. How did you end up as a financial coach? Keina: I, I think my, my go-to answer is that God has a sense of humor, uh, which has been the theme my entire life, but I ultimately got into financial coaching because I was really looking at what did I enjoy doing? And one of the things that I really enjoyed was budgeting, and in my own personal story, um, I graduated college and with a lot of student loan debt. And in addition to having student loan debt, I actually joined Teach for America, which anyone who knows anything about teachers teaching is not like the highest-paid position in the world. And at that time, I was making probably like $30,000 a year and trying to figure out how could I actually do something that felt very passion-aligned but also be able to work towards buying a home, saving money and paying down student loan debt. So it was like through my own personal journey of budgeting and figuring out how to buy a house, how to make more money. And that progress over, over a decade, got me into the financial coaching space. Rob:  So as you've been coaching Keina and working with people on their own finances, where do you see the biggest opportunities or the starting point where we need to be thinking more about our finances? Keina:  I would say really knowing the purpose of money in your life. I always encourage people to think about when you're 80 years old, like, what do you wanna have achieved? And I think sometimes people think it's like a silly question, but I don't think that we actually kind of press pause to think about why are we doin...