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Profit Boss® Radio | Women and Money | Financial Planning | Money Psychology | Personal Finance | Couples and Money

Profit Boss® Radio highlights inspiring women who have created success in their financial and professional life. Each week you can tune in and hear how women just like you have paved the road to sustained success with both beliefs and actions. We’re questioning the old taboos that keep us quiet about money and are gearing up our campaign to empower a million women to become millionaires. Your Host, Hilary Hendershott, MBA and Certified Financial Advisor, is the Founder & Chief Advisor at of Hilary Hendershott Financial. Hilary is a financial coach, money mindset expert, and experienced wealth manager. She has worked for nearly 15 years with people who want to preserve their wealth, make it grow, and eliminate financial stress once and for all.
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Now displaying: February, 2018
Feb 27, 2018

We all know that real estate is a worthy investment, and on your path to financial freedom, you will likely enter into the complex process of selling or buying a home. When it comes to real estate, knowledge is power. That being said, very few sellers or buyers are actually doing their homework. We are also battling cognitive biases that will lead us down a dangerous path if we aren’t careful. That is why I am so glad to have my guest, Aaron Hendon on the show today. Aaron is an award-winning, Seattle-based Realtor who is on a mission to educate buyers about the real estate process. His book, Shortchanged by Shortcuts? 44 Surprising Ways People Rip Themselves Off When Buying Or Selling Their Home outlines the common pitfalls we tend to fall into when buying and selling real estate. 

You need to understand the transaction process in order to make the most out of real estate. When you think about choosing a Realtor, do you think about interviewing them as you would when hiring an employee? How do you know if your agent has your interests in mind? Is there such a thing as a discount broker? Aaron will answer these questions while busting a few real estate myths in today's informative episode. We will discuss the ways you can become a savvy home buyer and a confident home seller. A home is an enormous investment, and like all financial decisions, you want to be informed before you make your choice. Aaron is going to ensure that all ProfitBoss listeners stop making common real estate mistakes so they can start investing wisely. 

 

What you will learn: 

•    Aaron is not trying to become a behavioral economist, but understanding the choices we make is still very important. 

•    How to understand cognitive bias. 

•    Aaron will teach you how to interview a Realtor. 

•    What you should do first when you want to sell your home. 

•    Why it is important to verify information your Realtors give you. 

•    How to think about the costs of selling a house and the merits of using an agent. 

•    The buyer is paying for the commission. 

•    It is critical to set the price of the home without the emotional weight of history. 

•    Aaron teaches us how to evaluate markets to compare the pricing of your house. 

•    How to consider all kinds of offers and how a good Realtor helps you navigate them. 

•    Understanding the asymmetry of information in the deal.

 

Links Mentioned

https://www.rationalrealestate.pro/book

Shortchanged by Shortcuts? 44 Surprising Ways People Rip Themselves Off When Buying Or Selling Their Home 

 

Feb 20, 2018

There can never be any secrets in money. Today, I have an amazing and compelling interview with Janet Lombardi, author of Bankruptcy: A Love Story. In 2007, Janet called her financial advisor for a routine check-in because she hadn’t received her annual statements in the mail yet. What her financial advisor told her changed everything: He said, “The accounts are empty. Get an accountant, get an attorney, and get a private detective.” This is Janet’s account of the financial fallout that resulted from her husband’s secret money mistakes. 

 

I am thankful that Janet is willing to tell her story openly and honestly with the Profit Boss Radio audience. As you might have already guessed, the road to recovery was not an easy one. Janet is just as willing to offer up the lessons she has learned, as well as her own culpability in the situation. Janet had to do her homework. She was no longer able to deny the hard truths about money. What she found on the other end was a sense of empowerment and confidence when it comes to finances. I think her story will be inspiring to women who have always just referred to their husbands to handle finances. Knowledge really is power, especially when it comes to money. 

 

Listen this week as Janet shares how she pieced together her life from bank statements and hidden documents. As a result, she’s a bit of a source on personal finance! Sometimes, the most difficult and complex situations lead to the simplest conclusions. Know where your money is, and use it well!   

 

What You Will Learn In This Episode

  • How September 11th impacted the world, but also her husband. 
  • Janet’s husband was struggling with addiction which intensified after the events of 9/11
  • Janet was not having a shining moment in her life during the crisis point in her marriage. 
  • What happened when Janet knew her accounts had been drained. 
  • Janet had a very complex financial life, and she had to do the hard work of piecing together her husband’s money mistakes. 
  • As more and more devastation was revealed, Janet was still trying to reconcile all the heartbreak in her marriage. 
  • Through it all, Janet grew to understand herself better than ever before. 
  • Janet created a “Punch List” of things she needed to do to get out of debt. 
  • The keys to a financial rebound, and habits anyone can use to come back from a setback. 
  • How to find freedom through practicality. 

 

 

Resources

Janet Online 

www.janetlombardi.com

 

Debter’s Anonymous 

 

Progrexion

 

Ignite Investing

www.igniteinvesting.com

 

Bankruptcy, A Love Story by Janet Lombardi 

 

Feb 13, 2018

One of the biggest steps we have to take on our journey to financial freedom is to decrease the burden of debt. Paying minimums can delay immediate problems, but debts can pile up quickly and might cause you to miss out on some of your dreams. I am bringing you a story today of a listener who found herself in considerable debt but was determined for it not to ruin her relationship or put a dent in her career goals. This is the story of Beck, a listener and member of the ProfitBoss community who worked hard and has had a huge financial turnaround. It just about a year and a half, Beck went from debt to wealth in a major way. 

 

Beck started out her early adulthood with some damaged perceptions around money. Her father made some serious money mistakes but always tried to create a comfortable lifestyle for his family. Beck initially wanted to present an image of wealth and prosperity, even though she was paying for her lifestyle in credit. She was aware this was a problem but was unmotivated to take the drastic steps needed to get out of thousands of dollars of debt. When she started a relationship with her future husband and the pair moved to New York for work, Beck's debt could no longer be ignored.

 

Listen this week to find out how Beck got out of debt, learned to be a saver, and built up her confidence around money matters. She is proof that honesty about our financial situation has a massive positive impact on our relationships. Though she wanted to be perceived in a certain way, Beck now understands that her former life just didn’t hold up with reality. Now, her lifestyle is supported by her means, and she enjoys her wealth without money becoming her master. If Beck’s story resonates with you, I think this episode will be of particular encouragement to you. Beck is proof that when we steward our wealth well, we can be more prosperous than we could ever imagine! 

 

What You Will Learn in This Episode:

 

  • How Beck knew she had a financial problem and her state of mind in that time. 
  • Why Beck tried to put on the image of success. 
  • All the emotions and inherent beliefs that Beck had to battle. 
  • Childhood has such a huge impact on how we treat money. Beck’s was especially unusual due to mistakes on her dad’s part. 
  • Beck hated money because she felt like it caused suffering. 
  • Why chronic over-spending felt the way for Beck to live her life to the fullest. 
  • Good income doesn’t necessarily equal wealth. 
  • Learn Beck’s lowest low, and why that was such a wakeup call for her. 
  • How Beck got a payday loan. 
  • Beck’s relationship with her future husband was the catalyst for her financial freedom. 
  • Even though she tried to do all the right things after a move to New York, ends were still not being met. 
  • How Beck’s mental habits have shifted since she learned so much about personal finance. 
  • Beck and her husband automated their savings and planned ahead more than ever before. 
  • Now, Beck is saving and investing by making smart choices with her money. 
  • How you can go so far towards having a significant net worth after accruing so much   debt.
Feb 6, 2018

Forming a healthy relationship to our finances is all about taking small steps towards our ultimate financial goals. No matter your income, I believe you have the capability to find financial freedom. If you are looking for a little financial peace today, then you are going to love my conversation with Rachel Cruz! Rachel has a down-to-earth, practical perspective on finances that comes from an early exposure to money management skills. That’s right, Rachel’s dad is the one and only Dave Ramsey, who revolutionized the world of personal finance for so many of us! 

 

Growing up with Dave Ramsey, you might think that Rachel spent her days filling in spreadsheets and planning mutual funds, but she assures me that isn’t the case. Instead, Rachel grew up with a healthy relationship with her finances and a desire to share that knowledge with others. Rachel has a natural love of public speaking, and even when she was still a child herself, she was sharing what she knew with those around her. Today, Rachel has published not one, but two bestselling finance books. She is teaching women all across the world how to be wise with their money and live financially free. It’s not just about getting out of debt, though that is important! Rachel focuses on easy steps that you can take to make wise decisions with your funds. 

 

Today, Rachel is going to give us an overview of her Love Your Life, Not Theirs: 7 Money Habits to Change Your Life. When you develop these habits, you will create for you and your family a sense of financial freedom like never before. These tools really work! 

 

Show Highlights:

  • Rachel shares how she got started in the “family business” of personal finance. 
  • How to package the message of financial responsibility for a younger audience. 
  • Money was often talked about as a family in the Ramsey household. 
  • The tools that you can use to have practical conversations with your kids. 
  • Rachel talks about the inspiration behind her book. 
  • How to manage your social media emotional drain. 
  • Rachel shares her perspective on buying cars and paying off debt. 
  • Make a plan for your money! Give every dollar a job. 
  • How to make an emergency fund. 
  • Tackle your financial plan with your spouse and get vulnerable. 
  • Get the order of operations as far as your savings go. 
  • Using cash is instant accountability. 
  • Sleep on it! Think before you spend. 

 

Resources:

Rachel's Website

Love Your Life, Not Theirs by Rachel Cruze 

 

Enter the Book Giveaway:

To be eligible to win you need to complete the following steps:

 

  1. Enter to win using this link: https://1.shortstack.com/rclRkn
  2. Share Episode 95 with your Facebook friends by posting this link: https://www.hilaryhendershott.com/95 and using the hashtag #loveyourlifeXprofitbossradio in your post
  3. Sign up for the Profit Boss® Weekly using this link: https://hilaryhendershottfinancial.activehosted.com/f/76https://hilaryhendershottfinancial.activehosted.com/f/76 

 

Good luck, Profit Boss!  

 

 

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