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Mo' Money Podcast | Personal Finance with Jessica Moorhouse

Award-winning blogger and podcast host Jessica Moorhouse interviews top personal finance & business experts like John Lee Dumas, Chris Guillebeau, Bruce Sellery, Preet Banerjee and Rob Carrick, as well as inspirational entrepreneurs, authors, bloggers, friends and family to help you learn how to manage your money better, make smarter choices, earn more money, become debt-free and live a more fulfilled and balanced life. New episodes air every Wednesday. For helpful resources, blog posts and podcast episode show notes, visit jessicamoorhouse.com. To enquire about being a guest on a future episode, visit jessicamoorhouse.com/podcastsubmissions.
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Mo' Money Podcast | Personal Finance with Jessica Moorhouse
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Now displaying: Category: personal finance
Dec 8, 2017

For my 4th Millennial Money Meetup (and my last one for 2017), I hosted the event once again in downtown Toronto selling out tickets in only a few weeks to 50 attendees. This event was sponsored by Manulife Bank (thank you for making this event possible during Financial Literacy Month) and featured the special guest Lisa Zamparo, a CPA and financial strategist. The theme for this event was debt and responsible credit card use, just in time for the holidays. This is the live recording of Lisa and I's discussion on the subject as well as audience Q&A.

For full episode show notes visit: https://jessicamoorhouse.com/137

Dec 7, 2017

For my season ending solo episode, I share my thoughts on making it to the one-year mark of entrepreneurship, what I’ve been up to & how I’ve grown these past 12 months

Long description:

To wrap up Season 5 of the Mo’ Money Podcast, I thought it would be a good opportunity to do another solo episode to share my reflection of the past year.

A ton has happened these past 12 months, so much so that even though I spewed my guts for 40 minutes in this episode, there was still so much I didn’t share. But I think my overall sentiments on the year got across.

To think back to where I was this time last year, honestly, it’s like night and day. This time last year I was stressed, burnt out, and frustrated. My life was going in a direction I didn’t like, and I knew the only way to get back on a path that felt right, I needed to make a drastic change.

Even though I thought I was prepared before quitting my job to work for myself, looking back I really was taking a huge risk. I didn’t have a business plan, I just had some ideas on how I’d make a living based on how I earned money with my side hustle (being my blog and podcast).

Throughout the year, I fleshed things out a bit more, got more focused (sort of), and now have 10 different streams of income. I definitely want to focus things more in 2018, pair down those streams of income to maybe 5, and increase my business revenue to 6-figures.

And two big ways I hope to accomplish this is by ramping up marketing and promotion of the Rich & Fit Bootcamp and launching my financial counselling practice.

Lots to look forward to in 2018, but before the New Year starts I’m just thankful of how 2017 went. I’m proud that I stayed strong, worked hard and proved to myself (any all the nay-sayers) that I could do this on my own.

Here’s to a New Year and endless possibilities!

For full episode show notes visit https://jessicamoorhouse.com/136

Dec 6, 2017

Don't think of want to earn more money as being greedy. Think of it as a way to help you help others. I talk about the idea that it's okay to be "money hungry" with the goal of being able to serve others and live your best life with blogger and podcaster Michelle Jackson of Michelle Is Money Hungry in this last podcast interview episode for Season 5 of the Mo' Money Podcast.

Long description: 

Before I recorded this episode, I’d only met Michelle Jackson from Michelle Is Money Hungry a few time at past FinCon conferences. But the few times we did meet, we immediately hit it off. Michelle just has a special energy and light that I couldn’t forget, and because she is all about earning money these days, and that’s what the theme for this season has been about, I knew she would make the perfect guest for my last interview for Season 5 of the show.

The reason I gave this episode the title “Making Life Changing Money” is because it’s one of the things Michelle mentioned at the start of this episode that I couldn’t stop thinking about. It’s just such a great way to express how I also view earning more money. I don’t want to earn more just so I can buy more stuff. I want to earn more so I can do more stuff, including continue to create free content like my blog, podcast and YouTube videos that aim to promote financial literacy. I want to earn more so I can live a life that is full and financially secure. I want to earn more so I can take care of me and my family, but also others who need my help too.

And that’s exactly how Michelle lives her life as a new entrepreneur. She wants to earn more so she can live her best life, but also so she can afford to help others live their best lives too. Throughout this season, I interviewed a lot of guests on how to earn more, but I think this final episode is a great way to cap things off by focusing on the why.

Make sure to check out Michelle’s website and feel free to reach out to her at michelleismoneyhungry@gmail.com.

For full episode show notes, visit https://jessicamoorhouse.com/135

Nov 30, 2017

I talk with Jesse Gernigin from LiveGoldRich about how we went from comedic hypnotist to freelance copywriter, how he learned to ask for his worth and how he budgets with a variable income.

Long description:

For this episode, I chat with Jesse Gernigin from LiveGoldRich and the founder of the Freelancer Success Summit.

He has a really interesting perspective on freelancing because he calls himself a bit of a serial entrepreneur. He started out as an entertainer, a comedic hypnotist to be specific, and then started a few other businesses after that, and eventually became a full-time freelance copywriter which now earns him a comfortable living.

In my experience, I’ve found that when people think of freelancers, they think of people who are always trying to drum up business, are undercutting other freelancers to win clients, and are always struggling a bit financially.

I have no idea where this perception comes from, but it’s something I used to believe before I started my side hustle and eventually became self-employed.

Well, after talking to Jesse, that doesn’t have to be the case. Sure, it may start out that way at the beginning of your freelance career, but you can build upon your experience and eventually reach a level where you can ask for higher rates and pick and choose which clients you want to work for.

And that’s a message Jesse really wants to share, which is why he created the Freelancer Success Summit. To interview and share the stories of other freelancers from all experience levels and disciplines.

You can save your seat and sign up to watch the presentations in the summit for free right now too!

Click here to sign up »

Learn More About Jesse

For full episode show notes, visit https://jessicamoorhouse.com/134

Nov 29, 2017

Retiring early isn't just for the privileged and doesn't have to be a daydream you refer at your 9 to 5 grind. You can actually retire if you have a plan to get you there, and Tanja from Our Next Life shares how her and her husband were able to do it.

Long description:

Ever since I connected with Tanja from Our Next Life about a year ago, I was waiting for the opportunity to have her on my show. But for most of the year she was an anonymous blogger. You see, she was waiting to reveal herself until she was able to hand in her notice at her job so her and her husband could retire early.

Well, she’s handed in her notice and is set to officially retire early this January. I know, I know, this sounds like a dream most of us have had while putting in those long hours at our day jobs. But what’s awesome about my interview with Tanja is she discusses how her and her husband were able to do it. And they didn’t go to any extremes to reach their goal. They didn’t sell all their things or sacrifice their present happiness and comfort to reach tomorrow’s goal of financial independence.

Besides sharing the steps she took to be able to retire early (in her 30s!), she also shares the book that inspired her to take this journey. It’s called How to Retire Early by Robert & Robin Charlton, and it’s a book she highly recommends if anyone wants to learn more about how to make a solid plan to retire early.

I know I’m definitely going to check it out, because achieving F.I.R.E. is definitely one of my new crazy big life goals! And if Tanja can do it, really anyone can do it!

Follow Tanja

For full episode show notes, visit https://jessicamoorhouse.com/133

Nov 23, 2017

Are you getting the most out of your credit cards? It might be time to take a good look at them and check to see if they are really the best on the market. Just take it from Stephen Weyman, blogger at HowtoSaveMoney.ca and founder of CreditCardGenius.ca who knows how to optimize your credit cards, get free trips using points and figuring out a great formula to see which cards need to be ditched and which cards you should consider replacing them with.

Long description:

If you’re curious how to get the most out of your credit cards, what the deal is with credit card churning, and how to protect and improve your credit score, this is the episode for you.

I talk to Stephen Weyman, the blogger behind How to Save Money and the founder of the new credit card comparison site CreditCardGenius.ca, all about credit cards and he definitely proves that he has a wealth of knowledge on the subject.

The fact that he was inspired to develop Credit Card Genius because he had a massive Excel spreadsheet of data on credit cards already just goes to show how passionate he is about credit cards. And I’m so glad because I feel like even though most of us use credit cards, a lot of us still don’t know some very important things about them.

Credit cards can be great to earn points and cash back, and they have a number of other benefits too. But, that’s only if you use them responsibly. If used irresponsibly, they can have some not so good outcomes like consumer debt, a low credit score and even bankruptcy. So, the best way to make sure you use them the right way is to be well-informed and I hope this episode succeeds in helping you get there.

Nov 22, 2017

What's your money mindset and how does it affect how you perceive building wealth? I chat with Kelley Keehn about this and more in this episode.

Long description:

Personal finance expert and author Kelley Keehn chatted with me for this fabulous episode of the podcast, and I couldn’t be happier! I love that her mission is to make people feel good about money! Just like she said in our episode, when people feel good about their money, they are better people and thrive in other areas of their lives.

I wholeheartedly agree. When you feel confident in your finances, you feel confident in your life. You start making better and longer-term decisions, instead of decisions based on survival or the immediate future.

We also go a bit deeper in our interview and talk about the different money mindsets people have. Like how they can either help you build wealth and live a life you want, or they can impede you from experiencing your full potential.

I know that my money mindset has evolved over the years, and that’s the amazing thing too. Just because you have say a scarcity mindset, doesn’t mean you can flip the switch into an abundance mindset. Everything is changeable and fixable, you just have to be self-aware and start making small changes to make a big change in the end.

Learn More About Kelley

For full episode show notes, visit https://jessicamoorhouse.com/131

Nov 16, 2017

I chat with podcast listener Alexis Kienlen about how she empowered herself by ending the mystery banking cycle & teaching herself about money management.

Long description:

This is why I love when podcast listeners reach out to me to be part of my Listener Series. Because sometimes they end with me saying that it felt like chatting with a friend I hadn’t talked to in a while. My listeners are amazing!

Anywho, this interview is particularly timely as November is Financial Literacy Month and my guest Alexis Kienlen shared how learning about personal finance changed her life for the better.

Like many millennials, she graduated hoping to follow her dreams and become a journalist. But, things have changed and it’s not as easy to earn a living and work in journalism. Realizing that she didn’t want to be broke anymore, she started reading blogs, listening to podcasts, reading The Globe and Mail and even reading Personal Finance for Dummies.

Now, she feels so much more in control of her life and her future, and it all came down to taking the time to educate herself so she could start making informed decisions.

Way to go Alexis, I can’t wait to see where you end up in the next few years (hopefully a published author and new homeowner!).

For full episode show notes, visit https://jessicamoorhouse.com/130

Nov 15, 2017

Is it possible to earn money on your investments without sacrificing your ethics? Tim Nash, investing coach and the blogger behind The Sustainable Economist explains why yes, you can!

Long description:

As I mentioned in the episode, I first got to know Tim Nash (a.k.a. The Sustainable Economist) back in the spring when he invited me to his Good Investment Fair.

So when I went to the fair, it really did open my eyes to a whole new world of investing. You don’t just have to buy funds that you think will perform well, you can do that and stay true to your values. And if Tim can help a couple create a totally vegan investing portfolio, then anyone can create a portfolio that speaks to them and what they stand for.

I definitely know that I’m going to have to take a good look at my portfolios and see if there’s anything in there I don’t feel good about. Luckily, more and more robo-advisors are starting to offer portfolios that are more eco-friendly and socially responsible, so that’s definitely a sign that Tim is certainly onto something that will become more popular in years to come.

Tim’s Model Portfolios

For full episode show notes, visit: https://jessicamoorhouse.com/129

Nov 10, 2017

At FinCon 2017, I had the pleasure of sitting down with my three of my favourite Canadian personal finance bloggers: Desirae Odjick from Half Banked, Andrew Daniel from Family Money Plan and Bob Lai from Tawcan.

This episode was recorded live on the last day of the conference, and has us chatting about their experience at the conference and what takeaways they'll be leaving with, their thoughts on blogging and everything in between.

Nov 9, 2017

For this Listener Series episode, I chat with Tracy Ma about how built her real estate empire despite her coming from humble beginnings.

Long description:

I love these Listener Series episodes, because I get to chat with super inspirational podcast listeners like Tracy Ma who has built a stellar real estate portfolio over the past decade (and is sharing how the heck she did it).

First off, I love Tracy’s story because she is evidence that you do not need to come from money to get into the real estate game. As she put it, she had a fairly rough upbringing. Her family was poor, so she knew that in order to change her financial situation, she’d need to work hard and be strategic in terms making her money grow.

She was eventually led to real estate investing, and now owns a number of properties in Canada earning her passive income.

That all being said, she does caution anyone listening that real estate investing isn’t for everyone. There is a ton of risk involved, it can be very time consuming and you really do need to know what you’re doing.

Luckily, she blogs about her journey and what she’s learned on her own blog Financial Nirvana Mama.

Thanks so much Tracy for chatting with me for this episode, it was a pleasure!

For full episode show notes visit: https://jessicamoorhouse.com/128
Nov 8, 2017

He wasn’t fulfilled in his life or career, so instead of complaining and wishing he had better luck, John Lee Dumas did something about it…which turned into a multi-million dollar a year business now known around the world as Entrepreneurs on Fire.

Long description: 

This is a pretty big moment for me because ever since I started the Mo’ Money Podcast back in June 2015, John Lee Dumas was one guess I aspired to get on my show.

Fast-forward 2 years and over 100 episodes and I got him!

So, why did I want to get him on the show so badly? Because he was actually one of the inspirations for me starting my podcast. When I got the idea to start a podcast, I immediately starting researching online and fairly quickly he popped up. He had (and still has) a very successful podcast called Entrepreneurs on Fire, and he also had a free course on how to start a podcast. I took the course and it really helped me start things off on the right foot. Honestly, if I hadn’t taken his free course, I know I would have made all the rookie mistakes and would have taken even longer to propel my podcast into what it is today.

For my interview with him, I just wanted to dive deep into what we was about, how he got to be so successful as a completely online entrepreneur (he now lives and runs his business from Puerto Rico). I also wanted to know how he does all the things he does and stays sane and grounded. And of course, he has a stellar morning ritual to start of his days right, something I know I need to start implementing myself.

This episode isn’t really about personal finance, but I wanted to share it because John is seriously such an inspiration to me. He’s a hustler, he’s a risk-taker, and he’s proof that if you feel unfulfilled and unhappy in your life, you can absolutely change course at anytime (it’s never too late!).

Helpful Resources

For full episode show notes visit: https://jessicamoorhouse.com/127 
Nov 2, 2017

If you want to avoid 5-figures in student debt by going to university, ever considered going to a trade school instead? I talk with Sylvia about how she went the nontraditional route for her career and why it was the best decision she could have ever made.

Long description:

The stats on student debt in Canada and the US are staggering. More and more young people are graduating with degrees in hand and 5-figures in debt to pay off. And sometimes that debt-burden will take them decades to pay off.

Here’s the thing…going to university and sticking with the traditional route of getting a degree to start your career isn’t the only way. For this Listener Series episode, I talk with Sylvia Bourgeois about her decision to not go to university but go to a trade school instead.

Instead of spending 4 years earning a degree with a boatload of debt to pay off after (not to mention grim job prospects), she was able to graduate her technical school debt-free, find a job soon after and start earning a decent income that would help her buy a home in Vancouver and eventually start her own contracting business.

The biggest message in this episode is that there’s no one way to do things. You don’t have to go to university, work in an office and climb your way up the ladder to be successful in your career. Moreover, if you’re a woman, you don’t have to pigeon-hole yourself into certain sectors or industries.

I’m ashamed to say that I never even considered a career in the trades because I didn’t think many women worked in that industry. Sylvia certainly proved that wrong, and wants to encourage more women to explore different career paths, even if they aren’t the popular or traditional choice.

For full episode show notes, visit https://jessicamoorhouse.com/126

Nov 1, 2017

I talk with the guy who wrote the book on side hustles (literally), Chris Guillebeau, author of Side Hustle: Idea to Income in 27 Days, who shares his tips on how to start and master your side hustle to take your finances to the next level.

Long description:

I had the pleasure of chatting with side hustle master and best-selling author Chris Guillebeau from Side Hustle School for this episode, and it’s honestly one of my favourites. 

If you know me, then you know I am all about the side hustle. It could because I’m just another typical millennial who needs to earn more to afford $10 bottles of organic juice and my expensive Uber habit (sarcasm, if you didn’t get that), but it’s actually because things have changed a lot since the last generation.

It’s not longer possible to stick with a job for 40 years and retire with a cushy pension. Now, if you want to be able to afford to live in an expensive city (and actually enjoy city living), travel, save up to buy a home and invest for your retirement, most likely your full-time job income won’t be enough. That’s where the side hustle comes in.

But here’s the thing, as Chris explains a side hustle isn’t just a second-job at night or on the weekends. It’s about starting your own mini-business that either sells products or offers a service that matches your skill-set and meets a need not currently being met on the market.

If you’ve ever thought about starting a side hustle, but was too afraid to start, didn’t know where to start, or thought if you start one you’d have to keep it forever (newsflash, you can stop it whenever you want), then Chris shares his wisdom and boy is it juicy.

He also literally wrote the book on side hustles called Side Hustle: From Idea to Income in 27 Days, so make sure to buy or check out a copy from the library because it’s not just about side hustles in theory. It’s about how to take action and what steps to take to get yours going.

Side Hustle Case Studies Chris Mentioned

For full episode show notes, visit https://jessicamoorhouse.com/125.

Oct 26, 2017

Thinking of jumping into the housing market? There's a lot to know and even more pressure to make a good decision (it is the biggest purchase of your life after all). I talk with Penelope Graham, Managing Editor of Zoocasa to find out what potential home buyers should know before buying their first place.

Long description:

If you have some questions about the home buying process, my guest Penelope Graham, Managing Editor for Zoocasa, has the answers!

Penelope was actually one of the panelists for my Millennial Money Meetup #2 in May 2017, and the focus for that event was homeownership and renting vs. buying. She was one of the top voted panelists by attendees, so I knew I needed to bring her on the show to share her wisdom.

Having bought my first place just a year ago, I still remember all the stress, research and more stress that went into finally signing on the dotted line. Toronto is a hot market, so I knew I needed to be prepared and not take this home buying process lightly.

Now that that’s behind me, I want to make sure that other millennials who are thinking of buying are just as well informed and prepared for this very big purchase. And if you have any questions after this episode, contact Penelope and she’ll be happy to guide you on the right path!

Tips If You’re Thinking of Buying Your First Place

  1. Remember that getting pre-approved for a mortgage is your first step. This will help you figure out how much mortgage you’ll be approved for, and how much you can afford and what your budget should me. Also, don’t borrow the maximum you are approved for, especially if only putting 5% down. You don’t want to be house poor after all!
  2. Interview potential realtors as if it was a job interview (because to them, it actually is!). Make sure you pick a realtor that’s the right fit for you, ask for their stats (how much homes sold/bought for clients), ask for references, and make sure they are a full-time realtor and completely invested in working with you.
  3. When given a buyer representation agreement from your realtor, negotiate a term for the contract that suits you best (ie. no longer than 3 months). This way, you can end the relationship if it’s not working and you won’t be tied to a lengthy contract.
For full podcast show notes, visit: https://jessicamoorhouse.com/124 
Oct 25, 2017

There’s a new way to get rid of stuff you want to get stuff you need, and I chat with Eli Klein, Manager, Publicity & Partnerships at Bunz all about it.

Long description:

The first time I heard about Bunz, I thought it was a really intriguing concept. Instead of being a copy of Kijiji or Craigslist where you trade your used goods for money, Bunz was taking it really old-school by being a platform all about trading goods for goods.

The last time I heard about something like this, Hudson’s Bay was a fur trader, not a big department store.

The more digging I did, the more I fell in love with what Bunz is all about. It wasn’t just about trading, it was about building a community, disrupting modern capitalism and focusing on good will and helping people in need. It’s also about helping millennials specifically navigate this new world we’re in where incomes are low, prices are high, and we also need to think about living more sustainable and environmentally consciously.

So, I was really thrilled when Eli Klein, Manager of Publicity & Partnerships at Bunz, reached out to me because I actually really wanted to have someone from the core Bunz team on the show. In this episode, we chat more in-depth about what Bunz is and it’s main philosophy, as well as the different aspects of Bunz including trading with the app and the hundreds of Facebook groups (which I’m obsessed with).

Helpful Resources

For full episode show notes visit: https://jessicamoorhouse.com/123

Oct 19, 2017

I chat with Questrade CEO and founder Edward Kholodenko about DIY investing, how to get started and why fees can affect your bottom line.

Long description:

DIY investing is becoming more and more popular, and it’s easy to see why. It puts the investor in the driver’s seat, having full control of what they’re investing in, and plus it doesn’t hurt that you can save a ton in fees. 

In this episode, I chat with Edward Kholodenko, CEO and founder of Questrade, one of Canada’s leading discount brokerages. He shares his story of immigrating to Canada and starting Questrade from the ground up, and why he’s so passionate about empowering investors and educating them on how to do it themselves.

You know the say, there’s no one that cares more about your money than you do. And that’s a big reason why I think DIY investing in index funds and ETFs is becoming more normal amongst millennials. We want to feel in control of our financial futures and we don’t want to just hand our money off to an investment broker and hope for the best. We want to know what’s going on so we can make sure we’re growing our money to it’s full potential.

And the most common way to DIY invest is to use a discount brokerage, follow an investment plan like the model portfolios shared on the Canadian Couch Potato’s site or The Sustainable Economist’s site, and rebalance accordingly.

To get you started, below are some helpful resources to continue your investing education.

Helpful Resources

Full full episode show notes visit: https://jessicamoorhouse.com/122

Oct 18, 2017

Ever dreamed of saying "Screw you!" to your 9 to 5 job? Then you'll definitely want to listen to my interview with Screw the 9 to 5 co-founder Jill Stanton on entrepreneurship, choosing making your own opportunity, and making your own money.

Long description: 

For this episode of the podcast, I talk to Jill Stanton, co-founder of Screw the Nine to Five. Currently living in Vancouver (but originally from Toronto), her and her husband started an mega-successful online business because at the end of they day, they wanted to be able to screw their 9 to 5 jobs and live life on their terms.

That’s why I was so drawn to Jill’s story. She was able to finally find her passion, start a business and essentially become completely location independent. She was even able to live in Thailand for a number of years, needing only her laptop to keep her business going. But as you’ll learn in her interview, it wasn’t that easy to get off the ground. Her and her husband started a number of different businesses before finding one that clicked.

We talk more about the ups and downs of being an entrepreneur, what you should consider financially before screwing your 9 to 5, and how to not let anyone tell you what you can and can’t do as your career.

What to Ask Yourself When Starting Your Business

  • Does it feel heavy or light? If whatever you’re working on in your business feels heavy, edit it out.
  • Focus on your plan A and don’t look back. When you have this attitude, you’ll feel more pressure (and motivation) to make it work.
  • You don’t need a business or marketing background, degree or a business coach to start a business (just take Jill as a prime example). But that being said, work hard, do your research, and be smart with the decisions you make.

Helpful Resources

For full episode show notes, visit: https://jessicamoorhouse.com/121

Oct 12, 2017

For this Listener Series episode, I talk with podcast listener Scott McEachern about what tactics he uses to pay down his debt and save for his financial goals, and a big one is tracking his spending.

Long description:

For this Listener Series episode of the podcast, I chat with Scott McEachern who reached out to me to be on the show after being a long-time listener.

Now, Scott actually works in the financial space, but personal finance is really his passion and it’s what led him to do what he does for a living. A big reason is because his dad worked as a financial planner, so he learned at a young age how to be smart with his money.

And ever since then, he’s put what he’s learned into practice to live a meaningful life that focuses on being intentional with his money.

He shares a number of things him and his wife do to be able to pay off their debt (they have student loans) and work towards affording their financial goals. These things include:

  • Adding small extra payments to his student loans to pay them off quicker
  • Buying used cars instead of brand new
  • Renting a cheaper/smaller place instead of trying to keep up with the Jones’
  • Delaying starting a family until they are debt free
  • And most importantly, tracking their spending and income regularly so there are no surprises

Learn More About Scott

Get Access to My Resource Library

I’ve got a ton of checklist, worksheets, quizzes and more to help you get your financial life together, and I’m housing them all in one place — my resource library. It’s free, it’s amazing, get in there!

Click here to access my resource library

For full episode show notes visit: https://jessicamoorhouse.com/120

Oct 11, 2017

Do you feel like you keep sabotaging your chance at financial success? You’re not alone, and money coach and personal finance podcaster Whitney Hansen is here to share how to overcome these common financial barriers.

Oct 5, 2017

 The American Dream is alive and well, and Lilian Hurn is proof of it! Originally from Lima, Peru, she immigrated to the USA in 2005, but has since retired early and dedicates her time to teaching others how she did it.

Long description:

I know I’m not American, but the idea of the “American Dream” has definitely made it’s way over the border into Canada, and I can’t help but cry ugly tears every episode of Sharks Tank I watch when someone new to the US has managed to go from zero to millionaire.

So, when Lilian Hurn reached out to me after finding my podcast on YouTube and asked to share her story for my Listener Series, I was so excited to be able to have her on the show. She literally is proof that the “American Dream” is alive and well. Originally from Lima, Peru, she immigrated to the USA in 2005 to work for Microsoft. She ended up meeting her husband there, and they’ve both worked together to fulfill their own dream of retiring early.

Now in their 40s, they consider themselves semi-retired, with Lilian’s husband working occasionally as a consultant, and Lilian spending her days as a Spanish-language financial literacy educator. She not only has her own blog called Super Baratisimo Gratis, she also has her own YouTube channel teaching others about the power of personal finance in Spanish!

Learning how to live frugally, work hard, save more than she earned, and earning money outside of her full-time job are what helped Lilian achieve one of her biggest goals in life. She truly is an inspiration, I’m just so glad I ended up putting my podcast on YouTube a year ago!

Since Lilian has her own blog and YouTube channel, she also had some great tips for listeners who want to be able to achieve their financial goals too. Here are some of my favourites.

How to Talk Money with Your Partner

  1. Be persistent (but not annoying). Sometimes it can take a few times to convince your partner to be open, so don’t ever drop the subject and forget about it. Try a different tactic, because it’s so important to be on the same page with your partner
  2. Focus on setting goals together. That’s the best way to motivate your partner to get involved in budgeting, tracking your spending and saving for your future. When you have goals outlined clearly that you can both work towards together, you’ll become a stronger partnership for it.

How to Reach Your Financial Goals Faster

Don’t just rely on your day job to get you there in the time you want. To get to your goals faster, you may need to look outside the box and earn more on the side. Lilian sold stuff around her house she didn’t need on eBay and cut back on unnecessary expenses like a storage locker that cost her husband $50/month.

Learn More About Lilian

For full episode show notes visit: https://jessicamoorhouse.com/118

Oct 4, 2017

Luisa Zhou shares how she went from Princeton grad, to climbing the corporate ladder, to quitting her 9 to 5 once and for all to start her own business as one of the most sought after business coaches.

Long description:

I absolutely loved chatting with Luisa Zhou, probably one of the hardest working millennials around. She is all about the hustle which I think is awesome. She has gotten to where she is today in her career because she knows that the only way to success is to work hard. That and some other pieces of wisdom she shares in this episode.

The reason I wanted to talk with her for this episode is because she has some great advice for starting a side hustle, and then turning that into your main hustle while still working full-time. I always cringe when I hear someone’s quit their job to pursue their dream, but clearly didn’t have a solid business plan or enough in savings to sustain them throughout the ups and downs of entrepreneurship.

That’s a big reason why I kept my side hustle as just that for 5 years until I was financially ready and was actually earning enough from my business to make me feel secure enough to leave my job. I certainly didn’t have $100,000 like Luisa did, but I had enough in my bank account that would basically last me a year if for some reason I couldn’t earn a penny during that first year on my own.

Beyond talking about the financial aspect if starting your own business, Luisa also shared some other great tips on how to success and how to promote yourself even at your 9 to 5 so you can grow in your career.

Important Lessons When Starting Out on Your Own

  1. Learn from your failures, don’t quit because of them.
  2. Stay humble.
  3. Figure out how to be a leader for your community.
  4. Stand up for what you believe in.

How to Promote Yourself at Work (without sounding arrogant)

  1. Study how success people around you present and talk about themselves.
  2. Speak about your projects with enthusiasm.
  3. Sharing your accomplishments as stories.
  4. Grow a thick skin.

Helpful Resources

For full podcast show notes visit https://jessicamoorhouse.com/117

Sep 28, 2017

I was joined by Cait Flanders, author of The Year of Less, for my latest Millennial Money Meetup in Vancouver and she shared about her 2-year shopping ban.

Long description:

At the event, Cait dropped some major truth bombs that I want to recap right here. It’s funny, even though I know Cait really well and we talk all the time, when she was sharing her story, some of what she said really made me think twice about how I think about spending, saving and earning.

You Shouldn’t Feel Guilty About Spending Money

For instance, a big part of her personal finance journey is getting out of debt. In her early 20s she spent more than she earned and racked up a bunch of consumer debt. So, she hustled to get that debt number to zero and has maintained her debt-free status ever since. This is no easy feat, but what she discovered was that after becoming debt-free, her spending started to ramp up again.

This wasn’t because she was a shopaholic, it’s because she just wasn’t being mindful with her spending. Let’s be honest, that’s probably most of us. We are so used to spending first, thinking second, that most of what we buy isn’t anything that’s of any real value in our lives.

She also found that she wasn’t saving that much. What’s the point of being debt-free if you can’t finally allocate those debt-repayment dollars towards your savings goals?

That’s where the shopping ban idea came in. She wanted to take control of her spending without feeling guilty about it. That’s an interesting thing that she made sure we all understand. A shopping ban isn’t to make you feel bad about spending. It’s to prioritize your spending. She still had to spend money, despite what “shopping ban” may sound like. She still had bills to pay and sometimes needed to buy a new bed or pair of pants. And that’s fine. But she just wanted to make sure everything she spent money on mattered.

Mindful spending is definitely something I think we can all try to be better at (though as I mentioned in the recording, I’m not sure I’m strong enough to do a 2-year shopping ban).

Be Open to the Idea of Earning More

I loved that she brought this up, because Cait and I actually talked about this one-on-one during my Vancouver visit. We’re both self-employed, though Cait’s been at it for a few years already, and making money is definitely at the forefront of your mind when you’re solely responsible for making the bacon.

I do sometimes miss getting a guaranteed paycheque every two weeks, but I also love finally being my own boss. Still, I’m always thinking about earning. I’ve got a spreadsheet I update constantly, I use Freshbooks to help me with my accounting (which I literally couldn’t live without), and I’m always hustling to make that money honey.

Money is always on my mind, and sometimes it really gets me down. Sometimes I get excited about the idea of earning more than I ever have before because finally there’s no salary cap. But most times I just hope I can make as much as the job I left. It’s a constant psychological battle of wanting to earn more so I can live a better life, and wanting to earn just enough so I can afford my current life.

Cait shared some of what she’s experienced working for herself, and how for years she would think she could only make a certain amount. She never had aspirations of earning 6 figures per year, and she was fine with that. But then she started talking to a few friends, and realized that she was limiting herself by not being open to the idea of earning more.

I think this is something we’ve all thought at one point or another (especially us women). The idea that we can only earn a certain amount, or trying to rationalize why we don’t need to earn more.

I would love to earn more. I’d love to bring in 6 figures per year. But I’m also afraid that if I put that pressure on myself, I’ll be too focused on making money and not focused enough on my main calling which is helping and empowering others.

But when Cait brought up it was more about being open to earning more, I just really like how she put it. I don’t need to earn a lot to be happy, but earning more than I am now could offer me more choice, more opportunity and ultimately more freedom.

For full show notes visit: https://jessicamoorhouse.com/116

Sep 27, 2017

Ever daydreamed of being able to RV around the country and working solely from your laptop? That dream is Michelle from Making Sense of Cents' reality, and she shares how she went from being 4-figures in debt to earning 6-figures every month

Long description:

I’m so excited to be kicking off Season 5 of the Mo’ Money Podcast with this stellar interview with Michelle Schroeder-Gardner from Making Sense of Cents. It’s not every day you get to talk to someone you’ve been following for years who went from ordinary personal finance blogger to online entrepreneur raking in over $100,000 per month (yes, I’m not lying, just check out her income reports for proof!). 

Now, I want to preface that even though Michelle is able to earn six figures per month, if you’re not, that’s ok! This episode isn’t to say that you should be earning as much as Michelle and if you’re not you’re failing at life. This episode should serve as motivation and inspiration to earn more than you do right now.

Michelle didn’t start out making this much, she hustled to get where she is today. And she still hustles today to keep it going so she can continue RVing around the country, working from her laptop and supporting her family.

So after this episode, I dare you to look at your current financial situation, start taking your debt seriously if you have some, and see if there is any way you can earn a little extra to help you move toward you financial goals that much quicker.

Here are some tips from Michelle below to help you get started.

Tips for Getting Out of Debt

  1. Take all of your student loan balances and add them up so you know the exact total. This will give you a concrete number to keep in your mind to work towards paying off.
  2. Find ways to cut back on your spending so you can put any extra money towards debt-repayment.
  3. Find ways to earn extra money so you can pile that onto your debt to accelerate repayment.
  4. Set a deadline and be specific. Don’t just say you want to pay off your debt in a few years. Pick a specific date two years from now that will be your debt-free date.

Tips for Starting an Online Business

  1. Diversification is key to start out so you don't rely on one income source.
  2. Find out what works for you, and if you want to be a freelancer who works for clients or an entrepreneur who sells products or has a service for customers.
  3. In terms of blogging income, creating a product (like a course) can be a great source of income, and same with taking part in affiliate programs.

For more info, visit the podcast show notes: https://jessicamoorhouse.com/115

Sep 4, 2017

I rarely do this, but I just had to put out this special episode to share some really important announcements I don't want you to miss!

First off, the next season of the podcast (Season 5 if you’re counting) will officially kick off on Wednesday, Sept. 27 with a fresh new episode! This season has a great line-up of guests and a lot of the interviews focus on making money and earning more to help your finances, so you definitely want to tune in!

Another thing that’ll be happening on Sept. 27 is my book club! I started a book club in the summer and I want you to join in for the next one. It'll be going down in my Facebook group (Money Life Balance Community) on Sept. 27 at 7pm ET and we're reading Millionaire Teacher by Andrew Hallam. He'll also join us live for the book club, so you won't want to miss that! To learn more, visit https://jessicamoorhouse.com/bookclub

Something that’s happening even before all that is a very special event I’ll be doing in my hometown! For all of my Vancouver friends, I'm going to be hosting my Millennial Money Meetup in Vancouver on Monday, Sept. 18, so visit http://millennialmoneymeetup.com to get your tickets before they're sold out!

Last but not least, if you missed out on your chance to register for the Rich & Fit Bootcamp this past June, fear not because the doors are opening once again. Sign up for updates at http://richandfitbootcamp.com to be the first to know when you can enroll!

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