In this episode of "Money with Marie," host Marie Lovett shares three small yet impactful actions that can help you cast votes for the type of person you aspire to be in your financial life. These simple steps are designed for women ready to take control of their finances and create a future that aligns with their values and goals.

Personal Finance Podcasts:

1. HerMoney
2. DIY Money
3. WSJ Your Daily Briefing
4. So Money with Farnoosh Torabi
5. How to Money
6. NPR Life Kit: Money

Personal Finance Books:

1. The Psychology of Money - Morgan Housel
2. The One Page Financial Plan - Carl Richards
3. Atomic Habits - James Clear

Personal Finance Email Newsletters:

1. Fidelity Smart Money
2. How To Money
3. Morning Brew

• Connect with Marie - IG ⁠⁠⁠@moneywithmariepod⁠⁠⁠ or on ⁠⁠⁠LinkedIn⁠⁠

• Submit your money questions to Marie at marie@makercityparaplanner.com

• ⁠Open a high yield savings account at Ally ⁠and earn $$$ on your savings!

This episode features a real-life question from a long-time friend facing a "too good to be true" dilemma. After selling their home, they're wondering if putting $75,000 into a high-yield savings account earning 4% would generate $18,000 in just six months - enough interest to pay off their high-interest auto loan while keeping their principal $75,000 to use for other needs.

Spoiler alert: the math doesn't work that way.

Marie uses this question to walk you through exactly how high-yield savings accounts actually work - no jargon, just straight talk. You'll learn what HYSAs are great for (emergency funds and short-term savings), what they're NOT for (investing or avoiding debt payoff), and how to easily calculate interest using free online tools.

She also breaks down why rate-chasing is a waste of time, shows you the real dollar difference between competing rates (hint: it's smaller than you think), and shares her personal favorite HYSA that she's stuck with for years.

Perfect for: Anyone wondering if their savings could be working harder, or anyone who's ever thought a financial opportunity sounded too good to be true.

• Connect with Marie - IG ⁠⁠⁠@moneywithmariepod⁠⁠⁠ or on ⁠⁠⁠LinkedIn⁠⁠

• Submit your money questions to Marie at marie@makercityparaplanner.com

• ⁠Open a high yield savings account at Ally ⁠and earn $$$ on your savings!

• ⁠High Yield Savings Account Interest Calculator

In this inaugural episode of Money with Marie, host Marie Lovett, a CERTIFIED FINANCIAL PLANNER™, sits down with Erin Reece, a financial therapist and CEO of Bear Financial Solutions. They discuss the importance of financial education for moms, the impact of generational financial trauma, and how childhood experiences shape adult financial behaviors. Erin shares her journey in finance, the challenges of corporate environments, and the significance of creating safe spaces for financial conversations. The episode emphasizes the need for awareness of unconscious financial patterns and the importance of taking control of one's financial journey through intentional habits and understanding personal money scripts.

Takeaways

• Money decisions infiltrate every area of our lives.
• Creating a safe space is essential for financial conversations.
• Generational financial trauma can shape our beliefs and behaviors.
• Childhood experiences significantly impact adult financial habits.
• It's important to identify and understand your money script.
• Financial literacy can improve quality of life.
• Engaging your senses can help create a comfortable financial space.
• Breaking unconscious financial patterns takes effort and intention.
• You are the one responsible for your financial outcomes.
• Celebrating small wins is crucial for personal growth.

• Connect with Erin - IG @erinthemoneytherapist or visit her website at www.bearfinancialsolutions.com

• Connect with Marie - IG ⁠@moneywithmariepod⁠ or on ⁠LinkedIn
• Take the Dr. Brad Klontz Money Script Test here.

• Read James Clear's Atomic Habits!