In this episode, Elise & Scott Grice open up about their history with money and the complexities of building wealth, overcoming shame, paying off debt, managing expenses, and increasing your earning potential.
“Our goal isn’t just to spend as little as possible or to make as much as we can. Our goal in all of this is about choices. That’s what so many of us are after when we talk about quitting our day jobs, starting a business, or living with less. We just want the ability to choose.”
— @heysweetpea
Topics discussed in this episode:
- Your childhood money story and introduction to wealth
- Abundance vs. scarcity mentalities
- Increasing your earning potential
- How to ask for more + charge more
- Profit-generating tasks (and how to focus on them)
- Breaking the cycle of feast or famine
- Renting vs. buying
- The “invisible scripts” we’re all fighting against
- Hidden money and how to uncover it
- What business owners typically overspend on
- Managing your expenses in life/business
- Accounting for taxes, vacations, and big expenditures
- Breaking the debt cycle
- 3 different approaches to paying off debt
- Financial goals and creating your own step-by-step plan
Additional resources:
If you’re looking for financial advice and individual support after listening to this episode, we’ve gathered the following resources for you. As always, please research, read, and listen at your own discretion.
Books:
- Profit First by Mike Michalowicz
- Worth It by Amanda Steinberg
- I Will Teach You to Be Rich by Ramit Sethi
- The Soul of Money by Lynne Twist
- Your Money or Your Life by Vicki Robin
- The Millionaire Next Door by Thomas J. Stanley
- One Up On Wall Street by Peter Lynch
- You Are a Badass at Making Money by Jen Sincero
- Called to Create by Jordan Raynor
Podcasts, Videos, + Articles:
- Elise + Scott interview Mike Michalowicz about Implementing Profit First
- Online Marketing Made Easy Podcast: How to Track Your Financials Using ‘Profit First’ with Amber Dugger
- MarieTV: How to Master Your Money & Set Yourself Free with Amanda Steinberg
- Adam Baker’s Ted Talk: Sell your crap. Pay your debt. Do what you love.
- Denise Duffield-Thomas: Selling Styles: Men vs. Women
- Farnoosh’s So Money Podcast
- Daily Worth: Calculate Your Net Worth
- HerMoney: Net Worth vs Income: One Matters Way More than the Other
- Daily Worth: How to Raise Your Net Worth Regardless of Your Salary
- I Will Teach You To Be Rich: Dumb Dumb Dumb Propaganda to Buy a House
- I Will Teach You To Be Rich: The 5 Steps to Buying a House
- TechCrunch: Why Entrepreneurs Should NOT Buy Homes
- Dave Ramsey: Should You Rent or Buy a House?
- Daily Worth: To Rent or Buy
- Mr. Money Mustache: News Flash: Your Debt is an Emergency!!
- Nathalie Lussier: Online Business Models You Need To Know About