Episode 91: Wealth, Women, and Wisdom with Stacey Swanson

The Fast-Track Woman Podcast: Episode #91
Wealth, Women, and Wisdom with Stacey Swanson

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 Meet Podcast Guest, Stacey Swanson.

From stay-at-home mom to single mom struggling to make ends meet, this Rockstar earned her bachelor's degree in accounting at 48 which landed her the dream job as a government Finance manager. But she found herself unfulfilled and decided to follow her dream of working for herself!
As a Money & Budgeting Coach with the company she founded, Wealth and Women, Stacey works with professional women - even those just starting their careers – who are smart, making great money, and living an amazing life, but money isn’t their thing -they are feeling overwhelmed, their money is falling through the cracks, or just ignored.

Stacey guides and coaches women to Money Confidence and with 30 years of accounting, insurance and banking experience Stacey is well equipped to handle any professional woman’s money confidence needs.

She knows how you feel and is here to help with your personal and business finances.

 About this Podcast Episode.

In this episode, Terra Bohlmann talks with Stacey Swanson, Money & Budgeting Coach. She founded her company, Wealth and Women, to help smart women go from "money overwhelm" to "money confident". They talk about the top things that keep women from feeling comfortable having money conversations and how to overcome the fear.

 Resources, Tools, and Links Mentioned in this Episode.

 Read and Download the Transcript for this Episode.

Intro (00:01): When you give smart women a five-year plan, simple business strategies and a positive mindset. It's amazing how fast your business can grow. Welcome to the fast track woman podcast with your host and business strategist, Terra Bohlmann. She helps women business owners stop winging it and board the fast track to success. When she's not making high flying dreams, the reality you can find her traveling to random destinations, desperately tracking down Chanel, broaches, or sipping overpriced coffee drinks. Her purpose in life is to help you build a profitable first-class business, smooth out the bumpy ride, and finally have more time, energy and freedom. So buckle your seatbelt because this episode of the fast track woman takes off right now.

Terra Bohlmann (00:52): Hello. Hello. Welcome back to the track woman. I am your host Terra. And today I have an amazing gas that you're going to love because she talks about one of my favorite topics to dig into with women entrepreneurs and it's around money. So let me introduce you to her. And then we'll just dive right in. So from stay at home mom to single moms, struggling to make ends meet this rockstar earned her bachelor's degree in accounting at 48, which landed her, her dream job as a government finance manager, but she found herself unfulfilled and decided to follow her dream of working for herself as a money and budgeting coach with the company. She founded wealth and women, Stacey Swanson works with professional women, even those just starting out in their careers who are smart, making great money and living an amazing life, but money. Isn't their thing. And they're just feeling overwhelmed and money seems to be falling through the cracks, or they're just plain ignoring it. Stacey guides and coaches, women to money confidence within with her 30 years of accounting insurance and baking experience. She's well-equipped to handle any professional woman's money, confidence needs. She knows how you feel and is here to help with your personal and business finances. So please join me in welcoming to the podcast, Stacey Swanson. How are you? Thank

Stacey Swanson (02:21): You. Thanks for having me on your podcast. So excited to be here. I am excited

Terra Bohlmann (02:27): To have you. And like I said, I love this topic around money because it's really one of these things that women are either all in with it and like balancing down to the penny from the bank, you know, reconciling the bank account or they're putting their head in the sand and just knowing, you know, hoping, hoping using the hope strategy to see if it will get resolved. So why do you, so first out of the gate, like why do you think women tend to, like, if we're talking to the women who are just kind of, you know, like not confident around money or just kind of struggling to keep on, keep on it with things. Why do you think that is?

Stacey Swanson (03:09): Well, mostly it's because nobody taught us about money growing up. When we went to school or even college, I have an accounting degree, nobody ever talked to me about personal finances or running my business. And it's just kind of this foreign language to most of us, even men. And, but I remember growing up, like he just really didn't talk about it. You didn't talk about what people were making or if your parents were struggling, I, we had a farm and there was always, you know, bad crops or hailstorms or things like that. And you could tell there's something going on, but nobody really talked about it. And so our parents and our grandparents weren't really equipped to even do that, to pass that onto us, you know, but we still gleaned a lot of things whether it was spoken or not like parents fighting about money the not talking about money anything from, you know, oh, those people got a new car, they must make a lot of, you know, they're rich and, you know, we don't like them anymore kind of attitude, or even the thing that maybe you did have money and you just spent it, like your parents just spend it like crazy.

Stacey Swanson (04:20): And you were constantly going on vacations and getting new cars and new houses and you didn't think anything of it. Right. Right. So both of those situations, whether you were really poor and wanting for money or having a lot of it, nobody really knew how to handle it. So how are we supposed to know that it's still affecting us in our adulthood? Because again, we, nobody taught us the right way to do it. And then on top of that, we're dealing with all this stuff from our childhood.

Terra Bohlmann (04:45): Yes. Which definitely brings forth everything. I've been doing a ton of breakthrough coaching, like recently getting certified on, on things. And it's like amazing from when birth to seven years old, how implanted we are with our thoughts about money and growing up was one of these crazy things, because I grew up in where credit just started to be like a thing where, you know, like our grandparents didn't, you know, credit, wasn't a thing, you paid cash. And then like, I remember getting these little magazines in the mail that were like, Fingerhut was what it was. And it was like, you know, you could have whatever you wanted for like $4 a week or whatever. And it was like, oh my gosh. So my mom was always like, let's get this new comforter let's whatever. And it, you know, and so I think our parents' generation really started experiencing the credit aspect.

Terra Bohlmann (05:35): And then, you know, like the, I can have it now, but then, you know, pay for it later, pay, pay for it later, wink, wink, you know or figure out how to do it. So then that always seemed to, you're always in catch up mode. It felt like in my household where, you know, I had friends whose parents had plenty of money, but they didn't spend it. And then ones who didn't, but they spent everything. And yeah, and I think it's just really interesting how, as a society, like you said, it just created this like kind of almost like perfect storm of nobody wanted to talk about it because it could be good. It could be bad, but we're just not gonna do.

Stacey Swanson (06:11): And then COVID happens and yeah, probably 85% of the American public has no savings, not even $500 that they can lean on or use. And that's that makes our whole economy crappy. Like if we were all taking good responsibility for our money, everything in our lives, you know, our wellness stress would be down. We'd have more peace of mind. We wouldn't be so angry. We wouldn't have to work so many hours. I mean, just so many things are affected by how you handle your finances. Yeah.

Terra Bohlmann (06:44): Well, let's, let's kind of turn here. I want to know more about you. Like what, what made you do what you did at 48 years old and get the accounting degree and like now with what you do, it's like, where did that passion come from?

Stacey Swanson (06:59): Well, I grew up in a small town in Northern Colorado and there was like 80 kids in my class and I was in the top 10% and I always got straight A's. It was really easy for me, went off to a state college. And even though it did everything right with class studied, I was getting deeds. I'd never had a D in my life. And by the time, my third semester I had like a 1.8 GPA and I was just freaking out. I don't know what it was, I guess, but so I left school and that always bothered me that I didn't finish. And fast forward, several years later, 25 years later, I'm divorced mom of two young girls moved back call with my parents and didn't have a degree. So before I got divorced, I was working at a, at a school office, you know, so that was minimal wage.

Stacey Swanson (07:50): And here I'm going to try to, you know, provide for these two kids with, without a degree. And I was so frustrated. So I decided after a few jobs in, I mean, I was still working full-time when I did it, but I went at night and then finally online and finished and got my accounting degree. And that was the best, one of the best days of my life. I walked in the ceremony and it was, it was really amazing. I just felt like I could do anything. So I'm all for education, but with the consideration of the cost before you take that dive. So yeah, so when I got my degree at 48, I also got my life insurance license and I really wasn't sure what I was going to do. I'd always worked in government accounting and I still was and moved to a couple of different jobs in the, in the counties.

Stacey Swanson (08:40): And those were really good high paying jobs with amazing benefits because they were government, of course, but I always knew I wanted to be my own boss. And in the meantime there, when I after I finished school, I had a couple of friends that were divorced moms. They were struggling. And so I formed this little group and we got together every two weeks at a coffee shop and just talked about, you know, our struggles and shared with each other. We try to keep it really positive. We created goals and kept each other accountable and all three of us reached those goals and just seeing how much it helped people to believe in themselves and have somebody cheering them on made such a huge difference. And that's why I decided to first become a money coach for women, because I wanted to help when they do that.

Stacey Swanson (09:25): But as I was doing it individually and of course online because of COVID this past year it just wasn't hitting with me, you know, like it just, I mean, I was making good progress with my clients, but it just wasn't the same. And I realized I need that group, you know? So they all feel connected so they can say, oh, I'm, I'm not so bad. That's a goal for me to reach it. That what that other person is doing, kind of lean on each other. So that's kind of how I'm shifting now more educational and larger trainings or trainings for businesses as well as my life insurance business. So

Terra Bohlmann (10:04): Cool. I love how you, like, you're the definition of pivot, right? It's like, you can do whatever you want, even at 48, getting your degree and then pivoting to like, you know, how do you, you know, the pandemic totally like shifted tons of people's business models and it's like, you've been changed and pivoted to what feels good. And now, you know, like it's about group it's about that connection and community, especially around money with women that it just gives everyone permission to talk about it. I think that's fantastic. So let me ask you this question. You know, we have listeners who are in the corporate world, or they have the comfortable job that gives the paycheck, you know, and want to go into entrepreneurship, probably similar to what you shifted to as well. And I did the same thing. I worked at a consulting company and I knew I wanted to start my own thing.

Terra Bohlmann (10:57): So then I went part time and then I will actually ask to go contract. And they're like, why would you, you know, be an employee? I'm like, Nope, Nope. I have a plan because I wanted to mentally start thinking of them as my client and versus being an employee. And I felt a lot less guilty, you know, on try, you know, try and I could be a little pickier on the projects that I was on and I just had more flexibility. So I went contract, then I went part-time and then I was like, okay, I wanted to get paid to learn things like sales and whatever. So I was like, oh, can I do that project that has to do with salesforce.com and you know, things that I knew would help me with my business. So I kinda, I had a strategy, but the way I went about it was unique. What do you recommend for those women who are in a corporate environment that have a comfortable paycheck that they're have this yearning inside to like start their own company? Like what's a good, like three steps that they could do.

Stacey Swanson (11:53): Well, first of all, you got to make sure your personal finances are in order. Because a lot of us don't even know what's going on. You know, maybe you've created a budget here and there, but have you followed it month after month? Are you having money dates with yourself, that kind of thing, you really need to track your money and your spending, which you can pull up on your bank account, you know, statement and put it into a spreadsheet and kind of see where you're at or mint.com is great for showing you that too. Plus you can create a budget and mint.com and it kind of compares, but you got to know that first because you've got to know how much, how are you going to replace that income? How are you going to replace the insurance that you're, maybe you're paying for the insurance through your job for the family.

Stacey Swanson (12:37): And then you want to have that cushion that we talked about earlier. So I would say like probably three months worth of living expenses, maybe not business expenses, but living expenses so that you can get your business up and going. I mean, for me, it took about six months to really get going and start making some income and start working on it now, like start your business now while you're still working full time, go out on your lunch hour and, you know, make calls or shoot a video or answer emails in your car or whatever. And then after work, you know, of course you want to balance it with family time, but maybe make two or three nights a week that are yours for your business for a couple hours or after the kids go to bed and just get it going.

Stacey Swanson (13:21): So by the time you leave, it's kind of up and running, but yeah, you need that cushion. You need to know where you're at. So, you know, one good thing is he won't be dressing up and buying as many clothes when you go home or you won't be using the gas that you were before, or, you know, spending money, eating out because you're not at work. So those things will help your budget. But I think, I think a lot of people don't think about that. And then they start a business and they're like, wait, I'm not making money. What am I going to do?

Terra Bohlmann (13:52): No, I love that. And one thing I love what you said about the clothes and whatnot. So as a consultant, I had tons of suits, suits, suits, suits, and then I would have my black carry on with my laptop and just suits for days and all my professional clothes. And honestly, it was so I've had my business about 11 years now at year, I think it was like six or seven that I was looking at my closet and I still kept, I had kept all those suits because, you know, I'm like shopping at Talbot's and you know, all kinds of are like 300, $400 suits. And I was like, what I realized I was doing is that was my backup plan. And even this far into my business, I was keeping the suits in case half them probably didn't fit me anymore. And half of them were out of style, but I was like holding onto them.

Terra Bohlmann (14:37): So it was such a freedom feeling to be able to just pop together the ones that like are still somewhat in style and give them to dress for success. And then the other ones, you know, donate them or whatever it was like, Ooh. And then once that was out, I was like, there is no plan B for me, because this is what I want to do. And I'm, you know, having that backup plan that I would go run back to the corporate world was just like, you know, I don't know. I think it was a safety net for me that I was like, I needed to remove the safety debt. So yeah, you'll save a ton of money on, on clothes and other expenses and whatnot. You had said something about a money date, so I want to hear more about what's a money date and yeah. And, and how can women who are like a money date that doesn't even like, I don't even know.

Stacey Swanson (15:29): What does that fund, is it giving me money on the date?

Terra Bohlmann (15:32): Exactly. What does that mean? Basically

Stacey Swanson (15:34): A money date is setting a time on your schedule, just like you would a date night with your husband, whether you're single or you have a spouse, but if you're going to, if you do have a spouse, please make sure you're both there. And this, I recommend once, once a week until you get kind of things going. But, you know, first we have women track what they're spending by hand. So it really resonates with them. Oh crap. I spent $5 on that drink today. And it makes you think each day when you are spending money, oh, I've been having to write that down in my list and then we kind of take that information and make a budget. So once you have the budget, the only way it's going to keep working is if you check in on it once a week or often, right?

Stacey Swanson (16:11): So with the county, I got paid once a month on the first. So I had to make that money last. And so it was a really good thing. Like every Thursday night I would sit down I'm single, so I didn't have a spouse with me, but I would sit down and go, okay, what have I spent? Oh my gosh, maybe I shouldn't have done that. You know, I gotta really watch it this week. I mean it, and you gotta think about those things. Does your son have a field trip coming up, but you have to pay for, or summer camp that you're saving for, or, you know, are you on track to pay off that debt or you keep using the credit cards and that amount keeps going up. So it's just creating that space in your home. Maybe it's a desk, maybe it's a drawer. Maybe it's a cabinet where you put all the bills, you keep, you know, maybe your, your good, your financial documents, your laptop. And then once a week you bring it out and you go, okay, we pay these bills. You know, this was the spending, Hey, how can we split $500 on a whatever. Right. You know? So just talking about those things, cause you've heard holding each other accountable on a regular basis. You're not going to fight so much about it because you know, what's going on. It's not a surprise.

Terra Bohlmann (17:15): That's true. And you're not going down a path. And like, you know, one of my fears or, you know, when I've talked to other women who like their husbands manage the finances, it's like, you know, as well, what do we have? Like, and that was a big thing for my husband. And I'm married to a, he's like a corporate guy, but you know, engineering degree type of thing. And it's like, he loves like, just knowing like every penny. And like when I used to be addicted to Starbucks, he's like, you need to just have your own kind of spending account. I can't reconcile. These mochas like is crazy. And you know, so then I would, okay, fine. I had an allowance for my coffee or my whatever, going out to eat with friends each month. But it was, it wasn't until he created a here's the, like the spreadsheet.

Terra Bohlmann (18:03): And then he created a presentation. And so, and we did like the whole Dave Ramsey approach where it was like, you know, the cause when I had left the corporate world, I was making mid six figures and then I'm starting my business. And while it was, you know, gearing up and whatnot, we had to like make some shifts in our household and you know, so he like, you know, start, we did the debt snowball, and then he had this like charts and now he just has this presentation that we do. And it's like every about six weeks, you know, he'll update it. And it's like super fun and we'll we will take it the laptop and we'll go to, you know, whether sometimes it's just like a bar or coffee shop or something and he'll flip through it. And I just, I feel so in the loop on things and whatnot, but same type of thing. So we literally have a money date. Like we, but we leave the house and sometimes it's like, well, you don't have a marker Rita. We tried to make it fun because if not, if not, you know, it won't get done. So I got to have some like positive carrot, like type of thing to do it. And he always puts our net, what's our net worth it, you know, and, and all that kind of stuff. Yeah. And then it it's super exciting to be able to do it.

Stacey Swanson (19:15): Yeah. A lot of advisors also would recommend doing with a family at least monthly. So once the kids are old enough to understand like maybe fourth grade and up have them sit there and go, this is the situation, you know, we have $300 leftover, we're going to put 200 towards that travel, you know, that vacation we want to take and the other hundred week, what should we put it or make it a family decision. And then you're teaching your kids about money. Yeah. Which we didn't get. Right. Right. When they're starting to understand what a budget is and how all that works. So it's really good. And another thing I heard, I grew up on a farm. My parents didn't do this, but there, there each kid, each year, their kid was a senior. So each kid, as they were seniors, they helped do the farm books for the whole year. So they understood the concept of the money and how little, or much they were making on the farm. And I think just involving your kids, even in your business, it's really important to help them understand. And then they're not always like, why can't we buy that? Why can't we go on vacation? You know? And you can make them understand all that.

Terra Bohlmann (20:19): Yeah. Yeah. I mean, even from a, you know, the flip side of like, Hey, you know, if mom, mommy hits her, this financial goal in her business this year, we can all do whether it's going to Disney or do something. And then it makes it seem like, you know, oh, I didn't make it to your soccer game on time. I had a client or whatever, you know, it's like, I'm working on trying to, you know, get that trip to Disney or whatever we decided. And, and I think in, like you said, involving your family in that is amazing. I mean, yeah. Especially in a society today where everything is so like ApplePay and blah, blah, blah. It's like money can just fly out and we give our kids a warped sense of that, of about money. Like, it's just always there. I was my cousin, my cousin was visiting last week here at my, in Houston.

Terra Bohlmann (21:08): And and I, we were like sharing stories growing up. And I was like, I remember like, you know, she'd be like, can we get this, you know, to my aunt or uncle? And they'd be like, no, we can't swing that. You know, I don't have the money for it. And she'd go, we'll just write a check. Like, cause she didn't understand that you had to have money in the bank account and you could just write a check and you could get whatever you wanted. And now it's just kind of like, just charge it or just put it, you know, on your app pay. So I love the idea of involving your, your kids. So when you talk about being money, confident, what does that, what does that mean to you when you help other women become money? I'm so

Stacey Swanson (21:41): Glad you asked. So there's five basic things and like like we talked about already, many women are afraid to talk about money. They feel like they're not supposed to talk about it. That it's rude. And they don't understand it. So that's another reason. So becoming money competent is that you have financial freedom, you understand all of your you're managing your money, you know, what's going on with your money. You're not just letting somebody else take care of it. And that also you feel comfortable talking to financial professionals, whether it's a financial advisor, life insurance agent, a car salesman, a mortgage lender, all those things. A lot of people don't do those things because they feel uneducated to go talk to a car salesman and you know, someone who would lend them money and everyone has learned it. I mean, we've all, you know, learned stuff in high school like algebra, it's not that complicated, right?

Stacey Swanson (22:38): So it's just a matter of educating yourself, taking the time to train. But the five things we like to Cheech on are first of all, the money mindset, which like we talked about, it affects, it affects your spending and your earning habits. I mean, some people will turn down a job because they're going to make $500,000 a year. And what will our family say? Like they grew up with nothing and everybody's gonna, you know, stamp you're you're too good for everybody. I mean, there's situations like that all the way down to, I can't make $500,000 a year. I'm not worth that. The spending habits, like we both talked about growing up and then we talk about cause that is key. That's probably like 50% of making it, making it work and with your money. And then secondly talking about tracking your money and making a budget and seeing where you're at, because if you don't know that, how can you improve your net worth?

Stacey Swanson (23:34): You know, how can you set aside money for savings or quit your job and start a business without knowing where you're at. And that is really a key component as well. Then we talk about debt elimination. Debt is totally taking away from building your wealth and opening that business or moving to a bigger house or whatever you desire. So I like to explain it like a scale that when the money comes into your checking account, it's like a bucket here, but not this much say $2,000 has to go over here on the left side to pay those bills that are required to be paid, the credit card bills and student loans, the mortgage car loans, all that stuff. And then what's left over. It gets to go to the right side, which is your savings or your spending on groceries, travel, whatever you want. But usually that debt sites way, way heavier. Right. And it's taking away from the savings. So the more we can reduce the debt and not spend and put stuff on credit, the faster we can increase our income. Yeah.

Terra Bohlmann (24:39): And that's what it's, that's what it's about at the end of the day. I mean, I see it a lot with women entrepreneurs and stuff too. It's like a couple of things. One they'll come to me and they've left their corporate job and say they made a hundred thousand or 120,000 and they'll be like, okay, I just need to replace my corporate salary. I'm like, that's your goal? I'm like corporate salary, 120. So 10,000 a month, you have to now pay taxes on that. You have to, you have to now pay your own healthcare. Most likely you have to pay your expenses for your business. It's really more like at least double if not triple. So in order to replace. And, and it's just kind of like, oh, like, or you'll hear about women who have multi-million dollar launches or this and that. And it's like, okay, that's great. That's revenue. There's a difference between revenue and profit and let's educate on that. Right. And so now going without money. Right.

Terra Bohlmann (25:34): And so it was going out, you don't know how much they to pay in Facebook ads to get that you don't, you know, and it's like, people use revenue is vanity. What did they say? Yeah, Broan is vanity profit is sanity. So, you know, it's something to keep in mind. You know, the best thing I ever did was get a bookkeeper that manages all my reconciliation. Literally I just got the email today. It's the first of the month. They're like, we're rec we'll reconcile it and they'll be done in the next two days. So I can log in and like have a dashboard of EV you know, exactly where I'm at and, and whatnot. And it allows us to adjust, you know, like quicker instead of waiting till taxes and be like, oh, I really overdid it with the travel. No, I shouldn't. I should know that by month two. And you know, but we just get quote unquote so busy in other areas in our business. So but this has to, there has to be a priority. Yeah. What's your two other ones was more

Stacey Swanson (26:30): The savings and building wealth. So as you're paying down that debt, because you don't want to be running a business with a lot of debt and you also want to retire with a bunch of debt, and we're not talking about consolidating debt, like rolling all your credit cards into your mortgage is every time you refinance, that adds 30 years on. So if you're going to retire in less than 30 years, it's probably a good idea not to refinance for 30 years because you don't want to be using your retirement income to pay for a debt. Right. so we work on savings, like, especially for those note, like emergencies that we don't know that are coming. So having that emergency fund like Dave Ramsey would say, but also those known expenses, like holiday spending back to school, shopping, car, registration, life insurance, or annual policies, all of that stuff, you know, is coming.

Stacey Swanson (27:16): So put some money aside every time you get paid to pick, to add up for that. Wouldn't that be great. Come October, you have a thousand dollars for holiday spending, just sitting in a savings, figuring out how you're going to pay for everything or dealing with credit card debt after the holidays. Yeah. And then the and then of course that three to six months worth of living expenses, another savings account, we like to talk about to have that buffer. And then lastly, the fifth concept is money concepts. So what's an IRA, what's a mutual fund, what's a 401k. So people understand their finances more and they they can feel confident in talking to somebody about getting a mortgage or a mutual fund.

Terra Bohlmann (27:58): I love it. Knowledge is power and especially when it comes to money. So, and it's like, you know, I love the order that you did cause it's really money, mindset and kind of clearing some of those money blocks. You know, what do you see as the top for women business owners specifically? What are the, what are the top money blocks that women have,

Stacey Swanson (28:18): First of all, just not handling the money correctly, right? So maybe you're really good at making the money and having it come in and you can get clients in your marketing skills, but then what are you doing with that money, right? Six months from now, pandemic, hello, anything could happen. And then are you going to be able to survive? Do you have enough put away as you're going along to cover you in those lean months? So that's the ignoring part kind of, or I'm doing it at, so the corporate women, I'm doing it at work, I'm managing this million dollar budget, but then when I come home, I just don't want to deal with it. Right. Yeah. So that kind of mindset and overwhelmed was another one, just like there's too much to do. Homeschooling kids now cause the pandemic you know, I'm dealing with all these things plus trying to have this job and people just, you know, just it's too much.

Stacey Swanson (29:13): Or the divorce woman that you know, is now having to deal with everything on her own and make ends meet and try to figure out stuff. So they sometimes have the mindset that they want to keep everything the same for the kids. Like we can't sell the $600,000 house, cause this is where they grew up and they'll be sad, but that's what you need to do to make it right. What you can do with the equity off that house. So it just kind of those kinds of mindsets. And then just the feeling disempowered, like I don't understand it. I don't know how to, who to talk to. I'm embarrassed about things. I've had clients that couldn't even like message me on a DM back. If I ask them a question about their money. Cause they're so embarrassed, right? So forgiving yourself for a bankruptcy or a divorce even, or all of those money, mistakes that you've made, we've all done them overdrawn our checking account and you know, maybe not pay the bill on time or, or even worse stuff. And it's, it's just part of life. You've got to forgive yourself and move on.

Terra Bohlmann (30:14): Exactly. And that's, I think that's the large key is like you have to, you know, quit beating yourself up over it and said, like you said, get educated and do something about it. And you know, which is a great segue before I ask the final question, I ask everyone who I interview on the podcast, but I, you know, how can people get in touch with you and where can they learn more?

Stacey Swanson (30:36): So my website is belt and women.net and that's all spelled out so well and a and D women.net. And we also have a subgroup in there called the wealth store. So foundational planning, you're building all these assets. You have this business, you have a home, make sure you protect all that stuff with life insurance and an estate plan and have a plan for your kids. If something happened to both of you, all of those things are so important, long-term care because if you are in a nursing home or any kind of long-term care and you don't have insurance, you might have to sell your house to pay for it right now, but all that, nobody wants to do that. So all these assets are you collecting, make sure they're protected. And then I'm also on Facebook and LinkedIn and Instagram. I have a Facebook group for women and it's called welcome women community and just, you know, check everything out there. There's lots of information on debt elimination the budgeting and we'll have events on there when they're coming up and maybe I'm working on some virtual classes to some digital courses. Love

Terra Bohlmann (31:50): It. I love it. Yeah. And she has and mini course called how to increase your income. And she's offering a discounted price for fast track woman podcast listeners. So you can go to the show notes@Terra Bohlmann.com slash podcast and come to this episode and we'll have a link in there. So if you're interested in how to increase your income, she's even giving it to you at a discount. So I think that is something you should definitely check out. So that being said, let me ask you the final question. So all of our women who are listening want to go faster, they want to be on the fast track to success. And in this case, let's just say more money success. What is the best advice that you have for them

Stacey Swanson (32:38): Track your money. You want to be on the fast track, you need to track what you're spending and what money's coming in, both in your business and personal, because that is the key. If you don't know where you're at, how are you going to know if you're making progress in your business? Or if you need to scale back or, you know, sell another course to make, meet a goal. I mean, tracking is everything. So that could be anything from a small spreadsheet to QuickBooks and then bell, right? You'll know the budget from that knowledge

Terra Bohlmann (33:09): Is power. And that's how we want to manage our money. We want to manage the money. We don't want the money to manage you. So I think that's beautiful. So thank you so much, Stacey Swanson with www.wealthandwomen.net. So go check out her site and it's been such a pleasure having you. I truly appreciate it.

Stacey Swanson (33:28): Thank you so much. I appreciate it too. And I love your podcast and all that you offer to women. Anything that supports women, especially in their business. I just love so love listening to,

Terra Bohlmann (33:41): Oh, thank you so much. Thank you so much. We'll talk soon. Take care.

Outro (33:46): And there you have it. Another jam packed episode of the fast track woman podcast, don't forget to visit Terra Bohlmann.com where you can get more business tips and strategies learn how we can work together to accelerate your business success or access this podcast. Episode show notes with a full transcript and links to resources mentioned today. And if you enjoyed this podcast, I invite you to leave a review so that we can help serve more women business owners to like you until next time here's to owning your time and valuing your word.

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