SNM270 Penny Saved is a Penny Earned with Gabbie Kelly

Welcome to the Serve No Master Podcast! This podcast is aimed at helping you find ways to create new revenue streams or make money online without dealing with an underpaid or underappreciated job. Our host is best-selling author, Jonathan Green.

Today's guest is Gabbie Kelly is a firm believer in the power of breaking the silence around money and financial literacy. She believes that our views on money are heavily influenced by our family history and the taboo surrounding discussions about money in our culture. This belief led her to advocate for the inclusion of financial literacy, personal money management, and budgeting in high school and grammar school education. With her expertise in this field, Gabbie aims to help aspiring entrepreneurs shed this extra weight by teaching them the necessary skills to navigate the financial aspects of business ownership. Recognizing that financial literacy is a skill that can be learned and developed.

 In this episode, Gabbie Kelly talks about exploring the topic of financial management. Gabbie shares their personal journey of paying off a significant amount of student loan debt using a variation of the envelope method. They discuss the potential downsides of extreme budgeting and the challenges of finding the right tools for financial management, such as banking institutions that cater to the needs of online businesses. The conversation delves into the importance of understanding our own 'money story' and the impact it has on our beliefs and behaviors surrounding wealth. Gabbie offers practical advice on managing cash flow, setting clear financial goals, and living by example for our children. 

Notable Quotes

–     “The biggest need and the biggest value I could give them was tips on how not to run away from managing their money.” – [Gabbie Kelly]

–   “In order to help our kids, we need to help ourselves first… if we cannot be that person, live that life, integrate it within our daily habits, then our children are not going to pick up on that.”– [Gabbie Kelly]

–  “The key and foundation of what we use to cash management strategy is breaking out your goals for salary, your own owner's compensation, profit, building in profit into your business, taxes, saving for taxes.”– [Gabbie Kelly]

–  “I realize that a lot of people have a self sabotage. They have these beliefs like, money is the root of all evil, and money changes you, and it causes us to sabotage our lives and sabotage our businesses because we don't want to become evil, right? So there's a part of us that's always stopping us if we have those core beliefs.” – [Jonathan Green]

–  “I wish every time I get a payment… every time a deposit comes in, split it up by percentages. And they look at me like I'm crazy. And I don't know why it's such a hard feature… even with a lot of like these cool, newer, online-only super cool banks, they still can't do this most basic thing.”- [Jonathan Green]

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