​​Wellness isn’t just about workouts, nutrition, or sleep — it also includes financial health. In this Goalchella episode, we explore the softer side of wellness: building money habits that support your goals, reduce stress, and allow you to live a life aligned with your values.

We dive into practical strategies for improving your finances in the New Year, including budgeting, automating savings, and using high-yield accounts and investments to grow your money effortlessly. We also cover common pitfalls, from impulse shopping and carrying credit card debt to letting money drive your emotions, and share actionable tips for curbing these habits.

Beyond everyday habits, we discuss long-term planning for big life goals — weddings, honeymoons, homes, travel, and career investments — and how visualization and prioritization can help you align your money with your dreams. Whether you’re building financial literacy, saving for a future purpose, or simply looking for small tweaks that make a big difference, this episode equips you to approach money as a tool for wellness, not a measure of success.

Links/Research Articles:

https://www.bankrate.com/authors/katie-kelton/

https://www.monarch.com/

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Mentioned in this episode:

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Today's guest is the big SISs your bank account's been begging for.

2

She's a certified credit counselor

and senior writer at Bankrate, keeping

3

her finger on the pulse of personal

finance, travel, and home buying AKA.

4

All the things we should know

before making impulsive decisions.

5

Her work has been featured in

Business Insider, USA today, fidelity

6

Investments, Yahoo Finance, and more.

7

So if you've ever Googled a money

question at 2:00 AM chances are you've

8

read her advice here to help us feel

more confident, less overwhelmed, and

9

way more empowered with our finances.

10

Katie Kelton, welcome

to Wellness Fix the pod.

11

Kelsy: So one of the reasons I wanted

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Katie Kelton: Sounds good.

13

Kelsy: you on the podcast is because I

14

new year and New Year's goals, a lot of

girls have goals surrounding finances.

15

Whether it's saving up for a

new house or a down payment or.

16

in their retirement accounts or even

more of the fun like TikTok, no spend or

17

no buy trends where it's like, I am not

18

I think those are so fun, but because

of all of that focus on finances, I

19

wanted to have you on the podcast to

talk a little bit about how we can

20

grow stronger in our financial health.

21

So what are some of the starting points

or tips and tricks that we should all

22

think about when it comes to growing

stronger in our financial health?

23

In 2026, I.

24

Katie Kelton: Yeah, thanks for having me.

25

I also agree that money is a tool for

wellness, which I think these are related.

26

And I also care about women gaining

power and autonomy over their money.

27

And so to me, money is a tool that

we use to invest in our health

28

and our growth and our happiness.

29

But that said.

30

It is good to be a steward of

the money that you have, right?

31

And so I'm a writer with bank

grade and I've been thinking

32

about money cheat codes.

33

So essentially things that you can set up

to work in your favor that don't require

34

constant supervision or constant activity,

but can still help you grow your money.

35

The first cheat code, which.

36

Everyone's gonna say, like, I already

know this is to download a budgeting

37

app, but actually use it because a

budget is the best tool you have in your

38

pocket to know where your money's going.

39

But I say an app because I'm surprised

by how many people will still say

40

like, yeah, one time, you know, I

got a spreadsheet off the internet.

41

Or like.

42

I collect my receipts and I'm like,

you can do all of that automatically.

43

Like we don't need to be

breaking out Excel anymore.

44

The nice thing about a budgeting app

is that it can automatically track

45

and categorize your expenses for you.

46

So all you have to do is make sure they're

like put in the right place and then you

47

can go in and organize your income to

make sure first you're paying off debt,

48

you've hit your savings goals, you're

paying your rent, and then you can start

49

to move the other parts like groceries or.

50

Close to make sure you're

not spending more money than

51

you're getting every month.

52

And I kind of treat it like social media.

53

Like I like to check in and see

where am I on my clothing budget,

54

should I skip that run to the

thrift store for the second half?

55

I've already hit it.

56

Basically it's just a great

way to keep tabs on your money.

57

The second money cheat code is to set

up an automatic transfer to savings.

58

This helps you with that mindset

of saving before you even really

59

have access to that money.

60

And you can do this directly within

like your paycheck compensation

61

system if you have that.

62

Or you can set up a

transfer between accounts.

63

But for example, I set up a $200 transfer

to savings every month from my paycheck

64

before I ever even get to look at it.

65

That's $400 already that

I'm saving each month.

66

You know just an easy hack to make

sure you're hitting your goals.

67

And then the third thing, speaking

of savings, is that if you have

68

money in the bank, I want you to

let it grow and not just sit there.

69

And you can do this with a high yield

savings account is the best tool.

70

This is such an important thing if you

don't know about this, is that most banks

71

offer free High yield savings accounts.

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So if you have an emergency fund just

sitting in your checking account or you're

73

saving up for your next trip and it's

just in a blank, no yield earning savings

74

account, open the new account because

you will earn between three and 5% yield.

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Like I have a $12,000 emergency fund

and I don't even add to it anymore,

76

but every year it earns like $400

and that's just from sitting there.

77

If you wanna get into investing,

like I don't think we need to

78

be day trading to make money.

79

I think all you need to do is

open a free investment account.

80

I use Fidelity, but there are also apps

and if you have like an extra $200 sitting

81

around, just put it in the account.

82

It's a good way to grow, first of all.

83

And then it also helps you keep

tabs on the economy so you have

84

something to talk about at dinner.

85

You can just say like, Hey, my

investments are up, or they're down.

86

You know, it's just a good way to

like be in tune with the market.

87

Kelsy: Do you have any budgeting apps

that you like to recommend to people?

88

Katie Kelton: Yeah, I pay $99

a year for Monarch, the app.

89

It just works for me.

90

I like how easy it is to

categorize your expenses and

91

to me, the $99 is so worth it.

92

But there are others out there too.

93

It's more about you might wanna test

it out and give it a month to make

94

sure like you're gonna actually use it.

95

That's the most important part.

96

Kelsy: I'll link that one below

just since you mentioned it.

97

I'm not a huge fan of MyFitnessPal,

but I do feel like certain.

98

Meal trackers or exercise trackers or

fitness trackers, all of those sorts

99

of things give us a nice, well-rounded

picture of our health and wellness.

100

And I think a budgeting app, I look at it

the same way I wish I was better at it.

101

This is something that I

actually need to improve on.

102

Just to get an overall sense.

103

you think you're eating healthy,

getting enough water, exercising enough,

104

but then all of a sudden you look at

your fitness tracker and yeah, you're

105

getting in that 60 minute workout

a day, but maybe you're sitting.

106

Behind your computer for the

extra nine hours, you know, so.

107

You don't really notice that until

you start tracking it, and I feel

108

like the same thing could possibly

be said about our financial, overall

109

financial picture and our budgeting.

110

You're like, oh, I might be spending $200

a month on groceries or $200 a week if

111

you're my family, which is crazy, but

you might think that in your head, but

112

then it's not until you start to track

that you're like, oh shoot, hang on.

113

I am actually spending far more than what

I thought, and it acts as this Tracker

114

just to see and actually objectively

measure where you're putting things and

115

where your money is going throughout

the entire month or quarter of the

116

year, or however you're tracking it.

117

Katie Kelton: Such a good point.

118

Yeah.

119

It also lets you make sure

you're spinning with your values.

120

Like, I don't really value, this is crazy.

121

I know, but I'm not a foodie.

122

I don't really value going

out and like eating food.

123

I.

124

value thrifting?

125

I value entertainment.

126

And so if I realize like all my money

is going towards these dinners I've like

127

committed to, and I don't have any money

left for the things I actually wanna

128

do, that makes me wanna go out less.

129

But I might not even know

that if I weren't looking at

130

it month to month, you know?

131

So,

132

Kelsy: I

133

Katie Kelton: yeah.

134

Kelsy: too, one of the recent things with

all of my friends going through these

135

big life milestones and me wanting to

support them in certain ways, if they

136

have, this is a recent experience that

I'm reminded of right now, but meal

137

train postpartum, where it's like, I

would love to contribute to that and

138

I might feel a little guilty thinking,

oh, that's my meal budget or whatever,

139

but having that picture allows you

to be like, oh, hang on, actually.

140

I do have this extra that I can

give to my friend and support

141

her in this like timeframe.

142

So even when it comes to not just

self-focused purchases or self-focused

143

desires, but like you said, value-based

spending, even if that is on, you know,

144

supporting one of your friends in her

recent life change or whatever it is.

145

Katie Kelton: Totally.

146

I love that you can even

have a gifts budget.

147

I have a gifts budget.

148

Kelsy: that I need to have one

because it's those little things,

149

Katie Kelton: Yeah.

150

Kelsy: like I don't have a gifts budget,

but I always think, I'm like, oh,

151

how much can I spend on this friend?

152

Even if I, I mean, obviously I'd

want to spend unlimited budget on my

153

friends, but that might not be the

healthiest when it comes to my own.

154

Financial health, I guess.

155

But

156

Katie Kelton: Mm-hmm.

157

Kelsy: those things that I want

to start to be more aware of with

158

my own finances of how much I can

actually give to other people.

159

Not even just charitable donations

to broad organizations, but these

160

little things where it's like,

oh, my friend had a hard day.

161

You know, I want to treat her to this.

162

Or, oh, this meal train postpartum, or.

163

A friend's family member passed away

where I would love to be able to support

164

them in that way, and think having a

better grasp on my overall financial

165

health and a gifts budget or something

like that would be very helpful for me.

166

I also agree with Your point of bringing

more women to the table of financial

167

talks, and I have noticed this hugely in

my own life, the more that I have started

168

to understand our financial picture, and

luckily my husband is super gracious in

169

teaching me these things and my dad has

taught me these things, but it's not

170

until I have started to care more about

it that I've realized it's actually.

171

Hugely beneficial for us as women to

have this understanding, and I feel

172

like a lot of women are maybe pushed

away from that table a little bit more.

173

So I am also, resonating with what

you said about wanting women to

174

understand finances a little bit

better, which is why I'm grateful to

175

have you on as a female talking about

finances and giving us just a basic

176

rundown and a basic starting point.

177

Katie Kelton: Oh my gosh.

178

Yeah.

179

we talk about standards that were

set by men, like two examples that

180

come to mind are the fact that.

181

The AC temperature in an office is

usually based on like an older man.

182

And the second thing I'm thinking

of is how seat belts were

183

designed to work with a man.

184

And in a lot of ways, I think that

money guidance was also driven by men.

185

I'm thinking specifically

of like Dave Ramsey.

186

And those mindsets are not necessarily.

187

The best, nor are they.

188

The ones that are most helpful for women.

189

Women have different things

we wanna spend our money on.

190

We're smarter at making certain decisions.

191

For example, the idea that you

shouldn't have any debt in my mind

192

is an outdated way of thinking.

193

Like especially women, depending on

where you come from, debt can be the

194

tool that takes you to the next level.

195

Not talking about credit card debt,

I'm talking about like if you need debt

196

to elevate your education levels or

your, your wealth to start a business.

197

Like those things benefit women and I

also don't prescribe to total deprivation.

198

I think that it's good to want to.

199

Treat yourself or add joy to your life

or your friend's life like you're saying.

200

It's more about figuring out

how that fits in your budget.

201

So anyway, I think there is a take

on money that women can have that's

202

much more helpful to our finances.

203

Kelsy: Speaking of sort of that like shift

from this male dominated thought process

204

behind finances to more of things that

women care about it when it comes to.

205

Finances.

206

I like to think of my financial

health of things that I can add and

207

then more of like a closet clean out.

208

So I, this is, this is

209

Katie Kelton: Hmm.

210

Kelsy: me that is thinking about this,

but there certain mindsets or money

211

habits that we should closet clean out in

212

Katie Kelton: Yes.

213

I like this idea too because it's

not about doing more, adding this

214

thing to your list, it's more about

just slightly tweaking your habits.

215

One of the things I write about a lot

at Bankrate and probably 'cause I'm

216

so guilty of it, is impulse shopping.

217

You're scrolling on social media.

218

You see this really cute set that

an influencer's wearing and you just

219

need it right then, or I thrift a

lot and it's really easy to have the

220

impulse mindset when you're thrifting

because you think like, if I don't

221

get it today, it's gonna be gone.

222

But if you do that for a $50 vintage

jacket every month, like, okay, now.

223

You don't need another jacket,

like there will always be more.

224

Two ways that I prevent this are the wait

24 hours rule, which is like, I can always

225

go back tomorrow if I really want it.

226

It will still be on Etsy in 24 hours.

227

That lets you look at your budget,

look at your closet, make sure

228

it's like actually a good choice.

229

And this could include a trip.

230

Or an experience too, by the way.

231

This isn't just like a piece of clothing.

232

And then also to create

friction between that purchase.

233

And so what I mean is like, it's not

as easy as just having your credit

234

card information saved on TikTok

shop and you're like, perfect at de

235

cart mail or like the Amazon app.

236

Oh my gosh.

237

I had to delete the Amazon app for my

phone 'cause it was getting too easy

238

to just order off of some, you know,

I don't feel like going to the store.

239

I just need more shampoo.

240

But then I was.

241

Just wasting money and wasted

cardboard and shipping.

242

And so I deleted the app off my

phone, but creating friction between

243

your wants and that purchase.

244

But like I was saying, I'm not

a huge fan of total deprivation,

245

so it's okay to want things.

246

that's when that budgeting

app comes into play.

247

Look at how much money you have,

how much is left for that month,

248

and instead of shopping impulsively,

you can shop strategically.

249

Another habit that I think we

could stand to break is carrying

250

a balance on our credit cards.

251

This I thought was.

252

Kind of something everyone prescribed too.

253

'cause I was taught this from an early

age, like always pay off your balances.

254

But in speaking with people at work and

in personal life, I have realized this

255

isn't necessarily a universal idea.

256

People will put vacations or lifestyle

purchases on a credit card and use

257

it as a way to pay it off over time.

258

But credit card interest is one of

the most expensive forms of debt.

259

it's like.

260

19% right now, which is actually a

little lower than it's been, but the

261

highest cards can have a 30% rate.

262

And the thing about credit card

interest is that it compounds.

263

So if you pay a little bit in interest

today, tomorrow you're gonna pay a

264

little bit more on top of your interest.

265

It's just a dangerous game to play.

266

So.

267

Paying off your balance in full if you

can, should always be like number one

268

priority when it comes to looking at

your money at the end of the month.

269

And then a third habit I think

that we could stand to break is

270

letting money drive your emotions.

271

And I say this one with all the love and

grace because I used to have a lot of

272

money anxiety, like when I would check

my money at the end of the month and say

273

I spent a little too much, or I didn't

have enough left to save, I felt like.

274

Weird guilt and anxiety when really

money is a lifelong practice,

275

it takes time to be good at it.

276

But if you're feeling, you know,

fearful or anxious about it, you might

277

be more inclined to impulse shop.

278

'cause you're like, I'll

never get the hang of it.

279

Let me just buy this thing

to make myself feel better.

280

Or sometimes like loneliness

can drive purchases.

281

And I would say overall,

the more that you can.

282

Separate your emotions from money

this year and just approach it

283

very rationally, like as a tool.

284

Nothing more, nothing less.

285

It's not a reflection of your

character that will help you just

286

have more base around money and

make better decisions with it.

287

Kelsy: I was talking with a habit

coach yesterday, and she's a

288

professional behavior scientist.

289

She studies behavior for a living, and

especially how habits are influenced

290

by our behavior and changed by

our behavior, and she was saying.

291

That she actually doesn't even like

looking at habits as good or bad, more

292

as productive and unproductive, and that

we sometimes develop these unproductive

293

habits like impulse buying or impulse

shopping, or filling that need with a

294

material item due to a certain void.

295

And I've noticed that within

myself over the past few years

296

probably, is that anytime I notice

a void in my life, whether it is.

297

stress.

298

Honestly, if we're being for real, it's

usually stress or where I feel like

299

maybe I'm not as far up, professionally

or personally or whatever that I

300

wanna be, that's when I will revert

to those impulse shopping behaviors.

301

But it took a long time for me to

realize that and I'm not perfect either.

302

material items or.

303

Material things is something

that I revert to constantly.

304

So I've realized that within my own life.

305

Just knowing that, what is

the mental state that I'm in?

306

And like you said, I think I

need to be better about creating

307

that friction, creating that

barrier me and that purchase.

308

Giving me time to, I guess, reflect on

what void is that filling within my life.

309

Katie Kelton: I think that a lot of

purchases too, like this is marketing

310

1 0 1, is that they're aspirational.

311

Like you see an outfit or you

see this like trip experience

312

or a concert and you're like.

313

I wanna be the kind of person who wears

that outfit or who goes to that concert.

314

Or even with like, you know, now with

GLP ones and things like that, those are

315

expensive, but I wanna be the kind of

person who looks like that, you know?

316

And I think that instead, I've been

trying to teach myself to reframe

317

how I see myself, and also using

the things that I already have.

318

This could be as little as like

looking on Pinterest and, and

319

looking for outfits that use clothes

that are already in your closet.

320

Like now you're the kind of

person who wears that outfit.

321

You already have a white tee, a jacket

and track pants, like, you can do this.

322

Or you know, a trip.

323

I reframe by thinking about the trips I

already have lined up or the trips I'm

324

dreaming of that maybe they're a year or

two in advance, but the savings I have

325

now will get me there in the future.

326

Like.

327

In some ways, you're already the person.

328

You already have the tools to

become the person you wanna be.

329

Like that impulse purchase isn't going

to get you closer to that person.

330

Kelsy: I also think the more

impulse purchasing that I do, the

331

more I feel like it controls me.

332

And so that's this sort of.

333

Cycle that I find myself sometimes

getting into, and I'm not a fan of

334

complete deprivation, but I have found

benefit with fasting from spending on

335

myself for things that I don't need.

336

I'll do it sometimes during Lent coming

up, I guess where I don't spend on

337

clothes because I am a clothes spender.

338

I enjoy, you know, finding

new clothes and, wearing them

339

in style and all of this.

340

But if I see something I

like and I buy it, that.

341

kind of promotes the next behavior that's

similar to that for me in my own mindset.

342

And so I've realized that sometimes when

I do a temporary spending fast from that

343

impulse buying especially, or from just

material item buying in general, I get

344

this sense of freedom that I actually

have the control to make that decision.

345

And the fact that it's.

346

Giving me back that freedom and that

control, even though it seems like

347

deprivation a little bit from the

outside is a little counterintuitive,

348

but I've noticed that has really

helped me to be like, no, I do

349

not have to buy that in order to

become this person that I wanna be.

350

it's this taking back of control by

controlling some of those thoughts

351

that enter my head anytime I do want to

make that material purchase or buy that

352

plane ticket to another destination.

353

Katie Kelton: I love that a fast

also eliminates the paradox of

354

choice when you're like, should I

buy this thing or this thing, or

355

I have money left for this thing.

356

And if you just say, I'm

not doing that right now.

357

You're right in that it frees up a huge

chunk of your brain from just having to

358

make one more decision, and then you can

make all your other decisions better.

359

That's a great idea.

360

I should try that.

361

Kelsy: it's been fun, honestly, and I

think it's part of The individuality

362

of finances in general is that this

363

Katie Kelton: Mm-hmm.

364

Kelsy: me, but it might not benefit

someone else because like you said,

365

that deprivation some people, I mean,

I can come at it from an exercise or

366

dietetic standpoint where it's depriving

yourself and then all of a sudden

367

after that 75 hard challenge or that.

368

Extreme dieting behavior

you binge on the other end.

369

So I feel like that's a cycle to not get

into when it comes to finances as well.

370

But for me it has been very, very helpful.

371

I'm curious,

372

Katie Kelton: Yeah.

373

Kelsy: not carrying a balance

on your credit card as another

374

thing that we should shed in 2026.

375

What are your thoughts on the

buy now, pay later, or Afterpay?

376

even trend, but I guess business that has

come about I feel like targeting women.

377

Katie Kelton: I'm so glad you asked.

378

I think that.

379

Buy now, pay later.

380

At its core, like a lot of, I'm

in the finance space and a lot of

381

financiers advisors will say that

it's like the devil don't do it.

382

It's that you're robbing future

you to pay for current uses needs.

383

I don't necessarily think that's true.

384

I think in some ways buy now, pay

later is better than carrying a balance

385

on your card because it's usually

very low interest or no interest.

386

I think that it is a dangerous game

to play if you are financing, like

387

you mentioned, targeted towards women.

388

If you're financing sort of small

luxury goods like makeup or candles.

389

I knew someone who once said

that they put an order of 30

390

candles on buy now, pay later.

391

And I was like, why?

392

why don't you just buy one at a time?

393

you're not gonna use them all anyway.

394

So anyway, I think that my rule of thumb

with buy not pay later, 'cause I'm not

395

anti pay later, I have used it before.

396

One thing I use it for is my ski pass.

397

The reason is that it's extremely

expensive in my mind and I can

398

break it out into three purchases

and I do get it zero interest.

399

And so in that sense, I'm

extending my cashflow.

400

My money is actually earning more

by sitting in an account than it

401

is if I paid it all right away.

402

I'm earning more by spreading it out.

403

And I also benefit from the past

long after I've paid it off.

404

So you know, ski season's

like six months long almost.

405

If you really try, and I will

have already paid it off by then.

406

It's the purchases like DoorDash

that you consume immediately and then

407

you'll still be paying off later.

408

That I wouldn't recommend doing.

409

Kelsy: But it's putting that extra thought

process into it before we actually follow

410

through with a buy now pay later order, or

an Afterpay order or something like that.

411

Katie Kelton: Yeah, and I honestly

just think it's worth asking.

412

If you're checking out and you're

considering it on buy now, pay later.

413

'cause they give you that option.

414

Now, do you have the

money to pay for it now?

415

And if you don't, should

you be buying it at all?

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Kelsy: Totally.

417

Yeah.

418

Just that extra little thought

process because I've been listening

419

to podcasts and different things and

talking about the Buy now, pay later.

420

Business in general.

421

And then I see it when I'm checking

out about to buy, you know, a top

422

or jeans and I'm like, I wonder how

many people are actually using this.

423

So I was just curious even on, on

your take cause it did seem as a

424

female who makes typically like.

425

purchases of, you know, clothes

and, and makeup and skincare

426

and things that I enjoy.

427

I see it on that and I'm like, you

know, are people using it for these 20

428

or $30 purchases or these 30 candles?

429

So I, I like that

430

Katie Kelton: Mm-hmm.

431

Kelsy: said a favorable use for it,

I guess, too, where you're like, my

432

ski pass makes sense for me to use

it on there with the 0% interest too.

433

Katie Kelton: Yeah, they absolutely are.

434

And I'm gonna go into like.

435

You know, mom mode for a second.

436

I'm not a mom, but buy now

pay later, historically hasn't

437

affected your credit report.

438

Whereas obviously if you make

a late payment on your credit

439

card, that hurts your credit.

440

But now in a, in a nutshell, it is.

441

Now, if it's not yet,

it will in the future.

442

So using it responsibly could.

443

Start to make or break your credit score,

which you know, as strong and empowered

444

women, we wanna have good credit.

445

So don't think of it as something you

can just like forget about and not pay.

446

'cause it does matter.

447

Kelsy: Can you define and just briefly

for, 'cause I hate the jargon that's

448

used in, you know, bro finance world

for people who might not understand

449

interest, who might just be like.

450

Very, very new and

understanding credit cards.

451

I know I was very, very

new at one point in time.

452

I didn't understand what interest was.

453

I didn't understand

what a credit score was.

454

Can you just go over those briefly

on why we should be concerned about

455

'em and what they actually mean?

456

Katie Kelton: Interest in a

nutshell is to protect the lender.

457

If you don't pay them back, right?

458

They charge a little bit more on top.

459

But the reason it's dangerous, especially

with a credit card, is that it compounds.

460

And so if you have an a PR of 30%,

that's annual percentage rate.

461

then you're getting charged a little

bit in interest every day on your

462

balance, and then the next day

you're getting charged interest on

463

top of the principal plus interest.

464

So that's why it's snowballs so quickly.

465

It can also work in your favor.

466

It's worth saying this is why having a

401k is so important because compound

467

interest, there are calculators

out there that can show you the.

468

Incredible amount of money you can earn

on a relatively low principle just by

469

accruing compound interest over time.

470

But the same is true for a

credit card, and that's the

471

money that you end up owing.

472

Kelsy: And then credit score.

473

Why is that a concern?

474

How does that affect different things

long term with our financial health?

475

Katie Kelton: A credit score is

essentially a score that lenders

476

look at when they're considering

whether or not to loan money to you.

477

it's a measure of your credit

worthiness, and it's based on

478

things like your payment history.

479

Have you ever paid late

or do you pay on time?

480

It's also based on your credit

mix and your length of credit.

481

There's a lot of factors that go into

your credit score, but in general, If

482

you've used credit for a while and you

have multiple forms of credit, you'll

483

end up probably with a good credit score.

484

And this matters because your

credit score affects your approval

485

rate for credit cards especially

the best ones, that can give you

486

really good rewards on what you pay.

487

It also can affect your ability to get

approved for a car loan, a mortgage.

488

And the important part is that it

affects your interest rate on those

489

loans, and so you'll end up paying

more in the long run if you have a

490

poor credit score just in interest.

491

So in general, you really wanna

aim to have good credit as much

492

as you can, and the way that

you use the credit you currently

493

have directly affects your score.

494

Kelsy: So speaking of those big purchases

for people and girls who have goals

495

of, like I said earlier, saving enough.

496

For a down payment on a house or investing

more into their retirement accounts, or

497

maybe funding a wedding or a honeymoon

or basically bigger life purchases.

498

Do you have any tips and tricks for

people who are up for those bigger

499

purchases or looking towards those

500

Katie Kelton: I mean, I would

start by making sure you know what

501

those goals are, writing them down

because everyone's are different.

502

Like I was thinking about the

differences between you and me, I was

503

thinking how, like you and I have been

friends since first grade, we're the

504

same age, but you have been married

for how long have you been married?

505

Kelsy: a half.

506

It'll be seven in May.

507

Katie Kelton: Okay.

508

Kelsy: Wow.

509

Katie Kelton: so going on seven years,

you had a wedding almost seven years ago.

510

You own a home, you own a business.

511

You travel internationally a lot,

whereas like, I'll be getting

512

married this year and I'll be 31.

513

I don't own a home.

514

I tend to travel a lot in state, You

and I are on slightly different paths,

515

and so it's important to know where

you're headed and not feel pressure

516

to like buy a home in one year, get

married in two years, have kids in

517

three years, like everyone's different.

518

But if you do know where you're headed,

one of my favorite tips is to open a

519

savings account that's directly correlated

to that goal and it's, you can have

520

as many savings accounts as you want,

and you can also have them either as

521

a high yield savings account with your

bank, or you could even set up like an

522

investment account with an investor.

523

Or investment platform as long as

you don't need the money right away.

524

'cause it's a little less

liquid if it's invested right.

525

And then you can watch that money

grow, whether you wanna set up an

526

automatic transfer, however much you're

hoping to put in each month towards

527

that account that you've set aside.

528

Or you can do it manually just

depending where your budget

529

landed at the end of the month.

530

But as you watch your house fund or

your Italy money grow over time, it's.

531

So empowering to want to

continue to save for that.

532

Because sometimes I've noticed people

will have, like, they'll say, I'm

533

saving up for a trip, and I'm like,

where's your money for that trip?

534

And they're like, oh, it's

in my savings account.

535

And I'm like, you mean the savings account

that you also pay for, car repairs for?

536

You know it's just, it's not a

great way to track your success.

537

And so I would recommend setting

up different accounts and then

538

also going back to the budget.

539

Be really proactive about

like how much money are you

540

going to need for that thing.

541

Let's say you're getting married

in a year, so you might want,

542

I mean, I'm hoping for 15,000.

543

Some people it's like 50,000.

544

Okay.

545

So then do the math and figure

out like, how much do I need to be

546

setting aside each month for this?

547

How much do I have that's

given to me as a gift?

548

Like do the math.

549

And then once you know how much you need

to set aside each month or allocate.

550

Set up that automatic allocation again,

so you don't accidentally spend it on

551

something that's just like not worth it.

552

You want it for your wedding.

553

Kelsy: Katie, thank you so much for

coming on the podcast and sharing

554

with us all these sort of financial

tips, tricks, money, habits that we

555

can all implement in the new year.

556

I know I learned a lot from you.

557

I like that it is female focus

because like you said, there's.

558

A whole different side and mindset

shift that happens when you talk

559

about money and spending and

investing in finances for women.

560

And I think there's a big disconnect

in the language that's sometimes used

561

with financial world in general between

men and women and maybe this barrier

562

to entry that I know I have felt as a

woman trying to learn more about her

563

own financial health and wellness.

564

So I appreciate you coming on and

breaking that all down for us today.

565

Katie Kelton: Of course.

566

Thank you.

567

I would also love to say, I'm

always just a DM or an email away.

568

Like I love talking to people about my.

569

It's even part of my job.

570

So if you wanna like vent or

have a question any of your

571

listeners, like let's connect.

572

Kelsy: leave all of those links below.

573

In addition to all of the links,

the Monarch Budgeting app that

574

she uses, and just her links

in general, if you're curious.

575

She writes amazing content

on finances so if you're ever

576

curious about a certain topic.

577

You can look into some of the writing

that she has done in the past,

578

and I think that'll set people on

a very, very good starting point

579

on questions to even ask you.

580

I hope you guys enjoyed this episode.

581

You learned a lot, and I'll see

you guys again on the next episode

582

of Wellness Fixes to the Pod.