About the Guest(s):

Kate Welker: Kate is a seasoned financial planner known for her comprehensive approach to personal finance. She specializes in empowering individuals and families to make informed financial decisions, providing practical advice tailored to unique situations.

Kerrie Beene: Kerrie is a financial expert with a wealth of experience in investment strategies and financial planning. Her keen insights and expertise help clients navigate complex financial landscapes, ensuring they understand the intricate details of their investment choices.

Episode Summary:

In this illuminating episode of Money Roots, hosts Kate Welker and Kerrie Beene dive into common financial mistakes, particularly those that women often make. This episode sheds light on the patterns and pitfalls in financial decision-making, offering practical strategies to avoid them. From the importance of not listening to others blindly, to the dangers of overextending oneself both in time and money, this conversation is packed with valuable tips.

The hosts emphasize the significance of creating a personalized financial system that works for you. They discuss how ignoring finances can lead to unwanted stress and financial penalties, and how setting up automatic payments and regular check-ins can help maintain control. Additionally, this episode touches on the importance of investing wisely. Kerrie and Kate share insights on overcoming the fear of investing, highlighting that women often excel as investors once they get started.

Key Takeaways:

• Tailor Financial Advice: Be cautious about taking financial advice from others as their situations might not match yours.
• Avoid Ignoring Finances: Ignoring financial matters can lead to bigger issues. Set up systems like automatic payments and regular check-ins to stay on track.
• Don’t Overextend Yourself: Overextending your time or money can lead to stress and poor financial decisions. Prioritize your well-being to avoid burnout.
• Invest Wisely: Educate yourself about investing. Women, in particular, can be excellent investors when they understand their investments and let them grow.
• Create a Personalized System: Find a financial management system that works for your lifestyle and sticking to it can help you stay organized and reduce anxiety.

Notable Quotes:

1. “Just because someone says something doesn’t necessarily mean that they’re an expert on the subject or an expert in your life.” - Kerrie Beene
2. “Don’t should on yourself. It’s in the past; maybe there are different ways you could have approached it, but everyone has their own path.” - Kate Welker
3. “It’s your money, so at the end of the day, you can make a decision later before you invest in something that you don’t fully understand.” - Kerrie Beene
4. “If someone is making you feel like you are dumb or unintelligent because you’re not doing something, do your own research first.” - Kate Welker
5. “We talk about conflicting goals a lot in meetings, too, so it’s really important not to ignore them and making sure your resources are put to the goals that are most important to you.” - Kerrie Beene

Don't miss this episode filled with actionable advice and insights that can help you avoid common financial pitfalls and build a more secure financial future. Tune in to Money Roots and continue nurturing your financial health!