OUR HOSTS: 

Corinne Foxx - @corinnefoxx

Natalie McMillan - @nataliemcm and @shopnataliemcmillan 

What we're drinking: Casa Castillo El Molar 

MEET OUR GUEST: 

Chloe Elise - deeperthanmoney.com, @deeper.than.money, and @deeperthanmoneyco 

ABOUT OUR GUEST: 

Chloe Elise is the CEO and founder of Deeper Than Money, which is a company dedicated to empowering and educating people about money. She watched her own life transform after paying off $36,000 of debt in 18 months and becoming debt-free at 22 years old. 

After seeing the lifelong impact that getting her finances together would have, Chloe became a certified financial coach to show others how to experience that same freedom. She went on to save and invest over $400,000 by the time she was 25 and grew Deeper Than Money to a multiple six-figure company within the first year. Having mastered her personal and business finances, she spends her days passionately helping people build real wealth without giving up the things they love.

TOPIC: 

Money therapy is officially in session! Today, we’re talking with Chloe Elise, CEO and founder of Deeper Than Money, about reaching your financial potential in 2022 and beyond. We break down the barrier of entry to personal finance and discuss how to rewrite subconscious beliefs and misconceptions that many of us have surrounding money. 

In this episode, we discuss:

• Where Chloe’s passion and excitement for personal finance comes from 
• Major mindset shifts that Chloe has made in order to take control over her finances 
• Updating your financial goals to actually reflect your priorities and lifestyle, not what some ‘finance guru’ says they should be 
• The role of a financial coach and how they can help you create a spending plan 
• Letting go of the façade of wealthy lifestyles on social media 
• Setting sustainable, realistic, and achievable financial milestones for 2022

END OF THE SHOW: 

Corinne and Natalie introduce Hottie of the Week: Serena Williams

WINE RATING:

Casa Castillo El Molar =  6/ Serena 

WRAP UP:

To wrap up the episode, we play recent obsessions. Corinne is hooked on Real Housewives of Salt Lake City and Natalie can’t get enough of Mick Jagger’s Instagram. 

We have a brand new newsletter for our Am I community. You can sign up for the newsletter on our website: amidoingthisrightpod.com

You can email us for episode ideas or Random Advice: amidoingthisrightpod@gmail.com

Follow us on Instagram: @amidoingthisrightpod 

Don't forget to rate and review the podcast! It really helps us grow!

Episode 73

[00:00:08] Natalie McMillan: And I'm Natalie McMillan.

[00:00:20] Natalie McMillan: And each week we cover a new topic and we pop open a new bottle of wine.

[00:00:25] Chloe Elise: folks.

We love it here. We love

Yup. Yup. And we're going to be talking with Chloe about how to change our mindsets around money, how to set financial goals for this new year and how to set ourselves up for making the most

[00:01:05] Corinne Foxx: that for us. I really do my God. I totally believe that. And then at the end of the episode, we're going to play recent obsession, talking about our recent obsession going into the new year.

Let's first drink our first glass of wine for 20

Oh, well I technically speak French, but I don't know any of it. I've never taken a Spanish class in my life. Um, you're really good at pronouncing. Oh, thank you. Um, so yeah, I don't know what this is, but I do know it's for Spain.

[00:02:08] Corinne Foxx: in Teddy's song Teddy songs?

I say that instead of saying interesting. Yes.

[00:02:24] Corinne Foxx: Yeah. And in terms of some housekeeping, you guys, it's a new gear and we have a fun, cutie, little newsletter that you guys can sign up for.

So you guys, don't miss an episode this year. You can go to, am I doing this right pod.com to sign up? We will never, ever, I would never see him. You know, I wouldn't do that to you. We will never do that, but it's so fun. And then you can stay in the loop on all the fun episodes we have coming up. Uh, very exciting.

And

[00:03:14] Corinne Foxx: We would absolutely love it, but not let's get into the episode because it's a new year and it's time for us to start figuring out where we want to go. Where are you going to be? December 20, 22. And I feel like a lot of people. Or also similarly in the same boat as us, it's like, it's a new year.

You set resolutions or you start, you know, thinking, okay. Like what do I want to where I want to be? And so this is like the perfect back. Not back to school, it feels like back to school, it feels like it's fresh start. Yeah. Yeah. Fresh new pair of kicks. Exactly. But let's intro Chloe before we bring her on.

Yeah. So

That's really what money is. It's freedom. It is. Yeah. And she went on to save and invest over $400,000. By the time she was 25 and grew deeper to money to a multiple six figures within the first year. She is a master monies. Yes. Having mastered her personal and business finances, she spends her days passionately helping people build real wealth without giving up the

And I followed Chloe on Instagram for a long time and I love the content. She puts out so relatable and you know, it's targeted towards women, but it's really applicable to anybody. And I just always applaud someone who is. Trying to expand financial literacy, because I think for so long, especially for women, it was for the elite and it was for the wealthy and this information was yes.

Under wraps

[00:05:23] Corinne Foxx: Yeah. Like

You know what I mean? And so that's why, what Chloe is, is bringing it to

[00:05:49] Chloe Elise: Hello, Chloe. Oh, my goodness. We're so

We just got older and we were like, we don't know anything about anything. So we have to teach ourselves this. So I'm curious if that's how you became interested in personal finance or how did you first start learning about it? Were you like an accounting major or. I feel like definitely not.

And I grew up in Iowa in a small town and I knew two things about money growing up. Like I was taught two things. The first thing was you don't talk about it. Like you do not talk about. It's private. It's none of your business. I don't don't ask any, any questions. And the second thing is that you had to work really, really hard just to get by.

That's really the only two things I re I can really remember being taught, growing up about money. And so I had my first job when I was 14. Making money. And then I would work more hours to get more money, but I still, I didn't even know what to do with it. I didn't even have like a debit card until I went to college.

And then when I had a debit card, it was just kind of like this like fancy magic card where I would just use it until it declined. And then I'd be like, oops, okay. I need to work more. And then I'd pick up more hours. And so. I had no idea what was going on. I went to college, I took out debt. I had no idea how much.

I just thought everyone had debt. So I was like, I don't want to think about that right now. We'll deal with it later. I just thought everyone like paid off debt, paid off his loans, our whole life. So I was like, okay, whatever it is, I don't care. I don't want him to want to know. And then when to call. I was like a junior in college and I was just having like meltdown after meltdown because I was missing out on so much fun stuff with my friends in order to work, to make money.

When I felt like I never had money. So I was like, what is the point of this? I felt like, no matter how much I worked, I would just like blow it on something that didn't even matter to me. And then I'd have nothing and then I'd miss out. And it was just this endless cycle. And so I ended up, I was going through break up and you don't like, you go through, break up and you're like, I wanna like cut my hair and like do all these things.

Right. I want to feel control. And so for me, the weird thing that I grasped onto was finances. I was like, I'm going to fix this, I'm going to fix this one thing. And I just started, I went to the library and was like, checking out these books that were like finance 1 0 1. And I was reading these finance books.

And I was like, what? That, like, what is this? I mean, I don't even know what they're saying. It was so boring. It was so confusing. I was an economics major. So I took banking classes. I took finance classes, but they were so boring and none of it applied to me. I'm like, I don't need to know how to refinance a mortgage today.

I need to know how to, like, when I go out with my friends, I'm not ordering $90. That pizza, when I come home at 2:00 AM, right? Like that's needed. I went on this journey, myself of trying to listen to these other people, but not, not knowing like what applied to me. And I just tried and failed and tried and failed until I found how to do it in a way that makes sense for someone who's in their twenties and who.

Just wanting to prioritize these other things. Then what, somebody maybe at 50 years old is trying to prioritize. And so I went on to pay off like $36,000 of debt in 18 months. And it changed everything for me. I mean, I was the girl who literally, I would be buying groceries. My card would decline and I would say, oh, I left my other card in the car.

And then I would struggle like that. That was me. And then I, you know, went from there to paying off this debt. And when I was able to do that and kind of change my identity around money of like, oh, I went from being the broke girl to the girl who could do this. I was like, what else can I accomplish? What else can I do with money?

Um, and so that's really where my, my passion for it changed. Um, and then also just my excitement of like, if I could do this, I can show other people how to do this too. And how empowering. For other well, too. Right? So that's kind of, that's a little bit about my journey, how I got,

And I love how you took something like a breakup and you're right. Like when you go through a breakup, you want to reinvent yourself, you want to get the haircut. You want to, you know, Do something big and radical and you saw this problem in your life. You're like, okay, well, I have the time I have, you know, the motivation to look at it.

And you built this incredible Nivea, huge brand, all deeper than money, which is, you know, all about personal finance and you also make. Fun and accessible. And that's something I think, I don't know if it's like with age that happens, that it becomes more fun because it becomes more like applicable to you.

But like, I think for us, like, we're starting to be like, this is actually interesting, but I do think it's because people like you have made it. More targeted towards women and like what we actually care about. And it's not these like ancient textbooks we have to like dig through. Right.

Yeah. And talk about a post breakup glow. I mean, it's really all your dead. That's kind of like the biggest thing you could do be like, look at me. Right. Well, you also, we found out you also saved like $400,000 by the time you. 25. So we're curious, what were some of these, like major shifts you made in your life and in your mindset that got you from.

Driving away from the grocery store to kind of balling out

Around it. It's like, oh, that's how you're spending your money. Oh, you're renting while you're wasting money. Oh, well you're doing this. Oh, well you shouldn't send your money on that. Oh, you bought that purse. How much was it? You could have, like, there's just so much judgment and so much shame. And so in the beginning, when I was trying to get ahead with money, All of these like taught financial gurus were like, you should not say the inside of a restaurant, if you have debt.

And I'm like, oh, okay. I'm I'm 20. And in my senior year of college, but I guess I should just not go to a rash, but because I have student loans, like it, just, to me, it was just like so crazy. And so I just kept thinking like, oh, I would either skip it and then I'd feel bad. Cause I'd missed out on a memory or I go and then I'd feel guilty.

Why am I listening to someone else's priority is of like, you know, most of the financial gurus, that point where like six year old white man, I'm like, why am I listening to these six year old white men who have completely different priorities than me? Tell me what I need to do with my money. Like that's so wild.

And so that was number one. Understanding. I have different priorities than someone else. Like I'm in my twenties. My top priority is like living my life and my friends. And so is my like, is what I set aside to spend on like going out and getting drinks with my friends higher than probably maybe mine will be in five years.

Sure. But who cares? It's a priority of mine. I'm invested. In that time I'm investing in those memories and like that's where I want to spend my money. So number one, the biggest thing was understanding my priorities and then dropping the shame of other people's judgment for me to spend my money. How I want to, that was, that was number one, because once I did that, You're able to drop the, the, a lot of the cycles that you're stuck in.

So for me, I was stuck in this cycle of like, oh, someone else told me I shouldn't go to a restaurant. So I shouldn't, I shouldn't, I shouldn't. And then I, you know, sacrifice, sacrifice, sacrifice, discipline, discipline. And then I get to a point where I'm like, screw it. I'm going, I'm not going to miss out on this.

So then I go and because. Well, you know, I haven't been able to spend, and now I am, I go crazy and I spend way more than I want to. Then I come home, I feel guilty. I'm like, oh, why did I do that? I'm so mad at myself. I shouldn't go anymore. And then it's just endless cycle until like it's a bubble and then it bursts and I'm like, screw it.

I'm going to do it. And then. You know, it goes back to the top. And so allowing yourself to say no, it's okay that I spend my money in alignment with my priorities. It takes away that like bubble from bursting because you're allowed to spend money and you're allowed to do these things. So that those are like two of the biggest things.

Um, and then from a financial perspective, actually I have one more thing. That's like, yes, go for it. I like to call it like deeper than money. Right. Because it's like these things, aren't like, here's how to open a Roth IRA. These are the things that are deeper than money that you have to think about in, and then add it to financial literacy.

So that the other thing I would say is I stopped viewing myself as the broke girl, even when I was like getting hit with an overdraft fee content, like I was like calling the bank, like, hello, can I get that waived again? Thank you. Sorry. It was an accident again, when I stopped viewing myself, because at that time I would be like, oh, I am so broke all the time.

Oh my God. I have no money. I'm so dumb. I don't know numbers. That's like how I talked about myself and it was reinforcing those beliefs of like, I am bad with money. Well, if I'm bad with money, why would I pay attention to my finances? Why would I try to figure this out? I'm probably too dumb. I can't figure it out.

It was really holding me back. Right. And holding myself back subconsciously. And so I really started viewing myself as like, and it's hard to shift overnight. So like the biggest thing I recommend is instead of saying, going from like, I'm the broker all to be like, I'm just so wealthy. Right? Cause it's like, your brain is like, no one.

I would just have to ask myself, like, what if I could be a girl who builds wealth? What if it could be the girl who knows about how to ambass? What if it could be the girl who does this? And I just started like a notching, what would that look like? What am my life look like? Who, who would I have to step into?

Who would I have to grow into? What would I have to believe? I mean, I started question that a lot, so that was definitely the other thing I wanted to add. And then from. Like strategy of like things that I did. I really made a list of like, these are my top priorities, like taking care of my dad. Creating an emergency fund.

So if anything came up, it wouldn't put me back into debt. And then also just really taking it risks and really investing heavily and investing early and not being afraid to really ask questions. That's one of the biggest things that I see my clients struggling with is they're at the bank or they're, you know, with their friends or their, a brunch with their girlfriends, wherever.

And somebody says something in there. Oh, I have no idea what she's talking about. So I'm going to sound like an idiot. So I'm not even going to ask and then you'll ask and because we don't ask them, we don't get an answer because we don't get an answer, then it, you know, and so it, it, it stifles us so much.

Um, and so that's one of the other big things is I got really comfortable being like, wait, what do you mean by. Wait, can you explain that to me? Wait, so what, what exactly do you do you do you do with that? And I started learning these things, then I'd come home, I'd research it myself and then, and then make my own decision.

So that was another big one. That's like why

[00:17:12] Corinne Foxx: and I wonder how much of that too plays into being like a woman. And you want to be perceived as you don't want to be perceived as dumb or like we don't know things, even if we really just genuinely don't know things that doesn't mean we're dumb.

It just means we haven't been exposed to that information. And so, like, I feel like when I hold myself back from asking questions, it's because of that. And this was a different context, but I was working with a writer on a project that I'm doing. And she asked me a question about the process of producing something.

And I said, thank you for asking a question because I was too afraid to do that. And like, I was just trying to like empower her cause asking questions. It, it gives you knowledge and it gave you so much knowledge that you went from thinking you were the broke girl to being a financial coach, which is what you do now amongst other things.

And we were kind of curious, like, what does a financial. Do. And does everybody need one, should everyone be working with one or is there a certain point in which you think you should start consulting with someone else on like, you know, getting towards your goals?

Like people are as asking me. Who do I hire? Do I need a financial advisor? Do I need a financial coach? Do I need a CPA? Do I need a lawyer? Like, you know what? And oftentimes, because people are so confused, there's such a barrier to entry that they're like, okay, I don't know where to start. I'll just wait.

And then they wait and then they wait and then they wait. And so the biggest thing for me and what I do at deeper, the money. Do you have the money as a financial literacy company? And so our goal is education in alignment with this coaching aspect. And so similar to what we're talking about a little bit ago.

So, um, for example, I have a program called wealth accelerator and it's a 12 week group coaching program. And so in that each week, there's a new module. So it's like the financial literacy piece of like, what is the credit score? How do we increase your credit score without going into more debt or without getting you in a negative financial position?

You know, maybe there's a one on like refinancing student loans, like all of these different topics. So there's like the educational piece and then there's the coaching side of it. Right? So it's like the financial piece. And then the coaching side of it is, okay, now let's get on a call. How can we apply this to you to your life?

But one of the craziest things is that so much of the time. On the coaching aspect of it, we're coaching, you know, I'm coaching. And my team is coaching on the like deeper than money side of things where it's like, you know, I'll have people come to the call and they'll say like, I feel so guilty for spending because I have debt and my fiance who I live with does not have debt.

And so every time I order something, I hide my packages. I hide my packages and I feel so guilty about it. And then I lie about when I got it. And that's that's alignment, right? That's not like happiness, that's not. And so instead of saying, like just stopped shopping, you know, like that's not what I coach, I coach online.

Why do you feel like you have to hide that? Right? What do you believe to be true about yourself? And a lot of times it's like, well, I have done. And he doesn't my partner doesn't and so therefore I feel unworthy or like, I feel like I'm burdening, I'm a burden I feel. And so that's what we're working through is like, okay, is this true?

Are these beliefs that you hold about yourself? Something that you want to keep folding? Because again, we want to get to the root cause of why you're feeling this way. Not just like fixing the problem, you know, whether it's or like saving. Right. I'll have a lot of clients who are like, okay, I have the money to pet my credit card, but I literally cannot press pay it because I'm so scared to lose that money.

That's been sitting in my account and I don't want to put it towards my credit card. I want to hold on to it. So instead of saying, Josh, do it, we'll talk about like, why do you feel that way? Right. When, you know, maybe for this client again, I'm just making this up. Growing up. She didn't have a lot of money.

And so her parents kind of taught her that like money always leaves and you, you know, you always have to like, hold on really tightly or also to leave. And so she's so scared that this money will leave and never come back until we'll talk about those like root beliefs and understand, identify like what's going on there so that then once we can identify that and work through it, Then it makes going and paying the credit card off super easy.

Right? So it's not just like, here's what you need to do and doing it, but it's like the deeper side of, you know, what we believe to be true about money, the psychology about money, our childhood beliefs and all of those things wrapped into how we operate today as an adult with. It's money

I'm like this is money,

[00:21:57] Natalie McMillan: through all those subconscious beliefs that you've picked up throughout your life and kind of rewriting them. And we've got so many misconceptions and like weird beliefs around money. What were some of your biggest misconceptions before you got into your financial journey

How much time do we have? And I'm just, I have so many, a couple of, I got blue, my big ones that like took forever to really unlearn. One of the biggest ones was that you always want to spend as little as possible. That was like a big thing for me was anytime I spent, like, you know, let's say I bought something that wasn't on sale.

I would feel bad about it. Or if I just did something, I don't even know. Like, I, I upgraded something. I did this. I would just like, oh, I could've, I could've spent less. Or I shouldn't have spent that much. That, that was always a narrative because growing up, you know, I could remember my parents saying like, oh, wow, Why would you spend money on that?

Or like, I don't know why they would buy that. And all of this taught me like, okay, spend as little as possible, spend as little as possible. So spending was this huge sense of guilt for me, but I'm still doing it. Right. Cause I'm like, I want the dopamine head, like drive straight to target, roll up and be like, let's feel good.

Let's feel good. Right. Let's

[00:23:16] Chloe Elise: of doing target, you don't mean until like, decide what you're going to get at target. Like, she'll tell you. And so that was a big one was like spend as little as possible. Another one was like, you should always be saving, always be saving, always be putting 10% into your bank account.

And so, and it's a big one. I hear clients tell me all the time. I was like, well, yeah, but shouldn't, I always be saving and it's like, no, we save for something. If you are saving for a house. Sure. Yeah. We should be saving if you're saving for a car. If you're saving for a trip, if you're saving. To build up your emergency fund or something like that yet.

Save for something. Once you have an emergency fund set, and then let's say you've saved for the car or whatever. And then you don't have something in particular you're saving for. We don't want to just keep throwing 10% of our paycheck or whatever into a savings account. That's when we want to start investing of saying, okay, I don't have anything I'm saving for.

I'm going to start investing heavily. And then. Let's say a year from now, you're like, oh my gosh, you know what I think in the next couple of years, I want to buy a house. So now we can decrease the, or investing, start saving more, save up what we need and then go back to investing. And I think that was a huge shift for me, because I was just, you know, I grew up with parents that were like, you have to always like, keep my mind.

Right. And then they would teach me like, keep money in a shoe box under her bed. I'm like, oh, stop. And I'd be like, okay, I have to hold onto money. Like I can't invest, I can't do this. And. That was a big one too. And also just the belief of which I already talked about this a little bit earlier, but the belief of like getting ahead, right?

Like I couldn't even imagine this idea of having more than enough. I couldn't even imagine it because I was. Just taught over and over. Like, you can work really hard, but like, you'll only just get by. That's just like it, that's how it is. That's like the middle class lifestyle that I grew up with. So I just like, always thought that.

And so when I started imagining, what if I always had more than enough? Like what would that look like? And, um, I talk about it a lot on my podcast. I call it the money thermostat. Right. So if you think of like, like, I have a, a little like nest thermostat where you can set it. So like the, if it gets too cold that he kicks on and if it gets too hot, the air kicks on.

Right. That's what we have. We all have an internal money thermostat where if we dip below a certain point, right. I'm sure you could think of like, and everyone has. Uh, you know, for me, when I was in college, it was like an overdraft fee. As soon as an overdraft fee hit, I was like, oh, I got to kick it into gear.

Okay. I can't let that happen. I got to put more money in the account. That was like my minimum. But I also to maximum where I, I could, I could maybe get X amount in my bank account, but as soon as it went up, Like, I just would always get back in there. I would self-sabotage or I would overspend or I would do something.

Cause it that's where I was comfortable. Right. Because our caveman brains want us to be comfortable because they can predict it. It was so I couldn't even imagine my bank account being higher, but I also couldn't imagine my bank account being lower and. Always working to shift that of like, I want to, let's say for me again, the overdraft fee, like negative $35 was in my account.

That was like my normal. I want to make it so having a hundred dollars, I couldn't even imagine having less than a hundred dollars. And then I want to raise it to $500. I couldn't even imagine having less than $500. I kept working to raise what I would put up with right as my bottom line. And I also kept pushing forward of like what I could imagine in my bank account.

I want to imagine more, I want to think of this number growing it or my investment accounts or whatever it was. Um, and I really, really focused on that through implementing these strategies.

And then since then I haven't really been putting money in my savings. And I just recently it was like rain water. Doing like we've loved the savings account. We've dropped the ball and then you're like, yeah, well you just, you just saved for the house. So like, you know, and I don't have a huge financial, I bought my first car two years ago, so it's like, I've hit a few financial milestones.

So I don't feel as motivated to save because I'm not really saving for anything. Right. I mean, I have an emergency fund. I have all of that stuff. So I feel a little less guilt now that I haven't, well, I shouldn't be investing more though. I can be doing that, but yeah, I literally like two days ago I was like Kerryn.

Let's like go through and save some money here. Well, yeah, but

Never take money out of it. Oh yeah. So then there'd be times when I needed money and I'm like, I'm going to take it out of my savings. And I'm like, oh my God, like, I'm a failure, but it's like, it's like, this is why I have it though.

And like, I can just live my life and no worries. Like we want to celebrate that. But people just like you were saying, if you were taught, like you never touched savings, right. You have that voice. And so what I like to tell my clients is that the first voice you hear. It's likely not yours, right? The first voice you hear on money that like judgment voice of like, I shouldn't be spending this, or that's probably not your voice.

That's probably the voice of a parental role or someone, you know, some person of influence as a child telling you what you should or shouldn't do. And it's like, that's one of my big goals is to make it so women feel so women, I mean, everyone, but women especially feel so empowered by. I get to make these decisions.

I get to take money out of the emergency fund. If I need to, or I get to spend this, I get to do this, or I get to change my mind. That's one of the biggest things I get to change my mind. I tell my clients all the time. Because so many people, and especially in the financial industry, we're taught like set a budget.

And if you don't stick to it, you shock and you're not good money. It's like, no, if you decide here's, you know, I don't even like to call it a budget. I call it a spend plan and I set it up a little differently. But you basically plan out your spending plan, what you want to spend. And then if halfway through the month, uh, you know, one of your friends texts, you and says, Hey, let's do a week girls.

We can get away and you decide, yeah, I want to do that. You're allowed to say, you know what? I originally had an allocated money for this, and now I'm going to, yeah, like you're allowed, that's a, that's a win. We want to celebrate that. We want to celebrate. Our money going to places that are in pure alignment with us.

We want to celebrate when we change our minds. And then we have finances to support that, like, those are wins, huge wins. And it's like, so often we're just taught, like, if I didn't follow through with the plan that I stuck and it's like, that's so wild, right. Like sticking to a budget, isn't the goal. And it shouldn't

Yeah. And it's just like, It's shifting the mindset from, like, there is so much fear around our finances and this negative association with money to like, like you were seeing this like celebratory positive, like celebrating all of our wins and things that used to be losses are now wins and kind of like reframing.

But I know a big fear for people's even like looking at their fine, like, you can't even like, look at it in the bank account. Like I'm not going to. So I I'm curious, like what is the best way for us to calculate where we are financially so that we can start to implement changes in our lives. If we're kind of don't know where we're at, because we haven't checked in

For sure. For sure. So one of the big things is really taking the shame. Right. If you're like, oh my gosh. Right? I got to check it. What is coming up for you? Like what are the reasons you don't want to check? It likely it's because you want to ignore it because it will mean something about you. If I look at this, it will tell me I stuck.

If I look at this, it will tell you. That I've wasted money. If I look at this, it will tell me that I have debt and therefore I'm bad. Well, you know, like I'm behind it will tell me, like, it will tell me all of these things. And so instead of just saying like, oh, just look at it, right. We need to understand what my bank account says.

How does not, that's not who I am. That's not right. It will give me information. But that information means nothing about me. And anything like more than that, it's just feedback of like, oh, okay, cool. This is where my money went. This is this, this is us. This is that it's then one of the pieces of encouragement that I like to get, well, two things.

The first one is that a lot of the times the fear comes from this narrative of like I'm behind the times and it's easy, right? Like, especially with social media. It gives the illusion that like, we know everyone's lies. We're like, oh, she drives a Tesla. Like she's doing so well off. Or like, she's going into strips.

Like she's so wealthier. Like she must make a ton of money because she has this job and we make up these assumptions. When really we have no idea. They could be in a massive credit card debt. They could be, they could have like been given inheritance. You have no idea and you can't compare results if you can't compare resources.

Right. None of those things are like good or bad or whatever. It's just that we look at our bank account and then, and then look at other people's social media and say like I'm behind, or maybe we're behind our parents' expectations or we're behind her own expectations. Right. Like I just found this like time capsule thing from like second grade or third grade or something.

And it was. Where will I be when I'm 20? And it was like married with a house and 12 cat done. And I'm like, whoa. You know, and it's like, we, our own expectations. And it's like, It's okay. Wherever you're at. It's it's fine. And it's perfect. And you can always get ahead. And then the second thing is if you open your bank account and you're mad about it, I want it to be a line in the sands of like, I see this and it will never be like this again.

If I want to change it. It starts today. Like this is, if I hate looking at my bank account today, I'm going to look at it and know that this is the last day. I'll feel this way. This is the last time I'll feel this way. This is I'm, I'm breaking the cycle. Um, you know, one of the things I talk about a lot is it ran in my family until it ran into me.

Right? Like these cycles of whatever it is, and that doesn't really need to be like financial status. It could be just like. Uh, belief, right? Those paths down of like, you don't do this or you do this, or you feel bad about this. Right. And it's like that ran in my family until, until it ran into me. And like, it stops here.

And so it can be like, uh, okay. You know what? Yeah. Mad. I look at my big account, I'm mad and I'm frustrated and I'm upset and I feel a little discouraged, but like, I'm going to use this to create a life and a reality where I look at my bank account number. Wow. And so then it becomes, what do I need to do to get there?

I know where I'm at. What do I need to do to get there? Right? Yeah.

And you actually have a course, that's going to be about making 20, 22 your financial year. So how do we start to make financial goals that are actually realistic and achievable?

So I want to spend only a hundred dollars and then I'll have another, a hundred dollars to put towards something else. But in reality, they're spending like $700 a month. Right. And so then they go into next month and they're like, wait, how am I only supposed to spend a hundred? And it's so restrictive.

And so I tell my clients, figure out where you spend your money. With no shame, right? There's no, like I suck, I can't believe I did this. It's just like, where am I at? Right. Where am I at figuring out how much you send it in, in your different categories and then saying, okay, cool. How do I want to spend going forward?

I do not recommend making dramatic shifts. I don't care if you spend a thousand dollars. On Uber eats last month, don't say I'm going to spend $50, right? Because that will lead to burnout and I care way more about sustainability. I want you to be in a way better place, 12 months from now, 12 years from now, rather than like, it's like a fad diet, right?

Like, oh, I'm going to drink. You know, juice for 12 days and lose 10 pounds. And it's like, okay. Yeah. But what about in three months? Right? Oh,

[00:36:34] Chloe Elise: this sustainable. So it's like, I don't, I don't really care if you have a win in one week, I care about your win, you know, down the road.

Anyway. Yeah. A big thing that I recommend focusing on is just like the sustainability aspect of it, understanding what you're spending and then setting big goals. Like, you know, Curtin, like you were saying when it's like, I just feel like I'm not like putting money away. It's like set a crazy goal. Like I do that all the time.

[00:37:07] Corinne Foxx: we were going to ask you, if you didn't mind sharing, do you have a financial goal for 20,

I just want you to lie also. I'm like, that's kind of crazy. I think we love big,

[00:37:27] Chloe Elise: Okay, cool. I want to know all that. You're going to school too. Okay. I have two really big financial goals for 2022. The first one is to invest $200,000.

That's like my top goal is to buy a rental property in some capacity. And I'm still deciding if I want to do like where I want to do it and all of the, you know, and if I want to like how involved I want to be, and I'm still like, figuring out that. I'm not making moves on that until I'm, but like really clarinet.

But those are my two like huge financial goals for, I don't think those are crazy. I think those are brilliant.

[00:38:12] Natalie McMillan: about passive income all the time. We're like we gotta figure out

Do not share this.

telling you this, you will get so mad, but it's like, you learned so much of like, there's so many times where I'm around people and they're like, these are my goals. And I'm like, I need to set bigger goals. I need to like, do this. I need to stop this, you know? Like, and so if you're someone in. Oh, my gosh.

Like, I don't even feel like I have a money go, like, bring it up at like, you've a girl's brunch. Like bring it up and be like, what are you guys? This bowl snack share. What are your financial goals? Like, what are you? I love talking about it. And it's so fun when you're transparent about money, especially with the people who.

You spend time with, because now, like in my friendship circle talking about money. So just normalized now that, you know, we have a couple of trips that we're planning this year and people will be like, Hey, I can only go if like X amount is the budget for the trip. And it's like, awesome. And we're very transparent and very.

Encouraging of each other's goals. And it's just, it's so fun. I love that

We can't talk about our goals. We can talk about how much we're making. We can do all of these things. And it only empowers us more and uplifts other people more because it gives them, you know, you've brought up the rental property thing. I'm thinking about it and I'm like, Ooh, now maybe that's something I should be actually considering even more in 20, 22 now.

So thank you for sharing that with us and thank you for sharing your time. Literally, we have like a thousand more questions for you, but we don't have enough time with you. We have to bring you back.

[00:40:27] Corinne Foxx: No, and, but no, you're so, so great. And thank you for what you're doing and the financial literacy space, especially for women.

I, I feel like for decades, we haven't had access to this information, you know, write a relatable way in a, in a relatable way and you're doing the work. So thank you so much. And we're going to have you back on because we have about 6 million more questions. Oh. And we're also signing up for your, one of your courses.

We're going to do your course. We were on your website and there were so many, and we were like, okay, we're going to take that one. And then we're

[00:40:58] Natalie McMillan: We love a course.

[00:41:06] Corinne Foxx: well have a great 2020 to

[00:41:13] Corinne Foxx: That was so, so great. You're so wonderful. You're a great podcast guest.

You too, the chemistry you have together as a macula, I cannot tell you sometimes it's. So when you're being interviewed by two people, or like there's a conversation it's. Uh, they don't like, I dunno, it's just like, they're trying to both jump in and this and that, you guys, I'm just like, oh my gosh,

[00:42:05] Natalie McMillan: We do. So we really do have this like telepathic thing where it's like, okay, now I'm going to do that. Yeah, it's

Let us know when it,

[00:42:35] Chloe Elise: Thank you guys so much.

[00:42:47] Natalie McMillan: I would like to, I wish we could interview her for two more hours.

[00:42:59] Natalie McMillan: of knowledge,

[00:43:04] Natalie McMillan: looked at the clock and I was like, damn it.

Like, I, I, we could keep going and going and going.

[00:43:20] Natalie McMillan: literally exactly why just ask these questions to get these answers from these

She is an expert. Oh, for sure. So we hope you guys learned more about money mindset. Some tangible ways to have a better relationship with your money and how you too can create goals for yourself that lead to financial freedom. And we will link to all of Chloe's everything that she's doing, all her socials in our show notes.

If you guys want to connect with her, sign up for one of those courses, Natalie, and I will probably be in it a hundred percent and yeah, we will link it in the show notes. So Nat, should we circle back on this wine?

[00:44:06] Corinne Foxx: oh, I'll introduce her. Okay.

And there are over 50 companies in her portfolio, including seven. Innovative future tech giants. So she's really investing her money. Well, this woman, it doesn't mean to, but, but she's doing it in any way is how she's making more and more and more. And she's just so smart with it, cycling it and giving to, you know, these young startups.

And here's my theory.

[00:45:12] Corinne Foxx: I know you always say that too. That is really like your, your quilt. And I agree,

Yeah. I believe that if we get money in the hands of women and particularly women of color, the world would be a much better place to make that money girls because the world will be better for it. Because we do things like this.

So one to miss Serena Williams, what are we rating the cus uh, Castillo, Casa

[00:45:53] Chloe Elise: It just sort of

[00:46:03] Natalie McMillan: I think you miss six. I was gonna say six. Okay. Six out

If you want to try it and let us know what you think,

okay. This is the part of the episode where we play a little wrap-up game and this is our first one of the new year. And we're talking recent. Uh, sessions things that we're obsessed with. Yeah. As of recently, yes. Do you want to go first? Well, we kind of addressed it in a previous episode, but you talked about it today and I do think I should talk about it, which is Housewives.

Oh, okay. That is a recent, I am not someone who would watch. How else would I like, I'm just, I've never been into that. I'm not like I'm like what, but our friends, Taylor and Connor, I will shout them out on the party. Relate Korean, you have to watch salt lake city. And I said, okay, fine. I'll give into it.

Right. This show is apps a fucking lutely, insane. It is insane. And I look read lists of like, what are the best Housewives franchises to watch? And this is the top one because it is the women. One of the women is married to the grandfather. Oh my God. Okay. Yeah. Yeah. One of the women is married to their grandfather.

Yes. And you just find out more and more crazy shit about that later on. And then like one of the women got arrested, live on air, which was insane. And then just like, I can't, I look forward to it. Oh, so you're watching it as it comes out. Oh yeah. Now I'm caught up. It's only two, only two seasons. So if you've never seen it, you're not behind that.

Had she just watched the first, she doesn't watch the second season. Um, it's like currently airing the second season and it's beyond insanity. Does it

[00:47:53] Corinne Foxx: No, I watch it on the NBC app. Oh, the next day it comes out every Sunday and I watch it.

On the NBC

[00:48:18] Corinne Foxx: are going to monuments from the shell bars, places where they had arguments, very iconic location for salt lake city.

It is another thing that I'm just like what in the

[00:48:56] Natalie McMillan: so weird. I'm like trying to think of, like,

[00:49:03] Natalie McMillan: be like if Luca married my dad.

Yes. So not biologically, so yeah.

[00:49:21] Natalie McMillan: weird. Very weird. Is that even legal? I guess? No, no, no, no. Well, you know, you tie think has different rules.

[00:49:37] Natalie McMillan: city.

She is wild. It's pretty wild. My recent obsession. I started obsessing over this maybe like six weeks ago, one and a half ago. I truly. Yes, so much joy every single time. And that is Mick Jagger's Instagram. Oh yeah. You are Mick Jagger's Instagram. I started noticing a pattern, which is that every time he would post it would just be a series of him standing.

In front of random things and like he was on tour and he was like doing these different stops. So it'd be different cities, but like him standing in front of a building, him standing in front of a tree, him standing in front of an aquarium, like just random things. And I can't get enough. I can't get enough.

It's so funny to me.

[00:50:27] Natalie McMillan: posted it on your story. I do, I do. We got another one

[00:50:32] Natalie McMillan: like give us the standing content. And then one time he threw a real curve ball at me and he had one where he was. It was like, stand, stand, stand, sit, stand, stand.

I was like, oh, he's caught on like, is this Morris I'm like, did he catch onto the fact that we all are realizing that his content is exclusively standing? And he was like, Ooh, I'm going to switch it up. Maybe let me tell ya. It's a blast. And I think everybody should go take a look

[00:51:03] Corinne Foxx: newsletter this week.

We will include.

[00:51:07] Corinne Foxx: will include Mick Jagger standing. So if you guys want to sign up on our website and we doing this right pod.com, you will get to see that you'll get to see

[00:51:16] Corinne Foxx: Yes, exactly. Is our first episode. I'm so

[00:51:23] Corinne Foxx: that last year. And I don't think we're going to miss one this year, guys.

Um, so don't forget to rate and review our podcasts. It really helps us grow. And we'd love for you guys to be our first review of the new year

[00:51:37] Corinne Foxx: to have this info. Yes, they do. Um, okay. We'll be back next week with another episode and love you guys.