EP 172: “Solving Money Problems Early Easily "
In this podcast, Michelle Perkins speaks with Monique Gagné, a financial educator known as the "money mom" and author of "Who Took My Money." She is also the creator of “The Power of Financial Happiness” course, an advocate for financial literacy in children through her book “Alex's Dream with Money” and an experienced speaker and media guest with a relatable and engaging style. Monique shares insights on fostering a positive relationship with money, advocating for financial literacy from a young age, and the significance of saving before spending. She highlights the psychological aspects of money management, particularly the pitfalls of credit card use and the need for a foundational understanding of financial concepts. The episode underscores the importance of teaching children about money to prevent future financial mistakes. This conversation took place recently and is crucial as it addresses common misconceptions about money management, aiming to empower listeners to reframe their relationship with money for a more fulfilling life. 00:05 - Introduction to money mindset 07:26 - Building a positive money relationship 16:12 - Investing in yourself and family 24:47 - Understanding assets and liabilities 30:15 - Defining personal abundance 41:35 - Collaborating for financial education Monique emphasizes that developing a love for money is crucial because many people approach it with fear or avoidance. She believes that respecting and understanding money, much like any other relationship, can lead to better financial habits and a healthier mindset. Monique points out that many people view saving as a loss of freedom or enjoyment, similar to dieting. She argues that saving can actually be enjoyable and fulfilling, as it allows individuals to watch their money grow and achieve their financial goals. . The podcast highlights that mindset is a critical factor in financial management. Monique suggests that a positive mindset towards money can transform how individuals perceive saving and spending, making it easier to manage finances effectively. Monique is opening the Love Money School and inviting grandparents to participate in teaching the next generation about money. She believes that involving grandparents can help instill the right mindset and foundational knowledge about finances in young people. Key Takeaways: Money should be viewed as a tool for value and happiness, not as a source of stress.Early education in financial literacy can lead to better money management in adulthood.Saving money can be a rewarding experience that contributes to financial freedom.Understanding personal definitions of wealth and abundance is crucial for financial success.For much more on ALL things money mindset, money management, how to earn a great living and take control of your finances…Subscribe to my weekly podcast, Money and You: https://podcasts.apple.com/us/podcast/money-you-with-michelle-perkins/id1365907575?ign-itscg=30200&ign-itsct=podcast_box Please share the episode or the podcast with your friends and family members who want to better understand money, and feel more confident and in control of their financial lives. And don’t forget to join the Limit Free Life email community for valuable, usable content and to learn about upcoming events: Let’s Connect…https://limitfreelife.com/newsletter/ For more information on Limit Free Life & Michelle Perkins: https://limitfreelife.com LinkedIn: