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Ep19 – Dear Debt – Mental Health and Money with Melanie Lockert

Episode #19 – Dear Debt – Mental Health and Money with Melanie Lockert




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Bio: Melanie Lockert started Dear Debt in 2013 as an accountability project for her debt payoff process. It grew into a community of dreamers, hustlers, debt fighters, minimalists, and frugal lovin’ adventurers to share thoughts, company, and Dear Debt Letters. She is an inspiration to many facing depression and other obstacles in dealing with debt and putting it in its place.

Show Description: We all know depression and mental illness are very hard to deal with and can create limitations in how we feel, think, and act. Today Melanie and I talk about some of the actions to take, and ways to think and encourage ourselves in dealing with depression and still making progress financially.

ShowNotes:

  • 1:27 – Emotions and Role Models
  • 3:12 – Fighting depression while still making progress financially
  • 5:00 – Dear Debt Letters – What are they?
  • 7:38 – Power of Writing Things Down
  • 9:45 – Mental Buckets
  • 10:50 –  Mentors and Coaches and Therapists: Outside Help Is For EVERYONE
  • 15:31 – Melanie’s story, hard months and easy months and honesty
  • 18:00 – Debt Fatigue: Define yourself
  • 21:34 – Vulnerability is strength
  • 23:30 – Melanie’s Maxim, Blog, and Book

Money Maxim

“A Closed Mouth Does Not Get Fed” – Melanie Lockert

MoneyMaxim Melanie Lockert

“You are not your debt” – Melanie Lockert

“The Faintest Ink Is More Powerful Than The Strongest Mind” – Jacob (Ancient Chinese Proverb)

“It’s important to tell the people that you love what you’re going through” – Melanie Lockert

Action Items

Forgive yourself, and recognize that you are not your debt.

Write your Dear Debt Letter! Read some on Melanie’s Blog, get the emotions out!

Organize some of your emotions into Mental Buckets.

Get your therapist! College grad program, mentor, mastermind, psychologist, roommate. Have people you regularly discuss and get help from.

Pattern: Recognize issue, make a plan, get a partner, get a community, constant honesty.

Mentions

Carl Richards Behavior Gap

OrderOfMan Podcast

Contacts and Links from the Show

http://deardebt.com

Melanies Book: Dear Debt

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Episode 18: NewlyWed Finances – With Dave Jacobson of CoachConnections

Episode #18 –  Newlywed Finances & Money Coaches – With Dave Jacobson



 

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Dave Jacobson HeadshotBio: Dave Jacobson, certified financial coach, enhances lives by empowering others to make better decisions with money that lead them to a financially fit lifestyle.  He has helped hundreds of individuals find financial peace through personal coaching and financial wellness seminars that focus on building and implementing a practical financial plan.

Coach Dave was nationally recognized for his personal money management expertise by The Lampo Group (Dave Ramsey’s organization) and leads Counselor Connections, a best practices group of top financial coaches from across the nation.

Show Description: Dave and I talk about marriage, finances, and some important things to do before you say “I Do”. We avoid the budgets and the numbers and focus on the thinking, actions, and understanding your partner and helping them understand you. We also delve into the value of a coach regardless of who you are, and what your

ShowNotes:

  • 0:39 – Dave Shares his history in Financial Counseling and about his personal life
  • 3:55 – Marriage: No One Tool
  • 5:15 – Communication and Unification
  • 8:00 – A mediator and guide – What a Coach is for
  • 8:40 – Areas of a healthy NewlyWed financial discussion
  • 10:50 – A Unified Vision
  • 14:15 – Dave’s Money Maxim
  • 16:56 – Starting To Talk, “As You Create:
  • 19:11 – Money is Emotional
  • 20:09 – What a Financial Coach is, Why Everyone Can Utilize One
  • 24:19 – Connecting with Coach Connections.

Money Maxim

Dave Jacobson - MoneyMaxim

Your What will only be as strong as your Why.  (This means that their passion leads, not the numbers). -Dave Jacobson

 

Contacts and Links from the Show

Here is the link to the free Guide  Free Newlywed Checklist from Coach Connections.

Coach Connection

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Why you want a Certified Financial Planner, Why I don’t want to just be a “Financial Advisor”

Confidence comes through cognizance.

Now, everyone has heard the term ‘Financial Advisor’ before. However, did you know that not all terms mean what you think they mean.

Literally anyone can be a Financial Advisor. According to Investopedia,

“Financial advisor” is a generic term with no precise industry definition… What may pass as a financial advisor in some instances may be a product salesperson, such as a stockbroker or a life insurance agent. A true financial advisor should be a well-educated, credentialed, experienced, financial professional who works on behalf of his clients as opposed to serving the interests of a financial institution.

“Go to college;” I’m now a Financial Advisor by the legal definition. “Spend all your tax refunds on Pringles and Custom Baby-Seal Leather Boots;” I’m now a Financial Advisor. “Put that million dollars you inherited into this annuity;” I’m now a Financial Advisor and, depending on the company I work for, possibly $30,000 richer (assuming a 3% commission, some can be as high as 10%!).

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A well diversified Pringle portfolio
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Custom Leather Boots – Good Investment

 

 

 

 

 

 

 

 

Click on this link and print your own certificate of being a certified Financial Advisor from Last Week Tonight’s Financial Advisor Academy signed by John Oliver, the Dean of Financery! That’s how easy it is to say you’re a Financial Advisor.

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Boom – My dog is a Financial Advisor

The reason I want to be a Certified Financial Planner Designee is so that those served will be confident and secure the advice they are given is for their best interest. A CFP designation requires a LOT of work. Here are some of the many requirements

  • A Bachelor’s degree
  • Mastery of 100 topics of financial planning
  • Classes and credit hours in these areas:
    • Insurance Planning
    • Employee Benefits Planning
    • Investment and Securities Planning
    • State and Federal Income Tax Planning
    • Estate Planning
    • Retirement Planning
    • Asset Protection Planning
    • Estate Tax, Gift Tax, and Transfer Tax Planning
    • Financial Counselling
    • Capstone Course
  • Passing a 6 hour test with 170 questions about the application of the 100 areas including:
    • Two case studies
    • Mini-case problem sets
    • Stand-alone questions
    • This test has about a 42% pass rate
  • 3 years of work experience in all areas
    • Establishing and Defining Relationships
    • Gather Client Data and Goals
    • Analysing and Evaluating Financial Status
    • Developing and Presenting Financial Planning Recommendations and Alternatives (yeah. you can’t give one idea, but a cluster of them)
    • Implementing the choice
    • Monitoring the Financial Plan

Oh. And there are is more. There are ongoing requirements to be a CFP Designee.

There is a strict code of ethics involving criminal background checks and compliance to track everything you do. Every two year period requires thirty hours of ongoing continuing education.

Also, you CAN’T have a CFP Certification if you’ve had any of these.

  • Felony conviction for theft, embezzlement or any other financial crime
  • Felony for tax fraud
  • Revocation of any professional license previously (with exceptions)
  • Felony conviction for any degree of murder or rape
  • Felony for a violent crime in the last 5 years.
  • Two or more bankruptcies (with exceptions)

So, except for a violent crime lasting 5 years on your record, anything else is a permanent block from ever being a CFP Designee.

Who would you rather work with on creating your financial action plan?

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CFP Designees provide the best advice

Do you understand why it’s worth looking for a CFP with all of that under their belt, compared to just a “Financial Advisor” (I hope you printed that URL off, because if so, you’re an Advisor now, too!)

My interest in studying financial planning by becoming a CFP Designee is to help individuals feel aware, secure, and prepared for retirement. The peace that comes from knowing you are acting and achieving your own goals financially is  powerful and strong that builds real confidence to act. I’m also motivated to become a CFP Designee because it is something that is universal and needed for everyone; this field is a way to help all individuals and therefore families too, no exceptions. A CFP designation gives strong support to show I can do comprehensive planning, and have dedication to providing value and accuracy.  Attendance at finance conferences, Financial Planning Association meetings, and volunteer work through my school’s student financial counselling centre, the Money Management Resource Centre, are all ways I’m becoming as knowledgeable I can for the benefit of those I will work for. Individuals need help on a vision, and then they can make the wise decision.

I want to help millennial entrepreneurs, newlyweds, dance teachers, college students, and the active high paced people of today to understand how their money works and how to keep their wealth from slipping through their fingers. People are scared of money, or worried about money. If they are cognizant then they can be confident. My goal is to become a reliable counsellor; I will be a planner to help others make educated choices to feel confident and prepared to reach their vision: bear hunting in Europe, having a large family, creating a company from scratch, or planning 40 years in advance for retirement.

– Jacob Johnson is a student of Personal Financial Planning at Utah Valley University, He is a member of the student Financial Planning Association there and enjoys competitive ballroom dance.

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– Thank you Rebekah White for the wonderful craftsmanship and help in editing and reviewing my writing. Thank you for helping me to be confident. Rebekah has a degree in Creative Writing and helps authors and individuals express their thoughts in more effective and clear methods using their own natural voice. * If you’d like contact to her please let me know!