160. Financial Anxiety is Real - And Extreme Frugality Isn't the Fix with Nicole Stanley
episode
Becoming The Wealthy You | How to Save Money, Stop Overspending, Get Out of Debt, Budgeting & Personal Finance for Women
48 min
2 speakers
4 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
What is the main topic discussed in this episode?
You are listening to the Becoming the Wealthy You podcast with Jermaine Foley.
If you're a woman who makes good money in your career or business, but you're not building wealth like you want to, then you're in the right place. In this podcast, you'll learn how to stop overspending, break free from the cycle of debt, save lots of cash, and become the wealthy woman you were born to be. Let's dive in. Hello, everyone. Welcome back to the podcast. Today I have a special guest with me. Her name is Nicole Stanley, and she is the owner and head money coach at Arise Financial Coaching. Her mission is to help successful women have more money and more choices to really be able to live the lives that they want to live. Nicole paid off a significant amount of debt as a Latina entrepreneur and a personal finance expert.
She grew her net worth through investing. And so we are just so excited. I am so excited to have you here, Nicole, to talk about your story, talk about all of the tools and concepts you help your clients with. So welcome to the show.
So excited to be here. I am excited to talk more about tips that you guys can take away.
Awesome. Awesome. So why don't we just start with you? I know I gave your bio, but I'm sure it's more to it than what I said. Can you just tell us a little bit about you and why you're so passionate about helping successful women have more money and more choices?
Yeah. So I started in the personal finance world as a kid, really. I grew up in a Puerto Rican-American household where we were upper middle class. But even though my father was really successful, he was a software engineer, we still had a lot of stress behind closed doors. And so I remember realizing from a young age that it didn't necessarily matter how much money I made, that financial stress could still very much so be in control of everything. And I tried to ignore that reality until I got married. It started to rear its ugly head. So I got married very young and I was the one who told my parents, you know, we're in love. Money doesn't matter. It doesn't matter that we don't make any money. Right.
We got we were, you know, young and naive. And so it wasn't until we were planning our wedding. I was freshly 22 and I actually started having regular panic attacks while planning our wedding and doing the numbers over and over again and realizing, you know, these numbers aren't adding up. And I remember looking at my soon to be husband and saying, you know, if we can't afford this wedding where our friends are doing the drinks and the flowers, how the hell are we going to afford a life together? Yeah. And it was kind of then that I realized, you know, if I wanted to figure out this money thing, I needed to be a little bit more intentional because I wasn't starting with a lot to work with. So it was then that we kind of dove into the personal finance world.
We enrolled in our first course, started learning, and I became just the biggest personal finance nerd you've ever met in your life, just reading everything. And it was very empowering because learning about finance taught me... you know, something very different than I grew up observing, which was, you know, my parents telling me, if you want to be successful, you need to be one of three things, an attorney, a doctor or an engineer, and there's really no other options. And so I was kind of coming in to my young marriage with a little bit of brat energy, and I wanted to prove them wrong. So I was like, I'm going to figure out how to make our very small salary work. So when we first got married, my husband was a youth minister.
I was working at an entry-level sales job. We weren't really rolling in the dough. But once we started to learn about these concepts of investing, paying off high interest debt, money mindset, things really began to change for us because we realized we can make a lot of progress very quickly. And I know you shared a little bit about it in my bio, but we paid off a significant amount of debt quickly, started investing.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:00–7:27
2
How did Nicole Stanley’s personal money crisis spark her career in money coaching?
7:27–28:13
3
What is the Arise Financial Coaching audit and why start with a spending snapshot?
28:13–37:53
4
Why are people afraid of a spending audit and how does it relieve financial anxiety?
37:53–48:19
Speakers
2 identifiedMore from Becoming The Wealthy You | How to Save Money, Stop Overspending, Get Out of Debt, Budgeting & Personal Finance for Women
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