Tired of money feeling like a mystery? You’re not alone!
In Money Matters, the latest episode of the Motherhood Mentor Podcast, host Becca dives deep into the often-taboo topic of money with Jenna Lee and Terra Rose, the powerhouse founders of Gutsy Money.
This isn’t your typical finance podcast – it’s a raw, honest conversation about the emotional baggage, the limiting beliefs, and the sheer confusion that many women, especially moms, face when it comes to their money.
Spoiler alert: it’s not just you.
Becca, Jenna Lee, and Terra Rose candidly share their own struggles and “ah-has,” from feeling shame about income levels to navigating the overwhelming world of business finances.
They debunk the myth of overnight success and highlight the importance of understanding the “hockey stick” growth curve of entrepreneurship.
Listen Now:
Apple Podcasts:
Spotify:
Read More…
What’s Gutsy Money?
It’s a lifeline for ambitious women who are ready to take control of their financial lives. We offer a unique blend of full-service bookkeeping, financial literacy, rad community with entrepreneurs, and genuine emotional support. With our support, women business owners can:
- Unpack their money mindset: Ditch the shame and limiting beliefs that are holding you back.
- Build a solid financial foundation: We’ll set up the nuts and bolts of business finances for you, from chart of accounts to profit and loss statements and more.
- Navigate the energy of money: Understand money as a flow, an exchange, and a relationship.
- Make informed, Gutsy moves: Gain the clarity and confidence to grow your business and achieve your dreams.
Key takeaways from the Money Matters Podcast episode:
- Money is a language, and it’s okay if you’re not fluent yet.
- Shame and anxiety around money are common, but they don’t have to be your reality.
- Awareness and action are the antidotes to money anxiety.
- Building a healthy relationship with money is essential for both business and personal well-being.
- You are worthy of financial abundance and success.
Ready to ditch the money heartache and embrace your financial power?
This podcast episode is a must-listen for any woman who’s ready to transform her relationship with money and build a thriving business.
Listen now and join the Gutsy Money movement!
Don’t forget to:
- Share this episode with a friend.
- Tag Gutsy Money and The Motherhood Mentor on social media.
- Subscribe below for more empowering content.
Read (Even) More
The Motherhood Mentor Podcast: Unlocking Financial Freedom for Ambitious Moms with Gutsy Money
This podcast was hosted by the lovely Becca from The Motherhood Mentor! Becca is a somatic healing practitioner and holistic life coach for moms. Her podcast is a space for honest conversations about health, healing, and growth in all areas of life. She believes in embracing our full humanity, both the soft and the hard, while pursuing our ambitions. Here, she combines deep inner healing with practical strategies to navigate the realities of motherhood.
In this episode, she talks to Jenna Lee and Terra Rose, the owners and founders of Gutsy Money. Becca starts off by mentioning that Jenna Lee is someone she deeply admires, especially when it comes to teaching women about money, particularly in their businesses. She said, “If I were ever struggling with finances, she’s the person I’d turn to for straight talk delivered with genuine care.”
Introducing Gutsy Money
Terra Rose began by sharing her background in founding several non-profit and for-profit companies and teaching entrepreneurship at a community college. She emphasized that a common concern among women, especially as they achieve greater success, is finding a trustworthy financial partner. This realization led to the birth of Gutsy Money.
Gutsy Money’s mission is to empower women who are passionate about making a difference, building successful companies, and providing for their families. We aim to be that reliable “money partner” women can trust.
The name “Gutsy Money” embodies the idea that a solid financial foundation empowers women to make bold, “gutsy” moves in their businesses and lives. When you have a clear understanding of your profits, revenue, and expenses, you gain the confidence to pursue your dreams, whether it’s expanding your business or taking a dream family trip.
The Power of Clarity and Confidence
Jenna Lee expressed her enthusiasm for partnering with Terra Rose at Gutsy Money. She highlighted the common challenges faced by incredibly skilled individuals who struggle with the “backend” business aspects.
“Being amazing at your craft doesn’t automatically translate to being great at business,” Jenna Lee said.
Entrepreneurship involves not only attracting and serving clients but also navigating bookkeeping, tax preparation, and financial analysis. These crucial elements are often not taught in formal education or regular daily life. This lack of access to this knowledge can lead to decreased profits, unnecessary overhead, and missed opportunities. Jenna Lee also stressed the importance of accurate bookkeeping to maximize tax write-offs.
Unpacking the Emotional Baggage Around Money
The conversation then shifted to the emotional and mental aspects of money. Becca shared her own discomfort with discussing money and reflected on the lack of open conversations about it among women. She recalled how her early experiences shaped her views on spending, saving, and charging for services.
Terra Rose acknowledged the importance of honesty and authenticity in our relationship with money. She shared a powerful story about a client’s emotional breakthrough when celebrating her financial success. She emphasized the importance of having open conversations with trusted individuals about our fears, dreams, and current financial situations. She also mentioned that, “Shining a light on these aspects releases emotional and mental burdens.”
It’s crucial to find a “safe container” – someone with the capacity to hold space for these vulnerable conversations. Becca added that many women are hesitant to share their financial struggles due to shame or fear of judgment, especially when they perceive their lives as generally good.
Money Mindset: Beliefs and Reality
Jenna Lee delved into the concept of “money mindset,” highlighting that it often has little to do with actual income. She has witnessed individuals achieve significant financial goals yet have little to show for it due to limiting beliefs about worthiness and scarcity. These beliefs often stem from childhood experiences and shape our financial realities.
Jenna Lee stressed that while an “abundance mindset” is important, it’s not a substitute for practical financial management. It’s a two-fold approach: addressing both mindset and the “nuts and bolts” of finances. Gutsy Money focuses on helping clients gain a clear picture of their finances, which then provides a foundation for analyzing and transforming their money mindset.
Overcoming Money Anxiety
The topic of money anxiety and avoidance also came up. Jenna Lee shared her personal experience of financial avoidance after selling an agency. Despite having ample funds, she experienced anxiety due to a lack of clarity and awareness of her spending. She emphasized that “the only antidote to anxiety is action” because anxiety is future-based and rooted in uncertainty. Taking action in the present provides a sense of control over those uncertainties.
She described her process of using financial monitoring software to gain clarity and confront wasteful spending habits. While some revelations were challenging, the overall result was a significant improvement in her financial well-being.
Becca added to the discussion, emphasizing that anxiety is both mental and emotional. Our bodies try to avoid perceived future threats, but anxiety itself cannot change the future. Building trust in ourselves through values-based action, even in small ways, is key to managing anxiety.
Terra Rose connected the concepts of shame and anxiety, highlighting the pressure to achieve unrealistic financial goals often portrayed in our culture. She stressed the importance of discerning who we listen to and align our values with. She reiterated the importance of taking incremental steps to build a solid financial foundation.
Building a Foundation for Financial Health
Becca asked about the foundational steps for someone starting their financial journey. Jenna Lee explained that Gutsy Money always begins by addressing mindset, creating a safe space for clients to express their fears and concerns. They then focus on setting up a clear financial structure, including a chart of accounts and education on financial terminology.
She used a compelling analogy of cleaning out “emotional cobwebs” before “painting” a new financial picture. This process ensures that clients not only receive services but also gain financial literacy.
Money as a Language and a Relationship
The conversation highlighted that money is not just numbers; it’s a language and an energy. Many of us aren’t taught this language, which contributes to feelings of inadequacy and shame. Terra Rose shared a humorous yet poignant analogy, comparing the vulnerability of discussing money to the vulnerability of being naked in a room with lights.
Becca shared how reframing money as a boundary helped her overcome her pricing anxieties. She realized that undercharging not only harmed her but also the clients she served.
Jenna Lee emphasized the importance of guarding against harmful influences and seeking mentorship from those who have achieved the desired success. Observing the realities of their journeys provides valuable insights that are often absent from idealized portrayals.
The Hockey Stick of Business Growth
Jenna Lee used the analogy of a hockey stick to describe the often non-linear nature of business growth. It’s often flat for a long time, requiring consistent effort before the upward curve. This is a stark contrast to the get-rich-quick schemes that are often promoted, which can lead to disappointment and self-doubt.
Practical Tips and Mindset Shifts
For those who struggle with numbers, Jenna Lee reassured that accounting software simplifies the mathematical aspects. The key is to establish a clear chart of accounts and transaction categorization.
Terra Rose offered a creative approach to building a better relationship with money: personifying it. By giving our finances a name and engaging with them in a more relational way, we can shift our perspective and reduce anxiety.
The importance of co-regulation in our relationship with money was also discussed. Sharing our financial experiences with supportive individuals can rewire our brains and break down feelings of isolation and shame.
The Energy of Money
The energy of money and its exchange was explored. Terra Rose used the analogy of a well-organized house to illustrate how clarity and healthy boundaries facilitate the flow of money. When we know what our money is for, it’s more likely to come to us and grow.
Pricing and Value
The conversation tackled the challenge of pricing services, particularly in fields where the monetary value of results is less tangible. Jenna Lee advised conducting market research and asking clients about the value they receive. She also emphasized that often, service providers are undercharging.
Terra Rose added that it’s important to articulate the full value you provide, including the intangible benefits and long-term impact of your work.
Financial Responsibility in the Modern Age
Jenna Lee highlighted the unique challenges of financial responsibility in today’s world. With easy access to credit and constant bombardment of marketing messages, it’s easier than ever to live beyond our means. She emphasized the importance of financial clarity as a tool for making informed decisions and resisting impulsive spending.
Becca echoed this, pointing out the countercultural nature of financial responsibility and the pressure to keep up with unrealistic portrayals of wealth.
Money Matters: A Relationship, Not a Burden
Terra Rose concluded by emphasizing the importance of shifting our perspective on money from a burden to a relationship. This reframing can foster a healthier and more empowering approach to our finances.
This episode of the Motherhood Mentor Podcast provided invaluable insights and practical advice for women seeking financial freedom and empowerment.
