64 episodes

Making money and managing money are two separate skills. Dr. Maria James, The Money Scientist™ and successful guest entrepreneurs discuss creating a thriving business and establishing personal financial security. Don't be a successful entrepreneurs whose personal finances aren't great or the person who fails in business but is great with your personal finances. If you're an entrepreneur, solopreneur, working a side hustle, or small business owner this is for you. Let's talk about what it takes to be successful in business and build wealth.

Pocket of Money Podcas‪t‬ Pocket of Money Podcast

    • Entrepreneurship

Making money and managing money are two separate skills. Dr. Maria James, The Money Scientist™ and successful guest entrepreneurs discuss creating a thriving business and establishing personal financial security. Don't be a successful entrepreneurs whose personal finances aren't great or the person who fails in business but is great with your personal finances. If you're an entrepreneur, solopreneur, working a side hustle, or small business owner this is for you. Let's talk about what it takes to be successful in business and build wealth.

    POM063: 8 Tax Tips to Better Your Business and Personal Finances with Atiya Brown

    POM063: 8 Tax Tips to Better Your Business and Personal Finances with Atiya Brown

     



    In this episode Atiya Brown, The Savvy Accountant shares:









    * the most common mistake new entrepreneurs make with finances

    * what documents entrepreneurs should track for taxes

    * the best tools to track items for business records

    * the most important items to track to avoid problems with taxes

    * personal finance tips for entrepreneurs

    * money management tips to better your credit the most important tip to get business credit









    Listen and subscribe: iTunes, Stitcher, Spotify







    Atiya Brown, The Savvy Accountant







    Atiya S. Brown aka The Savvy Accountant is a CPA, CA, and a Certified Financial Educator Instructor.







    She has over 15 years’ experience in the accounting/finance world. She attended The John Molson School of Business (JMSB) in Montreal, Canada for both undergrad and graduate studies. She finished in the top 5 of her graduating class before completing the Chartered Accountancy examination to become a CPA, CA.







    Atiya is the creator of The Savvy Accountant™ – where she specializes in helping small business owners maximize their financial position and position them for growth. She has a particular expertise within the real estate industry and is their go-to Accounting and Tax Advisor.







    Resources Mentioned:







    What Are The Money Rules? by Rayna Brown







    This is a children’s money book written for children by a youth author.







    MileIQ – mileage tracker







    Savvy Accountant – business website for Atiya Brown







    Live Financially Savvy – personal finance website from Atiya Brown







    WISE Financial Fitness







    WISE Financial Fitness is filled with personal finance and business courses, protocols, and resources to increase your financial fitness. You can be paired with a Junior or Senior Money Scientist to craft a comprehensive money strategy for your unique situation.







    Thanks for Listening







    If you have any comments or questions about this episode, leave a comment below. If you liked what you heard subscribe on iTunes, Stitcher, or wherever you listen to podcasts and rate it. This helps the podcast show up for others.

    • 41 min
    POM062: Cutting Costs Versus Increasing Income

    POM062: Cutting Costs Versus Increasing Income

    I’ve debated with others if a person who is working on mastering their money should be focused on cutting costs and decreasing expenses or increasing income. This is a question or debate have seen play out online as well. In this episode, we are going to talk about which one is the best way to increase financial fitness: cutting costs or increasing income.

    Listen and subscribe: iTunes, Stitcher, Spotify

    Resources Mentioned:

    WISE Financial Fitness

    WISE Financial Fitness is filled with personal finance and business courses, protocols, and resources to increase your financial fitness. You can be paired with a Junior or Senior Money Scientist to craft a comprehensive money strategy for your unique situation. To get the 60% discount, use the code WISE60. It expires February 15, 2021.

    Financial Planning Roadmap

    This financial planner helps you consistently budget (by month or paycheck), analyze your budget, and track and analyze side hustle earnings for profit. If you don’t like your financial situation, then change it.

    WISE Money Challenge Tips to Save and Earn More Money

    Ebook where I include over 100 side hustle resources in 10 categories. This book also contains in-detail 22 specific actionable tips to save or earn more money. It’s set up as a challenge to get you to take an action each day.

    WISE Budget Box

    Go from “I hate budgeting” to consistently planning, successfully budgeting, and saving money every month with the WISE Budget Box subscription. Only $75 per quarter ($25/month).

    Just when you start to fall off, the WISE Budget Box will give you a motivational jolt and a box filled with a new set of tools every 90 days. You’ll also have continuous access to the WISE Financial Fitness portal filled with courses, protocols, and digital resources.

    Thanks for Listening

    If you have any comments or questions about this episode, leave a comment below. If you liked what you heard subscribe on iTunes, Stitcher, or wherever you listen to podcasts and rate it. This helps the podcast show up for others.

    • 19 min
    POM061: New Personal Finance and Business Rules Learned from the Pandemic

    POM061: New Personal Finance and Business Rules Learned from the Pandemic

    With the pandemic and quarantines, we had to transition to doing almost everything at home. We had to rethink a lot of activities and normal protocols for doing things. This also applies to how we deal with our money and business or side hustle. In this episode, we’re going to discuss how the rules or common procedures around personal finance and business have shifted or changed. Things that you will need to do for financial and business success.

    Listen and subscribe: iTunes, Stitcher, Spotify

    Resources Mentioned:

    The Millionaire Next Door by Thomas Stanley and William Danko

    The Wealth Choice by Dr. Dennis Kimbro

    WISE Financial Fitness

    WISE Financial Fitness is filled with personal finance and business courses, protocols, and resources to increase your financial fitness. You can be paired with a Junior or Senior Money Scientist to craft a comprehensive money strategy for your unique situation.

    WISE Budget Box

    Go from “I hate budgeting” to consistently planning, successfully budgeting, and saving money every month with the WISE Budget Box subscription. Only $75 per quarter ($25/month).

    Just when you start to fall off, the WISE Budget Box will give you a motivational jolt and a box filled with a new set of tools every 90 days. You’ll also have continuous access to the WISE Financial Fitness portal filled with courses, protocols, and digital resources.

    Thanks for Listening

    If you have any comments or questions about this episode, leave a comment below. If you liked what you heard subscribe on iTunes, Stitcher, or wherever you listen to podcasts and rate it. This helps the podcast show up for others.

     

    Episode Transcript:

    This transcript is edited and not verbatim.

     

    Hey Success Rebels, It’s Dr. Maria James The Money Scientist. With the pandemic and quarantines, we had to transition to doing almost everything at home. We had to rethink a lot of activities and normal protocols for doing things. This also applies to how we deal with our money and business or side hustle. In this episode, we’re going to discuss how the rules or common procedures around personal finance and business have shifted or changed. Things that you will need to do for financial and business success.

    As a reminder we have great resources and articles on the blog at pocketofmoney.com. For those looking for a deeper dive into mastering their money and their business check out our programs WISE Financial Fitness and WISE Budget Box. Not only is WISE Financial Fitness filled with courses, protocols, and resources to increase your financial fitness, but you can be paired with a Junior or Senior Money Scientist to craft a comprehensive money strategy for your unique situation. I will have a link to WISE Financial Fitness and the WISE Budget Box on the show notes page at pocketofmoney.com.

    There was a significant shift in the financial status of a lot of people. A lot of people found themselves in financial situations that was unexpected in terms of good and bad. Millions and millions of people had to file for unemployment. So many people were furloughed or let go from their positions and had difficulty finding a new position in their industry because the entire industry was negatively impacted by the pandemic. It’s one thing for a single company to be going through a tough time and have to furl...

    • 28 min
    POM060: How to Pay Off Six Figures of Debt as a Couple with Bevin Morgan

    POM060: How to Pay Off Six Figures of Debt as a Couple with Bevin Morgan

    Listen and subscribe: iTunes, Stitcher, Spotify

    Bevin Morgan is a financial wellness coach providing community and accountability to Black women who are ready to step into financial confidence and abundance.   She has paid off over $200,000 of debt to become debt free. She currently owns two duplexes and is planning to buy six additional units over the next two years. She has made several job and career changes and is currently building a successful business as she works full-time. Her relationship with money has helped her live a life of purpose and ease despite the fact that she’s never stopped working hard (it just doesn’t feel like hard work).

    In this episode, Bevin discusses how she dug her way out of taking granola bars from work to survive to paying off $200,000 of debt without only being extremely frugal. You’ll learn



    * steps to create a mindset shift

    * an action plan to pay off debt

    * key tools or tips to get out of debt and stay motivated

    * how to work as a couple towards financial goals



     

    Resources Mentioned:

    Bevin Morgan’s Website – get additional information and resources

    Bevin’s Instagram profile

     

    WISE Budget Box

    Go from “I hate budgeting” to consistently planning, successfully budgeting, and saving money every month with the WISE Budget Box subscription. Only $75 per quarter ($25/month).

    Just when you start to fall off, the WISE Budget Box will give you a motivational jolt and a box filled with a new set of tools every 90 days. You’ll also have continuous access to the WISE Financial Fitness portal filled with courses, protocols, and digital resources.

     

    Thanks for Listening

    If you have any comments or questions about this episode, leave a comment below. If you liked what you heard subscribe on iTunes, Stitcher, or wherever you listen to podcasts and rate it. This helps the podcast show up for others.

    • 38 min
    POM059: 11 Business Tips to Survive a Recession or Economic Downturn

    POM059: 11 Business Tips to Survive a Recession or Economic Downturn

    Listen and subscribe: iTunes, Stitcher, Spotify

    The entrepreneur roller coaster may have been crazier than normal for the past 12 months. No one really foresaw such craziness was going to happen. However, it’s a matter of time before a recession hits. You can take steps to make it through the current downturn and to make sure you’ll weather a recession successfully. In this episode, you’ll learn eleven strategic tips and actions to recession-proof your business. These tips apply whether you’re a service or product-based business.

    Resources Mentioned:

    WISE Budget Box

    Go from “I hate budgeting” to consistently planning, successfully budgeting, and saving money every month with the WISE Budget Box subscription. Only $75 per quarter ($25/month).

    Just when you start to fall off, the WISE Budget Box will give you a motivational jolt and a box filled with a new set of tools every 90 days. You’ll also have continuous access to the WISE Financial Fitness portal filled with courses, protocols, and digital resources.

    Business Goals Planner

    Get organized, make progress, remove overwhelm, and increase your revenue. You’ll design clear goals and a powerful strategy to achieve them. Don’t just make a long to-do list that leaves you in overwhelm.

    Focus on tasks not just your schedule. Clearly write tasks each day that will help you move your projects along. Organize tasks each day by project to help with project management. Stay ultra-focused each quarter. You’ll power through your tasks with this 90 day progress system.

    Financial Planning Roadmap

    This financial planner helps you consistently budget (by month or paycheck), analyze your budget, and track and analyze side hustle earnings for profit. If you don’t like your financial situation, then change it.

    The Brave Entrepreneur’s Desk

    I reveal major lessons l learned during my journey, and powerful affirmations and epiphanies that will keep you motivated and progressing as an entrepreneur.

    Thanks for Listening

    If you have any comments or questions about this episode, leave a comment below. If you liked what you heard subscribe on iTunes, Stitcher, or wherever you listen to podcasts and rate it. This helps the podcast show up for others.

     

    Episode Transcript:

    Hi Success Rebels. This is Dr. Maria James, The Money Scientist. For many of us, it’s been a tough time to be an entrepreneur or small business owner. While for some of us, the last 12 months or so have been the most lucrative time period in quite a while.

    I’ve spoken with colleagues who hit revenue milestones and have spoken with some whose revenue came to a halt.

    I guess like any major event or situation, the pandemic made some industries and side hustles become popular. For example, accounting became really hot as people try to make sure their finances were on point. Of course, everything virtual went through the roof. I saw things like virtual babysitting and virtual storytime become very popular.

    Everyone felt like they had to become a expert on zoom overnight. Of course, this resulted in zoom stock going through the roof.

    No matter your business or side hustle you had to do some sort of pivoting as a new normal was established. Even if your business provided and online service or product,

    • 28 min
    POM058: Determine Your Financial Status to Make Strong Goals

    POM058: Determine Your Financial Status to Make Strong Goals

    Listen and subscribe: iTunes, Stitcher, Spotify

     

    In this episode, I discuss important financial status indicators you should review before drafting your financial goals. Get clear on your real status and determine which financial goals should be top priority to increase financial fitness.

     

    Resources Mentioned:

    WISE Money Challenge Tips to Save and Earn More Money

    Ebook where I include over 100 side hustle resources in 10 categories. This book also contains in-detail 22 specific actionable tips to save or earn more money. It’s set up as a challenge to get you to take an action each day. As a Success Rebel and listener of the podcast, you can get it for free. Use the discount code relief.

    WISE Financial Fitness Score

    Take the assessment to get your financial fitness score. This score is based on an algorithm I created to take into account not just the typical financial status indicators but behavior and mindset as well.

     

    Episode Transcript:

    Hey Success Rebel, it’s Dr. Maria James, The Money Scientist. We are officially in 2021. At the start of a new year is usually when a lot of us are focused on goals and changes that we want to see in our lives and our businesses.

    Many people make New Year’s resolutions and either save them, write them down or create vision boards and collages. There’s something about the start of the new year that makes you think of a fresh start in general. It usually feels like everything is full of potential and opportunity, like you can make changes and progress.

    Many New Year’s resolutions and new goals involve finances, and positive that this year is no different, probably even more so than usual.

    You’re likely looking to increase your income this year, save more money, knockout some debt, or probably beef up your assets. And maybe all of the above.

    This pandemic exemplifies why financial stability and financial security are so important. Financial stability is when your current financial situation is stable. Your income can take care of short-term liabilities aka your bills. You can purchase everything you need to survive. You also are able to handle most unexpected expenses.

    Financial security means you can go beyond the basics. You have money and vehicles in place to handle future long-term financial goals and expenses. You’ve also taken steps to protect your money and wealth. You are secure in your ability to take care of things now and in the future.

    These two things were rocked and completely stripped from a lot of people and most quite unexpectedly. It really brings home the importance of having money set aside that can accommodate several months’ worth of bills a.k.a. an emergency fund. Another major take-away is the importance of multiple income streams.

    We’ve all heard about the importance of multiple income streams before, but the pandemic really reiterated that lesson.

    Side hustles became significant lifelines to keep some level of income for many people and a way to focus on shoring up financial goals for others. An extra few hundred dollars per month can make a big difference. An extra few thousand dollars per month definitely makes a difference.

    I really advocate for everyone to have a side hustle, multiple streams of income. Also, to diversify those streams. So, what do I mean by that, diversify? Well, have the streams be in different things. For example, I know a lot of people pick up a second job and some a third job in...

    • 14 min

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