028 | Money misconceptions & financial accountability with Mary Beth Storjohann, Workable Wealth

Mary Beth Storjohann of Workable Wealth is an author, financial planner and accountability coach working to help clients in their 20s-40s make smart, educated decisions with their money. I met Mary Beth at a conference last year and was so impressed how she spoke about money from a place of confidence and power. We were honored to have her speak at our Paper Camp+ conference and I’m excited for you to listen to this episode.

Today we’re talking about money misconceptions and fears, common reasons people seek out a financial planner and why it’s important for you to know your numbers.

ON TODAY’S EPISODE:

A misconception that business owners tend to have about money
Mary Beth’s core client base
Helping her clients with both professional and personal finances due to the intersection of both
The importance of reassessing where your business is often
Her role with her clients
Her philosophy on keeping overhead expenses down
The importance of being aware of and managing subscriptions
Having a goal when you are reviewing your spending
What SMART goals are and how to utilize them
Not comparing yourself to other people’s highlight reels
Listening to constructive criticism but not allowing it to take you off course
What you should be focusing on
The importance of accountability when working towards your financial goals
Having two numbers in mind when setting your goals
Creating structure around pro bono work
What’s next for Mary Beth & Workable Wealth

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KEY TAKE-AWAYS

“A lot of people think that they’ll never have financial success, financial clarity, or financial peace, and that’s a huge misconception, because although it does take work … there’s no magic pill … it’s just really about taking small steps.” – Mary Beth Storjohann

“You want to reevaluate where your business is at and what your goals are for yourself on a consistent basis.” – Mary Beth Storjohann

“I like the numbers, I am in the numbers, but I still need somebody else to bounce ideas off of and to help hold me accountable for getting things done.” – Mary Beth Storjohann

“Let’s not make that investment until you are certain that this new side project is actually up and running and worth it.” – Mary Beth Storjohann

“Instead of paying this subscription $50, pay yourself $50 because you deserve to be paid more.” – Mary Beth Storjohann

“We’re cutting back so that you can meet your personal goals, not just to be frivolous.” – Mary Beth Storjohann

“There’s lots of goals, and so before you dive into reviewing your spending, one of the things that is important is having that goal around what you’re looking for.” – Mary Beth Storjohann

“Focus on what your net revenue is. What are you taking home?” – Mary Beth Storjohann

“At the end of the day, what everybody else is doing doesn’t matter. It’s not going to affect your bottom line; it’s not going to affect your retirement savings.” – Mary Beth Storjohann

“It’s important to remind people that there’s different seasons in life; that number may be changing; the goals may be changing; but it’s just important to constantly be considering them and thinking about them.” – Katie Hunt

“This is a business, and you want it to be successful, and you want it to sustain your goals and your lifestyle and your family, and without you getting paid, you’re really just creating stress and taking yourself even further away from those things that matter to you on the personal side.” – Mary Beth Storjohann

CONNECT WITH MARY BETH STORJOHANN

Website: Workable Wealth | Facebook: @workablewealth | Instagram: @marybstorj | Twitter: @marybstorj

Connect with Katie Hunt

Katie Hunt is a business strategist, podcaster, mentor and mama to four. She helps product based businesses build profitable, sustainable companies through her conferences, courses and coaching programs.

Website: prooftoproduct.com | Instagram: @prooftoproduct