How (and Why) to Shift Your Money Mindset | Business with Purpose Podcast EP 314: Jen Smith, Frugal Friends

My guest this week is Jen Smith, a personal finance expert and author of the Amazon best-selling book The No-Spend Challenge Guide. 

Jen and her husband paid off $78,000 of debt in less than two years making well under 6-figures. She talks about it on her blog, Modern Frugality, and as the co-host of the Frugal Friends Podcast. 

3:07 – Jen 101

• Jen’s podcast teaches people how to spend. 
• She believes people can live a life they love with the money they already have.

9:48 – Money mindsets

• We think that money is just numbers on a screen when you check your account balance or dollars in a wallet, but it’s only a means to get the things you want. 
• Money touches everything in your life that you care about. 

19:30 – Pivotal moments

• There are pivotal moments in your life where you can choose to be challenged, but it will provide a lot of growth. 

21:58 – Dealing with debt

• Paying off debt is like going on a diet. You try to go extreme and lose it fast, and then a week in you aren’t doing it anymore. 
• The radical middle is making small changes with large impact.

32:41 – Less friction

• The less friction and barriers there are to paying for something, the more people pay, on average, according to studies.

39:53 – Post debt hangover

• After paying off debt, it can be hard to get over the shame of how you previously spent money.
• You can always choose a different path.

51:17 – Get to know you

• Her splurge item? CrossFit
• Something we’d never guess about her? She doesn’t like celery.

FEATURED QUOTES

When I was able to identify what a money mindset really is, I was able to start identifying what I thought about money. 

We think that money is just numbers on a screen when you check your account balance or dollars in a wallet, but it’s only a means to get the things you want. 

Money touches everything in your life that you care about. 

https://www.modernfrugality.com/author/jensmith/page/5/

https://www.frugalfriendspodcast.com/about/

Thank you to our partners of the show!

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I’d like to thank our other partner of the show and that’s Tradlands. Tradlands is an INCREDIBLE sustainable fashion brand that believes in clothing that you can live in NOW and love forever. Clothing that not only makes you feel like your best self, but also fits in a way that flatters. Their gorgeous dresses, pants, tops, and more are designed to move with you throughout your busy days. Their Nico dress is my dress in a love language —not only does it have sleeves, but also POCKETS and you know how I feel about dresses with pockets. I love how comfortable and stylish each piece – and they come in colors like classic neutrals or vibrant hues. One of the things I love most about Tradlands is their focus on sustainability and creating small batch clothing that lasts… they never over produce what they make and focus on only the highest quality materials. And you know how much I love supporting small businesses, too. Check them out at https://tradlands.com/businesswithpurpose and use the code MOLLY20 for 20% off!