Allison Baggerly: Getting Honest About Money
As business owners, we’ve spent a lot of time with finance coaches, gurus, and budget advisors.
And that’s why we can confidently say, we’ve never met someone quite like Allison Baggerly.
Allison is a blogger, influencer, and the founder of Inspired Budget where she combines her passion for teaching and finance to help other women learn about managing their money.
In our conversation with her, Allison was warm, funny, and seriously easy to talk to.
But what really stood out to us was her honesty and vulnerability.
Allison’s own struggle with debt as a young newlywed expecting her first child is front and centre on her website and it’s one of the first things she spoke about with us - no reservations and no holds barred.
She also got real about her tendency to overspend and how, like many women, she used to associate shopping and spending with happiness.
And how it’s a cycle she has yet to break out of completely.
This honesty means that whenever Allison does give you advice, it never feels patronizing, judgy, or holier than thou.
Allison’s financial advice comes from a place of ‘I’ve been there, I know what it feels like, and I got you.’
Which is exactly what people new to budgeting and financial planning need to hear, especially right now.
In our latest episode, Allison gets candid about her experiences with student loans, overspending, and how Inspired Budget came about. She also delves into her incredible (and beautiful!) ‘cash envelope system’, which trust us, will change the way your family thinks about money.
Here’s a peek at what else you can expect:
How Allison and her husband had the difficult conversation about debt
Allison’s experiences with debt growing up
The psychology behind overspending and retail therapy
How the cash envelope system changed her family’s finances
Why you shouldn’t be boxed in by the financial expectations of your industry
How Inspired Fitness has helped women deal with the COVID-19 crisis
How honoring your own budget rules makes you feel like a queen!
Resources
Inspired Budget - Cash Envelope System
This Week’s Joy:
Like many of us, Allison is spending the quarantine at home. So, she’s finding joy in spending time with her family in their backyard!
This Week’s Hustle:
There’s nothing we love more than a good planner and Allison is no different. She recommends the quarterly Full Focus planners by Michael Hyatt to organize your life (and have something pretty to look at!).
Know Your Numbers
In our business, we're big fans of financial literacy and accountability. Knowing your numbers is an essential aspect of building a successful business and inherent responsibility for any entrepreneur.
What you focus on grows, so pay attention to your money.
We use Bench for our bookkeeping. It's simple, elegant, and saves us so many hours that would otherwise be spent neck-deep in receipts on the other side of a spreadsheet.
Each month our transactions are automatically imported into Bench and we get on-demand financial reports. We even enjoy opening up our profit and loss statement to review each month. When tax time comes around, we are up to date and ready to go. And this is what Financial Empowerment feels like.
Use this link to save 20% off your Bench Accounting plan for the first six months!
This podcast is brought to you by the Marvelous online teaching platform.
Marvelous is an easy-to-use platform that helps you build and sell your own courses memberships and live-streamed programs. Go from idea to open for business in just minutes. If you're looking for a simple, streamlined way to build and grow an online business. You can learn more at Marvelous.
