Episode 040: Money management for self-employed folks (with guest Sherry Andrew)

Sherry is a financial coach who helps self employed individuals understand manage their money. She often particularly works with people with ADHD. Learn how to manage your business and personal finances. Let Sherry be your guide to overcoming overwhelm, cutting costs, and reducing money-related stress! In this episode, we uncover tips for money management for self-employed folks.

Sherry Andrew’s website: https:/www.moneymindsetfc.com
Sherry’s LinkedIn: https://www.linkedin.com/in/sherry-andrew-343816146/

Listen on: Spotify, Apple Podcasts.

Summary:

In this podcast episode, Sherry and I discuss:

• Her personal situation and how she got her start as a money coach.
• Avoiding debt after job loss.
• What she needed to go through to make her business work for her.
• How to get the benefits of being self-employed without the negatives of unstable income.
• Why Lou can’t give you a flat out answer to, “how much should I spend on my ads?” — Sherry has a response to this.
• How Sherry helps you understand what you can spend money on for your business.
• What’s up with money saving rules?
• Sherry’s one-and-only money saving rule.
• Big investments can be scary, but they don’t have to be if they’ll help you get things done in a better way.
• Low hanging fruit items you can eliminate if you’re struggling with budget.
• Yes, phone calls can be a bother, but making them can help you get relief from payments.
• A money-saving area most people don’t think about.
• Some thoughts on money mindset and beliefs.

Get Sherry’s free resources mentioned in the episode to help your ADHD brain with biz finances.

Money management for self-employed individuals is essential for maintaining financial stability and sanity. Unlike traditional employees with a steady paycheck, solopreneurs must plan for irregular income, set aside taxes, and budget for both personal and business expenses. Creating an emergency fund, tracking expenses diligently, and investing in retirement savings can help ensure financial security. Additionally, working with a financial advisor can simplify money management and keep business finances ticking along.

I hope you enjoy this episode!