Inspiring Money Stories: 3 Successful Businesses At 30

Inspiring Money Stories: Mandy

1 ) Introduce Yourself to The WwM Readers!

Hi! I’m Mandy and I’m 30 years old. My husband, Eddie is 32 and we’ve been married for 5 years. We have two kids — a daughter who is almost three and 1-year old son. My husband grew up in Canada and I grew up in upstate New York, both in suburban areas.

2) Did your family’s money situation influence you as an adult?

My father is a banker, so he is naturally very conservative about money. He and my mom never spoke about money in a flashy, desirable way. They focused more on ways to be smart with saving our money (not eating out, loving to find a deal, etc.) If we did anything extravagant or bought something it was always special which made it extra fun.

3) What was your post-secondary experience and the start of your career path like?

I received a scholarship to attend a private school to obtain my Associates Degree in Leadership Studies and Business Administration. My husband received his Associates Degree in Canada which is amazingly affordable but earned his Chiropractic Degree In New York. We ended up with over $150,000 in student loans from that degree alone.

4) Tell us about your income performance over time and involvement of your partner in your financial matters?

Growing up being heavily involved in sports, my jobs were inconsistent. I’d help coach or run clinics but paychecks had to last a long time. This mindset carried over even when I was making money consistently. Saving came easily.

5) What do you think is one of the most difficult money challenges for women?

The biggest money challenge for me is just having all the pressure. I know it sounds simple, but I had to the be the one saying when we could buy a new house or when we could go on a vacation. I feel grateful that my husband did allow me to take over the expenses — but it’s a lot!

6) Did you have a big “aha” moment related to your finances?

The big AHA moment for me was when my husband and I were renovating our mixed-use office space. I had a complete breakdown (my quarter-life crisis!) because we had one unexpected expense after another. We had to live out of a tiny room, stay with my parents, shower and get ready in a construction zone with no lights or mirrors.

7) What tools, apps, or programs do you use to keep track of your finances?

Quickbooks & excel! I know it sounds simple but I started living by excel and filtering into quickbooks. Also, having separate bank accounts for your business checking, business savings, and business taxes is HUGE to be able to separate commissions. I also started to pay myself a salary so I am able to really budget even when I have high or low income months.

8) What does your work-life balance look like?

I turn work-life balance into work-life presence. I love this term because I think the biggest thing that robs us (especially women) from satisfaction is that when we’re at work we’re thinking about our spouse/kids and when we’re with our kids/spouse we’re thinking about work.

9) What advice would you give to a friend who struggles with money?

Get very clear on your goals — starting with the end in mind. I would ask what are the biggest, craziest goals you could ever dream of. Then, I would get ultra clear about what that looks and feels like — to really see if that is a goal worth working toward. For some people, that is having a place of their own, for others, it’s buying an island! Whatever it is, know that it’s YOUR dream and be confident in that.

10) Is there anything else you’d like to share with our Women who Money readers?

I’m a firm believer that the money we have in our bank account is not ours. It’s money God gave to us to use, to serve people. The more we’re not tied to money being important, the more we are free to use it. Focus on serving and providing value to the people around you, and it will come to you!

The WwM Team’s Key Takeaways from our Interview with Mandy:

  • Parents holding back their comments about others’ wealth and status helped her to see people more as equals
  • Side gigs help pay the bills so you can skip other full-time offers and concentrate on the business you’re building
  • Tracking every cent mattered and helped her develop a saving habit — which paid off when she had a variable income
  • Living off one income and using a budget helped them grow a stronger, more customer-oriented second business (before they started a third successful business!)
  • Sometimes you have to give up work that matters. Keep an eye on it but find someone competent to relieve some of the stress you are facing
  • Work-life presence helps you excel and find happiness in whatever you are doing throughout your day
  • Talk to people you know about money. Learn from each other and share freely.
  • Taking on an abundance mindset makes you wealthy in more ways than one!
  • Get clear on your goals, figure out your current state, and chart a realistic timeline. Don’t go after things that aren’t clearly aligned with your goals and dreams.

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