BBP 109: From Stress to Success: Transforming Money from Enemy to Ally with Katherine Pomerantz
Shownotes:
In this episode of the Blogger Breakthrough Summit podcast, Katherine Pomerantz explains how money can be viewed as a dependable teammate in achieving business and life goals. She shares her personal journey from financial stress to understanding money management, emphasizing that money, like a good teammate, communicates honestly and helps identify areas needing improvement. Katherine’s story underscores the importance of financial literacy, especially for those who, like her, did not receive formal education on the subject.
About Katherine
Katherine, actress turned accountant, has capitalized on her artistic background to create the Money Storyteller MethodTM – a mindset and accounting framework that helps business owners scale businesses without mess or overwork. She firmly believes every creative idea has the ability to change the world if given the right financial support and opportunity. She leads an accounting firm & financial education company, and her expertise has been featured by VICE Media, Discover Card, The Penny Hoarder, and the Stacking Benjamins Podcast. She loves yoga, walking dogs, and throwing rad birthday parties.
???? Katherine’s Website
Synopsis
Ever felt like money is more of an enemy than a friend? You’re not alone. Today, we dive into an inspiring session from the Blogger Breakthrough Summit with Katherine Pomerantz, who shares her personal journey from financial stress to mastering money management. Whether you’re a beginner blogger or an intermediate one, these insights will help you transform your relationship with money and build the life and business you desire.
The Power of Money as a Teammate
Katherine starts by flipping the script on how we view money. Instead of seeing it as a source of stress, she suggests treating money like a teammate. Here’s why:
- Never Tires: Money works around the clock, never needing a break.
- Good Communicator: It provides regular updates on progress towards your goals.
- Honest Feedback: Money can point out where things are stuck and where improvement is needed.
Katherine’s Personal Struggles with Money
Before becoming a money management expert, Katherine faced significant financial challenges. Here’s a glimpse into her story:
- Career in the Arts: As a modern dancer and choreographer, Katherine’s career was fulfilling but not financially rewarding.
- Multiple Jobs: She worked 60-80 hours a week across three or four jobs, earning just $1,500 a month.
- Primary Breadwinner. With her husband pursuing a PhD, Katherine was the main financial support, adding to her stress.
The Turning Point
Katherine realized that her struggle wasn’t unique. Many of her friends and colleagues were in the same boat. This realization sparked a crucial question: “If I can figure out how money works, can I help others too?”
- Self-Education: Katherine decided to educate herself about money management.
- Helping Others: Her goal was to not only improve her situation but to assist others facing similar challenges.
Key Takeaways for Bloggers
Katherine’s journey offers several valuable lessons for bloggers:
- Educate Yourself: Don’t wait for someone to teach you about money. Take the initiative.
- Treat Money as a Tool: Assign jobs to your money and let it work for you.
- Be Honest with Yourself: Regularly review your financial situation and adjust as needed.
Bottom Line
Katherine Pomerantz’s story is a powerful reminder that financial struggles don’t have to be permanent. By changing how we view and manage money, we can transform it from a source of stress into a valuable teammate in building our dream life and business. Remember, you’re not alone in this journey, and with the right mindset and tools, financial freedom is within reach.
Related Content
- BBP 051 Why You Must Have a Formal Bookkeeping System as a Blogger (with Nayo Carter Gray)
- BBP 103 Navigating Self-Employment Tax with Janet LeBlanc
Transcript
[00:00:00].00] – Liz Stapleton
Hey there, amazing bloggers and business builders. Welcome back to another episode of the Blogger Breakthrough Summit podcast, where we dive into tips and tricks from the annual Blogger Breakthrough Summit so that you can build the life and business you really want. I’m your host, Liz Stapleton, and today, the wonderful Katherine Pomerantz is going to chat about something that many of us have a love-hate relationship, money. I’ll let her take it away.
[00:00:28].01] – Katherine Pomerantz
Money can be your teammate in building the life and business you really want. You can assign money jobs just like any other member of your team. And money will never tire, and it will never stop working on that job. It even has the power to create more of itself. Money makes money, right? We Have you heard that before? What’s more, money is a really good teammate. Not only does it never get tired, it’s a good communicator. It will give you regular updates about its progress and how close it is to achieving the goals you set for it. And money is not afraid, to be honest with you, so you can trust what it’s saying. It will tell you when things are stuck or when things are not working very well, and it will tell you where you need to focus your energy to improve. Do you know how to use money Did you ever think that? I didn’t. I didn’t. Remember, no one teaches this in school, and not everyone, actually, very few people have rich friends or parents or successful business owner acquaintances who are going to teach I didn’t do that either. I used to really struggle with money.
[00:01:32].19] – Katherine Pomerantz
Money was not my teammate. It was the greatest source of stress and fear in my life. As I mentioned, formerly, I was an actress. It’s probably more accurate to say I was a performer because I wasn’t really interested in film. I wanted to be a choreographer and a director. I was a modern dancer, as you can see here, and I like the symbolic and weird artsy things. Much to everyone’s surprise, including my own, I was very serious about my career but did decide to get married really young, and my husband wanted to go get a PhD. I wanted to support him, and so we moved to small town, Oklahoma, which is not the best place to support a full-time career in the arts. Not a lot going on in small town, Oklahoma, but I tried. I worked three or four jobs to fill in the gaps. I worked 60 to 80 hours a week, and I drove all over the state to go work here, work here, work here, audition there, or go do this, and all of that I was so proud when I would bring home $1,500 a month. Yeah, $1,500, $1,500 a month.
[00:02:39].24] – Katherine Pomerantz
Remember, my husband was a student. I was the primary breadwinner in my family at this point. We were stressed about money all the time. I mean, there just wasn’t enough of it. I had no idea how I could get more of it. I was already working four jobs. I could not work harder. I noticed also that all All of my friends and my colleagues and my mentors were doing the same things. That statistic I mentioned earlier, 56% of Americans don’t feel like they can save enough for retirement. Yeah, that’s more than half of all Americans. Over half of the people you know are also struggling like this. I just thought, I was like, Wait, okay, if I can figure out how money works, because clearly I am missing something. There’s something about this system that nobody told me. If I could figure that out, then I could help a lot of people.
[00:03:29].17] – Liz Stapleton
That’s it. Thank you for tuning in today. If you found this episode helpful, don’t forget to subscribe, share it with a friend, and leave us a review. Until next time, keep dreaming big and making those breakthroughs. You’ve got this.
