Throughout her entire career in the banking industry, Marsha Barnes was always a diligent saver. But she never understood what she was saving for until two years ago. It was then that she decided to launch The Finance Bar, a startup mobile — yes, as in wheels — personal finance hub meant to empower people to take control of their finances. The journey wasn't always easy — Marsha sunk over $35,000 of her own savings into the business and didn't make money right away. When she finally quit her job in December 2016 to focus on the business, she took a huge gamble — on herself.
"What if you just wake up one day and there's something different that you want to do in life? How do you pivot?
For me, one day I woke up and I said 'I want to leave my job to do something that I really love to wake up and do.' And that is why I was saving money all along. I just didn’t realize it."
This episode has it all! We are joined by our favorite money and career expert, Lynette Khalfani-Cox aka "The Money Coach".
Lynette went from a career as a journalist to an entrepreneur commanding $12,500 speaking fees, authoring over a dozen books, and crafting financial courses for consumers and businesses alike. Her website is Askthemoneycoach.com.
On the show, Lynette shares her best advice on how to negotiate on the job. Her biggest tip? Know what your minimum salary requirement is before you even walk into an interview! And she has tips on how to find YOUR perfect number on today's show.
Then, Lynette not only answers YOUR questions about managing the cost of college, she tells you personal lessons she learned after sending off her eldest daughter to college last year.
Like many kids in college, her daughter struggled to adjust and when her GPA dropped below the 3.5 minimum for her tuition scholarship, Lynette and her family were suddenly faced with a $50,000 out of state tuition bill. She tells Brown Ambition the unique and BRILLIANT way she and her hubby decided to tackle that hurdle and shares other tough lessons she's learned about preparing her kids for college life.
We're back BA Fam!
On today's show:
Tiffany shares the highs (and hilarious lows) of her family vacation at Universal Studios.
Is Baby Prom really a thing? And why did a Philadelphia mother spend $25,000 on her son's pre-prom party? We break down the headlines.
Then we take reader "L"s question: Shes' $80,000 in debt and wants to know if bankruptcy is an option. We explain what really happens when you file bankruptcy and when it might be a good idea.
For more information about bankruptcy, check out MagnifyMoney's post here >