In this podcast episode, Michelle Perkins serves as the host and discusses the importance of reflecting on one's relationship with money and creating a budget for the new year. She encourages listeners to break down their expenses into smaller increments to gain a better understanding of their financial situation. Perkins emphasizes the need to assess past expenses and identify areas where expenses can be reduced or adjusted to align with financial goals. The episode targets individuals who are looking to organize their finances and set financial goals for the new year. It provides practical advice and insights on budgeting and managing personal finances, offering listeners a framework to improve their relationship with money and work towards financial success.

Michelle also discusses various financial goals and strategies for the year. She emphasizes the importance of having an emergency fund for financial security in case of unexpected events. Michelle advises listeners to consider other savings goals, develop a strategy for managing and reducing debt, and prioritize retirement savings. She urges young listeners to start saving early to benefit from compounding interest and suggests setting up automatic deposits into a worthwhile investment. Michelle concludes by offering her assistance and inviting listeners to contact her for personalized financial advice.

The specific date of the podcast and information about the speakers involved are not provided in the transcript. However, the topic is important as it provides practical guidance on budgeting, managing personal finances, and setting financial goals for the new year. It aims to help individuals gain control of their finances, make intentional choices, and work towards financial stability and future aspirations.

00:02 - Reflecting on your relationship
06:47 - Understanding your numbers
19:10 - Setting financial goals

What is the Money In New podcast about?
The Money In New podcast is about breaking down your relationship with money, offering tough love, money tips, and a money dating plan to help pave the way for better money practices and increased wealth.

Why is it important to reflect on your relationship with money?
Reflecting on your relationship with money is important because it allows you to understand your thoughts, feelings, and behaviors around money. It helps you identify any barriers to success and make improvements.

How can journaling help with gaining clarity about financial struggles?
Journaling is a fantastic way to gain clarity around your thoughts and emotions. It can help you unpack and understand why you may be struggling with certain financial decisions or investments.
What is the first step in creating a budget for the new year?
The first step in creating a budget for the new year is to assess your expenses from the previous year. This can be done by tracking your expenses using apps or spreadsheets, or by reviewing your bills and receipts.

Why is it important to break down expenses into different time frames?
Breaking down expenses into different time frames, such as monthly, weekly, or daily, can create a different emotional perspective. It helps you understand the cost of being you and allows you to make adjustments or plan for future goals.