Money Moxy Podcast

Join us in the Money Moxy Podcast episode as we talk with Bev Cox, Certified Financial Planner and owner of B. Cox Planning [http://www.bcoxplanning.com/], to discuss wealth building strategies for entrepreneurs and small business owners. As an entrepreneur herself, Bev shares wonderful insights on how to not get upside down in debt when you're just starting a business. We can't just think short term though - we have to think about the long term financial stability of ourselves and our families and about investing for retirement. Listen to the full Money Moxy Podcast on Spotify, Apple Podcasts, Stitcher, or https://moneymoxy.biz/podcast [https://moneymoxy.biz/podcast].

Michelle and Gwen each made a list of their top 5 money habits, and in this episode they compare and explain their lists. Included below is only a summary of their lists, please make sure to listen to the full episode to hear the details, explanations, and personal relationships to each habit. Michelle’s List 5. Always have a plan and budget 4. Set aside money for taxes 3. Live on less than you make 2. Have multiple streams of income 1. Pay yourself first Gwen’s List 5. Support local, especially black owned businesses 4. Get rid of bad debt, and use good debt wisely (i.e. to improve credit or increase revenue) 3. Have multiple income streams, preferably not all tied to time 2. Create a budget that works with yourself and your habits, and track your spending habits 1. Write out your cash flow - every dollar coming in and going out - so you know your financial picture And too important to put on a regular list: * Accept your current financial habits without judgement and make the choice to work towards where you want to be. * Believe in yourself!

Many entrepreneurs bootstrap their businesses, funding themselves through their own income and/or through the sale of their own products and services. While this works really well for many, it also limits the ability to scale and can put a lengthy timeline on growth. External money, such as investments and loans, can help a business launch to the next level - to get out of that side hustle or hobby and into the full time business owner role. In this episode, we talk with Aikita Jones, the owner of Swash Body [https://www.swashbody.com/] to learn about what it's like for a small business owner to apply for, and then manage, external money.

There is always risk associated with entrepreneurship. But how do you know if the risk is worth it? Sometimes you can run a risk analysis and determine your ROI (return on investment), and sometimes you just have to take a leap of faith. In this episode, Liz Van Dyke, owner of Stocklist Goods [https://stocklistgoods.com/], discusses her most recent risk as a business owner, increasing her puzzle inventory by almost 3000% (24 to 700) during the pandemic and becoming a core distributor for a puzzle manufacturer.

2020 is half over, and what a year it is! Entrepreneurs are usually known for being adaptable, always willing to change to create the product/service that will sell. But 2020 is putting that to the test. Join Gwen, Cofounder of Money Moxy [http://www.moneymoxy.biz],  and Michelle, Founder of Circle Up Productions [http://www.circleup.fun], to talk about pivoting in business, especially in 2020 to make your endeavor Covid Compatible [https://www.moneymoxy.biz/blog/covid19].