Episode 15 - Annette Schmidt

15. Money Mindset Coach Annette Schmidt of FinSavvy Mom

Annette Schmidt is a Money Mindset Coach known as the FinSavvy Mom. After years of bouncing checks, paying overdraft fees, and learning how to live on a budget she finally found financial success by changing her mindset and the way she approached money. Today on CFO at Home Annette and I discuss her personal money mindset turning points, ideas on credit cards, budgets, the dreaded latte, and more.

Key Takeaways:
- Annette personal money mindset turning points:
  - Seeing that there were bigger opportunities out there through her banking job
  - When exposed to her husband’s way of handling money, being open to learning and growing and not being ashamed of money
- It’s not just about how much money you make it’s about what you decide to do with that money
- Responsible credit card usage is a great way to leverage yourself financially. They provide:
  - Interest-free loans
  - Rewards and Cash-back . When using for these purposes you need to be in the financial position to pay off statement balance in full each month in order to avoid paying interest or accumulating debt
  - Budgets can be too restrictive. Simple pleasures are often habits, for lasting change back away from them gradually like you would when trying to change any habit.
- Budget for self-care
- Budget needs to be realistic for your lifestyle, your needs, and sustainable
- The role of “breadwinner” in a family holds a particular weight in a family; regardless of the gender of the person who plays that role. Each partner no matter their role needs to feel as though they have a voice and are empowered when it comes to the family finances.

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