Does it sound familiar to feel like your personal finance decisions are out of your control? You may have been told to just budget better and yet, you still feel overwhelmed by financial stress. The pain of feeling like you’re constantly struggling to make ends meet despite trying to budget better can be exhausting and demoralizing. But there is a way to understand the impact of policy on your personal finance and take control of your money.
I want rest for everybody that I know. It can be for one day. It could be a staycation away. Right? It doesn’t have to be crazy. Rest. But I need people to prioritize rest.
Michelle Jackson
My special guest is Michelle Jackson
Michelle Jackson is a well-established figure in the personal finance sphere, renowned for her extensive experience attending multiple Fincon events and podcasting awards. With a strong focus on equity access and policy perspectives, Michelle brings a wealth of knowledge and insight into the impact of policy on personal finance. Her dedication to advocating for social justice and collective well-being makes her a compelling voice for highly sensitive individuals aiming to comprehend the intricate relationship between money and policy. Drawing from her expertise and commitment, Michelle offers invaluable perspectives on navigating the complexities of financial decisions influenced by policy.
This is Michelle Jackson’s story:
Michelle Jackson’s awareness of the impact of policy on personal finance was sparked during her participation in Fincon events. Frustrated by the lack of representation of equity, access, and policy perspectives, she yearned to find a community that understood the complex interplay between financial decisions and external influences.
Through her journey as a content creator in the personal finance space, Michelle realized that her advocacy work was deeply intertwined with her values. This led her to make a conscious decision to align her monetization strategies with her passion for standing up for important causes. Michelle’s story serves as an invitation for others to acknowledge the emotional and empathetic aspects of personal finance decisions, transcending the traditional narrative of budgeting to unveil the profound impact of policy on individual financial realities.
Michelle Jackson loves to have the financial conversations that are often ignored. Why and how financial policy impact our money? Especially women’s money.
In this episode, you will be able to:
- Understand how policy impacts your personal finances to make informed decisions and take control of your money.
- Explore the intersection of personal finance and social justice to create a more equitable and empowered financial future.
- Prioritize rest and self-care to enhance your overall well-being and financial resilience.
- Develop a work schedule and social media strategy that aligns with your personal and financial goals for greater balance and success.
- Cultivate authentic connections and genuine relationships to support your financial journey and overall happiness.
Increased understanding of policy’s influence on financial decisions.
Money – it’s something we all deal with daily, yet many of us may not fully grasp how highly dependent our financial decisions are on specific policies in place. From taxation to education, infrastructure to welfare benefits, policies play a crucial role in shaping our financial landscape and consequently, our financial decisions.
Different policies can drastically affect the economic climate, causing shifts in investment opportunities, purchase decisions, or perhaps in extreme situations, survival strategies. This tight correlation highlights the significance of being aware and informed about these policies and their impacts, as only then can we make truly informed financial decisions.
Michelle Jackson’s personal experiences lead her to draw attention to the role policy plays in personal finance. She talks about her time in Europe, where mandated vacation time impacted her overall wellbeing positively. Additionally, she pulls out examples closer to home like the initiative offering free transit during the summer in Colorado. Her insights highlight how policy changes can alleviate certain burdens, enhance quality of life, and directly influence financial situations. Keeping an eye on the bigger socioeconomic picture, as Michelle did, might just be the key to unlocking a better understanding of your personal finance roadmap.
Accessibility Pricing and Financial Coaching.
Financial coaching, unlike other services, demands a pricing model that ensures it remains an accessible resource for everyone. When structured this way, it can reinforce inclusivity and fairness by providing wider-reaching support to individuals across diverse economic backgrounds. This model doesn’t just have social benefits; it could build a loyal, expansive clientele in the long run, offering sustainable growth for the business.
Diana dollies out an excellent illustration of this with her own life lessons as a money coach. Charting 1-3% of the clients’ monthly gross income, her accessibility pricing model encompasses equality and affordability. Her belief that compensation can also be non-financial unfolds a new perspective on monetizing one’s work, stretching us to think of ‘value’ beyond the immediate monetary gain.
Impact of childhood financial background.
When it comes to people’s financial behaviors and attitudes, the impact of their childhood financial background can hardly be overstated. How money was handled in the household, the attitudes and messaging around money, the family’s socioeconomic status – all these weave an intricate tapestry of financial beliefs and patterns that often carry forward into adulthood.
Michelle Jackson underlines this aspect articulately as she shares about her childhood financial background. Her mother’s financially challenging circumstances post-divorce planted in her an early understanding of financial setbacks and the importance of resilience. By examining and acknowledging how her past still permeates her present monetary mindset, she opens a gateway for transformation – serving as a catalyst for the listener’s self-exploration of their own childhood money experiences.
The resources mentioned in this episode are:
- Check out Creators Getting Paid to gain insights into building a successful business without relying heavily on social media platforms.
- Explore Michelle’s Colorado project and sign up for the newsletter-based business to receive engaging content about Colorado, including multimedia, interviews, and promotions.
- Check out Michelle’s podcast michelleismoneyhungry.com, especially the one on homelessness in Colorado –
Timestamped summary of this episode:
00:00:02 – Connecting through Social Justice at Fincon
Michelle shares her experience of attending Fincon and how a meetup focused on social justice changed her perspective on the personal finance creator space. She emphasizes the importance of creating connections and visibility for those with diverse perspectives.
00:02:54 – Advocacy and Belief Systems
Michelle discusses the challenge of engaging with individuals whose belief systems may not align with her advocacy work. She emphasizes the importance of focusing on the audience that resonates with her message and being respectful of differing perspectives.
00:06:01 – Highly Sensitive Money and Empathy
The conversation delves into the concept of highly sensitive people and how empathy plays a significant role in their decision-making process. Michelle highlights the need for processing and setting boundaries, as well as the impact of feeling the pain of others.
00:12:16 – Monetization and Ethical Alignment
Michelle shares her perspective on monetization, emphasizing the importance of aligning with her values and finding different income sources within her brand. She discusses the ethical considerations and the importance of being unapologetic about her business ventures.
00:15:25 – Impact of Different Financial Backgrounds
Michelle expresses her acceptance of different payment amounts, drawing from her Buddhist beliefs. She discusses how financial backgrounds from her childhood still impact her today.
00:16:06 – Lifestyle and Financial Flexibility
Michelle shares her decision to move to Mexico City for its lower cost of living, cultural richness, and financial flexibility. She emphasizes the importance of giving from abundance.
00:18:54 – Accessibility Pricing and Financial Coaching
Michelle explains her approach to money coaching, offering accessibility pricing based on clients’ monthly gross income. She shares that money coaching is more than just financial compensation and feeds her in different ways.
00:23:01 – Impact of Childhood Financial Background
Michelle reflects on the impact of her parents’ divorce on her financial upbringing and how it still affects her today. She emphasizes the need to be kind to oneself and the importance of resilience in facing financial challenges.
00:30:31 – Managing Personal Reactions
Michelle discusses the importance of managing personal reactions during conversations, highlighting the challenge of dealing with individuals who react personally to everything.
00:31:40 – Dave Ramsey and Grumpiness
Michelle shares her experience of being blocked by Dave Ramsey after questioning his grumpiness despite his financial success. She emphasizes the need for managing reactions and interactions in personal finance discussions.
00:33:41 – Activism and Social Justice
Michelle reflects on her activism work, boycotting Arizona and participating in financial protests. She also discusses how her personal finance content integrates social justice by considering the impact of policies on individuals.
00:35:07 – Logic in Personal Finance
Michelle critiques the logic-driven approach in personal finance conversations, highlighting the need for empathy and understanding of diverse experiences. She emphasizes the importance of considering the benefits of social justice initiatives from an individualistic perspective.
00:43:23 – Individualism and Social Justice
Michelle delves into the book “Caliban and the Witch” and discusses the impact of individualism on social justice. She touches on the historical context of oppression and the importance of understanding the interconnectedness of societal issues.
00:46:29 – Oppression and Empathy
The conversation starts with Michelle discussing the toxic effects of oppressing others and the lack of empathy from those who oppress. She highlights the importance of communal society in caring for each other.
00:47:45 – Migrant and Homeless Crisis
Michelle discusses the current migrant crisis coinciding with the unhoused crisis in Denver. She expresses frustration with the state inundating resources and the challenges faced by those trying to facilitate help for these communities.
00:51:36 – Visual Representation and Empathy
The conversation delves into the visual representation of homelessness, with Michelle explaining how people are more vocal and upset when they see themselves in those who are homeless. This visual recognition elicits empathy and fear.
00:55:20 – Prioritizing Rest
Michelle shares her experience of prioritizing rest and the impact of overworking in her previous job. She emphasizes the importance of rest for mental clarity and overall well-being.
01:00:31 – Entrepreneurship and Work-Life Balance
Michelle reflects on the challenges of entrepreneurship, including overworking and becoming one’s own extractive boss. She stresses the need for deliberate lifestyle design when working for oneself.
01:01:46 – Rethinking Work Schedules and Social Media Strategy
Michelle questions the traditional work schedule and the effectiveness of social media for personal business. She emphasizes the importance of experimenting, testing, and reevaluating strategies.
01:02:53 – The True Purpose of Social Media
Michelle shares her perspective on social media, highlighting the importance of genuine connections and meaningful interactions over transactional engagements. She emphasizes the value of in-person meetings and prioritizing relationships.
01:06:26 – Strategic Business Decisions
Michelle stresses the significance of aligning business strategies with personal goals and focusing on activities that truly move the needle. She advocates for intentional decision-making and understanding what works best for individual businesses.
01:10:32 – The Journey to Success
Michelle candidly shares the challenges and perseverance required in building a sustainable business. She emphasizes the longer-than-expected foundational years and the importance of patience and persistence in achieving success.
01:14:14 – Learning and Growth
Michelle reflects on how her diverse experiences, such as being a social worker, have contributed to her current expertise. She emphasizes the value of learning from different areas and how it shapes one’s capabilities in their current endeavors.