EP 20 – Marissa Elliott – Debt & Understanding Your Relationship with Money

  • 0
  • July 13, 2016
Marissa Elliott

Who is Marissa Elliott?

Marissa is one of the founding partners of Capital Core Financial. She has over 12 years experience as a financial advisor and is the co-host of a radio show called Conversations with Money.

She is passionate about finance and speaks regularly about strategies to support people of all ages in having a brighter financial future.

Why did I bring Marissa onto the show?

I brought Marissa onto the show because debt and money are a regular source of stress for many of us.

I wanted to talk to her about how we can get out of student debts, VISA debts, tackle buying houses and start planning for our future.

With the right mindset and strategies in place, the money we make can empower us, to live the lives we want rather than living in stress.

What will you learn?

    • The one habit Marissa believes in to get your spending back on track. Marissa was kind enough to provide me a sample of the system she uses. Simple yet efficient.                                 
    • How your personal beliefs can be impacting the amount of money you have
    • The importance of having conversations about money with your significant other (this is the #1 reason for divorce after all)
    • How the way you were brought up with money impacts the way you view and interact with money
    • The one product Marissa recommends to all her clients as a way of tax sheltering your money
    • Marissa’s life metaphor she learned in Argentina hiking mountains

The One Habit to Adopt

In the podcast Marissa talked about the importance of tracking all your expenses. The #1 mistake people make is they spend more than what comes in. We have so much access to credit and our impulse to buy the next shiny object can get us into debt.

She recommends to input your expenses into a Google Doc for a whole month to increase your awareness about where your money is going. The spreadsheet is simple but effective based on her experience from her clients.

Budgeting Sheeet

Marissa was kind enough to grant me access to the document if you want access. You can reach out to me through Facebook or to her via email below.

Connect and Learn More About Marissa

Podcast Notes

  • Capital Core financial & creating an advisory business that has conversations that go much deeper than just money @ 4:40
  • Marissa’s upbringing with money @ 7:40
  • Why is debt such a problem in 2016? And something so many people struggle with? @ 11:00
  • What’s your relationship with the amount you’re making versus the amount you’re spending? @12:30
  • Marissa’s one habit to help you understand where your money goes @ 14:00
  • 70% of lottery winners spend their earnings in the first 3 years – Marissa explains why @19:00
  • How do we avoid overspending? Become connected to every dollar you spend @ 19:30
  • Does tracking your spending take too much time? @ 21:00
  • How to remove shame from your relationship with money @ 24:00
  • The more connected you are with your number the better @ 27:15
  • What is your first memory of money? Why that is important @ 30:00
  • The people who have a hate relationship with money are typically the most in debt @ 31:30
  • How to identify the relationship you have with money @ 36:00
  • The stereotypical roles of male and female in relationships and how these affect debt @ 40:00
  • Talking about the things that matter creates space in your relationships @ 42:30
  • The way we do anything is the way we do everything @ 44:15
  • “Be gentle with the mountain and the mountain will be gentle with you.” – Marissa’s metaphor for life  @ 46:00
  • How is Marissa planning for new own retirement? @ 48:30
  • Using tax sheltered vehicles to protect your wealth @ 50:00
  • Learning to climb the mountain (life) without suffering @ 52:45
  • Marissa’s biggest challenge – being present while enjoying the climb @ 53:30

Mentioned in the Podcast

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