Award-winning financial coach, author and speaker Holly Morphew joins the show to discuss her incredible journey from debt to financial freedom. Holly is the author of Simple Wealth: The Practical Guide to Transform Your Relationship with Money and Live in Abundance and today she breaks down her Financial Impact System that has helped to improve the financial situations of so many.
Jonathan and Holly discuss her work in financial literacy, the importance of believing and investing in yourself and why everyone should own a business at some point in their lives.
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Key Takeaways
01:06 – Holly Morphew discusses her unique upbringing and the mindset her family instilled in her around money
06:25 – ‘Discovering’ $67,000 in credit card debt
09:58 – A series of financial awakenings
13:30 – Common financial misconceptions and living in an abundance mindset
20:18 – Holly breaks down her Financial Impact System
22:58 – Creating residual income
26:04 – Defining financial independence and how it differs from retirement
31:00 – One thing listeners can do today to improve their financial wellbeing and one thing to avoid
34:05 – The importance of investing in yourself
37:27 – Why everyone should have a business
46:36 – The last thing Holly changed her mind about and one thing she wishes people knew about her
48:42 – The next big thing for Holly and where to follow and connect with her
Tweetable Quotes
“At the time, I was a member of Rotary International. And so I just went to them with this idea. I said, ‘I have an idea for a service project. What if I go to local high schools and I teach young adults about money before they graduate, and get in the real world, and start making all the mistakes that my friends and I were making.’ And they loved the idea and that’s how it began.” (03:45)
“Ultimately, what I know about myself now is I was always meant to be an entrepreneur. I was always meant to work for myself. And I always wanted to get to that kind of life, but I didn’t really know how to do it.” (10:49)
“I do think that it’s a privilege to tune out what the world is telling us. And anyone can do it; this is free. It’s your choice.” (19:21)
“Building wealth is twenty percent strategy and eighty percent mindset.” (20:51)
“The definition of financial independence is the point when the income that you receive from sources other than a job can pay for your expenses.” (27:28)
“Really, when you think about money, it is just this intangible thing that we are creating more of every day. The government is printing more of it every single day. We’ve got new cryptocurrency coins all the time. When you really start to think about money, it truly is infinite and you can call more of it into your life.” (35:17)
“That feeling of accomplishing the pillars of wealth and then getting really good at defaulting to healthier habits just takes practice. There’s no such thing as perfection when it comes to money. It’s just about doing your best. And every day is an opportunity to practice.” (46:08)
Guest Resources
Holly’s Website – https://www.financialimpact.com/
Holly’s Instagram – https://www.instagram.com/hollymorph/?hl=en
Holly’s Facebook – https://www.facebook.com/FinancialImpactSystem
Holly’s Twitter – https://twitter.com/HollyMorph
Holly’s YouTube – https://www.youtube.com/channel/UCyu44ljnKKXTrAYlEeBUmbg
Holly’s LinkedIn – https://www.linkedin.com/in/hollymorph/
Holly’s Book – https://www.amazon.com/Simple-Wealth-Practical-Transform-Relationship-ebook/dp/B08TYW2JT3
Money Date Guide – https://www.financialimpact.com/money-date-guide/
Mindful Money Resources
For all the free stuff at Mindful Money: https://mindful.money/resources
To buy Jonathan’s first book – Mindful Money: https://www.amazon.com/Mindful-Money-Practices-Financial-Increasing/dp/1608684369
To buy Jonathan’s second book – Mindful Investing: https://www.amazon.com/Mindful-Investing-Outcome-Greater-Well-Being/dp/1608688763
Subscribe to Jonathan’s Weekly Newsletter: https://courses.mindful.money/email-opt-in
Capture the most important benefit of an advisor – behavioral support – without the 1% fee: https://courses.mindful.money/membership
For more complex, one on one financial planning and investing support with Jonathan or a member of Jonathan’s team: https://www.epwealth.com/our-team/berkeley/jonathan-deyoe/
Website: https://mindful.money
Jonathan on LinkedIn: https://www.linkedin.com/in/jonathandeyoe
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