← The Amy Porterfield Show
The Amy Porterfield Show
What Smart Women Get Wrong About Money With Tori Dunlap of Her First $100K
00:54:21
Loading summary
Transcript298 lines
- [00:00]
A
Now, we're going to be talking about your revenue in this episode. But before we jump in, I wanted to ask you, do you feel confident, I mean really confident that you know how you'll hit your revenue goal this month? How about next month? How about later in October? The hardest thing about running a six figure business is that revenue comes in from a lot of different channels. Ads, affiliate, social media, live launches, all. All of which have hot months and all of which have slow months. And it's pretty impossible to know when and why these happen. Which makes your monthly intake impossible to predict too. So what if you had one system in your business that you could depend on every month to give you a consistent number? That's what I'm teaching in my free live training called the Revenue Consistency Formula. I'll help you take the channels that already exist in your business and tweak them so that they feed each other, creating consistency and growth that you can anticipate instead of random high and low weeks. If you're eager for revenue that feels more steady and a whole lot less confusing, then save your seat@amiporterfield.com forward slash training. All right, now let's get to today's conversation.
- [01:18]
B
If you want something as a woman, people find that, again, very uncomfortable. Everything changes when women have money.
- [01:24]
A
I think we make the assumption that these successful women, it's just easy for them.
- [01:29]
B
Is this what we're going to do for the next 35, 40 years? I've been told that women are bad with money. Maybe this is how not only I can start to change my life, but I can start to change the women's lives around me. The reason you're stressed is not, oh, money stresses me out. It's because you're not looking at it.
- [01:46]
A
My guest today is a dear friend of mine.
- [01:48]
B
One of them goes, that one over there, she's big money. And it was my guest today. Her name is Amy Porterfield. Amy Porterfield, the ever amazing best selling author of two weeks notice. Ms. A Jamie Porterville.
- [02:01]
A
Tell me if you can relate to this. You're making money, real money. You've built a business that's working, but money still scares you. It could all be taken away tomorrow. One wrong move and poof, it disappears. No matter how much money you make, it just never feels like enough. And everyone else has figured out something about money that you somehow have missed. You've carried this feeling a long time, maybe your whole life. And the most disorienting part, you can't really explain why. Well, Tori Dunlap can. She's the founder of her first 100k, host of the financial feminist podcast, New York Times bestselling author of Financial Feminist and my guest today. She's helped over 5 million women understand something most money experts never talk about. The reason your money feels the way it does and how it likely has nothing to do with the math, but everything to do with the story you've been carrying since childhood. And today she's going to help you find your story. If you're watching on YouTube, hit subscribe. And if you're listening on your favorite podcast app, follow the show. Well, hello Tori, welcome to the show.
- [03:10]
B
Thank you so much for having me. I'm so excited to be here.
- [03:13]
A
We've been talking about this forever.
- [03:14]
B
Long time.
- [03:14]
A
Yes. Finally I get you on the show and I'm gonna ask you all the questions. Cause I wanna get deep into it.
- [03:19]
B
Amazing.
- [03:20]
A
Okay, so the first thing I wan talk to you about is something you've talked about a lot. The ostrich effect.
- [03:25]
B
Yeah.
- [03:25]
A
Burying your head in the sand because it's easier just not to know. Even women making good money do this, Right?
- [03:32]
B
Everybody does this.
- [03:33]
A
Okay, why? Why are we doing this?
- [03:35]
B
Because money is so taboo. It's so easy to just think, well, I'm gonna ignore it and it'll handle itself and I'll figure it out later. Yes. And whether this is not investing because it seems too complicated, oh, I'll figure that out later. Not looking at your debt balances because it's too stressful. Oh, I'll figure it out later. Like this happens repeatedly. And I especially see it in women and it's this moment where it's either, okay, I have to get comfortable being uncomfortable, that feels too scary. So I'm just gonna opt out. But the truth is you can't opt out. You can't opt out of your money because money means options, money means choices. And if you're ignoring your money, especially as a business owner, you have no idea what's going on in your business. How are you going to scale, how are you going to actually make this the business of your dreams? It's not going to work.
- [04:26]
A
So you've got to get your head out of the sand and you have to look at the good, bad and ugly, Right?
- [04:30]
B
Absolutely.
- [04:31]
A
And today we're going to talk about kind of how to look at it. Okay, so we are talking to ambitious women right now. You know, my audience, we're very similar in our audiences in that way. So these are ambitious women who some of them are actually Making really good money. But a lot of ambitious women feel this specific kind of guilt around wanting money. Not just having it, but wanting it. And I don't have that. And you don't have that.
- [04:57]
B
You don't.
- [04:58]
A
But. And maybe at one time I did, actually. Tori, I have to take it back. I just said I don't have it. But sometimes when I do a really big launch and I make millions and millions, I feel guilty. So I do. I guess I do have it.
- [05:10]
B
I do too, sometimes.
- [05:11]
A
Okay, good. So I was a big liar.
- [05:13]
B
No, but like, I both have it and also I don't. And this is the interesting thing though, that I have learned time and time again in my work. I talk about how money affects women differently. And the interesting thing about money is exactly what you just said. We feel guilty when we're not doing enough, or we feel like we have too much debt, or we don't have enough in savings that we're not doing things correctly. We feel guilt and we feel shame. But the unique thing about women is that we also feel that guilt and shame when we're doing really well. Because we're afraid of leaving people behind. We're afraid that we're gonna be unlikable. We're afraid that having money turns us into bad people. And there's this great quote that money doesn't change you. It just shows you who you truly are. And the truth about money is it's neutral. It is not morally good or morally bad. We know plenty of rich people who are bad people. And we know plenty of rich people who are really, really great, generous, community oriented people. And so at the end of the day, I actually need women to have money. Because guess what? When women have money, they are more generous, they are more self aware, they're more community oriented. Everything changes when women have money. And so this is why I need money in the hands of women. Because the world just becomes a better place. And nothing bad happens when women have money. So if you're getting caught up in that narrative of pushing away money or feeling guilty for wanting it, you just want options. You want choices. That's what money buys you. It's not the stack of government issued paper. You're not, you know, Scrooge McDuck in like a pool of money being like, how much can I accumulate? How much can I gatekeep? It's no. How can I actually build a life that feels really good for me? How can I take care of my family? But also how can I make the biggest impact in my business? And my community.
- [06:58]
A
Okay, so this kind of specific kind of shame or guilt.
- [07:01]
B
Yes.
- [07:01]
A
Of wanting more money. Women feel it. I've never actually heard a man ever tell me that I feel guilty wanting more money. So tell me just a little bit more, why are we feeling that guilt?
- [07:15]
B
It's social conditioning. And that's not a fun answer, but it's the true answer. Like, when we look at, even I talk about in my book, the toys that we give stereotypically boys and girls, like, what do we give boys? We give them Legos and trucks and things to build, right? We're telling them even at a young age that they are good at building things. They're good at their own ingenuity. Like, that is the trait that we both foster and encourage boys to have.
- [07:41]
A
I know it's coming. Because what do we give them?
- [07:43]
B
What do we give girls? We give them dolls. We give them easy bake ovens. Like, we give them them bridal veils. Like, I remember at 2 or 3 years old, like, marrying my dad, right? It's like, it's so crazy that we give a child another child to take care of. Right? And there's something beautiful about that. As women, like, we are taught to be nurturers, we're taught to be caring.
- [08:03]
A
Good point.
- [08:04]
B
But then, of course, when we start making our own money, it's not just the feeling internally of, oh, this isn't nurturing, this isn't giving, this isn't community. But also it's reinforced at the societal level. We're told you shouldn't want money, or you ask for a raise at work and oh, you're greedy. Why are you asking for more? And so of course we feel bad because it's conditioning since we are 2, 3, 4 years old. But also, as you become an adult and you start pursuing money, everything about the workplace is not built for you. Everything about business is like, how dare you ask for too much? Or how dare you want attention? Of course we feel guilty. So I think just realizing that and acknowledging that that is the reality is really important.
- [08:47]
A
So, Tori, let me tell you about how I was raised. I was raised with a blue collar dad and a stay at home mom. And my dad worked really hard, but he saved every penny and he held his money tight.
- [09:00]
B
Oh yeah.
- [09:00]
A
The only lesson I learned was put your money in the bank. I remember I have a little bank account statement still and my name is written. And I was 7 years old and I was so proud of going to the bank and putting money in the bank. That was the Lesson I learned yours was a little bit of a different upbringing, Right? Yeah. Okay, talk to me about that.
- [09:18]
B
I definitely had what you had, which was, like, very money conscious parents, because both did not grow up with a lot. My dad especially grew up pretty poor.
- [09:27]
A
Okay.
- [09:27]
B
And so my dad will still. If you go. If I go home, he has all of his receipts saved for the past year.
- [09:33]
A
No way.
- [09:34]
B
He got gas. He went to the grocery store. He went to the hardware store. He has his receipts, like, in our desk.
- [09:39]
A
Yes.
- [09:39]
B
And my mom, I think, just finally updated, like, her Quicken 98. Like, she was still balancing her checkbook. She does it on the 13th and the 21st of every single month, love. So, like, I definitely had that. And I think that's super common for women. If you get taught anything about money, it's save it, save it, and be frugal. Right. Those are the things we hear. The unique things that my parents did was they didn't just tell me to save. They were strategic in teaching me how to invest.
- [10:05]
A
Huge.
- [10:06]
B
Huge.
- [10:06]
A
Okay, so tell me what that looked like, because people that are listening now that have young kids, I would love for them to learn how to do this with their kids.
- [10:14]
B
Well, and I have to tell you something crazy, Amy, about raising children around money. Okay, so all of the money narratives that were taught, right? Even the one of like, I shouldn't want money or money's greedy, all of those narratives are cemented by age seven. What?
- [10:29]
A
So when I said I put age seven on my bank account, literally, I'm
- [10:33]
B
not making that up.
- [10:33]
A
Everything I need to learn about money at that point, meaning from my parents.
- [10:37]
B
Unless you work to change it. The way you grew up around money is probably abs. I'm not even gonna say probably. It's dictating your financial choices right now.
- [10:46]
A
Yes.
- [10:47]
B
In ways that are really interesting once you look back. It might be very similar to the way your parents manage money. Or it might be the exact opposite. It might be like, oh, they blew all their money. So now I'm so hyper vigilant around my money. Yes. But my parents were teaching me how to budget, how to save. I remember having a conversation in high school of like, we're giving you a credit card. You do not put anything on this credit card that you can't afford to pay off. Like, that was a really huge conversation. But when I graduated college and was in my first big girl salary job, my dad sat me down and he was like, okay, we're opening a Roth ira, which is a retirement account that pretty much anybody can open. It's individual, it's tied to you, it's not tied to your employer. And he said, okay, we're going to set up an automatic transfer of a portion of your paycheck to go in every single month. And then he walked me through. Here's what an index fund is. And an index fund is groups of stocks. So rather than trying to cherry pick the hot stock, you can say, okay, I want every single company on the US Stock market so you win every single time and you can help diversify and make sure that you know that risk is lowering. And he set me up at 21, 22 with my Roth IRA. And that financial education was massive. It was a huge privilege. And that's what I hope to do at her first 100k is be the parent in that way or at least pass that education on because it's not taught.
- [12:07]
A
So parents listening now with kids that they can still influence.
- [12:11]
B
Yes.
- [12:11]
A
You're saying talk about investing, talk about
- [12:14]
B
money, talk about investing. But also don't just say what they should be doing. Model it. Because I saw my parents again balancing the checkbook. I saw my parents not really go out to eat all of that much, but we took a family vacation every year and they were very transparent of like, this is why we do this, because travel's really important to us and spending time together is really important to us. So everything's a trade off. We might not be able to go out to eat all the time, but we're saving our money so that we can go to Disneyland or we can go to Europe when I was 13. So that is a huge conversation that you can start having at any age is what is the value of money but also what is the value based spending you're going to do? What are the trade offs you're going to make so that you can spend money over here?
- [13:00]
A
Yes. And am I right to say that at 27 you became a millionaire?
- [13:03]
B
Yeah.
- [13:04]
A
Okay, so anyone listening right now, that's raising kids millionaire at 27. So what your parents did, and it's a lot of who you are as well, but what your parents did was such a gift.
- [13:15]
B
It was such a gift. But I will also say, Amy, this is the fun part about even a positive money story that I had from my parents.
- [13:21]
A
Yeah.
- [13:22]
B
Ended up kind of biting me in the butt a little bit. So got my good corporate job. Yeah, right. Worked my way up, was trying to, you know, get my raises and did all of that. And part of the her first 100k story was that I saved $100,000 at 25. And that was a combination of a bunch of different things. Right. Not only getting out of college debt free, which was a combination of my parents having contributed some money, but me working three jobs on campus and getting a lot of scholarships, but I was also, you know, running a side hustle in addition to my nine to five. So I was diversifying my income. I was automating my savings. Right. I talk about all of this and more and other pieces of content we have. But. But when I was faced with the opportunity to quit my job and go all in on my business, I was calling my parents at 25 asking for their advice and they were like, under no circumstances should you quit your job.
- [14:11]
A
Okay.
- [14:12]
B
Because it felt like too much of a risk.
- [14:14]
A
Yes.
- [14:15]
B
And I'm really thankful that my parents always made like a very stable, smart choice. Like, my dad has stayed at companies for decades and had the 401k and had the health insurance. And I'm very, very thankful, thankful for that. But that is a very different reality than what I was about to, you know, go into. And so they were like, no, you need, you need your health insurance, you need the paycheck coming in every two weeks.
- [14:39]
A
And you trusted your parents and you're close to them. So how did you make a decision that they're like, don't do that?
- [14:45]
B
Yeah. I think it was the reality of I was as well prepped as I could have been. So at 25, I had saved my 100k.
- [14:53]
A
Yes.
- [14:53]
B
I had just been on Good Morning America for the first time.
- [14:56]
A
Wild.
- [14:57]
B
So I had momentum in my business. My business was actively making money. It was not just an idea that was going to take years to get off the ground.
- [15:05]
A
It was still in a 9 to 5 and you had started your business.
- [15:09]
B
And I will say that is my biggest recommendation to any entrepreneur out there, especially one that is really money conscious. If you can test and prove your idea before going all in on it. It allowed me so much flexibility in my business because I wasn't reliant on it for income before it was ready to support me. And so was running my 9 to 5. That was my first investor in my business. And then the business was growing on the side. But to my parents, who had never been entrepreneurs, that felt like a huge deal. That felt like a huge risk. And I now jokingly call them every once in a while. I'm like, aren't you glad I didn't listen to you? But I think all of the other docs are, were in a row. And I got to give credit to my boss at my company. There were other things going on at that company that were not great. But my direct boss, we had a really honest conversation because I was like, I think it might be time for me to leave. It was just. I was realizing I could not run this business while also working this job. It was getting too spicy internally. And he was like, you have momentum, you have money. Like entrepreneur to entrepreneur. I think you go for it, and what's the worst that can happen? And I think I needed that push or I don't know if I would have made it myself.
- [16:19]
A
For sure.
- [16:19]
B
For sure.
- [16:20]
A
So you know how you were saying, research shows that we absorb those stories from our. Those beliefs from our parents of how they raise us with money.
- [16:29]
B
Yeah.
- [16:30]
A
And so in adult, as an adult, it kind of seeps into our financial life. How do you reverse that? If you were raised with parents who spent too much, never taught you how to use money or even like mine, hold on to it so tight.
- [16:43]
B
Yeah.
- [16:43]
A
I remember when I got out of my partnership, Remember I was kind of in a really rocky partnership. And the day that I told him I wanted out, he said, amy, this is going to be bad for you. And I said, why? And he said, because how you are with money. And I said, how am I with money? He says, because you hold onto it so tight. And I don't know if in his head he's like, I'm going to take you for everything or whatever, but that has stayed with me. And so I've had to learn to let go and invest and be more risky. But how does someone listening now that did not have a good upbringing with money? What do they do?
- [17:17]
B
The first thing is to realize that you have been told that money is all about numbers.
- [17:24]
A
Yes.
- [17:24]
B
It's about math. Math. It's not about math.
- [17:28]
A
What is it about?
- [17:28]
B
Psychology. It's about your emotions. It's about what's going on in your brain. It's about what you were taught by your parents or what society teaches you. There's a reason the longest chapter in the first chapter of my book is entirely about the emotions of money. Because I can't teach you to budget, I can't teach you to invest, I can't teach you to start and grow a business if you don't first understand all of the narratives and the way they're impacting you. And we've discussed them, you know, already some of them, which is, yeah, don't pursue money or any decision that's investing in yourself is risky. Right? Women get told that all the time. So you have to do some emotional upheaval and that's not fun, right? But like, this is where you do have to look at your mindset. Maybe going to therapy, having real conversations about money and about the way you were raised and how it's dictating your relationship with money now. And that's not fun work, but it is absolutely necessary work if you do want to be successful. So that's the first thing. The second thing is to understand that again, money has no inherent moral value. And the more you believe that money corrupts or money is again bad or immoral is you're going to always push it away. You're always going to think, oh, that's for other people, that's not for me. Or that's for this kind of person that I never want to become. And the truth is, again, I need you to have money. I need you to have money because I want you to be rich. I love being rich. And I will say that on Mike, it is great because I am never in a situation that doesn't respect me anymore.
- [18:54]
A
Ooh, say that again.
- [18:56]
B
Money allows me the ability to exercise my self worth. Yes, I can go on a date. I'm now with my partner for a while. But when I was dating, you know, if I was on a date where this just wasn't going well, I could throw it on my card. It didn't matter. It was like, cool, I can get out of this situation if I'm in an unsafe apartment, a toxic job. I was in a job where I was sexually harassed. I couldn't leave because I didn't have enough money. And like, that's the reality is when you have money, you have options. You have the ability to start a business or to donate to causes you believe in, or to give people jobs or to travel or to take care of your family or ailing family members. Like, that's why I need women to have money. That's why I wanted, I want every single woman listening to unabashedly pursue wealth. Because that's the reality.
- [19:42]
A
I love that. Unabashedly, what was it?
- [19:46]
B
Pursue wealth.
- [19:46]
A
Pursue wealth. I love that so much. Okay, so you're talking about emotions around money. And one thing that you said is scarcity around money is a lie.
- [19:56]
B
Yeah.
- [19:57]
A
Why is it a lie? And take me through like a woman that's. She's making pretty good money day to day. Her day to day life. She still has that scarcity around money. What is that doing to her and how does she get out of that?
- [20:09]
B
Let's talk about two things. If you're actually making good money because it solves some problems. Absolutely. It solves a lot of problems of, you know, the feeling of, am I going to be able to make do until the next paycheck?
- [20:21]
A
Right.
- [20:21]
B
That fear is probably gone. Or at least hopefully.
- [20:25]
A
Yes.
- [20:25]
B
It's not as present.
- [20:26]
A
Right.
- [20:27]
B
But the problem is when you're making good money, you start ignoring everything. And actually you get caught in a different kind of trap, which is you don't have to actually lock in and engage. You can kind of just fly by the seat of your pants. Because it's like, I don't really have to look at my money because I can afford most things. But I see with people making, you know, 150, 200 plus K, that that trap is actually the reason that they don't feel in control at all.
- [20:56]
A
Why?
- [20:56]
B
Because it's so much more flexible. When you are living paycheck to paycheck, you know where every dollar is going.
- [21:03]
A
Yes.
- [21:03]
B
You have to. To. When you're making good money, you get to be more flexible. And suddenly it's been years and you're like, I don't actually know what's going on.
- [21:12]
A
Yes.
- [21:13]
B
And the thing that transforms people's relationship with money is understanding that if you think money stresses you out, you go, oh, money freaks me out. It stresses me out, so I'm not going to look at it. That's not what's stressing you out. What's actually stressing you out is that you have no idea what's happening.
- [21:30]
A
Yes.
- [21:30]
B
So I liken it to a gas gauge in a car. If I got in a car and I started driving and there was no gas gauge at all, that's a terrifying road trip because I have no idea if I'm gonna break down on the side of the road at 2 in the morning without cell reception in a place I've never been. Right. But if I get in a car and my light comes on and it tells me, oh, you have to get gas soon. Yeah, that's not a great feeling. But at least I know, oh, I can get to the gas station two miles away.
- [21:54]
A
Yeah.
- [21:55]
B
So the reality is, if you're not engaging with your money, especially if you're making good money, the reason you're in stressed is not, oh, money stresses me out. It's because you're not looking at it. You're just raw, dogging life. You're just like. You're out here just like wondering what's going on and having no idea. So you have to engage with it. And that's going to actually give you a lot more feelings of control. On the scarcity side, Scarcity is born from childhood. It's born from that feeling of there's never enough. And as women especially, I think we see. See every other woman's success as a marker that we can't also have it.
- [22:33]
A
Yes.
- [22:34]
B
Right. If Amy, I see you succeed, my brain goes, well, there's no possible way I can have it now because she already got it. Right.
- [22:40]
A
Right.
- [22:41]
B
And again, that's not your fault. That's not an accident. Those are narratives that started when we were a kid of pitting women against each other. And rather than seeing Amy go get it and realize, oh, that's an opportunity, if she can get it, maybe I can do it too. We see it as, oh, it's already gone. It was one opportunity, one seat at the table. One person can make 5, 10, $50 million in their business.
- [23:02]
A
Torian men never feel that way, right?
- [23:04]
B
No. And again, it's down to social conditioning. And I hate to, like, you know, be a minor bird and keep going, but, like, all of this comes down to the way we are conditioned as women. And that's why this work of unpacking all these narratives is so necessary. It's not fun, but it's necessary if you want to be a successful woman in business and also if you want to be a champion for other women. Because the last thing I want is to see something that you got that maybe I secretly, desperately want for myself and go, well, now I can't have it, or even worse, be angry at you or jealous of you, and instead go, oh, interesting. I have a little bit of envy, a little bit of jealousy. Okay? That means that I want it, A, and B, I can have it because someone did it.
- [23:53]
A
Not too long ago, you and I were at a special dinner at Emma Greed's. Right? Such a fun night. And she has a new book that just came out, and so she's been being interviewed a lot lately. And I love this one question she was asked, and I want to know how you would answer it. Okay. She was asked, what money habits do men have that women should adopt more? So what would you say to that?
- [24:14]
B
Okay, before we go any further, I have to say that anything you do as a woman that might model a man.
- [24:23]
A
Yeah.
- [24:23]
B
You will get feedback about. So sad.
- [24:27]
A
It is me so mad.
- [24:28]
B
But I have to be honest, okay? That is the reality of it. Fair. I show up Every day. And I'm like, I want to be rich. Like, I want women to want to be rich. And that makes people uncomfortable.
- [24:39]
A
You get some crazy comments that you say, I'm rich or I want money or anything. And men and women and women.
- [24:48]
B
The women are the ones where I'm
- [24:49]
A
like, makes me sad.
- [24:50]
B
It makes me sad, too. So I am never out here being like, I can boy boss my way up the corporate ladder and act like a man I like. Because you will always get pushback. Absolutely. The social conditioning that men have is they are so much more comfortable taking calculated risks. Yes.
- [25:11]
A
Okay.
- [25:12]
B
Women are not. Because, again, we've been told there's only one seat at the table. If you are too loud or you want too much, you will get knocked down a peg. And unfortunately, it's kind of true. Like, we live in a society and we live in a culture where if you want something as a woman, people find that, again, very uncomfortable. But the thing that you can do as a woman is say, I want to do X thing. Whether that is starting a business or going for that raise at work or just having an open conversation with my partner about money. And what your brain and body will do is it'll go, fire, fire, fire. Like, there's a bear behind you and the bear's about to eat you. Like, your body does not know the difference between. Truly, you're about to get eaten by a bear and you're about to ask somebody on a date. Like, the feelings in your body are the same. The sweaty palms and the stomach in knots. It's the same feeling. But the way you get comfortable with risks, especially ones that feel bigger, quitting your job, asking somebody to marry you, or all of these things that feel really big in your life, you can start really, really small. So. So I'm visiting Nashville. I'm at a hotel. My favorite little, like, scary little risk that I asked for it every time I check into a hotel as I go. Do you have any complimentary upgrades?
- [26:35]
A
I have never.
- [26:36]
B
Never. Really? No. That's my favorite question. Because here's the deal. They're often going to tell me no. They told me no at this other hotel that I'm just at. And that's fine. 30% of the time, I probably get a no. Okay, 70% of the time. Wait, I get a yes or I get a let me look into that for you. And it is so helpful for training my brain and body of no matter what the outcome is, whether they say yes or no, you're still going to be safe the bear is not coming to get you. And it shows. It builds, like true body resiliency of no matter what happens, I can figure it out and I'm going to be okay. Okay.
- [27:17]
A
Tori, I love this and it reminds me of something I just saw on TikTok.
- [27:20]
B
Okay.
- [27:21]
A
I like to say, like, I saw it in the New York Times, Truly.
- [27:23]
B
I read a research paper and by that I watched a couple TikToks.
- [27:26]
A
Exactly. And this girl and her girlfriend, like, they're two really good friends. They decided that every Friday they're going to call it Eff it Friday.
- [27:33]
B
Oh, love it.
- [27:34]
A
And they do one thing that scares them. Every Friday they apply for a job they probably will never get. They make an ask like, do you have any complimentary upgrades? Never even thought of that. Or they'll go to lunch alone or whatever. But they'll do something that freaks them out. I love this that you said that.
- [27:52]
B
I truly think it's like the biggest reason I'm successful, Truly, is just building the muscle of resilience. And you have to be in those, like, more safe situations.
- [28:05]
A
Yes.
- [28:06]
B
And then realize, oh yeah, I survived and everything's going to be okay. So that when you are in those higher stakes scenarios, you're going to have the same bodily response months. Like, I still get sweaty when I ask for more money. That's always going to happen. But my body and brain know, okay, you can get a no and your life's not going to be over.
- [28:23]
A
You'll be fine.
- [28:24]
B
Yeah.
- [28:24]
A
Yes. Okay. So. Okay, I have to interrupt just for a second. You know that free training that I mentioned earlier? Well, if you're a female founder making 150k or more and any of the following. Sound familiar? I created this training for you. Like exactly for you. Okay, so first, if you have a great month but then can't figure out how to repeat it, this training's for you. Or you feel incredibly capable of earning and operating at a higher level, but your business feels stuck at this intermediate level. Get on the training. And third, as much as you work, you're still the bottleneck because in order for the business to grow as it exists today, it requires you to show up more, which is physically impossible. If any of these apply to you, then the revenue consistency formula is designed to fix it. I'm going to help you pinpoint what's really driving your results so you can recalibrate your business to start driving those results on its own instead of requiring you for every dollar, every lead and every decision. So go to amyporterfield.com forward/training right now. And save your seat. Deal. Okay, let's get back to the show. Being riskier is something that women really stepping into little by little.
- [29:40]
B
Yeah.
- [29:41]
A
Could really help us immensely when it
- [29:43]
B
comes to money and just calculated risk. Like, I think even the word risk means I'm betting the house at the. At the pony. You know, betting the house at the ponies. How old am I? No, but, like, going to the casino and putting it all on black. Like, that's what we think risk is. Is I'm throwing away my entire life, and I'm. Yeah. Betting my house. Yes. And my savings doesn't need to be. No, risk is just the moment where it feels a little scary. And speaking of Emma Greed, I'm listening to her book right now, and one of the things she talks about, which I think is so wise, is if you don't get that little sweaty feeling, then you probably haven't pushed yourself enough. Yes, I agree. If you feel comfortable, it probably means you're not growing. And anybody listening to this show, you don't want to be comfortable. You want to grow. So you're gonna have to get comfortable with the sweaty palms and the nervous energy, because that is pushing you to where you want to be.
- [30:33]
A
I think we make the assumption that these successful women we watch, they do these crazy things, and it's just. Just easy for them.
- [30:40]
B
Or that you and I have something that somebody listening doesn't. Absolutely. Which is what I hear all the time and, like, certain privileges maybe. Absolutely. But I don't have a DNA trait.
- [30:52]
A
Yeah.
- [30:52]
B
Or Amy doesn't have a DNA trait that somebody listening doesn't have.
- [30:55]
A
No.
- [30:55]
B
We just got really good at being scared.
- [30:57]
A
Absolutely. I always say the first five years of my business, I was uncomfortable every single day. But then I realized, Tori, you know, I've been in this game a long time. I just launched something new, my coaching program, and I thought, oh, get uncomfortable, girl, if you want to grow it to what you grew the last thing to. I grew my digital course business being uncomfortable all the time, doing stuff that freaked me out.
- [31:18]
B
And I've told you this off mic, but folks like you and Jenna were the reason that I'm sitting here today. Like, I watched all of you build a business and went, I would love to do something similar. And I've seen the clips, like, you're so cute in your kitchen. Like, trying to figure out, like, how to.
- [31:36]
A
You know, it's telling my husband, don't put the camera below my boobs, because I didn't want anyone to see my body. Yes, yes, yes, yes.
- [31:42]
B
And like, that is the reality is if you are somebody who has dreams and has goals and has ambition, there are certain things you're gonna have to start doing that feel really uncomfortable.
- [31:53]
A
It's so true. So true. Okay, so you mentioned earlier about money's not really about money.
- [32:00]
B
Yeah.
- [32:00]
A
I love this. Okay. You said it's about options and choices and freedom. So what's the difference between a woman making money and a woman building for freedom?
- [32:10]
B
That's a great question, Amy.
- [32:11]
A
What does that look like?
- [32:13]
B
I think a woman making money might have a comfortable life. Like, I hear that a lot. And I actually. It was so interesting. You're gonna get kick out of this. About six months ago, maybe a year ago, I posted on my Instagram, I said, how much money would you need to be making every year in order to feel rich?
- [32:32]
A
Oh, I'm so curious.
- [32:33]
B
That's the only thing I said, okay, like, what is your yearly salary in order to feel rich? And the comments were so interesting. So first of all, we got full gamut of response.
- [32:42]
A
Okay.
- [32:43]
B
Some people were like, I need 50k and that's it. And first of all, I wanted to ask them, where do you live?
- [32:48]
A
Yes, exactly. You're not natural.
- [32:49]
B
You live in Oklahoma. Like, where do you live? And some people were like, I need five million. Like, I need five million. Nothing less. But the really interesting thing to me was almost every woman in these comments went, well, to be rich, I would need this number. But to be comfortable, I could have this number that was lower.
- [33:06]
A
Oh.
- [33:08]
B
And I was like, interesting. So again, tells me back to the narratives of we're told as women to couch to. Like, I don't want too much. Don't look at me. I'm just asking for just whatever would make you comfortable. Right. Because there's scared to say I want to be rich. And they're following me. Right? So even the people who are out here seeing me go all the time, like, I love being rich. I want women to be rich. I want the options. It still is uncomfortable for them. So I think a woman who's making good money is comfortable.
- [33:37]
A
Light your soul on fire.
- [33:39]
B
And I think that is the difference. Somebody who is comfortable, who has enough money, you're probably playing it safe. And maybe that's okay. Maybe you're good with that.
- [33:49]
A
That.
- [33:49]
B
But again, I think anybody listening to this show is not interested in a safe, comfortable life.
- [33:54]
A
So if they take anything away from this episode, get uncomfortable in everything, you know, I meant to Ask this earlier, something you said made me think about it. A lot of women that come into my brand new coaching program, Calibre, we get on a call with them and we ask them, how much money did you make last year? And so all the women make 150k or more. But the second question, Tori, they don't know the answer to and I don't understand why and I need your expertise. The second question is, what was your profit margin? And they don't know. And what makes me really sad is they feel bad. They don't know, like I would ever judge them. And so I kind of asked this question, like, why does that happen? But I remember the days I didn't know my profit margin. In the early years. I didn't know it because I didn't want to look. I was too scared. Just like the.
- [34:41]
B
That's exactly what's happening, Right?
- [34:42]
A
Okay, so that's it.
- [34:43]
B
That's what's happening is they're too scared to get real because if they know, they're gonna have to do something about it.
- [34:51]
A
Yes.
- [34:52]
B
And I see this in personal finances as well. If I know how much debt I'm actually in, I'm forced to do something about it.
- [34:58]
A
And what if I don't even know
- [34:59]
B
what to do Exactly. So it's just easier to ignore it. I'll tell you off mic who it is after. Okay. I have a friend of mine who we all know their name, they're a big celebrity, they have a podcast, all of this. And I befriended them a couple years ago, was on their show, it was the first time they were talking about money publicly. And we reconnected, I think about a year ago and they were like, I have to tell you, I was so blind to what was happening in my business because I was told, oh, you're the creative person, you're not good at money. Somebody else can handle that. And what they realized is they were like, I am not engaging with money and I am not actually seeing this as a learnable skill that I need to know in order to run this business successfully. And they single handedly turned their business around because they started engaging with it. And they're like, prior to talking to you, I was so blind, I had no idea what was going on. Which was one, very validating to hear for me. But two makes me realize how many like creative people, and I'm putting that in quotes, get into business, right?
- [36:00]
A
Yes.
- [36:00]
B
And they go, well, I don't know anything about money, so I'll hire a CFO or whatever. The equivalent is I'll hire somebody. I'll hire. My accountant will handle it. My business manager will handle it. The truth is, if again, you want to be successful as a business owner, this is a non negotiable.
- [36:16]
A
Non negotiable. I agree.
- [36:18]
B
I don't care. I don't care what business. I don't care if you run the most creative business on the planet. You can't do the creative work you want to do unless your business is making money.
- [36:25]
A
Yes.
- [36:26]
B
So you have to know what's going on now. You don't have to know everything. I'm a financial expert. There are plenty of financial questions that I don't know the answer to. But what I always say is, give me a second, I'll go figure it out and I'll get back to you. Like, you have to engage with what's going on in your business and you have to know your numbers. If you don't know your numbers, how are you going to scale? How are you going to feed yourself, feed your team? There's no possible way that you can do that if you have no idea what's going on in your business. Business.
- [36:57]
A
Yes. Amen to that. So if you don't know your profit margin, you're just going to figure it out. It's actually an easy thing to figure out. But I will say this. I think we need to stop saying, I'm not good with numbers, I'm not good with math, I'm not good with money. I'm guilty of that. I'm great with money. I'm not good. Well, I just was going to say it, but this is what I say. I'm going to take it back. Cancel, cancel. But oftentimes I'll tell my CEO who's so good with the numbers, I'll say, I don't understand it. I'm not good with numbers. And then I continue not to be good with numbers and she has to explain it to me like a child. What if I just stop saying that?
- [37:32]
B
That's. That's the freedom of it.
- [37:33]
A
Yeah. Is I give myself that identity.
- [37:36]
B
Yes. So many of the narratives are given to us and are ingrained in us at a societal level, but then we reconfirm them. So again, I've heard money makes people bad. Rich people are terrible. We've seen gritty billionaires. I don't want that.
- [37:51]
A
Yes.
- [37:51]
B
And so you reconfirm it for yourself. Oh, money makes people bad. So I don't want it. Same thing with this. I've been told that women are Bad with money. Women are bad at math, so therefore. Oh, yeah, I'm bad at it too.
- [38:03]
A
Yeah.
- [38:04]
B
Just say, I'm learning.
- [38:05]
A
I'm learning. I'm getting better.
- [38:07]
B
It is a learnable skill. Like, I could tell you I'm bad at speaking Italian. Of course I am. I haven't learned. I haven't actually, like, sat down and, like, tried to. I. I'm bad at playing the tuba. No one. I've never tried to play the tuba, so of course I'm going to be bad at it.
- [38:20]
A
Yes.
- [38:20]
B
It's. I'm learning just like an instrument, a new language. I am learning. It's the same thing with money. It's a teachable, learnable skill.
- [38:27]
A
Yes. And I hope you heard that. It's a teachable, learnable skill. Okay, I've heard you say something that's very bold and so very true.
- [38:36]
B
Oh, no.
- [38:37]
A
Women that avoid being wealthy, like, like you said, I'm just comfortable.
- [38:44]
B
Yeah. If.
- [38:45]
A
If you avoid it and you stay away from the money, you're actually more controllable. Yeah. Damn that word. So what, what do you mean by that? Controllable?
- [38:56]
B
Perfect example was that first job. So I graduated college, I wasn't make. I was making 55, 000 a year.
- [39:02]
A
Did you think it was a lot? I remember when I made 60k and I thought I was rich.
- [39:06]
B
Oh. And I. Because, you know, I majored in marketing and theater and a lot of the job offers. This was 2016, so, like, you know, the economy was doing okay. It wasn't, you know, 2008, but I was getting some job offers for like $32,000 a year. And so I remember thinking, oh, my gosh, 55k.
- [39:22]
A
Yes.
- [39:23]
B
More money than I've ever seen. And, you know, little did I know that, of course, you know, I'm making as much money as a college degree cost every year, but, like $55,000 a year. So much money. And I thought this was my dream job. Like, I got in and it was like open bar and I was traveling
- [39:41]
A
a lot for work.
- [39:41]
B
It was like a very sexy job. And like, when you're 22, you're like, ooh, great. It looks good on a resume. And I can kind of maybe brag to my friends a little bit, and it looks good on social media. And then I realized truly how toxic this workplace was. And I think the word toxic gets thrown around a lot about workplaces, but this was like, like men in leadership who. There was like, very little women. And I was getting. Yeah. Sexually harassed. I had friends who were getting not only sexually harassed, but sexually assaulted at work.
- [40:13]
A
Oh, my gosh.
- [40:14]
B
And there was just this culture of we're drinking all the time and we only spend time with each other. And it honestly just kind of felt culty. Like, it was just really intense. And I had this moment that's gonna make me a little teary. I had this moment at, like, 22, 23, where I was like, oh, I thought this was everything I wanted, and now I'm here, and I felt. I felt like that had, like, sucked all of the, like, optimism out of me. You know when you're, like, gung ho and you're young and you're like, oh, I'm gonna climb the corporate ladder and it's gonna be great, and I'm. I can work really hard, and. And I felt just like a balloon that had been deflated.
- [40:51]
A
Yeah.
- [40:52]
B
And I remember asking myself, is this what we're going to do for the next 35, 40 years? And even at 23, I was like, this sounds awful, right? Tolerating inappropriate, abusive behavior. Like, straight, truly abusive behavior. Am I going to do that? And unfortunately, that's the reality for so many women. We get messages every day from women who tell us, I'm in an abusive marriage, my husband is actively abusing me, and I don't have enough money to leave. It makes you cry, Amy. I'm sorry. It's that feeling of feeling not only stuck, but maybe even unsafe.
- [41:36]
A
Yes.
- [41:36]
B
And that feeling is the worst feeling in the entire world. And it does not not only move women forward, but it is the feeling that, again, can completely take. Take the soul out of you.
- [41:54]
A
Yes.
- [41:54]
B
And at the end of the day, when we look at money, does it solve every problem? No, but it solves most problems.
- [42:04]
A
Yeah, it's pretty magical.
- [42:06]
B
It gives you that flexibility. And I remember sitting there and I was making, again, decent money for someone who's just out of college, saving a little bit of my money, doing everything financially correct. And I was like, I still don't. I don't have enough money to leave. I can't just, like, go off and leave. I don't have another job. And it was that moment mixed with, like, the political climate in 2016, 2017, where I realized, oh, maybe this is how not only I can start to change my life, but I can start to change the women's lives around me.
- [42:31]
A
That was your moment.
- [42:32]
B
That was my moment of realizing this financial education that I have that I'm continuing to build, that all my friends are coming to for financial advice and guidance. Maybe this is the impact I can make. And since then, we've helped 5, now 6 million women across the world be better with money. But it's not just about personal finance. It's about the ability to, again, exercise your self worth, to be able to put yourself in scenarios and situations that don't just feel safe and comfortable, but feel very energetically emotionally aligned. And that's the feeling I want for every single woman on this planet, is that she has enough money to make the choices she wants to make. Make.
- [43:09]
A
Okay, so amen to that. Absolutely. And you kind of just brought me right into my other question, which was, if a woman's listening right now and she just doesn't feel like she's good with money.
- [43:21]
B
Yeah.
- [43:22]
A
And she doesn't feel like she's making enough and she just doesn't know what to do.
- [43:28]
B
Yeah.
- [43:29]
A
What are some of the first things that you tell every woman? Do this.
- [43:33]
B
Yep. First thing is you need to start watching and being aware of what goes on when you interact with money. So it's as simple as, okay, I'm at the grocery store and I'm looking at eggs and they're so expensive. Or I'm, you know, gas right now. I live in Seattle. It's like 560 a gallon. Like, it's so expensive.
- [43:52]
A
So expensive.
- [43:53]
B
And you're gonna have this moment where something's gonna happen in your brain and body around money.
- [43:57]
A
Right.
- [43:57]
B
Maybe it's the scarcity, maybe it's, oh, I don't know how much longer we're going to be able to afford this. Is that actually your reality? Is that actually your reality? Is that actually what's going on? Or. I had a bad day at work. My boss made me feel like crap today, so I'm going to go spend money. Don't beat yourself up. Don't get mad at yourself. Just watch what's happening. You see somebody on social media, maybe it's Amy, maybe it's myself. Oh, she had a really good launch. What happens in your brain and body? Do you go, oh, yes, I'm a little jealous, but maybe that's possible for me. Or do you go, that's so much money. I could never dream of having that much money. Or like, ew, gross, right?
- [44:33]
A
Yes.
- [44:34]
B
So just start watching and being mindfully aware of what goes on in your brain and then try to stop those feelings and analyze. Is that something that I want to feel? Is that some sort of thought? I want to engage with that feeling of, oh, I'm just gonna spend money Cause I have a bad day. Does that actually make your life better? Probably not. And so then we can start rewiring our brain and starting to change the behavior that happens. The second thing you need to do is you need to know your numbers. We were talking about this before, but nothing can change unless you know what's going on. You can't make any changes to your life, to your money until you actually have a lay of the land. So before we can make a plan, before we can make a budget, before we can start investing, we have to know what's going on in our money. The final thing is that the most successful people with money build systems. It's no different than how you run a business. The most successful people in business aren't working harder. They're working smarter. They're building smart systems to be able to convert their customers, to be able to re engage with them, to be able to bring them down the funnel. Right. It's the same thing with your money. I am at the point. I'm a financial expert, I'm a multimillionaire. I believe barely look at my money. And that's not because I've ostriched. It's because all of my money works behind the scenes for me. I automate my savings, I automate my investments. Everything is working in a system that took me years to build but that I don't have to worry about anymore. So the irony is that once you pull yourself out of the sand, you start re engaging with your money, you're actually going to go back to a similar state where like, you don't have to worry about it anymore. But because you've done all your homework, because you've created a really smart formula to be able to manage your money, Such great tips.
- [46:23]
A
Tori, this is one of my most favorite interviews. It's so fun. And you know, you're the first woman I've interviewed in person here.
- [46:30]
B
This is so fun.
- [46:31]
A
It's really fun because I'm like, I'm with you in every minute of this conversation. So I have loved it. Where can people learn more about you? Where do they go?
- [46:39]
B
First of all, Amy, thank you for your work. Thank you for being such a mentor to me and so many women. It's just my favorite thing to get to talk to you. Her first 100k.com is where you can find out more about me. If you go to herfirst100k.com quiz, fill out a couple questions for us. They're not pass fail. We're just trying to get A little bit of information about where you're at. We'll send you a free personalized money plan to your inbox. So that's a great place to get started. And then Financial Feminist is the name of our podcast. And book.
- [47:06]
A
And book. Well, thank you so very much, my friend.
- [47:08]
B
Thank you.
- [47:10]
A
There was a lot in this conversation, but here's what I want you to hold on to. The anxiety you feel around money is not a personal failure. It doesn't mean you're doing anything wrong, and it doesn't mean you're not cut out for this. There's a story behind it, and that story has been shaping your decisions for longer than you've actually known. What Tori gave us today is language for things that many of us have been carrying quietly. The ostrich effect. The guilt around wanting more. The difference between making money and building real freedom. And when that clicks, everything changes. How you price, how you sell, how you show up. If this episode resonated, share it with someone who you know needs to hear it. And make sure you subscribe to the show so you do not miss what's coming next. I'll see you back here soon. Rapid fire. Can we talk credit card points?
- [48:03]
B
Yeah, let's do it.
- [48:04]
A
I don't know a lot about them. I don't even know what to ask. But if I just.
- [48:09]
B
Okay.
- [48:09]
A
I have Chase Sapphire.
- [48:11]
B
Yeah. Which one do you know reserve or prefer is a metal card. Okay, great.
- [48:14]
A
Okay.
- [48:14]
B
You have a great first credit card. Okay.
- [48:16]
A
Okay.
- [48:17]
B
So Shameless Plug. Before we get going, any of the cards I'll recommend, they're on my website. If you go to first100-k.com tools we have them all there.
- [48:23]
A
Good.
- [48:24]
B
So very basic. Let's talk first for people who, like, just want some benefits.
- [48:30]
A
Yes.
- [48:30]
B
If you're somebody who maybe has a moderate credit score, you're at like the 600-00 or maybe like low 700s. You're maybe just getting started with this whole thing. You want just like an everyday cashback card.
- [48:42]
A
Okay.
- [48:43]
B
The one I have is a quicksilver card by Capital One. It's like easy. It gives you one and a half percent cash back on everything. So if you go out to eat, if you go on a trip, if you spend for your business, it's just like everything is one and a half percent cash back. So it like takes the guesswork out. So that's a great everyday card. As you start building your credit and as you start building your spending. If you are a business owner, spending a good chunk of money on your Business. This is where things can get really, really fun. Okay, so you and I both have the Chase Sapphire reserve card. This is not only a metal card, which is thrilling every time you put it down, like, oh, it's just like, makes a little clink sound and you feel very fancy. But it has a higher annual fee, and an annual fee scares a lot of people because you'll see 507, 800 annual fee, and you're like, oh, my gosh, it cost me to use this card.
- [49:31]
A
Right.
- [49:31]
B
But the thing is, is you get a lot of benefits with cards with an annual fee like this. So you'll see, like, the Amex Platinum card has a similar annual fee, but the Chase Sapphire Reserve, I have to remember, like, all of the things.
- [49:43]
A
So many. Okay, so is it Apple? Apple, Apple TV?
- [49:47]
B
I got Apple TV.
- [49:48]
A
Peloton.
- [49:49]
B
Yes, Peloton. You can get, you know, TSA PreCheck or clear on one or both of
- [49:54]
A
these doordash every month.
- [49:56]
B
Doordash every month. Chase Sapphire Reserve, I think also still does. It's either 250 or 300 travel credit. 300?
- [50:03]
A
Yeah.
- [50:03]
B
So the travel doesn't have to be, I'm getting on a plane. It can be an Uber. It can be, I think it's sometimes even like parking. So it really does pay for itself. My favorite, especially if you're traveling even just a little bit for either work or personal, is the lounge access. Like, I still remember the first time I stepped foot in a lounge and I'm like, people live like this. Like, I could not believe it. I was buying my 25 Caesar salad and my 14 water bottle. Yes. And it's like, you can get free food, you can get free drinks. It is such a nice way to travel, even if it's not something that's happening a lot for you. Like, your vacation starts at the airport. Your vacation doesn't start when you land. So the other benefit that I really love from all of these is you're accumulating points. And sometimes it is 1 point to $1, but usually it's like 3 points to every $1. So a lot of people see that I might have, you know, half a million Chase points, and they're like, you spent $500,000 on the card? No. 1. I got a sign up bonus. So if you sign up for a card and they change all the time. So it might be you have to spend $4,000 in the first three months. Most of us can do that, especially if we're thinking strategically about like, oh, I need a new couch or I need a new laptop. I'm going to wait until I sign up for this card and then put it all in that at that same time or even I'm going out to eat. I'll pay for everybody and they can Venmo me later. Like, there's strategic ways to do that. But you'll see 50, 60, $80,000 points bonuses. So you spend $4,000, you get 80,000 points.
- [51:34]
A
Whoa. Yeah, that's that.
- [51:36]
B
That 80,000 points is enough to get you and a guest pretty much round trip anywhere in the United States and maybe, maybe even places like Europe or Asia. So this is where things start getting fun. I can go on and on about this for like a half hour. We have so many resources in both our content, but also we've done previous episodes on my podcast Financial Feminist about this.
- [51:58]
A
I'm going to link to some of those because I love this topic. Here's my big question. You know how you said that one card gives you cash back like 1 1/2? So if are you, should you be saying, oh, my credit card just gave me 500 and you put that 500 toward your credit card debt?
- [52:12]
B
That's what I do is I just put it toward my balance. So I don't have credit card debt. Right. Because I'm paying it off every month. But it almost, it's like a credit. Like I just got $500 free. Right. So if I get. It's usually not 500, but if I'm using that one and a half percent cash back card and I have $20 that I've earned just in my spending. Cool. That that pays for my spending for next month.
- [52:32]
A
Okay, great. And then the points, you're saying use those for travel.
- [52:37]
B
I absolutely believe you have to use them for travel. Okay. A lot of people will redeem them for like gift cards or again for statement credit. This is where we don't want to use them for statement credit.
- [52:48]
A
That's what I wondered.
- [52:48]
B
Because they're worth like 10 to 20 times more if you use them for travel. But my, my big hint or my big tip here is that so many people see, you know, okay, I have X amount of Chase points or Amex points, and they go to like the Amex portal and they book their flight through there. Absolutely not. Don't do that.
- [53:07]
A
Absolutely done that.
- [53:08]
B
So what you want to do, let's say you want to go to, I don't know, Paris.
- [53:12]
A
Okay.
- [53:13]
B
What you're going to do is you're going to say, okay, I'm going to go try to find a flight to Paris and I'm going to see how much it will be on miles. So I'm gonna go to Air France, for example, and oh, I can get me and a partner to Paris for 140, 000 points in business class. Okay, so it's 140. 140. So we're at 280. You're going to then take 280, 000 points that you have.
- [53:37]
A
Okay.
- [53:37]
B
You're going to transfer them to Air France and then you're going to book through Air France. Does that make sense?
- [53:43]
A
It does, but why?
- [53:45]
B
Because if you try to book it through the Chaser Amex portal, it's going to cost you like three times the amount of points.
- [53:52]
A
Oh my gosh. I've been doing that wrong.
- [53:55]
B
Yep. Especially with flights. But for hotels, you might get some perks or benefits through Chase or Amex that you wouldn't get somewhere else. Okay, so me and my partner were going to Hawaii for vacation. I'm staying at a really nice resort that is like a thousand dollars a night. I don't want to, I don't want to pay that much, but I can use my credit card points and redeem them inside the Chase portal for that free vacation. Okay, so this is the one time where you should and can use it inside. But I will say if you're staying at like a Hyatt or a Hilton or a Marriott or something that's like a bigger hotel chain that maybe isn't like the super nice hotels but is like the decent four star hotels, transfer it over.
- [54:34]
A
Okay.
- [54:35]
B
Transfer your points over to Hilton, transfer them over to Marriott and book, book from there.
- [54:39]
A
That. You just saved me a lot of points.
- [54:41]
B
I can sit down with you and go through the whole thing. But we're actually, I don't know when this is coming out, but we're doing like a free travel challenge with a friend of mine who has taken. She's been to I think 100 countries and she's been to Japan, Paris and Greece for $6.
- [54:58]
A
Okay, that's huge.
- [55:00]
B
We're hosting a whole travel channel together.
- [55:02]
A
Okay, I'll make sure I linked all your media social stuff because there's some people that will want to check that out.
- [55:06]
B
And it's not as complicated as people think. Like that's the thing again, back to anything money. If you spend like 20, 30 minutes just teaching yourself how this works, the world's your oyster. It's incredible.
- [55:16]
A
Well, I love it. All right, get those credit card points.
- [55:19]
B
Thank you so much.