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Welcome to the Wealth Witches™ podcast, where financial empowerment meets magic! I'm Katelyn Magnuson, your guide on this enchanted journey to holistic wealth and prosperity. Here, we honor all identities and invoke our inner witches to create a community where everyone feels welcome and inspired. Formerly known as the Confident Money podcast, we've transformed into Wealth Witches™ with Katelyn Magnuson. This change is about embracing the once-taboo topics of money and magic, blending them i ...
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Welcome to the Wealth Witches podcast! In this episode, your host Katelyn Magnuson reintroduces you to a revamped and enchanted journey of financial empowerment. Previously known as the Confident Money podcast, Wealth Witches™ aims to create a more inclusive and holistic approach to financial discussions. You’ll learn about the exciting changes com…
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Are We Heading For A Crash? with Kyle Seagraves
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Is the housing market going to crash like it did in 2008? In today’s episode Kyle and I will discuss the similarities and differences between the 2008 housing market and the current housing market so you can make smart decisions. Historically, home value increases over time, usually around 4% per year. This appreciation is closer to 18-20% over the…
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Buying A Home Strategically with Kyle Seagraves
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Welcome back to another episode with Kyle Seagraves, Certified Mortgage Advisor, Licensed Loan Originator, and full-time home loan educator. In previous episodes we’ve talked about the logistics of buying a home, so in this episode we will go through some strategy tips and common worst-case scenarios. How long you’ll need to stay in a home for the …
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Home Buying Part 4: Budgeting with Kyle Seagraves
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Now that we’ve discussed how to apply and qualify for a mortgage, now we’re going to talk about what all the numbers mean and how you can look at your budget to realistically afford to buy a home. We’ll go into detail about: Debt to income ratio Dream home versus starter home Upfront costs How to choose between a 15 year and 30 year loan term Budge…
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Home Buying Part 3: Timing It Right with Kyle Seagraves
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32:59
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It’s very tempting to house shop online and crunch all the numbers yourself before taking any steps in buying a home, but don’t wait around just because you aren’t sure. Talk to a loan officer first and see where you’re really at. Remember, the pull on your credit will only affect it by a few points. Talk to 3 lenders. Start with a big bank, then a…
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Home Buying Part 2: Home Loan Types with Kyle Seagraves
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Today we’re going to get into the nitty gritty of the different types of home loans available, what credit scores are required to qualify, and we’re going to debunk some myths. Kyle and I will cover: Conventional loans Mortgage insurance and PMI FHA loans VA loans for veterans USDA loans for rural areas Jumbo loans and loan limits Bank statement lo…
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Home Buying Part 1: Credit Scores with Kyle Seagraves
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Welcome back to another mini-season of Confident Money! In the next few episodes I’ll be talking with Kyle Seagraves, Certified Mortgage Advisor, Licensed Loan Originator, and full-time home loan educator. In this episode, we’ll cover: What credit scores are and what they mean The difference between a soft pull and a hard pull Different types of lo…
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Today, we’re going to dive into student loans, the moratorium, and types of debt. Student loans, although they are considered a “responsible” debt, can still seem crippling. Here are some things to consider concerning student loans: If your loans aren’t federal, then the moratorium on interest and collections does not apply. If you refinance or con…
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Following up from last week’s discussion about recession and what it is, I’m back with Brock to talk about some strategies we can use right now to prepare. Millionaires can be made during recessions. Opportunities abound for those who are able to take advantage of them. There’s a few things we recommend: Have 3 months of minimum monthly expenses sa…
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Today we’re going to discuss recession, what it is, and what to do during one. Spending is down, the stock market isn’t performing, inflation is out of control, interest rates are higher than we’ve seen since 1994, and we feel the effects everywhere in the economy and not just in the US. It comes down to how we’re each living our lives financially.…
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Most things in life move in seasons. For me, that includes my business and work/life balance. In this episode, I’ll talk about the seasonality of my business, the way I’m feeling right now, and how my life balance shifts with the seasons. I have built my business so that there’s a busy season, a rest season, and gearing up, and during some months w…
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During this little mini-season I’m talking about topics that have impacted me personally. Today’s topic is a tough one: setting boundaries. If you’re not used to setting boundaries, it may be difficult to do and enforce. You may set one too far one way and have to back it off because it’s not sustainable. It’s okay for boundaries to shift depending…
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Welcome back! I had intended to only take a week off between seasons, but I realized that I had placed too many expectations on myself. That’s what I’m going to talk about in this episode. As businessowners especially we tend to set high intentions for ourselves. There’s a time and place for that, like tax season in my business, but there also need…
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Today I have Emily with me and she’s going to help us talk through some scenarios and possible personal financial blueprints from real life examples. We’re going to look at the goals for each family, prioritize those, and outline some recommendations I have to help move them forward. We’ll talk about some possible plans for: Jason, married, 27, no …
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I came from a family with a lot of limiting beliefs around money. Rich people were considered bad, greedy, and evil. When my deep-seated belief was that I always had enough money, then I always had just enough money. In working through that, I realized that I was energetically unavailable for the abundant overflow of money that I desired. Basically…
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How Side Hustles And Job Hopping Can Help You
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Decades ago, the standard career track looked like staying in the same company, climbing the ladder, for the entirety of your career. That’s not very realistic anymore. For many of us, we get itchy to move on after a few years. That can actually work to your advantage. When you get a new job offer, I believe you should always, always negotiate. You…
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A lot of what I do is making personal finances personal. I don’t agree with financial gurus that sell you their step-by-step programs because they don’t take personal goals and circumstances into account. I’m going to give you several different options for you to try out and use whatever works best for you. Decide your time frame. What feels lighte…
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In this culture of hustle and burnout, it’s easy to forget to have fun, plan time off, and have boundaries. There’s a time for “responsibility” and a time for YOLO. You have your own YOLO, treat yourself things. They look different for everyone, especially considering where you are with your business and financial situation. It may be like when I s…
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More than ever before, it’s important to put a plan in place to make you feel financially secure, even with all the uncertainty all around us right now. Personally, I’m working towards being “work-optional” in the next 15 years. I want to have enough cash-flowing assets that my living expenses are covered, not needing to touch retirement accounts, …
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Investing doesn’t have to be scary, and you don’t need a huge amount of money to get started. Just know that you’re really missing out if you’re only using savings accounts. Even high-yield savings accounts don’t keep up with inflation. Looking at retirement investments like IRAs, 401ks, or 403bs, you’ll have to choose some investment funds. Over a…
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There are many different kinds of debt, like student loans, mortgage, auto loan, credit cards, et cetera. I have a system for prioritizing how and when to pay those off, so get something to write with. First, write down each type of debt, the interest rate, minimum monthly payment, and payoff amount. Once you can see them all, put them in order fro…
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Today we’re talking about what I call the “anti-budget.” If you’ve tried every budget solution under the sun and are still struggling, this episode is for you. The basic Anti-Budget system is like this: Money comes into your account. Prioritize bills that are due. Automate retirement, savings, or debt paydown goals The rest is for you. If you’re pa…
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When it comes down to it, no matter how frugal you are, if you’re not making enough money to cover your expenses, your money isn’t going to work for you the way you need it to. The thing is, you can only cut expenses so far. Bottom line is that you need more income. I do have a few tips for how to make the income-expense gap larger: Every few month…
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It’s not a riddle - I’m serious! As someone who has done the diets and programs and yo-yoing in general with my own health, I have found that there are a lot of similarities between the diet industry and the finance industry. Lots of restriction often leads to binge spending Large, long-term changes don’t happen overnight Resources available play a…
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I’m back for Season 2! This season will cover all things personal finance, including: What the diet industry and personal finance have in common How to YOLO and treat yourself and still reach your goals How to make a savings plan Leveraging debt How to job hop and side hustle Limiting beliefs that may pop up We cover ALL of this in the “Get Your Fi…
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It’s tax season… do you have your finance shit together? Do you have the right designations and deductions in order? The good news is that you have me! We cover ALL of this in the “Get Your Finance Sh*t Together” self-study course at confidentmoneypodcast.com! Join our community at confidentmoneypodcast.com where we’ll share tips and resources, and…
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Today we’re going to talk about bridging the gap between personal and business finances and creating habits and systems that are sustainable across both, because they’re not completely separate things. What is your actual end goal? Hint: it’s different for everyone! Are your offerings aligned with what you’re good at, what you like to do, and what …
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I can see the eyerolls now… quarterly taxes. You shouldn’t be thinking about taxes only during tax season. You may think that paying taxes quarterly would be an even 3-month rotation, but payments are actually due April 15th, June 15th, September 15th, then January 15th of the following year. If your state does income taxes, their dates may be diff…
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This is an information heavy episode, so get ready to take some notes! First, calculating how much your business should make based on your personal financial needs. Start with listing all your personal expenses like rent and utilities, then add 20%. That’s a starting point for the amount of money you need each month. To find your business revenue g…
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Now that you’ve narrowed down what entity type fits best, it’s really common for entrepreneurs wonder about the best way to pay themselves. For sole proprietors, single member LLCs and partnerships, for the most part you can’t pay yourself wrong. You’ll be taxed on all of the profits either way, whether you pay yourself all the profits or leave the…
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Get your notebook - today we’re diving into the different entity types and what they all mean. Some things you need to consider: Are you planning to continue this business, or are you just dipping your toe in? Do you have employees or contractors? How much profit do you expect to make in a year? Do you want to do all the registrations yourself or d…
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We’ve chatted about why you need to really understand your numbers, now it’s time to go deeper with your infrastructure and foundation. Business entity types - should you be a sole proprietor, LLC, or S-Corp? Don’t just go to legalzoom - understand what each of those is and what you actually need. Get registered with the IRS and your state, and pos…
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There are a million tips out there, like: Save your receipts. Contribute to retirement. Be an S-corp! The problem is there's no "why" behind those. If you don't know why you're doing those things, you're going to miss out on a lot of tax deductions. You can go through the motions, but you aren't making money moves that support your life goals. Blan…
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Not treating your business like a business could be costing you tens of thousands of dollars in taxes every year. First, you need to separate your finances. Keep your business account separate from your personal account. Mixing finances is called “piercing the corporate veil,” and that can render your LLC protection essentially useless. Also, if yo…
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Would you take money advice from a crusty old white man using technical jargon? Me neither. Finances are gate-kept and overwhelming, for no good reason. Let's take a step back and investigate our money beliefs. For one, that all debt is bad - it's not. Debt is just a decision to borrow money, for a fee. You don't need to pay your mortgage off to be…
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My company, The Freelance CFO, has been around in various iterations for about 10 years now, but I really went all in full time at the beginning of the pandemic in March of 2020 after being let go unexpectedly from my day job. Because I had a solid financial foundation in my business, I was able to survive and thrive. Cliches aside, I want to chang…
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Have you worked with accountants or lawyers that use language around money that doesn’t make sense to the average person? We’re here to remove the stigma around money conversations for everybody. We’re going to focus on how to stop ignoring your money and burying your head in the sand. Taking control of your finances and how you show up in life wil…
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Here, I will help people just like you increase their understand fo money, finances, and accounting and gain the clarity they need to make bold money moves with confidence. You'll learn how to take control of your finances, drop your shame, and make decisions that move you forward. I'm here to disrupt the narrative of how we interact with our money…
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