So Money With Farnoosh Torabi

Imagine selling two multi-million dollar companies, becoming an angel investor and then losing it ALL. That's exactly what happened to serial entrepreneur and our So Money guest today, Mike Michalowicz. Determined to figure out how to grow a healthy and strong company he started all over again which led to the "Profit First Formula," a way for businesses to ensure profitability. Now, Mike is running his third multi-million dollar venture. He's a former small business columnist for The Wall Street Journal and author of the new book, Profit First: Transform Your Business from a Cash Eating Monster to a Money-Making Machine.In our conversation we discuss the WRONG way many businesses crunch their numbers. And Mike's simple yet profound switch that can help you generate money. Hitting financial rock bottom, having to confess it to his family..and the unforgettable move his then 9-year-old daughter made that inspired Mike to turn his finances and life around.For more information visit www.somoneypodcast.com. 

How do I switch departments at work without making it awkward with my boss? I'll be taking on student loans later this year as I go back to school for my Masters degree what can I do in the meantime to prepare? Do you think a Roth 401K is better than a traditional 401k?For more information visit www.somoneypodcast.com.

What happens when you have no savings and you suddenly incur a huge expense like a medical bill or car repair. What happens if you have a job in retail and your weekly paycheck fluctuates while your monthly bills remain steady. The topic today is financial fragility and to explore I’ve invited Rachel Schneider, the co-author of the new book, The Financial Diaries: How American Families Cope in a World of Uncertainty. In her book she and her co-author take a deep dive into how 235 low and middle-income families in the U.S. spend, earn and save over the course of a year. How do they deal with inconsistent paychecks, emergency costs and other financial ups and downs?Some more about Rachel: She's the Senior Vice President at Center for Financial Services Innovation or CFSI. She's an expert on financial health and how an innovative financial services marketplace can improve the live for Americans. She is also the co-Principal Investigator on the U.S. Financial Diaries research study that is the basis of her new bo

How much trash do you think you toss each day? How many plastic items do you own? Check your fridge and cupboards. My guess is we amass more waste than we really realize. Today's guest is here to inspire us to make small changes to live a "Zero Waste" lifestyle. Her name is Lauren Singer and she apparently only produced enough waste in the last 4 years to fit a 16 oz. mason jar. Unbelievable! Her lifestyle has caught the attention of The New York Times, Vogue and many other outlets. Lauren is the creator of the blog Trash is for Tossers and founder of the organic cleaning product company, The Simply Co.She graduated from NYU with a degree in Environmental Studies and prior to starting her own company, she was the Sustainability Manager at the NYC Department of Environmental Protection.In our conversation we discuss...how and why she decided to change her habits and live a Zero Waste lifestyle. What does that look like? She takes us through a typical day. How much has she saved, as a result of her new habits a

Why are people discouraging me from paying off my mortgage if it will be financially liberating for me? I just got laid off... do I take unemployment or work part-time? Should I open a 0% APR interest rate credit card and transfer my student loan balance to that to avoid interest? Answering these questions and more on Ask Farnoosh this week.For more information visit www.somoneypodcast.com.

Josh Spodek has quite the resume. He holds FIVE Ivy League degrees including a PhD in Astrophysics, he's led seminars in leadership, entrepreneurship and sales at Harvard, Princeton and MIT, he's studied under a Nobel Prize winner and helped build an X-Ray observational satellite for NASA and holds six patents.He also serves as an adjunct professor at NYU, as well as a leadership coach and workshop leader at the Columbia Business School. He's also a columnist for Inc. He's the founder of Spodek Academy and out with a new book called Leadership Step by Step: Become the Person Others Follow.The topic of the day is leadership and how some of us are natural born leaders. We also discuss the difference between managing and leading and that time Josh was asked to step down as the leader of a company he founded. A wake-up call for Josh and an inspiring lesson that led to his work today.For more information visit www.somoneypodcast.com. 

From subsisting on Taco Bell and living in a garage at 40...to becoming a #1 New York Times bestselling author and coach earning more than she ever imagined, our guest is going to share how we can all master the mindset of making wealth.  Jen Sincero is the author of the New York Times best-seller "You Are a Badass: How to Stop Doubting Your Greatness and Start Living an Awesome Life" and has now released a follow-up called "You Are a Badass at Making Money: Master the Mindset of Wealth." In her latest book, she combines personal essays and advice to give readers the roadmap to a wealthier life. Jen is also a success coach and motivational speaker. She has spent more than a decade traveling the world to help people transform their lives and their bank accounts. Learn why she was always a little afraid of making more money. It had something to do with her relationship with her father. And, how to get over a victim mentality when it comes to you and your wealth.For more information visit www.somoneypodcast.com.

Once I pay off my credit card debt can I lower the spending limits... how will this affect my credit? My income is variable... what happens if I open a Roth IRA this year and earn more than the income limitation? I opened a traditional IRA but is a Roth better? Answering these questions and more on this week's Ask Farnoosh.For more information visit www.somoneypodcast.com.

Have you ever thought of quitting your job? Maybe you're too stressed and you need to get out now before you find the next thing? Or maybe you just want to travel for a bit to clear your head? This idea of taking time off of work without having a job lined up is becoming increasingly popular. But then,the thought can be scary because of the unknown. It's a big risk. In the current April issue of O, The Oprah Magazine I tackle how to best afford this move. How much money to have saved, how to secure health insurance and how to make a great comeback when you're ready to work again.In the column, I got to speak with some women who did this in all different circumstances and one woman in particular, Kristen Field. She's joining me on the podcast today to talk more about her personal experience, what she did with her time off and how she found work when she was ready to come back. How do you know when it's time to quit? How can you position a break on your resume so it doesn't look like this gaping hole?A little b

You know I LOVE real estate. I encourage you to share your questions for Ask Farnoosh. It's a topic I love. So I'm really excited to bring back today's guest, Scott McGillivray. You probably know him from HGTV's Income Property or Moving the McGillivrays but Scott is teaming up with Owners.com, which is an innovative online brokerage that offers tools and services to help buyers and sellers save money AND time. I'm all for that.If you want to know more about Scott's money past and the best day of the week to buy a home go back and check out his initial So Money interview in EP 398.In our conversation today, we talk about where the market is headed in 2017. Is this going to be a more expensive market for buyers, a cheaper market for buyers? How are interest rates going to drive the marketing? The financial sacrifices perspective homebuyers are willing to make to buy that home, because so many of us just want to become homeowners. At the same time, some people are just better off renting, and Scott has his take

How can you help your parents if they're behind on their retirement savings? Should you put extra payments toward your mortgage? What should you ask for in a relocation package? Answering these questions and more on this week's Ask Farnoosh.For more information visit www.somoneypodcast.com.

You all know by now that I'm a big believer that when women earn more and participate in leadership roles the world is a better place. Today's guest is is the National Managing Director of the Deloitte Women's Initiative (WIN). Which is helping to achieve just that. Deepa Purushothaman is our guest today and through WIN, she works to help build opportunity, enrichment and new thinking around talent and inclusion in the workforce so that all leaders, especially women, thrive. She also leads the Social Impact service line of Deloitte Consulting LLP and has a lot of experience working in the private sector. Previously, she was part of the Telecommunications, Media and Technology practice where she helped clients nationally and globally to redefine their company evolution. In this episode learn about the financial hardship growing up that shaped the way she thinks about and runs her financial life, the critical business meeting years ago that defined her leadership style and what she thinks about whether women sh

Do you want to be your own boss? My guest today is author of the new book "Boss Bitch: A Simple 12-Step Plan to Take Charge of Your Career." Nicole Lapin is here. In her new book she talks all about embracing confidence to be a boss at work, at your company and in life. More about Nicole... she's also the author of the New York Times bestseller Rich Bitch and the star of the nationally syndicated business competition reality show Hatched. You can also catch her in Redbook Magazine every month as their resident money columnist. She's been on So Money before on EP 57.Lots of great books on the market today related to women in the workplace and how to succeed. Nicole shares what differentiates Boss Bitch and how to tap into your inner badass to succeed at anything. To tell a great story you have to be brutally honest and Nicole is an open book. She shares the tough battles she's faced in her career, including lawsuits and failures. And we can't talk about women and work without getting real for a moment about ho

My dad thinks renting is a waste of money but am I too young to become a homeowner? What exactly is home equity? If my wife and I want to buy a home in the next 5 years is saving the money in a Betterment account a good strategy? Just received a work bonus... where should I allocate the funds? Answering these questions and more on this week's Ask Farnoosh.For more information visit www.somoneypodcast.com.

Maybe you knew this about me? I was a total theatre junkie in high school and college. I acted, I directed. I minored in theatre. I think that if I was more risk-taking I would have pursued acting as a career. But then I just saw LaLa Land...and saw how excruciating the audition process is in Hollywood. I'm not sure I would have lasted long.Ilana Levine is an actress who has appeared in multiple films, plays and TV shows...and the host of a new podcast called Little Known Facts where she interviews fellow performers about their lives, careers and of course all the juicy things you can't just find online about them. Like, did you know that Laura Linney was raised by a single mom in New York and spent her days after school as a latch-key kid? And Matthew Broderick was supposed to star in a breakout role with Sally Field, but then the director of the film passed away and the project never happened.For more information visit www.somoneypodcast.com.

How would you describe your money, or your relationship, with money in one word? Some of us might use the word “complicated." Others might say their relationship is “automatic”, which is definitely true in my life. Leanne Jacobs wants us all to have a beautiful relationship with money. So, what does that mean?Leanne Jacobs is a dear friend and a friend of the show. She was actually on episode 16 (one of our first shows in 2015 when we launched). She is a holistic wealth expert. Leanne’s out with a new book now entitled Beautiful Money: The Four Week Total Wealth Makeover. The promise of the book is this: “Connect and align your inner self with clear and specific external actions and you can achieve true wealth.”Her book is based on her popular Beautiful Money Course, and she also has the Beautiful Money Podcast, where I was a guest on the show. I have to admit, when I first heard the concept of“beautiful money”, I thought it was a little abstract. And I thought it was going to get a little too woowoo for my t

Should I try and buy a home? How should my husband and I tackle our student loan and credit card debt? My company is making us sign new contracts... is now a good time to bring up a raise? Answering these questions and more on this week's Ask Farnoosh.For more information visit www.somoneypodcast.com.

We're going to learn how to make our mess our mojo today! I'm excited to bring back a lovely guest who's released a new book called The Big Life: Embrace the Mess, Work Your Side Hustle, Find a Monumental Relationship, and Become the Badass Babe You Were Meant to Be. Ann Shoket, the former Editor-in-Chief of Seventeen Magazine, is here. If you missed her on the podcast the first time go back and take a listen (EP 328).Millennial women want to have it all - they want the career that comes with the money, they want friendships and they want a relationship where they are loved and respected. Is it really possible? Ann says YES. In the book, she provides actionable guidance from high-profile Millennial women who are on the quest to have it all. She wants to help the younger generation create their own version of the Big Life WITHOUT compromise.  For more information visit www.somoneypodcast.com.

There’s a lot happening in the political world, to put it lightly. It's hard to keep up. I have a hard time just consuming the morning news. It’s especially hard to know what’s happening outside of the political realm. What are some of the other things going on in society from health, to sports, to business?Our guest today is financial journalist, Vera Gibbons, who is trying to solve that problem with her new daily newsletter, nonpoliticalnews.com. It highlight’s the day’s news and shares stats and facts that are being overlooked by the mainstream media, given the heavy political news coverage today. It prides itself on not having bias or opinions - just delivering the news.A little bit more about Vera.... she and I have known each other for over a decade. She was the former financial contributor with CBS’s The Early Show and has also worked as a correspondent for CNBC’s High Net Worth. She still appears regularly on national news networks.With Vera, we talk about how with a full-time job, she started this si

Should I put money that was gifted to me in a money market account? What type of supplemental retirement account is best? What will happen if you request forbearance on your student loans? Answering these questions and more on this week's Ask Farnoosh episode.For more information visit www.somoneypodcast.com.