Money Files is back with another client check-in!
In this episode, I reconnect with my former client Ellie, who first appeared on the show two years ago. Since our time working together, Ellie’s net worth has grown by over $100K, she’s traveled the world, and she’s continued to use the budgeting framework I helped her create.
But as Ellie shares, financial growth doesn’t mean every month feels perfect. From revisiting credit card debt to navigating lifestyle changes and dating expenses, she opens up about what it looks like to sustain progress even when new challenges appear.
Tune in as Ellie and I discuss how financial coaching helped her develop awareness, systems, and confidence, tools that continue to serve her through each new season of life. Together, we explore how to approach money with curiosity instead of shame, identify patterns that need adjustment, and celebrate the long-term wins that make lasting financial transformation possible.
Listen in to learn:
[01:25] How Ellie’s net worth grew by six figures in two years
[03:40] The truth about “financial backslides” and how to recover without guilt
[07:10] How to handle lifestyle shifts like dating and higher living costs
[10:50] Why perfection isn’t the goal, but awareness and consistency are
[18:35] The power of weekly money dates and how to bring them back
[23:45] Building an emergency fund without the overwhelm
[30:40] The mindset shift from fear to trust with your finances
[44:30] Why financial coaching creates sustainable results years later
Tune into this episode of Money Files to hear the real-life impact of financial coaching and how to keep growing your confidence and your bank account, even when things get messy.
Are you ready to start asking for help with your finances? Apply to work with me, and let’s start working towards your financial goals.
If you loved hearing about Ellie’s financial journey, check out Episode 74: How Ellie Got Out Of The Paycheck To Paycheck Cycle As A Six Figure Earner for more insights on how coaching transforms not just your numbers, but your mindset and long-term habits.
Transcript for “How Ellie Grew Her Net Worth by $100K (and Still Traveled)”
Intro: Hi, and welcome to Money Files. I’m Keina Newell from Wealth Over Now. I work everyday with professional women and solopreneurs to help them get out of financial overwhelm and shame so they can experience more flexibility and ease with their finances. Are you ready to gain confidence and learn to manage your finances intentionally? Tune in and grab financial tips that will help you master the way you think about and manage your finances.
Keina: Hello and welcome back to another episode of Money Files. So, I thought it would be fun because apparently you guys like these types of conversations where we’re revisiting clients, and having conversations with clients that have been on the podcast in the past, and now they’re back with me again.
I think it answers the question of, like, does that financial coaching thing you do, Keina, really work? Like, what happens to clients after the five months? But I am joined today by my client, Ellie, and the last time that I had her on the podcast, it’s probably been about two years ago now because we worked together, well, she reached out to me in December of 2022. But while we were working together, she had gotten a raise, and then had also started contributing to her 401(k), was working on paying off some debt, and doing some traveling. So, Ellie, I’ll just let you introduce yourself and kind of go into what’s happened since the last time we talked about.
Ellie: Yeah, awesome. So, yeah, hi, I’m Ellie. I live in Washington, D.C. still,still at the same job that I was at two years ago. And, yeah, I don’t know. I mean, I would say… well, I was kind of thinking,I looked back at, like, my… I still use the template very religiously and, like, the money-spending budgeting system that you gave me. So I was looking back at the, like, financial landscape from when we ended in, I think it was around May of 2023. And I was like, oh my gosh, my net worth has grown, like, over 100K since then.
Keina: Wow. Look at that.
Ellie: Yeah, it’s really cool. And I was,I was feeling a little bit down, like, kind of coming into this because I would say my credit-card usage has not been as, like, controlled as I would want it to be. Like, I definitely have accrued a little bit of credit-card debt. And, yeah, there’s just, like, some stuff around that. But on the flip side, yesterday I took my cat to the vet and it cost $900,and I was prepared for it. Like, I had that money saved. So, yeah, you know, I’m trying to remember that, like, there are still so many things in place that I would not have had in place had we never worked together. And, like, also I’ve taken amazing trips since we worked together. I’m going to Morocco in January,I can’t wait for that. Like, so there’s a lot of, like, good stuff that I’m trying to, like, reflect on and remember as well.
Keina: I have so many questions. I should also say, like, Ellie, I emailed her to be like, hey, will you be on my podcast again? And your response was like, I read your email, but I also hesitated because of my credit-card debt. And I was like, we can coach on it on this podcast if you want to. But I’m curious, like, when you say, like, credit-card usage, what,how are you walking yourself through that in terms of, like, what are you aware of? Like, what’s happening, I guess, is my question. Like, what do you know about your credit-card usage that maybe you’re able to frame because of our work together? I’m just,just tell me what’s going on.
Ellie: Yeah, that’s a great question. So I did transition to using only my credit card. I think after we stopped working together, I got, like, a different credit card that has better point value, that kind of thing. So at this point I,except for bills,use my credit card for pretty much everything. And so what I have noticed is there’s a ton of money I’m able to pay off that’s just, like, my living expenses,like, you know, Ubers, eating out, that kind of thing. But maybe, like, once every three months, I eat out way more than I have budgeted for. And then because it’s on a credit card, instead of feeling like I have to make that money up somewhere else, I just leave it on the credit card. And I am accounting for it, like, in my money diary,like, my little journal. I’m saying, like, “unpaid,on quest and then it’s like an itemized list of, like, everything that is unpaid. But I don’t then have a plan to pay that off. Like, the next month comes,my money budget, or my eating-out budget, is the same, and it has to pay for what’s to come, so there’s no money left. So, yeah, there are just a few things where I’m like, oh, I just think I have more money than I do, basically. Which is, like, real.
Keina: Yeah, I mean, it’s,I,I’m thankful for you in expressing, I think, what is actually really happening. And I’m even guilty of this,like, I’m not void of overspending. I am very guilty,just like, oh, you know, like, I’ll figure it out. But it’s the awareness piece,like, you have a different level, it sounds like, of awareness, but yet the next piece we need to get you to is, how do we actually solve for it? Because the new phrase that I’ve been using with people is, like, oh, I’m seeing, like, a little “fake math” going on where you’re like, I’m gonna figure it out,but you’re not actually making space to figure it out.
Ellie: Yeah. And I’m not,like, yeah, that’s so right. I’m not making space to figure it out.
Keina: Because what I wrote down is, you said, like, once every three months I am finding that I’m eating out more. So I’m like, okay, that’s a pattern that we can actually solve for.
Ellie: Yeah, it’s true. Yeah. I guess I’m like, maybe it’s once every three months. I haven’t, like, tracked it quite that,like, that feels like about what it averages out to. But it probably is, like, something trackable.
Keina: But it also,let’s just go with the once every three months. I’m sure, because, working with you, I remember one of the things very vividly, you’re like, oh, I like to buy merch at concerts. Right? Like, you have things,like, there are ways in which you want to enjoy your life. And so, if we were still coaching and working together, it’s being able to say, okay, Ellie, like, what’s happening? Do you have friends coming into town? Is it like the seasonal shift of, like, oh, it’s, you know, al fresco dining, or whatever is happening that’s kind of,that causes you to overspend, if you will, in your eating-out category? And how do we just readjust your numbers? Because maybe it actually looks like if you added an extra,just making up a number here,an extra $50 a month to eating out, although you may not use it all the time, does it work in this cycle of, like, every three months I’m going to have a little bit of extra padding so I can absorb my friends coming into town, or me saying yes to more outdoor activities?
Ellie: Yeah. That’s really interesting because I feel like,especially with the categories that are, like, eating out, clothes, and cosmetics,I end up… if I have something left over in those,if I need to cover another category,I end up pulling from those ones because I’m like, well, those are just kind of, like, the fun or silly categories. But it’s also, like, those are, beyond my bills, the recurring categories every month that I’m gonna spend something on. So, yeah, maybe it would take, like, a mindset shift or something like that to think of them as, like, maybe more similar to the categories where I need to be, like, accruing some money,like the monthly or yearly subscription kind of categories, or something like that. That makes sense.
Keina: Yeah. Well, because,aren’t you,you’re getting ready to turn 30? Yes.
Ellie: Yes. Yeah
Keina: Yeah. The reason I’m drawing this parallel is because 30th birthdays,people want to celebrate, right?
Ellie: Yeah.
Keina: And you may,or may not,know where I’m going here, but it’s, like, one of these… it’s kind of like a known thing, but some people don’t think about planning for it. But after my friends, like, started to hit their 35th birthdays,I was like, oh, I need to start planning for people’s 40th because people are gonna try to make me really poor. And I started just kind of, like, stacking money,literally in a bank account that says “40th Birthday.” So even just doing something like that where you basically just create, like, a sinking or a slush fund that gives you a little extra space when you know,because I’m just curious if some of your overspending in eating out is for celebratory moments, and not just, I don’t know, an extra Chipotle or Cava or Sweetgreen. And so you’re actually able to have some extra padding. So just taking the time to go back through your categories to say, like, do my categories still fit for, like, what’s happening in this season of life?
Ellie: Yeah, I do think some of it is celebratory. Although I do have the amazing,which I thank you for every time I use it,“occasions” category that’s in my, like, high-yield savings. So I often will turn to that. I will say I have been dating someone for, like, four or five months, and that has, like, really changed my,especially eating-out budget. Like, so I don’t know, maybe that’s a contributor. But I do kind of think I was just,or I am just,accruing a lot of money based on, like, too many lunches out or too many, like, coffees out and that kind of thing.
Keina: But, like, knowing that you could decide, guess what, you need to pause and go sit down somewhere. Those are the conversations I have with myself, even this week, because I’ve been out of town and I haven’t,this is a minor thing,but I haven’t had any half-and-half in my refrigerator, and I’ve had coffee out the last three days. It’s not bad. And just for those of you listening, I actually tried to go to Whole Foods and get the half-and-half I like. They were out of stock. But I’ve been, like, giving myself permission to go get coffee, and it’s not a lot of money. I probably spent, like, 15 bucks over the last three days. But at the same time, I’m like, Keina, you need to go get some $3 half-and-half and have your coffee at home. Because I also know if I, if I continue to do that thing, it just… it can slowly eat away at money that I actually want to be able to use for something else, you know?
Ellie: Yeah. Yeah. So I was doing, like,every time I came,I have a hybrid work environment,so I was like, okay, well, every time I make it to the office, I’m gonna buy breakfast and a coffee. And that was getting pretty out of hand. But lately I’ve been making coffees at home that I really like. So just, like, today I was like, okay, you know what? Just bring the coffee you like from home. And then I still got the breakfast out, but I was like, well, this cut the bill absolutely, like, in half, you know,just by bringing my own coffee. So I’m like, there are little things I can do that, like… and I enjoyed the coffee more. Like, that’s the, the key piece, I think, is that. I will say I do think for probably, like, a year after the two of us worked together, I was like, I have so much money. Like, I just felt rich, which felt so good. And I still feel that way in a lot of ways, but, like, it felt so good that I was like, maybe I took it a little bit far.
Keina: I think the thing we’re also not talking about,because we both live in D.C.,is, like, things are actually… like, every time I go to the grocery store something is a dollar more, I feel like, than it was the last week. And so it’s also naming that things are more expensive. Like, I was talking to a friend,I’m like, you can’t grab lunch for less than 20 bucks. So those habits that you may have had, they’re also… and when I’m saying “you,” like, I’m talking about the universal “you”,they’re just more expensive. But sometimes we don’t, like, stop and recognize that and think about how we actually want to shift. Like, do we actually want to increase the amount in our budget to account for the fact that every lunch is going to be $20? Or do I,to your point,like, want to actually pack my lunch, you know, three days a week, and then get lunch out once a week? So, like, thinking about little intentional shifts so you can actually have the amount of money you desire to have.
Ellie: Yeah, yeah, you’re right. It has gotten really expensive.
Keina: Like, when I go to my local coffee shop, if I get, like, one of their, like, little pastries or, like, a little breakfast thing and coffee, it’s easily 10 bucks.
Ellie: Yeah.
Keina: And so, I mean, you do that five days in the week,that’s 50. That’s 200 in the month that you could just kind of spend without thinking about it. I have so many questions because you also mentioned dating. How’s dating impacting your budget?
Ellie: I mean, so now we’re at the point,my girlfriend and I,where we’re, like, eating at home more and just, like, doing that kind of, like, thing, which has been helpful. But I would say there were, like, three months at the beginning where it was, like, we’re just going out a lot. I was just spending a lot of money, and I know she was as well. But I am the higher earner by a fair amount, which is totally fine. But I think that, like, there,I felt a little bit of pressure,not something we ever really talked about, maybe,but, I felt a little bit of pressure to, like, maybe, like, pay a little bit more. So I think probably still a conversation worth having. But, yeah, like, if I want us to go on, like, a nice date somewhere, I do feel like, okay, I’m gonna foot the bill for this one. So now instead of dinner being, like, you know, 60 bucks,which is a lot for dinner,it’s, like, 120, which is, like, you know, blowing my budget for the next week at least. So that took a while to get used to. I think it’s evened out a lot. But my dad used to say, like, when my brother wouldn’t have a girlfriend, he would be like, well, he can’t afford one. And I would be like, what do you mean? It’s just love. And now I’m like, oh, I actually, like, genuinely get it. If you want to be, like, out and about and, you know, creating, like, experiences with each other, it does get pretty,pretty expensive.
Keina: Have you talked about money at all in your relationship?
Ellie: We’ve talked a little bit about money. Like, she, we’ve talked about the discrepancy in what we make. And,but that’s kind of it. I would like us to have a conversation that’s more like, here’s what we’re comfortable with. Like, we could go on, you know, two nice dates a month, or… and then one of, those I’ll pay for and one of those we’ll split, and we’ll go to, like, one concert or, like, entertainment thing. But, like, I would really like to have a conversation that’s, like, cut-and-dry in that kind of way. But we,every time we hang out, we’re just having fun. So I don’t want to, like, bring up money.
Keina: I think one of the easiest ways to bring up money so you’re not like, hey, guess what, I’m not trying to foot the bill for dates anymore,is also to ask the other person, like, what are you working on financially? Right? Like, and how do I support you in your financial goals? Like, are you looking to save money, or, like,like, where do you want to be? Are you trying to buy a house? But kind of blowing up and getting to the bigger picture. Because I think that that then shapes how we want to show up in the day-to-day and the week-to-week. So you’re thinking about, like, hey, let’s go,I mean, in D.C., we have so many free events, right? So, like, let’s look at Eventbrite and see what, you know, entertainment things that we want to take advantage of. But on a scale of, you know, 1 to 10, like, where do we really want to spend our time this month? And just, like, thinking about it more so from a support place. Because I think the thing that I find when people are dating and even moving into relationships,it’s like we never talk about shared financial goals or individual financial goals. And so the other person is always thinking about how they are being viewed in the lens of the other person,which I’m always like, if you guys actually had more money conversations with the people in your life, you would realize that everybody’s like, maybe we do need to sit down a little bit more, or, you know, we could come over here and we can cook, or whatever that looks like. Because you don’t want to actually sacrifice the things that you have going for yourself financially,because those are also important things,when it comes to, like,I think both in friendships and romantic relationships.
Ellie: Yeah, yeah, I think that’s totally fair. Like, I really like that framing of, like, what goal are you working towards so we can, like, get there together. Because right now it feels like, well, as soon as this comes up, like, it’s going to be hard for us to talk about. But there’s no reason for it to be hard,I don’t think. Like, we both want the same thing for each other and, you know… yeah. So.
Keina: And especially, like, if this is someone you’re like, hey, I could see us being together for a long time, you’re breaking the ice right now. And, yeah, I think talking about one of those, like, taboo types of things. And you can also, you know, you can use my name and be like, you know, I worked with a coach years ago and she helped me really think about some things differently. And so, like, what do we want to bring into our relationship so we’re both meeting our financial goals?
Ellie: Okay. Yeah. Yeah. It’s been on my mind that we need to have, like, a real conversation about it. So it’s probably time.
Keina: Yeah, I mean, it’s, you know, not one of the sexier conversations, but it’s definitely,definitely meaningful. Anything else that makes you think about anything else?
Ellie: No, I think that’s,yeah, that’s it.
Keina: So you’re at,going back to some of the things you said earlier,you’re at the same job. I think when we ended, you were making, like, 135,000. Have you gotten raises since then? Like, how’s that working?
Ellie: I’ve gotten one raise,so now I’m at, like, 157.
Keina: Okay. How’s that feel?
Ellie: It feels good. It’s so interesting. I think that when I got that raise, I was just like, okay, here I go,like, I know exactly what to do with it. Like, because I knew exactly where the money was going to go, it almost felt like less of a celebration in a way. Like, I had to be more intentional about being like, yeah, I did it,I got a raise,because I was, like, so logistical about it. But with that raise, I think I was able to,so I was already maxing out my 401(k). And then with that raise, I started maxing out my Roth IRA as well.
Keina: Oh my goodness, I love you. I love you so much.
Ellie: And so having those two,that’s, like, how I’m building the net worth. I mean, it makes such a big difference. But it’s really cool to, like, see those accounts growing. It really is rewarding. So that feels good.
Keina: Listen, I have done my work here because you’re so young, and you’re going to be so rich. You are so rich.
Ellie: Yeah, I think maybe that’s right. Yeah.
Keina: I love that. Oh my goodness, I’m so excited. I’m genuinely excited because I remember you making the decision to fund your 401(k) with that raise, and I’m like, Ellie, all of the money will be yours that you get in your next raise if you just do this now. Please, just do it.
Ellie: Yeah. And that’s what happened,like, I have, I think after I funded my Roth IRA,and I was like, oh, there’s still, like, you know, a couple hundred bucks left over,like, it was a really nice raise. You know, it was pretty sizable. So… and then I,I am anticipating possibly getting another raise at the end of this year, and I haven’t really thought that much about what I’m gonna do with it. I know I do need to… I don’t have a full emergency fund yet, which I’m also, like, kind of… well, I’m a little bit disappointed in myself. But also I had built it up and then had to use some of it for an actual, like, you know, emergency-type situation. So it has served its purpose, definitely. And I’m also trying to get more into the mindset of, like,I think when I started with the emergency fund, I was like, well, if I lose my job really suddenly, I, like, have to have this built up, which would be valuable. But also I have a lot of job stability. So, like, I’m trying to get out of quite so much of, I’m in danger if my emergency fund isn’t full. And more just, like,ah,it will help me if my emergency fund is full because I’ll be advancing my financial goals, which feels a little bit less, like, doom and gloom about it.
Keina: Well,and putting you in a place where,I feel like “urgency” is the word I want to use,but I feel like there’s an urgency that can create different, like, visceral reactions in your body where you’re like… you’re so attached to it that I think that it doesn’t just get,like, your emergency fund doesn’t just get to fill up naturally. And it’s not something you feel like I’m just gonna put this on autopilot and then it’s going to show up for me.
Ellie: Yeah, yeah. Like, other, like, savings buckets,like my vacation savings bucket,I felt like one day I logged on to my account and I was like, oh my gosh, there’s so much money in that. But the emergency fund, it’s like every cent I’m like, yep,and that’s how much I’ve got in there.
Keina: How much do you have in your vacation fund?
Ellie: Well, I currently have nothing because I booked this trip to Morocco.
Keina: You just did a trip.
Ellie: But I was able to sign up for a trip to Morocco that, like, just feels so cool,that I’m really excited for. That was, like, 3,500. And, yeah, I was able to do it, like, really easily. And then I also went to the U.K. with some friends earlier this year. And, yeah, it’s just been a lot easier to, like, travel,a little bit spontaneously, but also just kind of, like, in a more relaxed way.
Keina: No. I remember travel being really one of those,you’re like, no, I want to be able to travel. And I think we started working together after you got back from a trip,you’re like, I’m going on a trip, and then we can start working together. Yeah.
Ellie: And that was,my mom had paid for a lot of that trip, and we since have been away as a family again, and she just is not really in a position to, like, pay for me and my brother, and we’re adults, so that’s fine. But,he lost his job because he worked for the Biden administration, and so when we went on this trip, she ended up covering his cost, but I was able to, like, cover all of mine because I’m, like, you know, employed, and that was totally fine. So I was like, this just feels good that, like, last time we went on a family vacation, I couldn’t cover any of it, and now I’m, like, able to help out.
Keina: I love that. I also feel like there was something,I can’t remember exactly,but we had also talked about… did we talk about your mom and you wanting to be in a financial… I feel like you wanted to make sure you had some financial stability,kind of thinking about your mom aging and some things.
Ellie: Yeah. And I feel like I’m making some strides towards that. And then also I’ve been able,because I feel like I have a better sense of, like, how money works, just generally,I’ve been able to have some really good conversations with her about, like, how actually prepared she is financially if she,I mean, she’s in really good health, so I think a lot of my fears were, like, are hopefully further down the line, but if she were to need, like, to go into a facility or, like, assisted whatever,end up at the hospital,like, I have broken down with her, like, what she has available, and it felt good to be able to, like, have those conversations and kind of, like, get on the same page about what I would need to be prepared for as well.
Keina: Is there a reason that those needs felt really urgent when we first started working together, and now maybe they feel less urgent now?
Ellie: Yeah,well, I think it was… it was pretty, like, personally connected to, like, the time when my dad had passed away. So I think it was mostly about that.
Keina: What happens if she also needs help or if she passed away?
Ellie: Yeah,it was just, like,because he passed away really suddenly,so I was like, oh my gosh, do we have to, like, cover all of this now? And I’m not prepared. And now I have a much better understanding…of, like, how their money works together. And also just seeing that, like, she’s maintained good health through these years,so, you know, that helps too.
Keina: But also, like, I want to give you kudos for having that conversation with your mom, because I think so many people don’t have financial conversations with their parents, but they’re so important because you don’t necessarily know what’s moving around, or, like,some of our parents aren’t as open. Or if you don’t also feel like you understand your own finances, then it’s like, well, how am I going to go and have this conversation with my mom or dad about, you know, what’s happening with them financially?
Ellie: Yeah. And I think it changed a lot for,I think my mom was a little bit skeptical of me doing this financial coaching at first. Like, she was like, I trust you, but that’s a lot of money kind of thing. And when I came out on the other side, she now, like, turns to me for advice more than I kind of expected her to. And she just, like, really trusts me and my financial know-how, I guess. So that feels really good too. And my brother is not,I know,I,this was the case when we were working together, that he was not in the best financial shape. And that has definitely continued. It’s getting better, but it’s still not great. So to be, like, a stable person financially in my family really means a lot to me,and I think means a lot to them as well.
Keina: I love that. Oh, yeah,because you guys,were you guys both paying for a car? Like, he gave me a car,
Ellie: Yes. Yeah, we still do that. Yes.
Keina: And I was like, are we actually getting the money from your brother? Let’s make sure.
Ellie: And we are. Yeah. It’s so funny because everyone who knows us is like, do you guys fight a lot about that? And I’m like, no, actually, the car has brought us together somehow. Like,but he,we do get that money. And, yeah, we’re,we’re about halfway done with the payment,the auto loan,so we’re in good shape.
Keina: Totally. I forgot about that. That is amazing. I’m glad to hear, like, that you’re able to kind of be, like, the financial pillar and the one that people can confide in or just being able to talk about,because there’s so much to talk about with finances that’s not “how much money do you make?” and “how much debt are you in?”
Ellie: Yeah
Keina: Can we,can we go back to,I kind of want to,like I told you when I interviewed you,when I emailed you,like, we could do some coaching on the call. I feel like we’ve done a little bit of,but what’s your goal for your emergency fund?
Ellie: I think my goal is roughly, like, 9 to 10K.
Keina: Okay.
Ellie: I think the nine,like, maybe it’s, like, 9,300 or something,would be, like, a very solid three months of savings. And I’ve never gotten it that high. And,yeah, so that’s my goal. My,I do get, like, a bonus at the end of the year every year. And I was really hopeful that this would kind of be, like, the very first year that I didn’t have, like, a significant payment to make on, like, a credit card or something. And I could just put, you know, the bulk of that into, like, the emergency fund, and then the rest of it could kind of,figure out what to do with from there. But it’s kind of looking like I will have to pay off more credit card than I was, like, hoping for. So I’m not sure exactly how that’s going to pan out. So, yeah, that’s kind of where that stands.
Keina: How much credit-card debt are you looking to pay off?
Ellie: Well, okay,so on my two credit cards that have interest, I think I have,it’s around 5,000 between the two cards. And then I have a zero-interest transfer on a different credit card that’s at, like, 6,900. So,okay, that one,the interest doesn’t kick in until, like, next October, so I have some time there. I’m definitely more focused on the other two. But yeah, it’s a little bit less than 15K, I think.
Keina: Yeah, it’s like,we’ll call it 12,000.
Ellie: Yeah.
Keina: When’s the last time you, like, went back and actually revisited your budget and was like, all right, here’s how much money I make, here’s kind of where my goals are,let’s lay it all out.
Ellie: I sort of did it recently because we, like, got HSAs at work. So I reshuffled some money based on, like, having an HSA now instead of having to pay everything, like, out of pocket kind of,or, you know, out of my budget. But I haven’t, like, I think it would be really valuable for me to go through, like, two or three months’ worth of, like, how much am I actually spending dining out and, like, on groceries and that kind of thing, and, like…really adjust from there. So I haven’t gone that in-depth maybe in, like, over a year.
Keina: Okay. I was going to say that would be my,like, let’s come back to your kind of plan. Let me back up,one more,more question. Like, what,like, if you think about kind of the next six months or the next year, like, what are your, like, kind of three financial priorities or goals?
Ellie: I think paying off credit card,like, getting down to a zero,like, no balance on my credit cards; building up to at least three months in my emergency fund; and then I think probably, like, I would love to be,I know I’m investing in 401(k) and the Roth IRA, but I’d love to start building up, like, an independent stream of investments, I guess,
Keina: Like I have a brokerage account.
Ellie: Yeah, I’ve, like, dipped into it here and there, but then other stuff has always taken precedence, so I would like that to become, like, a steady stream for me.
Keina: What’s been getting in the way of you paying off your credit-card debt and building up your emergency fund?
Ellie: I feel like I pay off so much on my credit card and then I’m just still building it up. The emergency fund,I don’t know. I would really have to look at that, because I,I’m contributing, like, $550 or $600 a month into my emergency fund. And it definitely is building. Like, I think right now I’m right about at 5K, so I’m not far,you know, I’m over halfway,but it just seems like it can never get past…
Keina: It’s so slow.
Ellie: Like, my hair won’t grow longer than, like, a certain,that’s, like, how it feels. It’s just, like, it won’t get to, like, 7K or, like, you know… so I don’t know. It must just be because I’m, like,
Keina: What do you dip into it for?
Ellie: I dipped into it,so I had this vet payment I made yesterday. I,I had, like, $750 out of the, like, 900 saved, so I covered the rest from my emergency fund. So I guess that’s not, like, an emergency-emergency, but, you know… I can’t remember, though, besides that, the last time I dipped into it. But I do think it’s probably for stuff like that,where, you know, like, I have a bucket for auto things that I need, but maybe if it’s not quite full and I have to pay more, then I will use the emergency fund for that.
Keina: I would look back at your emergency fund: like, the number of times you see a subtraction from it,and see what it is. Because it sounds like vet stuff, car stuff. And maybe you’re underfunded with what you’re saving for auto maintenance,because your car is older than it was when we worked together, right? And so there are things that are coming up,like, oh, I don’t know, you need brakes, you need tires,things that maybe weren’t so true when the car was newer. So it might be true that you need to increase what you’re saving for auto maintenance. Or even, like, looking at the cats,like,or one cat, right? One cat?
Ellie: One cat, yeah.
Keina: Maybe it is $1,200 a year that really is happening when you think about what the cat needs. And I know that mentally it’s like, well, no, these were one-offs,that it was, like, this $900 expense. But if we look at the past three years,is it 900 this year, but last year was six, the year before it was four? And so just kind of seeing that that might just be an upward cost trend. So when you go back and look at your budget, just making sure that you’re increasing those savings amounts. And maybe it means that, like, instead of saving, you know, $500 or $550 towards your emergency fund, maybe you’re saving four,but it’s going to be money that you’re not having to touch. So you’re going to see the growth. And so, mentally, that’s going to be a shift,so you can actually get to the,from five to go to seven to go to eight to go to nine. Because you also have a,there’s a ceiling and a threshold where you expect to not get past that number.
Ellie: Yeah.
Keina: So it’s like, of course I’m not past this number already,right? That’s one of the things that I would say about your emergency fund. And then also I know we identified on the credit card,the things that are coming up are, like, eating out a little bit more. But, like, look at what’s going on the credit card that we’re not able to cover and maybe what’s not in the budget. And so you’re just kind of looking over it because it’s going to figure itself out.
Ellie: Yeah, I’m certain there’s stuff that I’m doing that with. So,yeah. Okay.
Keina: And are you paying your credit card off as you go or just when you get the statement?
Ellie: As I go. So at this point, I’m kind of doing,I did do the, like, weekly money day very strictly for probably, like, a year after we stopped working together. And now I do it pretty much every, like, other week. Every time I get paid, I sit down and, like, do my money. So I pay off what I have put on the credit card then. But, yeah, it’s,it’s growing. So
Keina: What was the difference going from weekly to, like, kind of bi-weekly in terms of, like, what you saw happening on your credit card?
Ellie: I guess it must have made,honestly, I,it must have been, like, increasing the amount that was on it. Because at first it wasn’t, like, a cognizant shift to be like, oh, I’ll just do it when I get paid. I was like,suddenly it became very stressful for me to do the money dates, and I was like, oh, I don’t want to, like, look at what I’m putting on my credit card. Like, I don’t want to deal with it. And then, you know, once I was sitting down dealing with it, it was totally fine. But yeah, it wasn’t like a, okay, I’m at a good place where I can just do this every other week now. It was like pulling teeth to do it. So.
Keina: It’s, like, a little shame creeping in.
Ellie: Yeah, definitely.
Keina: Because you’re like, oh, I’m not,I’m not doing the right thing. When I find myself being avoidant to my money dates, I’m like, you’re scared of what you’re going to find. And at least having the awareness of that is really helpful.
Ellie: Yeah.
Keina: But I would also say, like, let’s get back to weekly money dates because it’s going to let you know, what can I do going into this week? Because you also get to look at your calendar,where even,we talked a little bit earlier about the lunch situation or,yeah, when you’re going into work,breakfast is what you were saying. But you might be like, okay, this is a week where, like, I know I have a lot of stuff going on this weekend. I am definitely not getting coffee, and I’m not doing breakfast,because those, you know, $15 or whatever that I would do two or three times a week, I actually want to make sure that I have more money for this weekend. And you get to have some of those, like, mental conversations with yourself and make more proactive versus reactive decisions about where you want your money to go.
Ellie: Yeah, that’s really smart. That would feel a lot better because there are a lot of… like, maybe I’ll get to, like, Wednesday or Thursday and I’m, like, talking to my roommate,we’re best friends,and we’re like, oh, shoot, we’re going out for an expensive dinner this weekend. That, like,if we,like, we’ve just hit order on Uber Eats, and if we had remembered 20 seconds ago, we would have, like, not ordered out now so that we could cover the expensive dinner this weekend that we’re, like, actually looking forward to. So,yeah, just, like, knowing some of that in advance would be really helpful.
Keina: Yeah. And you’d be like, nobody wants this mediocre DoorDash or Uber Eats,that’s gonna be lukewarm when it gets to me.
Ellie: Yeah, it’s like,just because we’re too lazy to look through our cabinets. But if we just did that, we could be in better shape. Yeah.
Keina: Listen, I need you to have the money conversation with your roommate too. You’d be like, listen, we’re holding each other accountable because I’m gonna hit 10K in my emergency fund, and I don’t know what she’s working on,but, like, hold,hold each other accountable to not hitting “go” on mediocre food.
Ellie: Yeah. Yeah, you’re right.
Keina: And it’s not, like,not a punishment,but,yeah, I,I can’t,I can’t say that anything DoorDash is really,well, although I did get some really good food,that,there is a place… but DoorDash as well,around the corner from me.
Okay, so I would say, like, with those fixes,being like, let’s set,you’re at 5K right now, and if you can, like,if you continue on your same path,let’s say you don’t get to put the money that you want to put towards, like, your bonus,like, let’s say you’re going to put that towards your credit-card debt. If you consistently contribute the $500 a month, then the 10K milestone would be in October of 2026,that you should hit 10K.
Ellie: Okay.
Keina: But it’s,we want to get you to 7K, which is four more contributions. So in four months from now,so January,you should be at 7K. So I need you to put, like, a calendar reminder for yourself, like, in January of 2026, I know I’m doing,if you,you guys are listening to me,I might have missed a number or two. But if I’m,if I’m calculating it correct just really quickly,January 2026,like, you should see that you’re at 7K. So check in with yourself there to, like, you know,give yourself, like, a little celebration that you actually hit your goal.
Also, on the flip side of this,if we,if we continue to do the weekly money dates,you’re thinking more, you know, intentionally about how money is moving,even if you,let’s say you use your bonus and you’re like, okay, I’m clearing all of this out, or maybe I’m just going to be able to clear out the 5K that has interest,you’re either going to take that money and start accelerating the $6,900 payment, or, if you’re able to wipe all of it out, then think about how you want to prioritize funding your emergency fund first and making that a, like, non-negotiable that you want to hit the 10K.
Ellie:Okay
Keina: So, like, even if you go to, like, $800 or $900 a month there,like, that is going to be something that just is able to build. And honestly, I would love to see you get to, like, 15 or 20K,
Ellie: Yeah.
Keina: Just in the event that you lose your job,that you’ll have a good six-month emergency fund.
Ellie: Yeah, yeah. And just, like, the freedom I think that would come with that would feel really good. But, yeah,okay,that all makes a lot of sense. That’s helpful.
Keina: I mean, but you’re doing,Ellie, you’re doing phenomenal. And I’m appreciating you coming on the podcast because, like, there are real things that happen with money. And I think,I wanted,I wanted to take some time to, like, go behind the scenes,to be like, hey, things happen with our finances, right? And, like, even after working with me,like, how do I think about new situations that arise, and how does, like, coaching help me overcome some things that I maybe wouldn’t have overcome in the past or, you know, help me think differently than I would have thought?
Ellie: Yeah. I mean, I definitely,I still have a lot of,I mean, who doesn’t,like, a lot of emotion with money. But I will say I think overall I have a much more, like, pragmatic view about it than maybe, like, some of my friends do,or than I definitely would have if we hadn’t worked together. Like, I remain so, so grateful that we spent that time working together because I do think it really,it came at such a pivotal time when I was becoming a higher earner and I could have gone a much different direction. I never would have maxed out,I didn’t even know you could max out your 401(k) like that. Like, I return to that all the time. I was like, that’s for people making 300K plus. And it’s just not,like, I, you know… so I’m in good shape. I’m just not exactly where I want to be, but this is really helpful. I feel like I can make just a few adjustments and that one.
Keina: Yeah. And I always want you to know you’re, like, one adjustment away from, like, the,where you actually want to be.
Ellie: Yeah.
Keina: And, you know, I’m always an email away.
Ellie: Yeah, yeah,true.
Keina: Oh, and I want to comment on what you just said because you said it’s for people that make 300,000. And for those of you listening, there are people that make 300,000 and they’re not maxing out. So, like, whatever habits you build with the money that you have right now,those are the things that are going to go with you from one money cycle to the next. And I’m even, like, thinking about,for you,I’m like, yeah, you can,you have so much earning potential ahead of you. You’re making 157,000. You’re almost 30. Like, how do we get you to 200,how do we get you to 250? And you already have so many things on autopilot when we think about, like, building wealth. And now you’re going to be able to continue to add in those other things you want. Like, I want wealth and a fully funded, you know, emergency fund. I want wealth and the ability to travel when I want to. So just thinking about those things, and how you set yourself up at 26 to make sure that that’s going to happen.
Ellie: Yeah.
Keina:Is there anything I didn’t ask you that you want to share? Maybe any other shifts or things that you’ve thought about?
Ellie: I don’t think so. Yeah, I think we covered it all.
Keina: Anything you’re excited about since we talked?
Ellie: I mean, it feels really,like,it’s crazy because it’s in a spreadsheet, but it feels really exciting, like, month after month to see, like, the net worth keep growing. And I will say there have been a couple months where it did not grow,either because I,like, one month I bought a new bed, and, like, I didn’t sleep in a queen-sized bed and I needed to start doing that. So, like, you know,but I was able to be like, oh, okay, it’s fine that, like, my net worth didn’t grow this month so that I can, like, have this nice thing. So, yeah, I don’t know,that has been really exciting.
Other,like, more life-based,yeah, like, being able to take this trip to Morocco is really exciting. I,on the topic of 30th birthdays,I did,I got this offer for, like, a five-night stay at a hotel in Orlando. And I was like, wait, I want to take all my friends to Orlando for my 30th birthday. So I’m going to pay for the hotel and then they’re going to come. And, like, being able to do that is, like, such a gift. So there’s a lot that I’m really looking forward to, for sure.
Keina: I love it. And, like, you,you were talking about the queen-size bed. I think that also just speaks to,as you get older, as you age,like, life has seasons; your money has seasons. And so, I think one of the types of shame that comes up for people is, like, oh my goodness, like, my system doesn’t work anymore because my life has changed. And I’ve been calling it, like, “system shame,” but it sounds like the plan that we put together,it’s growing with you. I think you’ve had some growing pains, but it’s growing with you, and it’s allowing you to pivot and see, like, here’s how I can actually make this work. Or, yes, I didn’t think about this when I was 26 because it wasn’t something that I needed when I was 26. Like, who knew you had to buy a mattress, right? Like, that’s not something you think of when you’re 22. And, like, now, and you’re, you know,as you approach 30,you’re like, oh, people buy mattresses. Okay. So, I think all of those things make sense, and I think you’re on the right path.
Ellie: Thank you. I appreciate it.
Keina: Well, thank you, Ellie, so much for coming on my podcast. And for those of you listening, I hope that you heard something that inspired you. But most importantly, I also hope that Ellie’s conversation is, like, encouraging you in the next step,that applying to work with me is not a crazy idea,that you will still be alive several years later and still be using the plan, even with hiccups. So,thank you so much, Ellie.
Ellie: Thank you.
Outro: Thank you so much for listening to Money Files. If you’re ready to take the next step to reach your financial goals, head to www.wealthovernow.com/appointment and let’s get started.
