Shows
Know Your Worth37: Making Tough Decisions in Business to Focus on ProfitIn this bittersweet episode, Kristen and Sydney discuss the tough yet necessary decisions we've made in business to refocus and grow.Sydney shares her decision to close Maverick, her co-working space, as well as put a pause on the Know Your Worth Podcast. Tune in to hear: An easy way to think about decision making in your business that will help you grow every timeWhy Sydney is closing a business and making several changesHow to navigate feeling like something failed when it’s no longer working for you📈 UNDERSTANDING YOUR PROFIT...2024-09-1014 minKnow Your Worth36: How to Get a Mortgage When You’re Self-EmployedLet’s be honest — figuring out how to get a mortgage when you’re self-employed is a bit more complicated than if you had a W-2 job. Lenders want to see that you have a steady income, but without a consistent paycheck, that becomes more difficult (even for super-high earners!) Sydney just bought a new home and in this episode, she’s breaking down the entire process and exactly how home buying for self-employed professions is different and what you should consider if you have owning a home on your vision board within the next 1-3 ye...2024-09-0325 minKnow Your Worth35: Healing the Scarcity Mindset with Money Management with Annie DavisHow do you break through a scarcity mindset with money when that’s been ingrained in you since childhood? Even if you had your basic needs met, if you didn’t grow up around abundance, it’s going to be so much more difficult for you to even believe that’s possible to create.In this episode, we sit down with Annie Davis, a former classroom teacher who made the transition to becoming an insurance agency owner and work-from-home mom. Annie shares her personal journey of navigating the ups and downs of money m...2024-08-2736 minKnow Your Worth34: Is Doing it All Yourself Costing You Money (& Can You Afford to Outsource) with Glam to GoWhat comes first — growing your business and then hiring or hiring so you can grow your business? For Raquel and Anika, the sisters behind Glam to Go, a successful mobile hair and makeup business, they realized they needed to outsource and delegate if they wanted to grow. They discuss their biggest financial mistake was trying to do everything themselves, from bookkeeping to scheduling clients.They share how this was costing them money and how they learned to delegate tasks and hire the right people so they could focus on their strengths and grow...2024-08-2033 minKnow Your Worth33: How to Avoid Investing in an Offer That Doesn’t Deliver Hannah from Waterloo StreetHave you ever invested in an offer that sounded amazing, only to realize it wasn't what you expected? In this episode of the Know Your Worth Podcast, Hannah Samlall, co-founder of Waterloo Street, shares the worst investment she made, and what she learned from it to avoid making that mistake again. Sydney, Kristen, and Hannah chat through the type of research you should do before investing in a coach or service provider, the most important thing to validate before you sign up, and how you can use the power of delay to buy smarter. 2024-08-1330 minKnow Your Worth32: Saving for Big Money Goals Without Sacrificing What She Cared About Most with Alysa GumtoWhen Alysa Gumto was a child, her dad was diagnosed with MS and told he could no longer work.Her family went from two incomes to one. While this might have created a mentality of lack for many people, this moment actually helped Alysa realize that she wanted to make her own money and needed to manage it well. In this episode, she shares how from just 12 years old, she started making her own money, saving it effectively, and how the choices and skills she learned during those years allowed her to graduate co...2024-08-0629 min
Telling It Like It Is with AlysaEpisode 65: Why You Need to Have Sexy Money Goals with Sydney Conway & Kristen FedeliThis week on the podcast, I have Syndey and Kristen as my guests joining me to chat all about sexy money goals. Whether you're new to managing money or a seasoned pro, this episode is packed with ideas to redefine what your sexy money goals mean to you.
Listen to my episode on the Know Your Worth Podcast
Connect with Syndey and Kristen:
Instagram handles:
@knowyourworth_pgh
@sydneylconway
@kristenfedeli
Visit My Website:
www.alysagumto.com
2024-07-0932 minKnow Your Worth31: The Psychology of Impulse and Emotional Buying Plus Strategies to Manage itAre you hiding bags and bringing them in? Is your partner mad at you because you both agreed not to spend on something and you went and did it anyways?Emotional and impulse spending always have a cost beyond the financial side of it. In this episode, Sydney and Kristen explore the psychology of emotional buying and how our spending habits affect our mental health just as much as our financial health . They explore how your childhood experiences, money scripts, cultural influences, and societal norms influence your spending habits. The duo al...2024-05-1427 minKnow Your Worth30: Mind Over Money: How to Manage Financial Anxiety and StressWhen you’re in the thick of it, learning how to manage financial anxiety can feel really overwhelming to overcome. (Or it can feel like the only solution is to win the lottery and never have to think about money again.)Financial anxiety is so common no matter your income level or skill set — it’s linked to our security and what we need to survive. In this episode, Kristen and Sydney are sharing the insights as to why the connection between mental health and finances is so strong, anecdotes about their personal...2024-05-0729 minKnow Your WorthReplay: What Every Business Owner Needs to Know About Managing and Protecting Business FinancesWhether you’re a new or established business owner, figuring out exactly what you need to know to manage and protect your business finances can make a huge difference in the success of your business.When we work with new clients at Know Your Worth bookkeeping, we see even the most established businesses missing or overlooking some key elements for how to best manage and protect their finances. In this episode, we’re breaking down exactly what you should be considering when it comes to your business finances so you can be sure you’ve set you...2024-04-3027 minKnow Your Worth29: 10 Quick Money Mantras to Uplevel Your Money MindsetKnowing your numbers is important, but so is your money mindset. Money mantras can be a simple way to reinforce what you want your relationship with money to be in this season and use it as a daily reminder that can help you take actions that align with that energy. Throughout different seasons of our lives, we can get so stuck in our current thinking, patterns, and financial situation. Tune in for 10 money mantras to create a better relationship with your money plus how to remember the money mantra you're working on2024-04-2320 minKnow Your Worth28: Top 5 Things Our Listeners Have Found Helpful to Gain Confidence with Their FinancesIf you currently feel overwhelmed with your money and business finances, it’s important to remember that money is just a skill. We didn’t all wake up one day knowing all this information about how to manage our money and business finances.That’s why, in this episode, we’re sharing the top five financial tips shared by our listeners that have helped them the most in their financial journeys as they grew their businesses. 01:22 — Why you always want to have a financial professional you can consult with 03:01 — The importance...2024-04-1617 minKnow Your Worth27: How to Tell if Your Chart of Accounts is Set Up CorrectlyWhen we start working with clients, about 25% of the time, we see errors with how they’ve set up and managed the chart of accounts in QuickBooks. The chart of accounts is the listing of accounts that you use to categorize transactions, which then turn into your financial statements. When you don’t have this set up correctly, it could look like you have more income or cash on hand than you really do, cause you to over- or under-paying taxes, and have the wrong data to base decisions on. 01:17 — What is t...2024-04-0918 minKnow Your Worth26: Seven Key Takeaways from the Female Founders Collective Build Your Empire ConferenceWondering what it’s like to be in the room of some of the most badass female founders like Elizabeth Elting, Suneera Madani, Rebecca Minkoff and Alison Wyat?The Female Founders Collective hosted a Build Your Empire Conference in New York City on Female Founder’s Day and gathered the most successful founders. Sydney attended this conference and is sharing her 7 biggest takeaways from it with you! Tune in to hear: 06:50 — Key Takeaway #1: Plan for Different Types of Exit Strategies in Your Business07:46— Key Takeaway #2: How Contracts wi...2024-04-0230 minKnow Your WorthReplay: Three Business Financial Statements You Need for a Profitable BusinessKnowing your numbers and understanding your financial statements is crucial to running a profitable and growing business.There are three financial statements that every business owner should be creating and using, or having a team member or bookkeeper create and review with them to get the full financial picture of your business. In this episode, Sydney breaks down the 3 financial statements you need to be using in your business — plus what they look like on the personal side.You’ll learn: The top 3 financial statements you need to use in your busine...2024-03-2628 minKnow Your Worth25: Why You Need to Accurately Reconcile Bank and Credit Card Accounts If You Want to ScaleWe know — reconciling bank and credit card accounts is probably the unsexiest topic we could have an episode on. But, account reconciliation is crucial if you want to scale your business, and so many business owners we see are getting it wrong. Truth be told: it’s preventing them from growing. Accurate numbers are essential for understanding your financial picture, and reconciling your bank and credit card accounts every month helps you do just that.Without proper reconciliation, you could be double-counting your expenses or excluding income — both of which can affect y...2024-03-1922 minKnow Your Worth24: Using Venmo or PayPal for Business? Here’s How to Keep Your Books CleanDo you use Paypal or Venmo for business? Maybe you’re at a trade show or working with a contractor on a one-off project, so the easiest thing that comes to mind is to pull out your phone, scan the QR code and you have an easy way to give or receive payment. But using Paypal or Venmo can create a few challenges when it comes to your bookkeeping, like not accurately reporting your income.If you’re like Kristen, you might be thinking, “jail time!”And although you won’t nece...2024-03-1216 minKnow Your Worth23: Your Business Isn't a Retirement Plan - How to Start Saving for Retirement with Alex ConwayReinvesting all of the money you earn back into your business isn’t a retirement strategy. While it can feel a lot sexier to bet on yourself and your ability to grow, it puts you at a huge risk if anything happens in your business and it’s not able to provide you the retirement fund you wanted. But saving for retirement feels daunting for a lot of business owners. When we were at 9-5 jobs, our employers would just take some money and put it into a 401K. We barely thought about it. 2024-03-0530 minKnow Your Worth22: Accrual vs. Cash Basis Accounting: Why You Can’t Scale by Looking at Your Cash BalanceIf you’re DIYing your books, you likely don’t know when to use accrual vs. cash basis accounting. This is one of the red flags we see when new clients start working with us. Most sole proprietorships, single-member LLCs, and S-corps are using cash basis accounting because it’s simple — it’s the cash you’ve collected. But if you are ready to scale your business, you need to understand and use accrual accounting, which is going to allow you to know when (and how much) you can invest in additional expe...2024-02-2718 minKnow Your Worth21: The Hidden Expenses You’re Forgetting to DeductEven though we know we *should*, we don’t always remember to (or aren’t able to) put every business expense on our business card. You might be out running an errand and pick up some office supplies and realize you only have your personal card with you. Or maybe you get more points for buying your business travel flights on your personal travel card rather than your business card. When we get new clients that have been doing their own books, we see they are forgetting or they don't know they can add transa...2024-02-2018 minKnow Your Worth20: Tax Savings Strategy: How to Calculate and Claim Your Home Office DeductionWhile you may be used to tracking your expenses, the home office deduction is a little more complicated (thanks IRS) than simply adding a line item to your books. There are several rules and limitations for a home office, how much you can write off, and how to properly claim that deduction with the IRS. If you’re self-employed or an independent contractor working from home most often and you're not leveraging the home office deduction or you’ve been adding it to your expenses but aren’t aware of the limitations, rules, and forms yo...2024-02-1316 minKnow Your Worth19: The Most Common DIY Bookkeeping Mistake: Undeposited FundsWe’ve seen it all when it comes to looking over business owners’ books, but there’s one bookkeeping mistake that we see again and again: undeposited funds.Undeposited funds is an account in QuickBooks Online, and it is an automatic account that is created if you are invoicing out of QuickBooks. If you see that account growing, it’s a big red flag. Tune into this episode to understand: 02:51 — What are undeposited funds03:29 — Why undeposited funds create issues on your financial statements05:35 — How undeposited funds happen2024-02-0615 minKnow Your Worth18: Challenges of Properly Collecting and Reporting Sales Tax as You ScaleAs your business grows, reporting sales tax gets a whole lot more complicated. From adding new types of products or services with different sales tax requirements to navigating the different sales tax laws in different states, the more your business grows, the more complex collecting and reporting sales tax becomes. In this episode, Sydney and Kristen explore what you need to know about sales tax so you understand how it evolves as your business grows and the role your bookkeeper can play in supporting you with collecting and reporting the right amount. T...2024-01-3028 minKnow Your Worth17: Identifying Your Qualitative Goals Gives Money Goals a PurposeAs entrepreneurs, we can fall into the headspace of always focusing on quantitative goals: a revenue number, a certain number of clients, or a profit margin. But we can burn out by focusing too much on those without the right motivators. By taking a look at quantitative goals, which are those goals that aren’t measurable like spending more time with your family or feeling more work/life balance, we can actually better determine what our quantitative goals need to be. You might be surprised to find that you don’t need to push...2024-01-2321 minKnow Your Worth16: How to Best Set Up Employees When Transitioning from a LLC to an S CorpAs your business grows, your tax advisor will likely recommend that you transition from an LLC to an S Corp to gain a few tax advantages once you’re at about a $50,000 profit mark for the year. When you do, you will become an official W2 employee of your company. Plus, as you’re growing at that level, you’ll likely start considering bringing on one or more full-time employees.. In this episode, Sydney and Kristen discuss this transition and what it looks like, plus some considerations you need to keep in mind f...2024-01-1619 minKnow Your Worth15: How to Best Set Up 1099 ContractorsAs the business owner, it’s your responsibility to set up 1099 contractors properly and issue them the 1099s on time. A 1099 contractor is anyone you have paid $600 or more, cumulatively, for that year. Sydney shares with us everything to know about 1099 contractors so you can onboard them properly, track what you’re paying them and issue the 1099s on time. In this episode, you’ll learn: 01:52 — What is a 1099 contractor?03:58 — Avoid this IRS red flag that can lead to an audit 07:13 — How business owners determine whether...2024-01-0924 minKnow Your Worth14: 12 Areas to Evaluate in Your Business At the Start of the New Year to See Your Financial OutlookAs business owners, the start of the New Year is an easy opportunity to reevaluate our businesses, reflecting back on what’s worked, what hasn’t, and what we’re focused on throughout the next 12 months. And that goes for your business finances too. In this episode, Sydney and Kristen dive into the 12 things every business owner should do at the start of the year to help understand their finances, evaluate their income and spending, and plot goals for the year ahead. These 12 focus areas will allow you to get a full unde...2024-01-0234 minKnow Your Worth13: Behind the Scenes: A Look at Sydney & Kristen’s Sexy Money Goals for 2024Sexy Money Goals are about what your revenue can do for your life. The end of the year is the perfect time to realign with your money values and what you envision your money doing for you in the next 12 months. In today’s episode, Sydney and Kristen share what their Sexy Money Goals are in their businesses and for their personal lives so you can see the behind-the-scenes of what they’re working on in 2024 and inspire some thoughts for what you want money to do for you in the New Year....2023-12-2629 minKnow Your Worth12: Quarterly Taxes Explained: What You Need to Know About Paying Business TaxesIf you’re a sole proprietor or have an LLC, as a business owner, it’s inevitable that you’ll find yourself googling “quarterly taxes explained.” We all get started needing to figure out how to pay them, but they cause so much confusion, and that can create a lot of anxiety — have I saved enough for my quarterly taxes? How do I pay my quarterly taxes? Am I paying too much in my quarterly taxes? In this episode, Sydney and Kristen explain exactly what you need to understand about quarterly taxes so you can feel confi...2023-12-1921 minKnow Your Worth11: What and When to Outsource in Business When You’re First StartingKnowing what and when to outsource in business is a balance between managing your revenue well while also investing in the growth of your business. As a business owner, you need to be able to recognize what’s more important for you to outsource from the very start and through each stage of the business. In this episode, Sydney and Kristen share how and what to outsource from the start of your business and the most important elements you’ll want to think about to make those decisions. 01:57 – Website06:20 – Social medi...2023-12-1231 minKnow Your Worth10: What Every Business Owner Needs to Know About Managing and Protecting Business FinancesWhether you’re a new or established business owner, figuring out exactly what you need to know to manage and protect your business finances can make a huge difference in the success of your business.When we work with new clients at Know Your Worth bookkeeping, we see even the most established businesses missing or overlooking some key elements for how to best manage and protect their finances. In this episode, we’re breaking down exactly what you should be considering when it comes to your business finances so you can be sure you’ve set...2023-12-0527 minKnow Your Worth9: How to Choose a Legal Structure for Your BusinessHow do you choose a legal structure for your business? From sole proprietorships to LLC and S Corp, there are so many options to choose from it can become overwhelming to know which legal structure for your business makes sense at every stage. (And if you’re like Kristen, you may not even remember what you got set up as initially if you’ve been in business for a few months or years!)In this episode we’re answering the question, “What is a business structure?” and breaking down each of the different ty...2023-11-2838 minKnow Your Worth8: Six Tips for Saving for Big PurchasesDo you want to save more money for big purchases during holidays and other special events? Saving is a skill that’s the foundation for any goal — whether that’s to spoil your niece on Christmas morning, to fund a luxury vacation, or reach your biggest financial goals. Sydney and Kristen go through the six steps to help you manage your finances and save for those special occasions. Learn how to strike a balance between celebrating the people you love and not going overboard with your spending during the holiday season. Whet...2023-11-2126 minKnow Your Worth7: How to Create a Budget Without Feeling Restricted or AnxiousCreating a budget can often feel restrictive, but with the right approach, it can ensure you have the freedom to spend on what you want while still being confident you can reach your money goals.Sydney helped Kristen create her budget and they share the process in this episode.Tune in to see: How to get out of feelings of anxiety around moneyHow to find the right person where you feel fully comfortable to be open about your full business and personal financial situations How to get a snapshot of your realistic sp...2023-11-1437 minKnow Your Worth6: Three Business Financial Statements You Need for a Profitable BusinessKnowing your numbers and understanding your financial statements is crucial to running a profitable and growing business.There are three financial statements that every business owner should be creating and using, or having a team member or bookkeeper create and review with them to get the full financial picture of your business. In this episode, Sydney breaks down the 3 financial statements you need to be using in your business — plus what they look like on the personal side.You’ll learn: The top 3 financial statements you need to use in you...2023-11-0728 minKnow Your Worth5: Navigating Finances with Your PartnerDo you and your partner have different outlooks on money? It can be difficult to navigate financial conversations with your partner when you come from different backgrounds and have different perspectives on how to spend, save, and invest your money. Sydney and Kristen share how each of them has navigated finances with their own partners and shed light on the challenges of getting on the same page as their partner and what’s worked well for each of them. They also highlight the importance of a budget and using tools to help...2023-10-3148 minKnow Your Worth4: Quitting Corporate (Part 2): Two Partners Quitting While Starting an IVF JourneyIn part two, Kristen shares her journey from working in education to quitting her job — and helping her husband quit his — while simultaneously taking on a major expense of IVF treatment.She also sheds light on some of the mistakes she made that she would change if she could go back and do the process again. They also discuss how to navigate “worst-case scenarios” with any Sexy Money Goals. 📈 UNDERSTANDING YOUR PROFIT AND LOSS GUIDEGet the Profit and Loss Guide ❓TAX PLANNING QUESTIONS TO ASK YOUR ACCOUNTANTGet the Tax...2023-10-2436 minKnow Your Worth3: Quitting Corporate (Part 1): From a 9 to 5 to Three BusinessesIn this two-part episode, Sydney and Kristen share their journey to achieve one of the first Sexy Money Goals entrepreneurs have — quitting their 9-to-5 jobs. In this episode, Sydney details her journey from working in the financial industry with a secure job to starting her first three businesses and being able to quit and work for herself. They discuss how Sydney's upbringing made her confident to be able to lead a business, the mindset required to take the leap into entrepreneurship, and a few of the key numbers and financial considerations that went into the plan...2023-10-1731 minKnow Your Worth2: What is Your Sexy Money Goal?When it comes to money, it can be easy to set arbitrary goals.“I want $20k months,” or “I want a $1M year.”Those are the common ones we hear from entrepreneurs. While it can be fun to hit milestones like that, reaching those goals won’t necessarily give you what you want with that money in your life. And you might be surprised to see that there are different ways to reach your biggest lifestyle goals without even reaching those numbers. In this episode, we’re breaking down what Sexy...2023-10-1016 minKnow Your Worth1: Every Goal is Achievable with the Right Plan – What to Expect from Know Your WorthEvery personal and business goal is achievable with the right plan! In the very first episode of Know Your Worth, your hosts, Sydney, money maven and owner of Know Your Worth PGH, and KYW office manager,and admittedly money-anxious best friend, Kristen Fedeli, share: 💰 How it’s possible to go from money-anxious to money-empowered with the right tools 📊 How any goal is achievable with the right plan — no matter how overwhelmed you feel or where you’re starting 🎯 Their mission to demystify finances and help you achieve your Sexy Money Goals Plus, you’ll...2023-10-0318 minKnow Your WorthJoin Us to Achieve Your Sexy Money GoalsFinancial success as an entrepreneur isn’t about a $20k month or a million-dollar year — it’s about what your revenue can do for your life. Working two days a week, buying your dream home, retiring your partner, starting a second business, or caring for your parents — those are Sexy Money Goals.On this show, Sydney Conway, Money Maven and Kristen, her dime-piece bestie and team member teach you how to think about your differently so it can work to achieve your Sexy Money Goals, not just hit a number. From understanding how to increase...2023-09-0101 min