126. Ali & the Experts Week with Shannon McLay, Founder of The Financial Gym
Ali on the Run Show
Ali Feller
4.9 • 3.7K Ratings
🗓️ 10 March 2019
⏱️ 66 minutes
🧾️ Download transcript
Summary
"Physical fitness and financial fitness are both simple. To get physically fit, we need to eat less and work out more, and to get financially fit, we need to spend less and make more. It sounds really simple, but if it were that simple, we’d have a bunch of skinny millionaires running around! There are a lot of emotions around both." —Shannon McLay
If you want to run a marathon, you hire a running coach or personal trainer. If you want to get your finances whipped into shape, you hire Shannon McLay, founder and CEO of The Financial Gym and host of the Martinis and Your Money podcast. Shannon is a former Merrill Lynch financial advisor who created The Financial Gym to help people "kick their assets into shape and their bad money habits to the curb." Her goal is to help men and women, primarily of the millennial generation, to get financially healthy. Shannon and her team at The Financial Gym have coached more than 1,400 clients and helped them turn their bank accounts, credit scores, and investments around — and on this episode, she talks about how to get started, plus how to avoid the financial comparison trap.
Thank you to Strava for sponsoring Ali & the Experts Week! CLICK HERE and use code ONTHERUN to get one month FREE with your purchase of a Strava Summit subscription.
What you’ll get on this episode:
- General money Q&A, including advice on credit cards, bank accounts, the financial comparison trap, and more (5:00)
- Budgeting 101 (22:15)
- Advice for paying off student loans (28:05)
- All about investing and saving (37:45)
- Baby and family questions (53:00)
What we mention on this episode:
Investing 101 Webinar via The Financial Gym
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Transcript
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| 0:00.0 | Allie and the Experts Week on the Allie on the Run Show is brought to you by Strava. |
| 0:08.8 | I am so excited for this episode today. Look, I'll be honest with you. I was raised by an |
| 0:14.7 | accountant father and yet at 33 years old, I feel financially illiterate. I know the basics, |
| 0:21.1 | checking savings, trying not to go into debt, save for retirement, somehow. But beyond that, |
| 0:27.6 | now. I've always avoided asking money questions because I always felt stupid. Like, this is stuff I |
| 0:33.5 | should know as an adult and assuming everyone else knows all this stuff. But here I am, admitting |
| 0:39.8 | that when it comes to finances investing in a financial future, I'm pretty lost. And based on the |
| 0:45.6 | number of questions we got for this episode, I know I'm not the only one we are all lost together. |
| 0:52.0 | That's why I am thrilled to welcome Shannon McLeay, the CEO and founder of the Financial Gym, |
| 0:57.7 | to Allie and the Experts Week. Shannon was a financial advisor at Merrill Lynch before branching |
| 1:03.0 | off to build the financial gym in New York City. It's exactly what it sounds like, a place to work |
| 1:08.1 | on your financial skills, just like you would train your body. She's built the gym to coach more |
| 1:12.9 | than 1,400 clients and has appeared alongside Hota Copy on the Today Show. No big deal. Whether you love |
| 1:19.6 | money, hate money, want money, or just want to know what to do with what money you have. Shannon's |
| 1:24.5 | here to help. So let's go. Shannon, welcome to the Allie on the Run shows Q&A week. I'm so excited. |
| 1:37.0 | We are here to talk money today. My favorite topic. Not so. Everybody's favorite topic, but it's |
| 1:44.1 | mine. Well, we're going to make it fun. Before we dive in, I would love for you. Can you tell everyone |
| 1:49.1 | just a little bit about who you are and how you're qualified to be giving all this good advice today? |
| 1:55.6 | So I am the founder and CEO of the Financial Gym. The Financial Gym is a physical location, |
| 2:02.7 | although we work with clients virtually. We actually work with clients in 47 states right now in |
| 2:06.6 | the District of Columbia, but a location where you can go to kick your assets into shape and your |
| 2:12.1 | bad money habits to the curb. It's essentially a place where you can go to get financially healthy. |
... |
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