043: Kim Trathen – Money Mindset & Our Relationship

Kim Trathen is a business, money, and mindset coach, three things that are foundational to the process of building wealth and creating financial independence for our families. Her favorite topic is how our thoughts about money shape our ability to make more money.

Today, Kim joins the show to share how her own relationship with money was forged, what inspired her to become an entrepreneur, and why she is so passionate about helping female founders.

📺 Watch on YouTube

https://youtu.be/f8VPekrW4z0

Key Takeaways

00:59 – Jonathan introduces today’s guest, Kim Trathen, who joins the share her philosophy on money, what it means to have a healthy relationship with money, and the importance of awareness

09:33 – What inspired Kim to start her own business

13:39 – A passion for helping women and the difference between a consultant and a coach

20:08 – The importance of entrepreneurship in the journey to financial independence

28:35 – Kim speaks to some of the more common ‘mainstream’ money beliefs

32:36 – One piece of financial advice to focus on and one thing to absolutely avoid

35:17 – The last thing Kim changed her mind about and the one question she would like to know the answer to

36:28 – Jonathan thanks Kim for joining the show today and lets listeners know where to connect with her

Tweetable Quotes

“Saving is such an important part of being financially healthy, but I took it to an extreme where I actually made us live like we were poor. And we would sock everything away so that I wouldn’t see it, because I had this deep perception that I might turn into a nasty person if I had access to all of this money.” (04:43) (Kim)

“I think, as so often happens with things, whatever is the negative that is going on seems to have the stronger influence on the brain. It’s not too surprising that I came out with that unhealthy relationship with money because that was the negative piece that my brain hung onto. As our brains process information, we all absorb it differently, and it impacts us differently. It wasn’t until I was well into adulthood that I started recognizing that maybe that’s not the healthiest approach that I have.” (08:03) (Kim)

“When I first sat down I had a divine inspiration one night that I really didn’t want to work foranybody else. I wanted to be an entrepreneur. I wanted to have that freedom lifestyle. I wantedto be able to make choices about how I spend my time, who I spend my time with, things likethat. So, I knew I wanted to be an entrepreneur.”(13:45) (Kim)

“Some people will ask what’s the difference between a coach and consultant. My personaldefinition is that a consultant will come in and tell you how to do something. So, if you hire aSales consultant, they will come in and tell you how to do your Sales; they will train your people.A Marketing consultant may write your entire Marketing Plan for you. I view my role as a coachis to help my clients make the best decisions for their business.”(14:52) (Kim)

“Not only are fewer women being given funding for their businesses when they apply, they also receive less funding than their male counterparts. But far fewer women, even today, are even applying for funding.” (21:47) (Kim)

“I always tell my clients, ‘Every belief and behavior gives you every result.’ Everything you believe leads to what you do. And that’s what gives you every result in your life in business. Those beliefs from society are just deep within each and every one of us, and it takes intention to start untangling some of those.” (28:17) (Kim)

“I heard this quote once upon a time. ‘If you talk to your friends the way you talk to yourself you probably wouldn’t have any.’” (35:00) (Kim)