Episode 13

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Published on:

24th Jun 2022

013: Holly Morphew - Twenty Percent Strategy & Eighty Percent Mindset: A Financial Impact System That Everyone Can Use

Award-winning financial coach, author and speaker Holly Morphew joins the show to discuss her incredible journey from debt to financial freedom. Holly is the author of Simple Wealth: The Practical Guide to Transform Your Relationship with Money and Live in Abundance and today she breaks down her Financial Impact System that has helped to improve the financial situations of so many.

Jonathan and Holly discuss her work in financial literacy, the importance of believing and investing in yourself and why everyone should own a business at some point in their lives.

📺 Watch on YouTube

https://youtu.be/5rvf3Y-OavA

Key Takeaways

01:06 – Holly Morphew discusses her unique upbringing and the mindset her family instilled in her around money

06:25 – ‘Discovering’ $67,000 in credit card debt

09:58 – A series of financial awakenings

13:30 – Common financial misconceptions and living in an abundance mindset

20:18 – Holly breaks down her Financial Impact System

22:58 – Creating residual income

26:04 – Defining financial independence and how it differs from retirement

31:00 – One thing listeners can do today to improve their financial wellbeing and one thing to avoid

34:05 – The importance of investing in yourself

37:27 – Why everyone should have a business

46:36 – The last thing Holly changed her mind about and one thing she wishes people knew about her

48:42 – The next big thing for Holly and where to follow and connect with her

Tweetable Quotes

“At the time, I was a member of Rotary International. And so I just went to them with this idea. I said, ‘I have an idea for a service project. What if I go to local high schools and I teach young adults about money before they graduate, and get in the real world, and start making all the mistakes that my friends and I were making.’ And they loved the idea and that’s how it began.” (03:45)

“Ultimately, what I know about myself now is I was always meant to be an entrepreneur. I was always meant to work for myself. And I always wanted to get to that kind of life, but I didn’t really know how to do it.” (10:49)

“I do think that it’s a privilege to tune out what the world is telling us. And anyone can do it; this is free. It’s your choice.” (19:21)

“Building wealth is twenty percent strategy and eighty percent mindset.” (20:51)

“The definition of financial independence is the point when the income that you receive from sources other than a job can pay for your expenses.” (27:28)

“Really, when you think about money, it is just this intangible thing that we are creating more of every day. The government is printing more of it every single day. We’ve got new cryptocurrency coins all the time. When you really start to think about money, it truly is infinite and you can call more of it into your life.” (35:17)

“That feeling of accomplishing the pillars of wealth and then getting really good at defaulting to healthier habits just takes practice. There’s no such thing as perfection when it comes to money. It’s just about doing your best. And every day is an opportunity to practice.” (46:08)

Guest Resources

Holly’s Website – https://www.financialimpact.com/

Holly’s Instagram – https://www.instagram.com/hollymorph/?hl=en

Holly’s Facebook – https://www.facebook.com/FinancialImpactSystem

Holly’s Twitter – https://twitter.com/HollyMorph

Holly’s YouTube – https://www.youtube.com/channel/UCyu44ljnKKXTrAYlEeBUmbg

Holly’s LinkedIn – https://www.linkedin.com/in/hollymorph/

Holly’s Book – https://www.amazon.com/Simple-Wealth-Practical-Transform-Relationship-ebook/dp/B08TYW2JT3

Money Date Guide – https://www.financialimpact.com/money-date-guide/

Mindful Money Resources

For all the free stuff at Mindful Money: https://mindful.money/resources

To buy Jonathan’s first book - Mindful Money: https://www.amazon.com/Mindful-Money-Practices-Financial-Increasing/dp/1608684369

To buy Jonathan’s second book – Mindful Investing: https://www.amazon.com/Mindful-Investing-Outcome-Greater-Well-Being/dp/1608688763

Subscribe to Jonathan’s Weekly Newsletter: https://courses.mindful.money/email-opt-in

Capture the most important benefit of an advisor – behavioral support – without the 1% fee: https://courses.mindful.money/membership

For more complex, one on one financial planning and investing support with Jonathan or a member of Jonathan’s team: https://www.epwealth.com/our-team/berkeley/jonathan-deyoe/

Website: https://mindful.money

Jonathan on LinkedIn: https://www.linkedin.com/in/jonathandeyoe

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About the Podcast

Mindful Money
Do you struggle with money? You’re not alone.
Money is a means, not an end. It’s a necessity of life for sure, but more money does not always guarantee a “good life”. Money enables many aspects of modern life, but as a dominant consideration it becomes destructive. 
The paradox is that more time and energy spent on personal finance does NOT create better outcomes. Unlike many other parts of life, we can’t create better outcomes by being smarter, spending more time, or putting in more effort.
Join Mindful Money author and experienced 40-year investor Jonathan DeYoe as he shares stories from artists, authors, entrepreneurs, and other advisors about how they mindfully minimize their need to think about money and get more out of life.
If you aren’t happy with your finances, feel like money takes more time that it should, or want to place your financial decisions into the broader context of your life, this show is for you. 
Each episode will draw the line between the “enough” activities that the academics tell us are additive to family outcomes, and those “little bit more” efforts that take time and sap energy, but do NOT improve outcomes.

About your host

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Jonathan DeYoe

Jonathan DeYoe is a best-selling author, speaker, financial advisor and angel investor. He is a husband, father and a practicing Buddhist. His simple underlying message brings a welcomed sense of order to financial chaos and restores a calm center to your financial life.