132 - 5 Money Mistakes that will Kill your Wealth as an Online Coach

132 - 5 Money Mistakes that will Kill your Wealth as an Online Coach

Author: Justin Green, CFP® May 2, 2024 Duration: 9:02

In this episode of the Dollars and Dumbbells podcast, host Justin Green, a Certified Financial Planner, outlines five critical money mistakes that online coaches make which can inhibit their wealth growth.

These mistakes include not separating business and personal finances, carrying high-interest debt, not paying themselves adequately, lacking an emergency fund, and failing to invest outside of their business.

The episode emphasizes the importance of financial discipline and strategic planning for online coaches aiming to build and sustain wealth.

Connect with Justin Green

⁠⁠Schedule a 1:1 Free Intro Call⁠⁠ 


---

01:00 Mistake #1: Mixing Business and Personal Finances

02:09 Mistake #2: Carrying High-Interest Debt

03:41 Mistake #3: Not Paying Yourself Enough

05:40 Mistake #4: Lack of an Emergency Fund

06:48 Mistake #5: Not Investing Outside Your Business


Justin Green, a CERTIFIED FINANCIAL PLANNER™, noticed a gap between the physical wellness online coaches promote and the financial health of their own businesses. That’s the space where Dollars and Dumbbells-Profit and Wealth Tips for Online Health and Fitness Coaches lives. This isn't just generic business advice; it's a focused conversation for creators in the health and fitness space who are ready to move from passion project to sustainable wealth. Justin, drawing from his work at Assist Financial Planning, digs into the specific money decisions coaches face. You’ll hear practical discussions on managing irregular cash flow, structuring your business finances efficiently, and making sense of investing so your profits work for the long term. The podcast unpacks often-overlooked areas like tax strategy, appropriate insurance, and even estate planning, because building a legacy is part of the goal. Through interviews and solo episodes, the content is designed to translate complex financial concepts into actionable steps. Tune in for a straightforward resource that addresses the unique intersection of personal training and personal finance, helping you build a resilient business that supports the life you want.
Author: Language: English Episodes: 100

Dollars and Dumbbells - Profit and Wealth Tips for Online Health and Fitness Coaches
Podcast Episodes
How to Build a Profitable Funnel for Online Coaches w/ Mike Crowson [not-audio_url] [/not-audio_url]

Duration: 53:29
Want to work together? I offer financial planning & investment management services. Learn more or schedule a call at https://www.assistfp.com/–In this conversation, Mike Crowson and Justin Green discuss the evolving natu…
Financial Playbooks and Why I Ended the Dollars & Dumbbells - FP1 [not-audio_url] [/not-audio_url]

Duration: 7:56
In this video, we walk why I am rebranding the podcast to Financial Playbooks and the mission behind the rebrand.What we cover:• Introducing the new format focused on solo episodes offering in-depth financial advice for…
173 - How to Build a Personal Brand as an Online Coach w/ Ali Gilbert [not-audio_url] [/not-audio_url]

Duration: 49:48
Book a 90 Minute Financial Health Consult ⁠⁠to get an actionable plan to better manage your finances.–In this episode of the Dollars and Dumbbells podcast, host Justin Green, a Certified Financial Planner™, sits down wit…
172 - The Stock Market is Crashing, What Should I do? [not-audio_url] [/not-audio_url]

Duration: 11:46
In this solo episode of the Dollars and Dumbbells podcast, host Justin Green, a Certified Financial Planner™️, talks about what is going on right now in the stock market and what it means for you as a high earning MiIlle…
171 - Building a Sustainable Coaching Business w/ Emily Carlson [not-audio_url] [/not-audio_url]

Duration: 45:24
Book a 90 Minute Financial Health Consult ⁠to get an actionable plan to better manage your finances.–In this episode of the Dollars and Dumbbells podcast, host Justin Green, a Certified Financial Planner™, sits down with…
170 - How Much Should I Reinvest into my Business? [not-audio_url] [/not-audio_url]

Duration: 10:43
In this solo episode of the Dollars and Dumbbells podcast, host Justin Green, a Certified Financial Planner™️, answers one the most popular questions he gets from online business owners:How Much Should I Reinvest into my…