Personal Finance Hacks to Ensure You Eliminate Debt with CFO Kalai Bell

 

This week I was joined by my guest Kalai Bell, Virtual CFO & Business Analytics Expert!

Kalai Bell is a Virtual CFO + Business Analytics Expert and founder of Fuller Than Life where the focus is on optimizing business finances and educating people about financial literacy. Through this education, she empowers those struggling with their finances to overcome financial anxiety, pay off debts, and hit business goals. Kalai enjoys sharing the story of her past transgressions so that others will learn and change their habits before they find themselves in a situation that seems daunting.

Kalai and I discuss her journey to becoming a CFO, tips & tricks for managing your money, specific issues facing communities of color in managing their money. She also gives step by step instructions how to pay off debt FAST so make sure you have a pen and paper for this one! Kalai was also gracious enough to discuss the online tools she created for getting your financial life on track. The links to those tools are below! Lastly, if you’re feeling discouraged about where you are with your money, a financial true crime case she shares will make you feel much better about your financial situation guaranteed!


If you want to start living your life fully by engaging your mind, fueling your body, and nurturing your spirit.

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Episode Breakdown

[3:30] I would love for you to share a little about who you are and your journey in becoming a finance coach and CFO. Kalai Bell describes her journey from university through where she is now as a Virtual CFO and the founder of Fuller Than Life. She describes her own struggles with debt and how she came from financial struggles to financial freedom.

[12:50] Now, I want to ask specifically about people of color, and if you notice any similarities in the kinds of struggles or money habits for communities of color?  Kalai explains that the most consistent things she sees in communities of color are trauma around money and a culture of not talking about money.

[17:10] Kalai shares a challenge for Nadie’s followers to improve their money management.

[19:08] What’s your suggestion as a financial expert for people to start managing their money better? Kalai shares that the best place to start is to go through everything you spend money on over the last 3 months. She goes on to describe different aspects of managing your money.

[36:57] Nadie and Kalai recap the steps to managing your money, and explain what discretionary income is and ways to prioritize what you spend with the discretionary income. 

[41:08] Kalai shares about a recent episode of American Greed that looked at financial true crime, that will make you feel better about your financial struggles!

[45:25] You have different tools that can help people with their money management right? Tell me a bit about them. Kalai talks about her wealth planning tool for personal money management, the revenue planning tool for small businesses, and the debt projection payoff tool.

[48:04] Nadie and Kalai go more in-depth about Kalai’s debt projection payoff tool and how private vs. federal student loans are different.

[54:25] What are your recommendations for paying debt off? Kalai explains how important it is to list everything out and then looks at different methods that can help you pay off your debt quickly.

[1:01] What dimensions of wellness (other than financial) are most important to you? And, for people working on their financial wellness, what other areas of wellness are closely related that they should be looking at? Kalai shares that she wants to say, every area of wellness is important. But the three that stand out to her are physical, mental, and a mix between social/cultural/creative because those feel similar to her.

[1:05] Nadie and Kalai recap the steps for quick debt payoff and wrap up the episode


If you want to start living your life fully by engaging your mind, fueling your body, and nurturing your spirit.

Download a FREE Tiny Steps Checklist


 Mentioned in the episode:

Website: Fullerthanlife.com

Instagram: @Fullerthanlife

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