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Marriage Kids and Money

Are you looking to improve your family's financial wellness and create a life of true wealth and happiness? The Marriage Kids and Money Podcast is dedicated to helping you do just that. Each week, Andy Hill interviews millionaire parents, couples who have reached financial independence, and financial industry experts like Jill Schlesinger, Chris Hogan, Paula Pant, JL Collins and Rachel Cruze (the daughter of Dave Ramsey). These interviews are meant to provide you with easy-to-understand information and actionable takeaways you can use to give your family the life they deserve. With over 250 episodes and counting, Marriage Kids and Money has been the recipient of multiple awards such as "Best Family Finance Content" by Plutus and has been featured in major media outlets like US News and World Report, CNBC and Kiplingers. Show topics include everything from how to pay off your mortgage early to how to help your kids become future millionaires (who are generous). Join the family wealth-building conversation by listening to this 5-star rated family empowering podcast today!
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Now displaying: Category: Entrepreneurship

Are you looking to improve your family's financial wellness and create a life of true wealth and happiness?

The Marriage, Kids and Money Podcast is dedicated to helping you do just that. Each week, Andy Hill interviews millionaire parents, couples who have reached financial independence, and financial industry experts like Chris Hogan, Paula Pant, JL Collins and Rachel Cruze (the daughter of Dave Ramsey).

These interviews are meant to provide you with easy-to-understand information and actionable takeaways you can use to give your family the life they deserve.

With over 200 episodes and counting, Marriage, Kids and Money has been nominated as “Best Podcast of the Year” and been awarded “Best Family Finance Blog” by Plutus. Show topics include everything from how to pay off your mortgage early to how to help your kids become future millionaires (who are generous).

Join the family wealth-building conversation by listening to this 5-star rated family empowering podcast today!

Aug 2, 2021

With the “Great Resignation” in full swing, Tori Dunlap shares how to we can make the decision whether to return to work or start a business.

She shares her personal experience after leaving her career to become a business owner.

RESOURCES
Tello: http://www.marriagekidsandmoney.com/tello 
Firstly: http://www.marriagekidsandmoney.com/firstly 
Her First $100k: http://www.herfirst100k.com 

Jun 21, 2021

After taking the leap from my corporate career over a year ago, I sometimes look back and wonder… Did I make a mistake? 

Did the glory of “going out on my own” and “doing my own thing” get me so excited that I didn’t think long-term enough? 

Was this change a smart move?

I share some of the disadvantages of entrepreneurship versus being an employee and I highlight some of the pros as well. 

Also, I interview Leslie & Mike Hermanson about why they decided to pay off their mortgage in their 30's.

SHOW RESOURCES

Instagram:  HTTP://www.instagram.com/andyhillmkm

 

Apr 30, 2021

As a small business owner, negative reviews can be devastating. They can deal a major blow to your confidence and, in some cases, to your bottom line.

We invited two small business owners to the show to discuss this very topic.

Wendy Hill Manson, Airbnb Superhost, and David Manson, Co-Founder of Blackrocks Brewery, discuss the impact of negative reviews on their businesses and how to deal with them. SHOW

RESOURCES

Blackrocks Brewery: https://www.blackrocksbrewery.com/

Hewitt Onion Tower (Airbnb): https://www.airbnb.com/rooms/38814530

Voicemail: http://www.marriagekidsandmoney.com/voicemail

Instagram: http://www.instagram.com/andyhillmkm

 

Apr 2, 2021

Is it better to be an employee or an entrepreneur?

Nicole has been an employee her entire adult life and Andy is diving into year 2 of being a small business owner.

They dive into the pros and cons of being an employee and the same for entrepreneurship.

SHOW RESOURCES

5 Love Languages (Book): https://amzn.to/2PTkluF

Voicemail: http://www.marriagekidsandmoney.com/voicemail

Instagram: http://www.instagram.com/andyhillmkm

Feb 20, 2021

What is your policy on doing business with family and friends?

Nicole and Andy discuss the awkward nature of working with people you know instead of people you don't know. 

It's easy to go with the 5-star rated service on Yelp, but there may be some untold benefit to support your brother, sister or cousin in their business venture. 

Is it worth it?

Please let us know by tagging us on social media @AndyHillMKM or leaving a voicemail MarriageKidsandMoney.com/Voicemail

Feb 24, 2020

Imagine being able to take your side hustle to the next level and quit your full-time job?

That’s exactly what Kelan and Brittany Kline managed to do after working on their blog for over a year. They were able to leave the shackles of their day job and go full-time with their passion project: The Savvy Couple, a blog and community that helps families organize their lives, simplify their finances and unlock the freedom to do more of the things they love.

We chat about how they get into blogging as a side hustle, how they first started making money and their future plans for their business and family.

https://youtu.be/c3vmB3_cua8



Discovering the Idea of Blogging

Kelan and Brittany both had full-time jobs before getting into blogging. Brittany was a 4th-grade teacher, while Kelan worked in law enforcement and was a jail deputy.

Kelan wasn’t too happy in his job. He was doing forced overtime, had to work on weekends and felt burnt out. Although Brittany enjoyed her job, they were working opposite hours, and so weren’t able to see each other much.

Eventually, they sat down at the dinner table and decided to make a plan. They saw how other bloggers were making a full-time income, such as Michelle Schroeder Gardner and Bobby Hoyt. They saw their blogging income reports and decided that they could do it too.

One summer, they decided to get into blogging as a side hustle. The low upfront costs meant they could get started away.

How was their financial situation at the time?

  • $40,000 in debt, most of it being Brittany’s student loan debt.
  • And a mortgage payment that made them feel it was difficult to make ends meet

Brittany is the saver in the family whereas Kelan is the spender - this creates a nice balance in their marriage.

Kelan and Brittany Kline, The Savvy CoupleBrittany, Kallie and Kelan Kline

How They Made Their First Dollar

They started blogging in the summer and treated it mostly as a passion project. They shared stories, helpful tricks and wrote about how they budgeted and stayed frugal. For the first 9 months, they would work nights and weekends to get their blog off the ground.

At the 9 month mark, a company reached out to them for a $100 sponsorship deal. Although Kelan negotiated it down to $50 (lesson learned!), they immediately knew that this was a sign that they could make money blogging.

One week later, Kelan started making a plan to quit his job. 

Related Interview: Building a Million Dollar Blog in Your 20’s – with Michelle Schroeder-Gardner

Transitioning into Blogging Full-Time 

Kelan and Brittany had one year’s salary saved up and had successfully kept their expenses low. Kelan quit his job and picked up some freelance work. He was working with VIPKid and doing some digital marketing work for a company. This meant the transition into blogging was nice and smooth. 

Brittany was 100% supportive of Kelan quitting his job. She saw how excited he got and discovered a new person in him when he stopped complaining about his job. This excitement is what encouraged her to consider quitting her job later on.

Four months into entrepreneurship, Kelan was wondering if he should focus on The Savvy Couple or on other freelance projects. He was making the same hourly rate with his blog as with his other side hustles.

His side hustles were teaching him a lot; the digital marketing work meant he could learn about SEO, Wordpress and digital marketing, essential skills for his blog. After asking for some advice and thinking about it, he decided to take the leap of faith and focus 100% on the blog. 

Related Interview: How to Make $10,000 Per Month Working From Home as a Writer – with Eric Rosenberg

How They Made $250,000 Last Year

Kelan and Brittany made a staggering $250,000 last year.

Nearly 50% of the money came through sponsorship deals. They had built an audience, an email list and a good social media following, so companies pay them to promote their products.

To many companies, it’s much cheaper to pay for ads through “micro-influencers” such as Kelan and Brittany than to pay for a TV ad or a billboard. The Savvy Couple only promotes products they use themselves. They have a reputation and are highly trusted by their audience, so they need the products to align with their brand. 

Later that year, Kelan and Brittany had a baby daughter, Kallie. That's when Brittany decided she preferred to stay at home to be able to take care of her. Also, the blog was making more money in a month than she made in a year. It was a no brainer. 

Plans for their Business, Money and Family

Thanks to booming business and efficient financial planning, the Kline family is now debt-free. They aren’t so stressed about their money, and instead are focused on building their legacy. As they say, they went from surviving to thriving. 

Their next goal is to become financially free by 35. To Brittany, financially free means not having to worry about money. To Kelan, that means being able to drawdown 4% from their portfolio every year. 

Currently, most of their money goes back into their business. Kelan takes out a salary, and they’re also able to max out their IRAs, contribute to their taxable accounts and keep their checking accounts as lean as possible. They’re also proud to say they have a Savvy Couple team, which consists of a Virtual Assistant and a freelance writer

The new challenge has been managing their time between a baby, a business and their marriage. They’re still trying to figure it out: usually, Kelan does the work during the day and Brittany does it at night. They focus on getting 4 hours of solid focused work done each per day, totaling around 20-30 hours per week.

Related Article: 26 Smart Ways for Moms and Dads to Make More Money

Advice For Others

Kelan and Brittany have some excellent advice for others. When it comes to blogging, they say it's essential you’re doing something you're passionate about. It must be something you’re willing to work on full time. This is because when it comes to blogging, you’ll be putting a lot of upfront time and effort. If you love what you do, it’ll be easier to stay motivated. 

For those who are looking to increase their blogging income, Kelan recommends to stop seeing the blog as a hobby and more as a business. Your blog needs to have a business model, and you need to treat it as a profession. Once that happens, stuff gets serious and so does the money!

Kelan and Brittany’s story is an inspiring adventure of managing finances, getting out of debt and working together to build a business that started out as a hobby. From thousands dollars in debt to making over $250,000 in a year from a business they love, it's easy to see why their blog is so successful!


CLICK “PLAY” AT THE TOP OF THE POST TO LISTEN OR subscribe (Free) and Listen ON:

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Questions?

I’d love to hear from you!

If you’d like your question featured on the show, reach out and let me know. It would be my honor to support you in your journey toward financial freedom.

Leave me a voicemail or connect with me on Instagram, Facebook or Twitter.

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"Happiness is not a matter of intensity but of balance, order, rhythm and harmony."

Thomas Merton


What do you think of becoming a micro-influencer?

Please let us know in the comments below.



Feb 4, 2020

Multi-level marketing (MLM) is a $36 billion industry, but according to AARP, 73% of people who participate in MLMs make no money or lose money.

So what’s the appeal? Why do people keep coming back with such a high failure rate?

Today, Andy talks to Melissa Blevins from the Perfection Hangover about the two MLMs she took part in to make some extra money while staying at home with the kids and how she ended up losing money.

We talk about what MLMs are all about, Melissa’s personal experiences and her current side hustle (that has become more profitable for her).

https://youtu.be/uJ-tRHXqErc



What is an MLM?

MLM stands for “multi-level marketing”, and is sometimes called network marketing or a pyramid scheme. In those schemes, it’s the company at the top that makes all the money. Someone from the top recruits someone else, and they make money by adding you to their downline. This goes on until someone gets "burnt" and decides to quit the scheme.  

Melissa first got into MLM because she wanted to work from home so she could be with her daughter. She couldn’t start a business because she had no money and no business idea. A friend then talked to her about an opportunity where she could make the big bucks selling makeup to others. And so the MLM journey started.

The important thing to keep into account here is that MLMs sell you on the lifestyle. They don’t sell you on the product. They tell you how you’ll have freedom and flexibility, and the fact that you can make it big. This is what captured Melissa’s attention, and that’s why she got recruited.

But as Melissa says, it was the worst financial mistake she ever made.

Melissa's Bad Experience with MLMs

Her first experience with an MLM was selling makeup for Mary Kay. In order to sell the makeup, you first need to buy the inventory. So she took out an unsecured loan of $2,000 and bought boxes of makeup.

After only making $300 at a party, she realized that this new venture wasn’t going anywhere. She didn’t care about makeup and she knew she had made a mistake by getting a loan. So she sold the product back to the company for a 50% discount and ended up paying off the rest of her loan on her own.

Related Interview: 14 Profitable Side Hustles Parents Can Do From Home

Her second experience with MLM was in 2014 when she moved to Illinois. She wanted to make new friends and be part of a community. She left her banking job and was staying at home with the kids. After some time she got bored and looked for ways to make an extra income to help support her family. This time, it was Beachbody Coaching. After talking to her sister, she went full-on and bought a challenge pack, a workout program, and a superfood shake.

This time, she really gave everything to the business. She did it all:

  • Post embarrassing selfies
  • Grow her social media
  • Travel with members to the Beachbody Summit

She did it all, and yet, one year later she had made a total of $0.

Why? Because everything she earned, she would put back into the company. As she says, “you have to be the product of the product”, so she was also consuming bags of Shakeology and becoming healthy and fit in order to sell others into getting a beachbody.

One year later, she realized this was also not going anywhere. She left the Beachbody community and lost the team and the community. They turned their backs on her immediately. Another lesson learned from MLMs.

However, it’s not all bad news. Melissa learned a lot from her negative experiences with her MLMs ... Stay away from anything resembling a pyramid scheme. She did eventually start her own business with a much more successful outcome. 

What Side Hustle She Transitioned Into

Melissa is now a blogger and podcaster. 

Where did it all start? In January 2018, she started writing and running a Youtube channel. She wanted to talk to women who struggled with perfectionism, who wanted to work from home and who also had been burnt out by an MLM. 

mlm side hustle

When she started the blog, she knew this time it would be different. A blog is a long game - you need to consistently create content that helps people. So she set off to create content on both her blog and Youtube - a good content mix. 

Although her first year was full of struggles and rough patches, she still managed to make $1,500 - a whole lot more than the $0 she had made with Beachbody. In 2019, she focused on SEO, Pinterest and producing high-quality content. She made a whopping $30,000!

How did she make the money? Blogging is an excellent side hustle to have because the overheads are incredibly low. In terms of income, she makes most of her money from ad revenues, affiliate marketing and a little bit of sponsored posts. It’s going so well for her that she just recently launched her podcast, and is now also going to start selling an e-course for budgeting. 

The main difference between MLM and blogging? You need a lot of capital with MLM, whereas with blogging you hardly need any. Oh, and you don’t need to sell your friends on blogging.

Why Transparency and Authenticity is important With Online Businesses

Both Andy and Melissa have online businesses. How does someone working online keep their business authentic and transparent?

Melissa explains that it’s completely normal to start a business in order to make money. She wants to help people, but she also wants to make an income. It’s tricky to see who is authentic and who isn’t in the online world since those who work in the MLM space are also influencers who use SEO and social media marketing.

Melissa says transparency starts with staying true to who you are and keeping your values. You don’t need to say "yes" to every single deal. An example: someone approached her for a link in one of her blog posts to recommend an MLM scheme and was willing to pay $1,000. She said "no" because MLM does not align with her values.

Related Interview: How to Make $10,000 Per Month Working From Home as a Writer – with Eric Rosenberg

The truth is, it’s always better to be honest and transparent and do what you truly believe in. People really can see through a mask, and as online content creators, she feels she has a responsibility to people who read her content. 

Melissa got burnt from two MLM schemes, but in the long run, she learned a lot and was eventually able to kickstart a real business online. She tells others who may be in an MLM scheme to consider stepping away and redirecting their efforts into something they are truly passionate about.


CLICK “PLAY” AT THE TOP OF THE POST TO LISTEN TO THIS INTERVIEW OR LISTEN ON:

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I truly appreciate the support everyone!

Questions?

I’d love to hear from you!

If you’d like your question featured on the show, reach out and let me know. It would be my honor to support you in your journey toward financial freedom.

Leave me a voicemail or connect with me on InstagramTwitter and Facebook.

Carpe Diem Quote

"Failure is the condiment that gives success its flavor."

Truman Capote


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Have you ever tried an MLM? What was your experience like?

Please let us know in the comments below.


mlm side hustle


Jan 9, 2020

Jon Vroman, Host of the Front Row Dads Podcast, shares the moment he realized he wasn't being the best husband and father he could be. We discuss what he did to change into the family man his wife and kids needed.

May 12, 2019

Best-Selling Author Ruth Soukup shares how she went from suicidal and depressed to a 7-figure business owner by conquering her fears. We discuss her new book, "Do it Scared".

Jan 21, 2019

Crystalee Beck is a successful writer, six-figure entrepreneur and a young mother of three. She went from unemployed to making over $100k in annual revenue by following her passion and focusing on her values. She shares her secrets to success with me.

Dec 10, 2018

As a young mother, Sarah Li Cain works part-time from her home as a professional writer. Her income recently surpassed $100,000. Here's how she's doing it.

Jul 16, 2018

Tom and Ariana Sylvester have designed a life that provides time for their businesses and their young family. We discuss how other entrepreneurs can follow their passion for their side hustle and create a well-crafted family entrepreneur life. 

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