Jan 1, 2019
Today’s guest is Adele Jackson Gibson. Adele is s a sports journalist, fitness coach, fitness model, and an athlete. She is an athlete that tells other athletes’ stories, but today she is sharing her own money memoir with us.
Adele came from a family that was financially solid. She didn’t grow up having to worry about finances and was even blessed to graduate from college with no student loans. However, that doesn’t mean that there haven’t been financial hiccups and mistakes made as she transitioned into #adulting and handling her own finances.
Today Adele will share more about her largest financial mistake. It was a simple oversight that had large consequences. She’s open with us about the impact that it made on her, as well as how changing her self-talk and money mindset is helping her overcome it.
In This Episode We Discuss:
- The importance of financial literacy when it comes to employment.
- How having an employee mindset can hurt an entrepreneur.
- The importance of your mindset and self-talk when it comes to your finances.
- How money is similar to your cardiovascular system.
Connect with Adele:
Instagram: @adelejackson26
Twitter: @AdeleJG26
Website: adelejacksongibson.com
Word(s) of the Day: W2 and 1099
You may be wondering what the difference is between W2 and 1099 let me clear it up for you a little.
A W2 employee you fill out a W4 initially is an employee that receives a W2 form at the end of the year from their employer. Your employer deducts your payroll taxes and sends them to the government for you.
On the other hand, a person receives a 1099 because he/she is a contractor. You first fill out a W9 then At the end of the year, the company provides you with a 1099 showing what they have paid you over the year. All taxes are your responsibility to pay.
One isn’t better than the other, you just need to know which applies to you so you can plan accordingly. So, if you aren’t making estimated tax payments throughout the year you are going to get hit with an unexpected bill as Adele did.
But, it is so important that you understand the difference so you can budget your finances properly. There’s nothing like an unexpected tax bill to blow your budget, steal your savings, or put you in debt.
If you have financial questions, suggestions for guests, or would like to share your own money memoir, please contact us through our website worth-listening.com.
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