Money

Wealthy Mom MD with Bonnie Koo | Identify & Change Your Overspending Habit

218: Identify & Change Your Overspending Habit

218: Identify & Change Your Overspending Habit

Wealthy Mom MD with Bonnie Koo | Identify & Change Your Overspending HabitIn this episode, I’m sharing a discovery that’s transformed my life and could do the same for many of you. Recently, I faced a money habit I’d been avoiding: my spending. Despite my income growing over the past two decades, I felt like I was never truly getting ahead.

How many of us believe that earning more will automatically solve our money issues? I certainly did. I often hear from six-figure earners who think the same way. We assume we just need to cut back, but the reality is, it’s not just about spending less or staying within our means. It’s about aligning our spending with what we want to create in life.

Join me this week as I uncover the real reasons behind overspending. I’ve discussed spending habits before, but I’ve recently had deeper insights into this topic. I’ll introduce a fresh approach to evaluating whether you’re overspending and what steps to take if you've been avoiding your finances out of fear of what you might find.

Learn more about Money for Women Physicians, an exclusive money coaching program to get your money and mindset working for you.

Hey! We have just a few rooms left at our amazing group rate at the Four Seasons Oahu for the 2025 Live Wealthy Money and Wellness Conference For Women Physicians. Don't miss this chance to join us in luxurious Hawaii with incredible speakers to focus on money and living your best life. Virtual tickets are also available!

What You'll Learn from this Episode:

  • Why I avoided taking a hard look at my spending habits for so long.
  • How I’ve worked through my thoughts and feelings of shame around overspending.
  • Why spending isn’t inherently bad, as long as you’re intentional about it.
  • How to determine if you’re spending beyond your means.
  • Why shame isn’t effective in helping change an overspending habit.
  • Where the urge to overspend originates.
  • How to tackle overspending and reshape your mindset to build a more abundant future.

Listen to the Full Episode:

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Wealthy Mom MD with Bonnie Koo | Manage Time Like a Pro: How to Stay Focused in a Busy World

217: Manage Time Like a Pro: How to Stay Focused in a Busy World

217: Manage Time Like a Pro: How to Stay Focused in a Busy World

Wealthy Mom MD with Bonnie Koo | Manage Time Like a Pro: How to Stay Focused in a Busy World

After a whirlwind of travel, I’ve been reflecting on time management and maintaining focus, especially when juggling work and life on the go. I found it particularly challenging to keep up with my business, and even when I had the time, staying focused was no easy feat. This isn’t just a travel issue - many of us struggle to focus, regardless of where we are.

In today’s world, with our phones constantly demanding our attention, we’ve become a distracted generation. It’s tough to be fully present. That’s why I’m encouraging you to rethink your relationship with your phone and offering practical strategies to sharpen your focus.

In this episode, I share a powerful system to help you manage your time effectively and minimize distractions. You’ll learn how I organize my schedule, prioritize the most important tasks, and how you can do the same to make meaningful progress in your own life.

Learn more about Money for Women Physicians, an exclusive money coaching program to get your money and mindset working for you.

Hey! We have just a few rooms left at our amazing group rate at the Four Seasons Oahu for the 2025 Live Wealthy Money and Wellness Conference For Women Physicians. Don't miss this chance to join us in luxurious Hawaii with incredible speakers to focus on money and living your best life. Virtual tickets are also available!

What You'll Learn from this Episode:

  • The impact of constant phone distractions on our brain function and productivity.
  • How losing focus has affected both my business and personal life.
  • Two invaluable tools I rely on for effective time management and short-term planning.
  • The importance of prioritizing your own needs in your schedule before attending to others.
  • How to ensure every task on your to-do list aligns with a clear goal or outcome.
  • My tried-and-tested strategies for cutting out distractions and enhancing focus when it matters most.

Listen to the Full Episode:

Featured on the Show:

Get started on your journey to wealth by getting my FREE book- Defining Wealth for Women.

 

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Wealthy Mom MD with Bonnie Koo | Leveraging ChatGPT: Step-by-Step Solutions for Your Mental Load

216: Leveraging ChatGPT: Step-by-Step Solutions for Your Mental Load

216: Leveraging ChatGPT: Step-by-Step Solutions for Your Mental Load

Wealthy Mom MD with Bonnie Koo | Leveraging ChatGPT: Step-by-Step Solutions for Your Mental Load

When I first encountered ChatGPT, I was intrigued but didn’t see its full potential. That changed when I realized how effective it could be, not just in business but in managing everyday tasks. From meal planning to task management, I found the key was in how I prompted the AI.

Once I started using ChatGPT more intentionally, I streamlined tasks like meal planning by inputting my dietary preferences for tailored plans and shopping lists. It also helped me organize my schedule during busy times, making my week feel more manageable.

Tune in to learn how to use AI like ChatGPT to lighten your mental load, from meal prep to scheduling, and make the most of its free and paid versions. If you feel overwhelmed, this episode will show you how to reclaim your time and energy with a few simple prompts.

Learn more about Money for Women Physicians, an exclusive money coaching program to get your money and mindset working for you.

Hey! We have just a few rooms left at our amazing group rate at the Four Seasons Oahu for the 2025 Live Wealthy Money and Wellness Conference For Women Physicians. Don't miss this chance to join us in luxurious Hawaii with incredible speakers to focus on money and living your best life. Virtual tickets are also available!

What You'll Learn from this Episode:

  • How to effectively prompt ChatGPT for personalized solutions.
  • Ways to reduce mental load by using AI for everyday tasks, such as organizing schedules.
  • The difference between the free and paid versions of ChatGPT, and when it’s worth upgrading.
  • How to use AI to create customized meal plans and shopping lists.
  • How to use ChatGPT to plan your week, including balancing work, personal commitments, and self-care.
  • How to use AI to manage communication, especially when handling tricky emails.

Listen to the Full Episode:

Featured on the Show:

Get started on your journey to wealth by getting my FREE book- Defining Wealth for Women.

 

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Wealthy Mom MD with Bonnie Koo | Taking Control of Your Money: A Simple Starting Point

215: Taking Control of Your Money: A Simple Starting Point

215: Taking Control of Your Money: A Simple Starting Point

Wealthy Mom MD with Bonnie Koo | Taking Control of Your Money: A Simple Starting PointI didn’t always have a solid understanding of money. In fact, there was a time when I was living paycheck to paycheck, racking up debt, and not fully grasping why my money seemed to disappear so quickly. As a female physician, managing finances can feel overwhelming or even embarrassing when you haven’t taken control yet, but the truth is, it’s never too late to start.

The first step? Getting real about where you stand. Just like tracking your weight for fitness goals, you need to know your financial numbers. We’ll dive into how to create a spending plan (a term I prefer over budget), track your accounts, and understand your cash flow, all while keeping your life vision in mind.

Tune in today to learn how to take those essential first steps toward financial empowerment. I’ll walk you through practical tips like creating a spending plan, auditing your expenses, and understanding your investment accounts. We’ll also explore the mindset shifts that are key to reaching your financial goals, whether it’s building a side hustle or tackling estate planning. If you’re ready to start taking control of your money, this episode is for you.

Learn more about Money for Women Physicians, an exclusive money coaching program to get your money and mindset working for you.

Hey! We have just a few rooms left at our amazing group rate at the Four Seasons Oahu for the 2025 Live Wealthy Money and Wellness Conference For Women Physicians. Don't miss this chance to join us in luxurious Hawaii with incredible speakers to focus on money and living your best life. Virtual tickets are also available!

What You'll Learn from this Episode:

  • How to take the first step in managing your money by understanding your current financial situation.
  • How to create a spending plan that aligns with your life goals, rather than using a traditional budget.
  • Strategies to track your accounts, cash flow, and spending habits effectively.
  • How to shift your money mindset and break free from limiting financial beliefs.
  • How to grow your wealth through investments without overcommitting your time.
  • The importance of estate planning and financial adulting for long-term security.

Listen to the Full Episode:

Featured on the Show:

Get started on your journey to wealth by getting my FREE book- Defining Wealth for Women.

 

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Wealthy Mom MD with Bonnie Koo | The Power of Slowing Down: Lessons from a Month in Greece

214: The Power of Slowing Down: Lessons from a Month in Greece

214: The Power of Slowing Down: Lessons from a Month in Greece

Wealthy Mom MD with Bonnie Koo | The Power of Slowing Down: Lessons from a Month in GreeceToday, I want to talk to you about my experience in Greece and how it completely shifted my perspective on productivity and life. We spent a month living at a slower pace that made me rethink what it means to truly live and work. This wasn’t about packing in activities or sightseeing - it was about embracing a slower pace and seeing what life looks like when you allow yourself to just be.

Throughout our time there, I noticed how much we're conditioned to believe that busyness equals success. There were days when I’d sit in a café for hours, just letting the day unfold, and I’d catch myself feeling guilty for not “doing” more. But then it hit me - this slower pace was exactly what I needed. It made me appreciate the life I’ve built and opened my eyes to what I truly want moving forward.

This experience was a powerful reminder to step outside of my usual environment and reassess what really matters. We're already planning to do it again next summer, because sometimes it takes a break from the norm to gain clarity. If you’ve ever felt the pressure to constantly be productive, tune in this week as I share how slowing down and reevaluating can actually be the most rewarding thing you do for yourself.

Learn more about Money for Women Physicians, an exclusive money coaching program to get your money and mindset working for you.

Hey! We have just a few rooms left at our amazing group rate at the Four Seasons Oahu for the 2025 Live Wealthy Money and Wellness Conference For Women Physicians. Don't miss this chance to join us in luxurious Hawaii with incredible speakers to focus on money and living your best life. Virtual tickets are also available!

What You'll Learn from this Episode:

  • How embracing a slower pace can shift your perspective on productivity and success.
  • The importance of stepping out of your usual environment to gain clarity on your life’s direction.
  • Why slowing down can help you appreciate what you already have.
  • The benefits of letting go of the pressure to be constantly busy.
  • How to create a more balanced, fulfilling life by allowing yourself time to simply be.
  • Practical insights on rethinking your approach to work and life, inspired by a month-long stay in
    Greece.

Listen to the Full Episode:

Featured on the Show:

Get started on your journey to wealth by getting my FREE book- Defining Wealth for Women.

 

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Wealthy Mom MD with Bonnie Koo | Moving Smarter: Managing Costs and Adjusting to a New Life

213: Moving Smarter: Managing Costs and Adjusting to a New Life

213: Moving Smarter: Managing Costs and Adjusting to a New Life

Wealthy Mom MD with Bonnie Koo | Moving Smarter: Managing Costs and Adjusting to a New LifeWhen my family and I moved, it was more than just a change of scenery—it was a whirlwind of new challenges. We barely had time to settle in before I jetted off to Greece for five weeks. The new house felt overwhelming with its extra space and unexpected tasks like dealing with the humidity. The move wasn’t just about a new address; it was a complete shift in our lifestyle.

Moving was expensive, but my husband’s relocation allowance allowed us to hire full-service movers, which was a lifesaver. Adjusting to our new state involved dealing with different water quality, new routines, and extra sun protection.

In this episode, I share our moving experience, the financial decisions we made, and tips for navigating such a big transition. You’ll also hear about the importance of having a spending plan that aligns with your life goals. Tune in to learn about the real costs of moving, unexpected challenges, and how to keep your finances on track during major life changes.

Learn more about Money for Women Physicians, an exclusive money coaching program to get your money and mindset working for you.

Hey! We have just a few rooms left at our amazing group rate at the Four Seasons Oahu for the 2025 Live Wealthy Money and Wellness Conference For Women Physicians. Don't miss this chance to join us in luxurious Hawaii with incredible speakers to focus on money and living your best life. Virtual tickets are also available!

What You'll Learn from this Episode:

  • How to manage the real costs of moving and make smart financial decisions.
  • The benefits of hiring full-service movers for a stress-free relocation.
  • Tips for adjusting to a new home and state, from dealing with humidity to water quality.
  • The importance of creating a spending plan that aligns with your life goals.
  • Practical advice on navigating unexpected challenges in a new environment.
  • Insights into the pros and cons of renting versus owning a home.

Listen to the Full Episode:

Featured on the Show:

Get started on your journey to wealth by getting my FREE book- Defining Wealth for Women.

 

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Wealthy Mom MD with Bonnie Koo | Financial Planning for Special Needs Children with Britta Koepf

212: Financial Planning for Special Needs Children with Britta Koepf

212: Financial Planning for Special Needs Children with Britta Koepf

Wealthy Mom MD with Bonnie Koo | Financial Planning for Special Needs Children with Britta KoepfPlanning for a child is one of the most rewarding journeys, but it can also be quite the challenge, especially when that child has special needs. Financial considerations are crucial if you or someone you know is in this situation. This is what led me to my chat with Britta Koepf, a certified financial planner and special needs consultant who has dedicated her career to helping families navigate these complex waters.

In our discussion, Britta shares her expertise on the intricacies of financial and special needs planning, from setting up various types of trusts to exploring ABLE accounts. We dive into why it's so important to plan for multiple futures, given the unpredictable nature of special needs. Britta also stresses the importance of starting early and customizing plans to ensure your child can thrive without losing out on government benefits.

Tune in this week to pick up invaluable tips on securing your special needs child's future. Whether you're a parent, guardian, or know someone in this position, this episode is packed with practical advice and resources. We cover everything from understanding government benefits and insurance options to the role of financial advisors in planning for your child's long-term needs.

Learn more about Money for Women Physicians, an exclusive money coaching program to get your money and mindset working for you.

What You'll Learn from this Episode:

  • How to set up different types of trusts for special needs children and their benefits.
  • The essentials of ABLE accounts and how they compare to trusts.
  • Why it’s important to plan for multiple futures given the unpredictable nature of special needs.
  • Strategies for ensuring your child can thrive without losing out on government benefits.
  • Key considerations for incorporating government benefits and insurance options into your financial plan.
  • Advice on working with financial advisors to secure your child's long-term financial needs.

Listen to the Full Episode:

Featured on the Show:

Get started on your journey to wealth by getting my FREE book- Defining Wealth for Women.

 

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Wealthy Mom MD with Bonnie Koo | What You Need to Know About Cash Flows with Nick True, Owner of Mapped Out Money

211: What You Need to Know About Cash Flows with Nick True, Owner of Mapped Out Money

211: What You Need to Know About Cash Flows with Nick True, Owner of Mapped Out Money

This week, Wealthy Mom MD with Bonnie Koo | What You Need to Know About Cash Flows with Nick True, Owner of Mapped Out MoneyI had the pleasure of sitting down with Nick True, the founder of Mapped Out Money, to discuss the often overlooked world of cash flow management. Nick's journey into financial coaching started with a blog and YouTube channel back in 2015 where he and his wife explore the nitty-gritty of day-to-day financial planning. Unlike the often glamorized world of investing, Nick argues that mastering your cash flow is fundamental - it's the backbone that supports everything from budgeting to long-term financial security.

A common pitfall among high earners is neglecting cash flow. Nick’s approach isn't about being overly frugal, but rather about aligning spending with personal values and long-term aspirations. From the importance of tracking every dollar spent to the strategic use of some amazing tools, we discuss the transformative power of understanding where your money goes.

Tune in this week to learn how to navigate your financial journey with clarity and purpose. Discover why mastering cash flow isn't just about budgeting - it's about gaining the freedom to live the life you envision, without financial stress holding you back. Join us as we uncover practical steps to align your spending with your values, and to build a sustainable path towards your financial goals.

Learn more about Money for Women Physicians, an exclusive money coaching program to get your money and mindset working for you.

What You'll Learn from this Episode:

  • Why mastering cash flow is crucial for long-term financial security.
  • Practical strategies to track and optimize your daily spending habits.
  • How to align your financial decisions with your personal values and life goals.
  • The benefits of using tools like the You Need a Budget (YNAB) app for effective budget management.
  • Insights into common pitfalls high earners face with neglecting cash flow management.
  • How to challenge your approach to money management and start building a path towards financial freedom.

Listen to the Full Episode:

Featured on the Show:

Get started on your journey to wealth by getting my FREE book- Defining Wealth for Women.

 

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Wealthy Mom MD with Bonnie Koo | Navigating Long-Term Care Insurance with Wallis Tsai, CEO of Above Board Financial

210: Navigating Long-Term Care Insurance with Wallis Tsai, CEO of AboveBoard Financial

210: Navigating Long-Term Care Insurance with Wallis Tsai, CEO of AboveBoard Financial

Wealthy Mom MD with Bonnie Koo | Navigating Long-Term Care Insurance with Wallis Tsai, CEO of AboveBoard Financial

With many of us living longer lives, often with chronic illnesses, understanding long-term care is more crucial than ever. Wallis Tsai, the founder and CEO of AboveBoard Financial, is driven by a passion for ethical insurance practices. She transitioned from a high-powered role at Goldman Sachs to start her own independent insurance brokerage. Her mission is to provide transparent, informed guidance on long-term care insurance, a topic that can often feel overwhelming and confusing.

Wallis unpacks the evolution of the long-term care insurance industry, highlighting its tumultuous past and significant changes. She breaks down the various types of policies available today, from traditional long-term care plans to innovative hybrid policies that combine life insurance with long-term care benefits. Wallis shares her insights on industry challenges and pitfalls, like sudden premium hikes, and offers practical advice on making informed decisions.

Tune in this week to learn about the critical role long-term care insurance can play in your financial security and peace of mind. Wallis explains how AboveBoard Financial is setting a new standard with their transparent and client-focused approach. We also discuss practical tools, like cost analysis, to help you understand the expenses associated with long-term care in different regions.

Learn more about Money for Women Physicians, an exclusive money coaching program to get your money and mindset working for you.

What You'll Learn from this Episode:

  • The evolution of the long-term care insurance industry and its significant changes over the years.
  • The differences between traditional long-term care plans and innovative hybrid policies.
  • Common challenges and pitfalls in the long-term care insurance industry.
  • Practical advice on when and how to start considering long-term care insurance.
  • Tools and tips for understanding the costs associated with long-term care in different regions and making informed decisions.

Listen to the Full Episode:

Featured on the Show:

Get started on your journey to wealth by getting my FREE book- Defining Wealth for Women.

 

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Wealthy Mom MD with Bonnie Koo | Relax, Learn, Grow: Highlights from My Conference Journey

209: Relax, Learn, Grow: Highlights from My Conference Journey

209: Relax, Learn, Grow: Highlights from My Conference Journey

Wealthy Mom MD with Bonnie Koo | Relax, Learn, Grow: Highlights from My Conference JourneyI recently took a two-week trip to the Caribbean to attend several conferences, but this time, I was there solely as an attendee, which was a refreshing change from my usual role as a speaker. In fact, this new perspective allowed me to fully immerse myself in the sessions and absorb the wealth of knowledge being shared, some of which I'd like to share with you in this episode.

Throughout the trip, I participated in four unique conferences, each offering valuable insights and fresh ideas. From the Prosperous Conference by Semi-Retired MD hosts to an eye-opening discussion on AI technologies, I gained a deeper understanding of the latest trends and strategies in various fields. The location of the conferences, the speakers, and the topics we covered were all purposefully designed for relaxation and a focus on business and personal growth.

Tune in this week to learn about my key takeaways from these conferences, including the importance of staying updated with technological advancements, the benefits of attending mastermind groups, and the necessity of diversifying investments. Whether you're looking to enhance your business acumen or stay ahead in the ever-evolving tech landscape, this episode is packed with insights that will inspire and inform.

Learn more about Money for Women Physicians, an exclusive money coaching program to get your money and mindset working for you.

The 2025 Live Wealthy Money and Wellness Conference for Female Physicians is opening for registration on May 29th, 2024. Ensure you're among the first to secure your spot and save $500 by joining our waitlist now! Click here to join the waitlist and get exclusive access.

What You'll Learn from this Episode:

  • Learn about the latest advancements in AI, including practical applications for business and customer support.
  • The importance of diversifying investments beyond the stock market.
  • The value of mastermind sessions and collaborative problem-solving with other entrepreneurs.
  • How to balance professional development with personal growth.

Listen to the Full Episode:

Featured on the Show:

Get started on your journey to wealth by getting my FREE book- Defining Wealth for Women.

 

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Get started on your journey to wealth by getting my FREE book- Defining Wealth for Women.