More Money Podcast - 248 The Effects of a $70k Minimum Wage Increase - Dan Price, CEO of Gravity Payments & Author of Worth It

Episode Date: October 14, 2020

I almost never slide into anyone’s DMs, but if I do…it’s to beg them to be on my podcast. So when I saw some news articles online talk about Dan Price, CEO of Gravity Payments, and the effects of the $70,000 minimum wage increase he implemented 5 years ago (a story that went viral globally!), I thought this was my chance to just ask and see what happens. And it worked! Not only that, Dan has since written a book called Worth It all about his journey of becoming an entrepreneur, going from no money to millionaire status, and then making the radical decision to cut his million-dollar salary to $70,000/year so he could increase the wages of all his staff. In this episode, we talk about his relationship with money, his experiences mingling with the 1%, income inequality, universal basic income, and what he hopes to achieve with his $70,000 minimum wage into the future. All I can say is I hope more CEOs take a page out of his book (pun intended) because people not only deserve a living wage but a wage the can make a huge difference in their overall quality of life. For full episode show notes visit https://jessicamoorhosue.com/248 Learn more about your ad choices. Visit megaphone.fm/adchoices

Hello, hello, hello, and welcome back to the Mo Money Podcast. I'm your host, Jessica Morehouse, and this is episode 248 of the show. Can't wait to share this episode with you. Wasn't even sure if I was going to get this guest on my show. It was one of those things that I did that I need to do more often where I reached out to someone that I did a lot of research on and thought he had such an amazing story. I'm like, oh man, wouldn't it be cool to have him on the show? But I doubt he'd ever, ever, ever respond to my message, but he actually did. DMing people on Twitter apparently works. So I have the amazing Dan Price on my show. So if you may recognize his name, maybe not, but let me give you a little refresh.

So he gained almost instant fame in 2015 when there's this huge media story that honestly, every media outlet was reporting on this, where he is the CEO of Gravity Payments. And he made the kind of crazy decision to raise his company's minimum wage to $70,000 per year and slashing his own wage from $1.1 million to $70,000. Not many CEOs, I mean, not many, I don't think any besides himself, have done something so kind of radical and progressive as a means to try to, hey, maybe let's see if we can A, be a better company, more productive, more ethical, and just help our employees more. And let's see if everyone is having a better situation if we raise how much we're paying our employees. Typically, companies are always about how can I

get the most ad for an employee for the least amount of money. At least that's what my experience has been at every single job I've ever had. Anyway, so I've been following this story since 2015. And then on Twitter, I saw that there's a lot more media stories coming out because it's been five years since that happened. And a lot of people, and we'll kind of talk a little bit about this in this episode, a lot of people figured that him making this kind of radical decision to slash his salary and raise the salaries of his employees was actually going to be the end of his company, that he'd run out of money, that this wouldn't work, that this is some crazy socialist kind of thing to do that wasn, it's working out. The company is even more profitable and a lot of great benefits have actually happened for the company, but also the employees, which is all to say that guess what? If people get paid a living wage, their lives improve, businesses are more profitable. It's kind of a no-brainer and it's a win-win for everybody, which is why I wanted to have Dan on the show. He also has a book that really goes into detail about his story, how he founded this company

at 19 years old while he was going to Seattle Pacific University. He was creating this business, which Gravity Pavements, I'm not sure if you're familiar, but they're a credit card processing company. So there's so many ins and outs of personal finance in Dan's story, which we kind of get into, which I know you're going to love. So he founded this company very, very young and a lot of ups and downs, which he gets more into detail in his book. But it's just a very interesting story of a CEO doing something very different and it all being very purpose-driven and then actually working out and helping a lot of people. And I feel like in this weird world we're now in, this story needs to be told. It needs to be heard because we need some change. What's been happening for so many years and just like how companies

operate, how we pay our employees. It needs to change. It's not working. It's not working. And so we talk about all that in this episode. So you're going to really, really enjoy it. I also, of course, recommend grabbing a copy of his book called Worth It. I'm going to give away a copy as well. So listen to the end of this episode to learn how you can enter to win a copy. But before I get to that interview with Dan, here's just a few words about this episode's sponsor. This episode of the Mo Money Podcast is supported by Jenny Life. Just over a year ago, my older sister had her first child. And as chaotic as becoming a new mom can be, getting life insurance to protect her family was still at the top of her to-do list. Maybe me being her sister and always talking about the importance

of life insurance, especially for women, had something to do with it. Well, now it's just gotten easier to get life insurance online thanks to Jenny Life. Jenny Life seeks to break the status quo and make it easier for women to get the protection they need for their families. For example, did you know that at one time in the United States, it was illegal for women to own a life insurance policy? Although thankfully it is now legal, a recent survey found that only 67% of women have life insurance compared to 79% of men. Not only that, women typically get half the amount of coverage compared to men, meaning women are more likely to be underinsured. This is what Jenny Life is on a mission to rectify. How it works is Jenny Life asks you five simple questions, then curates plans from

dozens of A-rated insurance carriers to provide you with a personalized, budget-friendly life insurance quote in seconds. No medical exams, no blood work. It's all online to offer you hassle-free, peace of mind policies that put your needs first. To learn more and to get your free life insurance quote today, visit JennyLife.com slash money. Once again, that's JennyLife.com slash money. Jenny Life is currently only available in the US. Welcome, Dan, to the Mo Money Podcast. I'm so excited to have you on. Jessica, thanks for having me. I'm thrilled. I'm obsessed with your books. I'm going to start telling everyone to read it. But

I was obsessed with your story when it came out. Of course, I'm based out of Canada, and you reached me in Canada with your amazing story back in 2015 when you implemented the minimum wage for your company, which I thought was so amazing. And then you popped up, I think I started following you on Twitter. And then another story about you popped up recently and it was kind of like looking back, hey, you've been doing this for a number of years, what's going on now? And it sounded like, and you kind of get this from the book, everything's going great. It's actually working. And yet still so many companies are not doing it in spite of the fact that we can prove, I mean, just to take you through some of the highlights. So the minimum wage was announced

in 2015. And since then, we've tripled in size as a company. And this was after Rush Limbaugh and many people. I mean, there were literally millions of people, I'm not exaggerating, saying that we were going to fail of it. I think that shows that it works and can work. And I think it takes away the excuse from other companies. But the purpose of it is in different details, which is we had a 10x of the numbers of babies born at the company. We had a 10x in number of first-time homeowners. We had two-thirds of the company say that they were able to pay down debt and a third say they were able to get completely debt free. We had a couple guys lose over 100 pounds. We had people saving for retirement between double and triple. And of course, what the entitled wealthy class that is looting all of us every day would like us to believe is that avocado toast is our problem. But if you basically set up

a system and a structure where you take 5% or 10% away from everybody in terms of what they can get out every few years. And I think we proved that if you basically just undo that, then we can all have the lives that everybody wants all of us to have, and they can stop getting so worked up about the avocado toast every day. I know. It's not about the avocado toast. When that came out, the avocado toast, I'm like, I've never even had that. So I don't even know. That is not the problem. I started eating it after that. Me too, actually, because everyone started offering it for brunch. I'm like, great. It may have been like a backwards avocado toast PR scheme.

Maybe it was the avocado companies that came out with that PR spin. How did you find out about my book? Just from like... From researching you and I found it on your website. Like he has a book, I'm ordering it now and it was amazing. How long did it take you to read it? Like two days. Two days? No way. Yeah. I read it real quick. I like devoured it. Yeah. Because it's not a super short book, you know, it's kind of a normal size book. No, but I found it really like it was a page turner for me.

I love a good memoir. And I didn't realize that your book was actually going to be a memoir. I thought it would maybe be a how-to. I'm like, we'll see how that. Oh, I love that it was a memoir because your life is so interesting. Were there any like particular scenes that were like the most interesting of like, oh, like when you went through this or you went through that? I'm always fascinated when people read my book, like what sticks out to them.

Well, like, I mean, just the drive that you have, like I've got drive, but when I was reading your book, I'm like, damn, this guy puts me to shame. The fact that you did a degree and we're running your business, that makes no sense to me. That makes no sense to me. Well, it was a music degree, So I don't know if that counts. Oh my God. But I mean, just the drive you had so young in high school that you start... Well, okay. The one thing that I have to ask, because when I first learned about credit card processing, I don't know what exactly that entails. But the fact that I'm like, how does one fall into the credit card processing world? And I was talking to my husband about this. I'm like, so get this, how we fell into it was like his dad was working that. And then he had a brother and like another person that he knew. Who's like, it's just so

funny that it was almost kind of like destiny, how you got into credit card processing, because how else would you fall into that weird industry that no one knows about? Well, and the big thing, the linchpin from all of that, and you're right about everything you're saying, but the linchpin of all of it was Heather. Heather was a coffee shop owner in Caldwell, Idaho. And for those of you that don't know out there, Idaho is a rural part of the United States. And I lived in a very rural part of Idaho, even out by a dump, like out past farm country in like just the wilderness. And this woman, Heather, let my band that I grew up playing in use her coffee shop as

an evening venue on Friday nights when, you know, probably they'd normally be closed or mostly empty if they were open. And it was such a game changer for us because we did these big live rock shows, but we only wanted to play those every so often in our hometown. And all of a sudden we could play these acoustic cover shows and have it not take away from our big live rock shows where we played all of our own music. And she was just everything that you love about a small business owner, quirky. She sent me something a year ago, asked me to vote for her dogs as the ugliest dogs in the world. So she's really has fun, quirks, cares about people, hires a lot of just people in general, but specifically younger people and mentors them and helps them.

But she's a bit vulnerable to being taken advantage of. And there's all these huge companies in this industry and so many industries that are predatory towards small business owners. And I'm the fourth of six kids, but I have three older brothers. So they picked on me a little growing up. And then I was a homeschool kid that went to school for the first time in seventh grade. So I was acquainted with bullying in a way that a lot of people out there are. Probably most of us are acquainted with that kind of bullying. And I didn't realize that's how the business world works. And so what motivated me when I was 17 was just trying to stand up to that bullying and help out a small business owner. And then the other thing that was cool was like, wait, I could just work with small business owners my whole life.

And I actually don't really care what I do for them. I just want to stop small business owners from being bullied. And so like, probably like 15 years later, you know, like we read in a book as a team, like you should come up with a tagline and blah, blah, blah, blah. And it was funny because like all the employees like were like, well, we basically just like stick up for the little gal guy person and like try to fight the bullies. And it was like, it was the exact same thing from when I was 17 years old, like all those years later. So it's, it's really crazy. And I think for any of you that are out there thinking about starting your own small business, make sure it's something that really matters to you really personal, because in that principle way, because you

might be stuck with it for a while. Yeah. And I think the thing that also really struck me reading your book and learning more about your story, because a lot of people may just know the headline of the, you know, you're doing something quite radical with your business and the minimum wage. But what was so interesting was just like the evolution and your relationship with money, basically, because you didn't come from wealth, but it seemed like you're pretty in tune with money management and were pretty smart with money. And you, there's points in your life where you didn't have a lot. And then there's points where you had a lot. And it was interesting to actually read how, you know, you kind of, there's some temptation and, you know, I, and I always kind of wonder that from the,

and I think a lot of people do, it's like, how would my life change if I had, you know, a lot of money? Or how would it be if I just had enough money to have a good quality of life? And, you know, what's life like when you don't have a lot? And I feel like you've kind of gone through all those stages yourself. Yeah. And I think the reason why it's confusing is because money does equal well-being, happiness, health, success in a very true sense, in the sense that depending on how much you need, if you have less than that, it is just devastating to your health, to the health of your family. And with income inequality and particularly everything getting more expensive, but wages not keeping up, like the healthy stuff has gotten more expensive, right? They say that things haven't gotten more expensive, but that's assuming that you're going for all the unhealthy, cheapest stuff with like toxins from China and trans fats and all these things.

But if you're trying to like really do the right thing and like have like a decent home and like a decent environment and all those things, it's gotten so much more expensive. And so, so we know, the vast majority of us know that more money is better. But there's not what like an economist or statistician would call non-linearity, meaning it's better, better, better, better. And I would kind of think of it almost like anything else in life. Like if you had like a really delicious like salad today today, that would be fantastic. But if you ate 10,000 of those really delicious salads, you literally might die.

I don't know, but I've never tried. But it wouldn't be as good. And so that's what's confusing to people. And that's part of why we kind of think it's okay for somebody like Jeff Bezos, who just yesterday eclipsed $200 billion of wealth, because we're like, oh, yeah, more money is better. And, you know, maybe he'll give some of it away and do something good. But we're actually creating a system where he's taking trillions of dollars away from all of us.

He's capturing a certain percentage of it with ruthless brutality and consolidating it under his control. And anyway, that's like so much deeper than like the personal finance thing of it. But I think what's important from a personal finance perspective is understanding like how much money you need

to be happy, healthy, and trying to make that number actually as low as possible so that you're not kind of like kidding yourself. A lot of people are like, oh, yeah, I need a million dollars. And it's like, you don't actually need a million dollars per year or something. You might need two or three million dollars of savings total that you build up throughout the course of your life, something like that. I think that makes sense. But understanding that there's a certain point where making the right moves to both fulfill your soul and also keep your bank account balance and your debt and all those things healthy is absolutely a good thing. And I want people to do that. And then I also want people to understand

that once you get way past that point, that money might be hurting you more than it's helping you. And I think that, unfortunately, we have a system right now where small business formation is absolute low concentration of wealth and power. So we have fewer and fewer people passing that

point right now than what we've had in the past. And so it's harder and harder to see, but like, I think we can all afford to be really realistic with ourselves there about how much money we really need to have our needs met and then figure out other things that will make you happier and healthier. And I think that's a big part of what you saw me kind of discovering in the book through a lot of mistakes and learning and twists and turns is now that money can't help me anymore, what are those other things that will?

But then, you know, that book kind of also, you know, know like you said it's a lot about me and I think what I'm learning now is to take the next step in my life it's really not about me anymore it's about what's necessary the systems the structures all those things. And that ability to let me kind of get smaller because my needs are met is a really nice thing. If we can help all of each other get there through your podcast, through what you're doing, your work, through the work that a lot of your audience and listeners are doing, then we can help imagine what are the systemic changes that are really going to set us on the right path. It seems like you've, from kind of an early time, though, always had that kind of vision. And that's also something that I really, like it really spoke to me that you always had

a big picture vision. You didn't want to just make a startup so you can, you know, increase its value so you can sell it and then have a bunch of million dollars in the bank and then go on private jets because I think you're smarter than that. And you realize that isn't sustainable and not going to make me happy for a long time. It will for a minute and then you get sick of it. Like candy. Yeah, yeah, exactly. And so I think it was really refreshing to see that you were, you know, the twists and turns in your life. You always came back to that

main kind of foundation of like, what am I doing this for? What's the greater purpose? And you're very purpose driven. And I really, really thought that was so amazing because you don't hear a lot about that when you talk to CEOs or hear, you know, what they're saying in the media. No one's talking about the deeper things, the deeper purpose of having a, you know, a company. And it's kind of interesting that it's like from a guy who runs a credit card processing company, you may not like kind of relate those two, but I think it's actually so, so actually interesting and beautiful. So. Thank you. You're welcome. Were there any like specific moments in the book that stood out to you?

Like, oh, like that was crazy. Like that was like wild. Like what would I have done in that situation? Oh, like, I mean, definitely when you were in the trial situation with your brother, I'm like, oh, wow, that's a lot. That is, I don't know how I deal with that. Do you have siblings? I do.

And we're never working together. It would not be good. I know that. Even me and my husband, I'm like, we can never working together. It would not be good. I know that even me and my husband, I'm like, we can never work together. It would just never work. It would not be a good situation. So it's, it kind of broke my heart a little bit that you had to go all through that. And, you know, it's, it's tough, but, um, I'm, I'm glad that it all worked out. And, and I mean, from what I know in the book, things have sort of worked out for the better. And you kind of were continuing on your journey of doing. And it's interesting to also read about, I really liked the stories that you did share about how when you did increase the minimum wage for your workers, how their lives have changed for the better. And I think a lot of people don't think about that. I thought it was interesting, though, hearing that some people had grievances and left because they didn't think it was right or just. And I think lots of people can relate to that. But when you think, again, at the bigger picture, it's like, don't you want everyone to

win, though? And I think some people, they are just thinking about themselves. But I worked this hard. I'm like, yeah, well, I don't know. There were two specific critiques of it that I think have some validity to it that relate to what we're talking about. One was, hey, I had to go through this. And so it's not fair if other people don't have to go through it. And also maybe I benefited from going through that tough time. So that's kind of the first one. And then the second one is, are you going to create a culture of entitlement where people don't take agency for themselves? But, you know, I think we're kind of a little obsessed with motivation sometimes, which is good. Like there's so much out there on it, but I think we're a little under obsessed with building our capability and having more, a greater sense of license, a greater sense

of freedom would be another way of saying that. And so, you know, having the resources to invest in your capability, I mean, like even like doing a podcast, right, is something that you learn so much from and, you know, you build kind of a lot of different things over the long period of time. But that first moment that you like do all the work to do it, what you get for it, it doesn't add up, but you're building, you're investing your long-term capability. Now put yourself in a situation where you have zero excess bandwidth, zero. You can't do that. You can't invest in the long-term. And so we're kind of like excusing the behavior of these huge companies

to always have short-term profits, short-term profits. And then in a way, we're being forced to go into that world where we all have to focus on short-term because things are so tight. Yeah. I think the other thing that really spoke to me too was, you know, when you shared some of the stories about beforehand, when you found out some of your employees had to have a second job to make a living, like, oh my gosh, that was me. I've always had a side hustle or a second job on top of my day job. And I mean, it worked out in the end, because then I could turn that and now I work for myself. So that worked out. But still, we shouldn't have a society where we require people to have a second job on top of their full-time job because their full-time job can't pay for their necessities. It's absolutely

ridiculous. And I see a lot, especially now with the political climate we're in, a lot of people calling for universal basic income, which I'm all for. And I think we see that that is kind of required with what's going on with the pandemic and a lot of people lost their jobs but a lot of people are also on the other side of it kind of like you said with the grievances of like well I worked really hard and so people should work you know have the same struggles as me or it will you know if I see this one all the time if we give people this universal basic income people are going to get lazy and never want to go to work I've been seeing that a lot with the benefit we have in Canada called the Canada Emergency Response

Benefit. Lots of people complaining online being like, oh, people are just staying home. I'm like, they're only getting $2,000 a month. That is literally paying for the rent and that's probably it. That's not enough to slack off at home. People want to get back to work. So what are your thoughts on that topic, universal basic income? I'm sure you've got some. I love it. The two reasons why people don't start businesses is lack of money and lack of healthcare. And if you can give people even the smallest amount of money of like what we call seed capital, it's called seed capital because you only need a tiny bit of it. If you give people seed capital, but it's not just

starting a business. It could be making a career pivot. It could be taking some time to care for somebody that needs your care. It could be taking some time to parent. It could be actually just taking some time for your mental health, which we all need from time to time. Or physical health. We've all had health emergencies, and at least there in Canada, different from the United States, you're not going to be bankrupted from your healthcare emergency. But trying to figure out how to pay the bills and all those things while you're going through that, that's a really stressful process. And so just having that little bit of seed capital for those transitions and everything, it makes so much sense. And I just think that it's something

that we need now, though. That's my only issue with universal basic income is we need it now. Like it's not this is not something for the future. Like a lot of people think about or talk about it. It's something we need right now. Yeah. And if there's ever been a time to have all these examples of why like this is right now. So I'm hopeful that something will happen. I don't know if it will. Before I let you, because I recommend everyone just take a look at your book. I have a question.

Are you still? Oh, the book's called Worth It, by the way. And I ask everybody, if you can, if you need to buy it on Amazon or on my website, you can, gravitypayments.com. Or you can follow me on social media, Twitter, Instagram, or probably my top two on LinkedIn. But if you can, buy it from a local bookstore. You know, we like to sell it through local bookstores. It might take a couple weeks to get to you if you buy it from a local bookstore. But you'll be helping a really important part of your community.

Absolutely. Absolutely. So one question I have is, are you still taking that lower income for yourself, that lower salary to make everything work for your company? I actually had to cut my pay to zero just to get us through the pandemic, but I was at 70,000 before that. And we'll see what the future holds. But I had some savings built up from before. And my net worth increased a lot in my 20s, but so far none in my 30s. And I feel happier than ever. Wow. And what is one thing that you've... Because you've dealt with a lot of crises. How are you doing with the pandemic? How's your company doing? We lost 55% of our revenue because our revenue is a function of small business revenue, but our employees came together. They did everything that they needed to. And we're

still, we still have a really long road ahead of us, but I think we're going to make it through. Oh, you're going to make it through because you've got a good heart, good employees. And yeah, I'm really thrilled for you. I've, I've written a lot about that too. So for your audience, if they want to dive deeper, but the story is pretty, pretty crazy how the employees got us through. Yeah. I think it's just, it's, it's, I don't know. I read the book. I'm like, I've never had a workplace like that. And wouldn't that be amazing if this wasn't a rarity, but something that was, you know, common. So hopefully you're the first in, you know, a big change that may take some time, but I'm hopeful for the future. I really hope so too. Thanks for having me on

your podcast, Jessica. Thanks so much for coming on. That was episode 248 with Dan Price. I also just recognized that his last name is Price. I mean, there's so many things about money with him, his name, his story, his company. It's kind of wild, don't you think? Dan Price, come on. I can't make this stuff up. I can't. I just can't. You can check out the show notes for this episode, jessicamorehouse.com slash 248. Grab a copy of his book, Worth It, on anywhere you can get a book like you suggested. Try to support your local bookstore. Grab it there. But of course, you can find out more about him and his book at gravitypayments.com. But yeah, I honestly really like the book. I read it very quickly. My husband read it. It's

just, I've never personally actually read a book that really goes into detail because it is a memoir about how does one start a business from scratch, like kind of, you know, just from your dorm and university and how do you grow it and what's that all look like on the inside? What are some things that may pop up and some things that you have to deal with? It was actually a pretty interesting kind of view into that really in depth from someone who's done it recently. This didn't happen like 50 years ago. This happened very recently. So I thought that was pretty, pretty interesting. And it's also very interesting to see what's happening with his business. I'm going to continue to follow his story as he continues because now

we're in this pandemic, which is like another hurdle to kind of go through. So, you know, since the recording, he said that he wasn't taking a salary. I'm not sure what's going on now, but I'll have to check out his Twitter, see what kind of things are going on. But basically, yeah, I think people should be paid more. I think that is pretty clear from my kind of point of view. And I can't understand anyone who doesn't really understand. Anyways, I'm not going to go into rant. I'm just saying. I hope you've taken something from this episode just to think maybe a little bit differently. Or maybe you're like, yeah, this is something that I believe in as well. So hope you like this episode. I'm going to

share some important things. Don't go away. Just have a few words to share about this episode's sponsor. Then I'm going to get right back to you. This episode of the Mo Money Podcast is supported by Jenny Life. Here's a statistic that may shock you. Not only do men have more life insurance than women, on average, they have twice as much coverage. Jenny Life is striving to shrink that gap. No matter if you're single, a working mom, expectant mom, or your kids are four-legged fur babies, if you have dependents and want to protect them, you need life insurance. And Jenny Life can help you with that. Jenny Life makes it fast and easy for women to feel confident that their families will be taken

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visit JennyLife.com slash money. Once again, that's JennyLife.com slash money. Jenny Life is currently only available in the US. Okay, let's get to the good stuff. So I'm giving away a copy of Dan's book, Worth It. I'm also giving away copies of all the books featured on season 11, this current season of the podcast. You can find all the details, all the contests at jessicamorehouse.com slash contest, or there is a link in the show notes. If you go to jessicamorehouse.com slash 248, I'm also going to include some links in the show notes. Go to my website, just check it out. So giving away a copy of Worth It. Also going to give away a copy of The Go-Giver by Bob Berg. Shannon Lee Simmons, who was on the show last week, giving away copies

of both of her books, Worry-Free Money and Living Debt-Free, and giving away a copy of Single by Choice or Chance by Jackie Porter. So again, go to jessicamorehouse.com slash contest to find all the information there. Now, not a ton to update you on. However, I do have a few things. Number one, if you want to join me for a free webinar, I'm a panelist on one that Desjardins is doing this Friday, October 16th. So yes, this episode is up. And so I can actually tell you about something that's happening soon, which is never happens ever. The kind of topic, the theme of the webinar is rebuilding for a better tomorrow. I am joined by a number of other great panelists, you know, entrepreneurs and a professor, And we're going to have a good old time talking how to build a better tomorrow. So I'm very excited. So you can find information. What's

the best place? Quite honestly, if you just check out my Facebook page, my LinkedIn page, or my Twitter account, I've definitely shared the link. It is one of those links that it's too complicated to share. So just go to my Twitter and you can find the link to that. If you're on my email list, you'll also have gotten an email this morning about that that has a clickable link. If you're not on my email list, that is where I share all this information,

all the events, any kind of exciting thing is where you can find that information just to go to jessamorehouse.com slash subscribe. Speaking of, actually, that reminds um of another contest i'm doing um and it's actually the deadline to enter is very soon by very soon i mean tonight at uh midnight eastern time so uh all you have to do is go to my instagram at jessica i morehouse is where you can find me there's like a link in the footer of my website. If you cannot find it or just search Jessica Morehouse, I'll pop right up. And the

first post that I, or I think at the point of this recording, it will either be the first post, if not the second post on my Instagram, you'll find it. It's me looking really excited out of like, cause I just got out of a float plane. Cause I went to Orillia and did a plane trip, which is crazy. And basically, I am partnering with Choice Hotels Canada, giving away 25,000 choice privileges points. All you have to do is basically comment on my Instagram post. It'll take you two seconds to do that. So just go to my Instagram. All the details on the contest is there. So do it because 25,000 choice privileges points could be the equivalent of two nights stay at a hotel. So check that out.

What else do I have to share? That's exciting. I feel like I will have so much more exciting stuff to share with you once today is over because guess what today is? Guess what today is? Today is Wednesday. Today is exam day, shared with you at the end of last week's episode that today is exam number two for the Canadian Securities course. I feel good about it, which makes me scared. Don't you know? I'm one of those people where I'm like, if I feel really anxious and like, oh my gosh, I'm going to fail, there's a good chance I'm going to pass. If I feel too confident, I get too much in my brain and then I feel like, oh, that confidence is going to turn into like cockiness and then you're going to fail because of hubris or something. I don't know. I just don't like the feeling of feeling good before an exam. Does that make any

sense? Absolutely not. Absolutely not. I've studied very hard for this. I've taken some practice tests and I passed. There's a very good chance I will pass, but I don't like being too, you know, I want to stay humble because I feel like being humble before an exam is like the secret sauce for passing. I don't know, but I am going to ask you for some good vibes. If I can be so desperate and bold, please send me some good vibes. I really want to pass because then I want to just move on with my life because I feel like, honestly, number one, I've been talking about this damn exam, this Canadian Securities course for like over two years, maybe not on the

podcast, but I have been talking about this particular course with my friends and family for like two years. I had a friend say, you're still doing that? I thought you already did this two years ago. I'm like, I'm sorry. No, I signed up for it two years ago. I just didn't do it. I just want to move on with my life because there's other courses that I want to do after this. Oh my gosh. There's so many courses to become a CFP. But I'm just like, you know what? We're in a pandemic. Like what else am I going to do? I need something to keep me going, to work towards, to feel that like feeling of achievement. And so that's why I'm putting myself through this personal torture. But I have other exciting things that I'm going to let myself, I'm going to take a

breather before signing up for another course. I'll tell you that right now. Like, you know, I have plans to update my investing foundations for Kings course. So feel free to sign up for that. I'm going to do some updates because I've learned so much that I want to integrate into this course, just like zhuzh it up a little bit. I also have that DIY passive investing for Canadians course that I've been talking about forever and it still is not done. Going to finish that up. The goal is to have it ready and out the door before Christmas. That is the goal. What else do I have on my goals list? No, those are kind of the three things. Those were my goals for 2019. I know we're in 2020, but I'm finally getting them done this year. And then

I'll get to reassess and see what do I want to do? What do I want to do? What are the next goals? Like, what do we want to do? Not sure. I'm excited. I think also one thing that I will have more information about soon is doing another live Fix Your Finances Masterclass. So did one in the summer. I actually just last week had a little reunion call with my students to see how they were after like finishing the course a month later, how you do, what's your progress. And so I've always kind of wanted to do another round with a new group of students come November. So I'm going to let you know about that when I am good and ready and when it's ready to go. So I'll let you know very, very soon. I feel like that's really it for me, probably.

So follow me on Instagram at Jessica I. Morehouse. And yeah, that's it. I've got some amazing guests coming up on the show and, but still, I still have a few slots, um, that I have to fill up with guests. So I'm going to actually been getting some great messages, emails, DMS from people being like, can you do an episode on this? Um, so give, let me know what you want and I'll, I'll do my best to get a guest that fits that topic or a question or a theme or whatever you want. Okay, that is it for me. Talked long enough, haven't I? Thanks for listening. I will be back here next Wednesday with a fresh new episode of the Mo Money Podcast. I will see you very soon.

Have a good rest of your week. this podcast is distributed by the women in media podcast network find out more at women in media.network