Episode 40: Smart Habits for Managing Your Finances with Pamela Capalad

Managing finances is one area of business that all freelancers and small business owners have to deal with on a regular basis, and translators and interpreters are no exception. Owning a small business often means that you wear many hats, and, let’s face it, the role of CFO, or Chief Financial Officer, is one that a lot of us struggle with or even dread. We often hear colleagues ask questions about managing the financial side of their business and financial planning, and we’re interested in these topics too. And because the financial side of a business is so vital to get right, it’s always best to ask a professional.

So, to discuss this topic with us today, we’ve invited a special guest: Certified Financial Planner and Accredited Financial Counselor Pamela Capalad.

Pamela has been in the financial services industry since 2008. She founded Brunch & Budget to help people who felt ashamed or embarrassed about money have a safe and friendly place to talk about it and make real financial progress. Her mission is to make financial planning as affordable as possible for the communities who need it most.

She co-hosts the Brunch & Budget podcast and co-founded the Race & Wealth Podcast Network. She also runs a group financial planning program called See Change, specifically designed for People of Color. Pam has been featured in the Washington Post, Teen Vogue, Huffington Post, Vice Magazine, and other places you’ve heard of. She was named in New York Magazine’s Best of New York 2019 and has brunched with over 400 people and counting.

Here’s a summary of our conversation with Pam:

• Who she serves and what services she offers

• How Pam started Brunch & Budget and how her business evolved over time

• What her typical workday looks like and what changes she had to make due to the COVID-19 pandemic

• What mindset shifts or changes she typically sees her freelance clients go through

• What mistakes freelancers usually make when it comes to financial habits and how to avoid them

• Pam’s tips on responsible spending for freelancers, saving up for big-ticket items, and planning for retirement

• What questions freelancers should ask when they are looking for a financial planner

• How Pam protects boundaries between her work and personal life

• What other smart habits have been crucial in her career

RESOURCES WE MENTIONED IN THIS EPISODE:

• Learn more about Brunch & Budget

• Listen to the Brunch & Budget podcast and the Race & Wealth podcast

• Follow Brunch & Budget on Instagram, YouTube, and Facebook

• Take Charge of Your Finances: Pamela’s interview on the Deliberate Freelancer podcast

• Episode 18: Creating a Four-Day Work Week With Matt Baird

• Emergent Strategy: Shaping Change, Changing Worlds by Adrienne Maree Brown

Get a full list of links and resources for this episode:

https://smarthabitsfortranslators.com/podcast-episodes/40