SUMMARY
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Barbara Sloan was a homeless teen who danced for dollars and has worked in every imaginable position in the service industry. She’s familiar with and passionate about the joys and pitfalls of living for tips, and today she owns and operates a high-end construction company in Manhattan. She’s a money coach and the author of Tipped: The Life Changing Guide to Financial Freedom for Waitresses, Bartenders, Strippers, and All Other Service Industry Professionals.

Today, Jonathan and Barbara discuss working in the service industry, getting out of the debt cycle, and tips (no pun intended) for service workers to improve their personal finance situations.

TAKEAWAYS
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01:15 – Jonathan introduces today’s guest, Barbara Sloan, who joins the show to discuss tackling her mindset through mantras and working in the service industry
09:21 – Getting out of the debt cycle and what inspired her to write her book, Tipped
16:55 – The pillars of personal finance Band which chapters were the easiest and hardest to write
18:39 – The importance of recognizing social hazards
19:54 – The Jäger bottle story and having the hustle to be an entrepreneurial
27:23 – Being your own Sharon
31:59 – Overcoming the shame that is associated with being a tipped employee
38:49 – One piece of advice tipped employees should heed and one thing to absolutely ignore
43:16 – The last thing Barbara changed her mind about and one thing that he would like people to know about her
44:48 – Jonathan thanks Barbara for joining the show and let’s listeners know where to connect with her and learn more about Tipped Finance

QUOTES
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“I think my early money memories are ones that gave me a scarcity mindset. I remember losing one hundred dollars and walking up and down ten blocks to try to find it because I was so scared to go home and say that I had lost this money.” (02:55)

“I talk about this in the book. When you’re trying to work on your money mindset, I break it down into four groups that I call, ‘Freebies.’ They don’t cost any money really. It’s Charity, Gratitude Identity and Mantras. And those usually free or low cost items that you can do to improve your money mindset.” (05:29)

“I spent twenty years working two careers in tandem. So, in the day I worked in construction and at night I worked in the service industry. I like to say, ‘Dirt in the day and dirty in the evening.’” (11:27)

“It was just a lightbulb moment for me. I realized, ‘Oh, these two reasons, the lack of financial literacy and the lack of benefits, are the reasons I and all of my peers in this group were not getting ahead and building wealth.’” (14:31)

“As people who work in the service industry, we are experts at selling fun, sexy, drinks, food.” (19:09)

ABOUT MINDFUL MONEY
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Do you struggle with money? You’re not alone.
Money is a means, not an end. It’s a necessity of life for sure, but more money does not always guarantee a “good life”. Money enables many aspects of modern life, but as a dominant consideration it becomes destructive.
The paradox is that more time and energy spent on personal finance does NOT create better outcomes. Unlike many other parts of life, we can’t create better outcomes by being smarter, spending more time, or putting in more effort.
Join Mindful Money author and experienced 40-year investor Jonathan DeYoe as he shares stories from artists, authors, entrepreneurs, and other advisors about how they mindfully minimize their need to think about money and get more out of life.
If you aren’t happy with your finances, feel like money takes more time that it should, or want to place your financial decisions into the broader context of your life, this show is for you.
Each episode will draw the line between the “enough” activities that the academics tell us are additive to family outcomes, and those “little bit more” efforts that take time and sap energy, but do NOT improve outcomes.

GUEST RESOURCES
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Tipped Finance Website: https://www.tippedfinance.com/
Tipped Finance Instagram: https://www.instagram.com/tippedfinance/
Tipped Finance Facebook: https://www.facebook.com/tippedfinance
Barbara’s LinkedIn: https://www.linkedin.com/in/barbara-sloan-87860494/
Barbara’s Book: https://www.amazon.com/Tipped-financial-waitresses-bartenders-professionals/dp/B0BBQDR4FS
Barbara’s Email: barbara@tippedfinance.com

MINDFUL MONEY RESOURCES
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Jonathan’s Book – https://www.amazon.com/Mindful-Money-Practices-Financial-Increasing/dp/1608684369
Website - https://mindful.money/
Jonathan DeYoe on LinkedIn - http://linkedin.com/in/jonathandeyoe
Mindful Money on Twitter - https://twitter.com/MindfulMoney_Ed
Mindful Money on Facebook - http://facebook.com/MindfulMoneyPlan
Mindful Money on Instagram - http://instagram.com/mindfulmoneyplan
Mindful Money on YouTube - https://www.youtube.com/c/MindfulMoney🎙️
Podcast Production by FullCast: https://fullcast.co/sn