Exploring Money Memories: From Bear to Bull with Ilona

Posted on by joneytalks

“Who is Going to Care More About Your Money Than You?”

In today’s episode, we will speak to my friend Ilona from The Money Memories Podcast.

Ilona’s cool podcast is about having her guests share their impactful money memories and reflect on them. We met through a personal finance Facebook group and after we chatted, I thought well, Ilona why don’t you come here to tell us about YOUR money memories!

#memories #moneymemories
What do your memories tell you about your relationship to money?

Ilona’s money memories will take us from a mathematical error at the bank, her frugal upbringing and approach to money to her realizing that “hey, I need to start making a plan with my money”!

Listen here:

Watch here:

…or listen on Apple Podcasts

This episode is for you if you feel your money story is unique and that others might not understand where you come from. (Spoiler alert: it is not that unique).

Key Takeaways:

  • What is your first money memory? 
    • I would recommend you try to dig into your early money memories. It can help you to find out how your relationship with money came to be. Your early money memories will explain a lot about how you think about money today.
    • For Ilona: Money is just math and she has always been frugal.
  • Stick your head out of the sand:
    • You can be frugal and save money, but at some point, you need to make a plan with your money.
    • Map an investing plan (inflation vs high yield savings account rate)
  • Money issues are universal: Everyone feels as if they are the only one but someone may relate to your money story as well.
  • Quick actionable tips to get started with your money: 
    • Log into your accounts NOW (and retrieve your passwords if necessary 😅), have the overview of your balances (for the US: you can use Personal Capital). I repeat this can be done NOW.
    • Map out your financial goals and build your plan.
  • Her dad’s quote: “Who’s going to take care more about your money than you?”

Who is Ilona?

Ilona is the host of the NPR-distributed podcast “Money Memories,” whose goal is to remove the taboo around money conversations by having guests share their personal money reflections. Ilona has spent her career working in financial services on Wall Street and Silicon Valley and is a graduate of the Wharton School and Kellogg School of Management at Northwestern University. She is also a contributing fintech writer for Forbes. Ilona is half Cuban and half Russian and was raised in the United States.
Ilona #moneymeories #podcast #bearandthebull
Ilona

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