bite-sized financial literacy, ideas, & education

You’ve read the books. You’ve put in the reps. You know your stuff.

So… why does it still feel like you’re not quite there yet?

Imposter syndrome doesn’t always come from inexperience —

Sometimes it grows the deeper we go.

In this clip, we talk about the quiet ways self-doubt shows up, especially for people in fields where expertise is expected. And why, most of the time, the people you’re worried about impressing already think you’re the expert. It’s not about dumbing things down—it’s about bridging the gap in a way that actually connects.

Ever feel like you’re doing “okay” with money—but not really getting ahead?

You’re not alone. Most people manage their finances decently… but that’s only part of the equation.

If you want to really grow your wealth and gain the freedom to enjoy your life—you need more than just good habits, you need a plan.

Here’s why strategic financial planning makes all the difference:

✅ Custom Systems:

Smart spending, saving, and investing—built around your life. Not some cookie-cutter advice.

✅ Clarity on Big Decisions

Career moves. Home purchases. Starting a business. A real plan helps you weigh the true costs and benefits—so you can move forward with confidence.

✅ Growth with Peace of Mind:

It’s not just about building wealth—it’s about protecting it, and keeping your values front and center.

The truth? You don’t have to figure this all out alone. Our clients get a simple roadmap that’s designed to help them thrive—without adding more stress to their already full plates.

Most businesses don’t fail because they’re unprofitable.

They fail because they didn’t plan for a rainy day.

💥 Emergencies don’t send calendar invites.

And if you’re scrambling when a crisis hits, it’s already too late.

Here’s how to get ahead of the unexpected:

✅ Build an Emergency Fund

Set aside 3–6 months of expenses in an account you can tap quickly. It’s the cushion that can keep your business open when others are shutting down.

✅ Create a Worst-Case Budget

This stripped-down version of your finances helps you cut to the essentials—before panic sets in.

✅ Plan Now, Not Later

You don’t want to build your lifeboat in the middle of the storm. Do it when skies are clear.

🎯 Bottom line?

Be proactive, not reactive. That’s how you protect your family, your business, and your peace of mind.

📹 Watch the video to learn how to build a financial plan that’s ready for anything—and why the best leaders plan before they need to.

👉🏼 Not every client is the right fit 👈🏼

As a financial planner, this advice is really hard to follow.

"But I need the revenue..."

"But they need help..."

"But they're a friend/family/friend-of-a-friend..."

Got it. But what if the roles were reversed? What if you knew that they could help you, but it would come at great cost to their operational efficiency? Or time? Or what if, despite their best intentions to WANT to help you, you knew there were others better-suited to understand the nuances of your situation?

Would you rather them take you on? ...or refer you?

I hear ya... "Execution trumps talent!" Sure. But what does that "execution" cost you?

Sometimes it's better to find your lane, know your lane, and stay in it -- and out of others'!

So find the people who truly value what you offer, need it, and are willing to pay for it.

Want to grow your income without working more hours? As a small business owner, you have more control over your income than most people—but it’s not just about hustling harder. It’s about working smarter.

Here are some powerful strategies to increase your income:

💡 Explore New Revenue Streams: Look at your current products or services and see if you can add value with complementary offers, upsells, or bundles. Increasing your average transaction size is one of the easiest ways to grow revenue.

💡 Pivot to Serve New Needs: Is there an emerging need in your market that aligns with your expertise? Expanding your offerings strategically lets you reach new customers without reinventing your business.

💡 Leverage Leadership: Delegate tasks that don’t require your direct involvement so you can focus on high-impact activities like strategic planning, networking, and scaling.

💡 Review Your Pricing: Are you undervaluing your services? A slight price adjustment could significantly impact your bottom line without adding more clients or working more hours.

The key isn’t just working harder—it’s working smarter by strategically growing your business.

Underpricing is a silent business killer. If you never raise your rates, you're cutting yourself short. Here’s why (and how) to price with confidence.

Ever wonder where all your money goes?

If you feel like your paycheck disappears as soon as it hits your bank account, it’s time to get real about your cash flow.

Your cash flow is made up of two things:

1️⃣ money coming in
2️⃣ money going out

If you’re overspending or just breaking even every month, that’s a sign something needs to change. Here are a few key ideas:

🔑 create surplus cash flow by cutting back on non-essential purchases
🔑 consider making small reductions across several categories rather than cutting out big things out entirely.
🔑 make small adjustments overtime to avoid feeling like you’re sacrificing everything you enjoy.

Once you’ve freed up some cash, you can direct it toward saving and investing. That’s how you grow wealth—not just by earning more, but by managing what you already have wisely.

Worry is natural. But it's also expensive. Trust me, I’m a pro at it.

We already know we can’t control everything. But as a business owner, there are certain things you can control that most other folks can't -- and some of them truly move the needle.

Too many business owners waste energy stressing over:

🚨 Inflation and rising costs

🚨 The economy slowing down

🚨 A major client suddenly leaving

But here’s the truth: You don’t have to be at the mercy of these things. Instead, focus on what’s within your control:

✅ Adjust your pricing and expenses strategically.

✅ Build a cash reserve so your business stays strong, no matter what.

✅ Diversify your revenue streams to create stability and resilience.

By taking ownership of what you can control, you create a business that thrives in any economy. No more panic. No more knee-jerk reactions. Just smart, strategic moves that set you up for long-term success.

Like a wingsuit jumper who doesn't know how to fly...

That's how I felt when I made my first budget.

Falling from the sky, not really sure what to do next, the ground representing "running out of money til my next payday" was rapidly approaching.

If that's you, take heart - you're not alone. :)

Ever feel like you’re just winging it when it comes to your personal finances? You’re not alone. Most of us never had formal education on managing money. Even a business or finance degree doesn’t necessarily teach you how to budget, save, or invest for your personal life.

So where do we learn it? Usually from what we saw growing up. But if your parents struggled with money, you might have picked up some not-so-helpful habits, too.

The next stop for many people is Google, but that opens up a new problem: information overload. It’s like trying to drink from a fire hose—there’s so much conflicting advice out there.

Even when you find good information, you still need the wisdom to apply it to your unique situation. That’s why managing money isn’t just about facts; it’s about frameworks and systems that actually work for you.

Want to learn more about how to take control of your finances?

Another clip from my interview with Giuseppe Tulino on his upcoming podcast.

Many business owners reinvest everything back into their business. But at what cost? Here’s why you need to start paying yourself sooner.

What happens if you're unconscious and no one can move money in your business?

This video explores a real risk that most entrepreneurs ignore:

➡️ No financial power of attorney
➡️ No delegated access to banking or payroll
➡️ No backup plan for emergency decision-making

It’s not just a legal form—it’s business continuity.

If you’re the bottleneck for all financial approvals, this story highlights a blind spot many business owners overlook.

⁠

✅ Subscribe for more real-world financial planning insights
✅ Book a free consult (link in description)
✅ Comment below: Do YOU have a contingency plan?

You’re not alone if you run your company by tracking revenue and your bank balance… but what about your profits?

Here’s a common mistake: thinking profit is just about what’s left over after expenses. But this means the only way to make a profit is to sell more—what about just operating better? Controlling expenses is critical to having a profitable business.

And there are actually four major areas of profit you need to focus on:

🏠Lifestyle: If your business isn’t supporting the life you want, you need to make some changes—either to your lifestyle expectations or your business operations. Ignoring this only compounds stress.

🚨Emergency Fund: This is non-negotiable. You need 3-6 months of business and personal expenses set aside and untouched in its own bank account. Failing to do this often results in going into debt during an emergency.

📈Growth Plan: Reinvesting profits is great, but to what end? Give your saved-profit dollars a job in the long-term growth plan of your company.

⛱️Retirement Plan: About 1% of small businesses fully fund their owner’s retirement. Selling your business may not get you the money you need to retire as you expect. But a small savings habit started now can change that—especially with the tax benefits of qualified plans.

➡️ Watch the full video to learn how focusing on these four profit areas can transform your business and financial future!

1 of 9 – Nick Garofalo on the GrowYours Podcast

💡 Why did I start Open Handed Wealth? I’ve seen firsthand how hard business owners work to build something meaningful. My mission is to help them create a strategy to reach their goals.

What’s the difference between habits and systems? One keeps you stuck. The other sets you free.

A lot of business owners think they have systems just because tasks get done. But if your business relies on people remembering how to do things, you don’t have systems—you have habits. And habits don’t scale.

To grow efficiently and sustainably, you need well-documented, repeatable systems. This means getting serious about process design. Consider becoming a SCRUM master, hiring a process consultant, or bringing in an SHRM expert to craft compliant and thorough documentation for all roles and responsibilities.

From onboarding new hires to managing client interactions, systems ensure consistency, reduce errors, and free you from being the bottleneck. Don’t just hope for the best—build for it.

➡️ Watch the full video to learn how building the right systems can transform your business!

Are you running your business by looking in the rearview mirror? Most business owners rely on historical data—last month’s revenue, last quarter’s expenses, last year’s growth. But here’s the problem: that’s backward-looking.

You don’t drive by looking behind you, so why would you run your business that way?

To grow and scale, you need a future-looking dashboard that helps you make decisions based on predictions, not just historics. The best dashboards answer three crucial questions:

1. 📍How are you doing?

2. 📈Is it good or bad?

3. 🧭What can you do about it? (By the way, don’t take my word for it—I got those questions straight from the International Business Communications Standards.)

By monitoring leading indicators instead of just lagging metrics, you can spot trends, make proactive decisions, and steer your business with confidence. No more reacting. Instead, you can anticipate

Here’s some tough love: If your business can’t run without you, you don’t own a business—you own a job. And that’s a major problem when it comes to scaling or selling.

The hard truth is, buyers don’t always want you—they want your cash flow, systems, and people. That’s why becoming operationally irrelevant is so important. But this isn’t about checking out. It’s about mastering the art of delegation and procedure design.

The biggest mistake most business owners make? They don’t delegate—they abdicate. They throw tasks at people and hope for the best. Instead, you need to “Expect, Inspect, and Accept”—or, when necessary, reset expectations.

By learning to delegate effectively, you create a business that thrives without you. And that means more freedom, less stress, and a higher enterprise value.

You don’t have to live strapped to your own business. Want to learn how to make it happen? Let’s talk!

Do your employees know what it means to live out your company’s core values? Or is it just something on a poster in the break room?

As your business grows, the need for crystal clear vision, mission, and core values becomes critical. It’s not just about catchy slogans. It’s about defining who you are and what you stand for. Without this clarity, you’ll end up facing culture clashes, confusion, and stagnation.

Your team needs to understand when they’re “above the line” (taking responsibility, being honest, and showing integrity) and when they’re “below the line” so they can course-correct.

When your vision and values are clear, decisions get easier, accountability improves, and you build a culture that fuels growth.

Don’t just grow—grow with purpose.

Have you noticed how complex financial life has become? In some ways, we’re doing it to ourselves—thinking complexity equals sophistication.

Here’s the truth: Simplicity often works best.

✔️ Don’t chase products you don’t understand—or need. ✔️ Avoid jumping into risky investments without a solid plan. ✔️ Focus on building one great income stream before worrying about seven!

Many business owners I work with feel overwhelmed by layers of insurance, investments, reports, and P&Ls. All that complexity wastes time, creates headaches, and distracts them from what they do best—earning!

Your energy is best spent building your primary income stream. Simplicity isn’t just easier—it’s more effective.

Why does it seem like people who focus only on money are never satisfied?

King Solomon observed this truth thousands of years ago, and it’s still relevant today: “Whoever loves money never has enough; whoever loves wealth is never satisfied with their income” (Ecclesiastes 5:10).

But what if there’s a better way? The happiest and most successful people don’t just chase money—they use it as a tool to support their passions and purpose.

How can you let money work for you without letting it control your life? Let’s talk about a mindset shift that could change how you see wealth—and success.

Did you hear about the guy who put all his eggs in one basket?

Turns out he’s not very good at carrying baskets.

Luckily, in investing, concentrating your eggs in one basket may sometimes be a good idea—if you carefully manage the risk and bring in expertise to help mitigate your blind spots.

And I know - this goes against “Traditional Financial Advice” which CLEARLY says never to have more than 10% of your wealth in one asset. (And to be clear, I DON’T disagree with this!) It’s just … while that’s great advice for preserving wealth, ask any wealthy person how they got where they are and the answer is often concentration.

Concentrating your time, energy, and money on one big opportunity can build wealth—but it’s risky. If things don’t go as planned, the consequences can be significant. Here’s how to manage it:

✔️ Be confident in your decision.

✔️ Have a plan to protect yourself if things go wrong.

Concentration builds wealth. Diversification preserves it. The key to success is knowing when to shift focus from one to the other.

Why did the balloon refuse a promotion?

Because it was worried about lifestyle inflation!

Terrible intro, I know. I’m sorry. But lifestyle inflation is a real problem that many people face.

It happens when income grows, but expenses grow even faster—think a bigger house, luxury car, or private school tuition.

But what happens when income drops? People stuck in this cycle often face hard choices, like selling their home or downsizing their lifestyle.

Here’s how to avoid it:

✔️ Give yourself a cushion.

✔️ Delay big purchases by a year or two, even as your income grows.

A little patience today can protect your future and keep you from being caught off guard. Don’t let lifestyle inflation hold you back from financial freedom.

Have you ever wondered if your investments could effect Kingdom change around the world?

Imagine funding:
✔️ A little girl receiving life-saving medicine.
✔️ A village gaining access to clean water.
✔️ Breakthroughs in healthcare bringing hope to families battling Alzheimer’s.

These are real examples of how businesses can make a difference when they prioritize human flourishing. But have you ever considered where your investments are going? Do they align with your values?

Faith-based investing allows you to be intentional with your wealth while seeking to make an impact.

It may come as a surprise, but there’s not always a connection between wealth and financial knowledge.

Earning more doesn’t automatically mean you’re great with money—it just means you have more of it. Financial success takes more than earning—it takes learning. Most of us didn’t learn this in school, and it’s not all common sense.

Here’s how to grow your financial knowledge:

✔️ Read books, listen to podcasts, or take courses.

✔️ Explore free resources like videos or articles on my website.

✔️ Work with someone who can bridge the gaps and guide you year after year.

Even with professional help, staying engaged is key. A good advisor is your thinking partner, not just a decision-maker. Seeking guidance isn’t a weakness—it’s wisdom. Build on what you’ve achieved to create an even stronger future.

Do you ever feel stuck in your relationship with money—saving too much or spending too much?

For many, these habits stem from how they grew up. Some were taught to save every penny; others were encouraged to enjoy their money as it came. But here’s the truth: neither extreme reflects true financial stewardship.

Scripture offers a better way—the way of the servant. When we see ourselves as managers, not owners, everything shifts. The goal isn’t to hoard or spend recklessly—it’s to manage money wisely and with purpose.

This famous writer lost his fortune thanks to one financial mistake.

He poured his wealth into a single invention that promised to revolutionize publishing. But when the machine failed, so did his investment—and his finances.

Wealth can disappear faster than you think. Whether it’s a failed investment, business setback, or unexpected liability, protecting your wealth is just as important as building it.

Here are three ways to safeguard your finances:

✔️ Insurance: Auto, homeowners, and umbrella liability policies protect against major losses.

✔️ Entity Structures: Business owners can use LLCs to shield personal assets from risks.

✔️ Diversify: Avoid putting all your eggs in one financial basket.

Oh, and the writer? Mark Twain. Be prepared for the unexpected, so you can keep what you’ve worked so hard to build.

If you’re a high-income earner or have significant net worth, there’s one piece of financial planning that could deliver the biggest bang for your buck: Tax planning.

While market performance is unpredictable, tax planning is something you can control—and it could save you tens of thousands of dollars every year.

Here are some strategies to consider:

✔️ Retirement accounts: Maximize pre-tax savings when applicable.

✔️ QBID planning: Evaluate your eligibility for the 20% qualified business income deduction.

✔️ Entity selection: Assess whether your business structure is optimized for tax efficiency.

✔️ PTET: Explore options for working around the $10,000 SALT deduction limit.

Tax planning can be one of the most impactful ways to keep more of the wealth you’ve worked so hard to build. Consider speaking with a professional to explore what strategies might work best for you.

Did you know you make 35,000 decisions every day? Poor sleep makes them harder, and your lightbulbs might be to blame!

Bright lights after sunset—like phones, TVs, and overhead fixtures—delay melatonin production, tricking your brain into thinking it’s still daytime.

Tonight, dim the lights, turn off devices, or read by candlelight. Better sleep means better decisions tomorrow!

Hiring your kids can do more than save taxes—it can set them up for financial independence. 💡Imagine this:

• By age 18, your child could save over $150K.

• By retirement, those savings could grow to $3.75M, with half of it completely tax-free.This is the power of hiring your kids the right way.

Want to learn how to leave a lasting impact? Let’s connect.

Proverbs 13:11 says, “Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.”

How do we apply this wisdom? By building equity—here’s how:

1️⃣ De-operationalize Yourself: Create systems and train leaders so your business thrives without you at the center. This adds enterprise value and frees you to work on the business, not in it.

2️⃣ Leverage Compounding: Consistent investing builds real wealth over time. For example, $500/month at a 10% annual return could grow to $382k in 20 years—and $1.1M in 30.

Wealth isn’t built overnight, but little by little, it grows into something significant. Start now and stay consistent.

Did you know you can hire your kids to:

💵 Save on taxes.

📈 Help them build wealth through Roth IRAs and investing.

💼 Teach them real responsibility.

Done right, this strategy is a game-changer—not just for your business, but for your family’s future.

Life transitions bring exciting opportunities—but also big questions.

Marriage, starting a family, selling a business, or even planning a dream retirement can feel overwhelming without a clear roadmap. How do you budget for a wedding? Reduce taxes during a sale? Fund a once-in-a-lifetime adventure?

You don’t have to navigate these transitions alone. With the right financial strategies, you can prepare for life’s milestones with clarity and confidence.

Do you ever feel anxious or ashamed about your finances? You’re not alone.

These feelings are often rooted in common biases:

🔹 Imposter Syndrome: “I’m not good enough.”

🔹 Illusion of Transparency: “Everyone knows I’m struggling.”

🔹 Social Comparison: “They’re doing better than me.”

The good news? These distortions aren’t reality.

Recognizing them is the first step toward financial confidence and clarity. 💡

What happens to your assets—and your kids—if you don’t have a will? The state decides. 😟

A basic estate plan can start at just $300-$500 and often includes:

✅ A will to name heirs and guardians.

✅ HIPAA and healthcare directives.

✅ Power of attorney documents.

Don’t leave these decisions up to chance. If your situation is more complex, we’ll help you craft a comprehensive plan that fits your needs. Let’s protect what matters most.

Running a small business is exhausting when you’re always chasing loose ends:

🚨 Financial fires without a plan.

💸 Watching profits vanish to taxes and expenses.

🤔 Dreaming of an exit but unsure how to make it happen.

You don’t need another strategy book. You need a roadmap to turn your business into lasting wealth.

Did you know your beneficiaries override your will?

Here's what that means and why it matters: if your life insurance policy lists your brother as the beneficiary, but your will names your spouse, kids, and church, the insurance company will pay your brother.

That’s because beneficiary designations operate by contract—not by your will. Your will only applies to assets not already legally assigned to someone else.

The takeaway? Check your beneficiary designations regularly to ensure they align with your estate planning goals.

1 degree. That’s all it takes to change your destination.

Achieving financial freedom isn’t about massive, overnight shifts—it’s about tiny, consistent decisions that align with your goals:

✅ Set a vision: What do you want to achieve?

✅ Build intention: Decide to act on it.

✅ Develop the means: Create a strategy to get there.

Just like fitness, you need a plan to see results.

Hitting $3M, $5M, or even $10M in revenue feels like a dream come true—until you realize your bank account doesn’t reflect your success. 💸

Many business owners get stuck, pouring everything back into growth and leaving little for themselves. But it doesn’t have to be this way.

Your business can help you live well, give generously, and leave a lasting impact—if you use it wisely.

Does money make you feel secure? A full bank account feels like a safety net, but here’s a reality check: Proverbs 18:11 says wealth is “a high wall in our imagination.”

We’re often tempted to trust money for protection, but it can’t deliver. True security comes from contentment in God. As Paul reminds us in 1 Timothy 6: “We brought nothing into the world, and we can take nothing out.”

One way to break free from trusting in money? Give it away. Generosity shifts our focus from wealth to the One who provides.

What’s your favorite way to give?

What if your business could run smoother and give you more freedom?

Running a business is tough—long hours, constant financial challenges, and endless decisions. Are you managing the money, or is the money managing you?

If you feel like you’re spinning your wheels and stuck in financial catch-up mode, it doesn’t have to stay that way. Imagine confidently building a legacy while focusing on what you do best.

Let’s work together to create a financial plan that frees you to thrive. Ready to refocus on what really matters?

Taxes can take a big bite out of your income—especially if you’re self-employed. But strategic tax planning can help reduce the burden and keep more of your money working for you.

Here are a few smart strategies:

1️⃣ Optimize deductions over multiple years for the best outcomes.
2️⃣ Harvest investment losses to offset capital gains.
3️⃣ Open a 401(k) in your business to contribute to tax-advantaged accounts.

Don’t wait until tax season to think about taxes—planning ahead can make all the difference.

“Any intelligent fool can make things more complex. It takes a touch of genius to move in the opposite direction.” – Einstein

Your financial situation isn’t a problem with one right answer—it’s complex, requiring trade-offs and careful evaluation.

If your advisor isn’t treating it that way, they may be doing more harm than good.

In this video, we’ll explore the difference between complicated and complex financial decisions, and why you need a fiduciary who puts your best interests first.

Choosing the right financial advisor can be overwhelming, especially with so many options out there. Did you know there are three primary types of advisors?

1️⃣ Planning-focused advisors (fiduciaries who put your best interests first)
2️⃣ Investment-focused advisors (focused on growing portfolios)
3️⃣ Insurance-focused advisors (focused on selling policies)

(At Openhanded Wealth, we’re planning-focused.)

This means we start with you—your goals, your family, and your unique situation—not what’s incentivized by commissions or quotas.

Many business owners don’t realize they’re overlooking opportunities to save on taxes and grow their wealth. In this video, I share 5 smart tax strategies that you might not have considered, including:

✔ Hiring your kids and funding their Roth IRAs
✔ Choosing the right retirement plans for your business
✔ Making the most of HSAs and Roth conversions
✔ Using charitable giving to maximize your impact

These strategies could help you keep more of what you earn while working toward your financial goals.

📄 DOWNLOAD Free PDF Guide
☑️ DOWNLOAD: Checklist: How Business Owners Can Hire Their Kids
📈 DOWNLOAD: Which Retirement Plan is Right for My Business?
📞 Book a free strategy call to explore how these strategies might work for your business.

Chapters:
00:00 Introduction
00:30 Hiring Your Kids & Roth IRAs
03:10 Qualified Retirement Plans (Solo 401(k), SEP IRA)
06:40 Roth Conversions
09:00 Using an HSA for Triple Tax Benefits
10:30 Charitable Giving to Maximize Impact