Episode 250: Amy Schultz (Bolder Money) — Empowering YOU to Take Ownership and Control of Your Finances
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Key takeaways from this episode
If you’ve been craving a money reset (without shame, overwhelm, or complicated spreadsheets), this episode is for you. Amy and I cover:
- How to start saving money now (even if you’ve never been “a saver”)
- Habits to become more financially responsible without feeling restricted
- How to budget to leave your 9–5 and go full-time in your business
- How to tier your offers to make more money with less time spent working
Meet Amy Schultz from Bolder Money
In this episode, I’m joined by Amy Schultz, Co-Founder and Head Coach at Bolder Money—a company on a mission to close the gender wealth gap through accessible, compassionate financial coaching for women.
And Amy’s story is one so many women will feel in their bones.
She didn’t start in the coaching world. She started as an actuary and wealth consultant, working long hours in corporate, earning good money… and still feeling financially stuck.
Then life happened.
After a traumatic birth experience with her first son (and spending the first day of his life on life support), everything changed. She realized she didn’t want a life where she felt trapped by a paycheck—especially when her finances weren’t giving her the freedom she thought “a good income” would provide.
That moment became the catalyst for a full pivot.
Amy started researching, learning, and pulling back the curtain on a hard truth:
So many women make good money and still feel ashamed or confused about where it’s going.
That realization led her to build a business centered around shame-free financial coaching—and eventually co-found Bolder Money.
The money conversation we don’t talk about enough: the gender wealth gap
A lot of people have heard of the gender pay gap. But Amy shared something that stopped me in my tracks:
- The gender pay gap: women earn about 82 cents for every dollar men earn (and less for many women of color and LGBTQ+ women).
- The gender wealth gap: women’s net worth is about 32 cents for every dollar men hold.
That’s a massive difference—and it highlights something important:
This isn’t just about earning more money.
It’s also about what we do with our money, how we were taught (or not taught), and the roles women are often pushed into inside households.
Step one: Start with what you actually want
One of my favorite parts of this episode was how Amy said they don’t start with budgets or investing tips.
They start with your goals.
Because “save more” isn’t motivating on its own. But saving because you want to:
- leave a job you hate,
- build a business with freedom,
- stop living paycheck-to-paycheck,
- feel safe and secure,
- or finally breathe…
That’s motivating.
Amy shared that research shows when you connect to your future self (the version of you who already achieved what you want), you’re more likely to take small steps today that actually get you there.
Why your “money story” matters (more than you think)
Amy explained something so powerful: two people can have the exact same financial situation, but how they handle it depends on their money story.
Your money story includes things like:
- what you saw growing up about money,
- whether money was discussed or avoided,
- cultural beliefs,
- financial trauma,
- and how your role as a woman shaped your relationship with earning, saving, and spending.
This matters because money is not just math—it’s emotional.
And if coaching doesn’t address the emotional side, women often get stuck in cycles of shame and avoidance.
Debt: “good” vs “bad” isn’t the whole story
Amy shared that not all debt works the same.
Credit card debt tends to be high-interest and costly over time, while things like a mortgage may be lower interest and tied to an asset.
But what I really loved was her approach:
Instead of labeling debt as “good” or “bad,” Bolder Money asks:
Which debt is weighing on you the most—and what can we tackle first without punishing you?
Because the shame spiral is real, and when women feel guilty, they often stop seeking help—or throw every dollar at debt and stay stuck because they aren’t building savings.
Saving vs. paying off debt: how to balance both
This was such a practical part of the conversation.
Amy explained that when you’re in debt, it’s tempting to throw everything at it—but that often keeps you trapped.
Why?
Because if an emergency happens (car repair, medical bill, etc.), you go right back to debt.
So Bolder Money often starts by building a rainy day fund while still paying minimums on debt.
A simple target:
- Build up $2,000–$3,000 first (or roughly one month of expenses)
Even if you start with $25 or $50 per paycheck, this creates a new pattern:
You start practicing holding onto money.
Then, once you have that buffer, you can more aggressively tackle debt and grow an emergency fund.
Want to start saving today? Here’s what Amy recommends
If saving feels impossible right now, Amy suggested a few steps:
1) Start with one simple savings account
Move money automatically right after payday—even if it’s small.
2) Audit your spending for the last 2 months
This is where many women find “hidden” money they didn’t realize was leaking out (subscriptions, convenience spending, random charges, etc.).
3) Use a high-yield savings account for your emergency fund
Once you’re building longer-term savings, a high-yield account helps your money grow more than a basic savings account.
How to budget to leave your 9–5 and go full-time
If you’re dreaming of leaving your job, Amy shared two huge pieces of advice:
1) Build your runway
Aim for closer to 6 months of expenses saved before leaving your full-time job (sometimes more depending on your situation).
Why? Because we almost always underestimate:
- how long it takes to stabilize business income
- how many surprise costs pop up (health insurance, taxes, trainings, tools, etc.)
2) Get good at projecting consistent income
New business owners often struggle with income swings.
Amy encouraged entrepreneurs to work toward a point where:
- your minimum monthly income covers your needs
- you have backup plans for slow seasons
- you plan for taxes and business investments ahead of time
Multiple income streams: yes, but with intention
Amy shared that true “passive income” usually comes from investing, which is why it’s important to factor savings and retirement into your business goals—not just monthly bills.
And for business owners, it can help to build tiers and offers that create revenue without requiring more hours.
Which brings us to…
Tiered offers: more money, less time
We talked about how smart it is to build offers that don’t rely entirely on 1:1 time.
Amy shared how group coaching can be powerful because:
- it builds community and momentum
- clients learn from each other
- it can be less work than repeating the same thing 1:1
- it’s more scalable and sustainable
If you’re currently trading time for money and feeling maxed out, this part of the episode is a must-listen.
The one thing Amy says to do tonight
This tip is GOLD and so doable:
Put a “Money Date” on your calendar for every payday.
Make it recurring. Add a note like:
“Am I moving my money to build the life I want?”
Because when payday comes, you’ll have a built-in reminder to:
- move money into savings
- check spending
- fund your goals
- and stay intentional instead of reactive
How to connect with Amy + Bolder Money
You can find everything at http://www.boldermoney.com, including:
- their free community
- coach list (you can pick your coach!)
- programs and resources
- a quiz to help you get started
On Instagram:
- Bolder Money: @bolder.money
- Amy: @amyschulzmoneycoach
About Amy Schultz
Amy Schultz is the Co-Founder of Bolder Money, a company on a mission to close the gender wealth gap with financial coaching that addresses the emotional side of money. Amy left her career as an actuarial wealth consultant to pursue money coaching when she recognized the need for inclusive and shame-free personal finance guidance in her own life. Since then, Amy has brought the power of money coaching to thousands of women+, helping them earn more money, pay off debt, build savings, and ultimately create better lives.
If you loved this episode, share it with a friend who needs a little money confidence boost. And as always—go create some magic. ✨
