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The Financial Freedom Formula with Penelope Jane Smith


Break Free to Brilliance Ep. 60: The Financial Freedom Formula

Tune into this week’s episode of Break Free to Brilliance for wisdom on how to live your life by design and achieving financial freedom.

Penelope Jane Smith is the premier financial freedom coach for women entrepreneurs and the go-to expert for some of the biggest names in the conscious business industry. She is an acclaimed international speaker and certified trainer with over 20 years of teaching experience, and the author of the Little Book of Prosperity. Through her signature programs, like Financial Freedom 101, she has helped thousands of entrepreneurs from all over the world to create more ease, peace and freedom around money.

Grounding Meditation:

After a quick grounding meditation, Caterina shared that it is her first time to experience starting a podcast interview with a meditation and it felt wonderful.

Additional Insight to Financial Freedom

  1. Can you share how you decided to become an expert in your particular area?

Freedom is one of my highest values, which is why I’m passionate about supporting people to create financial freedom (where the income from your investments pays for your lifestyle) so they can make choices from a place of freedom and joy, instead of debt and obligation.  

I specialize in working with women entrepreneurs because they’re tragically underserved by our current financial industry.  Most financial products and services out there are designed by men for other men and don’t take into account the longer life spans or differences in career paths of women entrepreneurs, which means that we end up with much less money at retirement, but it has to last us longer.


  1. What three strengths do you think has helped you with your success today?

The first key is increasing my own financial education.  Like most of the people I work with, I didn’t learn how to manage and invest money wisely when I was growing up, either at home or at school.  Like most of the people I work with, I didn’t learn about this as part of my early professional education either.  Now, I’m always growing and learning and sharing my latest and greatest insights with my clients and community.  

The second key is mindset.  This is the “inner game” of money, the emotional, psychological, and spiritual side.  I make it an ongoing practice to expand my prosperity consciousness.

The third key is systems.  My motto is “systems will set you free.”  Every system I create in my life and in my business, gives me more freedom.  I love it!


  1. Can you share a specific example that reflects what you do?

I specialize in supporting women entrepreneurs to become financially free in 5 years or less with $10,000 or more per month in passive income.

I do this through my Wealth Accelerator System, which has 4 parts: Mindset, Education, Systems and Strategy.  I like to joke that the acronym is M.E.S.S. because most of us are a “hot mess” when it comes to money!

When Laura Cornell signed up to work with me, she didn’t really know what to expect, but she knew there HAD to be a better way to manage and invest her money.

Laura was craving the freedom to travel the world and work on passion projects, like writing her next book, but her husband was working WAY too hard six days a week to take a break from his practice, and they didn’t see any alternative.

Her relationship with investing felt like a necessary evil.  They hoped to have enough money to retire someday, but they didn’t know how or if they’d be able to make that happen.

I showed Laura how she could be financially free right away, just by changing her investment strategy and moving some assets around.

So instead of “maybe someday,” she and her husband were able to retire in a matter of months!

Now, Laura feels good about investing. She understands it.  She likes it.

She and her husband started off with a mini-retirement in San Miguel de Allende in Mexico, she DID write her next book, and then they moved on to explore Sedona, Arizona next.

  1. What has been the most profound thing you have learned since you become the expert in your field?

So many entrepreneurs are focused on MAKING more money and attracting more clients, and that’s great, but then they ignore the GROWING money part, and that sets them up to work a lot harder than they have to.

Your money can work WAY harder FOR you than you can work for it! For example, if you invested just $50 a month from the time you were 25 years old until you were 65 years old, you would have invested a total of $24,000.  If you could average a 15% return on your money, you’d have $1,571,188.  The vast majority of that is your money growing FOR you!


  1. What 3 tips would you give to our readers?

Focus on PROFIT and not just revenue.  A good rule of thumb is to keep your profit margin above 50% for each of your offerings so you have room for fixed expenses, overhead, and net profit.

Set up a system for you to create and follow a unique Cashflow Plan each month for your business.  Without a Cashflow Plan, it’s almost impossible to make any real progress towards your financial goals, which will leave you feeling stuck and frustrated like you’re running on a financial hamster wheel.  When you have a Cashflow Plan, you’re telling your money where to go, instead of wondering where it went.

Strike a balance between investing back IN your business and investing OUTSIDE of your business for long-term wealth building so your business becomes a vehicle for creating wealth and financial freedom.


Connect with Penelope

Download your free copy of The Financial Freedom Formula eBook, where you’ll discover exactly what it will take for you to become financially free, the two types of passive income, and how to get more of each!

In just 3 days, get the tools to become financially free forever at Financial Freedom 101:

Business Name:  Real Prosperity, Inc

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