COF 60: Setting SMART Financial Goals with Steven M. Hughes

Steven Hughes Know Money Inc on the Carry On Friends Podcast

Steven M. Hughes is a Caribbean American social entrepreneur, and financial literacy advocate. Steven is of Jamaican parentage and is based in Columbia, South Carolina. For the past six years, he has empowered thousands of people — equipping them with knowledge and tools to develop their financial foundation, set and achieve their goals, and most importantly, take action to make positive life changes through his keynotes and workshops.

In 2014, Steven also founded and launched Know Money, Inc., a 501(c)3 nonprofit that teaches youth and young adults how to manage their money and build sustainable businesses.

After making every money mistake imaginable as a student at Clemson University, Steven took massive action over the course of the next four years to improve his financial situation. He’s now a nationally Certified Financial Education Instructor, and he’s also been appointed to the Global Shapers Community by the World Economic Forum, based in Geneva, Switzerland.

In this episode, Steven explains how money is an emotional decision and the difference between Dream Money Statements vs. SMART Financial Goals.


Kerry-Ann’s Episode Takeaways

  1. We’ve been taught about money that it’s a logical decision vs money being an emotional decision.
  2. We have to connect the emotion underlying our money habits.
  3. Good financial habits come from understanding the emotional decisions we make when it comes to money and creating good money habits.
  4. Dream Money Statements vs. SMART Financial Goals.
    • Stay away from broad sweeping financial statements. If you do, they must be broken up into smaller, more manageable and Actionable goals
    • One good money habit is setting financial goals and being clear about those goals are.
  5. If you have a side hustle and a full-time job co-mingling of money doesn’t allow you to see your financial goals for the side hustle. Therefore we need to have separate bank accounts.
  6. We shouldn’t be paying Banks to access our money. So find options to do away with monthly fees. Especially as a solopreneur, freelancer, side hustler you want to keep your overhead as low as possible.
  7. PayPal is not your bank
    • PayPal is the processing system that allows us to transact any type of sales. It’s like a bridge and our money shouldn’t be left there.
    • Money left in PayPal not insured.
    • Money collected via PayPal should go to business checking account.
  8. We should automate our savings:
  9. Gmail account for bills and financial statements


Connect with StevenFacebook | Instagram | Twitter

Join the convo online using #cofpodcast

Carry On Friends – Twitter | Instagram | Facebook


Enjoyed the show? Please remember to leave a rating and review on iTunes

  • Authentic, Inspirational & Informative!
    September 27, 2017 by Robinbryd from United States

    This podcast feels like your comfy favorite blanket - familiar, comforting and warm. As a person of Carribean decent it's refreshing to hear a podcast dedicated to our stories.

  • The Podcast You Should Subscribe To!!
    June 13, 2017 by kaishajones from United States

    Carry On Friends podcasts stepped up when there was very few or little to none supporting a demographic of people seldom targeted or not targeted at all. I appreciate this as a young woman of Caribbean American ??????(Bajan/PuertoRican - Afro Latino) decent. To embrace culture and enterprise is what this podcast encourages.The content is supportive and relevant to what you need to get started as entrepreneur providing tools and resources. Nothing is held back, it's definitely a must listen and I'm truly grateful for it.

  • This feels like home
    February 8, 2017 by Danielle "Dani Dares" Fontus from United States

    I LOVE that this is a place where the unique reality of being Caribbean American is celebrated. It is comforting to hear others that I can do specifically relate to. I love that it is informative and fun in a way that only a Caribbean American can do. It really is a great marriage of the cultures!

  • Great discussions and topics
    November 7, 2016 by ChanelStew from United States

    I love that this podcasts speaks to professional growth with the Caribbean population in mind. Who else tells us how to be unique in culture in a work world that isn't expecting is. Getting insights from people that I may never have heard from. Thank you, and as a Black American but wouldn't change a thing about this podcast.

  • It was a pleasure to be a guest on the show!
    October 25, 2016 by Rana Campbel from United States

    My experience interviewing with Kerry-Ann was fabulous. Love what she is doing on the show and think that she has a unique gift for pulling out gems while still staying true to the Caribbean Spirit of the podcast! Would highly recommend to my fellow Caribbean Americans 🙂

  • Great Info!
    September 22, 2016 by KC12345!!! from United States

    I'm loving Kerry's insight! Keep up the great work. One love! Kwame

  • Entertaining, practical and informative
    September 19, 2016 by Kingsley - Hope Dispenser from United States

    I have enjoyed listening to this show with Kerry-Ann. I love the content and the enthusiasm displayed in each episode. I have listened to a number of episodes and have always come away with something of value. As the host of the Success Caribbean Style podcast, I know what it takes to put together a show period much less a great one. Kerry-Ann has mastered it. Great show ~ @kingsleygrant

  • To Greatness.. Carry On!
    January 15, 2016 by DDSS from United States

    Awesome !!!

  • There are more...
    October 10, 2015 by Jboss3886 from United States

    A few outliers are cool but Kerry-Ann sheds light on some lesser known successful Caribbean American entrepreneurs. Excited about the interview series.

  • Content I can relate too
    May 2, 2015 by Yogi_HM from United States

    I like a few of the topics discussed so far in this podcast series, actually went through the feelings of episode 8 the day before listening to it.

  • Easy listen
    March 14, 2015 by Hiccmann from United States

    Easy to listen to... cant wait to hear more...

  • Inspirational
    March 12, 2015 by Bammbizzle from United States

    Great listen,very informative and to the point.Love her voice.

  • Well done!!
    March 4, 2015 by G1bbles from United States

    First, let me say that Kerry-Ann is very eloquent and has a wonderful voice for the radio. I listened to her segment on accountability and goal setting. This couldn't have come at a more perfect time; I recently lost my job and felt as if I was accomplishing none of my goals. For the rest of the month, I have a series of goals now that I hold myself accountable to achieve as well as being someone's accountability partner as he makes his way through technical with a few hurdles in the way. I must say I haven't felt this refreshed in a while! This is a great podcast, and my friends think so too!

  • Love it!
    February 17, 2015 by ANarine08 from United States

    Just listened to this podcast for the first time and loved it. Kerry-Ann is positive, encouraging, motivating, and full of wonderful ideas (like keeping a compliment journal). Definitely worth checking out if you need some encouragement/motivation in your life.

  • Get informed!!!
    January 23, 2015 by denden30 from United States

    I love this podcast… this girl has a knack for keeping people informed. The time I used to spend in the subway just staring into space 🙂 I now use to take in these little golden nuggets of information.

  • Refreshing
    January 21, 2015 by Ginger-vee Carter from United States

    A bright and fresh take on subjects that need talking about. You can definitely feel the positive energy and encouragement in each episode. Can’t wait to hear more. I’m a happy subscriber! Thank you Ginger-vee

  • Brilliant
    January 21, 2015 by Ksaw29 from United States

    Refreshing, informative, in depth. The knowledge I have gain from the topics posted by Carry On Friends is immeasurable. A must have on any podcast.

You Might Also Like