From Military Service to Financial Freedom: Lacey Langford's Journey

Welcome back to the Franchise Freedom Podcast! This is the show where we help corporate executives experience time and financial freedom via franchising.?

Our guest today is Lacey Langford, AFC? , an Air Force veteran, military spouse, speaker, and financial coach. Lacey transforms lives by empowering people to go from being fearful of money to having control and confidence. With over 15 years of financial planning, counseling, and coaching experience, Lacey is an accredited financial counselor and the founder of MILMO? , a community dedicated to helping the U.S. military with personal finance. She also hosts the Military Money Show podcast and is the founder and CEO of MilMoneyCon.

Lacey's Work and MILMO

Lacey has been incredibly busy over the past few years. She continues to run her podcast, focusing on helping the military community with money and entrepreneurship. MILMO, previously known as the Military Money Show, has evolved and rebranded to better serve its audience. Additionally, Lacey started MilMoneyCon?? , a conference that brings together financial professionals affiliated with the military, including veterans, military spouses, and active-duty service members interested in a career in finance.

Challenges and Support for Military Families

Transitioning out of the military can be a daunting task, especially when it comes to finances and career planning. Lacey's work through MILMO and MilMoneyCon addresses these challenges head-on. MILMO provides comprehensive support for service members, veterans, and their families, helping them make, save, and invest money wisely. This includes everything from budgeting and using the Thrift Savings Plan to managing multiple IRAs accumulated from various jobs.

Military spouses often face unique employment challenges due to frequent relocations, leading to underemployment or unemployment. MILMO helps these spouses build careers that fit their lifestyle, whether that's freelancing as a paraplanner, writing, or working flexible hours. MilMoneyCon, on the other hand, focuses on career development for those interested in the financial field, offering mentorship, guidance, and networking opportunities to help military families thrive.

The Appeal of Franchising for Veterans

During our conversation, an interesting statistic came up: one in six franchise owners in the U.S. has served in the military. Why do so many veterans gravitate towards franchising? Lacey believes it comes down to the skills and qualities developed during military service, such as discipline, self-motivation, and the ability to follow a structured plan.

Franchising offers veterans the chance to own a business with a proven infrastructure, making the transition from military to civilian life smoother. The leadership and management skills honed in the military are highly transferable to business ownership. Veterans are adept at taking instructions and executing them effectively, making them excellent franchise owners who can navigate the complexities of running a business with confidence.

Balancing Business and Personal Life

As business owners, finding time for creativity and new ideas can be challenging amidst the constant to-do lists and daily tasks. Lacey shared her approach to creating space for creativity and maintaining mental and physical health. She emphasized the importance of taking breaks, getting outside, and engaging in activities that clear the mind, such as walking or running.

Lacey also highlighted the benefits of time blocking and scheduling breaks to ensure productivity. By intentionally setting aside time for reflection and creative thinking, business owners can generate innovative ideas and solve problems more effectively. This balance between work and personal well-being is crucial for long-term success and happiness.

Conclusion

That's a wrap for part one of our conversation with Lacey Langford. Join us in part two as we delve deeper into Lacey's insights on helping active-duty service members, veterans, and their families navigate their financial journeys. We'll also explore the rebranding of MILMO and the exciting developments in Lacey's work. Stay tuned for more valuable tips and inspiration!

Thank you for joining us today. Don't forget to subscribe to the Franchise Freedom Podcast and leave us your feedback. We look forward to continuing this conversation next week!

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