In this episode of Financial Modeler’s Corner, host Paul Barnhurst and co-host Carolina Lago explore their experiences with financial modeling and the Advanced Financial Modeler (AFM) certification. They discuss the value of these certifications, the challenges of studying for them, and how these programs can improve financial modeling skills. They also provide helpful tips and insights into preparing for the Chartered Financial Modeler (CFM) certification.Carolina is a financial modeling and FP&A specialist with over 20 years of experience. She holds the Advanced Financial Modeler (AFM) certification from the Financial Modeling Institute (FMI) and is working toward the Elite Certified Financial Modeler (CFM) credential. Carolina is passionate about teaching financial modeling and helping professionals use financial models to make better strategic decisions. Her workshops focus on best practices, scenario analysis, and providing businesses with the tools needed to navigate financial challenges.Expect to Learn<ul><li>The definition of a financial model and how to differentiate it from other types of business models.</li><li>Tips for studying for the AFM and CFM certifications, including managing time effectively and balancing models as you work.</li><li>Carolina’s experience preparing for the AFM and how to build financial models quickly under pressure.</li><li>The importance of practice in financial modeling and how to improve speed and efficiency.</li><li>The differences between the AFM and CFM certifications and why both are valuable for financial modelers.</li></ul> Here are a few quotes from the episode:<ul><li>"Even if I don’t pass the first time, I will have already succeeded by learning new techniques and improving my skills." - Carolina Lago</li><li>"You need to be resourceful and think quickly when preparing for the CFM. It’s about adapting to complexity in multiple areas." - Carolina Lago</li><li>"A financial model is anything that has inputs, calculations, and outputs, but at the same time answers a business question." - Carolina Lago</li></ul> Follow Carolina:<ul><li>LinkedIn - <a href="https://www.linkedin.com/in/s-carolinalago?originalSubdomain=ch" rel="noopener noreferrer" target="_blank">https://www.linkedin.com/in/s-carolinalago?originalSubdomain=ch</a></li><li>Website - <a href="http://carolinalago.com/" rel="noopener noreferrer" target="_blank">carolinalago.com</a></li><li>Course Tactic On-Demand: <a href="https://tacticfinancial.com/financial-model-for-you/" rel="noopener noreferrer" target="_blank">https://tacticfinancial.com/financial-model-for-you/</a></li><li>newsletter:&nbsp; <a href="https://pages.tacticfinancial.com/thetacticalroom" rel="noopener noreferrer" target="_blank">https://pages.tacticfinancial.com/thetacticalroom</a></li></ul> Follow Paul:&nbsp;<ul><li>Website - <a href="https://www.thefpandaguy.com" rel="noopener noreferrer" target="_blank">https://www.thefpandaguy.com</a>  &nbsp;</li><li>LinkedIn - <a href="https://www.linkedin.com/in/thefpandaguy" rel="noopener noreferrer" target="_blank">https://www.linkedin.com/in/thefpandaguy</a></li><li>YouTube - <a href="https://www.youtube.com/@thefpandaguy" rel="noopener noreferrer" target="_blank">https://www.youtube.com/@thefpandaguy</a></li></ul> Follow Financial Modeler's Corner &nbsp;<ul><li>LinkedIn Page-<a href="https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true" rel="noopener noreferrer" target="_blank"> https://www.linkedin.com/company/financial-modeler-s-corner/?viewAsMember=true</a> &nbsp;</li><li>Newsletter - Subscribe on LinkedIn-<a href="https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984" rel="noopener noreferrer" target="_blank">https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=7079020077076905984</a></li></ul> Sign up for the <a href="https://fminstitute.com/afm/" rel="noopener noreferrer" target="_blank">Advanced Financial Modeler Accreditation</a> Today and receive 15% off by using the special show code ‘Podcast’. Visit<a href="http://www.fminstitute.com/podcast" rel="noopener noreferrer" target="_blank"> </a><a href="https://bit.ly/497oAqW" rel="noopener noreferrer" target="_blank">https://bit.ly/497oAqW</a> and use the code “Podcast” to save 15% when you register.  In today’s episode:&nbsp;[08:03] - What is a Financial Model?[12:52] - Fun Use of Excel in Personal Life[17:06] - Learning About FMI[24:41] - Toughest Area in AFM Preparation[28:19] - Advice for AFM Exam[38:07] - CFM Difficulty and Value[42:36] - Broken Spreadsheet Joke[44:56] - Wrapping Up the Episode

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