Cover image of Listen Money Matters - Free your inner financial badass. All the stuff you should know about personal finance.
(1937)

Rank #9 in Investing category

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Investing

Listen Money Matters - Free your inner financial badass. All the stuff you should know about personal finance.

Updated 3 days ago

Rank #9 in Investing category

Business
Careers
Investing
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Honest and uncensored - this is not your father’s boring finance show. This show brings much needed ACTIONABLE advice to a people who hate being lectured about personal finance from the out-of-touch one percent. Andrew and Matt are relatable, funny, and brash. Their down-to-earth discussions about money are entertaining whether you’re a financial whiz or just starting out. To be a part of the show and get your financial questions answered, send an email to listenmoneymatters@gmail.com.

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Honest and uncensored - this is not your father’s boring finance show. This show brings much needed ACTIONABLE advice to a people who hate being lectured about personal finance from the out-of-touch one percent. Andrew and Matt are relatable, funny, and brash. Their down-to-earth discussions about money are entertaining whether you’re a financial whiz or just starting out. To be a part of the show and get your financial questions answered, send an email to listenmoneymatters@gmail.com.

iTunes Ratings

1937 Ratings
Average Ratings
1505
177
64
75
116

Can’t listen anymore

By done still - Jan 21 2020
Read more
I’ve been listening for years but recently it’s really been difficult to get through the episode. The first 5 minutes are about beer, I don’t care about what you’re drinking. At first I liked that it wasn’t overly professional and easier to understand, but now I find it just to be unprepared and all over the place. The guys seem to have a negative attitude to everything in the market. Listening to Matt complain about his rental property when he really just made a bad home purchase and is trying to pass it off as a rental is frustrating. I have to let it go.

•Money really matters•

By Hina Layla - Nov 27 2019
Read more
•Instrumental•Insightful•Applicable•Relevant•

iTunes Ratings

1937 Ratings
Average Ratings
1505
177
64
75
116

Can’t listen anymore

By done still - Jan 21 2020
Read more
I’ve been listening for years but recently it’s really been difficult to get through the episode. The first 5 minutes are about beer, I don’t care about what you’re drinking. At first I liked that it wasn’t overly professional and easier to understand, but now I find it just to be unprepared and all over the place. The guys seem to have a negative attitude to everything in the market. Listening to Matt complain about his rental property when he really just made a bad home purchase and is trying to pass it off as a rental is frustrating. I have to let it go.

•Money really matters•

By Hina Layla - Nov 27 2019
Read more
•Instrumental•Insightful•Applicable•Relevant•
Cover image of Listen Money Matters - Free your inner financial badass. All the stuff you should know about personal finance.

Listen Money Matters - Free your inner financial badass. All the stuff you should know about personal finance.

Latest release on Jan 20, 2020

The Best Episodes Ranked Using User Listens

Updated by OwlTail 3 days ago

Rank #1: How To Use a Credit Card Like A Responsible Adult

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Used properly, a credit card can have all sorts of benefits. Used improperly, it can drag you into bankruptcy.  A credit card can be a blessing or a curse. Some people refuse even to touch one. But if you know how to use one, it is a tool like anything else.

Full Article Here

Show Notes

Tallgrass Brewing Buffalo Sweat:  A sweet, oatmeal cream stout.

Credit Karma:  Get your credit score for free.

Extra Pack of Peanuts:  Learn how to churn airline miles.

LMM How to Improve Your Credit Score:  Hacks to boost your score fast.

LMM Best Travel Cards: If you want free flights and hotels, these are the best cards.

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Feb 13 2015

53mins

Play

Rank #2: How to Actually Save Thousands on Your Mortgage

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Adam Carroll joins us to discuss how to actually save thousands on your mortgage with home equity lines of credit.

 When we interviewed Adam for our new Rich Tips series, he mentioned how he is paying off his mortgage years ahead of schedule and saving thousands of dollars in interest. We were intrigued and asked him to join us to explain his strategy in greater detail.

 What Is A Home Equity Line Of Credit?

 A home equity line of credit, HELOC, is “An open ended line of credit extended to a homeowner that uses the borrower’s home as collateral. Once a maximum loan balance is established, the homeowner may draw on the line of credit at his or her discretion. Interest is charged on a predetermined variable rate, which is usually based on prevailing prime rates.” Most institutions will lend up to about 90% of loan to value.

Strategy

Adam has an ingenious use for his HELOC and you can use his strategy too. The HELOC is used as a checking account. All of your income is deposited into it and all of your expenses are paid out of it.

Depositing your paycheck into the HELOC acts like a payment so you aren’t adding a monthly payment. The money left over at the end of the month gets sent to the mortgage. What this does is send a massive payment to your mortgage each month.

The trick to make this work though is that you have to make more than you spend. Let’s look at an example: You bought a home for $100,000 with a $20,000 down payment. You can immediately take out a HELOC for $10,000. You then put that toward your mortgage.

In order for this to work though, you must make more than you spend. You make $5,000, spend $4,000 and have $1,000 left. That $1,000 goes into the HELOC until it’s paid off, so for ten months. Let’s say your interest rate is 5%. So that’s $500 over 12 months, $41.33 the first month in interest but when the income goes in, you’re paying a little less each month because you’re slowly paying the loan down with that $1,000 a month.

Rather than taking ten months to pay off, it takes around 7. And because your mortgage went from $80,000 to $70,000, you will pay less interest not just over ten months but over the entire life of the loan.

What If You Don’t Own A Home?

You can still use a similar strategy if you don’t own a home. You can get a personal line of credit, PLOC. A PLOC is “A loan that you use like a credit card account that you access without using a card. Instead, you write special checks or request a transfer to your checking account by phone or online. You have a credit limit, receive a monthly bill, make at least a minimum payment, pay interest based on your outstanding balance, and possibly pay a fee each time you use the account. 

PLOC are unsecured, unlike HELOCs, which are backed by a mortgage on your home. PLOCs are offered by banks and credit unions and usually require that you also have a checking account with the same institution.”

PLOCs have their drawbacks. The interest rate is higher than a HELOC and the interest is not tax deductible. But if you have high-interest debt and don’t own a home, they can be beneficial.

What Keeps Us In Debt

It’s the way we bank and borrow. Taking out a 30 year mortgage is just SOP in the United States. Amortization is the process of paying off a debt, like a mortgage over time with regular payments. An amortization schedule is a table detailing each periodic payment on an that loan.

We borrowed $80,000 to buy our home above. With a 30 year mortgage at 3.5%, you will pay $50,000 in interest when it’s all over! Your first mortgage payment will be $359,

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Dec 07 2015

1hr 9mins

Play

Rank #3: Stop Living Paycheck to Paycheck

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Your paycheck gets deposited, groceries purchased, bills paid, and then you’re broke again until the next payday.

 That is the story for almost half of American households, and the vicious cycle is hard to break. It won’t be easy, but you can stop living paycheck to paycheck.

 An NYU study found that about 70 million Americans live in “wealthy hand-to-mouth” households. These are families that own assets like homes, retirement accounts, college funds and cars but yet still live paycheck to paycheck. They spend almost every dollar of their annual income to keep up their lifestyle and pay all the bills.

 Why is it happening?

 If you want to stop living paycheck to paycheck, you need to find the root of the problem. It is probably very simple – you are spending more than you earn. You may not throw your money away on extravagant things, but you are still living above your means.

 It’s time to consider making some lifestyle changes. Start by making a list of necessary and optional expenses see where you can save.

 If your spending is already very low, ask yourself what you need to survive and reframe your lifestyle choices. That can mean moving to a cheaper apartment, stop eating out,  taking the bus to work, making lunch at home, getting rid of the gym membership or get your bills lowered.

There are many people who people survive on very little – look at Mr. Money Mustache. Take a hard look at the choices you have been making and create a budget that will give you the flexibility to save, even if it’s just $50 a month. You can build wealth one dollar at a time.

Prosperity Mindset

The mind is a powerful thing. To make real changes in our lives, we need to create a positive shift in our thinking. I’m not talking about The Secret “think it and it shall happen” bullshit. Well, maybe a little.

Having a bigger vision for what you believe is possible for yourself is the first step to getting there. There is truth in the law of attraction. If you feel that you will never be financially stable or you’ll never get out of debt you most likely won’t. That negativity is reinforcing your limitations.

Take full responsibility for your financial circumstances. Your willingness to change it is a key factor in your ability to make better financial decisions.

Remember, prosperity is not about having a big house or ton of money. It is about being happy and living comfortably, and the way to get there is with a positive attitude and motivation.

Breaking the Cycle

Think for a moment on what you’ll gain from breaking the cycle. How will it feel to have extra money at the end of the month? Once you start having money left at the end of every pay cycle, you’ll begin to feel a little freer. Having financial breathing room will significantly reduce your stress. 

Give yourself a pay cut. Living slightly below your means will help you stashing away some savings every month to grown an emergency fund. Try to pretend you earn less than you do.

Start a crash savings program and do it in a short period like one to two months. Try saving 5-10% of your paycheck. Set up an automatic transfer to your account so it is easier to stick with it. Roughing it for a short period is all you need to get out of the cycle. Once you see that it is doable, it will be much easier to stay on course.

If cutting expenses aren’t enough, then you need to build more income. Having an additional stream will make a huge difference even if it’s only $100 extra a month.  It doesn’t necessarily have to be another job.

If you have a few extra hours a week,

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Aug 01 2016

43mins

Play

Rank #4: 5 Questions: Roth IRA's, Investing 10K, and Using Acorns

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Competition is heating up among the Robo-Advisors. We get a lot of emails asking which is better: Acorns vs. Betterment vs. Wealthfront so we broke down each of the services to see who deserves your investment.

 The whole point of going with a Robo-Advisor is the ease of use. Based on the research, it’s highly unlikely you’ll outperform the market on your own. Better yet, if you tried to do it on your own, it would be much more expensive.

For someone just looking to invest with the right service, it’s getting harder and harder to tell where you should put your money.

Before we get started, I also wrote an incredibly in-depth Betterment Review, an equally detailed Wealthfront Review as well as interviewed the Acorns founders so if you’re looking to go even deeper check those out. In this article, I’ll be focusing more on the nuances of each service than the nitty-gritty features and how they work.

Let the Robo-Advisor battle begin!

A Birds Eye View

Every good investment comparison needs a sexy chart breaking down the differences. I’m not one to leave you wanting so bask in its glory:

Promotions

Students Invest For Free

Up to 6 Months Free

Invest $15,000 Free

Management Fees

0.25% a year

0.25% – 0.5% a year

0% – 0.25% a year

Minimum Deposit

None

None

None

Automatic Rebalancing

Yes

Yes

Yes

Tax Loss Harvesting

No

Yes

Yes

Assets Under Management

$73.6 Million

$5 Billion

$3.5 Billion

iOS App

Yes

Yes

Yes

Android App

Yes

Yes

Yes

Taxable Accounts

Yes

Yes

Yes

IRAs

Yes

Yes

Yes

On paper they’re very comparable but as you know, the magic is in the details. In order to objectively compare Acorns vs Betterment vs Wealthfront I’ve come up with three main rounds the services will battle in to win your investment.

Round 1: Ease of Use and Sex Appeal

Acorns has a beautiful app and a beautiful website. It’s one of the best-designed apps on my phone by a long shot. I’m of course not the only one to notice this – they’ve won some design award every year since they opened their doors.

That’s sexy investing, am I right or am I right? This Round was just going to be called Ease of Use, but Acorns elevated it to Sex Appeal. I’m willing to bet this is the biggest way they get people to try them out. Sexy screenshots.

That can also be a downside though. We’re about investing for the long-term here so if you need to keep opening your app just to see the pretty colors; you’ll also see daily fluctuations and go slowly insane.

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Oct 02 2014

36mins

Play

Rank #5: Investing Is Not Hard And Anyone Can do It

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Many people are afraid to get started investing. Some are scared to lose money, feel they don't have enough money or it can be due to lack of personal finance knowledge. Investing is not hard and anyone can do it. You can start investing with any amount money and the earlier you start, the better. We'll explain the fundamental concepts, lingo, types of investments and the basics of how to start investing. You got this!

Full Article Here

Show Notes

An Mas Chili Jesus: 12% ABV, what else do you need to know?

Krane Financial Solutions: Justin's fee only investing firm.

JKrane.com:Justin teaches business owners how to be smart with their money so they can fund personal goals.

Simple Wealth: Research and evaluate rental properties.

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Jul 24 2017

1hr 12mins

Play

Rank #6: The Personal Finance Blueprint 2.0

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The Personal Finance Blueprint 2.0 will show you how to build a strong financial foundation and show you when and where to start with investing.

Show Notes

Freddie Murkury IPA Mikkeller Brewing San Diego

Leftover - Matts new home brew

Betterment Smart Saver

Simple Bank- No ATM fees here

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Nov 05 2018

1hr

Play

Rank #7: Expensive Taste May Be Prohibiting Your Financial Growth

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Does champagne taste hurt your wealth building?  Unless you’re a Russian oligarch, the answer may be yes.  We like nice things even if we can’t  afford them.


There comes a time when we have to live within our means.  Easier said than done when you have expensive tastes.  Even harder to do in a big urban area like New York City.  The reason we are so revolted by mediocrity is because we are surrounded by excellence.  But when it comes to wealth building, this is a dangerous mindset.


Dinners, cars, clothes.  We all have our weak spots.  So what to do about it?  Does everything have to be top shelf for your special self?  It’s not like you’re the Pope or anything.  So instead of the $50 bottle of Bordeaux, how about the $25 bottle?  You’re probably no wine expert either so likely won’t notice the difference.  That’s not too say you can’t ever have the really good stuff.  But save it for special occasions.  It’s part of what makes them special.


Quality is sometimes largely perception.  Quality doesn’t always mean the most expensive.  It’s better meaning would be the most durable.  Many people who buy only the most expensive things often don’t recognize quality anyway.  They just follow the herd in buying what they’ve been told is the best via advertising.  People interested in quality have done enough research to discern quality from cost.


We’re not condoning PBR consumption but after beer number four, what difference does it make really?  I type this as I’m listening to Matt describe Andrew rubbing his new I-Phone on his face.  So what is the point of this episode?  Do as we say not as we do?  No, that doesn’t seem like the correct message to send.  How about this?  Buy the best that you need, not the best you can afford.


Show Notes

Mint:  Track how many I-phones you buy!

Betterment:  Invest so you have money for more I-phones!

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Oct 18 2014

32mins

Play

Rank #8: 5 Questions: Retirement Funds, Savings Bonds and Budgeting

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The guys tackle five great listener questions today. For full answers listen to the episode below.

 Question One

 Longtime listener, quick question. I currently put about 25% of my income toward my betterment retirement fund. I rent now but eventually would like to buy a house within the next 10 years. Should I go 15% retirement and 10% home? I would create a new betterment account rather than keeping all in one. Let me know what you’d do.

 If you are able to save 25% of your income then you are definitely on the right track! The split of the savings really depends on your situation, the percent is arbitrary. What is really important is if x% is enough to reach your retirement and other goals.

 Taking into consideration how much you make, what kind of raises you can expect in the future and how much of a down payment you’ll need to purchase a home, will help you figure out if 10% over 10 years will be enough for the kind of home you would like to buy. You also need to figure out if saving 15% a year is enough for the retirement your looking for.

 Question Two

 Hi Guys- I’m 26, in sales (salary plus bonuses) and also work at a restaurant every Saturday. My salary is $42,000, and my bonuses usually total $5,000 per year. Serving money obviously fluctuates, but let’s say its $130.00 a week on average. (520/mo ~ $6/yr) = total $53k

 I have $3,300 in credit card debt and paying that off is my immediate financial goal. I’ve tightened my budget and am using the money i’m saving there plus my serving money to pay that off. Basically, i’m throwing every extra dollar I have at that debt.

 My question is what should I do when I pay that off. I have 19k in federal student loan debt, but I have friends and co-workers who say thats “not bad debt” and I should start saving for a house/investing my money instead of putting all my resources into paying that off as quick as possible.

 Any thoughts or suggestions will be greatly appreciated. Thanks again guys.

 We get this question a lot and most of the the time the answer is pay off your student loan debts after you you have suitable emergency fund in savings. You can’t wipe out your bank all accounts to pay off your debt. Leave yourself some breathing room and make sure you have some money saved up for any unaccepted bills or situations.

 Also depending on your debt interest rate, it might be ok to start investing. If you have a low rate (3.8%) putting a little into the market is ok. If you have a high interest rate (7%+) the 19k in loans will become 21, 22, 23k if not paid down quickly. The market average is 7% so if your loans are 7% or higher mathematically it’s a better choice to pay off debt first and fast. The freedom you feel when it’s all gone will be worth it.

 Question Three

 I am 31 years old and married. My wife and I make about 80k per year combined and live in Colorado. I contribute to my employers 401k up to match each year. I have an online high yield emergency fund account with about 10k saved. We only keep about 5k in our checking account to pay off the credit cards and mortgage payments each month.

 Here’s where it gets interesting: When I was a child I inherited a large amount of money, around 250k which was set aside until I was 18. Since then it has been in a portfolio of mutual funds actively managed by a financial advisor. The returns have been a meager 4% since 2004. This is where I’m concerned after hearing about the awesome returns you guys have been getting through betterment and vanguard.

 My financial advisor seems to be making a lot of money off me in quarterly fees (about 2500 per year) with very minimal returns compared to what I could be doing with betterment and vanguard.

 So my question is, what you would you guys do with the 250k? I always thought I wasn’t financially capable of actively...

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Apr 18 2016

46mins

Play

Rank #9: Types of Budgets: What Is Your Budgeting Style?

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Budgeting sucks. No one really wants to do it. It’s hard to stick with, it’s a chore to review it every month and it makes you feel like crap when you spend way too much on lattes. But, you’re an adult so you need to do it. There are a few types of budgets, which one is right for you?

 We’re getting back to basics of budgeting. Both Thomas and Andrew have been off the rails with their own budgets so get ready for some confessions. They will discuss different types of budgets, how they work and which ones are the least painful.

Reverse Budgeting

This budgeting method focuses on savings goals. Instead of setting up budget categories to look at your spending, create savings goals and whatever is left you have to spend. Start allocating money at the top of your priority list and work your way down.

Pay yourself first. Retirement, savings, and emergency fund are put aside first. Next are fixed expenses such as mortgage/rent, utilities, car payment, etc. Third are non-fixed expenses.

Anything that can fluctuate from month to month, such as groceries and gas. After that comes debt payments. Anything that is left over can be used for fun stuff like eating out, travel, fancy coffee or whatever else you like to treat yourself with.

Balanced Money Formula

You may have heard the balanced money formula also called the 50-30-20 rule. It’s a budget framework outlined by Elizabeth Warren and Amelia Warren in their book All Your Worth: The Ultimate Lifetime Money Plan. It is a very simple type of budgets.

Fifty percent of your take-home pay goes towards fixed expenses and necessities like food, housing, utilities and ideally all this should be should be kept at 35%.

Thirty percent of your take-home can be spent on wants like eating out, treating yourself to a new dress, electronics, etc.

The last twenty percent goes right into retirement accounts, savings and emergency funds.

The Envelope System

Ah, the good old envelope system. This was a great way to keep your budget and savings goals in check before budget management tools were created,

This method may seem is old-fashioned, but it’s great for those who are you are just starting out on their financial journey. Also for people who need to whip their financial ass back into shape.

This is a cash budget method so you won’t need to check credit card balances to see how much you spend. Start by looking at what your monthly cash flow is and what you have been spending in different categories.

Once you know those numbers, get our your envelopes allocated your expenses. Every dollar has a name and a job. $200 for groceries, $75 for gas, $150 phone, etc.

By giving yourself a set amount of money in your envelope to use towards a specific category, it will help you control your spending. When there is no more money in the envelope, you can not spend any more in that category. If you absolutely need more money, cut from another category to cover the access.

Budget Management Tools

Personal Capital – This is the Mint.com for investors. They will track your investments, analyze your investments and suggest ways to improve things like your 401k allocation. I use this as a tool to monitor my diversification and risk levels. This is for more advanced investors.

Mint – Create budgets that make sense today and set you up for success tomorrow. Receive alerts for unusual account charges, and get custom tips for reducing fees and saving money. We also wrote a book to help you get started called 

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Dec 05 2016

55mins

Play

Rank #10: 5 Questions: Down Payments, Debts and IRA’s

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Our listeners send in some great questions, and today we are going to tackle five of them. We answer five questions about down payments, debts, IRAs, 401k fees, and investing during a chaotic period in the stock market. You asked, and we answered your five questions!

 Question One

 Hey Guys- My fiance and I are getting married next month, and we are trying to get our finances in order as we plan to buy a house. We are looking for something in the $300K range in about two years and will have minimal savings following the wedding. However, we also have about $100K in student loans, with varying interest rates from 4.5% up to 7.6%.

 With proper budgeting, we think we can save about $70K over those two years. Would it be better for us to save all of it for a 20% down payment and closing costs? Or should we use the first $30K to pay down the highest rate student loans and use the other $40K for a 10% down payment and closing costs, knowing that we will have a higher interest rate, PMI, etc.?

 The first thing you need to do is consolidate your debt and refinance any student loans you might have. Lowering your rates and monthly payments will help you make ground quicker. If you go with a variable loan that extra percent off your interest rate will help you gain 2-3 years of progress.

Don’t overextend yourself. Rent until your loans are paid off before you even start thinking about buying a home. Your debt will factor into getting your mortgage loan. As for a smaller down payment, without 20% down you will basically throw money away with PMI.

Question Two

Hey guys- I’m currently trying to save for a house with my partner, and while she has a substantial amount for a deposit, I have near to nothing. We really want to buy something in the next year and a half. I might mention too that I have a bit of credit card debt….($8000)  I earn abut 1400 a fortnight. I know it might be a broad question but what do you suggest I do to be able to get on top of everything? Do you think it is smart to take out a loan to consolidate the credit card debt?

The short answer is yes. Take out a loan to consolidate your debt. The interest rate will be so much better than the credit card interest you are paying. There are many companies that can make the process painless like Sofi, Lending Club and Prosper just to name a few.

If you plan on taking out a loan remember that there is a loan origination fee that will be a percentage of the loan amount. It will be different between companies. Do the math and be sure the fee is worth the amount you will be saving in the long run.

Question Three

Hi- A little background on myself… I am 25 years old with my career being in Chicago, IL. I am working to get to the point where I am saving 15% regularly through 401K, the match, and Betterment IRA. However, you all talk a lot about retiring earlier than the old school 60 years old and such, which sounds amazing. Ha.

My question is: With the goal of continuing to add more money into my accounts as my salary increases and retiring as early as possible, is it better to invest my money into a Betterment Roth IRA or Betterment General Investment Account?

Pros? Cons? Thoughts? Suggestions?

If you are planning to retire early,

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Mar 14 2016

50mins

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Rank #11: The Real Difference Between a Rich Mindset vs. a Poor Mindset

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Maybe you are rich. Maybe you are poor. Maybe you have experienced being both at some point in your life. If you haven’t figured it out yet, being rich isn’t all about money. It’s about well-being, abundance, having time, success, and the right mindset. There are definitely social issues that contribute to poverty, however, rich vs poor mindsets can also drive wealth and success. There are many poor people with a rich mindset, financially poor due to circumstance. And there are many trust fund babies with a poor mindset.

Full Article Here

Show Notes:

Order of Man Podcast

Menfluential Conference

The Dip By Seth Godin

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Mar 26 2018

1hr 18mins

Play

Rank #12: The Miracle Morning: Start Improving Your Life Tomorrow Morning

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Hal Elrod is a keynote speaker and best selling author.  He joins us to discuss his latest book, The Miracle Morning.  This book may change your life!


What is so miraculous about the morning? Plenty. If you want to improve your life, your morning is the place to start.


Hal’s secret is that your level of personal development will match your level of success.  He began devoting an hour a day to personal development.  He researched the six most powerful methods of personal development and vowed to do all six each day.


Why Morning?


Mornings get such a bad rap. Everyone seems to want to stay in bed rather than get up and start the day. If this is you, you are giving up the best part of the day. Mornings are the most distraction free time you will get.


If you get up early enough, you are probably the only one in the house who is stirring. No one is asking for breakfast or if you remembered to pay the car payment or where their other sock is. You have the whole house to yourself!


If you go to the gym, it’s almost empty! You don’t have to wait around for the machine you want or get annoyed because some cretin didn’t re-rack their weights. If you drive or take public transit, there is less traffic and less people to crowd and annoy you on the bus or train.


When you get to work, you can get things done without the phone ringing, e-mails coming in, co-workers bugging you. Unless you are staying in bed for sex, there is really no reason to keep laying there hitting the snooze button wasting your miracle morning.


Morning is the best time to get things done because we are at our freshest. We’ve had at least some sleep, even if it was a bad night of sleep, it’s as rested as you are going to feel all day. The day also has a habit of getting away from us.


You don’t work out in the morning and promise to do it after work. But then you remember you have a dentist appointment or agreed to meet a friend for dinner. The day is over and you never worked out. When we don’t do things in the morning, the rest of the day can get away from us and those things just never get done.


In the morning, you don’t have the events of the day weighing you down. Sometimes we do have bad days and we just don’t have the energy or we are just in too bad a mood to care about doing things that will help our personal development.


That is why morning.


The Six Most Powerful Methods of Personal Development


This are the things Hal starts his day with. All it takes is one hour.


Silence


Our world is loud. I lived for a time on 78th Street and Second Avenue. There were a row of bars across the street. Bars close late in New York City, not until 4:00 am. It wasn’t the bar patrons that was the problem, apart from the occasional “Whoooing” bro or drunk chick.


It was when the bars when drag trash bags full of empty glass bottles to the curb. When you managed to fall back to sleep after that, the garbage trucks would pull up and toss them into the back, making another huge sleep destroying clatter. I used to lay in bed almost bawling from anger and frustration.


There is something about certain noises or noise that is interrupting our sleep that triggers some kind of oddly disproportionate anger in us. The World Health Organization declared noise pollution a “modern plague” and there is overwhelming evidence that it is detrimental to physical and mental health.


The antidote to the stress causes by the cacophony of life is to start your day with silence. This could be “formal” silence like meditation or just sitting quietly for a few minutes before turning on the radio or television. Silence reduces blood pressure. Silence can regenerate brain cells in the hippocampus, the part of the brain tasked with memory, learning and emotion.

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Nov 17 2014

59mins

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Rank #13: How to Make Passive Income a Reality

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There is a lot of chatter in the personal finance world about passive income, why you need it and how great it is. But what is it and why is it such a topic of conversation? Passive income is money that you earn without doing much to make it. Some passive income ideas take a degree of upfront work to earn, like writing an e-book and some don't take any effort at all, such as investing with a robo advisor. Today we talk about what exactly passive income is and understanding the non-passive nature of building it.

Full Article Here

Show Notes:

SeatedYou nee to use Seated to book restaurant reservations. Every time you complete a reservation, you get a gift code for up to 25% of your bill that you can use at Amazon, Uber, or Starbucks. The rewards are available within 24 hours of your completed reservation. Laura and I almost exclusively eat out with Seated because it saves us so much.

Paribus: Receiving refund checks are our favorite past-time. As it turns out, stores owe you money but they don’t pay if you don’t ask. That’s where Paribus comes in – they go to bat for you. Price drop? Get cash back for the difference. Deliveries arrive later than advertised? Get cash back.

Fundrise: Did you know that investors with 20% allocated to real estate outperform those who only invest in stocks and bonds? Diversify without the dramatics of actual tenants. The minimum investment is $500.

Lending Club:

The banks had a monopoly on personal loans until Lending Club came along. Now you can get a loan sourced from normal people. Reduce the cost of your debt and refinance. Lending Club has competitive rates and borrower benefits.

Drop: Earn cash rewards from your favorite brands. Drop is the free app that's giving out millions in cash rewards for the spending you do everyday.

BizBuySell: BizBuySell is the Internet's largest and most heavily trafficked business for sale marketplace, with more business for sale listings, more unique users, and more search activity than any other service. BizBuySell also has one of the largest databases of sale comparables for recently sold businesses and one of the industry's leading franchise directories. 

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Oct 29 2018

52mins

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Rank #14: It’s About Time You Stop Wasting Money

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All of us have spending leaks, money we spend that we shouldn’t. We’re getting back to basics. While you were all busy investing in real estate and monitoring your portfolios, you’ve been steadily wasting money. We’re all guilty of it, but from time to time we need to go back to personal finance 101 and take a hard look at how much we are spending day to day. Stop wasting money already!  And remember what gets measured gets managed.

Full Article Here

Show Notes

Cascade Kriek Ale:A sour ale from Cascade Brewing.

LMM Pro:Research, evaluate, and track rental property.

Toolbox:All the best stuff we use to manage our money.

Community: Join the conversation.

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May 15 2017

51mins

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Rank #15: The Road to a Simple Life: Minimalist Living Without Going Overboard

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It was Leonardo Da Vinci who said, simplicity is the ultimate sophistication. He is right! Minimalist living isn’t a new trend, it has been with us for centuries. So why is it making a comeback these days?


In 2005, Tim Kasser, a psychology professor at Illinois’ Knox College conducted a study on minimalism and its impact on happiness and wellbeing.


The study found that despite factors such as geographical location, gender, and age, those who simplified their lives reported significantly higher levels of positive emotions and life satisfaction.


So what exactly is minimalism?


No, not that kind of minimalism, more like this…


Minimalist living is all about owning less, having fewer distractions, and most importantly for Listen Money Matters fans, spending less.


Less is more, according to minimalism. A cluttered life leads to a cluttered brain, and ultimately an unhappy life.


Minimalism is mental framework about how you go about your daily life, avoiding the trappings of modern consumer culture.


Although there’s nothing wrong with owning things, minimalists would (rightly) argue that we have gone overboard with our materialistic lifestyles, to the detriment of our mental health and wellbeing.


Enough said, moving on.


Minimalists believe that we give way too much meaning to things, to the detriment of our financial, emotional, and physical health. Are things like homes, cars, and video games important to you? If they are, great.


But, if being a good person, family relationships, and physical health are more important, why do so many people forsake these for material wants?


This is the mantra of the minimalist, and there is some truth to it. So how does one begin to live a minimalist lifestyle?


Leading a simple life through minimalism doesn’t have to happen in one leap.


You can take small steps until you get to a place that is comfortable for you. Here’s how to get started.


Becoming minimalist


One of the most challenging aspects of adopting a minimalist lifestyle is figuring out where to start. If you are excited about all the benefits that minimalism has to offer, you may be tempted to make several big changes right away.


However, if you are not careful, a rapid transition can make you feel burnt out and cause you to lose momentum.


Before you take any concrete steps to minimize, it is essential that you adjust your mindset.


Minimalism is all about reducing stress and clutter in your life, and it’s much easier to begin this outward transition after you have adjusted your mindset to be more organized.


When you embark on your pursuit of minimalism, prepare to take your time with the transition. A slow and steady approach will reduce the adjustment you must make to your new minimalist lifestyle.


How to be a minimalist


As you start your journalist, here are a few steps on how to be a minimalist:


Take stock of your possessions


Before you can make changes in your home, you need to understand exactly how much you own. Walk through your house or apartment and take a look at the items you have in different rooms.


Make sure to take note of areas that you want to pay special attention to, such as overflowing dressers or cluttered bookshelves. It’s also a good idea to identify repeat items that you could easily downsize, such as multiple copies of the same book.


Work through your emotional connections to stuff


If you feel some anxiety when you think about getting rid of some of your possessions, you’re not alone. Most people have emotional connections to their possessions that can make letting go difficult.

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Nov 18 2014

39mins

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Rank #16: Invest or Pay Off Debt? That is the Question.

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There are a lot of questions in personal finance but maybe the biggest is invest or pay off debt? That is the question we get at LMM most often. There is a lot of emotions involved when it comes to making financial decisions but this framework largely removes emotion. This is straight up what you should do to optimize your finances. So, what should you do first, invest or pay off debt? Today Andrew has done the math.

Full Article Here

Show Notes

Even More Jesus Evil Twin Brewing: An Imperial Stout.

Sour Monkey: A sour ale from Victory Brewing Company.

Simple Wealth: Research and evaluate rental properties.

Tool Box: All the best stuff to manage your money.

Student Loan Debt

Mortgage Debt

Pay Off vs Hold Excel Spreadsheet (found in the bowels of the internet)

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Sep 18 2017

39mins

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Rank #17: 5 Questions: Refinancing, Rebuilding Credit, and Being a Spendaholic

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 Time for listener questions.  We’ll discuss refinancing, repairing damaged credit, and being a spendaholic.

 We love answering your questions.  If you want to know, your fellow listeners are probably wondering too.

 1.  How do I turn my spendaholic friends into the budgeting, investing machine LMM has turned me into?  First, tell them about the show!  You have to let each person realize they need help.  New Year’s resolutions are around the corner and money is a big one.  If they resolve to improve their finances, suggest some learning materials.  Podcasts, books, blogs that will help them learn.  If they suggest going out, offer up a cheap night.  A potluck, movie night at your place.  Remember, the host always gets to keep the leftover booze!  Inspire them, don’t lecture them.

 2.  I have a secured credit card as I’m trying to rebuild my credit.  What’s another good card to help me repair the damage?  When Matt had bad credit, in the low 600’s, Discover gave him a credit card.  Set up an account on Credit Karma to check your credit score to see if things are improving.  Getting more than one card and putting a small charge (Netflix, gym membership) on each one will boost your credit score because it will show a history of on-time payments.  We wrote an article on credit scores with some additional information.

3.  How do on-going payments work in an index fund?  Inflation is usually 2-3% and no savings account offers anything close to that.  Through investing, over time, you can expect returns around 7%.  Make a deposit into your investment account every month and let it ride.

4.  My wife and I are looking to enter the property market.  After doing so, we’ll still have $20,000-$40,000 left over.  How do we stay ahead of inflation?  Betterment and Vanguard have great returns.  If you don’t need your money to be liquid, Lending Club is a great investment.  It’s not for everyone but it’s worth looking into.  If you’re more conservative, stick with Betterment.

5.  We are considering refinancing through SoFi.  Our rate could fluctuate  up but the term would be reduced.  Is this the right move?  It’s more than likely that interest rates will go up in 2015.  By re-financing now, you’ll pay less and pay the loan off more quickly.

Thanks for the questions everyone.  Keep sending them in.

Show Notes

Betterment: The smart way to invest.

Flying Fish Red Fish: A hoppy red ale.

LMM Toolbox:  Some credit cards we recommend.

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Nov 13 2014

44mins

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Rank #18: How To Retire Early with Mr. Money Mustache

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Do you dream of retiring early? We interview the expert in early retirement, Mr Money Mustache. We must learn his ways.

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Sep 08 2014

58mins

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Rank #19: Habits and Thomas’ Ridiculous Morning Routine

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Your morning routine can make or break your day. It can set you up for a good mood and good productivity or send you screaming back under the covers.

 Not all of us are morning people.  But you don’t have to be one in order to organize a routine that will set you up for a productive day.

 Thomas is a freak who starts his day at 5:50 and finishes thirteen habits practically before the sun comes up.  He wasn’t born that way which means any of us could do the same.  It’s a routine that has evolved over time.

 How does Thomas get up so early?  He has monetized sleeping in.  If he doesn’t get up, he stands to lose $30.  Not worth it.

 These don’t all have to be monumental habits.  It can be something as simple as taking your vitamins every morning.  Or just getting up fifteen minutes earlier so you can relax into your day rather than rushing around all flustered.

 They don’t have to number into the teens either.  Start small.  Wake up early and drink a cup of warm water with the juice of half a lemon in it.  Lemon water is crazy good for you and is a small, easy thing that will make a big difference.

 We have a series of podcasts and articles that list some great productivity apps.  There is nothing wrong with having a little help and prompting until the things you want to get done become habits.

Remember, start small but keep at it.  Once you become a morning person with good habits, you will notice lots of positive changes in your life.

Show Notes

Buffer: A social media scheduling tool.

Dogfish Head World Wide Stout:  A dark, roasty ale.

HabitRPG:  A super geeky way to help you build habits.

Photo Credit:  https://www.flickr.com/photos/redheadeb/2861685318

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Jan 07 2015

56mins

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Rank #20: 22 Life Changing Lessons From Warren Buffett

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The Oracle of Omaha is a font of wisdom. He is perhaps the most successful investor in history. So he knows a lot of lessons we can all benefit from. Here are 22 life-changing lessons from Warren Buffett. Whether you want some words of wisdom on investing or how not to be a better person, there are Warren Buffett quotes to guide you.

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Jun 05 2017

57mins

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