Cover image of Listen Money Matters - Free your inner financial badass. All the stuff you should know about personal finance.
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Rank #25 in Investing category

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

Updated 12 days ago

Rank #25 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

2053 Ratings
Average Ratings
1586
191
72
77
127

Solid, topical, financial info

By DRCdrums - May 11 2020
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Listen Money Matters presents important Financial information in an easy-going, informal style. The Topics are relevant and wide ranging. Great stuff if you’re just getting started, looking to tune up your financial situation, or just wanna keep on top of what you are already have in place.

Best Personal Finance Podcast

By Jared B from WA - Mar 29 2020
Read more
Easy to follow, entertaining hosts and a ton of valuable information.

iTunes Ratings

2053 Ratings
Average Ratings
1586
191
72
77
127

Solid, topical, financial info

By DRCdrums - May 11 2020
Read more
Listen Money Matters presents important Financial information in an easy-going, informal style. The Topics are relevant and wide ranging. Great stuff if you’re just getting started, looking to tune up your financial situation, or just wanna keep on top of what you are already have in place.

Best Personal Finance Podcast

By Jared B from WA - Mar 29 2020
Read more
Easy to follow, entertaining hosts and a ton of valuable information.
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 May 11, 2020

The Best Episodes Ranked Using User Listens

Updated by OwlTail 12 days ago

Rank #1: 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 #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: 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

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: 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

Play

Rank #8: How to be Lazy and Still Pay Off Your Debt

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There are a lot of things that deserve your energy but paying off debt isn’t one of them. If you have debt, it can feel hopeless. But you can get out of debt, and it’s easier than you think. We can show you how to be lazy and pay off your debt.

 An All-Time Record

 If you have debt, you’re not alone.

Total household debt—a category that includes mortgages, student loans, and car loans along with credit card and other debt—dipped in the wake of the Great Recession, but it has since steadily rebounded in the years since.

Overall, Americans’ debt hit a new high of $13 trillion last year, surpassing the previous record set in 2008 by $280 billion, according to the New York Fed.”

Not all debt is the same. Mortgage debt, for instance, is typically low-interest debt and a home can be an investment. It’s the other kinds of debt, credit cards, student loans, that can hinder all of your long-term financial goals.

So let’s tackle that kind of debt once and for all, and be lazy while we do it.

Paying off debt is a process

Paying off debt is a process, and there are several steps. These steps can take a while to accomplish.

You didn’t accumulate this debt overnight, and you’re not going to pay it overnight.

Face the Music

It’s terrifying to sit down and total up just how much debt you’re in, but that is the first step if you want to pay off your debt. Make a list of all of your outstanding debts and the interest rate on each. The best way to see all of your debt is in your Credit Karma account.

Not only will you see all of the debts but you’ll be able to see your credit report and credit score too. It’s free to make an account so do that now if you don’t already have one.

Go through your credit report and make sure all of the listed debts are legitimate. There are a variety of reasons debts that aren’t your’s can end up on a report. If you find debts that are not your’s, you can dispute them.

Consult Your Budget

What’s that? Don’t you have a budget? Well, go to Personal Captial and get a good overall picture of your finances and your spending.

How much money do you have coming in compared to how much is going out?

Do you have any money that isn’t going out?

Your budget is going to identify the cash you can use to pay off your debt. You should be dedicating at least 20% of your income to paying off your debt.

Once you have a month’s worth of budget data, go through it with a fine-toothed comb. Where are your spending leaks?

Saving money is easier than making more money, so if you want to be lazy and pay off your debt, this is the best place to do it, by cutting your budget.

Let Trim find and cancel expenses like gym memberships you don’t use and subscription services you can’t afford when you have debt to pay off.

Let Billshark negotiate better rates for things like your cable and internet service. Every dollar you save is an extra dollar you have to pay off your debt more quickly.

Triage the Damage

Are you behind on any payments but not so far behind that...

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Jan 16 2017

52mins

Play

Rank #9: How We're Investing Our Money This Year

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We’re often asked where we are putting our money and, that question has never been more important to us personally. Especially considering the direction the winds are blowing and our feelings with what is happening in the world. We'll be talking about how we're investing our money this year and what is coloring our decisions.


Show Notes

The Golden Butterfly Investing Strategy

Fundrise Real Estate Investing

Our Investing Blueprint

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Jan 06 2020

56mins

Play

Rank #10: 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 #11: How The Hell Does Someone Save Up For a House?

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Buying a home is still the American dream for many people but with home prices going up and up, how can you save up for a house without sleeping in your car? With the median home price in the U.S. at $188,900, it seems impossible. How the hell does someone save up for a house? Buying a home is such a part of the American dream. It seems like once you reach certain milestones that are considered part and parcel of being an adult, every which way you turn, someone or something is telling you to buy a house, you must buy a house! But should buying a home still be a part of the American dream?

Full Article Here

Show Notes

Dead Guy Ale: An ale aged in whiskey barrels.

Stick's Pale Ale:  A sessionable pale ale.

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Aug 06 2018

54mins

Play

Rank #12: Fearless Salary Negotiation Tips With Josh Doody

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Many people are afraid to negotiate be it for a raise or a salary offer for a new job. Josh’s approach is to follow a process that will allow him to accomplish the thing he is afraid of. If you can break something down into steps and just follow the steps, suddenly you’ve done it.

When it comes to getting a raise, most of us could do better. Today we talk fearless salary negotiation tips with Josh Doody.

Full Article Here

Show Notes

Imperial Donut Break: An Imperial Porter from Evil Twin Brewing.

Salary Negotiation Sample Email: To counter offer once you have a job offer.

Salary Increase Letter Sample: Asking for a raise.

Josh's Twitter: You can reach him here.

Fearless Salary Negotiation: Josh's site.

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Feb 27 2017

1hr 10mins

Play

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

Play

Rank #14: How to Create and Prioritize Your Financial Goals

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It’s hard to know how to prioritize your financial goals. Personal finance is personal, so there isn’t one answer for everyone. It’s important to understand how to prioritize your financial goals and help you figure out what to focus on first.

 Should you start an emergency fund or save for retirement? Pay off debt or start investing? Everyone will give you different advice, and it can get confusing.

 Know What You Want

 You can’t do anything meaningful until you decide on some goals for the short term (this month), medium term (next 3-6 months) and long-term (1-2 years). What stage are you at in life and where do you want to be?

 Your financial goals can be buying a new home, saving for college, starting a family or creating an emergency fund.

 When you take this step, it’s important to think about both your short-term and long-term goals.

 Perhaps you want to plan a family vacation to Europe within the next five years. Or, you may wish to have enough of a buffer in your finances so that you and your significant other can afford to go out for a nice dinner every couple weeks.

 No matter your vision, be sure to create SMART goals.

 For example, how much should you have budgeted before you begin planning your trip? Or, how much money would you like to spend each time you go out to dinner?

 To that end, it is critical to tie real numbers to your goals. You should also have a feasible timeline for when you would like to accomplish each goal. It’s OK to be ambitious, but you should also avoid setting yourself up for failure by giving yourself far too little time to reach your goal.

 No matter what they are, it’s time to get ideas out of your head and make a list. Writing down your goals is critical. However, you should also make a habit of revisiting your goals and making sure you are on the right track. If so, remain consistent and do not let yourself get complacent.

 If you’re not currently on track, remember why you set your goals in the first place and find ways to get to where you want to be. Don’t be too hard on yourself — change is hard, and many people fail several times before they find the right formula for success. If you get off track, the best thing you can do is make some adjustments right away.

 Prioritize Your Important List

 Once you have figured out your goals, give priority to each of your personal goals in order of importance, and then determine how long you have to save for each of them.

  Remember to put your oxygen mask on first. Debt destruction is probably more important than kids college fund. Putting your retirement on track is more important than buying a new car. Debt is costing you money and will move you figure away from your goals. If it’s more than you can handle debt consolidation or refinancing could help you out of the hole.

Having an emergency fund is so important. Unfortunately almost half of Americans couldn’t come up with $400 if an emergency came up. A good rule of thumb is having 3-4 months of your salary in a savings account and then contribute to an investment account like Betterment.

Making more money can help you get to your goals faster. Not everyone has the time for side hustles so if you are looking to make some extra cash, every month then asks for a raise. Salary negotiation can be scary, but studies show that people who ask for a raise make more money than those who don’t.

Know What You’re Worth

Asking for a raise can be difficult,

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Aug 15 2016

45mins

Play

Rank #15: Why Rich People are Cheap

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Accordingly to the Fidelity Millionaire Outlook Survey, 86% of millionaires are self-made. Even more remarkable, 78% of them started out as middle class or poor. Only 22% grew up in the upper class. That means that the vast majority of millionaires built their wealth the old fashioned way: hard work, consistent saving and investing in the long-term.

We’ll explain why rich people are cheap and how you can adopt their simple habits to become a millionaire yourself.


Show Notes

Warren Buffett Documentary HBO

Honey

MrBeast Spending 1,000,000 in 24 Hours

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Jan 13 2020

54mins

Play

Rank #16: 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

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Rank #17: 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 #18: 5 Questions: Frugality, IRAs and Saving in College

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We get a lot of great questions from listeners and readers. And if one of you asks a question, dozens of other people have the same question. In order to reach you all, we like to do five questions episodes. So here they are, five awesome questions from you! Is there such a thing as being too frugal, Betterment or Vanguard, how can you save money in college, what should you do with an IRA, where should your emergency fund live? We’re going to find out.

Full Article Here

Show Notes

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

Simple Wealth: Research and evaluate rental properties.

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Nov 06 2017

54mins

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Rank #19: 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 #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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