Paychecks & Balancesactive
Whether it's getting out of debt or getting a new job, Rich & Marcus have you covered. Join them as they take a fun and relatable approach to personal finance and career advice for millennials.
Premiere Date |
2016-03-08
Related Hashtags |
#millennials ,
#money ,
#PayBal ,
#personalfinance
Frequency |
Weekly

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106 Episodes Available

Average duration:00:47:47

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It's 6-months into the year. Do you know where your finances are? Well, we declared our positive affirmations and #FinGoals for 2018 on PB80: It’s Never Too Late to Get Started. For your benefit and ours, we're going back to the future with a much needed Mid-Year Resolutions revelation to see where we have been winning, slipping, and where we need to make some in game adjustments (unlike Tyronn Lue!) to get back on track. On this episode, we'll discuss the art of the win and how you too can set yourself up for the mid-year come back or maintain your wins into the second-half of the year. It's never too late to get on track. If you haven't set your personal financial goals for the year, there's no time like the present. Let's get it!

  • We share that even your losses can help you learn more about yourself and your financial priorities
  • Tailor your work-life to align with your peak productivity hours to stand out from the competition
  • Why even modest investments in your 401k in your 20s might make the difference between retiring as early as your 40s or as late as your 60s
  • How to fund your "emergency fund" so major financial emergencies are only minor budgetary inconveniences
  • Inspired by Good to Great, Marcus shares the 'big audacious hairy goal' he hopes to reach by age 40 and the exact investment steps he'll need to take to get there

References Mentioned in this Show

Thank You for the Support

  • Exclusively for our email subscribers, we created a free guide: The 15 Minute Paychecks Balances Money Plan: Your Guide to Financial Freedom. This tool includes “15-minute” plans for creating a budget, starting your debt freedom plan, and finding your FIRE number. Sign-up to get your guide today and see why just 15-minutes can change the next 15 years of your life. You'll also get show updates, digital giveaways, and much more. We don’t spam. We just keeps it real. Yes, keeps.
  • Powered by NerdWallet PaychecksAndBalances.com/Tools has calculators and widgets for all your personal financial needs!
  • Marcus has joined the GoBankingRates "Smart Money Squad"! Visit PaychecksAndBalances.com/GBR to learn more.
  • Check out the Debt Free Or Die Trying series to learn how Marcus paid off $30,000 in debt by age 30; and how to create a debt free plan you’ll actually follow.
  • Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.
  • LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances @IamRichJones @THEMarcusGarret and Instagram.
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This week we’re sharing our conversation with Liz Weston on everything credit. This is the deep dive you didn't know you needed! Liz is a Columnist and Certified Financial Planner (CFP) whose goal is to help us get smarter about money. She's the author of five books including the best-selling "Your Credit Score: How to Improve the 3-Digit Number That Shapes Your Financial Future." Her “Money Talk” column appears throughout the country, including the Los Angeles Times and she has appeared on TV shows, such as CNBC’s Power Lunch, NBC Nightly News, and the Today Show. On this show, Liz lends her expertise to help us cover the truth about credit including:

  • Why most people don't know they have hundreds of credit scores and that the FICO8 is the most commonly used by lenders
  • The surprising, hidden cost increases your credit score might have on bills ranging from insurance, cell phone, to the down payments on your apartment and cable bill
  • One mistake you can make that can lower your credit score over 100 points in one month
  • Tips for rebuilding and repairing your credit history and credit score
  • What credit utilization percentage and age you should use to determine when a consolidation loan or bankruptcy is the better option

Sponsor

Special thanks to our sponsor, FreshBooks. To get a free 30-day trial of their super-easy-to-use cloud accounting software, visit freshbooks.com/paychecks and enter “paychecks and balances” in the How Did You Hear About Us section.

References

Liz Weston

Other Helpful Tools Info

 

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Today Candice Marie has a positive net worth, savings, investments and paid off over $47,000 in debt! This wasn't the case just six years ago when she didn't want to check her net worth because she knew it was in the negatives. While some of us worry about living paycheck-to-paycheck, Candice had to get use to a no-check-to-no-check lifestyle after struggling for years to find steady work after graduating college. Rather than get discouraged, she used this as an opportunity to become self-taught about personal finance. She began sharing her experiences through Young Yet Wise. The network she built and stories she shared there helped motivate her to stay on track and learn more about smart money management. She joins Paychecks Balances this week to give you realistic tips for reaching your own financial goals.

[bctt tweet="Financial freedom means "living life on your own terms." - @YoungYetWis3" username="PayBalances"]

  • How focusing on net worth versus just debt and savings management helped motivate her to reach her financial goals
  • Candice saved $1,000, began investing with only $1,000, then focused on paying down her debts
  • Why she chose the Snowball method when tackling her Student Loans
  • The apps and tools she recommends for tracking and managing your investments and financial goals
  • Visit her website to sign-up for her free 5-day money challenge to jump start your own journey to financial freedom

References Mentioned in this Show

Announcements

Thank You for the Support

  • Exclusively for our email subscribers, we created a free guide: The 15 Minute Paychecks Balances Money Plan: Your Guide to Financial Freedom. This tool includes “15-minute” plans for creating a budget, starting your debt freedom plan, and finding your FIRE number. Sign-up to get your guide today and see why just 15-minutes can change the next 15 years of your life.
  • Read Marcus’ book series, Debt Free Or Die Trying, to learn more about how he paid off $30,000 in debt by age 30; and how to create a debt free plan you’ll actually follow.
  • Looking for more free career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.
  • We’ve partnered with NerdWallet for all your personal finance needs at PaychecksAndBalances.com/Tools
  • Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.
  • LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances @IamRichJones @THEMarcusGarret and on Instagram.
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There's levels to adulting and someone lost the instruction book, but we got you! This week Rich and I talk about the steps we followed in pursuit of financial independence. You'll hear how even simple changes in your day-to-day routine can lead to huge financial wins in the year-to-year. Plus, hear a quick four-step way to estimate your your own financial independence number. Like always, we keeps it fun, informative and simple. On this episode we cover:

  • What we've learned and applied that allowed us to Level Up on our own personal financial game
  • Three steps you can apply immediately to jump-start your own journey towards financial independence
  • The order you should apply when budgeting, managing your debt (school loans versus credit cards), and retirement planning
  • Boss Level: The Big Payback - estimate when your early investments in time and work will start to return multiple or residual income streams

References Mentioned in this Show

Announcements

Thank You for the Support

  • Exclusively for our email subscribers, we created a free guide: The 15 Minute Paychecks Balances Money Plan: Your Guide to Financial Freedom. This tool includes “15-minute” plans for creating a budget, starting your debt freedom plan, and finding your FIRE number. Sign-up to get your guide today and see why just 15-minutes can change the next 15 years of your life.
  • We’ve partnered with NerdWallet for all your personal finance needs at PaychecksAndBalances.com/Tools
  • Looking for more free career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.
  • Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.
  • Read Marcus’ book series, Debt Free Or Die Trying, to learn more about how he paid off $30,000 in debt by age 30; and how to create a debt free plan you’ll actually follow.
  • LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances @IamRichJones @THEMarcusGarret and on Instagram.
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Jeff Johnson has been seen covering red carpets and press junkets for various outlets including NBC News and The YBF. Jeff also hosts the “NonStopCulture Show." A podcast and YouTube show discussing the latest in pop culture and digital media. He is also an on-air host FanBros and correspondent and producer for Bleacher Report. RTs are not endorsements but the views and waves are (allegedly) his. We brought Jeff on the show to tells us how he transitioned from content corporate guy into his dream job. Here's what he told us:

  • Tailoring your resume(s) for the job you want not the job you have
  • The career building advice he offers anyone looking to transition into another field even if they are not getting direct experience at their present job
  • How proactive career planning ensured he was ready to answer when his dream job called even though he wasn't positive when that opportunity would finally knock
  • A couple corporate horror stories that many of us can unfortunately relate to when he knew it was time to move on to another career
  • Why when you work a 9-to-5 you love it doesn't feel like work, proving that time really does fly if and when you're having fun

References Mentioned in this Show

Announcements

  • Click here to read Rich's tips on how for identifying and leveraging transferable skills on the Jopwell.

Thank You for the Support

  • We’ve created a new free guide exclusively for our email subscribers: The 15 Minute Paychecks and Balances Money Plan: Your Guide to Financial Freedom. The free document includes “15-minute” plans for creating a budget, starting your debt freedom plan, and finding your FIRE number. Sign-up to get your free guide today and see why just 15-minutes may change the next 15 years of your own journey to reach financial independence.
  • We’ve partnered with NerdWallet for all your personal finance needs at PaychecksAndBalances.com/Tools
  • Looking for more free career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.
  • Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.
  • Read Marcus’ book series, Debt Free Or Die Trying, to learn more about how he paid off $30,000 in debt by age 30; and how to create a debt free plan you’ll actually follow.
  • LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances @IamRichJones @THEMarcusGarret and on Instagram.
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In our final week of Financial Literacy Month, Tela Holcomb joins us to discuss the stock market in plain English. Yes, we asked her about Bitcoin!

But first, Tela is a stocks and options trader, mom, and wife who is focused on spending the most of her time living the life she loves. Before achieving this freedom, like many of you, she was dependent on a paycheck from the 9 to 5 to pay her bills. That was cool, but she wanted to have more time to spend with her family, friends, and travel not just climb someone else's corporate ladder. Her escape plan? In 2009 she started teaching herself how to trade the stock market. Just 5 years later, she reached financial freedom and escaped the corporate matrix! On today's show she will help you learn:

  • An easy way to use stock charts to rebalance your 401k/IRA to maximize your returns
  • Tips for managing your emotions so you can choose a proven investment system that will make you more money
  • Investment Tools for setting up your investment journey to maximize the success of your short- and long-term financial goals
  • The difference between active and passive investment and how both can help you achieve your financial goals
  • Using your personality to determine the risk tolerance and investment type best suited for your lifestyle and how to answer the question: do I want to trade or invest?
  • Websites, tools, and resources you can use to safely practice investing before using your own money

[bctt tweet="Do you want to be a trader or investor? When you make an informed decision it's not gambling, it's a smart investment decision. - @TelaHolcomb" username="PayBalances"]

Financial Literacy Month: Tela's recommended Action Items:

  • Get Smart on your 401k. Meet with your company or financial advisor or use Tela's investment hacks to ensure your 401k is properly balanced and aligned with your financial goals.
  • Pay Off Debt. If you're tired of the 9-to-5, reducing your debt is a great start to turning the hobby or side-hustle into your next full-time job. Don't allow debt to hold you back from your dreams any longer.
  • Find Your People! Surround yourself with like-minded people that are interested in seeing you improve. This can be online (groups, forums, etc.) or off-line (networking, conferences, etc.) but be sure to find people that support and push you towards your goals rather than distract or discourage.

 

References Mentioned in this Show

Announcements

  • If you're a Mint user or considering signing up, check out Marcus' piece for GoBankingRates and featured on YahooFinance.com, I Used Mint Wrong for Years and You Probably Are Too.
  • We’ve created a new free guide exclusively for our email subscribers: The 15 Minute Paychecks and Balances Money Plan: Your Guide to Financial Freedom. The free document includes “15-minute” plans for creating a budget, starting your debt freedom plan, and finding your FIRE number. Sign-up to get your free guide today and see why just 15-minutes may change the next 15 years of your own journey to reach financial independence.

Thank You for the Support

We’ve partnered with NerdWallet for all your personal finance needs at PaychecksAndBalances.com/Tools

Looking for more free career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.

Read Marcus’ book series, Debt Free Or Die Trying, to learn more about how he paid off $30,000 in debt by age 30; and how to create a debt free plan you’ll actually follow.

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances @IamRichJones @THEMarcusGarret and on Instagram.

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Our National Financial Literacy Month guest interviews continue! This week we welcome back former PB guest J.D. Roth (ICYMI – PB34: Become a Money Boss ft. J.D. Roth). J.D. is a recognized personal finance expert who has written for Forbes and recently returned to writing for his popular and insightful personal finance website, Get Rich Slowly.org. On this episode he helps you and us explore a different way to view money with a focus on saving you more of it. Your money mindset matters! We also discuss:

  • What he learned having already experienced the FIRE lifestyle
  • The motivation for re-launching GetRichSlowly.org and what readers can expect to learn this time around
  • Tips for identifying your passion and turning it into a business with multiple income streams so you too can achieve financial independence
  • Why personal finance doesn't have to be complicated if you follow the hundred-year-old rule of spending less than you earn and investing/saving the gap
  • Advice for finding your financial balance, so you can both enjoy today and save for tomorrow

[bctt tweet="GetRichSlowly.org is meant to help and inspire people to achieve whatever financial goals they may have. - @JDRoth" username="PayBalances"]

Financial Literacy Month: JD's recommended Action Items:

  • Self-Reliance. Rely on yourself to fix your problems with the positive affirmation of, "I am in charge of my life." Don't pay attention to others financial journey. Do what works for you.
  • Be Proactive. Don't let life just happen to you. Take charge of your life by identifying short-term (1-3 months) and long-term (3-months and beyond) goals you want to accomplish.
  • You, Inc. View your own personal finances like a business. Only three expenses account for 50-70% of the average household's expenses. Saving, budgeting, and living within your means are how you build a profit for yourself. Maximize your personal profits by spending less than you earn or earning more than you spend. Use the gap between income and spending to invest in yourself to accelerate your profits and financial freedom.

References Mentioned in this Show

Announcements

  • We’ve created a new free guide exclusively for our email subscribers: The 15 Minute Paychecks and Balances Money Plan: Your Guide to Financial Freedom. The free document includes “15-minute” plans for creating a budget, starting your debt freedom plan, and finding your FIRE number. Sign-up to get your free guide today and see why just 15-minutes may change the next 15 years of your own journey to reach financial independence.

Thank You for the Support

We’ve partnered with NerdWallet for all your personal finance needs at PaychecksAndBalances.com/Tools

Looking for more free career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.

Read Marcus’ book series, Debt Free Or Die Trying, to learn more about how he paid off $30,000 in debt by age 30; and how to create a debt free plan you’ll actually follow.

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances @IamRichJones @THEMarcusGarret and on Instagram.

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Continuing our guest interviews for National Financial Literacy Month April 2018, we welcome back Tonya Rapley (ICYMI - PB29: My Fab Finance ft. Tonya Rapley). Since the last time she was on our show, Mrs. Rapley has secured several bags. For the newly acquainted, Tonya is the millennial money expert and creator of the award-winning site, MyFabFinance.com. In 2014 she was deemed the “New Face of Wealth Building” by Black Enterprise Magazine and her site has been voted the best finance blog for women. She joins us this week to help discuss this week's Financial Literacy theme: Eliminating Debt.

  • Tonya's motto is "never stop learning." She explains how this mantra has helped her pursuit of happiness
  • The importance of surrounding yourself with the right people and how 'building the right team' can be the difference between doing good versus doing great
  • #BanishTheBalance: challenges you to create financial boundaries and allows you to join a community of like-minded individuals motivated to remove debt from their lives
  • How she overcame the new challenge of managing 'business debt' and the lesson she learned about herself and maintaining financial rigor even after you achieve financial success

References Mentioned in this Show

Announcements

  • We've created a new free guide exclusively for our email subscribers: The 15 Minute Paychecks and Balances Money Plan: Your Guide to Financial Freedom. The free document includes "15-minute" plans for creating a budget, starting your debt freedom plan, finding your FIRE number, and as an added bonus, a career checklist that helped us increase our salary over 400%. Sign-up to get your free guide today and see why just 15-minutes may change the next 15 years of your own journey to reach financial independence.

Thank You for the Support

We’ve partnered with NerdWallet for all your personal finance needs at PaychecksAndBalances.com/Tools

Looking for more free career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.

Read Marcus’ book series, Debt Free Or Die Trying, to learn more about how he paid off $30,000 in debt by age 30; and how to create a debt free plan you’ll actually follow.

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances @IamRichJones @THEMarcusGarret and on Instagram.

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Kicking off National Financial Literacy Month 2018 right, we're joined by Paula Pant of the Afford Anything website and podcast. When Paula graduated from college she did what society expected: she got a regular schmegular job. But, like many of us, she soon realized that working a 9 to 5 -- even at a job she loved -- deprived her of something even more valuable: personal freedom. Paula set out to become financially independent and along the way she discovered you can afford anything (but not everything). This week she shares her secrets for how you too can prioritize your financial habits to ensure you can live the life you want with the time you have, the one thing you can't replace. Our discussion covers:

  • How Paula saved $28,000 on an income of less than $30,000 by prioritizing financial freedom over living paycheck-to-paycheck
  • The importance of tapping into the emotional side of your goals to maintain the fuel you'll need to succeed
  • How to "grow the gap" between what you earn and what you spend by identifying your values and using investments to supplement your income
  • Realizing that nothing is free and why assigning your personal values to your spending is equally important as knowing your fixed expenses
  • Why your biggest gains in savings can come from covering or keeping your rent/mortgage fees as low as possible

In the spirit of Financial Literacy Month, this week's Action Items:

  • Get clear on your values by aligning your spending with what's important to you
  • Reduce fixed / unnecessary expenses for your greatest wins (two categories - housing and transportation - are 50% of the average American's expenses)
  • Expand your network by joining like-minded people in related networking programs/conferences
  • Grow the Gap between what you earn and spend with investments becoming your safety net
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On this week's PB Money Minute we discuss how to save 1x your income by age 30 and 3x by age 40 using a few automated tools we recommend. Marcus reveals why he finally logged back into his retirement accounts after a 12-month hiatus and the three step process you can follow to potentially increase your retirement savings without impacting your takehome pay. Plus, the automated tools you can use to make retirement savings easy. On this show we'll explain:

  • Maximizing your tax cut to supersize your annual IRA/401k savings
  • How one change in how you invest in your 401k combined with an employer-match might net you up to $70,000 by retirement
  • Why Investor.gov has become our new fav tool for quickly estimating FI/RE, compound interest, and retirement savings goals
  • The pros/cons of investing in a Retirement Target Date Fund versus an Index Fund
  • Why compound interest on savings from ages 20-40 might have more impact on your retirement than your contributions from ages 40-60

 

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Rich brings back the This Week in Work segment, covering the importance of staying ready in life and at work. Our discussion covers: What to do when your company is downsizing or you might be facing a potential layoff Why you may want to consider having TWO RESUMEZ for internal and external job applications How updating LinkedIn Quarterly can separate you from your competition Don't forget your ABCs - Always Be Connecting: access the hidden job market available to those who prioritize networking and mentoring in their careers References Mentioned in this Show PB81: Don’t Leave Money on the Table ft. Jeanie Ahn Forbes: Employees Who Stay In Companies Longer Than Two Years Get Paid 50% Less
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This week we welcome, The Dude. No, not The Big Lebowski but of equal reverence, The Early Retirement Dude. ER Dude shares the secrets behind how he retired 12-years ago at the age of 36 and never looked back. Mastering financial independence isn't easy, but with the right plan, he believes almost anyone can repeat his formula for success. You won't even need a special blend of 13 secret spices. You just need to:

  • Clearly define your purpose: why do I want to retire early and if I succeed at my plan, what will I do in retirement (to overcome the inevitable boredom)?
  • Decide whether you really want to retire, or do you just need a different career field that actually motivates you?
  • How many of your current costs are fixed versus would be avoided or lowered if you worked from home?
  • Are your financial goals and lifestyle more aligned withLean FIRE or Fat FIRE retirement saving goals?

Sponsors:

  • Health IQ – An insurance company that helps health-conscious people get lower rates on life insurance.  Go here to support the show and see if you qualify.

References Mentioned in this Show

Thank You for the Support

We’ve partnered with NerdWallet for all your personal finance needs at PaychecksAndBalances.com/Tools

Looking for more free career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.

Read Marcus’ book, Debt Free Or Die Trying: How He Buried and Dug His Way Out Of Over $30,000 in debt by age 30 on Amazon!

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances @IamRichJones @THEMarcusGarret and on Instagram.

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This week we're joined by Jeanie Anh of @YahooFinance. Some of you will remember Jeanie from our feature on CBS New's “Your Money Matters” panel. Jeanie is a reporter senior producer who specializes in making personal finance and career guidance fun by helping viewers make smarter money moves! She joins us to discuss how to successfully make multiple career transitions and the importance of salary negotiation, as well as tips for preparing for your next career and salary negotiation. This episode includes:

[bctt tweet="Your annual self-evaluation should be the best story you write all year. - @Jeanie531" username="PayBalances"]

  • Navigating multiple career changes along your "path of discovery" that doesn't follow the traditional career pathway
  • Using certifications, mentorships, and networking for cheaper alternatives to personal development and continued salary growth
  • Defining your plan and developing a budget focused on your goals and personal priorities
  • Preparing for a job interview and making the salary negotiation conversation less intimidating

Sponsors:

  • LinkedIn Learning – Get a free 30-day trial of online courses galore by clicking here.
  • Health IQ – An insurance company that helps health-conscious people get lower rates on life insurance.  Go here to support the show and see if you qualify.

References Mentioned in this Show

 

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A goal without a plan will remain a dream without a reality. On this week's show, we talk about the importance of clearly defining your goals and the small differences that define why some people succeed while others procrastinate. Using a variety of practices, like SMART (Specific Measurable Achievable Realistic Timely) and project management Apps and systems, Rich and Marcus share how they've defined their 3- to 5-year plans and the lessons learned from past successes (and failures). Tailor to your needs, because in the end, the best plan is the plan that works. Topics covered on this week's show:

  • The Side Hustle Account - How Rich uses multiple accounts to clearly define and track his financial goals for the year and how much money he has available to allocate to each.
  • Using Credit Cards to Make You Money - We talk about the importance of finding a credit card that matches your lifestyle. Used responsibly - paid in full each month - some credit card points and rewards might even save or make you money during the year.
  • Long-Term Monies - Once you've got your financial affairs in order it's time to start thinking about investments, retirement, and other personal finance needs. We share the steps we plan to take with our (employer-sponsored) 401ks for 2018 and beyond.
  • Enjoy the Journey - Lastly, as we discussed on PB78: Her Money Matters with Jen Hemphill, what good is money if you don't enjoy it? We end with a discussion on how PB plans to give back after using our 20s to learn, 30s to apply, and 40s to teach and pay it forward.

What are your money and life goals for 2018 and how do you plan to achieve them? Let us know in the Apple Podcast reviews or ASKPB if you need more help planning your plan.

Sponsors:

  • LinkedIn Learning - Get a free 30-day trial of online courses galore by clicking here.
  • Health IQ - An insurance company that helps health-conscious people get lower rates on life insurance.  Go here to support the show and see if you qualify.
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We got 99 problems but a credit ain't one. We originally met Liran Amrany at FinCon2017, where we learned he is the co-founder and CEO of Debitize, a personal finance application that helps consumers use credit cards responsibly. How does it work? Debitize automatically helps customers set aside funds to cover their credit card purchases like a debit card while still allowing users to access the benefits, protections, and perks of their credit cards. Before founding the tool, he spent 9 years developing derivative products for The Man at J.P. Morgan. On this show, we discuss his plot for financial world domination and much more, including:

  • Liran's background and what inspired him to leave the 9 to 5 to pursue his own company
  • His journey from mild-mannered employee to CEO of his own entrepreneurial start-up despite never having had direct management experience before leaving the day job
  • The courage needed to believe in yourself as you move from corporate worker to self-employment, managing a team, and meeting investor expectations
  • Debitize: reducing the fears many have of credit card use while giving you all the pros (and still protects you from yourself by not allowing you to overdraft your account)

References Mentioned on this Show

Announcements

 

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Now that you're recovering from the holidays and financial binging, we've got just the spend-over relief you need with our first episode of 2018. We're joined by Jen Hemphill of the Her Money Matters podcast. Jen is a military spouse bilingual Latina who helps women who are tired of the traditional money advice break out their inner financial confidence so they can claim their own unique version of financial freedom. She is also an Accredited Financial Counselor (ACF). As a money coach, Jen believes that money should enrich your life not stress you out! Your money mindset is the foundation for your success with money, and money skills like budgeting, saving, etc. are the bricks that provide the foundation for building a strong financial “home.” On this show we cover:

  • The real misunderstanding people have when it comes to budgeting
  • Breaking the cycle of working hard but never seeming to get ahead financially
  • How "expert advice" may harm your money and how to develop a plan that works for your lifestyle
  • Why celebrating your money wins is as important to your continued success as developing a financial plan
  • HMM 127: Seven Ways To Improve Your Financial Confidence To Kickstart Your Year

References Mentioned on this Show

Announcements

Thank You for the Support

We've partnered with NerdWallet for all your personal finance needs at PaychecksAndBalances.com/Tools

Looking for more free career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.

Read Marcus’ book, Debt Free Or Die Trying: How He Buried and Dug His Way Out Of Over $30,000 in debt by age 30 on Amazon!

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances @IamRichJones @THEMarcusGarret and on Instagram.

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Paychecks Balances is joined by Michael Hobbes (@RottenInDenmark), author of that viral story you should have already read but just in case you didn't now you can listen to us talk about it, Millennials Are Screwed: Why millennials are facing the scariest financial future of any generation since the Great Depression. Even Generation X and the Boomers receive honorable mentions this week. See ladies and gentlemen of generations past? Gone, but not forgotten! Armed with Michael's 8-plus months of research you'll have the evidence-based facts you needed to throw in the next person's face that inaccurately says Millennials (ages 18-35) have it "easy" based on their cursory reading of clickbait headlines and reimagined facts made-up from biased opinions. We cover a lot on this one but it comes with a happy ending! A non-exhaustive breakdown of the topics covered:

The Surprising (Depressing?) Facts

  • Over 40-percent of Millennials are now mothers.
  • 1 in 5 Millennials lives in poverty.
  • On average, Millennials have 300% more debt than our parents and would need to work 4,000+ more hours to pay for our college educations compared to Boomers.
  • In 2007, more than 50 percent of college graduates had a job offer lined up. For the class of 2009, job offers were solidified for fewer than 20 percent.
  • Over 60-percent of Millennials don't have a college degree.
  • According to one analysis, Millennials won’t be able to retire until age 75 (Note: the average lifespan is currently only 78).
  • On average, Boomers could expect a 6.3% average annual stock return; while Millennials may be forecasted to see as low as 2.9% in their lifetime.

The Solutions

  • Focusing on the "local level" solutions in your city and state
  • Establishing laws that give workers more leverage against companies that treat them as if they’re disposable.
  • Attach benefits to work instead of jobs (i.e. For every hour you work, your boss chips into a fund that pays out when you get sick, pregnant, old or fired. The fund follows you from job to job, and companies have to contribute to it whether you work there a day, a month or a year.)
  • Establish equity of pay (and risks) for employees versus contractors to slow employers rush to contract everyone and everything out just because it's cheaper and more profitable

References Mentioned in this Show

ICYMI

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This Week in Work segment returns! This is the segment of PB where we help you crack the professional code and discuss stories and topics relevant to the workplace. This week we’re talking about five things you can do in 2018 to get both your work and money up. We cover:

  • Using your bonus and merit increases to jumpstart your 401k while lowering your taxable income for the year
  • The benefit of the "electronic envelope system" -- using multiple bank accounts to accelerate and clearly manage your money goals
  • Tips for tracking your annual accomplishments in a way that will help you and your manager prepare for your performance evaluation
  • How certifications and continuing professional education can help you stand out from your peers and competitors
  • The difference between a Personal Advisor, a Mentor, a Coach and the other resources you need to develop in your career
  • Five ways to update your LinkedIn profile from "useless" to "You're Hired"

 

References Mentioned on This Show

 

  • Our Recommended Project Management Tool: Trello

ICYMI

 Announcements

Check out our feature on NBCNEWS.com: Self-taught financial advisers keep it real about money management by writer Mashaun D. Simon

Shout-out to XO Necole for naming us among 11 other great podcasts: 12 Podcasts For Women Trying To Glow Up In 2018

CONGRATULATIONS to @SStarrQuinn! Our winner for our first Paychecks Balances $100 Gift Card Giveaway!

We’ve partnered with NerdWallet for all your personal finance needs at PaychecksAndBalances.com/Tools!

Watch Now: Marcus’ appeared on a CBS News CBSN panel: Your Money Matters covering debt, student loans, and more! Watch the playback at PaychecksAndBalances.com/CBSNOW

Thank You for the Support

Looking for more free career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.

Read Marcus’ book, Debt Free Or Die Trying: How He Buried and Dug His Way Out Of Over $30,000 in debt by age 30 on Amazon!

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances @IamRichJones @THEMarcusGarret and on Instagram.

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This week we're joined by Brian L. Fontenot. Brian is a well-known tech entrepreneur in the Austin, Texas area. He is also a philanthropist,  public speaker, world traveler, and illustrious member of the AΦA organization. We were happy to have Brian on the show to share his perspective on personal finance, open up about his community service passions and BLF Foundation, and provide tips for how you can travel like a baller while staying within your budget.

[bctt tweet="Listen to @BrianLFontenot discuss travel deals, credit cards, and more on PB75: Paychecks on a Plane" username="PayBalances"]

On this show we discuss:

  • The trip that inspired Brian to start a community for travelers to find and share travel deals, ideas, and connections through "Driftr Travels"
  • Intelligent ways you can responsibly use credit cards - paid off in full every month - to reduce or cover your out-of-pocket travel costs
  • How you can use your local Visitor Bureau to find free, cheap deals and "staycation" ideas right within your city or state
  • His views on the importance of education, community service, and giving back through the BLF Foundation and other initiatives

 

References Mentioned on This Show

 

Announcements

Paychecks and Balances Tools: We've partnered with NerdWallet for all your personal finance needs: Visit PaychecksAndBalances.com/Tools for more info and resources!

Watch Now: Marcus’ appeared on a CBS News CBSN panel: Your Money Matters covering debt, student loans, and more! Watch the playback at PaychecksAndBalances.com/CBSNOW

We’re giving away a $100 gift card! Check out PaychecksAndBalances.com/FirstTime for instructions on how to enter to win.

Looking for more free career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.

Read Marcus’ book, Debt Free Or Die Trying: How He Buried and Dug His Way Out Of Over $30,000 in debt by age 30 on Amazon!

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances @IamRichJones @THEMarcusGarret and on Instagram.

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Had too much to think? We recommend you do all things in moderation, including adulting. To help you navigate the balance-side of the work, life, balance equation, we're joined by guest Cody Wheat of the Shots of History podcast to discuss all things alcohol and some things fiscal responsibility. Shots of History explores the history of alcohol one tale-inducing elixir, photo or podcast at a time through interviews stories about the people events that shape what we drink. The motto: "The history of alcohol, one shot at a time." Drink in the knowledge:

  • Why Cody quit his day job and the personal finance habits he followed to prepare pursuit of  his true passion
  • How building an "F.U. FUND" can provide security and stress relief at your job and daily life
  • Beverages on a Budget: mastering "the perfect drink" and matching drinks with your budget
  • A Cody Wheat beverage-making #LifeHack to spice up your next family and friends gathering

References Mentioned on This Show

Announcements

Watch Now: Marcus' appeared on CBS News CBSN Live News Network panel covering debt, student loans, and more on Your Money Matters!

We’re giving away a $100 gift card! Check out PaychecksAndBalances.com/FirstTime for instructions on how to enter to win.

Looking for more free career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.

Read Marcus’ book, Debt Free Or Die Trying: How He Buried and Dug His Way Out Of Over $30,000 in debt by age 30 on Amazon!

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances @IamRichJones @THEMarcusGarret and on Instagram.

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It's LIT! Thanks to this week's FIRE guest, Robert Farrington, America’s Millennial Money and Student Loan Debt Expert. He is also the founder of TheCollegeInvestor.com, which is the #1 resource for helping millennials get out of student loan debt and start building real wealth for their future. The College Investor is designed to be the #1 tool to help get out of student loan debt, learn how to earn more money, understand how to start investing, and build real wealth. We spoke about Robert's "Financial Independence, Retire Early for Non-Frugal Piece" on Episode 66: How to Quicken Your Savings, Reach Financial Independence, and Retire Early. We were lucky enough to catch Robert at FinCon for a live recording covering:

  • Robert's views on the difference between achieving financial independence versus early retirement
  • Why graduates should consider prioritizing paying off your student loans before all other debts
  • Wealth building through FIRE and the difference between "lean" and "fat" FIRE goals
  • How to estimate and calculate your retirement needs and why you might need a "buffer" of up to 30-50% for unforeseen expenses and lifestyle changes

References Mentioned on This Show

Announcements

We’re giving away a $100 gift card! Check out PaychecksAndBalances.com/FirstTime for instructions on how to enter to win.

Looking for more free career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.

Read Marcus’ book, Debt Free Or Die Trying: How He Buried and Dug His Way Out Of Over $30,000 in debt by age 30 on Amazon!

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances @IamRichJones @THEMarcusGarret and on Instagram.

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We're joined this week by guest Lynnette Khalfani-Cox aka "The Money Coach." Lynette is a personal finance expert, television and radio personality, and the author of numerous books, including the New York Times bestseller Zero Debt: The Ultimate Guide to Financial Freedom. Lynnette, an award-winning financial news journalist and former Wall Street Journal reporter for CNBC, has been featured in top newspapers including the Washington Post, USA Today, and the New York Times, as well as magazines ranging from Essence to Black Enterprise.

Her story: Lynnette had $100,000 in credit card debt before paying it all off in three years and turning her financial life around! She has appeared on national TV programs like The Oprah Winfrey Show, Steve Harvey, and Good Morning America teaching millions about responsible money management, and she is frequently seen as a guest commentator on CNN, FOX Business Network, and MSNBC. On another entertaining show Lynette opens up about:

  • The entrepreneurial mindset her father instilled in her growing up and how it shaped her views on work and money management as an adult
  • How her earliest money memory -- seeing her parents argue about money -- changed her approach to money, finding and pursuing your passions
  • Why you "shouldn't quit your day job" when transitioning into entrepreneurship, since your weaknesses as an employee are "amplified as an entrepreneur"
  • Strategies you can use at your 9-to-5, aka Entrepreneur Boot Camp, to set yourself up for success in self-employment
  •  Tips for couples to consider when one or both are considering independent employment

References Mentioned in This Show

Announcements

We're giving away a $100 gift card! Check out PaychecksAndBalances.com/FirstTime for instructions on how to enter to win.

Looking for more free career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.

Read Marcus’ book, Debt Free Or Die Trying: How He Buried and Dug His Way Out Of Over $30,000 in debt by age 30 on Amazon!

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances @IamRichJones @THEMarcusGarret and on Instagram.

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This week we're joined by Ryan Inman of Physicianwealthservices.com and the Financial Residency podcast. Ryan got even more passionate about the field of personal finance when his wife was in residency and she began to pass along information that she received from “financial advisors” trying to sell her products. He found it alarming how vulnerable she was to bad advice and bad investments. Most doctors aren’t married to a financial planner and they end up getting taken advantage of or making catastrophic financial mistakes. He is now a fee-only advisor focusing on helping physicians and others make sound personal finance decisions through transparency and ensuring he keeps the best interest of his clients at the forefront of his mind. We were happy to catch him at FinCon17 for a live recording covering:

  • Term insurance and why investments and insurance should not be mixed or viewed the same, "Investments are investments and insurance is insurance."
  • Who needs insurance and how to determine the type and amount of insurance you or your family need
  • Investment Theory and the key differences between active and passive investing

References Mentioned in This Show

Announcements

Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.

Read Marcus’ book on how he buried and dug his way out of over $30,000 in debt by age 30, Debt Free Or Die Trying, on Amazon.

Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!

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Staying employed at the same company for over two years, on average, can make you earn 50% less over the life of your career according to a recent Forbes analysis. On this week's show, Rich and I discuss the pros and cons of maximizing your money moves and whether job hopping is still frowned upon or a way of life for Millennials. This show covers:

  • How you can strategically "job hop" into the raise your current employer either can't or won't give
  • The average current employee will receive a 2 - 5% raise but new hires can expect to see 10 - 20% increase in salary
  • Steps you can take to have more control over your salary and career path
  • Low-risk ways to determine your job's salary market value every two to five years

References

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Patrice Washington is most well known as the personal finance voice of the top-rated and nationally syndicated Steve Harvey Morning Radio Show where she hosts her own weekly segment, Real Money Answers with Patrice Washington. She is also the best-selling author of Real Money Answers for Every Woman, Real Money Answers College Life Beyond, and Real Money Answers for Men, a featured columnist, television commentator, and leading authority on personal finance, entrepreneurship, and success for women and youth. After losing her fortune in the Great Recession, Patrice dedicated her life to not just rebuilding and reinventing herself, but helping the masses move from debt management to money mastery! We were happy to welcome “America’s Money Maven,” the recurring voice on NBC, FOX News, Black Enterprise, Essence Magazine, on the show where we had a fun time discussing:

  • Patrice's own show, The Redefining Wealth Podcast, with a highlight of her "pillars of success" for finding personal peace, creating financial health, and building wealth
  • How she became a nationally known professional speaker with a #LifeHack for how you can find your own voice
  • The power of saying "no," because what good is money in the hands of a fool (with tips for improving your own financial literacy while keeping more money in your pockets)
  • Accelerating your wisdom through the 'wise counsel' of your mentors and successfully applying what you know

References

Announcements

October: We’ve been selected to speak at FinCon October 25-28th: How to Build a Money Podcast Without Being an Expert (or boring).

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There are two truths we all hold self-evident in our careers: 1) it's always Happy Hour somewhere or 2) performance review season. With these facts of career life in mind, the best time to start your self-evaluation was yesterday and the next best time is today. On our This Week In Work segment we discuss:

  • Salary negotiation: starting at $55,000 versus $50,000 could yield an additional $630,000 in career earnings
  • Why you don't need to fear losing an offer of employment if you make a reasonable salary negotiation or counter offer
  • For employees:
    • How to prepare for and win at your next performance review
    • Why depending only on your Manager to remember your performance for the year is a recipe for disaster
  • For managers:
    • How to use an employee's "self-evaluation" to help develop your review when you've inherited a team or team member(s) from another Manager

References

Announcements

October: We’ve been selected to speak at FinCon October 25-28th: How to Build a Money Podcast Without Being an Expert (or boring).

Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.

Read Marcus’ book on how he buried and dug his way out of over $30,000 in debt by age 30, Debt Free Or Die Trying, on Amazon.

Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!

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It's our first PB BOGO: this week's Money Minute segment show covers lessons learned from Dave Ramsey's and you get a full review on the PB blog: The Total Money Makeover: A Proven Plan for Financial Fitness! Our discussion includes:

  • Are The Total Money Makeover, Envelope System, and Snowball Debt Payment method still relevant for the Millennial (ages 18-34) generation
  • The 14 Personal Finance books we will read (so you don't have to) and breakdown on upcoming shows
  • Why Marcus disagrees that “personal finance is 80 percent behavior and only 20 percent knowledge” - Dave Ramsey
  • The pros/cons and still relevant advice found in The Total Money Makeover (2013)
  • Why "spend more than you earn or earn more than you spend" might be more timely advice for our generation

References

Announcements

ICYMI - A recap of Marcus' presentation for #InternationalPodcastDay is now available on Youtube.

October: We’ve been selected to speak at FinCon October 25-28th: How to Build a Money Podcast Without Being an Expert.

Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.

Read Marcus’ book on how he buried and dug his way out of over $30,000 in debt by age 30, Debt Free Or Die Trying, on Amazon.

Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!

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The Millennials are at it again. Our generation discovered in 20-years what other generations took 40-years to figure out: working your entire life away so maybe you can retire (if you're lucky) is a recipe for suc-sucks! On this episode, we explore #lifehacks and the simple math that can help Millennials hasten their financial independence and retire early enough to actually enjoy our money long before age 67.

  • The History of FIRE” lays the groundwork for our discussion on FI/RE (Financial Independence / Retire Early)
  • TheCollegeinvestor.com shares how you can become Financially Independent while still enjoying your money when you're young
  • Find motivation and money by maximizing savings on the three expenses where the average household spends over 60-percent of their income: home (33%); transportation (16%); and food (13%)
  • The simple formula you can use to calculate the amount of money you need to reach financial independence and why it might be as low as $2,000/mo
  • The monthly totals you need to save each starting at ages 20/30/35/40 to retire early

References

Announcements

September: Tune in for a LIVE presentation of Paychecks Balances for #InternationalPodcastDay on Saturday, September 30th 8pm PST / 10pm CST! Click here for more information and the full schedule.

October: We’ve been selected to speak at FinCon October 25-28th: How to Build a Money Podcast Without Being an Expert (or boring).

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Join us for another LIVE recording session from Podcast Movement 2017 at the FinCon booth with Tyrone Jackson, The Wealthy Investor. Tyrone details the story of how he went from a single parent household that struggled with finances growing up to become a trusted stock market trader and best selling author. From an eclectic background spanning voiceover work to commercial acting, Tyrone went on to build his reputation on a unique ability to simplify stock trading and investing. He is a mentor, trusted wealth building coach, and frequent guest on radio and TV. He has been quoted in the Los Angeles Daily News, MarketWatch, and the San Francisco Chronicle. On this highly informative show we cover:

  • The mentality that separates how millionaires and billionaires approach making money
  • Tyrone's belief that wealth is a feeling first and building wealth is the action of repeating sustainable habits
  • The difference between trading (fast money) and investing (long term) for beginners - "all wealth is 4th grade math"
  • Starting your investment portfolio with just $500 and why debt reduction and wealth building can happen at the same time
  • How you can establish systems that provide residual and passive income

Reference

Announcements

September: Tune in for a LIVE presentation of Paychecks Balances for #InternationalPodcastDay on Saturday, September 30th 8pm PST / 10pm CST! Click here for more information and the full schedule of presenters.

October: We’re happy to announce that we’ve been selected to speak at FinCon October 25-28th!

Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.

Read Marcus’ book on how he buried and dug his way out of over $30,000 in debt by age 30, Debt Free Or Die Trying, on Amazon.

Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!

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Thank God for granting us this moment of clarity, this moment of honesty, but today the world will feel our truth! We took a little time off for #selfcare and personal perspective but we're back with more greatness with a LIVE recording from Podcast Movement 2017. On this special segment, we introduce "Paychecks and Balances presents: Happy Hour." Featured topics include:

  • Our apologies for recording a show under the minor influence of happy hour libations
  • Overcoming your public speaking fears
  • How we grew Paychecks and Balances from hundreds to thousands of awesome followers and listeners like you
  • The power of telling your own story and using it to win in work, life, and money
  • How to maximize your paid-time-off (PTO) to accelerate your hobby from side hustle to full-time job

Announcements

September: Tune in for a LIVE presentation of Paychecks Balances for #InternationalPodcastDay on Saturday, September 30th 8pm PST / 10pm CST! Click here for more information and the full schedule.

October: We’re happy to announce that we’ve been selected to speak at FinCon October 25-28th!

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We turned this week's listener question into a minisode! Let us know what you think in the comments below, or if you have your own question, use the ASK PB button. Justin left a voicemail to ask "when do you know if you're overqualified" and what steps to take when the opportunity for advancement or promotion doesn't exist with your current employer. On this fun episode we respond with tips for:

  • The importance of maintaining transferable and marketable skills since staying employed at the same company for over two years might plummet an employee's lifetime earnings by almost 50-percent
  • Why Cover Letters are losing their importance in some industries and how you can increase your odds for a callback by tailoring your resume or online job profile.
  • How expanding your job search to other cities and states significantly boosts your odds of finding employment.
  • Revisiting how Boolean Searches can help narrow your job search on sites such as LinkedIn, Google Jobs, and others.
  • Using your mentors/coaches and personal network to identify current and future job opportunities.

References

Announcements

We're happy to announce that we've been selected to speak at TWO podcast conferences this year! You can find us at Podcast Movement August 23-25th and FinCon October 25-28th.

Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.

Read Marcus’ book on how he buried and dug his way out of over $30,000 in debt by age 30, Debt Free Or Die Trying, on Amazon.

Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!

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You may remember Donna from our previous episode PB31: Save Where You Can ft. Donna Freedman. Donna's back with a new book, Your Playbook For Tough Times Vol. 2, some great personal finance advice and much more! For those of you who are new here, Donna has been a college dropout, a single mom, a newspaper reporter in Chicago and Alaska, and a late-in-life university student. She has over 20 years of experience writing and helping people on media organizations like MSN Money and popular online publications like our former guest's J.D. Roth's website, Get Rich Slowly. Her passion for helping people is evident on today's show and in the great giveaways she has for our audience. On this episode we discuss:

  • Actionable tips from her new book and why, unlike some other top financial gurus, she doesn't assume your financial situation is always caused by your own doing or bad financial habits
  • The opportunity cost -- money you could spend or invest elsewhere -- of student loans and why students, and parents of students, should always use a student loan calculator before signing any new loan agreements
  • Simple ways and resources you can use to negotiate lower (or free) dental and health care costs
  • How the "four gifts" rule can help you save money on Christmas and birthday gifts

SPECIAL PROMOs FOR PAYCHECKS BALANCES LISTENERS ONLY!!!

  • Click here for a free download of Challenge Yourself to Save the popular and a fan favorite chapter from Donna's first book, Your Playbook For Tough Times: Living Large On Small Change, For The Short Term Or The Long Haul, containing 31 tips you can immediately use to save money today!
  • Click here to visit Donna's direct platform and enter discount code PAYCHECKS for a $5 PDF copy of Your Playbook For Tough Times, Vol. 2!
    • Interested in the original, too? Enter discount code BALANCES for the first edition of Your Playbook For Tough Times!

References

  • The Healthcare Blue Book - provides free online tools designed to enable consumers to understand how much they should pay for healthcare services
  • The Fair Health Consumer - this tool estimates your costs for dental and healthcare procedures and services in the ZIP code where you want to receive care.
  • More Helpful Tips Recommendations from Donna:
    • If you’re uninsured: At Healthcare Bluebook, type in what’s needed (foot surgery, biopsy, etc.) plus your zip code and get an idea of what you might pay for that treatment in your area. As the website notes, the cost for the same network procedure can vary by up to 400 percent. Even if you do have insurance, using a tool like this could mean having to fork over less of a copay (e.g., 20 percent of $300 rather than $500). Or use Fair Health Consumer’s cost lookup tool to get an idea of what an average service or treatment should be, then print out something called a “binding cost estimate.” This basically says, “This amount is what we know to be less than a billed charge but more than a typical insurance payout.” Present it to a potential provider, say frankly that cost is a huge issue for your household and you’d like to know if you could get the needed treatment at this price. You can strengthen your negotiation by offering to pay in full at the time of the visit. If you can pay in cash, that might be enough of an incentive to get the provider to agree. Even if you had to use a credit card you’d at least be getting the best possible price for treatment.
    • Keeping prescription costs down: Common meds may be free! Some supermarket pharmacies offer certain antibiotics, generic Lipitor, prenatal and children’s vitamins, the diabetes drug Metformin and other medications without charge. Among the grocery chains providing free medications are Amigos United, Giant Eagle, Meijer, Price Chopper, Publix, Reasor’s, Schnucks, ShopRite and Wegman’s.
  • Contact Info:
  • ICYMI - PB53: Broke Millennial ft. Erin Lowry

Announcements

Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.

Read Marcus’ book on how he buried and dug his way out of over $30,000 in debt by age 30, Debt Free Or Die Trying, on Amazon.

Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!

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We're back with the podcast you need: Part 2 with Damon Young of VSB. If you haven't already, don't forget to listen to Part 1: PB60: “Overnight Success” ft. Damon Young of Very Smart Brothas. This episode is equally colorful but tackles more serious topics like life, health, and personal finance. Our discussions include:

  • What it's like to have new money with old problems like being the first to make it while balancing staying #woke and authentic with #TheStruggle
  • How not having enough money may have caused Damon to ignore a health scare for years that could have cost him his life
  • The 15-year journey to become an "overnight success" and the book deal with Ecco (HarperCollins) that's changed his life forever
  • The impact raising a child has had on Damon's views on finances, his upbringing, money, and what he plans to teach his daughter about money in the future

References

Announcements

Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.

Read Marcus’ book on how he buried and dug his way out of over $30,000 in debt by age 30, Debt Free Or Die Trying, on Amazon.

Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!

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This week we're joined by Damon Young of VSB for the first of a 2-part discussion. Damon is the editor-in-chief and co-founder of the black culture cornerstone, VerySmartBrothas.com. He has had his work featured on places like Slate, The Root, Ebony, Essence, HuffPost and everywhere the cool kids hang out on the e-corner. Last but not least, he's working on a book of essays to be published by Ecco (HarperCollins). He lives in Pittsburgh, really likes pancakes, and Damon is a busy man, so we're happy he took the time out to speak with us and the questions that have plagued the internet for years, like: why do men love Dodge Chargers (and her cousin, The Dodge Challenger)??? On part 1 of our entertaining discussion with Mr. Young we cover:

  • How Damon went from rag to riches covering the journey from bad plagiarist poet to great authentic writer after finding his own voice, "I can swim now, but only because someone pushed me in the pool." - Mr. Young
  • He breaks down one of the hardest lessons he learned in his writing career, how it shaped him then and now, and why "STFU is free."
  • The impact money, or the lack thereof, had on his personal life and professional decisions, "I didn't have enough money to afford free sh*t."
  • Why making good money is nice but having more money than your neighbors is what really drives people.

On Part-2, we'll discuss how money changes your outlook and how people view you, Damon's view on the True Cost of Parenting, and much more. Stay tuned and tune in!

References

Announcements

Check out RockStar Finance’s Directory of Personal Finance Blogs (and Resources) from @BudgetsAreSexy. This is a great resource for all things personal finance. You can show support to us and these other awesome personal finance blogs by clicking here.

We’re on Soundcloud!

Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.

Read Marcus’ book on how he buried and dug his way out of over $30,000 in debt by age 30, Debt Free Or Die Trying, on Amazon.

Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!

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The Money Minute

  • A @PayBalances listener asks, "how would you change your budget if you had children?"
  • We found that as of 2017, it costs up to $233,610 to raise a child from ages 0 to 17!
  • We discuss how we would proactively adjust our personal finances when a little (HYPOTHETICAL!) bundle of joy is on the way:
    • Start the 9-month clock and begin adjusting and testing our new family budget before the arrival of the baby.
    • Review our insurance plans to make sure we have enough to care for everyone, not just ourselves.
    • Why we would immediately start planning and saving for our child's college fund.

This Week In Work

  • How to improve your online job searches and recruiter contacts on LinkedIn using Boolean search strings.
  • Rich provides a step-by-step breakdown of how to use search strings to tailor your job search and improve your online job profile.
  • We discuss how to network and navigate LinkedIn when a recruiter or company of interest visits your personal profile.

References

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A new Money Minute inspired listener question and our drive to get our and your money right so we can stunt -- responsibly and within our budgets, of course -- on the haters! A This Week in Work update finds Rich delving even further into the seedy underworld of the professional dark side, also known as Middle Management.

Money Minute

  • After our How Much You Need to Save Each Month to Retire With $1,000,000 blog equally excites and depresses folks on both the wrong and right side of 30, a listener on Twitter laments: Who at age 23 has $415 of excess money?!? Well, we're glad you asked because we have the answer for how you can make more, save more, or both.
  • How the Average American Spends Their Paycheck and one easy change you can make this week that can save you hundreds as early as next month.
  • Tips for finding your personal financial motivation and defining your why informed our thoughts on the new Census report on US median household net worth: White: $132k Asian: $112k Hispanic: $13k Black: $9k
  • Let's learn to Research Refinancing Your Car 101

This Week In Work

  • If you want to go hungry, just promote to Management???
  • Those unspoken job roles and responsibilities that come with promotions that no one tells you about.
  • Life Hacks and Pro Tips for 'Keeping It Real' at work so you can go viral on Friday without being fired by Monday.

References

Announcements

New blog post: How Much Home, Car, and Debt You Can Afford on a 30, 50, and $100,000 Salary

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This week we tackle another listener question from our ASKPB queue:

Hey guys! The question I have is if I should stay in a job that I don't like until I pay off all my debt. I'm in my late 20's, and I'll make 70k this year and I have 28k in credit card debt. The credit cards have been cut, dipped in lighter fluid, and thrown into a fire pit. I've been using only cash and started budgeting.

The job that I currently work at pays well, but I don't enjoy the work or people. I've been with this company for a couple years, and only stayed with them because I was told there would be future opportunities in my field. As of right now, I don't see that happening in the near future, and feel the longer I stay, the further away I'll get from doing the work I actually want to do. I don't know if I should go ahead and leave or stay until I'm debt free. Another thing is that my job provides housing and transportation, additional cost that I would have if I switch jobs.

Either way I'm going to leave, just don't know if I should leave sooner rather than later.

Any advice would be great. Thanks!

On the second half of the show, we're joined by Matt Schulz from CreditCards.com. CreditCards.com partners with banks and issuers to provide consumers a resource to search and apply for credit card offers displayed side by side so you can easily compare key factors such as interest rates and annual fees. Matt is a financial literacy advocate and credit card subject matter expert with a passion for helping people make smart decisions about their money. He has appeared on the CBS Evening News, the Today Show, CNBC-TV and in articles for the Wall Street Journal, New York Times, and The Washington Post. We discussed how Millennials can research and responsibly use credit cards, the pros and cons of 0% balance transfers for debt management, how to repair or build positive credit history, and much more!

Sponsor

Special thanks to our sponsor, FreshBooks. To get a free 30-day trial of their super-easy-to-use cloud accounting software, visit freshbooks.com/paychecks and enter “paychecks and balances” in the How Did You Hear About Us section.

References

Matt Schulz

Announcements

New blog post: When should I use a 401k loan to pay my bills and debt?

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This week we’re joined by Liz Weston. Liz is a Columnist and Certified Financial Planner (CFP) whose goal is to help us get smarter about money. She's the author of five books including the best-selling "Your Credit Score: How to Improve the 3-Digit Number That Shapes Your Financial Future." Her “Money Talk” column appears throughout the country, including the Los Angeles Times and she has appeared on TV shows, such as CNBC’s Power Lunch, NBC Nightly News, and the Today Show. On this show Liz lends her expertise to help us cover:

  • Why most people don't know they have hundreds of credit scores and that the FICO8 is the most commonly used by lenders
  • The surprising, hidden cost increases your credit score might have on bills ranging from insurance, cell phone, to the down payments on your apartment and cable bill
  • One mistake you can make that can lower your credit score over 100 points in one month
  • Tips for rebuilding and repairing your credit history and credit score
  • What credit utilization percentage and age you should use to determine when a consolidation loan or bankruptcy is the better option

Sponsor

Special thanks to our sponsor, FreshBooks. To get a free 30-day trial of their super-easy-to-use cloud accounting software, visit freshbooks.com/paychecks and enter “paychecks and balances” in the How Did You Hear About Us section.

References

Liz Weston

Other Helpful Tools Info

 

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Have a career advice or debt free question? Click the ASKPB button! This week’s question was so good we couldn't help but dedicate a full show to our response. Apparently, the DMs aren't the only place it goes down. A few snippets:

I always thought they were taboo but people at my current company frequently engage in dalliances and full blown relationships - sometimes resulting in marriage! The fact that so many people seem to be finding long term love at my company while I remain single is making me reconsider my stance. Many of us work long hours so there isn’t sufficient time outside of work to devote to finding love. There is also a sense of security in being already familiar with an officemate, and knowing they passed the same background check as I did. What are your thoughts? When, if ever, is it worth it to pursue a romantic relationship with someone at your workplace?

We also discuss when it's appropriate to consult with your Human Resources and the pros and cons of taking this approach.

Is it ever your responsibility to share knowledge of someone else’s interoffice romance with HR or managers? I never thought about snitching because of the potential negative repercussions for me and I didn’t want them getting in trouble. Outside of me just being a hater, their relationship is an HR issue. They are potentially up for a new position in which their partner would be their supervisor and that goes against policy since they could potentially show favoritism. Based on their current behavior, I see that being a reality. Is it unethical to mind my business and ignore the best interests of the company, or would it be underhanded and unnecessary to spill the beans?

Sponsor

Special thanks to our sponsor, FreshBooks. To get a free 30-day trial of their super-easy-to-use cloud accounting software, visit freshbooks.com/paychecks and enter “paychecks and balances” in the How Did You Hear About Us section.

Announcements

Check out RockStar Finance’s Directory of Personal Finance Blogs (and Resources) from @BudgetsAreSexy. This is a great resource for all things personal finance and, humble brag, we made the exclusive super double probation VIP list this week. You can show support to us and these other awesome personal finance blogs by visiting here.

We’re on Soundcloud!

Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.

Read Marcus’ book on how he buried and dug his way out of over $30,000 in debt, Debt Free Or Die Trying, on Amazon.

Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!

 

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While some folks are of the opinion that Millennial’s affinity for avocados is the only thing keeping us from owning homes, we here at Paychecks & Balances offer opinions you can actually use. Opinions based on math and common sense when common sense is as uncommon as, apparently, Millennials who own a home. Marcus provides an update on the successes and lessons learned two weeks into the 50/30/20 Budget and Rich shares another win in the career column. This week’s PB segments we cover: Money Minute What’s the first step to developing a budget and debt free plan you’ll actually use? Focus on defining your “why.” A quick tip to modernize the “envelope system” with a few simple updates to your online checking account(s). How you can break the cycle of YOLO, FOMO, and debit cards draining your financial tank with debt by a thousand debits. This Week In Work Rich reflects on a recent promotion and the proactive steps he took to make his way towards another step in the American Dream: Middle Management. The pros and cons of the career ladder climb and why you might consider passing on a promotion if you’re a voluntold versus a volunteer. The change in expectations from staff and upper management as you go from the middle cubicle to the corner cubicle (open office concept models for the win?). Sponsor Special thanks to our sponsor, FreshBooks. To get a free 30-day trial of their super-easy-to-use cloud accounting software, visit freshbooks.com/paychecks and enter “paychecks and balances” in the How Did You Hear About Us section. ASKPB Have a career advice or debt free question? ASKPB! This week’s question comes from the social medias: We had a listener who went from having one direct report to more direct reports and they wondered if they should ask for more money as a result? References ICYMI – PB48: Renting vs. Buying with Kirk Chisholm Recommended Reading: ‘Renting vs Buying’ Should you rent or buy a home? What is the true cost of home ownership? What you don’t know about renting vs buying can cost you Announcements Check out RockStar Finance's Directory of Personal Finance Blogs (and Resources) from @BudgetsAreSexy. This is a great resource for all things personal finance and, humble brag, we made the exclusive super double probation VIP list this week. You can show support to us and these other awesome personal finance blogs by visiting here.
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Ready to get your financial life together (#GYFLT)? Erin Lowry, creator of BrokeMillennial.com and author of Broke Millennial: Stop Scraping By and Get Your Financial Life Together is here to help! Broke Millennial, the book, is a step-by-step guide on how to go from flat-broke to financial badass. Unlike most personal finance books, it doesn’t just cover boring stuff like credit card debt, investing, and dealing with the dreaded “B” word (budgeting). Erin goes beyond the basics to tackle tricky money matters and situations we all face #IRL.

Broke Millennial, the author, joins us for a multi-faceted conversation covering everything from career and salary negotiations to the financial experience she gained from infamous "Krispy Kreme Incident" that forever changed young Erin and set in motion a lifetime of personal discipline financial expertise starting at age 7. On this entertaining show we discuss:

  • How to successfully transition from the paycheck-to-paycheck lifestyle to establishing your own personal brand and entrepreneurial business
  • The income, health care considerations and mental prep you should consider that allowed Erin to quit her day job making less than the U.S. average median income while still saving over 12-months of living expenses in one of the most expensive cities in the country
  • The pros and cons of self-publishing versus traditional publishing, as well as a chapter by chapter breakdown of Broke Millennial covering the work, money, and career advice you need to know
  • Steps you can take today to "treat your money with respect," immediately cutting out unnecessary fees and expenses, so you can start controlling your money instead of letting your money control you to live the life you want and deserve

Exclusive to Paychecks Balances listeners, if you purchase Broke Millennial and email Erin proof-of-receipt at info@brokemillennial.com with the subject line "Paychecks Balances", she will send you a free unreleased bonus chapter!

ASK PB:

This week's listener question:

Firstly I'd like to say thank you for this podcast, it's been so informative for me. My question is, how do you resist the impulse to buy?

Have a career or personal finance question you need answered? Just click the ASK PB button!

Sponsor

Special thanks to our sponsor, FreshBooks. To get a free 30-day trial of their super-easy-to-use cloud accounting software, visit freshbooks.com/paychecks and enter “paychecks and balances” in the How Did You Hear About Us section.

References

Announcements

PB Blog: Rich tackles a personal finance topic and listener question. Check them out!

Get your personal finances in order with Marcus’ NerdWallet and Money.com features:

Check out Rich’s roundtable with Stacking Benjamins!

We’re on Soundcloud!

Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.

Read Marcus’ book on how he buried and dug his way out of over $30,000 in debt, Debt Free Or Die Trying, on Amazon.

Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!

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While the Fyre Festival proves you can't buy common sense, but you can put a price on ignorance, Rich and Marcus use this week in viral events to try to figure out how a few Instagram models and an admittedly well-produced marketing video scammed hundreds of people out of thousands of dollars. Further, in an attempt to go platinum with no guest features, we bring back the Money Minute and This Week in Work segments this week. Finally, the hostest with the mostest wrap-up with a listener question on a career problem we wish we faced ourselves, "is it ok to take a break between jobs?"

Money Minute

  • "I ain't too proud to budget"
  • The 50/30/20 budget might be the easiest budgeting tool you didn't know you were missing
  • How you can modify the traditional "envelope system" to help design a budget you'll actually use

This Week In Work

  • Another week, another (old) person makes a sweeping generalization about Millennials
  • Rich and I share our pros, cons, and (un)solicted opinions on John Pollard v. Millennials

Sponsor

Special thanks to our sponsor, FreshBooks. To get a free 30-day trial of their super-easy-to-use cloud accounting software, visit freshbooks.com/paychecks and enter “paychecks and balances” in the How Did You Hear About Us section.

References

Announcements

Get your personal finances in order with Marcus' NerdWallet features:

PB Blog: Rich and Marcus tackle a personal finance topic and listener question. Check them out!

Check out Rich’s roundtable with Stacking Benjamins!

We’re on Soundcloud!

Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.

Read Marcus’ book on how he buried and dug his way out of over $30,000 in debt, Debt Free Or Die Trying, on Amazon.

Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!

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Time to re-up and recycle the flow. What does that even mean? Well, this week we re-visit our fastest downloaded podcast ever, PB47: Barely Making It on $500K! As an added bonus, we feature half-man, half-legend and guest, the Financial Samurai himself! Financial Samurai (Sam Dogen) got his MBA from Cal and spent over 10 years working in the finance industry. After 13 years of working in Corporate America and living the "American Dream," money ceased to be a major driving factor. Instead, Sam wanted to live absolutely financially free. He fantasized about what it would be like to write, spend time with family, and travel, with little financial worries. Three years after starting FinancialSamurai.com in 2009? Mission Accomplished! Sam helped us cover a wide range of topics on this entertaining show, so when you play the new PB all the listeners go crazy! This week's show covers: Sam share the story when he finally realized what's really important in life and why he walked away from the "American Dream" and a six-figure income to pursue his own dreams, and ultimately, find true happiness The thorough planning steps and sacrifices Sam made includring a combination of savings, smart investing, and passive income that allowed him to leave the rat race and begin working for himself full-time "If your saving (plan) isn't painful, you're not saving enough" - Sam Lessons learned and wisdom gained from the $500,000 viral article read around the internet It was all good about a week ago, until we decided to wrap up the show with a discussion on "The New Rule for Engagement Ring Buying" Sponsor Special thanks to our sponsor, FreshBooks. To get a free 30-day trial of their super-easy-to-use cloud accounting software, visit freshbooks.com/paychecks and enter “paychecks and balances” in the How Did You Hear About Us section. References From FinancialSumari.com Scraping By On $500,000 A Year: Why It’s So Hard For High Income Earners To Escape A $500,000 Redo: How One Couple Got Their Mojo Back! The New Rule for Engagement Ring Buying Announcements April is Financial Literacy Month! To celebrate and get your personal finances in order, check out Marcus' interviews with NerdWallet: What You Can Learn About Saving From a Former Spender - "Marcus Garrett is a natural spender. Saving money, on the other hand, was more of an acquired skill..." This articles focuses on tips Marcus uses to force automate his budget and savings plans because, as we all know, budgeting sucks. How One Man Dug Out From $30,000 in Debt - The story covers 5 tips Marcus used to get out of and state out of debt and includes a FREE 50/30/20 budget tool from NerdWallet. New Posts Alert! Rich and Marcus tackled a personal finance topic and listener question this month. Check them out! Personal Finance: I Can’t Get Down With Ditching Digit Ask PB: Should I Save for Retirement or Pay Off My Credit Cards First? Check out Rich's roundtable feature with Stacking Benjamins!
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We're back this week discussing all things paychecks and office with esteemed guest Tiffany Southerland. Tiff is a Career Coach, purveyor of empowerment, speaker, 3-time Degree champion, lawyer and the host of the How Does She Do It podcast. We had a great time discussing the importance of mentors, career development and navigation, why Tiff has like 50-11 degrees, and we even had time for a juicy listener question about office relationships. This week's topics include:

  • The difference between corporate and academic America and how to succeed in both
  • How mentorship helped empower Tiff to be successful in her personal and career growth
  • A listener question on how to best navigate the personal relationships we face inside and outside of work

References:

Announcements:

We’re on Soundcloud!

Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.

Marcus’ book on how he buried and then dug his way out of over $30,000 in debt, Debt Free Or Die Trying, is available on Amazon. Check it out!

Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!

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We get back to basics on this week's Money Minute with simple tips you can use to create a budget you'll actually stick to. Yes, we here at PB already admitted that budgeting sucks, but is it a necessary evil we just have to follow? Some would argue no, "...here's the thing about budgeting: It's not fun. At all. And for that reason, it often ends up just being a waste of time..." - David Bach, self-made millionaire. On our This Week in Work segment Rich covers the Managing for Dummies struggle and how even experienced professionals can fall victim to "the backdoor reference". This week's topics include:

  • Why maintaining a budget may or may not work for you when you're not already a millionaire like Mr. Bach
  • Marcus shares lessons learned from a Christmas story from his teens that continues to shape his perspective on budgeting in his adult life
  • Rich reminds us that today's coworkers can be tomorrow's personal character or professional reference
    • The Backdoor Reference: When someone has a contact in their network that knows the person under consideration and they reach out to them unofficially to get the scoop, the grapevine, The Real, or even just the juice.
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The rent is too damn high! But, what happens when the mortgage is too high, also? Among many other quarter-to-midlife items on the must have crisis checklist, the "you need to buy a home" struggle is real. Whether we like it or not, many of us still see homeownership as the final ornament on top of the Christmas tree of life that officially marks when we've graduated to adulthood and the "American Dream." But, have you ever thought about who sold us this dream? Is homeownership an expense or an investment? What happens when you don't own, you prefer to rent, or you have no interest in ever owning a home? The answers are complicated.

Luckily, we have Kirk Chisholm on this week's show to help us navigate the complex data and analyze the true pros/cons of renting versus owning. Kirk is a Principal and Wealth Manager at Innovative Advisory Group, an independent RIA (Registered Investment Advisor) located in Lexington, MA. He has been providing financial advice to individuals and families since 1999. "If you rent a home, it is an expense. When you buy a home, it is an expense. If you buy a home and rent it out to a third party, it becomes an investment." In addition, this week we discuss:

  • What information you should review before deciding to rent or buy.
  • The true cost of homeownership and why a 20% downpayment on a home will not return the best investment on your funds compared to other investment options.
  • Why what you don't know about renting versus buying can cost you thousands of dollars.
  • A listener voicemail on recommendations for easy-to-use index funds for young and first-time investors.
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Is it possible to live paycheck-to-paycheck on $500,000? This 30-year old couple thinks so. Join us this week as we review the budget read around the world and try to figure out how a couple making $500,000 before taxes can only have $7,300 in annual take-home income each year. Check out Scraping By On $500,000 A Year: Why It’s So Hard For High Income Earners To Escape The Rat Race from FinancialSamurai.com. After reviewing the budget, Rich and Marcus discuss:

  • $185,600 in taxes? Taxes? TAXES???
  • How a Cost of Living Calculator can be used to help you determine how far your money will or won't go before you move around the country
  • How incorrectly managing your discretionary expenses led to this couple spending an estimated $134,000 or 48% of their take-home income due to their own self-imposed choices

Be sure to check out the article and give us your thoughts in the comment section below on this couple's $500,000 "paycheck to paycheck" struggle, where you would cut expenses if you had this amount of income, or if you can relate. You can also always email us with more info or questions.

Announcements:

We’re on Soundcloud!

Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.

Marcus’ book on how he buried and then dug his way out of over $30,000 in debt, Debt Free Or Die Trying, is available on Amazon. Check it out!

Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!

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Back to the finances! Ok, I originally thought this was a clever reference, but I realized while typing it that Back to the Future came out in 1985. While we reflect on our lives as older Millennials, you can enjoy another great guest episode featuring Mandi Woodruff! Mandi is a personal finance expert with a special focus on Millennial spending. She’s also a former Yahoo personal finance reporter who’s appeared as an on-camera expert for CBS and Good Morning America. More recently, she’s become executive editor at MagnifyMoney.com, a money columnist at Teen Vogue and co-host of the Brown Ambition podcast. We had an awesome wide-ranging discussion with Mandi covering:

  • Relationships and money - how many of us have them - and tips for managing "your" money as you transition from I to we
  • How to start the dreaded 'personal finance' discussion with your partner
  • Tips you can follow to manage, or even lower, your student loan and Lies Your Student Loan Company Might Tell You
  • The one type of debt you should NOT pay off and why
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Do you know what today is? It's our anniversary, made for you and me! That's right PB fans, this week we celebrate our first 12-months at Paychecks and Balances. Of course, we have to start by saying THANK YOU to the fans and listeners for the love and support! We wouldn't be here without you. But, like Mr. Diddy, PB can't stop won't stop, so while we reflect on what we've achieved this year, we're already excited for new projects, new content, and even more opportunities. We look forward to helping you be great and reaching more people in 2017 and beyond. This week's show discusses:

  • Ok, we may be a generation raised on credit and buried in debt, but we're ready to prove we're also more than capable of digging ourselves out of this mess
  • Why we're focusing more on our journey instead of comparing our progress to others - there's "levels" to the game of life and we've finally found our lane
  • What has and continues to motivate us about personal finance, debt and career management
  • What's next for Paychecks and Balances
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We go to college to get our “dream jobs,” then we are unable to pursue our dreams because we need the income from the job to pay off the debt incurred from going to college. What a time to be alive! “Simon Sinek (age 43) spoke to The Independent about how parenting, combined with social media, working environments, and our impatience have created a generation plagued by low self-esteem, and what we can do about it.” Say what now? Are Millennials really that entitled and emotionally ill-equipped? On behalf of Millennials everywhere, we debunk these alternative facts. On this week’s show we discuss:

  • Is it ok for companies to expect Millennials to be available to work 24-7, even after normal business hours and on the weekend?
  • How searching for your dream job is like finding your soulmate, your “soul job” is a journey that might take your entire career.
  • Following-up on episode PB40: Think Like a Recruiter, Rich discusses another LinkedIn feature — LinkedIn.com/Alumni — that can help expand your professional network and identify possible referrals based on your school’s alumni.
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"Days go slow. Years go fast." - Marcus realizes in this week's Money Minute and This Week in Work hybrid. Rich and Marcus realize that "life comes at you fast" is more than a catchy insurance commercial quote. On this episode, we discuss practical tips for helping ensure you move forward at the speed of life. Topics include:

  • "The Career Tripod" or three tips you can start using today to meet your career and personal goals at the same [gosh darn] time
  • A LifeHack Marcus is trying for 2017 to make at least one personal or professional improvement every week of the year
  • ProTips for how you can actualize your Main Plan, Back-up Plan, and Back-up Back-up Plan
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This week's guest is Marc Miller. Marc runs the website CareerPivot.com and blog. His career included 22 years at IBM, thriving tech startups, and a stint as a high school math teacher. After thirty years of wandering the proverbial career desert, Marc learned his most crucial lesson: Most people don’t really know what makes them happy at their core, what fulfills them. Marc uses his extensive training experience to help others—especially Baby Boomers—find careers that they could grow into for the decades that lie ahead. We were happy to have him on the show to discuss a wide variety of topics including:

  • How individuals can best navigate multi-generational workplaces by focusing on their likenesses and using our differences as strengths to improve our work interactions
  • Focus on building resumes versus just college degrees
  • The outside forces that shaped each generation's unique perspective on work and life
  • Career advice for your 20s, 30s, and 40s and how CareerPivot strategies can help prepare your for career longevity in or as you near retirement

Resources

Be sure to check out these other great reads by Marc Miller:

Announcements:

We’re excited about “another one!” Be sure to check out our feature on NerdWallet for Black History Month 2017, 8 African American Financial Gurus to Follow. We’re among some great and talented speakers and writers here. Find your expert, niche and get your follow on.

We’re on Soundcloud!

Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.

Debt Free Or Die Trying the book is available on Amazon!

Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!

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In this week's Money Minute, Marcus shares a helpful tool that he has used over the years to research career fields and options from the Bureau of Labor Statistics. Thinking of making a job change? Not sure what other professions are related to your current skillset? In school and want to make sure the job you want will exist in 4 years and allow you to "make it rain" or whatever the cool-kid equivalent of rain making is called in 2021? There's a website for that, the Occupational Outlook Handbook.

Tune into this week's show to learn:

  • Quick facts about your next career, such as Median Pay, Typical Entry-Level Education, Job Outlook, and more.
  • The proactive professional steps Rich is taking now to ensure his dreams for the future don't become the ghost of professional missteps past.
  • The differences between where Rich and Marcus thought they would be in college and how you might use their lessons learned to adjust your professional and collegiate pursuits.
  • Lastly, Rich shares how a combination of personal growth, focus, discipline and the Paychecks and Balances show itself have helped him reach another milestone: paying off all of his personal credit card debt by 2017

Resources:

Announcements:

We're excited about "another one!" Be sure to check out our feature on NerdWallet for Black History Month 2017, 8 African American Financial Gurus to Follow. We're among some great and talented speakers and writers here. Find your expert, niche and get your follow on.

We’re on Soundcloud!

Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.

Debt Free Or Die Trying the book is available on Amazon!

Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!

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Are you on LinkedIn? Are you using it right? Well, this week Rich leads a discussion on pro tips and life hacks to make sure you're maximizing your LinkedIn profile. Our discussion covers the following ways to improve your LinkedIn:

  • How to make your LinkedIn profile stand out to recruiters
  • The hidden LinkedIn feature you can update today to let recruiters know you're actively job searching without alerting your current employer
  • What not to include on your LinkedIn profile that might make recruiters and HR professionals contact you
  • What key terms recruiters look for and the importance of ensuring your LinkedIn profile matches your resume

Announcements:

We're on Soundcloud

Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.

Debt Free Or Die Trying the book is available on Amazon!

Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!

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We thought we'd give you a break from the old country for old men podcast with a guest feature with Donovan Frost, whom we had the pleasure of meeting at FinCon16. Donovan is a 25 year old Millennial and the one-man voice behind TheAdaptableAdult.com. Marcus became interested in Donovan's story and having him on the show after finding out that Donovan had quit his day job to travel the world and discover his purpose. On this episode we discuss: What Donovan learned - pros and cons - about the sacrifice needed to quitting work to travel Why younger Millennials needs to focus on their finances as early as possible and how Donovan goes about sharing his advice with his peers Passive Income goals and how traditional avenues like residential investments might still be viable for Millennials to pursue Why The Adaptable Adult was created and what Donovan hopes to accomplish with his website Announcements: Take the first ever PB Audience Survey today! Check out our new PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially. Debt Free Or Die Trying the book is available on Amazon! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!
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Rich and Marcus return this week with a Money Minute tip and This Week in Work. This is a classic Paychecks and Balances episode. Help us, help you make your money great again! On this show we discuss: Budgeting Sucks: Here's how "just the tip" or 20% can help you make your budget and savings needs worry free Tips for dividing your savings goals into Conservative; Moderate; and Aggressive Why finding a mentor both at work and outside of work can separate you from the crowd and make your professional life easier "Let me connect you to" - the key phrase that separates friends from mentors and coaches Announcements: Take the first ever PB Audience Survey today! Check out our new PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially. Debt Free Or Die Trying the book is available on Amazon! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!
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We welcome in 2017 with the awesome couple behind HisAndHerMoney.com, Tai and Talaat McNeely. His and Her Money is a journey of how two high school sweethearts fell in love, got married, but were total opposites when it came to handling their finances. Between being the proud parents of three children, Tai and Talaat find time to share their personal stories on love, money, and personal finance to help others find the financial freedom they have found. On this week's episode we discuss: Why you need to attach a personal mission statement to your budget goals How following "the norm" can lead you financially astray "You need more discipline, not more dollars." Advancing your financial discussion as your relationship advances, "as your relationship graduates, so should your conversations about finances." Resources: View His and Her Money on YouTube Announcements: Take the first ever PB Audience Survey today! Check out our new PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially. Debt Free Or Die Trying is out now! Cop it in that Amazon! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!
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Tis the season for Paychecks Balances annual wrap-up! This has been an awesome year for us but it's all thanks to you! In 2016, we had our highest downloads, were recognized in the Black Voices in Business category of iTunes, attended FinCon2016 and in completely irrelevant news, Rich and I met in person for the first time! Yes, 2016 was a great year for PB but it's only made us hungrier for more greatness, more dope content, more features, and more fan interaction and content that meets your wants and needs! We're looking forward to an even bigger and better year in 2017. Please join us and continue to support! In this wrap-up episode we discuss: 2016 - The Year in Review Our plans for 2017 world domination "Making it Rain on the Haters" Our upcoming #CreditChat with EXPERIAN ..and much, much more! Announcements: Be sure to join @PayBalances as we co-host #CreditChat put on by Experian. Experian is one of the largest credit bureaus in the United States! We're excited for this opportunity so please show your support on Twitter Wednesday, December 28, 2016 3pm EST as we discuss "Financial Goals 2017." Click here for details and more info. Take the first ever PB Audience Survey today! Check out our new PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially. Debt Free Or Die Trying is out now! Cop it in that Amazon! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!
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"It was all a dream. We used to read Word Up! Magazine..." Technically, none of that applies here since we actually met Wilson at FinCon2016, but it was a dream! After a great master mind conversation with Wilson and other like-minded individuals on the daunting financial future Millennials face and why ownership of our personal finance needs to increase, we knew we had to have him on the show. We weren't disappointed! This episode discusses: "A credit card is a plastic loan" Financial Infidelity and how you and your significant other can avoid it The unique investing "headwinds" Millennials need to consider for our generation Inflation and how it should impact your investment priorities, "Your dollar is less valuable tomorrow than it is today." Resources: Visit paychecksandbalances.com/wilson to get Wilson's free guides to conquering your 401K and giving yourself a 20% raise by maximizing your employee benefits! Announcements: Take the first ever PB Audience Survey today! Check out our new PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially. Debt Free Or Die Trying is out now! Cop it in that Amazon! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!
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This week we're humbled and happy to be joined by J.D. Roth, formerly of Get Rich Slowly, and now the mastermind behind MoneyBoss! JD is a true renaissance man -- a description I didn't quite make up but I feel doesn't get used enough so here we are -- having originally created Get Rich Slowly to share his progress and lessons learned as he dug his way out of over $35,000 in personal debt. JD started from the bottom while Drake was still wheeling around on Degrassi! He describes himself as an "accidental personal finance expert" aka a regular guy who found himself deep in debt. After tremendous growth and success, he was able to sell GRS. Now he has moved on to host MoneyBoss.com, a site that candidly shares advice on personal finance and money management. On our show he shares: How Dave Ramsey's Total Money Makeover helped JD develop his money management goals When used correctly, money can buy happiness The importance of developing a personal mission statement for focusing your core values and purpose Why you need a 'financial blueprint' for prioritizing where your money goes and how you can use it to overcome your natural personality type if you're naturally a 'Spender' or 'Saver' Tips for becoming your own money boss by establishing "You, Inc." The company where you begin viewing your actions and your life as a business rather than a serious of random events and happenstance, "Instead of assuming you’re a victim of circumstance, I assume that you are the master of your own fate." - JD Resources: Book: Your Money: The Missing Manual by J.D. Roth Book Recommendation: Your Money or Your Life Visit JD's MoneyBoss website for a free "how to" guide to create your Personal Mission Statement today! Announcements: Take the first ever PB Audience Survey today! Check out our new PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially. Debt Free Or Die Trying is out now! Cop it in that Amazon! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!
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We're joined by Latisha Styles of LatishaStyles.com and YoungFinances.com. Latisha specializes in helping Millennial entrepreneurs focus their goals so they can maximize their returns. Latisha doesn't just talk-the-talk, she walks the walk by relying on her own personal experience when she escaped the 9 to 5 Matrix and established her own successful business. A self-made entrepreneur, Latisha tells us about: - How the right mentors and coaches can help Millennials get ahead faster - The plan and books she used to pay off over $30,000 in personal debt - The journey she took to start a blog that eventually grew into her new full-time profession - Some tips you can use to take your first (low risk) steps into personal investing Announcements: Check out our new PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially. Debt Free Or Die Trying is out now! Cop it in that Amazon! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!
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On this week’s show, we chat with Dennis Restauro, the man behind GroundedReason.com and the Grounded Reason podcast, about cord-cutting aka cutting cable to save money. We explore cable alternatives along with other internet-related things, including sketchy websites that supposedly offer you “free cable” or access to premium shows. Dennis also drops some internet/cable industry insights and predictions about technological innovations that may change the world. To close out the show, we chat about a guest Dennis had on his podcast that uses data science to make everyday life decisions. It turned into a pretty funny conversation. Hope you enjoy! Announcements: Check out our new PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially. Debt Free Or Die Trying is out now! Cop it in that Amazon! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!
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Donna Freedman's motto: “I save where I can so I can spend where I want.” This week she teaches us how she does it. Donna is the author of Your Playbook For Tough Times: Living Large On Small Change, For The Short Term Or The Long Haul and she has over 20 years of experience writing and helping people with personal finance for media organizations like MSN Money and online publications including Vox Media and Get Rich Slowly. We have another funformative conversation with Donna covering: How to build and stick to your spending plan Aligning your personal budget with your life goals and intentions Accurately managing "Opportunity Cost" so your spending maximizes your happiness Resources: Receive a discounted copy of Donna's book, Your Playbook for Tough Times, by visiting http://paychecksandbalances.com/yp and using discount code: PAYCHECKS (good through November 30, 2016) Check out Donna's post, Write A Blog People Will Read For more information and helpful tips on credit card comparisons, check out Beverly Harzog's website as discussed on the show Announcements: Check out our new PATREON page! Patreon provides a forum for you to help us create more great content, reach more people and receive exclusive content. Debt Free Or Die Trying is out now! Cop it in that Amazon! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!
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We’re trying something new this week folks: Paychecks Body. When you’re caught up in the day-to-day, week-to-week, and year-to-year hustle, it’s real easy to forget about maintaining your mind, body, and spirit. That’s why on this week show, we bring on fitness trainer Kofi Ofori-Ansah to remind us about the importance of a well-rounded wellness program that not only focuses on the gym and working out, but also how aligning your health can make it easier to maintain the energy you need to increase your paychecks and lower your balances. On this show we talk about: Simple life hacks you can start today that don’t involve making major changes to your daily routine How one simple change can lead to significant benefits to your health and wellness Why your wellness routine needs to evolve from your 20s to your 30s and beyond How identifying your purpose can motivate you towards even work-life balance
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We're back at it with a new episode! This week we're joined by Tonya Rapley. Tonya runs My Fab Finance, a website dedicated to helping readers and listeners like you break the cycle of living paycheck to paycheck so that you can live free and do more of what you love! Sounds great, right? We know! That's why we were happy to have Tonya on the show to share her wisdom. On this show you'll learn: Where and why you need to obtain your free Annual Credit Report How to develop your own personal finance plan Why Tonya became interested in teaching the importance of personal finance to others based on experiences frown her own life "Financial Abuse" -- how to spot it; avoid it; and escape the cycle Tonya's system for "never stop learning" and how her website and advice can help you continue your own learning and develop a plan for financial success Listen to this gem-packed show and last but not least check out Tonya's feature for Toyota! Resources: The Only Free Annual Credit Report You Need Website: MyFabFinance.com Twitter: @MyFabFinance Announcements: Check out our new PATREON page at www.patreon.com/paybalances! Patreon provides a forum for you to help us create more great content, reach more people and receive exclusive content. Debt Free Or Die Trying is out now! Cop it in that Amazon! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!
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This week we're joined by Personal Finance Coach and author of Small Business Finance for the Busy Entrepreneur, Sylvia Inks! Sylvia is an experienced business consultant that worked for one of the largest professional services firms in the world before turning into a financial coach for small businesses. On this week's show she shares her experience helping businesses and individuals achieve maximum efficiencies and optimum outcomes. On this week's show you'll learn: How to properly and accurately pay yourself when owning your own business Why you should partner with both a lawyer and a CPA as soon as you have a business idea What interview questions you should ask to find the best CPA for your business Sylvia's 21 proven steps for a successfully launching and maintaining your business Resources: BUY Small Business Finance for the Busy Entrepreneur on Amazon or Visit the Book's Official Website LAUNCH DAY SPECIAL: On Tuesday, November 1st only the book is available for $0.99! Follow Sylvia on Twitter @SMIFinancial Find Sylvia on LinkedIn Website: SMI Financial Consulting Announcements: Check out our new PATREON page (www.patreon.com/paybalances)! Patreon provides a forum for you to help us create more great content, reach more people and receive exclusive content. Debt Free Or Die Trying is out now! Cop it in that Amazon! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!
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This week we have another great guest on the show, Aja McClanahan! Good times and good information ensue as Aja discusses her Post-Traumatic Debt Disorder and how it was a family affair to pay off over $120,000 in debt! Aja shares how Dave Ramsey's Total Money Makeover helped change her views on debt and personal finance, but it wasn't that easy! Her story covers everything from how her "marriage playbook" helped her celebrate 12-years of blissful marriage (and counting); the importance of teaching her children about the importance of budgeting and personal finance; and why the mantra "you gotta spend money to make money" isn't always true, especially when you're drowning in debt. In fact, unlike many who abandon the hood to find their dream homes, Aja found that going back to the hood was the key to prioritizing what was truly important in life. Find your purpose and your path will become clear. Tune in to hear Aja share her non-traditional path to a great success story! Resources: Dave Ramsey: The Total Money Makeover Announcements: Debt Free Or Die Trying is out now! Cop it in that Amazon! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!
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On PB26, we chop it up with Lisa Nicole Bell, host of the Behind the Brilliance podcast and founder of the Inspired Life Media Group. We discuss entrepreneurship (she keeps it candid about being an entrepreneur), values, goals, time management and more. You better press play on this episode and get you a glass of truth juice! We can confidently say this is one of our best episodes ever. Announcements: Debt Free Or Die Trying is out now! Cop it in that Amazon! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!
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We’re joined by Doctor Katisha, an all-around dope Paychecks Balances listener. She emailed us in response to PB18, the Cash Only episode. Turns out she has a pretty robust bank account system that we thought would help our listeners go beyond the 15 minute budget plan. Upon further research, we also found out she is a Woman in Engineering that survived the gauntlet that is a PhD program. Katisha opens with a little background about herself, how she got into engineering, and why she chose to pursue her PhD. Later in the episode, she talks about money, budgeting, and how she uses separate accounts to achieve her budgeting goals. Still not enough? She came bearing gifts! Check out the savings snowball article she introduced us to! But, that’s not all folks. For even more helpful advice columns provided by Doctor Katisha check out these helpful resources and our upcoming NewsLetter: How to Create a Plan to Pay Off Debt; How 14 Accounts Saved Our Budget; and The Best Online Savings Account in 2016. Wow, you still want more? Welp. You should probably have a listen to this week’s funformative show… Announcements: Debt Free Or Die Trying is out now! Cop it in that Amazon! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances and Instagram at the same name!
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PB Nation! We don't think we've said that before, but we'll go with it. On this episode, we're joined by Lindsay Goldwert, host of the Spent podcast. We caught up with her at #FinCon16 and had a great conversation about money and more...despite Rich's voice being in a perpetual state of vocal fry. A valuable lesson learned in conference-going! Check out Lindsay's show at www.spentpodcast.com. You can also follow on twitter at @SpentPodcast. Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances and/or follow us on Twitter and Instagram @PayBalances!
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After the initial excitement of a new job opportunity wears off, a listener begins to wonder if this move was the right move after she is confronted with an unfortunate reality check underneath the surface. It turns out things are a little bit different behind the scenes than what was presented during the interview. She asks, should I stay long term? Her question is below. Have a career or debt management question of your own? Contact Us! I started a new job recently. I was made aware there was a restructuring prior to my hire, however I did not realize how many people it impacted. Now that I've started the job it seems like a bigger deal than I realized. My direct report was one of the people who was laid off with 30 days notice. In those 30 days most (not sure if everyone) who were laid off were given a new job in the restructure. From my understanding the sales team was not rehired, and we now have a very small outside sales team. I realize that I could have potentially probed a bit more during the interview process regarding the restructure. But, I feel blindsided by some of the other things and the current climate in the office. It has made me feel like I potentially made the wrong move of working here. I don't plan on jumping ship, but would this be the type of situation that would warrant leaving after a year? Announcements: Marcus' book, Debt-Free or Die Trying, is out! Get your copy today on Amazon! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances!
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Marcus has an epiphany: "You can spend less money than you make or make more money than you spend." What does that even mean?!!? Well, in the game of Paychecks Balances you can work harder or you can work smarter. In this week's Money Minute we discuss why most people are more interested in how they can make more money versus cut back on where they spend. Why? Because cutting back on the lifestyle we've become accustomed to sucks! We get it! But, keeping it really reals? It might be easier to save money than make more money. On this week's Main Segment, we highlight an article from Quartz about why you shouldn't rush to quit your day job to pursue your dreams, as told by someone who quit their day job to pursue their dreams. So if happiness isn't found at the 9 to 5 and happiness isn't found in pursuing your dreams...where does happiness hide? We're glad you asked. That's why we spend the second half of the show discussing how to locate the sweet spot between your dreams, hobbies, day job while still making a livable income. Announcements: Look for us at #FINCON16! Debt Free or Die Trying is now available in stores and DebtFreeOrDieTrying.com is live. Be sure to check them both out. See what we did there? We’re happy to announce that we’ve been featured on iTunes and have been as high as #19 in the Business category! Be sure to check it out. You can also helps us reach an even larger audience by leaving us a five star review. Thank you all for the continued love and support!! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances!
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It's hard to believe it. Marcus' book -- yes, the one he has been talking about for over 3 years -- is finally available in stores in paperback and as an eBook. Visit paychecksandbalances.com/DebtFree to buy the book and learn more helpful tips for beginning your journey towards debt freedom. On this episode, Marcus talks about the motivation for writing the book (all thanks and shout-outs to the listeners for the support). On a more reflective tone, the Money Minute segment covers the pros and cons of writing a book about being debt free. This debt freedom journey has included many supporters, a fair share of naysayers and who can forget, the haters. Fortunately, the chorus of support has far out-sung the whispers of negativity. The moral of the story? Not everyone is meant to support your journey or hear your voice. Focus your energy on the group that's ready to help, listen, and make you a better person. We've found our motivation through you. Bless up! So what's next for us? Wait...we thought this was the end of the journey. Make a funformative podcast. Release the book. Netflix and chill time, right? WRONG! It's time we embrace the hustle hard system, no Rick Ross, as Paychecks Balances had its best month in August 2016! This has motivated us even more. You deserve the best so we'll continue to get better. We look forward to continuing to bringing you great content that helps raise your paychecks and lower your balances. We'll also remember how we got here -- and maybe even try not to forget where we came from? So, if you're a listener and you have a question or want a topic covered, don't hesitate to contact us. Remember, you ask the questions, we find the answers. Announcements: Look for us at #FINCON16! Debt Free or Die Trying, the book, is in stores and DebtFreeOrDieTrying.com is live. Be sure to check them both out. See what we did there? We’re happy to announce that we’ve been featured on iTunes and have been as high as #19 in the Business category! Be sure to check it out. You can also helps us reach an even larger audience by leaving us a five star review. Thank you all for the continued love and support!! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances!
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Negotiation is one of the most important skills you can learn. On this episode, we talk to Kwame Christian, the Managing Partner of the American Negotiation Institute. We chat with him about his decision to go to law school, how he got into negotiation as a profession, some great tips on negotiating in situations you'll likely encounter, and a few of our previous negotiation blunders. This is a must-listen episode. A significant number of gems are dropped! Be sure to check out Kwame's podcast, Negotiation for Entrepreneurs, where he just finished up a great mini-series on negotiating with a car dealership. You should also add him on LinkedIn. Announcements: We’re happy to announce that we’ve been featured on iTunes and have been as high as #19 in the Business category! Be sure to check it out. You can also helps us reach an even larger audience by leaving us a five star review. Thank you all for the continued love and support!! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances!
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We received two great debt-related questions this week. A listener recommends the "snowball" treatment, and another listener ask please help "fix my debt." We're always happy to answer the questions, you ask and we research! Excuse the link-overload, but it's important we provide you with all the tools you need. Check out this week's show if you have a question about the first steps to managing your debt or email us your specific career and debt management questions if you want us to consider answering on a live show! Listener Recommends: Wassup fellas, long time listener, love the show. You guys always talk about paying off debt and that's motivated me to tackle my credit card debt. I was on my company's benefits site and under financial resources they had a credit card debt payoff calculator. And basically this calculator tells you to put in your credit card balances and the interest rate and also how much extra you want to put towards paying off your debt each month. It then calculates how long it will take you to pay off the debt with the extra money versus if you just pay the minimum payments (which they assume is 3% of the balance). They then create a payment plan using the avalanche method of tackling the highest interest rate cards first and show you how much to pay on each card for how many months (you always pay at least the minimum) and then once you get a card paid off you put that payment to another card. So for example, if you're paying $300 in CC payments each month and you want to pay another $50 they allocate that $350 across the cards until all the debt is paid off. Does this make sense? Listener QA: So I want to get out of credit card debt by my 26th birthday next year in May. I have 11,464.51 at 18% APR and 1,848.43 at 0% till October after that it's 17% APR. After taxes I take home $3200. I'm just not sure where to start. Any suggestions are greatly appreciated. Helpful links and sources for this week's QA responses: We cover how to make a budget in less than 15 minutes on Paychecks and Balances episode, Where'd My Money Go? If you want to automate your budget, Rich and Marcus discuss the apps we use as well as a budget app a listener recommends on QA 8. Need a FREE Debt Payment Calculator? We've recommend three you can choose from: BankRate Credit Only All Debt Management Calculators SimpleDollar NerdWallet Editor's Note: Registration required. Chase Bank Presents: The Big Difference 10 Little Dollars Can Make Announcements: We made a guest appearance on the award-winning Stacking Benjamin podcast. Be sure to give it a listen in iTunes or on their website, From Drowning to Debt Free. We’re happy to announce that we’ve been featured on iTunes and have been as high as #19 in the Business category! Be sure to check it out. You can also helps us reach an even larger audience by leaving us a five star review. Thank you all for the continued love and support!! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances! Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.
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All cost of living aint equal. Don't we know it! This week a listener runs into a familiar problem: It's a great job opportunity, but it's not located in my current city of residence. How do I adjust for the cost of living changes? Well, there isn't an exact science to this question, but we discuss how the use of three reliable cost of living calculators (CNNMoney, Salary.com, BankRate) can help our listener determine the best estimate for their estimated cost of living adjustment. Tune in to hear: is a 30% pay increase ever too much? Have a career or debt management question of your own? Contact Us! I currently live in a part of the country where the cost of living is pretty moderate. I'm talking with an employer in CA about a job out there. I know the hiring manager personally, and he/she is great. The job itself is also a great opportunity. The problem is, considering the 10% pay increase I'll be getting at my current job for 2017 and the increase in housing costs alone i'd see while moving from here to CA, I'd need a 25% increase in comp, just to break even. So I would probably want to ask for a 30% increase , with the intent of accepting at 25% if they push back. I think the reasoning above makes sense, but is it reasonable to request a 30% (or even 25%) increase at the new company? I don't want to start salary negotiations off on the wrong foot by going in there with a number that will turn off the employer. Announcements: We made a guest appearance on the award-winning Stacking Benjamin podcast. Be sure to give it a listen in iTunes or on their website, From Drowning to Debt Free. We’re happy to announce that we’ve been featured on iTunes and have been as high as #19 in the Business category! Be sure to check it out. You can also helps us reach an even larger audience by leaving us a five star review. Thank you all for the continued love and support!! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances! Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.
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THE REVOLUTION WILL NOT BE TELEVISED! WIM was finally released from protective custody this week, and in a double secret probation reveal, he is un-trapped from the closet as he discusses both the title of his new book (now available in eBook for Amazon Kindle) and his government name, and that's just the first five minutes of this week's show! On topics you actually care about, this week's Money Minute covers a few easy changes you can make to save over $4,500 a year. For example, did you know if you pay over $200 for cable, you're paying more than $2,400 a year and you spent over $12,000 in the last five years? Damn Daniel, back at it again with the cable vans? And that's just one bill we discuss. Imagine how much money you could save if you focused on cutting back in the top 3 most expensive bills for the Average American Family? That's why this week's show focuses on where the average person is spending their money and how you can make some simple (and temporary) cutbacks to save thousands over the next 12 months. After all, $287,000 is the new $100,000. It might be time for you to consider some "lifestyle deflation". But, it's not all bad news! Our Main Segment talks about why Millennials do it better (than Baby Boomers, anyway)! Announcements: We’re happy to announce that we’ve been featured on iTunes in the ‘Black Voices in Business’ podcasts. Be sure to check it out. You can also helps us reach an even larger audience by leaving us a five star review. Thank you all for the continued love and support! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances! Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.
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It's the question you hate to ask but may inevitably face: When Should I Leave My Job? This week, a listener wonder just that when a promising opportunity arises even though they weren't even looking to leave their current job. I've currently been with my employer for 2 years, and I'm really content with where I am currently at my employer. Recently I've been contacted by a recruiter. We discussed some information, and I basically told him I'm happy where I am but if the ideal position opened up I'd be willing to take it. Well, he got me 2 interviews this coming week. I'm hesitant at taking them because I'm not really actively looking for a job change. Just wanted to put the feelers out there to see if I gauge any interest. See what's new in the industry and what not. So my question to you is how do you know when it's time to move on from a company? Announcements: We’re happy to announce that we’ve been featured on iTunes in the ‘Black Voices in Business’ podcasts. Be sure to check it out. You can also helps us reach an even larger audience by leaving us a five star review. Thank you all for the continued love and support! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances! Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.
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Optimist, Skeptics, and Cynics: which one are you? Fancy yourself a "Realist"? We discuss the three types and why it's ok to occupy two of these groups, but not the third. This week's motivational quote? “People who say it cannot be done should not interrupt those who are doing it." - George Bernard Shaw. In this week's Main Topic, we discuss five top ways to make yourself indispensable at work using Inc's 12 Simple Steps. Tips include but are not limited to: why your word is your bond; establishing yourself as someone people are comfortable and want to reach out to; staying positive; and how you can learn more later by being more now. Announcements: We’re happy to announce that we’ve been featured on iTunes in the ‘Black Voices in Business’ podcasts. Be sure to check it out. You can also helps us reach an even larger audience by leaving us a five star review. Thank you all for the continued love and support! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances! Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.
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CASH ONLY! Are you living a cash only lifestyle? With help from MoneyQandA.com we discuss the pros and cons of leaving credit behind for the almighty dollar, dollar bill, yall. It's not easy, but it can be done. But, is the cash only life for you? We talk about the benefits of using cash over credit and how "the envelop system" might help you jump start your journey towards debt freedom. Later in this episode, Rich discusses how dividing his money in separate bank accounts for life's many expenses has actually helped him better manage his many money management goals. Announcements: We’re happy to announce that we’ve been featured on iTunes in the ‘Black Voices in Business’ podcasts. Be sure to check it out. You can also helps us reach an even larger audience by leaving us a five star review. Thank you all for the continued love and support! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances! Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.
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On this week's Paychecks And Balances 'Money Minute' we discover some easy ways to find money that's literally laying around your house. The average American has $100 in unused gift cards. Are you one of them? Pretty sure you've spent all your gift cards? Ok. What about unused credit card points? Each year, we lose out on over $150+ million in unused credit card points. Redeem Yourself! Um, yeah, that will make more sense if you listen to the show. In this week's In the Trenches segment, we talk "The Point of Disappointment" and why you should fail hard, fail fast, then move on and learn from your mistakes. Don't let disappointment be your stopping point, it's just another point in the road to success. Learn. Apply. Repeat. Improve. Move on! Your road to success it out there. You just have to find out and we'll show you how. Announcements: We're happy to announce that we're featured on iTunes this week in the 'Black Voices in Business' podcasts. Be sure to check it out. You can also helps us reach an even larger audience by leaving us a five star review. Thank you all for the continued love and support! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances! Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.
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This week a Listener Recommendation for a new budgeting app and a question about retirement investments leads us to a lengthy discussion on budgeting wins and fails. How can you stay faithful in a room full of clothes?! Well, it isn't easy but someone's gotta do it, so it might as well be us (Millennials). Tune in to hear how Rich and WIM avoid buying big rims and 80 gold rings, most weeks. Anyway, I'm behind like one week but a really good app (far better than Mint IMHO) is Level. You link your account (s), tap transactions that are bills and it will automatically track your spending and let you know when you're overspending. It will also let you know how much to save a month, set up personal trackers for specific types of purchases like coffee or vacation and it will automatically track the transactions as you go. It was helpful when I needed to figure out where to cut back in order to pay off a credit card. Really intuitive and simple. One last thing, are you guys ever going to talk about investing as a means to saving/accumulating wealth for retirement or anything really. Announcements: Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances! Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.
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This week we introduce a new segment: "The Money Minute." On our first Money Minute we introduce NerdWallet's 2015 AMERICAN HOUSEHOLD CREDIT CARD DEBT STUDY, which uses survey data to measure the average American's household debt from credit cards to mortgagees and everything in between. What's the average American's debt load for 2016, you wonder? We answer: the average U.S. household was carrying $204,992 in mortgages, credit cards, and student loans on a median household income of $55,192! We implore you to be better than average and on upcoming shows we'll begin covering tips for: 1) how to separate yourself from the average debt holder by first recognizing the problem; 2) designing a budget in less than 15-minutes, and 3) how to develop a debt management strategy you can actually stick to by dividing your good versus your bad debt. As an added bonus, we cover two listener questions for making a mid-career change, including tips for defining your personal values and how you can use those values to personally tailor your job search. Announcements: Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances! Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.
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This week, Rich recounts his experience and lessons from the most recent Podcast Movement 2016 in Chicago. It was a great opportunity for Rich to represent PayChecksAndBalances and connect with some listeners, followers, and talented content creators in the podcasting field. Thanks to everyone who showed support during the visit or connected with us in person! So, what's the next next conference in store for #PayBal -- #FinCon 2016??? TBD!!! Sticking to why we started the podcast -- Career Advice and Debt Management Tips -- Rich shares an app that he has been using for less than two months but that has already helped him save over $500! Want to learn more? Click here: paychecksandbalances.com/digit! To wrap-up the show, we follow-up on our most recent poll results: "Are '5 year plans' still relevant for millennials?" Survey says: NAH! But, lucky for you, we do have some advice on how to turn an un-reasonable 5-year plan into a millennial friendly 90-day plan that has already given us a proven track record for success and results you can actually measure and adjust in real-time. Announcements: Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances! Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.
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This week we're reminded about priorities: life vs. work. Adulting comes at you fast. Are Millennials destined to choose between work and life? Is the "work/life balance" a figment of our generation's imagination? We try to figure it all out on this week's episode. Also, are your friends killing your finances? We cover how to keep your friends from derailing you from the road to debt freedom and beyond. In an even more difficult scenario -- is your significant other killing your finances? We use an AskPolly: My Husband Can't Handle Money article to address how you can successfully discuss money and finances with your significant while minimizing the emotion and focusing on a goals-driven strategy that benefits both of your financial goals. Tune in! Announcements: Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances! Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.
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This week a listener question leads to a thoughtful response from Rich and WIM on career choices and lessons learned. Thinking of a career change? This episode covers the advice we've used or heard that helped us in the past. We see this is an introductory episode to the topic of successfully navigating your current and future career path. Next, we'll follow-up on a related listener question and look to bring in a guest speaker to share their career change experience. But for now, this week's question: Hey guys, Love the show! I'm 26 years old working in the corporate retail world and I am completely miserable at my job. I can recall in one of your podcasts you mentioned looking to your managers to see your future and honestly, my future looks pretty grim haha. Right now I'm looking to have a career change but I'm not quite sure what I want to pursue. Also, I fear that if I do have a career change I may end up feeling the same way about the next job, but making a lot less than I do now. Have any of you been at this point in your careers? How do you find your way? What do you believe are the best methods or resources in finding the right career to pursue? Announcements: Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances! Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.
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We answered two listener questions this week. Have a question you'd like us to answer? Contact us! 1. Hey Rich and WIM! I love the show! It has been a wealth of information as I try to successfully navigate the workplace and get my finances in order. My question is about cover letters. What amount of significance does the cover letter play in the hiring process? I would like to know especially for applicants in technical fields like engineering. I am an engineer who spends a lot of time crafting specific letters for each application, but I wonder if I am wasting my time. Do hiring managers even read them or are they only scanning resumes for key words and specific skills? 2. I applied for a job about a month or so ago. I did some research and emailed the [*removed by editor*]. I told her I was interested in working for the company and that I applied to two different positions there. She emailed me back and said I lacked experience for one and they were close to hiring someone for the other. She told me they liked my resume but just didn't have anything available. She said she'd keep my name on file and that in the future, the team would be expanding so I should keep checking the job board. I'm really interested in the company. Would it be doing too much to try and set up a meeting with the office and get some general interest questions answered? I know that it isn't far fetched at most companies and this place is more of a tech startup. Not sure how to navigate asking for a meeting like this, particularly when the person I spoke to doesn't work in that particular office. Announcements: Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances! Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.
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This week we discuss why it's important (and beneficial) to keep your income profile updated on your credit card(s). In the market for a new credit card? We also discuss the pros/cons and "how to" not only search for a new credit card but also how to pick the credit card that best fits your specific need. Lastly, staying on the subject of debt management this week, we share our 5 favorites from @MyFabFinance of MyFabFinance.com’s 12 Things You Probably Shouldn’t Be Doing If You’re Broke. Announcements: Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances! Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.
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Today's question: You guys give great info and I just enjoy listening to you while at work. Please keep up the great work...young professionals need you. Now on to the question...I'm looking to transition to another division within my company (getting back in the lab space) and a hiring manager for a position I'm interested in agreed to an informal meeting with me to discuss the role. Even through it's informal, are all of the rules still the same for my part? Also, is it okay to bring/ discuss my resume? I don't want it to seem like I'm trying to go around the online application/ hiring system that is in place but since I'll have the hiring manager's ear I want to make it memorable. Got questions you'd like us to answer on the show? Email us at info at paychecksandbalances dot com! Announcements: Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances! Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.
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"The Millennials shall inherit the Earth." – Ancient Internet Proverb In 2015, Millennials passed Baby Boomers as the largest generation. So, what now? Are we too young to start our Millennial-Life Crisis? What does a Millennial’s “pursuit of happiness” and the new “American Dream” look like through the eyes of Millennials? Ranging in age from 18-34, many of us are, or will soon be, confronting these questions for the first time. This week, we discuss three tips to help avoid the Millennial Crisis and instead, turn your questions into answers. Give it a listen and share your thoughts in the comments or email us for a chance to hear our response to your question(s) on an upcoming show. Announcements: Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances! Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.
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This week we follow-up on a success story from a listener's following of our advice form PB8: Credit Roulette. On the career management and job front we discuss the following quote:

What do you think? Is it your job's responsibility to make you happy? Can you really check off the boxes of good money, work life balance, and job satisfaction or do you have to sacrifice one for the other? If yes, how did you succeed at manage to land a rewarding career that aligns with your personal happiness? Lastly, we provide some tips for finding jobs in a new career field when you're not positive about the exact job titles to search.

Announcements:

Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances!

Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.

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PAYMENTS? Credit card, PAYMENTS? WE TALKING CREDIT CARDS PAYMENTS??? That's right friends. We talking credit card payments. This week we also address two listener questions from our Twitter account:

  1.  RT @mmhmmgirl @PayBalances: what's the quickest way to get a lowered interest rate?
  2. RT @itsa_toristory @PayBalances: what should I be looking for when getting my first credit card?

#PayBal Episode 8 covers:

Have more questions about the best debt payment plan? We recommend you use this FREE BankRate calculator to find even more ways to save on your credit cards and identify the best debt repayment strategy for your budget or contact us with your specific career or debt management question for a future PaychecksAndBalances QA.

Announcements:

Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances!

Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.

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On a quick note, Rich discusses the benefits of keeping yourcredit card information up-to-date (income, address, etc.).However, this week's main topics? Career moves you can make in your20s to win in your 30s. Already in your 30s? Ok, still applies! Weshare our own experiences and lessons learned from the5Best Career Moves to Make in Your 30s. Topics cover but are byno means limited to: 1) How to Boost Your Leadership Skills; 2) TheImportance of Networking and Coworker Relationships; 3) WhyYour Relationship with Your Ex-Boss Is Still Important at Your NewJob; 4) Public Image and Personal Branding (Be sure to check outour previousepisode on the importance of branding and mentoring here); and5) How Public Speaking Can Set You Apart from Your Peers. Also,need additional tips to improve your public speaking? We have an episode for that.

Announcements:

Looking for more career development and debt freedom tips? Joinour email list at PaychecksandBalances.com/email for exclusive contentincluding show updates, digital giveaways, and more. We don’t spam.We just keeps it real. Yes, keeps.

LIKE us on Facebook.com/PaychecksandBalances or follow us onTwitter @PayBalances!

Have an anonymous question? Drop a question at ask.fm/PayBalances.Our only request: Please be respectful.

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We got some great feedback and some great questions this week! Check them out below. Have a question of your own? You ask the questions. We find the answers. Email us: info@paychecksandbalances.com

  1. My boss is attempting to engage in a clear case of employment discrimination by hiring an unqualified man over multiple women that are significantly more qualified. A team of us conducted the interviews and everyone, except my boss, ranked the man last.  He has been very vocal about his motive: Our team is overwhelmingly female and he wants to hire a man. I am not OK w/ this. I plan to leave this job soon, but I still don't want to burn any bridges. I have spoken to him about this privately, letting him know that it is both morally/ethically wrong as well as illegal.  But it seems that he is still going to go through with it. What would Rich WIM do? What should I do if I decide that this is something that I cannot sit idly by and let happen?
Announcements:

Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances!

Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.

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A listener comments, "I wish they'd mentioned earning more $$$!" Ask and ye shall receive! We've got good news and bad news. You can definitely make more money, but it'll take a little patience and a lot of sacrifice. For the average person, it'll also take a lot of years but more on that later. If you want to be a millionaire, this is the episode for you. We tell you exactly how much money you need to invest each month at age 20, 25, 30, and 35 to have a million dollars by the time you retire. Aint got time for that? You want the expedited road to riches? Don't worry, we've got you cover, too. On this episode we discuss some ways to make more money right now and we cover some quick and easy ways to lose money (avoid these debt traps). Want to know how close you are to the 1% right now? Use this calculator. Want to know which jobs will help you make over six figures? We've got you covered @PayBalances. So, now that you know how to make a million dollars and which jobs you should focus on to get there, then why is it so hard to make $100,000 in the first place? Here's your answer. Luckily, if you've got youth on your side, there are even a few immediate lifestyle changes you can make in your 20s and 30s to improve your odds of making more income but be careful not to over extend yourself. Last but not least, do you want to know the exact month and year you'll be a millionaire? There's a calculator for that. At PaychecksAndBalances, you ask the questions. We find the answers.

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This week on Paychecks and Balances we discuss interview questions you should always be prepared to answer when you're looking to secure that next paycheck. Topics include:

  • how to prepare for an interview;
  • the importance of researching potential employers before interview day; and
  • five example and situational interview questions you should always keep in mind, like "tell me about a time..." and tips for answering the infamous, "where do you see yourself in five years?" question.

Are there other interview questions you've asked, heard, or struggled with in your work experience? Contact us or share in the comments below. Enjoy!

Announcements:

Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

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Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.

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This week in PaychecksAndBalances QA:

What's up fellas, congrats on the new pod. You guys have helped me make some great moves in advancing my career. So thank you for that. I am currently working in a bank, and through networking got an interview with a top financial advisory firm. Everything seems to be a go, the move would lead to a $28k bump up in base salary. The only issue I may have is the assets under management goals that have to be hit each month after my 7th month on the job. My question is does a move like this make sense even with the targets i am expected to hit. Worst case is I make the base plus whatever commissions and go elsewhere or I actually hit all the targets and stay. What are your thoughts?

Got a question for us? You ask the questions. We find the answers. Contact us!

Announcements:

Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances!

Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.

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Size doesn't matter! Well, when it comes to your personal finances anyway. Do you have at least $2,000 in debt or more? Simply adding $10 extra dollars to your minimum payment can save you over $2,400 in interest payments and help you pay your debt off in 1/3 of the time. Don't have $10? LIAR! But, just in case you are telling the truth, we found 5 easy ways to save you over $3,000 this year with a few temporary cutbacks. Sacrificing for just 90, 180, or 365 days can help you pay off your debt in months instead of years. Want to save even more money? Hop on over to Bankrate to use their free debt payment calculator to see how soon you can pay off your debts. Still don't believe us? Listen to the show and we'll prove it.

Announcements:

Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances!

Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.

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This week, Paychecks Balances is happy to introduce "Ask a Professional." We've realized that we don't know everything, but we do know people who know a lot of answers to those things questions we can't answer. With the help of Desiree Mullins, a licensed real estate agent in New York City, we will navigate some frequent questions for first time home owners and renters re-entering the current real estate and housing market. Inspired by a StreetEasy article estimating some New Yorkers spend upwards of 60% of their income on rent, Desi helps us understand how this came to be; the best time to rent for buyers; why "the rent is too damn high"; and much much more. Sit back, listen, learn and enjoy!

Announcements:

Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

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Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.

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Don't call it a comeback! We're back this week with Part 2 of Office Habits That Hold You Back. Picking up where we left off last week, we talk about how introverts can overcome the "why are you so quiet?" struggle that extroverts seem to love to ask us. We also discuss why an apology is ok, but apologizing too much is not ok. Lastly, remember to promote yourself! Not literally, because that might be frowned upon by HR, but remember to track your progress throughout the year, because that's not your manger's responsibility. Your manager's responsibility to manage you and make sure your "duties as assigned" are completed with "minimal supervision." This is why it's important that you take ownership for your work, track your work, complete your work, then gloat about your work using the template you used to track your work come Performance Evaluation season. We want you to be great by taking control of your career goals and your career progress. This week we tell you how to just that.

Announcements:

Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

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Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.

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Welcome to Paychecks Balances Question and Answer. This week we answer the following:

  1. How do you handle a situation where someone that does not report to you isn't doing their job but it is impacting your ability to do YOUR job? I feel like an a** going to their boss, but is there any other way after you've talked to them several times?
  2. My question is about applying to jobs. Sometimes when looking at openings I come across two or more positions I'm interested and qualified for. Should I apply to all or pick the one I have the best shot at?

Announcements:

Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

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Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.

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On this week's Paycheck Balances we discuss tips for getting ahead at work and how the simple wording of an email might be holding you back. Do you find yourself apologizing too much for missing deadlines? Have you dealt with a coworker that repeatedly promises greatness but barely delivers on mediocrity? This is the episode for you. We provide simple tips for rewording how you communicate with your boss and peers to emphasize solution oriented outcomes versus assigning blame or taking a hit for someone else's mistakes.

Announcements:

Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances!

Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.

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Welcome to Paychecks Balances first Question and Answer session. This week we tackle two listener questions:

  1. In the middle of a job search (looking for more money more responsibility) and just found out that my dad is sick. I’ll probably need to travel often to help with doctor’s visits/treatment. Should I put my search on hold/decline offers or take the job and then slowly reveal my situation?
  2. Hi, I work in insurance. I really like insurance, but I don’t really like the culture of the insurance industry. For this reason, I’m interested in possibly pursuing opportunities at insurance start-ups. There’s one in particular that I’m interested in. My question is: how does startup recruiting work, and how is it different than recruiting at more mature companies. Also, given the info I’ve shared so far, how would you go about starting a conversation with the recruiting function at the startup I’ve described?

Have a question for us? Contact us at info@paychecksandbalances.com or quickly access our ask.fm account at ask.fm/PayBalances.

Announcements:

Looking for more career development and debt freedom tips? Join our email list atPaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances!

Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.

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Welcome to the first episode of Paychecks Balances. We know time is money, so we didn't waste any time tackling our first show topic: "Paycheck Plateaus." What's a Paycheck Plateau? It's when you constantly find yourself with too much month left at the end of your money. At PaychecksAndBalances we've learned the hard way that your money stops growing way before you stop getting older and how a $5,000 mistake in your 20s can cost you over $630,000 by your 60s. That's why we spend this episode breaking down the money and career decisions you need to prioritize at each phase of your career in your 20s, 30s, and 40s.  Tune in so you can know better, then do better.

Announcements:

Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps.

LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances!

Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.

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Welcome to our new podcast! In this quick intro episode, we discuss what'll be covered here so you know what to expect going forward. Think of it as an extended trailer.

Be sure to follow us on twitter at @PayBalances, visit our site at www.paychecksandbalances.com, and join our email list at www.paychecksandbalances.com/email

For questions or topic suggestions, feel free to email us at info@paychecksandbalances.com. We look forward to bringing you a helpful, informative, and humorous look at work and money for the rising professional!

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