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

by ListenMoneyMatters.com | Andrew Fiebert and Matt Giovanisci

46m

average length

565

episodes

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

Best Listen Money Matters - Free your inner financial badass. All the stuff you should know about personal finance. episodes upvoted by the community

Last updated on May 30, 2020, 12:00 pm

#1

Getting Fit at The Financial Gym

November 28, 2016 • 52m

Today on the show the guys talk with Shannon McLay, a financial planner, author, blogger, and podcaster.She left her traditional financial services job to start her own company, The Financial Gym in NYC – a fun, judgment-free space where you can talk freely about your finances, get the help you need and have a glass of wine while doing it. Shannon left her corporate job because she felt that the financial firms only provided the tools and resources to help those who had high net worth. She started doing a lot of pro bono work on the side for people who were earning a lower salary and soon realized that helping those people was much more fulfilling. That’s when she decided to start her own business doing just that. She understands that the road to financial fitness is different for everyone, so she offers multiple solutions to help people get and stay financially fit. Shannon is committed to making financial fitness fun, easy and accessible for others. She’s like the Jillian Michaels of personal finance. If you want to hear more from Shannon, check out her podcast, Martinis and Your Money, where she share’s a martini with friends and experts while discussing money and career topics. She has interviewed many influential people in the personal finance space. She also has a monthly group Happy Hour Ladies, where they chat about the financial challenges and some other fun topics.Learn more about your ad choices. Visit megaphone.fm/adchoices

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#2

Should You Start a Side Business?

February 11, 2015 • 45m

We talk a lot about side hustles on the show. Today we’ll discuss if you should start your own side business.A side business can be lucrative and the creative outlet that your 9-5 job isn’t. But it can be a lot of work and time. We’ll break it down so you can decide if it’s the right decision for you.Both Andrew and Thomas have had various side hustles. In fact, Thomas’s site College Info Geek, which is now his full time job, started as a side hustle. That won’t be the case for all of us, but you can still make some extra cash doing your own thing. Client work side hustles can be lucrative but frustrating. You have to create someone else’s vision no matter how crappy or ridiculous you think it might be. Sensitive artist types might want to stay away from client based hustles. A side business shouldn’t be solely about the money. It should enable you to do something you love doing. Making money on that is a bonus. It takes about a year and a half to start making money on a side business. Do you love doing whatever it is enough to do it for free for that long? How much time do you have? If you’re watching TV for a few hours a night, you could use that time to start building something. If you work, are in school, and have a family, your side business may have to wait. We want to know what kind of side business you have in mind and what you want to know about starting one. Leave questions in the comments or send an email to listenmoneymatters@gmail.com. Show Notes Hitachino Nest Beer: A white ale. Backpocket Brewing Penny Whistle: A Bavarian ale. College Info Geek: Thomas’s info on starting a website. Earnest: Refinance your student loans and save some money.Learn more about your ad choices. Visit megaphone.fm/adchoices

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#3

Are You Timing the Market?

August 19, 2014 • 42m

When should you put your money into the market? When should you pull it out? Is there a best and worst time? Are you timing the market? If you are timing the market according to headlines, you’re doing it wrong. We’ll show you the correct way to time the market. Put simply, timing the market is trying to figure out the best times to put your money into and pull it out of the stock market.  We’ve all heard, “buy low, sell high,” but when do you know the optimal time to do that?  You don’t, and neither do the talking heads trying to convince you that they do. Being conservative doesn’t sell newspapers or television advertising.  Jim Kramer ranting like a lunatic sells those things.  But screaming lunatics are seldom right.  Do you take advice from the “dirty ass unemployed gentleman” (call back!) screaming about end times outside the subway station?  Well, if he had a TV show, he could be Jim Kramer. The stock market offers a wonderful gift of an average of 7% returns.  There will be highs and lows, but in the long term, the market goes up.  It’s the short term that the prognosticators are trying to predict and they are usually wrong. There are just too many variables, and no one can predict the future.  The prognosticators are just loud and get a lot of attention, and they make really bold predictions all the time.  Once in a while they get it right and suddenly they look like Nostradamus. The correct way to time the market is through dollar cost averaging, which we explained it Episode 99.  This just means slow dripping your investing money into the market rather than throwing it in all at once.  This is a good philosophy for new people who are nervous about investing.  But you will make more, over the long term, if you lump sum it. Market corrections happen often.  All kinds of things can effect this, domestic political events, world political events, natural disasters even.  This doesn’t affect us long-term; you shouldn’t be checking your investment accounts daily and freaking out over the fluctuations. A bear market is when all the investors are “hibernating” and not putting money into the market.  This is bad.  But a bear market is always followed by a bull market when investors come “charging” into the market. If the knowledge that these gurus have, which they will generously bestow upon you in their newsletter for the low low price of $19.99 was so great, why aren’t they richer than Warren Buffett?  Something to ponder. The takeaway is to get your money in the market.  There is no one tip that will make Wall Street hate you.  It’s not sexy, but it will get the job done. Show Notes Blue Coat Gin:  A local Philly gin. The Five Mistakes Every Investor Makes:  If you’re nervous about getting into the market, read this and learn to avoid mistakes. Betterment:  Set it and forget it. LMM Tool Box:  Everything you need to get good with your money in one place.Learn more about your ad choices. Visit megaphone.fm/adchoices

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#4

This Financial Life with Thomas Frank Part 2

February 02, 2015 • 40m

Today is Part 2 of our delve into Thomas’s financial life. There wasn’t much to critique in Part 1. Will Part 2 also make the rest of us feel like losers?At just 23 Thomas is doing better than many of us a decade or more older. Let’s see if he’s make any mistakes Andrew can help correct. (I like Thomas so I’m slightly ashamed of this but I hope he’s made at least one, tiny mistake.)While it’s impressive that Thomas makes about $69,000 a year, he pays more in taxes because he’s self employed than he would if he made the same salary as an employee. If you want some advice on small business taxes, check out our recent episode with Johnny Horta. Thomas still lives in Ames, Iowa where he attended college. He has three roommates and pays $320 a month in rent. He spends a lot on food, both groceries and eating out. Part of that is just wanting to get out of the house since he works from home. Last year Thomas saved $500 a month into Vanguard and $500 a month into Simple IRA. His goal is to “retire” by age 40. He wants to save $900,000 and live off 4% or $36,000 a year. He needs to save $25,000 a year with 5% growth to reach that number by age 40. So double what he did last year. Aha! Investing is where Thomas needs some guidance. Thomas started with the Vanguard Star fund which has returned about 15% over the last five years. If he moved to the Total Stock Market Fund, that number would be closer to 20%. There is the 5% growth he was looking for without doing anything other than switching funds! If Andrew were 23 again, he would put 50% into the Total Stock Market Fund, 10% into REIT’s, 10% into emerging markets, and leave 30% in Betterment with an eye toward using that for “opportunity buys” like when a Tesla caught fire and the stock was cheap. Most of Thomas’s bills are paid automatically. Rent and Simple are the only things that he has to remember to pay and Simple could be automated once he figures out how to allocate it. Thomas is going really well, especially for one so young. But he’s proof that we all can use a little help in various areas of our life. That’s what LMM is here for! Show Notes Mint: The easy way to track your spending. Betterment: The smart way to invest.Learn more about your ad choices. Visit megaphone.fm/adchoices

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#5

The History of Labor Day

September 01, 2014 • 33m

It’s Labor Day and most of us are not working.  We’ll tell you the reason you have the day off and the story of those who sacrificed so you could sleep in. Labor Day celebrates the American Labor movement.  It became an official holiday in 1887.  If you think you’re job is oppressive now, imagine what it was like before the concept of organized labor.  At least we get paid in money.  At some points, workers were paid with “company chit” that could only be spent at places that were conveniently owned by their employer. Once upon a time, workers labored as apprentices under master workers.  You then became a journeyman and eventually, a master yourself.  By 1815, journeymen began to outnumber masters due to migration patterns.  As a result, investors began building labor intensive businesses on a big scale. When the workers began to collude to raise wages, the practice was made illegal by the government.  Commonwealth vs Hunt made collusion to raise wages a legal activity.  That was the beginning of the modern labor movement. The 20th Century is when labor really gained ground as far as wages and hours were concerned.  Between 1890-1914, unionized manufacturing wages rose from $17.63 a week to $21.37 and hours fell from 54.4 a week to 48.8. In 1933 as a response to the Great Depression, FDR instituted the National Recovery Act to protect collective bargaining rights. It created the minimum wage and regulated working hours. Unions are increasingly under fire today.  Which company is notorious for it’s poor treatment of employees?  If your answer was Walmart, good answer.  Walmart employees are not unionized, in fact, it is actively discouraged and people have been fired for scurrilous reasons that were really to do with trying to organize fellow workers.  Would a union fix everything?  No, but it would go a long way to improving worker conditions in that shit hole.  Does your job offer a pension?  Probably not.  If you were a union member, you would have one.  You would probably have health insurance superior to what you have now as well. Fourth of July is honored as the holiday that exemplifies American sacrifice but as a Detroit girl, I think those who fought and died for the forty hour work week and a living wage are just as deserving of celebration, respect and gratitude. Remember  that when you toast at your back yard barbecue. Show Notes Imperial Pumpkin Ale:  It’s September and that means pumpkin beer! Facebook Beer Season: That magical time when the fall beers are in season.Learn more about your ad choices. Visit megaphone.fm/adchoices

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#6

How to Calculate Opportunity Cost With Every Choice You Make

November 05, 2014 • 53m

Opportunity cost sounds ominous. Like you are really going to be missing out or possibly making a big mistake if you choose wrong. Without realizing it, we make minor decisions in our lifestyle choices that involve calculating opportunity cost.Opportunity cost is basically considering what you can’t do as the result of each possible decision you make. Don’t worry. We are here to teach you how to calculate opportunity cost and how it works so you always make the best decisions.Our professor on the show today is Dan Egan from Betterment and he’s drinking beer brewed at Betterment! What is Opportunity Cost? Opportunity cost is what you give up when you choose between options. No matter what we choose, there is a next best choice that we give up or an opportunity forgone, that is the opportunity cost. We want to minimize our opportunity cost by choosing the option that benefits the most. Considering that almost every decision you make has a potentially beneficial alternative, you will never be able to eliminate opportunity cost entirely. The important thing is not to brood over “what ifs” and “should haves”. Rather be pragmatic and responsible each time you are decision making. “One of the most important concepts of economics is ‘opportunity cost’ – the idea that once you spend your money on something, you can’t spend it again on something else.” Malcolm Turnbull Decision making typically involves constraints such as time, resources and rules – risk vs reward, cost vs quality, salary vs quality of life. Opportunity cost is considering what you can’t do as the result of each possible decision. Opportunity Cost = Return of Most Lucrative Option – Return of Chosen Option Scarcity We have to weigh opportunity costs because of scarcity. Scarcity means limited resources. All of our resources, time, money, effort, are not infinite and could be used in a variety of ways. You may be able to allocate the time you spend earning a new certification or degree into advancing within your current position, for example. In this situation, you would have to decide what the most valuable allotment of your time is and what would have the greatest potential for the greater return on your chosen investment. So we have to carefully consider our decisions to make sure what we are gaining by making one choice over another is more valuable than what we are foregoing. Simple Examples of Opportunity Cost Even simply deciding where you want to eat comes with unavoidable missed opportunities. You want to go out to dinner. You decide to go to the French place over the Italian place. The enjoyment of an Italian meal is the opportunity cost of that decision. Although you might thoroughly enjoy your meal at the French restaurant, even more so than you would have at the Italian place, you will still have missed out on the good food and enjoyable experience. And the baguettes. Oh, the baguettes! Opportunity cost can apply to your everyday purchases, as well. You want Netflix for the month and a new book. You don’t have money for both. You choose the book. Watching Netflix is the opportunity cost. Investing Examples Of course, there are situations where the opportunity cost of a decision is much higher than eating steak tartar instead of pasta. Choosing an investment vehicle is one area where opportunity costs must be more carefully considered. Any time you invest your money in the stock market, there are certain trade-offs that you must expect.Learn more about your ad choices. Visit megaphone.fm/adchoices

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#7

How to Move to a New City

August 29, 2016 • 45m

Whether you are looking to move to Denver or Denmark, there are a lot of things you need to take into consideration before moving to a new city.When you are moving to a new city, everything is new and exciting, but it can also be a little scary. Preparing will help you get past that insecurity the unfamiliarity of a new city can bring. And overspending is almost always a result of under planning.One of our awesome listeners has been thinking of making a move to a new city and asked us for some tips on how he can prepare. Thomas has been planning a move to Denver and will share some tips and resources he in today’s episode.Financial PrerequisitesBefore you move to a new city, you want to have your finances in order. Get your debt situation under control and work on your credit score. If you are planning on renting, landlords look at that very seriously when considering a tenant.Make sure you have a job when you get there. If you’re moving because of a job, get a relocation bonus. ASK FOR IT! You’d be surprised what you can get if you ask.Creating a moving budget. This will show you how much money you will need to save up for all expenses including broker fees, security deposits, moving companies, possible storage, furniture and at least the first month’s rent.Step 1: Choosing the new locationIf you’re relocating because of a job or school, either for yourself or a spouse, apparently you’re skipping this step. For Thomas, he just wants to leave Iowa so he can have a new place to call home. Start by researching locations you might be interested in. Figure out what you want out of a new location and make a priority list with value scores.Don’t get caught up in what you might do when you get there. Make a list of real priorities and things you truly value. Maybe you don’t have a car, so you want a city to be walkable. You love hiking and the outdoors, so you need to find a place with the nice weather most of the year.Since it is more likely than not that you’ll need a job when you move, some of your top priorities should be:* What’s my industry like in this city?* What’s the probability that I can get a good job?* What’s the cost of living index, and will my likely salary be able to manage it?* Will I have to downgrade my current lifestyle because the new city won’t let my dollars stretch as far?Compare your cost of living now to what it will be on the move along with your new salary. Thomas has been using Numbeo to compare the cost if living between Des Moines to Denver. He figured out he will need $4,837 each month to get the same standard of living I’d get on $4,000 in Des Moines. Also, check out tax rate differences. If you have children or plan to have kids, then you need to consider schools and daycare costs in the area. Once you have all the info you need, start scoring cities you’re interested in based on your priorities.Check out city-data websites, forums, and Reddit to get the low-down from locals. Thomas has found this pretty helpful except for those few people who don’t want any newcomers in town. Once you have your shortlist, visit a city or two if you can. It’s probably not feasible for most people to visit every potential city, but if you can try to Air BnB it up for a few days in your top pick. You can tour some apartments and get a feel for the place. Thomas did this in Denver, and that was fantastic. It solidified the decision for him. Step 2: Start preparing Moving sucks, so make a plan for everything that needs to be done way ahead of time and work on it in little chunks. Pare down your life and get rid of stuff you don’t need or use. You are starting a new life so leave some of the old behinds.Learn more about your ad choices. Visit megaphone.fm/adchoices

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#8

Your Money Modus Operandi

December 10, 2018 • 47m

Maybe you shop too much or are afraid of investing. As it turns out, it’s mostly your personality that guides how you deal with your finances. We call it your Money Personality and we want to break down what the four personality types are and how you can lean into them to improve your finances.Your money beliefs shape your decisions. So by understanding or recognizing your money personality you can find your weak spots and fix them as well as improve on your strengths. Knowing what drives your financial decisions can help you reach your money goals. Full Article HereShow Notes:ScorpionBowlIPA - Stone Brewery. To create a recipe so tropical and fruity without the addition of fruit was no feat our team of brewers would leave up to the gods. They took floral and citrus notes from Mosaic, Loral and Mandarina Bavaria hops to dish up a mouthwatering fruit punch to the palate. Get deserted on your own island or share with others. One thing is for sure: there is no need to light this one. It is already on fire.Shelter- Outer Range Brewing Co. is focused on brewing the great styles of craft beer that inspire us—Belgians and IPAs—and will strive to become a place and source of inspiration for the people that choose to leave the life below. Money Habitudes - Money Habitudes is an engaging, non-threatening way to help people recognize patterns and perspectives on money.Listen to Advanced IRA StrategiesLearn more about your ad choices. Visit megaphone.fm/adchoices

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#9

Getting Fit at The Financial Gym

November 28, 2016 • 52m

Today on the show the guys talk with Shannon McLay, a financial planner, author, blogger, and podcaster.She left her traditional financial services job to start her own company, The Financial Gym in NYC – a fun, judgment-free space where you can talk freely about your finances, get the help you need and have a glass of wine while doing it. Shannon left her corporate job because she felt that the financial firms only provided the tools and resources to help those who had high net worth. She started doing a lot of pro bono work on the side for people who were earning a lower salary and soon realized that helping those people was much more fulfilling. That’s when she decided to start her own business doing just that. She understands that the road to financial fitness is different for everyone, so she offers multiple solutions to help people get and stay financially fit. Shannon is committed to making financial fitness fun, easy and accessible for others. She’s like the Jillian Michaels of personal finance. If you want to hear more from Shannon, check out her podcast, Martinis and Your Money, where she share’s a martini with friends and experts while discussing money and career topics. She has interviewed many influential people in the personal finance space. She also has a monthly group Happy Hour Ladies, where they chat about the financial challenges and some other fun topics.Learn more about your ad choices. Visit megaphone.fm/adchoices

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#10

How to Negotiate Anything with Daniel Green

October 01, 2014 • 61m

Negotiating is a vital skill.  For a job, a raise, to get to watch the game instead of The Real Housewives.  Dan Green will teach us what we need to know. Not many of us are taught how to negotiate.  We might parrot what we hear other people say but how successful were they?  We need to learn from an expert how to really get what we want. The most common reasons people give when asking for a raise are:  I’ve produced X since my last raise.  I’ve been here X number of years.  I have a family, student loans, etc.”  These reasons focus too much on yourself and too much on the past.  Neither of those things are things your boss cares about. What the boss does care about it himself, the company and the future.  Be very direct with your boss about what you want to be making.  Don’t just ask for more money, say how much more.  Then ask what you need to be doing going forward to make that happen.  Dan does not advise giving an ultimatum.  You want to come across as someone who is excited to do more for the company because that kind of person is deserving of more money. Don’t hedge everything on one conversation, the end of the year or the yearly review.  This makes a single conversation too fraught.  A general conversation when hired, when getting a raise, when earnings reports come out, are better times to find out what you have to do to grow.  Because you aren’t asking for anything, only asking what you can be doing in the future.  In fact, during your review is a terrible time to ask for a raise.  You don’t want to find out how you’re doing and then ask for a raise. Have the review, find out how you can improve, make those changes and then ask.  Because now they have no reason not to offer you more money. A good question to ask is, “What would make you happy to pay me $150,000 (or whatever number you’re seeking) a year?”  And remember, whomever puts down the first number, has more control over the final number.  You found out what making $150,000 required when you asked that months ago.  Now you can slap that number down on the table. There is a difference between haggling and negotiating.  Haggling is more contentious and there are more extreme demands.  Like when you’re trying to buy a car.  Negotiating is better.  It builds more trust and both parties come out at the end feeling as though they’ve both made a good deal rather than both feeling like they got screwed. Or just ask.  So many people are afraid to ask for something but it doesn’t hurt.  It’s like talking to the cute boy at the bar.  Sure, you get shot down sometimes but not always.  Be bold, be brave! So try it tomorrow.  You don’t have to go all in and ask your boss for a 20% raise.  But find one thing that you think may be negotiable and ask for a discount.  Report back here with your findings. Show Notes Oerbier:  A strong, dark Belgian ale. The Negotiation Blog:  Dan’s blog to teach you the art of negotiating. Bridge Consulting International:  Dan’s consulting company Betterment:  This is not negotiable.  Start investing today.Learn more about your ad choices. Visit megaphone.fm/adchoices

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#12

Should You Buy or Lease Your Next Car?

June 23, 2014 • 35m

Matt and Andrew bicker like two five-year-olds fighting over a toy about what is the better choice, buying a car or leasing one.  Andrew gets sweary and Matt gets hangry.  Who will prevail? Unlike some of our topics, there is no clear answer to this question.  Should you invest? That one is easy.  Yes you should.  Should you go to college?  That question does not have a black or white answer.  The decision to buy or lease a car is one that will depend on the stability of your current situation and your priorities.  We’ll list some pros and cons of each. Leasing Advantages:  A lower down payment and monthly payment.  Maintenance and repairs will be covered.  You can drive a brand new car every two or three years.  When it comes time for a new car, there is no trade in hassle. Leasing Disadvantages:  You will never own the car.  You have limited mileage, typically 12-15,000 a year.  The contract can be confusing.  If your circumstances change, ie. you get a new job further away or move to a city where having a car is expensive and a hassle, you’re stuck with the lease. Buying Advantages: You can make modifications like a new stereo system.  You can drive as many miles as you like.  Eventually you will have no car payment.  You can sell the car anytime you like. Buying Disadvantages:  Your down payment and monthly payments are higher.  You have to pay for maintenance and repairs outside the life of the warranty.  The trade in process can be a hassle.  A big chunk of your cash is tied up in something that depreciates. These are all things that you will want to consider when deciding to buy or lease.  Or maybe just take Andrew’s advice and buy a bike.  In order to end an argument with no clear answer, I sent Matt and Andrew both to time out.  Andrew had to wash his mouth out with soap and we gave Matt a snack so his hanger would subside. Show Notes Edmunds.com:  A list of pros and cons for buying versus leasing. Allagash Tripel Reserve:  A strong, golden ale. Motherfucking Bike:  You just have to watch.Learn more about your ad choices. Visit megaphone.fm/adchoices

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#13

How to Negotiate Anything with Daniel Green

October 01, 2014 • 61m

Negotiating is a vital skill.  For a job, a raise, to get to watch the game instead of The Real Housewives.  Dan Green will teach us what we need to know. Not many of us are taught how to negotiate.  We might parrot what we hear other people say but how successful were they?  We need to learn from an expert how to really get what we want. The most common reasons people give when asking for a raise are:  I’ve produced X since my last raise.  I’ve been here X number of years.  I have a family, student loans, etc.”  These reasons focus too much on yourself and too much on the past.  Neither of those things are things your boss cares about. What the boss does care about it himself, the company and the future.  Be very direct with your boss about what you want to be making.  Don’t just ask for more money, say how much more.  Then ask what you need to be doing going forward to make that happen.  Dan does not advise giving an ultimatum.  You want to come across as someone who is excited to do more for the company because that kind of person is deserving of more money. Don’t hedge everything on one conversation, the end of the year or the yearly review.  This makes a single conversation too fraught.  A general conversation when hired, when getting a raise, when earnings reports come out, are better times to find out what you have to do to grow.  Because you aren’t asking for anything, only asking what you can be doing in the future.  In fact, during your review is a terrible time to ask for a raise.  You don’t want to find out how you’re doing and then ask for a raise. Have the review, find out how you can improve, make those changes and then ask.  Because now they have no reason not to offer you more money. A good question to ask is, “What would make you happy to pay me $150,000 (or whatever number you’re seeking) a year?”  And remember, whomever puts down the first number, has more control over the final number.  You found out what making $150,000 required when you asked that months ago.  Now you can slap that number down on the table. There is a difference between haggling and negotiating.  Haggling is more contentious and there are more extreme demands.  Like when you’re trying to buy a car.  Negotiating is better.  It builds more trust and both parties come out at the end feeling as though they’ve both made a good deal rather than both feeling like they got screwed. Or just ask.  So many people are afraid to ask for something but it doesn’t hurt.  It’s like talking to the cute boy at the bar.  Sure, you get shot down sometimes but not always.  Be bold, be brave! So try it tomorrow.  You don’t have to go all in and ask your boss for a 20% raise.  But find one thing that you think may be negotiable and ask for a discount.  Report back here with your findings. Show Notes Oerbier:  A strong, dark Belgian ale. The Negotiation Blog:  Dan’s blog to teach you the art of negotiating. Bridge Consulting International:  Dan’s consulting company Betterment:  This is not negotiable.  Start investing today.Learn more about your ad choices. Visit megaphone.fm/adchoices

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#14

Your Money Modus Operandi

December 10, 2018 • 47m

Maybe you shop too much or are afraid of investing. As it turns out, it’s mostly your personality that guides how you deal with your finances. We call it your Money Personality and we want to break down what the four personality types are and how you can lean into them to improve your finances.Your money beliefs shape your decisions. So by understanding or recognizing your money personality you can find your weak spots and fix them as well as improve on your strengths. Knowing what drives your financial decisions can help you reach your money goals. Full Article HereShow Notes:ScorpionBowlIPA - Stone Brewery. To create a recipe so tropical and fruity without the addition of fruit was no feat our team of brewers would leave up to the gods. They took floral and citrus notes from Mosaic, Loral and Mandarina Bavaria hops to dish up a mouthwatering fruit punch to the palate. Get deserted on your own island or share with others. One thing is for sure: there is no need to light this one. It is already on fire.Shelter- Outer Range Brewing Co. is focused on brewing the great styles of craft beer that inspire us—Belgians and IPAs—and will strive to become a place and source of inspiration for the people that choose to leave the life below. Money Habitudes - Money Habitudes is an engaging, non-threatening way to help people recognize patterns and perspectives on money.Listen to Advanced IRA StrategiesLearn more about your ad choices. Visit megaphone.fm/adchoices

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#15

How to Tame Bill Paying

August 14, 2014 • 38m

Are you still getting and paying bills by snail mail?  Grab a whip and a chair and we’ll teach you how to tame them.  Also learn about duck genitals! Do you open your mail box to a flood of bills?  I hate that, not so much because I mind bills but because it’s more paper to keep track of and they cram so much crap in the envelopes. Before I started paying bills on-line I would send all the extra paper they sent me back to them with the check, ha! There is no reason you have to be bothered with all those pieces of paper.  Most bills now allow you to opt out of getting a paper statement and will e-mail you a digital one.  You can pay these on-line.  It’s so much easier to keep track of digital “paper” than actual paper.  You probably don’t even need to make a folder for it, you can just log into your account and look at the back statements if you need to. You can automate some payments too so you don’t have to do anything.  Just set up auto pay and your bank will send the payment.  You sometimes can’t do this with variable bills but for something like rent that doesn’t change often, you can automate it. If you can pay a bill on a credit card, do it.  You will earn whatever reward your card offers, the credit card company will fight on your behalf if you dispute a charge, and it gives you fewer bills to pay.  To make it even easier, call up your credit card companies and ask them all to change your billing date to the same day.  That way when you sit down to pay it, you can do it all at once. At LMM we always advocate simplifying your financial life.  Set up a system to automate your bill paying and spend the time saved doing something more fun than paying bills. Show Notes Stranger Pale Ale Left Hand Brewing:  A pale ale with citrus, hop notes. Betterment:  Start investing today. Mint:  Set up your budget.Learn more about your ad choices. Visit megaphone.fm/adchoices

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#16

Should You Start a Side Business?

February 11, 2015 • 45m

We talk a lot about side hustles on the show. Today we’ll discuss if you should start your own side business.A side business can be lucrative and the creative outlet that your 9-5 job isn’t. But it can be a lot of work and time. We’ll break it down so you can decide if it’s the right decision for you.Both Andrew and Thomas have had various side hustles. In fact, Thomas’s site College Info Geek, which is now his full time job, started as a side hustle. That won’t be the case for all of us, but you can still make some extra cash doing your own thing. Client work side hustles can be lucrative but frustrating. You have to create someone else’s vision no matter how crappy or ridiculous you think it might be. Sensitive artist types might want to stay away from client based hustles. A side business shouldn’t be solely about the money. It should enable you to do something you love doing. Making money on that is a bonus. It takes about a year and a half to start making money on a side business. Do you love doing whatever it is enough to do it for free for that long? How much time do you have? If you’re watching TV for a few hours a night, you could use that time to start building something. If you work, are in school, and have a family, your side business may have to wait. We want to know what kind of side business you have in mind and what you want to know about starting one. Leave questions in the comments or send an email to listenmoneymatters@gmail.com. Show Notes Hitachino Nest Beer: A white ale. Backpocket Brewing Penny Whistle: A Bavarian ale. College Info Geek: Thomas’s info on starting a website. Earnest: Refinance your student loans and save some money.Learn more about your ad choices. Visit megaphone.fm/adchoices

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#17

13 Common Money Mistakes You Can Avoid

May 28, 2014 • 47m

Forbes Magazine published a list of common money mistakes many of us make.   Which ones are you making? 1.  Not having a budget.  Chances are you have more than Matt’s three monthly expenses and unless you’re budgeting, you can’t keep track of them.  No need to be old fashioned and create a spread sheet. There are plenty of online tools available to make this a painless process. 2.  Avoid bank fees.  Bank fees are for suckers.  There are plenty of banks that don’t charge you for the privilege of housing your money while paying you crap interest. 3.  You have no emergency fund.  There are different definitions of what an emergency fund is.  For some it’s $1000 in a checking or savings account.  For others it’s a year’s worth of expenses invested.  For most of us, it’s somewhere in between and having any emergency fund is better than none. 4.  5.  Not taking full advantage of matching 401K funds and not contributing from your first pay check.  What if your employer doesn’t match?  It’s still worthwhile to contribute because it takes money from your check before you can miss it and if you can contribute enough to drop you down a tax bracket. 6.  Not knowing how much you should save for retirement.  If you don’t know this, listen to our episode on the 4% rule. 7. Not choosing the best student loan repayment plan.  There are several options depending on the type of loans you have, your income, and the field and sector you work in. 8. 9. 10.  The next three address estate planning, disability and life insurance.  Perhaps not something a lot of you are thinking about just now, but become more important the older we get and if we start a family. 11.  Using an investment adviser as you financial planner.  LMM is going to make the editorial decision to tell you that you don’t need either of these.  No one will ever care more about your money than you and these guys rarely beat the average.  So save your money, listen to us and learn to do this yourself. 12. Only considering the upside when choosing investments and choosing those investments based on ratings or headlines.  Yes you could absolutely pick a stock, get a lucky hit and retire at 25.  You could also lose your ass.  Do your research, don’t choose based on media hype, that’s what the media does.  Today’s Tesla could be tomorrow’s Edsel. We know our listeners are savvy and getting savvier but take an overview of your situation and see if you are making any of these mistakes. Show Notes Betterment: On-line investment tool. Mint: On-line budgeting tool.Learn more about your ad choices. Visit megaphone.fm/adchoices

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#18

Breaking Bad Habits with James Clear

September 22, 2014 • 65m

Do you have bad habits?  Are they costing you money?  We learn ways of breaking those bad habits and replace them with healthy ones with James Clear. James Clear’s first site, Passive Panda, is dedicated to helping people earn more money through freelancing, employment, and entrepreneurship. He started studying the psychology of why people clicked on certain links, read certain articles and bought certain things. The more he learned, the more interested he became in how habits shape our lives and his new project was born. How Habit Shapes Our Life We repeat about 40% of our behavior almost every day. Think about it. Do you brush your teeth every day, wipe down your countertops, take your vitamins? Yep, those are habits. Over time, certain habits can become part of our identity. I’m a runner and when I broke my foot (not running) several years ago, I had to give it up for weeks. It felt strange like I was not myself anymore. This applies to bad habits too. Do you always drink a soda with your lunch, have a cigarette with your first cup of coffee? You probably don’t even think about these things anymore, they’re just automatic, a habit. Creating A Habit There are three steps to creating a habit:  reminder, routine, and reward. Even bad habits have rewards, that’s why they become habits. James uses the example of your phone ringing. The sound is the reminder, the routine is to answer the sound, and the reward is finding out who is calling. If the reward is a positive one, even if the habit is negative, you will start to repeat the behavior, or routine, each time you receive the reminder. If this happens enough, you’ve developed a habit. Take The Emotion Out Of It Do you wait until you “feel like” doing something to do it? What if you never feel like doing it? Or by the time you feel like doing it, you haven’t left enough time to actually get it done. If you have things that need to get done, set a schedule and do them. Don’t wait until it’s easy to start. James sticks to a specific publishing schedule and that is what has  made the biggest difference to his work. Habit Stacking Habit stacking is a method that can build a new habit into an existing one. Look at something you do regularly, laundry for example. You can stack a new habit into this routine. Every week when you do your laundry, you also set up your budget for the week. Doing the laundry is the reminder, including budgeting with the laundry makes it a routine, and the reward is better managed finances. Now you’ve attached a new habit to an existing one, making it more likely to stick. Tiny Gains James wanted to build a habit of gratitude. He chose a time of day and started thinking of one thing to be grateful for. This on its own, one thing, doesn’t seem like a lot but over a week or a month or a year, that’s a lot of gratitude stacking up. Even if the behavior is small, the gains are cumulative. Breaking Bad Habits How do you break a bad habit? It’s easier to replace a bad habit than to eliminate it. Figure out what reward the bad habit is giving you. Do you eat when you’re bored? Eating alleviates the boredom because it gives you something to do. In order to break this habit, find something healthy to do that isn’t eating. Write an e-mail, call someone, go for a walk, clean one drawer in your dresser. Because habits identify us to some degree, associating a negative identity to the habit you want to break can help. When you think of a smoker, what do you think of? Dirty, smelly, weak, unhealthy? Those are things none of us want to identify as. But if you smoke,Learn more about your ad choices. Visit megaphone.fm/adchoices

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#19

Being Charitable With and Without Spending Money

November 09, 2014 • 40m

Being charitable is important but when you’re minding your money it isn’t as simple as writing a big check.  But you don’t have to give money to contribute. A lot of people start to think about the best way to give around the holidays.  But with so many demands on your money this time of year, how can you best give back to your community and the world around you without going broke? When you’re a kid being charitable is set up for you.  Through the Boy or Girl Scouts, through your school, through your church if your parents dragged you.  And it didn’t cost you anything.  You did good deeds, donated your time, or collected things like clothes or food for others. When you’re an adult, it can fall by the way side.  Demands on your time and money mean that charity takes a back seat.  But there are small ways to help.  A lot of stores will give you the option to add some extra money onto your purchase for charity.  Pet Smart does this and it gets me every time.  Puppies and kitties! A lot of people get involved in a charity because of a tragedy or near tragedy close to them.  Matt filmed a series of videos for Learn 2 Swim on pool safety for children after a child in his family nearly drowned.  It didn’t cost him money.  He donated his time and expertise which can be more valuable than money. Please be selective when choosing a charity to give your time and money to.  Don’t just default to the big name charity.  Do a bit of googling on Susan Komen and you’ll realize they don’t deserve a cent of your money or your time.  Give Well is an excellent resource that vets charities. Sometimes the best reason to give to charity is because you are pissed off. When Tim Tebow’s mother did an anti-choice ad that aired during the Super Bowl, I made a nice, fat donation to Planned Parenthood in her name. Yes, donating time to charity is a great way to score!  Someone who is generous with their time may be generous with their other talents too.  Ulterior motives still help the charity and you get some.  Win win.  And please remember, charities are inundated around the holidays but people need help and money all year round.  We know each of you have unique skills and talents that any charity would be thrilled to take advantage of. Show Notes Betterment:  Invest now so you have more to give. Charity Navigator: Another site to vet charities. Donors Choose:  A charity for school children. Texas 4000:  Help us beat the Stacking Benjamins audience and help a good cause. Ted Talk Michael Norton:  How to buys happiness through charity. Learn more about your ad choices. Visit megaphone.fm/adchoices

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