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Couple Money: Emotions, Numbers, and Unity

FG Ep 23

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Bio: Elle Martinez started Couple Money because she needed it. Her and her husband’s views on debt, savings, and investing were completely different.  Not finding the advice for couples they wanted they opened the conversation about money on their website Couple Money. As they shared their journey to dumping debt, other couples chime in on their wins, struggles, and advice. The mission of Couple Money is to help spouses stop fighting about money and start building a life they love together. Learn more and join them here: https://couplemoney.com/couple-money/

Show Description: Elle Martinez and I discuss how couples can build up a positive paradigm about money through meaningful conversations. We discuss honesty in starting conversations and setting priorities and demonstrating values to proactively create positive relationships.

ShowNotes:

1:00 – Meet Elle From Couple Money
2:30 – Judgment Free Zones
3:30 – Breaching The Money Topic
4:45 – Starting with Plans and Meanings
7:00 – Numbers Are Relative, Avoid Guilt, Teamwork, and Pace
8:48 – “What Do I Do First?”
10:15 – Money Dates?
14:00 – Hard Talks & Setting Norms For Communicating
18:00 – Spending Plan, Action Plan, Adjusting On The Fly
21:15 – $20 Date Challenge!
27:30 –Simplifying Life

Money Maxim

“Simplify Your Life Enough So You Are Happy”

Action Items

Talk with your significant other about your money

Set a regular meeting to go over spending and money goals with an accountability partner (Spouse if you’re married!)

Do a $20 date challenge! Find something fun and creative, see what each one of you can plan. Share a photo using #20Dollars or tag me Thefinancialginger and Elle Martinez of CoupleMoney

Contacts and Links from the Show

Personal Capital

Digit

Tiller (W/Google Docs) (Honestly this one is SUPER cool. and I’ll be tinkering with it myself.)

52 frugal and fun dates https://couplemoney.com/frugal-fun/52-frugal-and-fun-date-ideas/

Velour Concert Hall in Provo https://www.facebook.com/VelourLive

Elle @CoupleMoney Twitter and Facebook. Share on Instagram tag @CoupleMoney #20Dollars

CoupleMoney.com – Book for newly weds Jumpstart Your Marriage And Your Money

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An American Tradition: Family, Freedom, Future.

American Tradition Family Freedom Future

As the 4th of July rolls around and we celebrate America’s 242nd birthday, my mind contemplates my ancestors and the history of this country.

American since 1893

My family came over to the United States in 1880 to avoid being drafted into the army. James Johansen changed his name to James Johnson when he applied for citizenship September 8th, 1893 and received citizenship just 10 days later on September 18th, 1893. Johnsons were officially Americans. He applied because it was the day his son was born. James Roy Johnson. September 8th, 1893 was a pretty great day for the Johnsons. Now there’s over 200 of us, his descendants, living in Idaho, New York, Utah, California, and more.

Why We Do What We Do

Why do we run the round-about wheel of life? We work hard, we play hard, we sleep hard, we plan vacations and trips, and build up businesses, and buy clothes, and cook food, go to rock concerts, plow fields, grill steak, play football, enjoy days swimming in the river, learn to skateboard, visit grand canyons and skyscrapers.

Why? It’s all about family. We love them. Families create a sense of belonging- feeling needed and wanted for who we are without regards to what we do. Family is a source of unconditional love; and though we aren’t perfect, we know we are happiest when we are with our family. My father’s greatest ideal for happiness is grilling outdoors on a warm Sunday afternoon with the whole family and all our cousins around, just talking and laughing.

That’s it. That’s the ‘why’. All of us deep down are looking for our tribe, our calling, our people. A family is an ultimate tribe that lasts forever. That’s where my thoughts turned to the simple and sweet reality of how we spend both money and time.

Early Puritans and Calvinists used all their time and resources to escape England so their families could worship God the way they wanted. They wanted good things in the future for their families.

I mean, think of the early indentured servants that came to the US colonies. They would pay for their passage to the new world with 7 years of their life. If they were in a colony that allowed them to have their own possessions while indentured they would save up to buy their own freedom.

Settlers moved out west for the opportunity for their own land, so they could grow their own food and take care of their family. Their time and money aligned for family.

People start businesses so they can eventually have the flexibility to go to their son’s ball games and piano recitals, and so they can see their daughters perform in the play or play in the jazz band. I’ve seen my dad and mom sacrifice for me to be able to take dance lessons, and spend so much of their time on coaching me through debate teams, and which college I should attend, and what car I should buy. They love me, and I love them.

What’s Your ‘Why’?

You show me what your time and your money are spent on, and I’ll tell you exactly what you love.

Used with permission from Carl Richards, Copyright Behavior Gap© 2013“Knowledge is accumulation, Wisdom is elimination” – Dan Lok

Part of what I do as a financial planner is help people not only identify their ‘why’ but identify what’s next and create a game plan with them to prepare for their next best part. The best part of the process is eliminating the excess. Do you ever feel so cluttered with so many things you can do, so much stuff in life, and so many hows? Along the voyage for my family, it must have been easy to lose track. Why are we going to America and moving out west and planting our own fields and and and and and. The simple line at the top of the Johnson one-page plan was then and still is “Family, Freedom, Future”.

Planning is eliminating the extra and getting to your one-page plan. It becomes easy to identify what’s important and what’s not when the plan is simple.

So here’s a reminder to consider. What’s your ‘why’? Why do you spend your time as you do; why do you spend your money as you do? My family didn’t end up in America by a wish, or a dream, and you’ll only become what you plan. So, what are you becoming?

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EP22: Dating and Money with Scott Trench of Bigger Pockets

Scott Trench Bigger Pockets MM

Episode #22 – Money and Dating with Scott Trench of Bigger Pockets



 

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Scott TrenchBio: Scott Trench is a perpetual student of personal finance, real estate investing, sales, business, and personal management. He is also a real estate investor, an executive at a large online corporation, salesman, real estate broker, and author. Through a solid understanding of money management, calculated risks, and a lot of hard work, he has created financial freedom for himself as well as a successful real estate business in just three years after graduating college. He hopes to now share the knowledge he has acquired so that others will have the tools they need to repeat his results in just 3-5 years, giving them the option to go anywhere they want in the world, work any job, start any business, or finish out the journey to financial independence and retire young.

Show Description: Scott and I talk about important personal decisions to make financially before dating and relationships pop-up. Scott and I also talk about fun date ideas, financial personality bits, and other considerations to make in achieving your own financial goals while enjoying a healthy social life.

ShowNotes:Set_for_Life_Master_low_res_pdf__page_30_of_248_

0:32 – Edit: “Bigger Pockets” Not “Bigger Podcasts”
1:17 – Go USA Eagles Rugby! Rugby Tangent 😛
3:08 – Dating And Spending Habits (Jump To Here To Get To The Good Stuff 😉 )
3:20 – Fitting Dating Into Our Spending.
4:15 – Single Vs Dating Spending
5:10 – Some Nice Unwarranted Dating Advice 😉
6:40 – The Key: Be Reasonable
7:03 – Edit “Be Aware” – Not “Be Intelligent”
9:15 – The Importance Of Setting Aside Money For Dating
10:24 – From Dating To Relationships
10:40 – Financial Compatibility: A Key In Dating
16:00 – Some Awkward Moments: Recognizing Vital Differences
18:00 – Key: Find A Partner With Similar Money Values To You
18:50 – Open Your Bank Account, And I’ll Tell You What’s Important To You (The Extra Quote I mention at 22:05)
19:15 – Money Is Only One Little Part Of A Good Relationship
20:00 – Marriage and Money : A Few Thoughts
22:20 – Money Is Just A Tool
22:55 – A Great Financial Goal Every Recent Graduate Should Consider
23:45 – Changing Disposable Income Over Time
25:00 – Money Maxim, and Scott’s Book

Money Maxim

“Most people do not accumulate significant assets early in life. And if you don’t do it early in life you miss out on huge amounts of opportunities. The stakes are really high right out of college for accumulating lots of wealth and building passive income. If you don’t do it then it gets harder and harder as you age” – Scott Trench

Contacts and Links from the Show

https://www.biggerpockets.com/users/scotttrench
www.BiggerPockets.com/SetForLife

Bad Daddy’s Burger Bar

Governor’s Park Tavern

 

 

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Ep17: Money and Mental Illness – Abigail Perry

Episode #17: Frugality for Depressives – Managing Money When Dealing With Mental Illness – With Abigail Perry



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Abigail Perry HeadShotBio: After a rare neurological disease nearly killed her at 19, Abigail was left with chronic fatigue and depression. She shares her story and encourages others. Abigail believes that “Everyone has limitations, no matter what your health and income levels look like. Most of us have a near-infinite number of things we should do (or want to do), but an all-too-finite amount of time and energy. Every day we make mistakes or take shortcuts due to overcommitment, stress, health issues or simple exhaustion. That’s not a flaw or personal failing. It’s normal. It’s human. The sooner we can accept this, the sooner we can find peace and balance in our lives.”

Show Description: Abigail and I discuss the influence of depression and mental illness on finance, and some practical ways to cope with finances while not giving up completely. We discuss comfort spending, creating inertia, and automation in making finances easier. Many many more powerful skills and ideas are found in her book!

ShowNotes:

  • 0:53 – About Abigail
  • 2:10 – Budgets and Mental Illness
  • 5:15 – Finding What Works For You
  • 6:50 – Online Bloggers: Only Sharing Success. “Everyone has Foibles”
  • 7:40 – The Foibles: Breathing Room, and “The Dad Syndrome”
  • 11:11 – Comfort Spending: Making Room For Hard Moments (and Weeks)
  • 13:40 – Building Enjoyment: Planning and The Power of Anticipation
  • 17:21 – What You REALLY Want – A Reason For Spending Habits
  • 20:40 – A Flurry of Powerful Habits from Abigail for Depression and Finances
  • 23:10 – Abigail’s Money Maxim

Money Maxim

MM36 - Frugality

“Celebrate Every Win, Big or Small, It’s Still Progress” – Abigail Perry

Action Items

Plan fun events 3-4 weeks out. Plan a vacation next fall, or next summer. Having an exciting event to build up to can keep you focused, empowered, and committed to a fun thing you can talk about, invite friends to, and help fight depression with. Plans create excitement, and a goal to work towards.

Realize when you’re expecting too much. And question why. Who told you that that expectation is required? Is it yourself? Or someone else who’s appearing perfect?

Create Buffer room in your Budget! If your spending plan doesn’t have extra money, or “cash nuances” or “fun money” you’re doing it wrong!

Share Your Wins! Share on FinancialGinger or In the Comments Below!

Contacts and Links from the Show

Buy Frugality for Depressives from Abigail Perry on Amazon! or from Barnes & Noble
I Pick Up Pennies, Abigails Blog. Her Facebook Group, Pinterest, and Twitter

Gift card granny is an aggregate site so you can check who has the best discount for the card you want. You can earn Granny Points when buying from certain sites, and you can trade those in for gift cards.

Unfortunately, Gift Card Granny doesn’t show results for CardCash though, which I also highly recommend. Every couple of months it offers an extra 3-5% sitewide. I get 16% off Walgreens or CVS gift cards.

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EP9: A Dollar From Your Pocket – with Paul Vasey of Cash Crunch Games

Episode 9: A Dollar From Your Pocket – with Paul Vasey of Cash Crunch Games




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Bio: Paul Vasey, former teacher of business from the Uk, who is now living in the US working on financial literacy games after noticing that there was such a need for this overlooked and under rated life skill. Money is everywhere, we use it every day and are expected to be experts. If that was the case, there would be very little student debt credit card debt, fore closures and so on.

Currently has 2 games in the market – CashCrunch Junior – a physical board game for 7 to 12 year olds & CashCrunch 101 -an online game for ages 13 and upwards. Both games focus on learning the value of money, saving first, cashflow, budgets and making smarter decisions.

Show Description: Paul Vasey and I discuss Money Habits and some of the basic ideology of building savings and wealth. Simply Save First, Spend Later. We discuss Cash Crunch Games for kids and young adults and even college students and some practical ways to think about and spend in a more cognizant manner.

ShowNotes:

  • 1:03 – What is Cash Crunch Games?
  • 4:00 – Money Habits: Basic Money Skills People Learn
  • 4:30 – Basic Ideology of Passive Income
  • Over 50% of households can’t afford an unexpected bill of $500 of more
  • 40% of Americans spend more than their income each month
  • 5:35 – Join the Club: Save First, Spend Later
  • 6:45 – The Simplicity of Saving: A Dollar in Pocket
  • 8:18 – Anchoring: Mindset in Savings
  • 9:50 – Reasons We Overspend: Money Habits
  • 10:45 – How to Change Over Spending to Healthy Spending
  • 12:20 – Formula to Calculate Your Hourly Wage Quickly
  • 12:45 – The Question: Is It Worth My Time for This, Not Is It Worth This Money
  • 14:23 – Savings Is Investing Your Time In Yourself
  • 14:40 – Attitude “Spending Time” or “Investing Time”
  • 16:05 – Saving Is A Habit And Muscle, Strengthened Like A Gym
  • 17:45 – Start with little things. Empty your pockets!
  • 18:10 – It’s Not About the Number, It’s About the Habit
  • 19:50 – The Power of Habit Explained
  • 21:02-22:11 – An Exercise With Your Money: Try This At Home!
  • 23:00 – Cash Crunch Junior: Applied Learning Tools for Kids
  • 24:30 – Basic Principles Of Finance
  • 27:15 – Teaching Life Skills

Money Maxim

Save First Spend Later

 

“You Can’t Spend The Same Dollar Twice” – Paul Vasey

Action Items

  • Start saving $100 (or your choice, $10, $25, $50, $500) a month more than you currently are. Create a second bank account, or an extra checking account for that money. Make it a challenge with a friend to see who can save the most in a set period of time! (Loser pays for bowling!)
  • Quickly calculate your hourly wage. Take 3 zeros off the end and divide in 2. ($60,000 a year = 60 /2 = $30 an hour roughly).
  • Consider your next few purchases with that wage in mind. Is it worth that much of your time for this object/experience?
  • Consciously think about time you “Spend”, start thinking about how you’re “Investing” that time. Comment what that means to you below!
  • Take Your Monthly Income in Monopoly Money and Show Your Kids Where It Goes. (Physically show them!) It’ll help them learn about money.
  • Try Out Cash Crunch Games Online Version of their game!
Save First, Spend Later – Paul Vasey @CashCrunchGames Click To Tweet

Contacts and Links from the Show

Cash Crunch Games – WebsitePlay The Simple Online Version

CashCrunch Connect:

Rich Dad Poor Dad – Book

7Twelve Portfolio – Craig D Israelson

The No-Cash Allowance – Teaching Your Children How To Manage Money Practically