Money Mastermind Show: Personal Finance | Investing | Retirement | Entrepreneurship

If you're an entrepreneur, the ultimate goal might be to quit your job and do what you love full time. But when do you know it's time to bail? Steve Chou from My Wife Quit Her Job, Profitable Online Store, and Bumble Bee Linens, has built more than one successful business, and he joins us to talk about how you can figure out when it's time to quit your job and devote more time to your business ventures.  http://moneymastermindshow.com/episode68-entrepreneurs-time-quit-your-job/ Important issues discussed in this episode: How do you know when it’s time to quit your job? Tips for deciding if you really want to leave your job. How can you prepare to quit your job and devote more time to your business ventures? What are some of the downsides to running your own business? Are you really cut out to be an entrepreneur? Panelists In This Episode: Special Guest: Steve Chou |http://mywifequitherjob.com | http://profitableonlinestore.com | http://bumblebeelinens.com Glen Craig | Free From Broke Kyle Prevost | Young

Health care costs have been on the rise for decades. However, in recent years, the rate at which health insurance premiums have been rising is slowing. No matter what happens, though, the for-profit nature of our system means that health care costs are always going to go up. Investors expect to be paid, and that means prices will always be going up. But that doesn't mean you can't make moves to keep your expenses under control. Jennifer Fitzgerald, the CEO of PolicyGenius.com, joins us to talk about the things you can do to reduce your health care costs. https://moneymastermindshow.com/episode67-how-to-reduce-your-health-care-costs/ Important issues discussed in this episode: Why are health care costs on the rise? Is there any way to stop these costs from rising? What are some of the ways that you can limit your own costs for health care? What are the pros and cons of different health insurance plans? Tips for paying for health care costs. What you need to know about the Affordable Care Act (also called Oba

We all wish we made more money. However, you have better chance of making that money if you ask for it. Before you ask for a raise, though, it's important to do your research. Jason Hull from myFinancial Answers joins us to talk about how to negotiate a better salary. If you are trying to decide how much to ask for, and how to approach the situation, this episode is for you. https://moneymastermindshow.com/episode66-how-to-negotiate-a-better-salary/ Important issues discussed in this episode: Is money everything when it comes to salary? Why don’t people do a better job of asking for money? How much are you leaving on the table by not negotiating your salary? Tips for ask for a better salary. How to value your benefits package as part of your better salary package. Panelists In This Episode: Special Guest: Jason Hull | myFinancialAnswers Glen Craig | Free From Broke Kyle Prevost | Young and Thrifty Miranda Marquit | Planting Money Seeds Peter Anderson | Bible Money Matters Tom Drake | MapleMoney

LIVE from the TradeKing Podcast Stage at #FinCon15, we talk to a host of great past and future guests about what makes someone a financial expert. We also talk about how much you can trust financial experts and discuss some really bad financial advice. https://moneymastermindshow.com/episode65-what-gives-someone-credibility-as-an-expert/ Here’s who joined us on our special live episode: Khaleef and Sherrian Crumbley | http://knsfinancial.com | http://fatguyskinnywallet.com Harlan Landes | http://plutusawards.com Alan Steinborn | http://realmoneylife.com Eric NIsall | http://www.dollarversity.com/ Kirk Chisholm | http://www.innovativewealth.com Steve Chou | http://mywifequitherjob.com Joe Saul-Sehy | http://stackingbenjamins.com Scott Maderer | http://christianstewardshipcoaching.com/ Linda P. Jones | http://www.lindapjones.com/ Talaat and Tai | http://www.hisandhermoney.com/ Jessica Garbarino | http://www.everysingledollar.com Panelists In This Episode: Miranda Marquit | Planting Money Seeds Peter Anderson

With the stock market somewhat volatile, many people are looking for ways to make more money outside "traditional" means. Alternative investments like real estate, tax liens, private mortgages and others might be the way to go. You might even be able to enjoy a tax advantage with a self-directed IRA. But are these investments right for you? Kirk Chisholm of Innovative Advisory Group joins us to talk about some of the alternative investments his clients choose, and what you need to know before you risk your hard-earned cash on the next big trend. https://moneymastermindshow.com/episode64-alternative-investments/ Important issues discussed in this episode: What are some alternative investments that are easy to understand? Practical ways to include alternative investments in your portfolio. What is a self-directed IRA, and what can you keep in it? Risks to be aware of before you invest in non-traditional assets. Panelists In This Episode: Special Guest: Kirk Chisholm | Innovative Advisory Group Glen Craig | 

Could you actually see a better quality of life if you choose to move to an area with a lower cost of living?  Aja McClanahan from Principles of Increase joins us to talk about how she enjoys a higher quality of life by living in an area that costs much less than the surrounding area.  Other members of the show also talk about their decisions to make the move to places that cost less in order to see a better quality of life. When you live in an area with low costs, there is a good chance that you will have more in terms of disposable income -- and that can mean a better quality of life. https://moneymastermindshow.com/episode63-better-life-lower-cost-of-living/ Important issues discussed in this episode: How can a lower cost of living lead to a better quality of life? A look at how disposable income is more important than net salary. Tips for reducing your cost of living. How to identify an area that meets your needs and your cost requirements. Panelists In This Episode: Special Guest:Aja McClanahan | Pri

Can the way you live your life affect your finances? Yes it can! Josh Elledge from Savings Angel joins us to talk about how your lifestyle habits and choices can impact your finances. Don't let your lifestyle drain your money resources. https://moneymastermindshow.com/episode62-how-life-habits-affect-finances/ Important issues discussed in this episode: What life habits are most likely to impact your finances? How can you change your mindset to avoid seeing too many negative impacts on your financial situation? Strategies for saving money and living on less. Panelists In This Episode: Special Guest: Josh Elledge | Savings Angel Glen Craig | Free From Broke Kyle Prevost | Young and Thrifty Miranda Marquit | Planting Money Seeds Peter Anderson | Bible Money Matters Tom Drake | MapleMoney

We've seen quite a few moments of volatility in stock market during recent months -- including dramatic drops of more than 200 or 300 points. But do you really need to freak out and sell when the stock market goes down? The reality is that too many people realize losses when they panic and sell while the market is down. Instead of making a terrible decision and locking in your losses, you should step back and examine your options when the stock market goes down.  If you have the right approach, you can ride out a stock market downturn -- or even make some good money if you know how to go bargain hunting. https://moneymastermindshow.com/episode61-stock-market-goes-down/ Important issues discussed in this episode: Is it really the right time to sell when the stock market goes down? How can you protect your long-term portfolio during times of volatility? What are some of the best strategies for sleeping at night as an investor? When is it time to turn off the TV and ignore the noise? Panelists In This Episode

Do you feel down about your money situation? You might surprised to know how effective positive thinking for your finances can be. We chat with the Debt Free Guys about how they turned their financial life around, starting with the stories they told themselves. They also diagnose Miranda’s difficulties with positivity following some major life changes. No, positive thinking alone won’t fix your finances. But it can be a good start. Find out how to combine positive thinking for your finances with action to achieve your money goals. https://moneymastermindshow.com/episode60-positive-thinking-for-your-finances/ Important issues discussed in this episode: Could negativity be holding you back from achieving your money goals? Is positive thinking for your finances really effective? What else do you have to do in order to find success with your financial goals? Are there steps you can take to feel more positive and turn your financial life around? How can you make the most of what you have? Panelists In This Epis

Are you constantly trying to update your outdated technology, clothing, and other items? Do you find it takes a lot of money to keep up with these costs? Michelle Jackson of Shop My Closet joins us to talk about how to save money by giving your old things new shine. Don’t get caught in the trap of discarding old things — and replacing them with new — before all the usefulness is gone. If something looks dull, you can make it shine again with a few simple strategies. We talk about how you to save money when you breathe new life into something older. https://moneymastermindshow.com/episode59-how-to-save-money-by-making-the-old-seem-new/ Important issues discussed in this episode: Do you really have to get rid of something that seems older? Is buying something new really the best solution? Can you learn how to save money by adopting strategies to reuse? What are some of the best ways to make the old seem new? Panelists In This Episode: Special Guest: Michelle Jackson | The Shop My Closet Project Glen Craig |

One of the best ways to save money is to not spend it in the first place. Have you ever thought about minimalism? The idea is to live with fewer things in order to have more money for what really matters. Can minimalism help you save money? Our guest Cait Flanders thinks so. She talks about her year-long shopping ban, frugality, and her own experiments in minimalism. The rest of our panelists don’t think you have to stop buying altogether to save money. Applying minimalist principles can help you save money in various aspects of your life, even if you don’t decide to go full-on. https://moneymastermindshow.com/episode58-minimalism-help-you-save-money/ Important issues discussed in this episode: What is minimalism? How can minimalism help you save money? Do you have to get rid of everything to be a minimalist? What are strategies for adapting minimalism for your lifestyle? Are there additional strategies to help you save money? Panelists In This Episode: Special Guest: Cait Flanders | Blonde on a Budget Gl

Moving is expensive, whether you are going across town or across the country. Here’s what you need to know how to save money on your next move, from getting the right transportation to making sure all of your belongings are properly packed. Our panelists have recent experience in moving, so buckle up for an informative show! https://moneymastermindshow.com/episode57-save-money-next-move/ Important issues discussed in this episode: Why is moving so expensive? Are there strategies you can employ to reduce the cost of moving? What are the different tactics to use when moving across town vs. moving across the country? How can you pack your items so that they don’t broken in transit? What are the latest resources to help you learn how to save money on your next move? Panelists In This Episode: Glen Craig | Free From Broke Kyle Prevost | Young and Thrifty Miranda Marquit | Planting Money Seeds Peter Anderson | Bible Money Matters Tom Drake | MapleMoney

Are you looking for a little comic relief when it comes to money? In this fun episode featuring the always-entertaining Joe Saul-Sehy, we talk about our funny money stories. Some of the highlights include: A couple whose weekly budget included $100 for marijuana The hope of winning $25,000, only to be disappointed A teenager who managed to (accidentally) mount a car on a brick mailbox Two college kids who got stranded in the desert and a $435 tow bill The time a few thousand Canadians drank all the beer in a small North Dakota town These are true funny financial stories from our panelists. If you have your own funny financial stories, we’d love to see them in the comments. https://moneymastermindshow.com/episode56-funny-financial-stories/ Panelists In This Episode: Special guest: Joe Saul-Sehy from Stacking Benjamins Glen Craig | Free From Broke Kyle Prevost | Young and Thrifty Miranda Marquit | Planting Money Seeds Peter Anderson | Bible Money Matters Tom Drake | MapleMoney

According to TheKnot.com, the average wedding costs more than $30,000. Even more conservative estimates put the average cost of a wedding at more than $20,000. But do you really have to spend that much? Sandy Smith from Yes, I Am Cheap spent less than $5,000 on her wedding in New York City. She, and the members of our panel, have tips on how to save money on your wedding. You don’t need to go into debt to have a great wedding. https://moneymastermindshow.com/episode55-how-to-save-money-on-your-wedding/ Important issues discussed in this episode: Why do people spend so much money on weddings? What are the least expensive times to plan your wedding? How can you make the most of today’s technology to save money on your wedding? What are some of the best strategies to save money on your wedding? Do you really need to spend tens of thousands of a wedding? Panelists In This Episode: Special guest: Sandy Smith from Yes, I Am Cheap Glen Craig | Free From Broke Kyle Prevost | Young and Thrifty Miranda Marquit | Pl

Everywhere you turn, it seems as though someone is trying to separate you from your hard-earned cash. If you want to keep your money safe, you need to avoid financial scams. Mark Tan from Thrivent Financial joins us to talk about common scams and how to spot — and avoid — them. We also talk about identity theft, how to protect your identity and what to do if your identity is compromised. https://moneymastermindshow.com/episode54-how-to-avoid-financial-scams/ Some important issues discussed in this episode: What are the most common financial scams, and how do scammers prey on their victims? What makes us think that scams are legit? Tips to help you avoid financial scams in the future Red flags that indicate you could be looking at a scam or vulnerable to identity theft Panelists In This Episode: Special guest: Mark Tan from Thrivent Financial Glen Craig | Free From Broke Kyle Prevost | Young and Thrifty Miranda Marquit | Planting Money Seeds Peter Anderson | Bible Money Matters Tom Drake | MapleMoney

You're in your 20s and just figuring it out. One of the most important things you can do is get on the right track with your money. Martin Dasko from Studenomics joins us to talk about the best things you can do with your time and effort to start on the right financial foot. We also talk about the importance of making the right money moves without missing a party, and the older panelists look back on what they wish they had done in their 20s. https://moneymastermindshow.com/episode53-money-moves-for-your-20s/ Some important questions discussed in this episode: Can you get a good financial start in your 20s and still enjoy the party life? What are some of the best investments you can make while you are still young? What are some of the mistakes that our older panelist made while in their 20s? Do you really have to live according to a script to be successful? Panelists In This Episode: Special guest: Martin Dasko from Studenomics Glen Craig | Free From Broke Kyle Prevost | Young and Thrifty Miranda Marquit

For most people, a mortgage is something that sticks with you for decades. But there is a way to get beyond it: pay off your mortgage early. Kornel Szrejber from BuildWealthCanada.ca joins us to talk about how he paid off his mortgage in six years. Should you pay off your mortgage early? Or are there other ways to use your money? https://moneymastermindshow.com/episode52-should-you-pay-off-your-mortgage-early/ Some important questions discussed in this episode: Is it really possible to pay off your mortgage early? Even if you can pay off your mortgage early, is it worth it to do so? What are some other ways to use your money? Does it make sense to invest in other assets? How do you decide what is the best use of your money? This episode offers a cross-border look at homeownership, mortgages and strategies you can use — whether you live in the United States or Canada — to make the most of your money, wherever you decide to stick it. Panelists In This Episode: Special guest: Kornel Szrejber from BuildWealth

What if you could create an executive summary of your financial plan and put it where it could remind you of your values every single day? That’s what Carl Richard’s, the best-selling author of The Behavior Gap and The One Page Financial Plan, talks about in this week’s episode. If you’re ready to base your money decisions on your values, and simplify the financial planning process, this episode is for you. We share practical, actionable tips for drilling down to the essentials and building your financial plan around what matters most to you. https://moneymastermindshow.com/episode51-simplifying-your-financial-plan/ Some important questions discussed in this episode: Do your values inform your money decisions? How can you figure out what money means to you? What steps can you take to improve your financial situation? Is it really possible to get your financial plan on one page? Panelists In This Episode: Special guest: Carl Richards from Behavior Gap Glen Craig | Free From Broke Kyle Prevost | Young and T

Our experiences shape our relationships with money. When you add another person to the mix, things can become stressful. There are times that, even when you feel you are with your perfect match, that you might not be on the same financial page with your partner. Managing money as a couple requires openness and communication. Elle Martinez from CoupleMoney.com joins us to talk about how to start financial discussions, as well as how to compromise when you and your partner think about money differently. Learn how to understand yourself and your partner better so that your money talks can be more productive, and so that you can reach your financial goals together. https://moneymastermindshow.com/episode50-how-to-manage-money-when-youre-in-a-relationship/ Some important questions discussed in this episode: How should you handle the situation when you and your partner have different money situations? What are some approaches you can take when talking about money? When should you talk about money with your partne

We’re told that there are certain financial milestones we’re supposed to reach in order to be successful. Some of the main financial milestones considered “normal” include college, marriage, buying a home, having children and retirement. Do you have to reach all of those milestones, though? How do you decide which milestones should be part of your own life? In this episode, recorded on our one-year anniversary, a crew of past guests join us to talk about milestones, money and how to plan for the life you want to live. https://moneymastermindshow.com/episode49-how-to-prepare-for-financial-milestones/ Some important questions discussed in this episode: Do you really need to hit all the traditional financial milestones you’re expected to reach? How do you decide which milestones really matter? Why are you working toward certain financial milestones anyway? What are the strategies you can use to reach the milestones that are important to you? Panelists In This Episode: Steve Stewart from Money Plan SOS Todd T