The Money Fit Show

The Money Fit Show

Season 2: Episode #33

Resilience and Reinvention, Richard Riemann of Imagination Videobooks

Like so many successful people, Richard Riemann went through difficult periods of his career and his finances. He reinvented his career multiple times, achieving success often just to experience a company shutdown, agism, and even the harsh consequences of government deregulation. But each time, he took inventory of his strengths and his motivators to find or create new opportunities for success. Now, after founding a successful nonprofit, he says it’s time to give back and support others on their journeys.

Podcast Outline

From introvert to storyteller
Creating accessible versions of children’s illustrated books, including Winnie the Pooh
Reinventing himself after a long career in radio journalism and being overqualified for available positions
Moving into a successful sales career before the employer went out of business
The problem with spending like you're employed when you are not
Starting over again after a job loss and divorce
Starting over yet again in the closet narrating audiobooks before starting to produce audiobooks
Growing up in a home where the family lived paycheck to paycheck and experienced power getting shut off
The role of resilience and persistence in financial security
Avoiding bankruptcy through debt negotiations but having to pay taxes on debt that was written off
Setting up a repayment plan with the IRS
Helping others reinvent themselves as well, including a friend who became a photographer for rescue dogs
Rediscovering what motivates you and what you love to do and building a business around it
Helping others with joint ventures
Being careful of overspending money on unnecessary programs instead to seek out mentors and coaches

Links referred to in the episode, and how to connect with the guest, Richard Riemann:

Imagination Videobooks Home

Imagination Storybooks on Facebook

Imagination Storybooks on Instagram

Subscribe to the Money Fit Show today wherever you get your podcasts! You can also find us at moneyfit.org/podcast

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The Money Fit Show

Season 2: Episode #32

27 Months to Debt-freedom, Sammie Ellard-King of Up the Gains

Although his experiences with student loans and credit card debt were in the UK, the principles Sammie Ellard-King discusses that helped him get out of debt in 27 months and become a resource for his family, friends, and beyond apply to anyone in debt in any country.

Effects on a child when parents have a bad relationship with money
Moving out on your own when you’re 17
Running a business while in college but spending every penny
How student loan repayment works in the UK
The problems with not seeing your student loan balance regularly
Trouble with credit card debt to fund lifestyle
Keeping consumer debt secret from friends and family
Figuring out how much you need to retire based on your retirement age and life expectancy
Taking a class to learn to get out of debt
Paying off consumer debt in 27 months
Listening to podcasts and reading books on financial freedom for self-education
Sharing financial advice with family
Not letting financial mistakes get you down
The problem with personal finance books and blogs that talk down to you
Pay yourself first (saving and investing) before paying your bills

Links referred to in the episode, and how to connect with the guest, Sammie Ellard-King:

Up the Gains Homepage

Instagram @UpTheGainsMoney

Twitter @UpTheGainsMoney

LinkedIn @Up-the-Gains

Subscribe to the Money Fit Show today wherever you get your podcasts! You can also find us at moneyfit.org/podcast

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Email: Podcast@MoneyFit.org

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The Money Fit Show

Season 2: Episode #031

Finding Experience in Adversity, Nicki Conradt-Eberlin of Unleashed Leadership

Podcast guest, Nicki Conradt-Eberlin, had to become self-sufficient while just 16 and still in high school. Instead of given into a believe that she was fated to fail, she worked through jobs, paid bills usually handled by adults, and even saved up thousands of dollars to purchase her first vehicle. Looking back now, she’s grateful for all her experiences. And she’s used her experience, curiosity for learning, and drive to become a life coach to help others set and realize their own goals.

Becoming self-sufficient in high school because of alcoholism in the family
Working her first job in an in-school credit union branch
Saving up money to purchase her first car at 16 ($3k-$5k) while paying for groceries, insurance, phone, and other bills
Using her passion for horseback riding to stay motivated financially
Moving on to a full-time position with credit union after high school while attending community college before earning two bachelor’s degrees
Using a low-limit credit card during and after college
Challenges after graduation
Analyzing student loan debt after college and how much it starts to add up over time
Learning about financial products online but also learning from mentors and company materials
Realizing that she loved training and onboarding, which led to setting out as a life coach
Letting go of the scarcity mentality to grow her business and embracing the abundance mentality
Identifying different life goals for each client
Being grateful for all experiences of her life
Reframing views of challenges and difficult times
The importance of consistently checking in with your finances (where your money is going and how you are spending it)

Links referred to in the episode, and how to connect with the guest, Nicki Conradt-Eberlin:

Schedule a Time with Nicki

Unleashed Leadership

Facebook @UnleashedLeadership

Instagram @UnleashedLeadership

Subscribe to the Money Fit Show today wherever you get your podcasts! You can also find us at moneyfit.org/podcast

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The Money Fit Show

Season 2: Episode #30

Couples, Money, and Working Together, Dr. Ray and Jean Kadkhodaian of Couples Synergy

Dr. Ray & Jean Kadkhodaian are relationship experts and cofounders of their successful counseling center. After working with thousands of couples, they created a unique approach to coach couples to have amazing relationships, called Couples Synergy. They cohost the podcast, Couples Synergy: Real Couples, Real Stories… Real Relationships. As a married couple, they believe that they cannot teach it unless they live it. They help couples create the relationship of their dreams, with the partner they fell in love with!

Working together in previous jobs and now in counseling settings
What money meant to them when they were young, including power and control
The marshmallow experiment and how trust plays a role in the notion of delayed gratification
Couples fight more about sex and money than any other topic
How they had to create their own approach to money as a couple
Allowing a partner who enjoys spending money to pay for things
Allowing a partner who prefers to manage money to work on the budget
The relationship between responsibility and resentment
The freedom of living only on cash even if forced to do so due to bad or no credit
Settling debts with creditors
Remembering the most important things when finances get stressful
Being a young, single Mom, joining the military, and going to college
How a log in the wilderness can bring greater joy than a scratched dining room table
Disconnecting from your parents’ view of money and trusting in your spouse or partner
Accepting the reality of life rather than pretending money solves our most important challenges
Bouncing checks, paying fees, and stepping away for a trip to Mexico
Learning lessons rather than regrets
Making decisions quickly but changing mind slowly
The power of a faith and belief system
Not making decisions from a place of fear
Money is symbolic, so you need to learn to detach from those meanings
Blending of finances to create an “us” in relationships

Links referred to in the episode, and how to connect with the guests, Dr. Ray and Jean Kadkhodaian:

Couples Synergy Home

Couples Synergy Podcast

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The Money Fit Show

Season 2: Episode #29

Hiding Money from Yourself, Wendy Fedan of Create a Way Design & Publishing

Wendy Fedan is a full-time freelance illustrator with multiple sources of income related to her dreams. She launched her own company in 2021 designed around publishing her and other people’s books called Create-a-Way Design & Publishing. Her family has been debt free for nearly a decade now, and Wendy is a wife and mother of two teenagers, living in Amherst, Ohio.

The perspective on credit card debt as a fact of life when Wendy was a young adult
The importance of delayed gratification
Financing wants with student loans while in college
The journey into debt involved credit cards, student loans, and possibly furniture debt
Don’t go shopping for a home when you’re 7-8 months pregnant
Feeling like student loan debt would never go away, even with monthly payments
Altering their lifestyle to deal with credit card payments
Freedom is the main work associated with paying off debt
Being able to finally save after paying off debt
Having multiple checking and savings accounts helps put savings funds out of sight and out of mind
Changing your mindset and how you think about money to get out and stay out of debt
Believing that money was the root of all evil, and how being afraid of money leads to financial problems
Taking financial classes together as a couple to help get on the same path
The budgeting challenges of irregular income associated with freelancing
The challenge of going from two steady incomes to one
Setting up own publishing company as a self-publishing author and illustrator
Getting out of debt opens up opportunities to pursue more wants and creative paths

Links referred to in the episode, and how to connect with the guest, Wendy Fedan:

Create a Way Publishing.com

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The Money Fit Show

Season 2: Episode #28

From Government Assistance to Millionaire, Tiffany Harris of Kustom Kreationz Wholesale

Tiffany Harris is a mother of three: two girls, one boy, plus one fur baby. She’s a wife and a profound businesswoman. She started Kustom Kreationz Wholesale (KKW) because she was getting married and was having issues with people making the customized items she wanted. So, she decided to learn how to create them herself. Once she figured out how to make those items, Tiffany learned about sublimation and fell in love. She calls herself the Sublimation Diva.

Tiffany grew up in a poor neighborhood in Philadelphia and has overcome extreme odds to become a huge success in her field. She teaches other entrepreneurs how to start their own businesses, how to navigate credit for business, and how to be unstoppable in the pursuit of creating a career.

Sublimation is a printing process to make decorative apparel
Growing up without entrepreneurial role models
Working as a teacher until she had a stroke in the teachers' lounge
Starting work at 14 years of age
Having the confidence to get past any obstacle
Earning five college degrees
Planning to run her own hotel and restaurant
Earning a nursing degree and realizing she didn’t enjoy the profession
Getting an MBA and a Master's in Human Resources before getting a teaching degree
Continuing to work a side business even after the stroke, using just one hand for all her typing
Identifying what she wanted to do and how much it would cost and then figuring out how to earn the money
The difference between her first visit to Disney and her more recent visits
Messing up her credit at age 17 when getting credit cards at college
Learning about credit and credit worthiness
Focusing her debt repayment efforts on the most recent accounts
Needing focus and patience to rebuild credit
Starting her business when she was getting married because she couldn’t find a business that offered what she wanted for the right price
Rather than reinventing the wheel, she learned to fix the shaky wheel
Writing a book so others can understand you can rise above trials and tribulations (depression, suicidal thoughts, poverty, public assistance, violence, etc.)
Building an academy to help business owners build their business credit
“If at first you don’t succeed, let’s just go off and try again”

Links referred to in the episode, and how to connect with the guest, Tiffany Harris:

Kustom Kreationz Wholesale Website

The Makings of Me: My Journey to 7 Figures from My Living Room

Kustom Kreationz on Facebook

Kustom Kreations on Instagram

Kustom Kreations on TikTok

Kustom Kreationz on YouTube

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The Money Fit Show

Season 2: Episode #27

Look Your Money in the Face, Kelsey Knutson

Kelsey Knutson is a small business coach and podcast host based in the Pacific Northwest. She has a bachelor's degree in Entrepreneurship, is debt free, and has learned many money lessons along the way. She believes our relationship with money dictates the financial choices we make in business and life. And she’s on a mission to help people reframe how they think about money and implement sustainable systems to help them achieve financial (and life) goals.

Inheriting different aspects of her relationship with money from her parents
Learning about money through entrepreneurship versus being told about money
Going to college without having conversations about how to pay for it
Having up to four jobs at the same time in college
Exchanging time for money
The embarrassment of overdrafting her bank account
The scarcity mindset
Side hustles in college led to majoring in Entrepreneurship
Dealing with imposter system
Having an aha moment during the third round of job interviews
Getting full-time consulting job through her university
Quitting on a whim to go to beauty school and get into debt for the first time
The difference between classes at University and Trade Schools
Apprenticing under professionals
Saving tips to accelerate debt repayment and become debt free within three years
Starting business debt free
Staring challenges in the face and then setting up processes to deal with them
How your energy attracts others when you love what you do
Here aha moment of balancing work and personal life came after fainting on the job
Starting a business with a vacation already on the books as a way of forcing herself to stay within her work-life balance
The profit first approach
How having a safety net (emergency savings) allowed her to shift from salon owner to business coach, especially during the COVID-19 shutdown
Starting a business out of passion and accidentally becoming an entrepreneur
Finding a way to fund the bills, whether through business ownership or side hustles
Starting her own podcast as another tool to achieve her life purpose
Giving yourself grace in your personal finance choices
Looking your financial challenges in the face rather than ignoring them

Links referred to in the episode, and how to connect with the guest, Kelly Knutson:

When I Grow Up Podcast

KelseyMarieKnutson.com

Kelsey on Instagram

Kelsey on Facebook

Profit First by Mike Michalowicz

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The Money Fit Show

Season 2: Episode #26

Make Your NOW Fabulous, Scott Harris Author of Leap Forward

Scott Harris is a well-known skydiver, veteran, businessman, and motivational speaker. Scott’s interactive keynote presentations and workshops make him popular with his audience. He uses his personal journey to create an exceptional storytelling experience for his audience. He utilizes the skills he has learned from his multifaced life experience to help entrepreneurs, managers, leaders, and young people face their fears and find a clear path forward with confidence and joy.

Parachuting into Elizabeth Taylor’s wedding to broadcast images from the blacked-out event
Joining the US Army at 17 years old at the tail end of the Vietnam War
Returning to college after leaving military service involved facing the challenges he had previously found difficult
Being an avid reader
Moving from merchant marine to engineering in Southern California
Facing the challenge of having his car’s engine blow up when he was already struggling financially
The phone call that may have saved his life
Putting yourself in a position to have good things happen to you when you need them
His “life-affirming” experience with the Universe
Being more concerned about doing your best and helping people than being concerned about money
Attributing success to a can-do attitude despite the challenges faced
Supporting others by helping others to embrace their own challenges
Rather than focusing on the end goal, focus on enjoying the journey
Looking at every obstacle and challenge as an opportunity to become and be better
Defining yourself not by your history or even your future, but by the forward movement of your present
Don’t just work for a paycheck
Conquering the moment while planning for the future
Finding joy and reward within yourself rather than looking for it externally

Links referred to in the episode, and how to connect with the guest, Scott Harris:

ScottKHarris.com

Leap Forward on Amazon

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The Money Fit Show

Season 2: Episode #25

Diversifying Income and Skills, Alvin Cowan of Simpatico Media Inc

Alvin Cowan is a veteran actor, writer, and producer from Austin, Texas, who has worked with legends like Clint Eastwood, James Caan, Bradley Cooper, and Bruce Willis. Alvin has a passion for sports, and his football prowess led him to become a record-setting quarterback at Yale, where he was inducted onto the All-Era Team. He then briefly played professional football with both the NFL and AFL.

After his athletic career, he moved to LA, where he landed a breakout recurring role in ABC’s “Back In The Game” followed quickly by a supporting role in Clint Eastwood’s “American Sniper.” He recently appeared on Season 2 of HBO’s critically-acclaimed series, “Westworld,” and had a recurring role in the Emmy-nominated show, “This Is Us.” He will next be seen in the highly-anticipated indie, “International Falls,” alongside Rachael Harris and Rob Huebel and guest-starring in the final season of the AMC hit, “Better Call Saul.”

The unplanned move from football to the acting and entertainment industry
Working in Eastern Europe working on country-oriented infomercials, gaining experience on the production side of media
Avoiding the idea of creating an exit plan from football created a singular focus but left him without a plan for money post-career
The startling financial lessons of moving to LA and having parental support for just three months
Going into debt to pay lifestyle bills and spending two years digging out of that hole
Stopped subscription renewals, cut back on social and entertainment, and lived in some less-than-comfortable housing arrangements
Finding stable income in football coaching
Diversifying income (particularly with rental properties) to avoid relying on the periodic income of creative endeavors
Diversifying skills by adding writing and eventually producing to his acting portfolio
Encouragement and support from mother
Adding the belief in ownership to the depression-era focus on saving as a way to build financial stability and security

Links referred to in the episode, and how to connect with the guest, Alvin Cowan:

Alvin Cowan on Twitter

SimpaticoMedia.xyz

Subscribe to the Money Fit Show today wherever you get your podcasts! You can also find us at moneyfit.org/podcast

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The Money Fit Show

Season 2: Episode #24

Parents, Financial Lessons, and Sports Stories, Amy Siegfried of Last Night’s Game

After seeing how the ability to talk sports gave her the upper hand as a woman in business, Amy Siegfried, a third-generation entrepreneur, created Last Night’s Game to give her friends the same advantage. Last Night’s Game empowers its readers and listeners to join the sports conversation, even if they don’t know the first thing about sports.

The value of a teacher’s influence
Influence of her entrepreneurial father and wealth manager mother
When parents never use credit cards, it can be difficult to learn about them growing up
Learning the best of both work worlds from each parent during summer work
Reasons for going back to school to get an MBA after having a journalism degree
Going away to college and learning to live independently
Managing your own finances and an allowance at college
Overdraw a bank account in college with an $8 balance
The benefit of using an authorized user card while in college
Getting into some troubles with a credit card after college
Relying on her mother’s wisdom but getting out of debt on her own
The difficulty of asking parents for help as a young adult
Shifting the perspective away from decent money with a job to a long-term career
Her mother’s gift of a binder of financial knowledge
Hearing lessons from someone who is not your parent
Resources for handling day-to-day financial decisions
Owning property/assets and the black hole of credit card debt
Switching to paying for things in cash and understanding how much you were spending
Asking yourself “Is this important?” when considering a purchase as a curb to instant gratification
Teaching children about money through cash
Why she decided to start Last Night’s Game
Starting a business between Thanksgiving and Christmas
Rufus the Wimbledon Hawk
Starting a business on a shoestring
Business decisions for an entrepreneur are also personal finance decisions
The allure of returning to the corporate world, a steady paycheck, and days off
Reviewing your reoccurring charges and canceling email subscriptions
Do one thing every day that scares you
Asking the question, “How did you fail today?” as a way of learning and improving

Links referred to in the episode, and how to connect with the guest, Amy Siegfried:

Last Night’s Game on Instagram

Last Night’s Game Home Page

Sports Curious Podcast

Splitwise App

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The Money Fit Show

Season 2: Episode #23

Careers, Money, Relationships, and Recessions, Tammy Trenta of Family Financial

As founder and CEO of Family Financial, Tammy Trenta empowers families and business owners to keep more of what they earn, preserving and growing their wealth. Using her decades of experience, she takes a holistic approach to financial management to help her clients achieve their financial goals. In addition to relentlessly advocating for her clients, she is also a strong proponent of mandating financial literacy curriculum in high schools and colleges across America.

Discovering yourself after high school
Losing college funding to her parents’ divorce was a gift in hindsight
Deciding between law school and business school
Learning to manage her own finances while working in the finance sector
The questions she thought were the right questions when you get married
How marriage and divorce made her a better advisor
Aligning financial goals with your partner
Having a shared bills account and separate spending accounts can help a marriage or partners
Going through an IRS audit post-divorce and the dangers of ignoring IRS request
CPAs and Tax attorneys
Emotions and finances
The fear we experience with money, investing, and recessions
When the stock market is down, think of stocks as being on sale
Tips for preventing credit card debt

Links referred to in the episode, and how to connect with the guest, Tammy Trenta:

Tammy on LinkedIn

Family Financial

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The Money Fit Show

Season 2: Episode #22

Being Honest about Money, Aja Evans of Aja Evans Counseling

Aja Evans is a board-certified therapist specializing in financial therapy. Aja’s expertise sits at the intersection of mental health and all things “money,” including finances, income, career, and wealth. She is a woman on a mission to get people engaged in living their best lives while attuning to their thoughts, feelings, and behaviors around money.

Enjoying seeing how clients make connections to how their history informs their current decisions
Formulating our money ideas by age 7
Feeling confident enough as a young person to make purchases with a cashier
Getting a grocery store job as a teenager and working through college
Moving to the city and trying to make it rain with no money
The Easter dinner conversation that changed her life
Becoming a consumer of personal finance knowledge
The importance of mental wellness and how it impacts our financial behaviors
The impact of money on freedom, feelings of self-worth, and other emotions
A few ways a couple may struggle with money because of how they value it or how they handle it
So much about being a couple is about how you communicate
The insecurity of not knowing where to get the information we’re lacking
Resources she read and paid attention to once she started her personal finance journey in earnest
Experimenting with budgets
The importance of being honest with yourself about your money
Giving yourself credit with the first, early step to personal financial stability

Links referred to in the episode, and how to connect with the guest, Aja Evans:

Aja Evans Counseling

Aja on Instagram

Find a Financial Therapist

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The Money Fit Show

Season 2: Episode #21

Money Mindsets, Alissa Locke of Money Mentor Group

Alissa Locke’s career in the insurance and financial services industries gave her knowledge about money, but it was her own financial journey – going from being a broke single mother with $60,000 of debt to being able to comfortably retire in her early 50s – that compelled her to become a financial coach. Alissa felt called to help people understand their relationship with money, improve their money habits and gain confidence around their finances. The Money Mentor Group provides individual financial coaching, group coaching, courses, and workshops.

The trauma of poor personal finance decisions
Growing up with parents who are good with their own money does not guarantee the child will
Feelings of deprivation can lead to overspending
Having $60,000 of debt as a recently divorced, single mother
Finding motivation as a single mother to create a better mindset around and relationship with money
Finding resources at the local library about banking, real estate, personal finance, investing, and the stock market
Changing the money mindset involves finding those who are on a similar financial journey as a support system
Being open and transparent with friends allows them to make similar changes
Even though you may be in debt, you need to accept where you are financially while understanding that this is not where you’ll always be
The danger of the phrase, “I deserve…”
Money messages we learned growing up formulate our money mindset in adulthood
Parenting money lessons Alissa tried to implement with her own daughter
Ideas for how to be open about money with a child
Teaching children the make decisions with money
Budgeting as a form of torture
Tracking the variable expenses each month and using separate, non-bill-paying accounts for them
Planning for periodic expenses

Links referred to in the episode, and how to connect with the guest, Alissa Locke:

Money Mentor Group

Alissa on Facebook

Alissa on Instagram

Your Money Mama on Instagram

Subscribe to the Money Fit Show today wherever you get your podcasts! You can also find us at moneyfit.org/podcast

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The Money Fit Show

Season 2: Episode #20

$2M in 60 Easy Recipes, Gordon Stein of CashflowCookbook.com

Gordon Stein is an international keynote speaker, blogger, personal finance expert, and author of Cashflow Cookbook - $2 Million of Financial Freedom in 60 Easy Recipes. He delivers transformational talks that help people crush their number one stress – their finances.

Going from the executive team to being unemployed
How a $13 car wash receipt changed his way of thinking about money
Researching little changes that would say $25 a month or more with minimal effort or sacrifice formed the basis for his new book
Using running and physical exercise to help himself focus
60 stories or vignettes form the basis of the book with practical ideas (“If I wouldn’t do it, it’s not in the book.”)
Example of getting medications much more cheaply by not paying full price at the local pharmacy, from $107+/month to just $7/month (saving $100/month adds up to $17,300 over 10 years, then invested for 40 years = $262,000 at retirement)
Look at saving like it is gamification. Savor the savings
Why paying off debt makes more sense than saving or investing
Importance of tracking your wealth monthly to change your mindset from
The power of dividends
At every level of income and for every lifestyle, there are opportunities to reprioritize your spending
The example of a lifelong Vermont janitor whose estate was worth $8M
Using savings from small purchases to pay down debt or grow wealth
Making paradigm shifts in how we approach our spending

Links referred to in the episode, and how to connect with the guest, Gordon Stein:

Cashflow Cookbook Website

Cashflow Cookbook on Amazon

Gordon on Instagram

Gordon on Facebook

Gordon on Twitter

Subscribe to the Money Fit Show today wherever you get your podcasts! You can also find us at moneyfit.org/podcast

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Cashflow Cookbook - Canadian Edition: $2 Million of Financial Freedom in 60 Easy Recipes

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The Money Fit Show

Season 2: Episode #19

Obstacles, Opportunities, and Small Victories, Tyler Foley of Total Buy In

Sean Tyler Foley is an accomplished film and stage performer and has been acting in film and television since he was 6 years old. He has appeared in productions including Freddy Vs Jason, Carrie, the musical Ragtime, and one of our family’s favorites, Door to Door. Tyler is passionate about helping others confidently take the stage and impact an audience with their stories. He is currently the Managing Director of Total Buy In and author of the #1 best-selling book The Power to Speak Naked.

Tyler’s entry into the world of stage and performance
Losing a father at six years old and using acting to process emotions
Excelling in school while acting professionally
How theatre affects the way Tyler runs his business now
The power of receiving a wallet as a gift with $20
Collecting stamps and trading cards
The medical crisis that prevented his graduation from his arts school
Withdrawing from the high school musical
Determination to leave hometown to seek success in Vancouver, BC
The blessing of not having a definitive diagnosis
The power of mentors and personal development
Surviving the challenges of a job dependent on travel when COVID hit because of the lessons learned from 2015 difficulties
Experiencing unemployment and maternity leave simultaneously just after moving into your dream home
Receiving a $17 check after the sale of their dream home
Pairing down housing expectations and luxury expenses even more
Risk, inflation, and running your own business vs going through layoffs
Moving to self-employment through a partnership first
Breaking out as an author after self-publishing
Tracking your net worth and your assets
Celebrating small victories

Links referred to in the episode, and how to connect with the guest, Tyler Foley:

SeanTylerFoley.com

Total Buy In

The Power to Speak Naked book

Virtual Facebook Group Endless Stages

Erin Skye Kelly’s Get the Hell out of Debt

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The Power to Speak Naked: How to Speak with Confidence, Communicate Effectively, and Win Your Audience

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Season 2: Episode #18

Honest Moments and Failing Faster, Beate Chelette, Author of The Women’s Code

Despite enduring multiple personal and business disasters that led her to start and restart her personal finance journey, Beate Chelette never gave up. She’s a firm believer and a solid example of self-determination, being a first-generation immigrant to the US. For no other reason, make sure you listen to this episode to learn which three questions you need to ask yourself in a moment of complete honesty.

Accumulating debt throughout a decade, including a riot, an earthquake, floods, fires, 9/11, and lawsuits
Losing her business and income multiple times
Borrowing money to pay interest on borrowed money
Starting a business because she felt otherwise unemployable
Your successes and failures are your own, not the fault or the result of a system
Having an honest moment with yourself to determine if life is happening to you, life is happening for you, or you’re making like happen
Clarifying your mindset is at the root of success
The moment in nether Bavarian in front of a Baroque church that seems to define her life
Surrendering control over every aspect of life (let God/let go)
The White House letter that answered her plea and helped her restructure her debt
The reason behind the writing of her book
Putting in the work to succeed requires you to take risks and get out of your comfort zone
Leaving home before 17 because of the challenges of a parent’s mental illness
Worrying about bills just twice a month
It doesn’t matter where you are or what the future looks like now, you need to trust this is not your destination
Imagine a light switch in every room in which you find yourself in life
Use failure as a strategy, fail faster, and think of failures as the stop signs of life

Links referred to in the episode, and how to connect with the guest, Beate Chelette:

BeateChelette.com

Beate on Instagram

Beate on Facebook

Beate on Linkedin

Beate on Twitter

Business Growth Architect Podcast

The Women’s Code book

Subscribe to the Money Fit Show today wherever you get your podcasts! You can also find us at moneyfit.org/podcast

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Season 2: Episode #17

Money Is Energy, Michael de Haan of Quantum Leap Global

Michael de Haan has built his business at Quantum Leap Global to address the self-sabotaging beliefs and mindsets he grew up with and carried within him throughout his young adulthood and even throughout much of his first marriage. Join Todd and Michael as they discuss how to undo and remake your financial beliefs at any age.

Incorporating our financial life into our whole life
Michael’s relationship with money and its emotional side was highly influenced by his experience with scarcity and a self-sabotaging myth that he was unworthy of success
The problems created by couples leading financially parallel lives
Feeling worthy of financial satisfaction and success
The influence on children of parents fighting about money or using money as a condition for love
Financially sleepwalking through life, living our parents’ lives rather than our own by design
The importance of partners being financially aligned from early on
Taking the time to be intentional as a couple about money and envisioning your future
How you subconsciously get rid of any amount of money if you aren’t comfortable even with small amounts
How even the wealthy can see themselves as at risk financially and don’t live financially free
Beliefs create your thoughts and your thoughts create your reality
The difference between focusing on dollar amounts and a life by design based on Michael’s 5 Ls: Where you live, what you love doing, what you’re learning, what makes you laugh, and what your legacy is
Training your subconscious to work for your ultimate success
“Your life is a printout of your subconscious mind.”

Links referred to in the episode, and how to connect with the guest, Michael de Haan:

Quantum Leap Global

Michael on LinedIn

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Season 2: Episode #16

Money Mindsets, Shifts, and Stories, Gael Wood of Elevate with Gael

Successful massage therapist turned successful online business owner, Gael Wood shares her journey from difficult financial situations to financial triumphs. It’s not all about the income, the spending, or even the advice. She frequently had to prioritize and address her money mindset to fit the situation and challenges.

Losing a home during the Great Recession
Creating an eBook based on her professional expertise
When bad things happen when you’re doing things right
Starting a family business and then trying the laptop lifestyle
The stress and power of risk involved in running your own business
What’s the worse thing that could go wrong, and can you handle it?
Working together as a couple and dealing with money problems
Hiring a best friend and keeping him busy during slow business times
The hustle of starting your own business
Loving your work means the demands are sacrifices
Staying motivated to keep your business going
Adding content creation to the online business and hiring a virtual assistant
The frustration of planning for business taxes and preparing your own tax return
Pushing yourself out of your comfort zone to learn new skills
Using credit even after having made mistakes
The importance of maintaining a household savings fund
Thinking for yourself rather than blindly following a popular author
Listening to your partner and compromising when it comes to household finances
Learning to use money as you would any other tool
Creating situations and opportunities to grow your personal finances

Links referred to in the episode, and how to connect with the guest, Gael Wood:

ElevateWithGael.com

Gael on Facebook

Gael on Instagram

Gael on YouTube

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Season 2: Episode #15

Looking beyond the Difficult Moment, Jon DiSavino of Short Story Today

A graduate of a fine arts college who pursued acting as a young adult, Jon DiSavino took on a different role as a father to raise his daughter and put his family “on solid ground.” The acting bug never left, though. Jon shares his personal finance journey through acting as a young person and how he approaches it nowadays after retiring from his “day job.”

The Origin of Jon’s passion for the stage and theater
Actors as a combination of independent contractors, freelancers, and small business owners
Facing the instability of income as a young actor
The role of periodic unemployment income in the lives of many actors
The shifting of the notion that personal finance is personal and should not be included in school curricula
Changing priorities with the birth of Jon’s daughter
The challenges of repeated rejections as an actor
Paychecks as an actor in a union member
What Jon would tell his 18-year-old self about his future finances
Desperately wandering around Manhattan at age 24 looking for work
Looking beyond the moment during times of difficulties and isolation
Having the will to make something of life
Building a personal brand post-retirement
Connecting with the community of emerging writers via Twitter and using Short Story Today podcast to help others
The powerful role a good credit rating has played in Jon’s life

Links referred to in the episode, and how to connect with the guest, Jon DiSavino:

ShortStoryToday.com

JonDiSavino.com

Jon on Facebook

Jon on LinkedIn

Jon on Twitter

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Season 2: Episode #14

Mentors, Givers, and Mindful Questions, EA Csolkavits of GIVERS University

As founder and self-described patriarch of GIVERS University, E. A. Csolkavits attempts to share and spread the experiences he had as a young man when he met and was mentored by multiple successful and very generous people. E.A. shares his own journey from humble beginnings to success along with the mentors he sought and found along the way. He made a commitment early in life to share what he learns about givers and takers and how to help others identify and achieve success of their own.

Growing up the son of a milkman and learning to run a business
Working at 16 years old as a bonded janitor June Martino
The impact that the generosity, kindness, and approachability of June Martino – an early McDonald’s co-owner and bookkeeper to Ray Crock
Finding a mentor and becoming an advocate for mentoring
Working for Sam Robbins in the diamond industry
Interviewing more than 1,000 millionaires in two years and understanding that they all had a story about being in financial troubles before finding success
His mentor turned desperation during the Great Depression into a million dollars in less than two years
Success results from solving other people’s problems instead of focusing on your own problems
“You’ll never have money problems. You’ll have idea problems.”
To get the right answer, focus on asking the right question
Mentors are there to solve all your problems but to help you grow and improve
Givers versus Takers
25 Deeds to tell whether someone is a Giver (wisdom, wealth, and wellness) or a Taker (defeatism, disruption, and destruction)
Declare And Turn Around (DATA Reset) to turn from a Taker to a Giver
The 3 phrases to say to yourself every day: I will never give up. I will keep rising up. And I will always overcome.

Links referred to in the episode, and how to connect with the guest, EA Csolkavits:

GIVERS University

GIVERS University YouTube Playlist

GIVERS University on LinkedIn

GIVERS University on Twitter

GIVERS University on Instagram

GIVERS University on Facebook

Subscribe to the Money Fit Show today wherever you get your podcasts! You can also find us at moneyfit.org/podcast

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Season 2: Episode #13

The Road to Alternative Investments, Chris Odegard of The Prolific Investor

In a 24-hour period, Chris Odegard’s life turned upside down with divorce. From one day to the next, 55% of his assets were transferred out of his control, he became responsible for paying child support, and had to start paying alimony.

Exceeding the expectations of our youth
Losing more than half your assets in your 40s
Beyond its emotional consequences, divorce can result in the loss of more than half your assets, paying child support, and paying alimony.
Choosing to work longer, reduce your lifestyle, or start down a different career path
The effect of learning about real estate investments as compared to the 401K road to mediocrity
“The teacher will appear when the student is ready.”
The risks and rewards of starting over and starting to invest in alternatives or staying in traditional markets
Expecting the up-sale at investment seminars
Preparing yourself for others close to you to try to dissuade you from nontraditional opportunities
Taking advantage of podcasts and YouTube to learn more about virtually anything
National and local Real Estate Investors Association (REIA) partnership opportunities
Starting investing in real estate with a college duplex purchased with his daughter
Moving from a W2 job to the passive income of real estate investments
Financial considerations of real estate investing versus securities in the market
Changing your life by doing “the one thing” that is most important

Links referred to in the episode, and how to connect with the guest, Chris Odegard:

TheProlificInvestor.net

Get off Your A$$ and Manage Your Money: Why You Need Alternative Investments

National Real Estate Investors Association Local Search

Rich Dad Poor Dad book on Amazon

Rich Dad Poor Dad training organization

Gary W. Keller’s The One Thing book

Matt Foley: Van Down by the River – SNL (Chris Farley)

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The ONE Thing: The Surprisingly Simple Truth About Extraordinary Results

Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!

Get off Your A$$ and Manage Your Money: Why You Need Alternative Investments

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Season 2: Episode #12

Motorcycles, Minivans, and Money Lessons, Leah Ellis of Endeavor Financial Coaching

Financial coach and founder of Endeavor Financial Coaching, Leah Ellis and her husband, Nathan, spent years in the debt cycle that included consumer splurges before Nathan’s business deployments and getting into $100,000 of minivan and solar panel installment loans in just one week. Listen in as Leah shares their story of financial frustration and despair over the accident to heartbreak and anguish over explaining to their kids that they can’t afford their traditional family activities, to their determination and persistence in getting out of $123,000 of debt in less than two years.

The financial consequences of a motorcycle accident right after taking on a lot of new consumer debts
How a lack of emergency savings rushed Nathan’s healing, and not for the better
How a small savings fund instead of debt would have made a world of difference
What motivates many families to start building their emergency fund
Financing $100,000 of consumer debt in six days with the birth of her second daughter
Justifying a new car for the family by misidentifying wants as needs
The heartbreaking moment you realize your new consumer bills exceed your household income, and your children will have no financial future
Paying off $123k of debt in 23 months, including $80k in one year after closing their credit card accounts
It all becomes real when you have to tell your daughter you can’t take her to 6 Flags
Learning from our powerful emotions associated with failures
The consequences of teaching children about finances and financial mistakes, starting as young at 5 years old
Ideas for giving an allowance to young children
The only three things you can do with money: spend, save, or give
Correlating working for money with getting paid
The worry about sharing confidential financial information with your children
How to explain the concept of loans and debt to a young child
Slaying money dragons by sitting down to do a budget and establishing clarity

Links referred to in the episode, and how to connect with the guest, Leah Ellis:

Endeavor Financial Coaching

Leah on Facebook

Subscribe to the Money Fit Show today wherever you get your podcasts! You can also find us at moneyfit.org/podcast

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Season 2: Episode #11

Believing in Yourself to Get Debt-free, Rachel Murphy of Rachel Murphy Coaching

Podcast hotel and financial and parenting coach, Rachel Murphy, shares her household’s story into and out of $50,000 of non-mortgage through struggles and challenges with running a business, employment, building a home, and raising financially confident and competent children.

Working 2½ jobs to keep a tech company going at the end of the late 90s Tech Bubble
Dealing with failure in household finance
Experiencing 3 layoffs in 9 months followed immediately by 9/11
Losing confidence in your earning potential
Paying off $50k of debt in 5 years earning no more than $30k/year
What they did when their friends, family, and even pastor were urging them to file for bankruptcy
“Don’t think about the how”
Living frugally as a family and parenting on a dime
Using a nonprofit credit counseling program
Hitting rock bottom mentally before starting their journey out of debt
Successfully paying off $50k of debt changed their perspective on life
Building a log home as a family in 3½ years after taking a 2-day class and having no construction experience, all while living in a 33’ travel trailer with four children
Giving the kids, from 2 to 13, jobs and tasks to help, learning a strong work ethic
Building confidence in children through learning life skills using the Confidence-Competence Loop
Brain development in teens and “pruning”
Teaching children about money across the full financial spectrum, turning over parts of the family budget to the child
Tip to get one month ahead on your bills to minimize financial stress

Links referred to in the episode, and how to connect with the guest, Rachel Murphy:

Rachel Murphy Coaching (with tools and resources for our listeners)

Brendon Burchard

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Season 2: Episode #10

House hacking, Jack Allweil of Fired-to-FIRE.com

Jack Allweil, founder of Fired-to-FIRE.com started house hacking by renting out unused rooms in the house he bought after losing his job in Charlotte, NC. Within a few years, he had purchased 10 “doors” (rental units) back in his home state of Michigan plus a short-term rental property in Myrtle Beach, SC. In this episode, Jack shares his story along with the lessons he learned along the way.

Choosing the career of an actuary
What an actuary does and who they typically work for
How a trip to Europe changed his personal and financial life
Simple ways Jack’s parents encouraged financial independence without formally talking about it.
The value and security of having some money in the bank when facing unemployment
The power of reading and watching videos about personal finance and personal economics
How Jack started house hacking in 2017 by finding a home in foreclosure and financing the down payment with a 401K loan
Tools to find and screen roommates
Maximizing the rents and minimizing the financing costs
Challenges of house hacking, splitting utility bills, and going to mediation
House hacking as a learning opportunity through experience, podcasts, and other sources
Expanding to three homes in a different state using Bigger Pockets strategy
Diversifying with a short-term rental (condotel) in a tourist destination
The challenge of finding cleaners when going with Airbnb
Opportunities for getting into investment properties with owner-financed
Dealing with long-distance real estate requires setting up systems
Overestimating the influence you have on others’ lives but underestimating the influence we can have on our own lives

Links referred to in the episode, and how to connect with the guest, Jack Allweil:

Fired-to-FIRE.com

MySmartMove.com

Bigger Pockets Podcast

Mint.com

Robert Kiyosaki and Personal Finance Statement

Personal Capital

Jack on LinkedIn

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Season 2: Episode #8

Choosing Financial Contentment, Scott LaPierre

Washington pastor, Scott LaPierre, and his wife, Katie, focused together on paying off their debts on just one income while also raising 9 children. Scott shares their experiences, believes, decisions, and approaches to how they’ve achieved their financial balance despite the obvious challenges.

Challenges to living on a single income
Not letting your possessions possess you
We begin to take things for granted when they become too frequent
Dealing with vehicle, mortgage, and consumer debt after getting married on a single, modest income
Our culture’s income problem
Justifying lots of small, “useless” purchases
The needs of housing, clothing, and food
What the growth in storage units says about our society
Spending our two most valuable resources: time and money
Sacrifices, satisfaction, and contentment
The power of generosity in life
Wealth is a magnifier of who we are
The stewardship of money and possessions
The Stanford Marshmallow Experiment and self-control

Links referred to in the episode, and how to connect with the guest, Scott LaPierre:

ScottLaPierre.org

Scott on Amazon

Scott on Twitter

Scott on YouTube

Stanford Marshmallow Test

Please subscribe to the Money Fit Show today wherever you get your podcasts! You can also find us at moneyfit.org/podcast

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Season 2: Episode #9

Never too Late for Financial Freedom, Howard Dekkers of HowardDekkers.com

Although his father taught him to save 10% of everything he made, Howard Dekker found himself living paycheck-to-paycheck through his 20s and 30s, even with a high income and as the owner of a million-dollar business. Realizing he and his household were just one event or crisis away from bankruptcy, he began implementing his father’s advice and building upon it by sharing it with young people and adults. His clear message: It’s never too late to start investing.

Living paycheck-to-paycheck through his 20s and 30s, even after his father taught him to save 10% of everything he made
Even at high income and as an owner of a highly valued business, he had no savings or financial backup
His father retired at age 55 as a millionaire after working as a tool and dye worker because he saved and invested regularly
The excitement from having a financial freedom plan
Why creating a feeling of economic scarcity in his household helped
What Howard is teaching to students and adults to help them create a financial freedom plan
The power of compound interest and teaching people how money grows
Building your budget around your desired lifestyle
Why Howard looks forward to stock market drops
Young people are ready to learn the concepts but struggle with the implementation
Never too late, even in your 50s, to start investing

Links referred to in the episode, and how to connect with the guest, Howard Dekkers:

HowardDekkers.com

Facebook – Financial Freedom Is within Your Reach

Instagram – Howard Dekkers

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Season 2: Episode #7

The Windy Roads of Personal Finance, Daniel Blue of Question Education

The challenges and setbacks of childhood led our guest, Daniel Blue, toward addiction and overspending. But, they also play roles in his eventual path out of these difficulties and into homeownership, entrepreneurship, and even mentoring others along the way.

Daniel’s struggles with OxyContin
How Daniel found strength, motivation, and support to leave his addiction behind
Despite his great income in sales as a young adult, Daniel started building credit late and struggled to build wealth because of his spending behaviors
Buying a home just before the housing market crash in 2008
Insurance premiums on nice cars we bought as young adults
Changing from the victim mentality to an attitude of gratitude to find peace
Starting without the perfect plan but with a desire to succeed and to learn from others
Taking advantage of pre-established good money habits when starting a business
Mentoring goes both ways
Dealing with the victim mentality to pay off credit card debt
Using retirement accounts to pay off debt
Moving forward with confidence

Links referred to in the episode, and how to connect with the guest, Daniel Blue:

Free Course from Daniel Blue for the Money Fit Show Listeners

Daniel Blue Article on Forbes

Blueprint to Your Best Retirement

Daniel Blue.me

How Winners Win Podcast on Apple

Subscribe to the Money Fit Show today wherever you get your podcasts! You can also find us at moneyfit.org/podcast

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B.L.U.E. Print To Your Best Retirement: How to Access Your Retirement Account Penalty and Tax-Free

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Episode #2

The Debt Payoff Planner, Brady Benware, Co-creator of Debt Payoff Planner

It all started during a Thanksgiving dinner conversation with his brother-in-law. Brady Benware and his co-creator of The Debt Payoff Planner wanted to remove one of the biggest barriers that consumers bump up against when trying to create a debt repayment plan: doing the math. In this episode, host Todd Christensen speaks with Brady about how they incorporated elements of human psychology into their product and why willpower is not enough.

Automating the complexities of doing the math of getting out of debt
The frustration of relying on willpower only when getting out of debt
How automation addresses the snowball versus avalanche dilemma
Celebrating every milestone along the way to debt freedom to stay motivated
Incorporating human psychology into the debt elimination process
Keeping progress front-of-mind to stay motivated
Story of a woman with $45k of debt
The 5 approaches for paying off debt

Links referred to in the episode, and how to connect with the guest, Brady Benware:

The Debt Payoff Planner
Brady Benware on Twitter (@brady_benware)

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Season 2: Episode #5

Transforming the Debt Resolution Firm

Guest Name: Leslie H. Tayne

About the Guest: Rounder and managing director of Tayne Law Group PC and Author of Life & Debt

Debt relief attorney and author of Life & Debt, Leslie H. Tayne, shares her personal journey through law school and into her attempts to recreate the debt settlement industry. Join her and host, Todd Christensen, to learn about how debt resolution firms work, who they work for, who they don’t work for, how to choose a legitimate company or attorney, as well as the realistic and potential consequences of resolving your debts this way.

Leslie’s journey to becoming an attorney practicing debt resolution on behalf of consumers
The lack of discussion of student loan debt and credit card debt in law school
Wanting to change the face of the debt settlement world
Challenges confronting consumers seeking debt relief
An overview of debt settlement as compared to other debt consolidation options
No one debt relief option exists for all consumers
Whether a consumer is an ideal debt settlement client depends on the type of debt, the consumer’s willingness to settle, the consumer’s expectations, and even the consumer’s professional background
Types of debt included and excluded from settlement
Ads, definitive statements, and promises that should serve as red flags of scams or unscrupulous businesses
Debt settlement has many ramifications, from legal, credit, accounting, tax, and personal issues to homeownership and financial issues
Credit as a concern surrounding debt settlement
Consequences of working with the wrong debt settlement company
Credit scores may bounce back even during the debt resolution process
Debt settlement can relieve stress and reduce expenses

Links referred to in the episode, and how to connect with the guest, Leslie H. Tayne:

Tayne Law Group PC (866) 890-7337

Leslie on LinkedIn, TikTok, Instagram, Pinterest, Facebook, and Twitter

Life & Debt

Subscribe to the Money Fit Show today wherever you get your podcasts! You can also find us at moneyfit.org/podcast

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Life & Debt: a fresh approach to achieving financial wellness

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Season 2: Episode #4

Becoming Money Smart in the Face of Life’s Challenges

Guest Name: Gary Grewal

About the Guest: Author and Founder of Financial Fives

Author of Financial Fives, Gary Grewal, shares several of his financially formative experiences, from growing up with a mother who exemplified positive financial qualities to learning from the mistakes of others (friends, neighbors, and customers at work). Because of these lessons, Gary has avoided credit card debt his entire life. That’s not to say he’s never made financial mistakes or that he wasn’t tempted to use credit cards and debt contrary to these lessons. Still, listeners will learn valuable lessons themselves from Gary’s experiences and from the advice he shares about money, credit, debt, and the power of respectful negotiations.

Gary learned the value of a dollar from his mother and the power of negotiation and the value of investing from a mentor.
His determination to stay out of debt sprang from a certain amount of fear based on the negative financial experiences of Gary’s neighbors and friends.
When working at Circuit City, a customer was stunned when she was declined for the store credit card after having just got a mortgage and taken out two car loans.
The tradeoffs between consumer debt and missed opportunities.
The importance of doing your research before opening a credit card or store card.
Negotiation skills are critical in our society, but a good negotiator does it from an informed and respectful perspective.
Good negotiators see themselves as an equal to the other party, regardless of where the power lay.
Laying out five financial priorities: know what you’re worth, know how much you bring in and spend, automate your finances, lower your cost of borrowing, and know what’s important to you.
The principle of minimalism is all about prioritizing and intentionality.

Links referred to in the episode, and how to connect with the guest, Gary Grewal:

FinancialFives.com

Financial Fives Book by Gary Grewal

Automatic Millionaire Book by David Bach

Subscribe to the Money Fit Show today wherever you get your podcasts! You can also find us at moneyfit.org/podcast

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The Automatic Millionaire, Expanded and Updated: A Powerful One-Step Plan to Live and Finish Rich

Financial Fives: The Top 325 Ways to Save, Earn, and Thrive to Retire Before 65

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Episode #3

The Art and Gift of Life-long Career Planning

Guest Name: Mark Herschberg

About the Guest: Author of The Career Toolkit: Essential Skills for Success that No One Taught You, Mark Herschberg

Author and MIT educator, Mark Herschberg, shares key insights and practical tips about how to create a career plan. It doesn’t matter if you’re a high school student or you’re in your 50s and thinking about starting your own small business. From reverse engineering your dream profession to becoming a master negotiator in all aspects of your life to ensure everybody wins, these concepts and principles can make a huge difference in your life.

Career planning extends far beyond the high school or college student getting ready to graduate.
Approach your career as you would a 10-15 year project, planning for regular changes.
Different people will approach their career planning differently.
Questions to ask yourself about what you want out of a career, but also question about what you want out of life.
Reverse engineering can be applied to the process of getting your dream job.
Career planning for entrepreneurs and company founders.
Starting a small business later in life.
Consider your compensation as not just your salary and benefits but also the experience, skills, and network you are building on your career path.
The value and role of negotiating in career planning, from salary to growth and opportunities.
Negotiations are not just zero-sum situations like buying a car on CraigsList. Good negotiators create win-win solutions.
You and the other parties are negotiating “partners.”
Creating a peer group to benefit all involved.

Links referred to in the episode, and how to connect with the guest, Mark Herschberg:

TheCareerToolkitBook.com

The Career Toolkit book on Amazon

The Career Toolkit on Twitter

Mark Herschberg on LinkedIn

The Career Toolkit on Android or iPhone

Career Toolkit Resources and Downloads Page

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Episode #2

Wealth, Lifestyle Priorities, and Generational Legacies

Guest Name: Walli Miller

About the Guest: Founder of Financially Thriving, a three-month, 1:1 coaching program for young professionals. Her “goal is to help women become the first millionaires in their families.”

Walli Miller shares the story of her personal financial journey, from mindless spender with very little to show for all her work to not only the first college graduate in her family but the first millionaire as well.

Confidence with money starts with accepting possibilities
Walli’s no-spend challenge led her to recognize her mindless shopping behavior
Mindless spending not only includes making major purchases but also includes purchasing lots of little things, even at discount stores.
Positive changes can result from negative experiences at one’s place of employment.
Start by understanding your monthly income (not just your salary) and then get a clear understanding of how you’re spending your money.
How to live in an expensive area and still progress financially, without feeling deprived.
Be aware of and minimize lifestyle creep by focusing on priorities.
Life priorities should trump financial priorities.
Developing a money mindset involves our approach to financial behaviors, goals, and habits.
The FIRE Movement (Financial Independence-Retiring Earning) taught her about building wealth, not just earning more money.
Financial independence and wealth mean more than just having money. It means you are creating a family financial legacy.

Links referred to in the episode, and how to connect with the guest, Walli Miller:

Financially Thriving Website

Financially Thriving on Instagram

Financially Thriving on Facebook

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The Money Fit Show

Episode #1

Helping Gen Z Discover FIRE… with Guac

Guest Name: Darcy Guac

About the Guest: Founder and Chief Blogger of We Want Guac where she provides a guide for Gen Z on the path to wealth, supporting young professionals on the best practices for investing, lowering expenses, and earning higher career incomes.

In this episode, Darcy Guac shares her personal journey from growing up in a town voted “Worst Place to Live” in the US to placing herself solidly on the path to early financial independence. Darcy’s experience shows how others can pursue the do-it-yourself approach to personal financial stability and success.

Movies that are “financially independent-recommended” (Office Space and The Matrix).
Defining FIRE as Financial Independence and Retiring Early
The Plutus Award Best Generational Financial Literacy Content for focusing on Gen Z.
Darcy’s Personal Finance Journey began in the “Worst Place to Live in the United States” and arrived at college without knowing much about managing money.
After finding a job in Boston in 2016 through a temp agency, Darcy stumbled upon forums for financial education resources.
Finance 2.0 was very interactive, and people were very open to sharing their experiences and financial decisions.
Darcy’s plans and experience with student loan debt.
Darcy recommends reading articles, joining a financial independence subreddit, listening to podcasts, watching YouTube videos, and even watching TikTok videos of people’s tips and stories of financial success.
How to approach asking questions when you’re hesitant or shy. Darcy read and listened until she kind of knew what she didn’t know so she could more confidently ask informed questions.
Darcy was always amazed at how many financially successful people were willing to share their time and tips.
Darcy’s efforts at WeWantGuac and why she chose the name.
The piece of practical advice Darcy shares has to do with getting comfortable with learning about and talking about finance.

Links referred to in the episode, and how to connect with the guest, Darcy Guac:

WeWantGuac.com

WeWantGuac on Twitter

WeWantGuac on Instagram

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Episode #32

Maximizing the Financial Benefits of Joining the US Military

Guest Name: Mario Pile

About the Guest: Mario Pile, Project Director of Veterans Upward Bound at Boise State University

Many young people choose to go into the military right after high school. Regardless of the branch you enter, you can find many benefits to your service, from decent and regular pay to retirement plans and payments for a future college education. Unfortunately, as our guest points out based on his personal experience and his professional time working with veterans, too many of our service members go into the military without establishing for themselves what they actually want out of their military experience beyond a steady paycheck.

Episode Highlights

Proactively understanding what you want out of joining the military
Taking advantage of the TSP (Thrift Savings Plan) and the GI Bill
Where to find the free PFCs (Personal Finance Counselor) on bases
Answering the question of whether the rising cost of a college education is still worth it (spoiler alert: YES!)
The smart move of using community colleges before going to universities, especially for potential officers
The varied job opportunities for both officers and enlisted

Links referred to in the episode, and how to connect with the guest, Mario Pile:

Veterans Upward Bound (VUB)

Mario Pile at VUB

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Episode #31

Gaming Our Way to Financial Literacy

Guest Name: Luke Erickson

About Our Guest: Dr. Luke Erickson is an Accredited Financial Counselor (AFC), REALTOR®, and Associate Professor of Personal finance in the Margaret Ritchie School of Family and Consumer Science at the University of Idaho

Dr. Luke Erickson and his colleagues have developed several virtual learning activities (games) like Night of the Living Debt and Credit Score Millionaire for high school students and adults. In this episode, Luke shares his thoughts about various learning methods and teaching approaches in personal finance education.

Night of the Living Debt and Credit Score Millionaire
How we learn differently about money through games
Different ways of learning about personal finance, from lectures to classrooms to games
How we learn failing and how games offer chances to fail in no risk situations
Anybody can be financially successful
The approach and qualify of financial education programs matter
The value of face-to-face interaction and field trips in learning about finances
Invest regularly in your own financial education

Links referred to in the episode, and how to connect with the guest, Dr. Luke Erickson:

Northwest Youth Financial Education

Night of the Living Debt

The Credit Score Millionaire

Luke Erickson at the University of Idaho

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Episode #30

What’s in a Name? A Lot if It’s an FCS Class

Guest Name: Theresa Golis

About the Guest: Program Quality Manager with Idaho Career and Technical Education

Family and Consumer Sciences classes can provide students from middle through high school with life skills so many adults wish they had developed themselves earlier. Class names and topics can vary from state to state and sometimes even district to district, so check with your local FCS teachers to see which classes will be best

The challenges of being a saver but not a good comparison shopper
Family and Consumer Sciences (FCS) classes that involve finances
FCS classes are available as early as 6th grade and are hands on regarding budgeting, purchasing, planning, and even advocating for themselves
Finding FCS classes by names in different states
In some states, certain FCS classes may meet the economics graduation requirement
Financial topics in FCS classes can include banking, insurance, budgeting, mortgage rates, homebuying, taxes, renting costs, sustainability, etc.

Links referred to in the episode, and how to connect with the guest, Theresa Golis:

Idaho Career Division of Career-Technical Education

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Episode #29

Scams, Disasters, Pandemics, and Puppies

Guest Name: Rebecca Barr

About the Guest: Rebecca serves as the PR and Communications Manager with the Better Business Bureau of Great West + Pacific. The “BBB helps people find and recommend businesses, brands, and charities they can trust.”

When most people see victims of disasters and emergencies, they want to reach out and help. Unfortunately, scammers and fraudsters see those disaster victims as tools to turn the generous-hearted into financial fraud victims. Rebecca Barr shares tips to help you avoid becoming the victim of a scammer.

How pandemic-related scams compare to scams during normal times
Cons sell pandemic-related products
Crowdfunding has become a new source of scams and fraud following disasters
How to give with confidence: research and vet those requesting money
What to do if you think you’ve donated to a scam
The emerging and reoccurring puppy scam during COVID-19

Links referred to in the episode, and how to connect with the guest, Rebecca Barr:

Trust-BBB.org

BBB News of the Latest US Scams

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Episode #28

Becoming Your Child’s Financial Teacher

Guest Name: Eric Yard

About the Guest: Founder and Host of the Raising Financial Freedom, a podcast for parents who want their children to grow up financially smart or free

Whether you’re teaching your young child about the value of saving or your teenager the importance of assets and liabilities, parents need to make it a priority and make it fun. Parents are the first teacher their child sees each morning and the last teacher their child sees at night. Using teaching opportunities to help the child build a positive relationship with money.

The value of investing in assets
Importance of teaching children about assets and liabilities
The 2-3:1 ratio of assets to liabilities
Candy machines are assets for the owners but liabilities for the consumers
Make it fun to teach children about savings, budgeting, and investing
Despite the COVID-19 pandemic, saving for emergencies is still relevant
Resources for teaching financial literacy to children include books (and reading with them)
Money as a tool, not a source of emotion
Influence of parents on their children’s relationship with money
Children need to learn valuable budgeting techniques by the time their 10 or 11

Links referred to in the episode, and how to connect with the guest, Eric Yard:

Raising Financial Freedom

Info@RaisingFinancialFreedom.com

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Episode #27

The Benefits of 529 College Savings Plans

Guest Name: David Bell

About the Guest: Deputy Director with the office of the Oregon State Treasurer

Most College Savings 529 plans are housed at their state treasurer’s office, so we asked David Bell, a previous guest on the Money Fit Show (Episode 13) back to discuss the ins and outs of how college savings 529 plans can benefit students and their parents.

Episode Topics

The Basics of a College Savings 529 Plan
Federal and State Tax Benefits for Contributors to 529 Plans
Why May 29 Is College Savings Day Each Year
Using 529 Plans in States Other than Where You Live
Using Your State 529 Plan to Go to School Out of State
Using 529 Plan Funds for College, Trade Schools, Apprenticeships, etc.
Using 529 College Savings for Private K12 Tuition
Options for Your 529 Funds if the Student Chooses Not to Go to College
The Minimal Penalty if Funds Are Withdrawn for non-Educational Purposes
The Motivational Aspect of a Child Knowing They Have a College Fund
Recommendation to Start Researching Your State’s 529 Program

Links referred to in the episode, and how to connect with the guest, David Bell:

Oregon College Saves Program

Oregon State Treasury Savings Network Financial Empowerment

IRS Information about 529 Deductions

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Episode #26

FCS Stories and Resources for Life’s Financial Lessons

Guest Name: Barbara Scully

About the Guest: FCS Teacher and Podcaster with Connect FCS Ed

Family and Consumer Sciences courses involve a lot of financial lessons, whether as part of a personal finance class or as part of a health, textiles, or child development discussion. Teacher, podcaster, and blogger, Barbara Scully, shares her experiences and those of her FCS students coming out of her classrooms, as well as many of her favorite resources available to other teachers, parents, and mentors.

Types of family and consumer sciences (FCS) that include personal finance
How FCS course names vary by district and state
The demand for FCS courses and teachers
Various disciplines within FCS: finance, health, relationships, etc.
Typical feedback from FCS students
Lesson learned by FCS students
Classroom resources accessible by parents and mentors
Junior Achievement’s Biz Town as a role-playing financial activity

Links referred to in the episode, and how to connect with the guest, Barbara Scully:

FEPPP (Financial Education Public-Private Partnership in Washington State)

NGPF: Next Gen Personal Finance for Teachers

Junior Achievement

econedlink.org

EverFI

M Is for Money (Rob Phelan)

ConnectFCSEd.com Podcast and Blog

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Episode #25

Money Habits Parents Can Help Their Young Child Build

Guest Name: Sam X. Renick

About the Guest: Sam X. Renick is the Author of the Sammy Rabbit books and the founder and driving force behind the Sammy Rabbit company and movement.

Episode Description

In this financial idea-packed episode, Sam X. Renick shares many of the ways he recommends parents approach financial education with their children, starting as early as 3 years old. Whether you’re living what you preach or not, he says, never let advertisers be the principal financial teachers of your children.

By the age of 3-5 years, children are already asking money-related questions, so it’s time to start talking to them about finances.
Parents too often underestimate their young child’s ability to grasp financial concepts.
Don’t force children to articulate complex financial ideas
If parents don’t teach their children what they think is most important about money, outside forces such as advertisers will.
Start with the habit of helping children to save. Besides its personal finance aspects, a habit of savings teaches delayed gratification, discipline, and goal setting.
By 10 years of age, lessons about choice-making and even the risk and reward concept of investing might be appropriate.
Even parents struggling with their own financial behavior are not hypocrites when they try to teach financial principles to their children.
Habit formation is central to Sammy Rabbit’s messaging.
Recommendation to put 50% of income increases toward investing to accelerate financial freedom.

Links referred to in the episode, and how to connect with the guest, Sam X. Renick:

It’s a Habit Sammy Rabbit

SammyRabbit.com

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Episode #24

The Teen Girl’s Gotta-Have-It Guide to Money

Guest Name: Variny Yim

About the Guest: Director of Partner and Affiliate Relations with the JumpStart Coalition

Variny Yim helped to write The Teen Girl's Gotta-Have-It Guide to Money: "Getting Smart About Making It, Saving It, and Spending It!" In this podcast, she steps host, Todd Christensen, through the 5 TEENS tips for parents to help their teenage children learn about the everyday occurrences of financial issues in their lives. If you’re ready to make money discussions with your teen less stressful, less guilt-ridden, and more products, listen in on this episode.

How working in the field of finance led to learning more about money
How Variny got involved in helping to write about money and children
The Acronym WALLET tips for Teens
TEENS: Talk, Example, Educate, News, and Support
TALK: Take advantage of everyday opportunities to bring money-related issues to teen’s attention
EXAMPLE: Try to be a positive role model
EDUCATE: Don’t be afraid to keep learning about money and even sharing struggles and opportunities with your kids
NEWS: Encourage your children to access current events
SUPPORT: Help your child to build new skills or explore their passions

Links referred to in the episode, and how to connect with the guest, Variny Yim:

Variny Yim’s Home Page

Jump$tart Coalition for Personal Financial Literacy

The Teen Girl’s Gotta-Have-It Guide to Money

Jessica Blatt books

Jump$tart Clearinghouse

Gas Pipeline Hackers

Berenstain Bears’ Trouble with Money

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The Teen Girl's Gotta-Have-It Guide to Money: "Getting Smart About Making It, Saving It, and Spending It!"

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The Money Fit Show

Episode #23

Winning at the Money Game like a Basketball Phenom

Guest Name: Shawn Geegbae

About the Guest: Author/Founder of Winning at the Money Game, Shawn Geegbae, a former Wall Street commodities broker, loved the game of basketball growing up. As a student at Syracuse University, he began to write a book that connected the critically important skills in basketball to those required for financial stability and success.

During this episode, Shawn and Todd discuss ideas from Shawn’s book and how the game of basketball relates to the money game. Rather than trying to force confidence on players, successful basketball and money coaches know that confidence comes from developing strong skills over time. Shawn also shares tips and ideas for parents and friends that help to create an internal drive to succeed in the money game.

Episode Outline

Investing in what you love rather than just consuming it
The importance of habits in building confidence: “The chains of habits are too light to be felt until they’re too heavy to be removed.” – Warren Buffett
Importance of the reading habit
Family matched savings
Passing on financial literacy to your squad, as noted in Winning at the Money Game book, can start by seeking out knowledge yourself
Buying stocks that pay dividends

Links referred to in the episode, and how to connect with the guest, Shawn Geegbae:

Winning at the Money Game eBook

Winning At the Money Game

Hidden Brain Podcast: A Creature of Habit

Books by Warren Buffett

Books about Charlie Monger

Books by Peter Lynch

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Episode #22

Using ABLE Accounts to Create Self-Reliance

Guest Name: Idaho State Treasurer Julie Ellsworth

About the Guest: Treasurer for the Great State of Idaho

In this episode, Idaho State Treasurer Julie Ellsworth shares valuable information about ABLE accounts (Achieving a Better Life Experience Act of 2014). These accounts allow eligible persons with disabilities to save up to $100,000 to build self-reliance and assets without losing their related government benefits. Treasurer Ellsworth discusses how ABLE accounts can change the lives of millions of people with disabilities and their families in Idaho and across the country.

State treasurers can affect local property taxes through lower bond rates
ABLE accounts allow those with disabilities opportunities to save money above typical limitations
Age limits for ABLE accounts eligibility
State Independent Living Councils promote choice and self-determination for those with disabilities
The value of ABLE accounts to the state taxpayers
How families and others can help grow ABLE savings accounts
ABLE accounts function like a college savings 529 account, being codified under the same federal code
There are no tax benefits for contributing to another person’s ABLE account

Links referred to in the episode, and how to connect with the guest, Idaho State Treasurer, Julie Ellsworth:

Idaho State Treasurer’s Office

Treasurer’s Financial Freedom Resources

Idaho State Independent Living Council

IRS Information on ABLE Accounts

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Episode #21

Surviving the Identity Theft Harvest Season

Guest Name: Pam Hult

About the Guest: Senior Director with LegalShield

With the start of holiday shopping around Thanksgiving, the identity theft harvest season gets into full swing. Listen for how to minimize your risk and identify situations that compromise your personal information.

Defining the identity theft harvest season
How the COVID-19 Pandemic will make the 2021 identity theft harvest season worse
Using digital wallets, rather than entering your credit card information, can help to protect your identity when shopping online
Avoid using a public WiFi
The Planting Season (where the thieves source your information)
How identity thieves might use patience or test your card before using it for a large purchase

Links referred to in the episode, and how to connect with the guest, Pam Hult:

Pam Hult: PamHult@msn.com

LegalShield: https://pamhult.wearelegalshield.com

Privacy Rights list of data breaches: https://privacyrights.org/data-breaches

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Episode #020

Season 1

Having Money Talks with Your Teen

Guest Name: Dr. Melody Bell

About the Guest: Dr. Melody Bell is the Founder and CEO of Financial Beginnings, a national nonprofit that develops and delivers personal finance curricula for youth and adults. Melody passionately believes that sound financial decisions are a result of early education and has made it her life’s work to ensure financial education is more accessible and inclusive to all. In addition to leading the Financial Beginnings team, Melody also serves as an adjunct professor instructing online and hybrid personal finance classes at Portland State University.

Conversation Highlights

Sharing personal stories of credit card mistakes
Having money conversations with children
Allowance vs jobs vs a mix of both
Supporting teens in their entrepreneurial efforts and side hustles
Helping teens learn how to use the money they earn
Getting your teen a bank account
Financial topics to discuss with your teen (budgeting, credit, investing, insurance, identity theft protection)

Links referred to in the episode, and how to connect with the guest, Dr. Melody Bell:

Nextdoor.com for babysitting and dog walking opportunities

Equifax Credit Report Freeze

Experian Credit Report Freeze

Transunion Credit Report Freeze

Financial Beginnings

Money Fit Show Archives

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The Money Fit Show Episode #19 Season 1 Student Loan Advantages and Potential Dangers Guest: Janelle Culley with TRIO EOC

Taking out government student loans can offer a safer option than private student loans, but students still need to approach student loan debt carefully, borrowing only what they need. Even those who think they could use student loans as free money to invest while in school run a great risk of seeing their investments drop in the short term.

Financial hardships involving student loans typically result from over-borrowing, using the funds inappropriately, overestimating your post-college career income, or major changes to the industry in which you’ve chosen to pursue a degree. Do your research to determine realistic income expectations for your post-graduation life before taking out student loans.

Being thoughtful and mindful when taking out student loans
Fighting the notion that student loans are free money
Potential problems associated with overconfidence when taking out student loans
What happens to your student loans if you leave college early
Student loan deferment and going to school less than part-time
Estimating post-college cost of living vs. student loan payments

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Episode #018

Veterans Upward Bound – Free Resources and Services

Guest Name: Mario Pile

About the Guest: Project Director of Veterans Upward Bound at Boise State University.

A veteran himself of the US Air Force, Mario Pile serves veterans of all military branches, providing them with guidance and resources to prepare for higher education, start a business, find an apprenticeship, or otherwise turn the discipline they developed into the military into a lifelong asset in civilian life.

VUB helps prepare veterans for post-high school education and training
Skills veterans learned in the military and using to start and run a business
Collaborations and internships through VUB
Understanding the various GI bills veterans can access
Transitioning from military life to civilian life
Using military discipline throughout civilian life

Links referred to in the episode, and how to connect with the guest, Mario Pile:

Veterans Upward Bound at Boise State University

Mario Pile: MarioPile@BoiseState.edu, (208) 426-3230

More about Veterans Upward Bound at the US Department of Education

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Episode #017

Raise Your Voice for Financial Education

Guest Name: Barbara Scully

About the Guest: FCS Teacher and Podcaster with Connect FCS Ed

If you’ve ever wondered what happened to Home Economics, listen to this discussion with Barbara Scully. After a name change in 1996 from Home Ec to Family and Consumer Sciences, life skills in personal finance, nutrition, child development, textiles, among others, continue to reach students in FCS classrooms and crossover into many other disciplines.

What are the family and consumer sciences
Availability of FCS at different districts
Talking to your local school about including FCS
Personal story of how FCS courses lead to careers
FCS Resources

Links referred to in the episode, and how to connect with the guest, Barbara Scully:

Connect FSC Ed Podcast

American Association of Family and Consumer Sciences (AAFCS)

Lead FCS Ed

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Episode #016

The History of Home Economics and the Future of Family and Consumer Sciences

Guest Name: Theresa Golis

About the Guest: Program Quality Manager with Idaho Career and Technical Education

The origins of Home Economics involved much more than household cooking. Home Ec (now the Family and Consumer Sciences or FCS) has long concerned itself with big-picture issues like community health, nutrition research, and the economic impacts of household and consumer choices.

“The best teacher is the one who has the student leave the classroom and doesn’t need them anymore.”

History of Home Economics
Name change to Family and Consumer Science was more than just a rebranding
Learning life literacy skills in FCS
Recommending an FCS class
The hands-on, practical nature of FCS classes

Links referred to in the episode, and how to connect with the guest, Theresa Golis:

Links to Your State Department of Education

Idaho Career and Technical Education

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The Money Fit Show

Episode #015

Getting Comfortable with Uncomfortable Financial Conversations

Guest Name: Dana Oster

About the Guest: Dana Oster, Financial Wellness Program Coordinator at Boise State University

Money management conversations between young adults and their parents feel uncomfortable because it’s generally a new topic. The more often parents and their young adult children talk about finances, the more comfortable they can become with the subject.

Talking about money can be like trying on a new pair of jeans
Why conversations are uncomfortable for young adults and their parents.
Schedule money conversations regularly rather than hiding from money discussions
How to approach the topic for the first time. The “What If…” questions.
The value of asking multiple, reliable sources for advice
Making money a natural topic of daily conversations

Links referred to in the episode, and how to connect with the guest, Dana Oster, from Boise State University’s Financial Wellness Program:

Boise State Financial Wellness Program

Dana Oster: DanaOster@BoiseState.edu

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The Money Fit Show

Episode #014

First-time Homebuying in a Hot Housing Market

Guest Name: Luke Erickson

Regardless of the housing market location or even performance, buying a home should also involve basic rules like debt-to-income ratios, an affordable monthly payment, and interest rates. No more than approximately 36% of your income should go toward your monthly housing costs.

In hot markets, though, financing options and the actual homebuying processes can change when making offers and negotiations.

When financial institutions aggressively market to potential homeowners in a hot market, approving applicants not traditionally considered financially unprepared for homeownership, we run the risk of reliving what happened in advance of the Great Recession of 2007 and 2008.

Dr. Erickson discusses the meaning of the term being “house poor” and the problems associated with getting into a home that’s too large for your budget. He then brings up a number of options for approaching homebuying if you live in the high-priced market.

Homeownership Rules of Thumb for qualifying for a loan
Suggested percentage of income that should go to housing
The problem with hot housing markets for first-time homebuyers
How trends in interest rates may change in relation to the health of the overall economy
Painful Consequences when rules of thumb are broken
Options for new homebuyers in areas of skyrocketing home prices
Comparing home prices and cost of living when opportunities arise around the country

Links referred to in the episode, and how to connect with our guest, Dr. Luke Erickson:

Cost of Living Comparison Tool from Money Fit by DRS

Cost of Living Comparison Tool from BestPlaces.net

Northwest Youth Financial Education

Luke Erickson, University of Idaho Extension

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The Money Fit Show

Episode #013

Secure Choice Employer-based Retirement Savings Options

Guest: David Bell with Oregon’s State Treasurer’s Office

National and state-level offices have recognized the reality of a retirement crisis among older American workers.

Secure Choice employer-based programs involve the state offering a savings program for any employee who works for an employer who does not offer a retirement savings plan. A few states, like Oregon (2017), have begun to implement such programs. Oregon even mandates it for employers who do not offer another retirement plan option. Employers facilitate but do not have to pay for these IRA plans. Oregon’s plan is an opt-out program for the employees.

Oregon Saves accounts are starting to see an increase in retirement contributions by employees. These are Roth Individual Retirement Accounts (IRAs).

Many states are beginning to consider these types of programs, even if each state may vary how they set them up. Oregon even offers this program to one-member LLCs.

The poor state of retirement preparation among older American workers
15 times greater likelihood of saving for retirement with employer-based programs
Auto-enrollment/Opt-out offered on savings
Flexibility of the Roth IRA
Inclusion of safety net built into the program

Connect with the guest, David Bell with Oregon’s State Treasurer’s Office:

Secure Choice on Google
OregonSaves.com
Oregon State Treasury – Financial Empowerment

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The Money Fit Show

Episode #012

Red Flags: Spotting Scams and Fraud to Prevent Becoming a Victim

Guest: Rebecca Barr

About Rebecca: Rebecca serves as the PR and Communications Manager with the Better Business Bureau of Great West + Pacific. The “BBB helps people find and recommend businesses, brands, and charities they can trust.”

Scammers try to connect to credibility tools (e.g. sheriff’s badge number) to create legitimacy. Always check the validity of the claim by hanging up and then calling the agency or organization directly.

Scammers are either looking for your personal information (social security, medical information, insurance, etc.) or your financial information (credit card information, or bank account information).

Recognizing Red Flags
Scammers prey on our emotions (fear or excitement)
High pressure and threats of punishment or legal actions
Grandparent scams
Pay debt or face arrest
Jury duty scam
BE SKEPTICAL and don’t act quickly when facing a potential scam.

Connect with the guest, Rebecca Barr of the BBB:

Better Business Bureau of Great West + Pacific
Trust BBB

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The Money Fit Show

Episode #011

Raising Financial Freedom: Keeping the End in Mind when Teaching Children about Money

Guest Name: Eric Yard

About the Guest: Founder and Host of the Raising Financial Freedom, a podcast for parents who want their children to grow up financially smart or free

Eric Yard started his podcast to offer parents the support and guidance for helping their children to grow up to become financially free. He and Money Fit Show host Todd Christensen discuss the powerful potential parents possess to create a legacy of financial freedom for future generations.

Starting early to teach financial freedom
Building a legacy for your family name
Overcoming the tendency to avoid talking about money
Learning about money together with your child
Play money-based games with your child
Show your child how to make a purchase and how to make a bank deposit
How to answer the dreaded question, “Mom/Dad, how much money do you make?”
The need for more financial education in schools

Links referred to in the episode, and how to connect with the guest, Eric Yard:

Raising Financial Freedom Podcast
Eric Yard: Info@RaisingFinancialFreedom.com

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The Money Fit Show

Episode #010

Trends in Employer-based Retirement Accounts

Guest Name: Julie Ellsworth

About the Guest: Treasurer for the Great State of Idaho

Treasurer Ellsworth shares insights into recent discussions and future possibilities around the development of opportunities for states to support the private sector in offering individual retirement plans at work, even at very small businesses.

The role of the State Treasury as a sort of accounts receivable for the state
National discussion of burdening of government safety net due to lack of retirement preparation
Making access to IRAs and Roth IRAs easier for employees of small businesses
Retirement plan options and how to get the people to the products
Balancing the need for employees to save with the business owner’s resources
Removing barriers between the employee and the private industry investing opportunities
National trends in employer-based retirement programs

Links referred to in the episode, and how to connect with the guest, Treasurer Julie Ellsworth:

https://sto.idaho.gov: Idaho State Treasurer’s Office

https://sto.idaho.gov/Other-Services/Financial-Freedom: Financial Freedom resources through the Treasurer’s Office

https://sto.idaho.gov/Other-Services/The-Vault: The Idaho Treasurer’s Vault

https://edd.ca.gov/employers/calsavers.htm (CalSavers Retirement Savings Program)

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The Money Fit Show

Episode #009

ID Trafficking: Identify Theft Far beyond Credit Reports

Guest: Pam Hult of LegalShield

Identify theft goes far beyond the use of your credit card without your permission. In fact, using the information from your credit report fraudulently is just one area of ID theft that can make your life extremely uncomfortable and even miserable.

Beyond credit cards, identity thieves will use your personal information to commit crimes, receive major medical services, provide information to police during a DUI stop, purchase a firearm, and much more.

What most people misunderstand about identity theft
Identity theft black markets and cartels
The expansion of identity theft
Countering identity apathy: “If they want my ID, they can have it…”
Consequences of various forms of identity theft

Connect with the guest, Pam Hult of LegalShield:

Legal Shield

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The Money Fit Show

Episode #008

Always Be Learning: Teaching Young Children about Money with Words and Activities

Guest: Sam X. Renick, Author, Financial Educator, Entrepreneur

Author and driving force behind the Sammy Rabbit learning products for children, Sam X. Renick shares his ideas about the main financial topics to start teaching young kids, some of the media to use, and even how to talk to your children about money.

Children may not be able to repeat what you teach about money or even remember your lessons, but you need to consider your money conversations and activities like seeds you’re planting.

Topics of saving, budgeting, planning
Types of media to use
Teaching money like you’re planting seeds
How frequently to teach children about money
Lessons to teach while shopping
Give wisely
Parents who feel unqualified to teach about money
Financial basics to master as a parent

Connect with the guest, Sam X. Renick:

sammyrabbit.com: Sammy Rabbit

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The Money Fit Show

Episode #007

Money Here and Money There, Teaching Money EverywhereGuest: Dr. Melody Bell, Founder and CEO of Financial Beginnings

How early is too early to teach financial literacy to children? Based on the discussion with Dr. Melody Bell, it’s hard to start too early. From teaching by example and demonstrating healthy money management behaviors to using tips and tricks to encouraging smart and responsible financial habits with young children and teens, listen in as host Todd Christensen and Financial Beginning’s founder Dr. Melody Bell address different approaches and venues for helping children learn about money.

Approaches to when and how to start talking to young children about money 2. Spending parent’s money versus spending their own money 3. Starting early and starting fun and how to bring in family money activities 4. The challenges of teaching with digital money rather than cash 5. Ideas for encouraging savings and savvy shopping 6. State educational standards and classes in the classroom and schools 7. Opening bank accounts for young children

Links mentioned in the show:

Financial Beginnings (Dr. Melody Bell)

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The Money Fit Show

Episode #006

Dedication to the Game: The Shared Fundamentals of Basketball and Finance

Guest: Shawn Geegbae, Author/Founder of Winning at the Money Game

Shawn Geegbae, a former Wall Street commodities broker, loved the game of basketball growing up. As a student at Syracuse University, he began to write a book that connected the critically important skills in basketball to those required for financial stability and success.

To become a better free-throw shooter, for example, it takes consistent practice of form and repetition. It’s simple, but not easy. Ease comes with practice. Similarly, saving money is a simple concept that gets easier with practice and repetition.

Shawn’s path to writing his book, Winning at the Money Game2. Connecting basketball to money management
Examples of basketball fundaments that feel like the fundamentals of personal finance
The importance of credit scores in the money game

Connect with the guest, Shawn Geegbae:

watmgnow.com: Winning at the Money Game
watmgnow.com/free: Free Winning at the Money Game eBook

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The Money Fit Show Episode #005

Prosperity and Financial Education for All Guest: Variny Yim

The JumpStart Coalition works to promote financial education across the country and within all communities through communication, collaboration, and commitment. With the support of large and small partners, JumpStart has created financial education standards adopted by many state departments of education.

Many financial educators must still learn to adapt their language and expectations to all populations, getting out of the mode of seeing investing and other financial topics as black and white.

Jump$tart’s 3 Pillars of Promoting Financial Literacy
The National Educators Conference
Jump$tart and Financial Inclusion of Underserved and At-risk Communities
Sensitivity of Financial Education to Local Needs
Misconceptions of Financial Education

Connect with the guest, Variny

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The Money Fit Show

Episode #004

The Most Important Financial Conversations for College Students

Guest: Janelle Culley of TRIO EOC This week, host, Todd Christensen, speaks with TRIO Educational Opportunity Center program manager, Janelle Culley about the important financial conversations she has with traditional and non-traditional college students. From budgeting and FAFSA to what the student is committing to when they take out a student loan, these topics cover questions with long-lasting implications.

Janelle shares her top tips and recommendations for students to consider when starting or returning to college. Post-secondary education isn’t cheap, so many people turn directly to student loans to finance their degree or certification. However, you shouldn’t forget work-study, Pell grants, and scholarships to defray the costs. 1. Various funding resources to help finance education 2. Importance of FAFSA Application 3. Creating a student budget 4. Subsidized versus unsubsidized student loans 5. Tools for projecting post-education expenses and income

Connect with the guest, Janelle Culley:

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The Money Fit Show

Episode 3

Scams and the Optimism Bias

Guest: Dale Dixon of the BBB

In this final of three episodes with BBB Chief Innovations Officer and special guest Dale Dixon, we explore the role of Optimism Bias that leads too many people to become victims of scammers because of their overconfidence in their ability to combat the scammer’s psychology-based approaches.

Dale has identified the four, science-based human biases that make us so susceptible to phone and online scams, where trained and tech-savvy scammers use serious psychology theory and techniques to move from a lucky phone call to a committed victim.

Recap of first three human biases: Sunk cost theory, Motivated cognition, and Selective perception
Fourth human bias: Optimism bias
Role of education in optimism bias
The power of habits versus awareness
Examples and stories of scams and steps to protect yourself

Connect with the guest, Dale Dixon:

Dale Dixon on LinkedIn

Better Business Bureau Great West + Pacific

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The Money Fit Show

Episode 2

Fooling Yourself into Scams… Literally through Motivated Cognition

Guest: Dale Dixon with the BBB

In this second of three episodes with BBB Chief Innovations Officer and special guest Dale Dixon, we explore the role of Motivated Cognition and Selective Perception in blinding so many people to the dangers of scammers.

Those who believe they can outsmart scammers or string them along too often and too soon find themselves victims of these highly trained, highly technical, and well-practiced professionals.

The “What If” Peril of Motivated Cognition
Education Levels Have Nothing to Do with Being Scammed
The Ivy League Football Study that Explains Motivated Cognition
Scammers Rely on Probabilities, but Not Coincidence
Selective Perception and Ignoring Reality
Build a Habit of Research BEFORE the Scammer Calls
BBB’s Scam TrackerSM: https://www.bbb.org/scamtracker

Connect with the guest, Dale Dixon:

Dale Dixon on LinkedIn

Better Business Bureau Great West + Pacific

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The Money Fit Show

Episode 1

Scams and the Role of Sunk Cost Theory

Guest: Dale Dixon of the BBB

In this episode, guest and BBB Chief Innovations Officer Dale Dixon explains the psychology-based process scammers use to ensnare even the most educated consumers. Scam victims come from all walks of socio-economic and educational backgrounds. Dale kicks off the inaugural Money Fit Show by discussing the human biases that blind so many people to scams.

The Sunk Cost Theory plays an initial, pivotal role in getting consumers to stick with schemes that look like such blatant scams. Why do scammers always start with a $20 hook, then $200, then $2,000?

Who Falls for Scams
The Human Firmware Glitches
How Scammers Use the Sunk Cost Theory against Us
How Low or High Tech Scammers Are
Why Scammers Start by Asking for $20
Sunk Cost Theory and Concert Tickets
How Lottery Ticket Costs Relate to Sunk Cost Theory
Sunk Cost Bias Leads to and Happens at the Same Time as Motivated Cognition
Host Recommendation: Don’t Answer Calls from Numbers You Don’t Recognize

Connect with the guest, Dale Dixon:

Dale Dixon on LinkedIn

Better Business Bureau Great West + Pacific

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The Money Fit Show
Episode 0
5 Ways the Money Fit Show Is Unique

In this episode, show host Todd Christensen introduces the listener to the purpose and formatting of the upcoming episodes. He also answers a randomly chosen question from the Money Fit Show's bank of questions for guests, explaining why he would have found it laughable as a young adult to learn he would become a personal finance author and expert.

Who Produces the Money Fit Show
The Questions We Use to Start Each Episode
The Host's Sketchy Financial Background Gives Perspective
The Show's Purpose to Offer Practical Advice and Recommendations
The Brief Format of the Show at around 15 Minutes
The First Recommendation: The Money Pie Budget

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The Money Fit Show: Recent Episodes

Todd Christensen