Info

Paychecks & Balances | Personal Finance & Career Advice for Millennials

Looking for a down-to-earth approach to personal finance and career advice? This funformative podcast will help you get it together financially and professionally without boring you to sleep. Join Rich & Marcus for upbeat discussions on work and money with a millennial spin. New episodes out every Tuesday. Got personal finance or career advice questions/topics you'd like us to cover? Email us at info@paychecksandbalances.com!
RSS Feed Subscribe in iTunes
Paychecks & Balances | Personal Finance & Career Advice for Millennials
2017
September
August
July
June
May
April
March
February
January


2016
December
November
October
September
August
July
June
May
April
March


All Episodes
Archives
Now displaying: August, 2016
Aug 31, 2016
We received two great debt-related questions this week. A listener recommends the "snowball" treatment, and another listener ask please help "fix my debt." We're always happy to answer the questions, you ask and we research! Excuse the link-overload, but it's important we provide you with all the tools you need. Check out this week's show if you have a question about the first steps to managing your debt or email us your specific career and debt management questions if you want us to consider answering on a live show! Listener Recommends: Wassup fellas, long time listener, love the show. You guys always talk about paying off debt and that's motivated me to tackle my credit card debt. I was on my company's benefits site and under financial resources they had a credit card debt payoff calculator. And basically this calculator tells you to put in your credit card balances and the interest rate and also how much extra you want to put towards paying off your debt each month. It then calculates how long it will take you to pay off the debt with the extra money versus if you just pay the minimum payments (which they assume is 3% of the balance). They then create a payment plan using the avalanche method of tackling the highest interest rate cards first and show you how much to pay on each card for how many months (you always pay at least the minimum) and then once you get a card paid off you put that payment to another card. So for example, if you're paying $300 in CC payments each month and you want to pay another $50 they allocate that $350 across the cards until all the debt is paid off. Does this make sense? Listener QA: So I want to get out of credit card debt by my 26th birthday next year in May. I have 11,464.51 at 18% APR and 1,848.43 at 0% till October after that it's 17% APR. After taxes I take home $3200. I'm just not sure where to start. Any suggestions are greatly appreciated. Helpful links and sources for this week's QA responses: We cover how to make a budget in less than 15 minutes on Paychecks and Balances episode, Where'd My Money Go? If you want to automate your budget, Rich and Marcus discuss the apps we use as well as a budget app a listener recommends on QA 8. Need a FREE Debt Payment Calculator? We've recommend three you can choose from: BankRate Credit Only All Debt Management Calculators SimpleDollar NerdWallet Editor's Note: Registration required. Chase Bank Presents: The Big Difference 10 Little Dollars Can Make Announcements: We made a guest appearance on the award-winning Stacking Benjamin podcast. Be sure to give it a listen in iTunes or on their website, From Drowning to Debt Free. We’re happy to announce that we’ve been featured on iTunes and have been as high as #19 in the Business category! Be sure to check it out. You can also helps us reach an even larger audience by leaving us a five star review. Thank you all for the continued love and support!! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances! Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.
Aug 25, 2016
All cost of living aint equal. Don't we know it! This week a listener runs into a familiar problem: It's a great job opportunity, but it's not located in my current city of residence. How do I adjust for the cost of living changes? Well, there isn't an exact science to this question, but we discuss how the use of three reliable cost of living calculators (CNNMoney, Salary.com, BankRate) can help our listener determine the best estimate for their estimated cost of living adjustment. Tune in to hear: is a 30% pay increase ever too much? Have a career or debt management question of your own? Contact Us! I currently live in a part of the country where the cost of living is pretty moderate. I'm talking with an employer in CA about a job out there. I know the hiring manager personally, and he/she is great. The job itself is also a great opportunity. The problem is, considering the 10% pay increase I'll be getting at my current job for 2017 and the increase in housing costs alone i'd see while moving from here to CA, I'd need a 25% increase in comp, just to break even. So I would probably want to ask for a 30% increase , with the intent of accepting at 25% if they push back. I think the reasoning above makes sense, but is it reasonable to request a 30% (or even 25%) increase at the new company? I don't want to start salary negotiations off on the wrong foot by going in there with a number that will turn off the employer. Announcements: We made a guest appearance on the award-winning Stacking Benjamin podcast. Be sure to give it a listen in iTunes or on their website, From Drowning to Debt Free. We’re happy to announce that we’ve been featured on iTunes and have been as high as #19 in the Business category! Be sure to check it out. You can also helps us reach an even larger audience by leaving us a five star review. Thank you all for the continued love and support!! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances! Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.
Aug 23, 2016
THE REVOLUTION WILL NOT BE TELEVISED! WIM was finally released from protective custody this week, and in a double secret probation reveal, he is un-trapped from the closet as he discusses both the title of his new book (now available in eBook for Amazon Kindle) and his government name, and that's just the first five minutes of this week's show! On topics you actually care about, this week's Money Minute covers a few easy changes you can make to save over $4,500 a year. For example, did you know if you pay over $200 for cable, you're paying more than $2,400 a year and you spent over $12,000 in the last five years? Damn Daniel, back at it again with the cable vans? And that's just one bill we discuss. Imagine how much money you could save if you focused on cutting back in the top 3 most expensive bills for the Average American Family? That's why this week's show focuses on where the average person is spending their money and how you can make some simple (and temporary) cutbacks to save thousands over the next 12 months. After all, $287,000 is the new $100,000. It might be time for you to consider some "lifestyle deflation". But, it's not all bad news! Our Main Segment talks about why Millennials do it better (than Baby Boomers, anyway)! Announcements: We’re happy to announce that we’ve been featured on iTunes in the ‘Black Voices in Business’ podcasts. Be sure to check it out. You can also helps us reach an even larger audience by leaving us a five star review. Thank you all for the continued love and support! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances! Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.
Aug 18, 2016
It's the question you hate to ask but may inevitably face: When Should I Leave My Job? This week, a listener wonder just that when a promising opportunity arises even though they weren't even looking to leave their current job. I've currently been with my employer for 2 years, and I'm really content with where I am currently at my employer. Recently I've been contacted by a recruiter. We discussed some information, and I basically told him I'm happy where I am but if the ideal position opened up I'd be willing to take it. Well, he got me 2 interviews this coming week. I'm hesitant at taking them because I'm not really actively looking for a job change. Just wanted to put the feelers out there to see if I gauge any interest. See what's new in the industry and what not. So my question to you is how do you know when it's time to move on from a company? Announcements: We’re happy to announce that we’ve been featured on iTunes in the ‘Black Voices in Business’ podcasts. Be sure to check it out. You can also helps us reach an even larger audience by leaving us a five star review. Thank you all for the continued love and support! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances! Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.
Aug 16, 2016
Optimist, Skeptics, and Cynics: which one are you? Fancy yourself a "Realist"? We discuss the three types and why it's ok to occupy two of these groups, but not the third. This week's motivational quote? “People who say it cannot be done should not interrupt those who are doing it." - George Bernard Shaw. In this week's Main Topic, we discuss five top ways to make yourself indispensable at work using Inc's 12 Simple Steps. Tips include but are not limited to: why your word is your bond; establishing yourself as someone people are comfortable and want to reach out to; staying positive; and how you can learn more later by being more now. Announcements: We’re happy to announce that we’ve been featured on iTunes in the ‘Black Voices in Business’ podcasts. Be sure to check it out. You can also helps us reach an even larger audience by leaving us a five star review. Thank you all for the continued love and support! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances! Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.
Aug 9, 2016
CASH ONLY! Are you living a cash only lifestyle? With help from MoneyQandA.com we discuss the pros and cons of leaving credit behind for the almighty dollar, dollar bill, yall. It's not easy, but it can be done. But, is the cash only life for you? We talk about the benefits of using cash over credit and how "the envelop system" might help you jump start your journey towards debt freedom. Later in this episode, Rich discusses how dividing his money in separate bank accounts for life's many expenses has actually helped him better manage his many money management goals. Announcements: We’re happy to announce that we’ve been featured on iTunes in the ‘Black Voices in Business’ podcasts. Be sure to check it out. You can also helps us reach an even larger audience by leaving us a five star review. Thank you all for the continued love and support! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances! Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.
Aug 2, 2016
On this week's Paychecks And Balances 'Money Minute' we discover some easy ways to find money that's literally laying around your house. The average American has $100 in unused gift cards. Are you one of them? Pretty sure you've spent all your gift cards? Ok. What about unused credit card points? Each year, we lose out on over $150+ million in unused credit card points. Redeem Yourself! Um, yeah, that will make more sense if you listen to the show. In this week's In the Trenches segment, we talk "The Point of Disappointment" and why you should fail hard, fail fast, then move on and learn from your mistakes. Don't let disappointment be your stopping point, it's just another point in the road to success. Learn. Apply. Repeat. Improve. Move on! Your road to success it out there. You just have to find out and we'll show you how. Announcements: We're happy to announce that we're featured on iTunes this week in the 'Black Voices in Business' podcasts. Be sure to check it out. You can also helps us reach an even larger audience by leaving us a five star review. Thank you all for the continued love and support! Looking for more career development and debt freedom tips? Join our email list at PaychecksandBalances.com/email for exclusive content including show updates, digital giveaways, and more. We don’t spam. We just keeps it real. Yes, keeps. LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances! Have an anonymous question? Drop a question at ask.fm/PayBalances. Our only request: Please be respectful.
1