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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!
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Now displaying: April, 2017
Apr 25, 2017

Time to re-up and recycle the flow. What does that even mean? Well, this week we re-visit our fastest downloaded podcast ever, PB47: Barely Making It on $500K! As an added bonus, we feature half-man, half-legend and guest, the Financial Samurai himself! Financial Samurai (Sam Dogen) got his MBA from Cal and spent over 10 years working in the finance industry. After 13 years of working in Corporate America and living the "American Dream," money ceased to be a major driving factor. Instead, Sam wanted to live absolutely financially free. He fantasized about what it would be like to write, spend time with family, and travel, with little financial worries. Three years after starting FinancialSamurai.com in 2009? Mission Accomplished! Sam helped us cover a wide range of topics on this entertaining show, so when you play the new PB all the listeners go crazy! This week's show covers:

  • Sam share the story when he finally realized what's really important in life and why he walked away from the "American Dream" and a six-figure income to pursue his own dreams, and ultimately, find true happiness
  • The thorough planning steps and sacrifices Sam made includring a combination of savings, smart investing, and passive income that allowed him to leave the rat race and begin working for himself full-time
    • "If your saving (plan) isn't painful, you're not saving enough" - Sam
  • Lessons learned and wisdom gained from the $500,000 viral article read around the internet
  • It was all good about a week ago, until we decided to wrap up the show with a discussion on "The New Rule for Engagement Ring Buying"

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Special thanks to our sponsor, FreshBooks. To get a free 30-day trial of their super-easy-to-use cloud accounting software, visit freshbooks.com/paychecks and enter “paychecks and balances” in the How Did You Hear About Us section.

References

Announcements

April is Financial Literacy Month! To celebrate and get your personal finances in order, check out Marcus' interviews with NerdWallet:

New Posts Alert! Rich and Marcus tackled a personal finance topic and listener question this month. Check them out!

Check out Rich's roundtable feature with Stacking Benjamins!

Apr 18, 2017

We're back this week discussing all things paychecks and office with esteemed guest Tiffany Southerland. Tiff is a Career Coach, purveyor of empowerment, speaker, 3-time Degree champion, lawyer and the host of the How Does She Do It podcast. We had a great time discussing the importance of mentors, career development and navigation, why Tiff has like 50-11 degrees, and we even had time for a juicy listener question about office relationships. This week's topics include:

  • The difference between corporate and academic America and how to succeed in both
  • How mentorship helped empower Tiff to be successful in her personal and career growth
  • A listener question on how to best navigate the personal relationships we face inside and outside of work

References:

Announcements:

We’re on Soundcloud!

Check out our PATREON page! We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.

Marcus’ book on how he buried and then dug his way out of over $30,000 in debt, Debt Free Or Die Trying, is available on Amazon. Check it out!

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 and Instagram at the same name!

Apr 8, 2017

We get back to basics on this week's Money Minute with simple tips you can use to create a budget you'll actually stick to. Yes, we here at PB already admitted that budgeting sucks, but is it a necessary evil we just have to follow? Some would argue no, "...here's the thing about budgeting: It's not fun. At all. And for that reason, it often ends up just being a waste of time..." - David Bach, self-made millionaire. On our This Week in Work segment Rich covers the Managing for Dummies struggle and how even experienced professionals can fall victim to "the backdoor reference". This week's topics include:

  • Why maintaining a budget may or may not work for you when you're not already a millionaire like Mr. Bach
  • Marcus shares lessons learned from a Christmas story from his teens that continues to shape his perspective on budgeting in his adult life
  • Rich reminds us that today's coworkers can be tomorrow's personal character or professional reference
    • The Backdoor Reference: When someone has a contact in their network that knows the person under consideration and they reach out to them unofficially to get the scoop, the grapevine, The Real, or even just the juice.
Apr 4, 2017

The rent is too damn high! But, what happens when the mortgage is too high, also? Among many other quarter-to-midlife items on the must have crisis checklist, the "you need to buy a home" struggle is real. Whether we like it or not, many of us still see homeownership as the final ornament on top of the Christmas tree of life that officially marks when we've graduated to adulthood and the "American Dream." But, have you ever thought about who sold us this dream? Is homeownership an expense or an investment? What happens when you don't own, you prefer to rent, or you have no interest in ever owning a home? The answers are complicated.

Luckily, we have Kirk Chisholm on this week's show to help us navigate the complex data and analyze the true pros/cons of renting versus owning. Kirk is a Principal and Wealth Manager at Innovative Advisory Group, an independent RIA (Registered Investment Advisor) located in Lexington, MA. He has been providing financial advice to individuals and families since 1999. "If you rent a home, it is an expense. When you buy a home, it is an expense. If you buy a home and rent it out to a third party, it becomes an investment." In addition, this week we discuss:

  • What information you should review before deciding to rent or buy.
  • The true cost of homeownership and why a 20% downpayment on a home will not return the best investment on your funds compared to other investment options.
  • Why what you don't know about renting versus buying can cost you thousands of dollars.
  • A listener voicemail on recommendations for easy-to-use index funds for young and first-time investors.
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