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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: June, 2017
Jun 27, 2017

This week we're joined by Damon Young of VSB for the first of a 2-part discussion. Damon is the editor-in-chief and co-founder of the black culture cornerstone, VerySmartBrothas.com. He has had his work featured on places like Slate, The Root, Ebony, Essence, HuffPost and everywhere the cool kids hang out on the e-corner. Last but not least, he's working on a book of essays to be published by Ecco (HarperCollins). He lives in Pittsburgh, really likes pancakes, and Damon is a busy man, so we're happy he took the time out to speak with us and the questions that have plagued the internet for years, like: why do men love Dodge Chargers (and her cousin, The Dodge Challenger)??? On part 1 of our entertaining discussion with Mr. Young we cover:

  • How Damon went from rag to riches covering the journey from bad plagiarist poet to great authentic writer after finding his own voice, "I can swim now, but only because someone pushed me in the pool." - Mr. Young
  • He breaks down one of the hardest lessons he learned in his writing career, how it shaped him then and now, and why "STFU is free."
  • The impact money, or the lack thereof, had on his personal life and professional decisions, "I didn't have enough money to afford free sh*t."
  • Why making good money is nice but having more money than your neighbors is what really drives people.

On Part-2, we'll discuss how money changes your outlook and how people view you, Damon's view on the True Cost of Parenting, and much more. Stay tuned and tune in!

References

Announcements

Check out RockStar Finance’s Directory of Personal Finance Blogs (and Resources) from @BudgetsAreSexy. This is a great resource for all things personal finance. You can show support to us and these other awesome personal finance blogs by clicking here.

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.

Read Marcus’ book on how he buried and dug his way out of over $30,000 in debt by age 30, Debt Free Or Die Trying, on Amazon.

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!

Jun 19, 2017

The Money Minute

  • A @PayBalances listener asks, "how would you change your budget if you had children?"
  • We found that as of 2017, it costs up to $233,610 to raise a child from ages 0 to 17!
  • We discuss how we would proactively adjust our personal finances when a little (HYPOTHETICAL!) bundle of joy is on the way:
    • Start the 9-month clock and begin adjusting and testing our new family budget before the arrival of the baby.
    • Review our insurance plans to make sure we have enough to care for everyone, not just ourselves.
    • Why we would immediately start planning and saving for our child's college fund.

This Week In Work

  • How to improve your online job searches and recruiter contacts on LinkedIn using Boolean search strings.
  • Rich provides a step-by-step breakdown of how to use search strings to tailor your job search and improve your online job profile.
  • We discuss how to network and navigate LinkedIn when a recruiter or company of interest visits your personal profile.

References

Jun 12, 2017

A new Money Minute inspired listener question and our drive to get our and your money right so we can stunt -- responsibly and within our budgets, of course -- on the haters! A This Week in Work update finds Rich delving even further into the seedy underworld of the professional dark side, also known as Middle Management.

Money Minute

  • After our How Much You Need to Save Each Month to Retire With $1,000,000 blog equally excites and depresses folks on both the wrong and right side of 30, a listener on Twitter laments: Who at age 23 has $415 of excess money?!? Well, we're glad you asked because we have the answer for how you can make more, save more, or both.
  • How the Average American Spends Their Paycheck and one easy change you can make this week that can save you hundreds as early as next month.
  • Tips for finding your personal financial motivation and defining your why informed our thoughts on the new Census report on US median household net worth: White: $132k Asian: $112k Hispanic: $13k Black: $9k
  • Let's learn to Research Refinancing Your Car 101

This Week In Work

  • If you want to go hungry, just promote to Management???
  • Those unspoken job roles and responsibilities that come with promotions that no one tells you about.
  • Life Hacks and Pro Tips for 'Keeping It Real' at work so you can go viral on Friday without being fired by Monday.

References

Announcements

New blog post: How Much Home, Car, and Debt You Can Afford on a 30, 50, and $100,000 Salary

Jun 6, 2017

This week we tackle another listener question from our ASKPB queue:

Hey guys! The question I have is if I should stay in a job that I don't like until I pay off all my debt. I'm in my late 20's, and I'll make 70k this year and I have 28k in credit card debt. The credit cards have been cut, dipped in lighter fluid, and thrown into a fire pit. I've been using only cash and started budgeting.

The job that I currently work at pays well, but I don't enjoy the work or people. I've been with this company for a couple years, and only stayed with them because I was told there would be future opportunities in my field. As of right now, I don't see that happening in the near future, and feel the longer I stay, the further away I'll get from doing the work I actually want to do. I don't know if I should go ahead and leave or stay until I'm debt free. Another thing is that my job provides housing and transportation, additional cost that I would have if I switch jobs.

Either way I'm going to leave, just don't know if I should leave sooner rather than later.

Any advice would be great. Thanks!

On the second half of the show, we're joined by Matt Schulz from CreditCards.com. CreditCards.com partners with banks and issuers to provide consumers a resource to search and apply for credit card offers displayed side by side so you can easily compare key factors such as interest rates and annual fees. Matt is a financial literacy advocate and credit card subject matter expert with a passion for helping people make smart decisions about their money. He has appeared on the CBS Evening News, the Today Show, CNBC-TV and in articles for the Wall Street Journal, New York Times, and The Washington Post. We discussed how Millennials can research and responsibly use credit cards, the pros and cons of 0% balance transfers for debt management, how to repair or build positive credit history, and much more!

Sponsor

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

Matt Schulz

Announcements

New blog post: When should I use a 401k loan to pay my bills and debt?

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