56: Change Your Personal Finances (& Your Millennial Money Mindset) with Paychecks & Balances

BiggerPockets Money Podcast

BiggerPockets

Education, Investing, Business

4.5 • 3K Ratings

🗓️ 21 January 2019

⏱️ 73 minutes

🔗️ Recording | iTunes | RSS

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Summary

Rich Jones and Marcus Garrett are the men behind Paychecks and Balances, a podcast aimed at helping Millennials figure out their finances. And they should know a little on the subject—both Rich and Marcus made some pretty epic money mistakes in their youth. From Rich just not looking at his bills to Marcus actively going into almost $30K of debt in 72 hours (NOT a typo!), they know what owing money to someone feels like. Marcus details his D.E.B.T. plan so you can pick yourself up, dust yourself off, and pay off your debt for good. Are you looking to be debt-free in 2019? This episode can help you formulate a plan that works for your specific situation, with tips for staying out of debt once you arrive. In This Episode We Cover: Marcus and Rich's money journey How Marcus spent $26K in just one weekend How Rich optimized his budget around things he wants versus the things he needs The concept of the debt snowball Rich's hybrid approach to tackling his debt The purpose of an emergency fund Advice for being financially responsible The importance of focusing on priorities first Their advice for people on paying debts The importance of being conscious about your decisions, especially when it comes to paying debt Building responsible habits And SO much more! Links from the Show FinCon Podcast Movement Mint Annual Credit Report Bankrate Paychecks & Balances Podcast - How I Reached Six Figures in My Trading Account ft. Jason Brown- PB105 Uber Lyft We Read the 15 Best Personal Finance and Investment Books and Summarized the Action Items From Each That Will Make You Rich - Paychecks and Balances Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Bigger Pocket's Money Podcast Show Number 56 where we interview Rich Jones and Marcus Garrett from paychecks and balances.
0:07.0	2018 has really been that year for me where I've had that intentionality, which I think is the most important part of it is having that
0:13.5	goal and having that vision and for me I always talk about having an emotional
0:18.0	connection to whatever goal you're setting for yourself.
0:20.3	It's time for a new American dream one that doesn't involve working in a cubicle for 40 years
0:25.2	barely scraping by whether you're looking to get your financial house in order
0:28.7	Invest the money you already have or discover new paths for wealth creation, you're in the right place.
0:35.2	This show is for anyone who has money or wants more.
0:38.2	This is the Bigger Pocket's Money Podcast.
0:41.2	How's it good everybody?
0:42.2	I'm Scott Tranched.
0:42.4	I'm here with my co-host Miss Minnie Jensen how you doing today Mindy
0:45.0	I am doing fantastic Scott over the weekend I ran a 5K I don't want to share my time with you because it is a blisteringly slow 15 minute miles.
0:55.3	Woo!
0:56.3	No, I came in at 43 minutes because running is not my thing.
1:00.8	But I finished.
1:01.8	That's great. I finished and that's better than not
1:05.2	finishing what your being end goals at a half or a full marathon oh half marathon I'm
1:09.9	not crazy nice Just a half.
1:14.0	And that's in May.
1:15.0	Hopefully, I will be able to.
1:17.0	I haven't decided exactly which half marathon I'm running yet.
	...

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