Episode 271-Overcoming Spending Guilt, Investing When You Can, The Usefulness of Debt + More With Nick Maggiulli

Journey To Launch

Jamila Souffrant

Business, Investing

4.9 • 1.7K Ratings

🗓️ 25 May 2022

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Nick Maggiulli, blogger and author, joins the podcast to discuss the intersection of data and personal finance.

We talk about the numbers behind financial moves to save money, invest, and build sustainable wealth, while also combatting common absolutes in the personal finance world. Nick and I discuss the order of operations of investing, how debt isn't always bad, why he thinks you probably shouldn't max out your 401k, and more.

In this episode we discuss:

The importance of where you focus your attention in your financial life
Why you need an emergency fund first and foremost
How to stop the stress and guilt we feel when we spend money
The 2x rule when you are able to spend
The usefulness of debt + more

Other related blog posts/links mentioned in this episode:

Buy Nick's book: Just Keep Buying
Join the waitlist for my signature course, Map Your Way To Financial Independence, here.
Check out my new personal website here.
Join The Weekly Newsletter List
Leave me a voicemail– Leave me a question on the Journey To Launch voicemail and have it answered on the podcast!
Watch me on News12 Watch my latest segments on News12
YNAB – Start managing your money and budgeting so that you can reach your financial dreams. Sign up for a free 34 days trial of YNAB, my go-to budgeting app by using my referral link.

Connect with Nick:

Connect with me:

Transcript

Click on a timestamp to play from that location

0:00.0	Investing matters a lot when you have a lot of money, and saving matters a lot when you
0:06.2	don't have a lot of money.
0:07.2	So when I say savings for the poor investing for the rich, I mean this on absolute
0:10.2	sense.
0:11.2	So like if you're young or you don't have a lot of assets invested, the only lever you
0:14.7	can really pull right now to change your wealth is your savings and your labor income
0:18.1	and saving money and getting it invested, right?
0:20.8	But as you gain wealth, then you can go and then your investments matter.
0:25.4	You have to focus so much more on those investments.
0:30.4	Welcome to the Journey to Launch Podcast, with your host, Jamila Sufrat, as a money expert
0:36.2	who rocks her top.
0:37.8	She helps braid juniors like you, get out of debt, save, invest, and build real wealth.
0:44.8	Join her on the Journey to Launch to Financial Freedom in 5 on 4, 3, 2, 1.
0:55.4	Journey to Launch is supported by First Republic Bank.
1:04.9	A seamless banking experience is something we all want, but what does it really mean?
1:10.5	At First Republic, it means you have access to your own personal banker.
1:15.1	Someone who knows your name and is there for you when you need them.
1:18.3	I know at any time, I can just reach out to my personal banker, Linda, with any questions
1:24.1	that I have.
1:25.4	It's amazing to know that I won't get the run around by the automated voice recordings
1:29.4	and number prompts that lead you to a dead end that I don't have to be put on hold for
1:33.8	hours before I can speak to an actual person.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Jamila Souffrant, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Jamila Souffrant and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.