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

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

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

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The “Set It and Forget It” Path to FIRE by Your 40s

The “Set It and Forget It” Path to FIRE by Your 40s

If you invest consistently, reaching FIRE (financial independence, retire early) by your mid-40s is absolutely possible. These two financial-freedom-chasing twins are proof of it! Only in their 20s, b...

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Leaving His Job at 36 to Give Back, NOT Get Rich During FI

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For many of us, FI (financial independence) isn’t just about having the biggest bank account. Growing wealth is one thing, but getting rich isn’t the goal. Freedom, time with loved ones, and giving ba...

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If No One Follows the 4% Rule, What IS the Right Withdrawal Rate?

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Most people assume the “safe withdrawal rate” for retirement (or early retirement) is 4%. But, if that’s the case, why is it SO hard to find anyone who’s gotten to their FIRE number, quit their job, a...

23 Touko 202557min

No, Taxes Won’t Derail Your FIRE: Here’s What You’ll Really Pay in Retirement

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No, Taxes Won’t Derail Your FIRE: Here’s What You’ll Really Pay in Retirement Podcast Description Taxes in retirement have been called a “silent wealth killer” for those pursuing FIRE—but does the d...

20 Touko 202542min

Scott Steps Down as CEO: A New Age for BiggerPockets Money

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BiggerPockets’ CEO Scott Trench announces his decision to step down as CEO, and focus full-time efforts on personal finance content with BiggerPockets Money. We also welcome BiggerPockets’ new CEO, Al...

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JL Collins: The “Simple” Path to Wealth, FIRE, and Stress-Free Investing

JL Collins: The “Simple” Path to Wealth, FIRE, and Stress-Free Investing

The Simple Path to Wealth is arguably the most influential book in the FIRE movement. JL Collins, its author, is revered among early retirees as one of the trailblazers for FIRE, showing that anyone, ...

13 Touko 202554min

How to Create Huge Tax Savings Funding Your Kid’s College (& FIRE on Time!)

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Paying for college is one of the biggest financial hurdles families face—even as you’re chasing or approaching FIRE. What’s the smartest way to save for higher education while also securing your finan...

9 Touko 202549min

I Retired Early in My 40s WITHOUT Withdrawing from My Portfolio! | Life After FIRE

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You CAN retire early in just ten years IF you save and invest enough. Fortunately, your retirement expenses may be less than you think. Chris Luger, from Heavy Metal Money, didn’t think about retiring...

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