Teach Me How to Money

It's our 50th episode of the podcast! Thanks for listening! Maybe you dream of starting your own business, but you don’t know exactly how to break out of cubicle culture, or your current job. On this episode of Teach Me How to Money, we talk to Stash CEO and co-founder Brandon Krieg about how he got the idea to launch a new kind of financial services company, and how the best businesses—including Stash—help to solve customer problems. Hosted on Acast. See acast.com/privacy for more information.

You don’t need a huge stack of money to start planning for retirement. On this episode of Teach Me How to Money, personal finance expert Farnoosh Torabi walks us through the steps of saving with retirement goals in mind. Even if you can only save small amounts of money at first, it all adds up. Hosted on Acast. See acast.com/privacy for more information.

Buying a home is the biggest purchase that many of us will ever make, and it usually involves taking on lots of mortgage debt. On this episode of Teach Me How to Money, real estate pro Natali Morris sheds some light on the home buying process, and why it might help to purchase property that produces income. Hosted on Acast. See acast.com/privacy for more information.

On this episode of Teach Me How to Money, financial advisor Winnie Sun teaches us what it means to be mentally strong, and why getting creative about making money can help you gain confidence and help you take control of your financial life. She’ll also talk about why you should try to increase your financial knowledge every day. Hosted on Acast. See acast.com/privacy for more information.

Learning to balance risk with reward in the stock market, starting your own business, and sorting out how much debt you should take on for home and college loans are just a few of the things we talk about on this episode of Teach Me How to Money, with guest Joe Saul-Sehy. In addition to his podcast Stacking Benjamins, Saul-Sehy has advised people about money for decades. His big advice: be sensible about risk when investing, but don’t avoid risk completely. Hosted on Acast. See acast.com/privacy for more information.

We’re all used to mom and dad having serious talks with us. But how do we turn the tables and have that all-important talk with our parents about their own financial lives as they get older? On this episode of Teach Me How to Money, financial columnist Cameron Huddleston gives us advice about how to tackle one of the hardest money topics there is--the financial future of your parents, and why we have to do it. Hosted on Acast. See acast.com/privacy for more information.

Life’s all about the choices you make and on this episode of Teach Me How to Money, financial expert Paula Pant talks about how you can afford anything, if you make the right choices, and prioritize saving. Also, she’ll tell us all about the time she continued to live with roommates, even after she became a millionaire. Hosted on Acast. See acast.com/privacy for more information.

Hey, it’s a fact: Women do money differently than men. In this episode of Teach Me How to Money, financial educator Bola Sokunbi talks about how she addresses women’s needs when it comes to personal finance—and why it’s okay to get emotional. Hosted on Acast. See acast.com/privacy for more information.

Did you know that part of how everyone deals with money is inherited psychology from our parents? To overcome bad money psychology, it helps to open up with people about what your financial situation is really like. On this episode of Teach Me How to Money, we talk with media personality Gaby Dunn about what it really means to be bad with money. Hosted on Acast. See acast.com/privacy for more information.

If you’ve been avoiding your lender, and all those calls from creditors, this one’s for you. Chelsea Fagan, the founder of The Financial Diet blog, sits down with us on Teach Me How to Money to talk strategy for rebuilding credit and improving your credit score. She shares some tips from her own life about how to make your phone stop ringing. Hosted on Acast. See acast.com/privacy for more information.

Maybe you don’t have to go to college after all. In this episode of Teach Me How to Money, financial expert and author Anthony ONeal shares his experiences of getting into—and out of—massive college debt. Now, he advises most young people to think carefully before taking out those educational loans, and explains what the other alternatives are. Hosted on Acast. See acast.com/privacy for more information.

Debt can change your life—the stress, the collection notices, the toll it can take on your self-esteem. But you can also change your life to fix your debt. The first step is knowing when to pull the ripcord on your spending and activate your “ramen” budget. The second is to understand that while debt can feel rotten, it’s not the end of the world. The shame can keep you from On this week’s episode of Teach Me How to Money, Tiffany “The Budgetnista” Aliche talks about how she dug herself out of a 5-figure debt sinkhole (and a foreclosure) and became an advocate for others like her. Hosted on Acast. See acast.com/privacy for more information.

Are you ready to get rich? Chances are, you want it to happen fast and with not a lot of work. Sad news: There’s no scheme, plan, or strategy that can guarantee that you will get rich quick. No one becomes a millionaire overnight (unless you’re born with a trust fund). Yet, it’s possible to gain wealth over time with regular saving and smart spending. On this week’s episode of Teach Me How to Money, Chris Hogan, financial expert and author of “Everyday Millionaires”, teaches us how to get into the millionaire mindset and set your sights on a goal you can attain. Hosted on Acast. See acast.com/privacy for more information.

Just about everyone struggles with money. For example, you are likely well-acquainted, with the sinking feeling you feel when you see how much money is left in your bank account after you pay your phone bill, rent, and buy some groceries. That’s tough for everybody. But if you’re a member of the LGBTQ community, it can be exponentially more difficult. On this episode of Teach Me How to Money, David and John—The Debt Free Guys™—tell us about the numerous financial barriers and obstacles members of the LGBTQ community encounter. Hosted on Acast. See acast.com/privacy for more information.

Tell us if this has happened to you: your friends invite you to go away on vacation. Cruise tickets? $1,500. You don’t want them to think you don’t have the money to pay for it, so you charge it on your credit card and worry about it later. Or maybe you hear a rumor that your colleague is making more money than you for the same job. You freak out and complain to your boss. Then you realize that maybe, that wasn’t the best strategy to get what you want. Talking about our money and how much we make can be seriously awkward. It brings up all kinds of issues because, well, there’s no handbook for how to have tough financial conversation with friends, coworkers, and even our families. On this episode of Teach Me How to Money, Lindsey Stanberry*, the work and money editor of Refinery29 and author of Money Diaries: Everything You've Ever Wanted to Know About Your Finances... and Everyone Else's, tells how to stop feeling embarrassed about our salaries and start being real (upfront about our finances). Hosted on Acast. See acast.com/privacy for more information.

Credit cards can be valuable financial tools, if you know how to use them correctly. They can also get you into serious trouble if you don’t. Learning the difference between healthy and unhealthy credit card use is key to having a strong financial life. And since credit cards often offer rewards and points that can be redeemed for travel miles or cash back, if you’re diligent, they can help you get the things you want, as well as build your credit. Brianna McGurran*, a contributor to the financial site Nerdwallet, teaches us how to use credit cards properly so that they work for, not against us. The following are excerpts from McGurran’s recent conversation on Stash’s “Teach Me How To Money” podcast, with our editorial director Lindsay Goldwert, edited for clarity. 1. You should understand why credit is important. Credit is the thing that lenders look at before they issue you a loan or a credit card. It's your financial history--it's who you are as a person, in the financial world…[And determines] whether or not you can be trusted to borrow money or to pay something back on time. You [need credit] for anything from getting a mortgage to getting a credit card. You need credit history in order to get [a travel rewards credit card]. You also need credit, sometimes, to rent an apartment...Landlords will check your credit history, as it's sort of this proxy for how responsible you are. 2. Closing a credit card may not actually help you. Unfortunately, what happens when you close an account [is that] your average length of credit history goes down. Suddenly, all the history that you built up with that account goes away. So, your [credit history is] starting from the first day of your next oldest account opening. Also, say you have a credit limit of $2,000 on [the] card you closed, but the card you keep open has a credit limit of $1,000, and you have $300 of debt outstanding. Your credit utilization ratio now becomes higher because you have $300 in debt on a $1000 credit limit, instead of a $2000 credit limit...That ends up actually making it look like you have more debt compared to your credit line[s]. 3. Applying for credit will likely impact your credit score. There is a penalty if you apply for credit cards. A hard inquiry (when a potential lender looks at your credit history) on your credit report will affect your credit. Applying for a lot of credit cards over the course of a long period of time, you're just going to get dinged over and over...there's really no reason to [do it]. 4. There may not be a “best” credit card--so, look for the right card for you and your goals. We all get so many offers, letters, and ads...My advice is usually to ignore the offers and the letters, and only search for [a card] when you're ready for it. When you are ready to get a financial product, you are more likely to actually apply wisely and find something that is good for you. Think about your goals. If you're the type of person who travels a lot, a travel credit card that gets you rewards based on your spending could be right for you. If you're the type of person who, even if you travel a lot but you just can't be bothered with tracking rewards or knowing how the credit card works, a cashback [card] might be better. Or, if you really need to build credit, there are certain credit cards that are good for that. 5. Don’t forget about fees. It's important to see what fees are associated with every credit card, and every financial product in general. If you are interested in a rewards card, but it comes with an annual fee, you have to do the math to make sure that... Hosted on Acast. See acast.com/privacy for more information.

What was your New Year’s Resolution in 2018? Maybe it was to get to the gym more often or to eat more salads. Or perhaps you told yourself you’d put down your phone more often and read more books. But according to many surveys, including this one from Newsweek, financial resolutions are high on a lot of people’s lists. So why are they so hard to keep? On this week’s episode, Jean Chatzky, host of Her Money podcast and the Financial Editor at the Today show, teaches us how to make better promises to ourselves and make New Year’s resolutions that actually stick. Thanks for listening to Teach Me How To Money. Send us your questions at TeachMeHowToMoney@stashinvest.com. Don't have Stash yet? Just go to stashinvest.com/podcast and you can get $5 to get you started on your investment journey. Hosted on Acast. See acast.com/privacy for more information.

A juice cleanse is supposed to reset your diet. Can a money cleanse reset your budget? Yes, says Ashley Feinstein Gerstley, a money coach and “financial nutritionist.” Gerstley, the author of the 30 Day Money Cleanse, believes that taking care of one’s money is similar to taking care of one’s body. It’s all about resetting and create new and possible habits, whether it comes to your weight or your wallet. But while crash diets can lead to failures, the same can go for austerity measures. Subtle changes can make a big difference over time. You just need to find the right balance. Thanks for listening to Teach me How to Money. Send us your questions at teachmehowtomoney@stashinvest.com and we'll try to answer them on a future episode. Don't have Stash yet? Just go to stashinvest.com/podcast and you can get five dollars to get you started on your investment journey. Hosted on Acast. See acast.com/privacy for more information.

What does it mean to be a smart shopper? Here’s the thing: It’s not always being an extreme couponer, buying in bulk, or stacking your gift cards. Being a smart shopper can mean using technology to get discounts on things you need, buying sunglasses or winter coats at the end of the season, or avoiding being tempted by sale items (just because they’re on sale). In this episode, Trae Bodge, a shopping expert who has appeared on the “Today” show and “Oprah” talks about shopping lists, bad deals, smart strategies, avoiding aggressive ads, using credit cards wisely, and how to shop at big box stores without wasting your money. Thanks for listening to Teach Me How To Money. Send us your questions at Teach me how to money at stashinvest.com and we'll try to answer them on a future episode. Don't have Stash yet? Just go to stashinvest.com/podcast, and you can get $5 to get you started on your investment journey. Hosted on Acast. See acast.com/privacy for more information.

We all need advice from time to time. But when do you need a financial advisor? There are financial advisors for everyone, from middle-class Joes to multimillionaire Jills. But how do you know if your advisor is serving your best interests? Trusting someone with your money is no joke. How do you know what to look for? Douglas Boneparth, the coauthor of The Millennial Money Fix, tells us what to look for in a financial advisor and what questions you should ask. Thanks for listening to Teach Me How to Money. Send us your questions at teachmehowtomoney@stashinvest.com and we'll try to answer them in our future episode. If you like what you're hearing, leave a survey on the iTunes Store, Stitcher, or wherever you listen to your favorite podcasts. Don't have Stash yet? Just go to stashinvest.com/podcast and you can get $5 to get you started on your investment journey. Hosted on Acast. See acast.com/privacy for more information.