Chain of Wealth - Debt, Investing, Entrepreneurship, Wealth & More

Original Podcast Episode: Travel Hacking

Ruby is the main blogger of the website, “A Journey We Love” that she documents achievements with her husband, Peter.

Ruby loves travel hacking, finding deals, and thinking of ways to save money!

Originally from the Philippines, she moved to the USA to pursue an employment opportunity.

She now lives in Jacksonville, Florida and has been to more than 20 countries and 16 US States. She has also backpacked around South East Asia.

She hasn’t quit her job to pursue her passions– yet. That will happen once she reaches financial independence.

Welcome Ruby!

[3:47] Tell us a bit about yourself

• Lives in Jacksonville, Florida
• From Philippians 

[4:43] So you haven’t quit your day job yet, what do you do?

• Accountant 

[4:58] If you could go back in time, what is one financial mistake that you wish you could take back?

• Trip to Hong Kong

[6:48] You published on your website “A journey we love” that you and your husband, Peter have reached a net worth of a quarter of a million dollars. What did you do to achieve this?

• Paid off student loans
• Maxed out 401K, Roth IRA and HAS
• Invested in Vanguard funds
• Stock/bond mixture
• Airbnb hosting

[8:17] What is your next goal?

• Have financial independence  

[8:52] Do you purely save? Or do you invest? If so, where?

• Saving- 6 months in emergency funds in bank account
• Investing- max out Roth IRA and 401k 

[11:23] What is the next thing you plan on doing on your bucket list?

• Swim with sharks
• Swim with manatees

[12:43] How did you save $6,500 on traveling last year?

• Airline points 
• Hotel points
• Take turns on getting credit cards and getting bonus

[23:46] Chain of Wealth – Are you deciding whether or not you want to rent your house out?

Check out our guide on becoming an airbnb host and see how much money you can make.

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[15:55] Why do you think people have a hard time achieving their goals?

• Don’t have set goals
• Write it down

[17:3] Do you have any books or podcasts that you recommend?

• Podcast: Afford Anything
• Books: Rich dad, poor dad

[18:55] What is your favorite quote?

• Live life to the fullest

[19:46] How can our listeners get in touch with you?

• Facebook- a journey we love 
• A journey we love 
• Twitter- a journey we love 

[20:13] Any last advice?

• Have a goal in mind

Original Show Notes: Saving for College

Abby Chao is Co-Founder & COO of CollegeBacker, a simple and social way to save for college.

In just 5 minutes, a parent can open a tax-advantaged 529 College Savings Plan, determine a personalized savings plan for their child, and invite family and friends to contribute.

Plus, with CollegeBacker Gifts, anyone can kick start a child’s college fund by sending a redeemable gift.

Special Gift: Sign up here and get FREE $25!

Welcome, Abby! 

[4:5] What is your favorite childhood memory?

• Hit tennis balls with pro players

[4:43] What is the biggest money mistake you have made?

• A Lot of little ones 

[5:35] Where did the idea for CollegeBacker come from?

• Friends and family were stressed about saving for kids’ college

[6:53] Did you create the company alone or did you have partners?

• Jordan had already created it
• Thought it was a great idea 

[10:45] If you could go back and know something in the beginning, what would it be?

• Getting started and learning as you go
• Enjoy the process

[11:45] How did you get funding to start CollegeBacker?

• Venture capital investors

[12:14] Tell us a little bit more and how much does this program cost?

• Voluntary monthly subscription fee
• $0-$10/ month
• Can pause or change amount at any time

[12:33] Chain of Wealth – Chain of Wealth is now active on Pinterest!

Click on this link to check out our Pinterest page.

[13:57] Why do you think people struggle to achieve their dreams?

• Coming up with a plan

[14:44] Do you have any books or podcasts you recommend?

• Books: Man Search for Meaning & Zen and the art of motorcycle maintenance  
• Podcasts: How I build this

[15:36] Where can our listeners find you?

• Collegebacker.com (Get free $25 and sign up here!)
• Facebook-collegebacker
• Twitter- collegebacker  

[16:31] Any last advice?

• Give money for Christmas and birthdays to help save for college

Original Show Notes: John Mitchell talks about couples joining money

LPL Financial is one of the leading financial services companies and the largest independent broker/dealer in the nation as reported by Financial Planning Magazine, June 1996-2017.

For about four decades, the firm has served as an enabling partner, supporting financial advisors in their goals of protecting and growing their clients’ wealth.
Today, we are speaking with John Mitchell. John Mitchell is a registered representative with, and securities are offered through LPL financial, Member FINRA/SIPC. 

Investment advice offered through 360 Wealth Management, a registered investment advisor.
360 Wealth Management is a separate entity from LPL Financial
Welcome, John!

[1:19] Tell our listeners a bit about your personal life.
·      Husband and father
·      Lives in Oklahoma

[2:4] What financial mistake have you learned the most from?
·      Spend the same dollar twice
·      Overestimated income

[3:11] How did you get started as a CFP?
·      Worked for insurance company
·      Felt confined
·      Wanted to help people

[4:6] When do you think is the best time for a couple to start a shared account?
·      Money has no meaning
·      Shared goals

[6:49] What advice would you give to a couple that is having trouble compromising on what needs to be paid off first?
·      Don’t lose sight on wanting to become debt free
·      Date night chat
·      Why each debt is important

[11:14] What would you say to a couple that has totally different views on money? What advice do you have for them?
·      Understand significant others’ family money culture

[16:50] How does credit come into play once you are married?
·      It’s a tool
·      Plan what you use your credit on

[19:0] What are some positive ways to talk to your partner if they are overspending?
·      Don’t do it when you’re mad

[21:24] What are some common mistakes that you see people making with their money?
·      Credit- making long term commitments quickly

[22:44] Tell us a bit about LPL Financial- what are its goals? How can it help our listeners?
·      Largest broker dealer
·      All offices are independent

[23:46] Chain of Wealth – Want to get out of debt easily?

We’re written an easy to understand debt guide to help you learn all the tips you need to get out of debt.

If you’re enjoying this podcast, don’t forget to subscribe, rate and review!

[24:11] Why do you think that people fail at achieving their financial goals?
·      Weight loss analogy
·      Change lifestyle

[27:19] What books or other podcasts do you recommend to our listeners?
·      Managing your money for Dummies
·      Personal Finance for Dummies

[28:48] What is the best advice someone ever gave you?
·      Money creates problems that more money can’t solve

[29:49] What is your favorite word or quote?
·      More is usually not a good answer

[30:0] Where can our listeners find you?
·      Google: LPLFinancial- John Mitchell
·      Values-based-planning.com
·      Facebook
·      Twitter

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.  There is no assurance that the techniques and strategies discussed are suitable for all individuals or will yield positive outcomes

Original Show Notes: Bethany Bayless talks about traveling for cheap

Bethany Bayless is the founder of the blog Wanderlust For Less and has launched a new podcast, The Money Millhouse.

Bethany’s blog tells all about how to travel on a dime- something that everyone wants to do, but struggle actually doing.

[0:44] Bethany, can you tell our listeners about yourself?
·       Lives in California
·       Has a puppy named London
·       Loves to travel

[1:38] So, when you boarded that plane to England and all you had was 2 bags- what was the scariest part?
·       The unknown
·       Never been overseas

[3:35] Did you have a plan or a job lined up?
·       Volunteer job
·       Did pay for room and travel

[4:33] If you could go back and know something before all your travels started, what would it be?
·       Failure is an option
·       Failing is learning

[6:20] Tell us, how was Norway?
·       Went in May of 2017
·       Want to go back and do it again
·       So much to see

[7:56] Travelling is expensive; we all want to do it- how do you afford this?
·       Live frugally in everyday life
·       Travel in the off peak seasons
·       Stay with friends, hostels or Airbnb
·       Use flight apps like Hopper

[10:28] You said that you want to hit 30 countries before your 30th birthday. What countries are next on your list?
·       Next year- Israel and Jordan

[10:52] You have also started a podcast! The Money Millhouse– tell us about it. Where did the idea come from?
·       Conversational money chat

[12:28] What is your favorite thing to talk about when it comes to money?
·       Travel
·       Frugality

[13:44] Where do you see people making their biggest financial mistakes?
·       Credit- there is a lot that we don’t get taught

[15:0] Where has it been the hardest for you when taking control of your finances?
·       I’m a born spender

[16:15] Chain of Wealth – Are you looking for a support group for learning how to manage money?

Head over to chainofwealth.com/group to be redirected to our facebook group where you can join the community and get the support you deserve.

If you’re enjoying this podcast, don’t forget to subscribe, rate and review!

[16:39] Why do you think that people don’t achieve their dreams?
·       Dreams are so big and there’s not enough consistency

[18:19] Do you have any other books or podcasts you recommend?
·       Podcast: Stacking Benjamin’s
·       Podcast: How I build This
·       Podcast: The Ted Radio Hour

[19:18] Do you have a favorite quote?
·       If you fail to plan, then you plan to fail

[19:53] What is the best advice someone has ever given you?
·       My friend told me, you are the only one who can say it like you

[20:58] Where can our listeners reach you?
·       Wonderlust4less.com

[21:18] Any parting advice?
·       One step at a time

Original Show Notes: Kristin Larsen - Believe in a Budget

Kristin Larsen is a full time blogger.

Her blog Believe In A Budget was started in January 2015, when she shared her journey on saving money and getting out of debt by doing random paying jobs.

With limited experience with blogging, she figured that if she could get one person to read her blog and help that person start a side hustle, her goal would be met. Now, Kristin is making thousands of dollars each month all thanks to her blog.

Welcome, Kristin!

[1:0] Tell us a bit about yourself?
·       Started blog in 2015
·       Wanted to make more money online

[1:47] If you could go back in time, what would you do differently?
·       Wake up call about money during the recession
[2:29] What is the biggest money mistake you’ve made?
·       Always been good with money
·       Wished saved more earlier on
·       Budget better

[3:17] Which one of your blogs is your favorite? Why?
·       Published my first income report
·       Made $60

[4:15] You offer courses on your website- can you tell us about them?
·       Side Hustles to Success
·       Pinterest Presence- Katie is taking this one… it’s great!
·       Become a Pinterest VA Today

[6:33] You have quite a list of side jobs you’ve done in the past. Which was the most fun?
·       Pet sitting
·       Dog walking

[8:59] What was your most difficult time when learning how to blog?
·       How to use time wisely

[9:51] What advice do you have for anybody thinking to start a blog?
·       Anyone can start but you need patience to keep going
·       Be patient with yourself
·       It’s not a get rich quick thing
·       Reach other to other bloggers

[10:53] Chain of Wealth – Sign up for the weekly newsletter at Chain of Wealth to get a quick episode recap and to find out the latest tips and tricks to save money.

If you’re enjoying this podcast, don’t forget to subscribe, rate and review!

[11:18] Why do you think people fail at achieving their dream?
·       People can’t see long term results
·       Put in time and effort

[11:52] What is the best advice someone has ever given you?
·       If you want something, you have to ask for it.

[12:50] What other podcasts or books do you recommend?
·       Podcast: The Bobby Bones Show
·       Book: Ten percent happier

[14:7] What is a quote you try to live by?
·       Grace not perfection
·       Rules are for suckers

[15:1] How can our listeners get in touch with you?
·       Website: believeinabudget.com
·       Twitter: @believeinbuget
·       Facebook: Believe in a Budget

[15:19] Any last advice?
·       Be kind to yourself

Original Show Notes: Renee Dunn from Amazi Foods

[2:3] Amazi was officially founded in April 2016, but has been a dream for years. After studying in Uganda, the founder, Renee, was shocked by the high degree of entrepreneurship, but surprised by the endless piles of tomatoes, plantains, bananas going to waste- There was a lack of business growth, employment opportunities, and variety in product offerings.

Renee was inspired by Issues of competition, huge food waste, and unemployment rates. She wanted to add value to natural resources – by providing growth avenues for entrepreneurs, the unemployed, and farmers.

Katie heard Renee speak at the DC Start Up week a few weeks ago and thought your story was incredible. Your company makes plantain chips. For any listeners who don’t know what a plantain chip is- they look like a larger banana and you cut them to look like a chip.

Welcome Renee!

[3:18] Let’s hear a bit about Amazi – what is a plantain chip?
·      Plantain chips are unique – dried and roasted
·      Looks like a smaller banana, Uganda known as the banana republic

[4:42] So Renee, tell our Chainers a bit about yourself outside of Amazi 
·      Grew up in DC area
·      Holds a double major in Economics
·      Teaches Yoga and fan of cooking

[5:54] You got the idea for Amazi because you saw such stagnated growth in Uganda, what were your first steps? Did you have a business plan? Or just dive in making plantain chips?
·      Studied some business books and templates
·      No formal plan initially as unsure of point of entry
·      Ended up jumping on a plane when lease was ending and gave herself 3 months

[7:0] What was the scariest entrepreneurial step that you had to make?
·      Going wasn’t the scariest part, it was coming back and deciding to go with it.

[7:57] Amazi- Where did you come up with the name?
·      Uganda word means water

[9:8] Where would you say you spend most of your time? The US or Uganda? How do the two countries compare?
·      Fully based in the US
·      Occasionally visits Uganda and is situated as the market connector
·      Did lots of work from the ground up like organizing the farmers markets
·      Two countries are very different – Uganda is the “Pearl of Africa”, every day is a hustle.

[12:43] How do you handle making plantain chips in Uganda but selling them all over the DC Metro area?
·      Established her own process
·      Get ready to get hands dirty – spend more time on the ground
·      Learn to understand culture of the country you are doing business with

[14:25] Where are some places people can buy and tryout your chips?
·      amazifoods.com
·      Amazon listing will be back in 2018
·      Currently 6 Dean & DeLuca locations across the country
·      Check out find us page on amazi website.

[15:17] What are your next ideas to help grow Amazi?
·      2 new product lines
·      Revamp of branding
·      Hiring a team
·      Co-packing and larger distribution

[21:37] Chain of Wealth – Looking to host an airbnb? Katie’s written an awesome guide on how to host an Airbnb where she has earned over $7,000.

Check out chainofwealth.com/airbnb to find out more.

If you’re enjoying this podcast, don’t forget to subscribe, rate and review!

[16:56] Why do people fail?
·      So they can appreciate success when it happens

[17:5] What books or other podcasts do you recommend to our listeners?
·      Insight timer (meditation app)
·      Book – Lean Startup
·      Book – The Personal MBA
·      Podcast – Masters of Scale

[18:4] What is the best advice someone ever gave you?
·      Create an exit strategy for yourself – transition role into the role you want to be in.

[18:34] What is your favorite word or quote?
·      Word: Generate – idea of giving to get

[19:8] What last parting advice do you have for someone trying to start a business?
·      Practicing non attachment and curiosity

Original Show Notes: Erin Lowry from Broke Millennial

Erin Lowry is an outstanding writer and is the author of Broke Millennial- stop scraping by and get your financial life together. She has countless blogs on her website that help the 20 and 30 somethings learn and plan for their financial future.

Erin leads by example- telling you in detail all of her tips.

Welcome Erin!

[0:50] So tell us something else about yourself
·      Lives in New York City
·      Lives with partner and dog

[1:25] I loved your blogs- I read like 5 of them, so I have a few questions-
Can you start with telling the Chainers about the doughnut selling yard sell lesson?
·      North Carolina in 1996
·      7 years’ old
·      Sell Krispy Kreme Doughnuts at yard sell

[4:7] What is your $5 saving strategy?
·      Read it on a blog
·      Pay in cash- saves every $5 bill
·      Saved over $300 in 4 months

[6:6] Can you explain what a credit freeze is and what is it used for?
·      Need a special pin number to “thaw” your information
·      Protect yourself from identity theft

[9:31] Do you still do your weekly 15-minute money meetings? Can you explain to our listeners what this is?
·      Every Sunday
·      Sit down and check all accounts
·      Great way to check fraud
·      No surprises

[11:14] What are 2 of your “staying on budget” tricks that you use?
·      Find a style to work for you
·      Know your cash flow

[15:15] What do you think the secret is to getting great credit and then being able to keep it?
·      Two big parts:
o   Utilization (available credit) & payment history
·      Payment history: Pay on time!
·      Utilization: Use 30% of available credit- don’t use more

[17:13] I read that you are an expert on student loans- what did you do to pay for your half of your loans?
·      Paid for 50% of college- went to school with scholarships
·      Partner has student debt to tackle

[18:23] So let’s talk about your book, Broke Millennial- stop scraping by and get your financial life together. What was the inspiration to writing this book?
·      Always wanted to be a writer
·      Help other people to control their money
·      Each chapter stands alone

[20:5] What is your favorite chapter in the book?
·      Getting financially naked chapter

[20:59] What are some of your upcoming projects?
·      Just signed a 2 book deal
·      1 on investing
·      Other is undecided- have an idea, tweet @brokemillennial

[13:05] Chain of Wealth – Awesome gadget guide for the holidays, check out Katie’s top recommendations.

If you’re enjoying this podcast, don’t forget to subscribe, rate and review!

[22:4] Why do people fail at achieving their dreams?
·      Too scared to try

[22:26] What books or other podcasts do you recommend to our listeners?
·      Podcast: Planet Money, Reply All, The Nod, Tim Ferriss, The Nerdist, This American Life, Two Dope Queens, Death, Sex and Money, Heavyweight, The Fire Drill Podcast, Uncivil, The Money Nerds Podcast, Freakanomics,
·      Books: Daughters of the Samurai, The Thin Green Line

[24:7] What is your favorite word or quote?
·      Compound interest is the eighth wonder of the world, he who understands it, earns it; he who doesn’t, pays it.
·      Mantra: Remember who you wanted to be

[24:57] Any last advice for our listeners?
·      Run your cash flow
·      Think of goals

Denis & Katie discuss whether to buy or rent as they open the next door of their financial journey.

Visit www.chainofwealth.com to grow your wealth.

Original Show Notes: Michelle Schroeder-Gardner from Making Sense of Cents

Michelle Schroeder-Gardner graduated college in 2010 and then went on to receive her MBA in 2012.

She then worked as a financial analyst at a valuation and investment banking firm. She decided to leave that life behind and is now a full time blogger and freelancer.

Her website “Making Sense of Cents” has won more awards and mentions than can be named. She and her husband travel the country in their RV and wouldn’t have it any other way.

Welcome Michelle!

[1:11] So, can you tell us a bit about yourself?
·      Was financial analyst
·      Started blogging for fun
·      Quit day job 2 years after starting blog

[2:19] You said that you owed $38,000 in student loan debt. How did you pay it off so quickly?
·      Side hustled a lot

[2:54] What advice do you have for people who are paying theirs off?
·      Try to side hustle a little more
·      Cut down TV watching

[4:39] You report that you regularly make over $100,000 a month. How did you manage to make so much money off of your blog? What was your secret?
·      Affiliate marketing – sign up for the course here!
·      Create courses
·      Sponsored posts/ advertisements
·      Display ads

[5:57] About how many hours do you work in a week?
·      Over 100 hours a week in beginning
·      10-20 hours/ week recently

[8:14] Do people treat you differently now that they see how much money you make?
·      No- don’t broadcast the blog
·      Still act the same
·      Frugal with money

[9:6] What is one of your favorite blogs that you’ve written in the last year? Why?
·      Ones that talk about work from home money
·      “Why would you make $100,000+ a month and live in an RV?”

[11:5] Vacation vs. debt- If I owe student loans or credit cards, does that mean I shouldn’t go on vacation?
·      All about balance
·      Stay-cations
·      Maximize credit card rewards

[12:40] Why is it so important for people to create a budget?
·      Stops living paycheck to paycheck
·      Increase savings
·      Reduce/ eliminate credit card debt

[13:28] Tell us about your RV life?
·      Started 2 years ago
·      Thought it would be a weekend thing
·      Did not plan to live in it

[13:05] Chain of Wealth – Awesome gadget guide for the holidays, check out Katie’s top recommendations.

If you’re enjoying this podcast, don’t forget to subscribe, rate and review!

[16:19] Why do you think people fail at achieving their dreams?
·      Make too many excuses

[16:54] Do you recommend any other podcasts or books?
·      Book: Broke Millennial
·      Podcasts: Heath and Alyssa, Money Peach, Adulting.tv

[17:24] What is the best advice someone ever gave you?
·      Bad advice- spend all your money while young

[18:4] What is your favorite quote?
·      James Dean: Dream as if you’ll live forever, live as if you’ll die today”

[18:19] How can our listeners get in touch with you?
·      Makingsenseofcents.com
·      Instagram

[18:49] Any last advice?
·      If you have debt, find ways to make extra money

Original Show Notes: Juliana Cardona Mejia from Street Entrepreneurs

Juliana Cardona Mejia is the founder of Street Entrepreneurs. A nonprofit organization in service of providing entrepreneurs of all backgrounds with practical knowledge and access to networks and start up grants.

Juliana has worked tirelessly to grow her business from the ground up. She has worked to teach herself and others what it takes to be successful

Welcome, Juliana!
[0:50] Tell us a bit about yourself
·       Born in Colombia
·       Lived all over America
·       Thought about career in politics

[1:43] Tell us a bit more about Street Entrepreneurs. Where did the idea come from?
·       Community driven accelerator
·       Put together programs for entrepreneurs
·       Provides workshops on topics

[3:15] How did you get funding for a nonprofit business?
·       Called everyone and asked for donations

[3:47] Is this your full time job? How do you make money doing this?
·       It’s a start up for other start ups
·       Does consulting on the side to pay for living expenses

[4:8] Looking back, what is one thing you wish you knew when starting a business?
·       Having a co-founder would have made it easier

[4:48] What are some of the programs or services that Street Entrepreneurs offers?
·       Covers 8 topics
·       From innovation to marketing
·       Topic 3- Marketing in December 2017

[5:26] Who can qualify?
·       Anyone
·       Must have a lot of drive

[6:13] Can you tell us more about the Community Pitch Event?
·       Entrepreneurs pitch their ideas
·       Broadcasted through Facebook live
·       Community and audience can invest/ donate

[6:44] What are some of the workshops that you offer? How can listeners know when they are offered? How much do they cost?
·       All workshops are on the website: StreetEntrepreneurs.org
·       Income based tickets

[7:49] Is there any other support for entrepreneurs at Street Entrepreneurs?
·       Talent Exchange

[13:05] Chain of Wealth – Awesome gadget guide for the holidays, check out Katie’s top recommendations.

If you’re enjoying this podcast, don’t forget to subscribe, rate and review!

[9:30] Why do you think people fail at achieving their dreams?
·       I don’t know if I can answer that question
·       People pivot their direction

[10:54] What other books or podcasts do you recommend?
·       Podcast- iTunes University
·       Stanford course- How to start a start up
·       50-minute history

[11:59] What is your favorite quote?
·       It’s a terrible thing to wait in life until you’re ready
[13:20] How can listeners get in touch with you?
·       Website: Streetentrepreneurs.org
[13:35] Any last advice?
·       There is no one way to be successful