September 01, 2020

Learning How to Stack Benjamins | Joe Saul-Sehy

1 hour 6 minutes

Today’s episode features Joe Saul-Sehy from Stacking Benjamins.

Before creating a massively popular podcast, Joe made a lot of money mistakes.

This all came to a clash when he was working as a financial advisor, owned his own business, and still could barely get the money to get home.

Now Joe is bringing finances into so many homes via a unique comedic angle.

Listen, learn, and let us know what you think about this awesome episode!

Episode Summary

Joe’s Background

Joe was in high school and remembers seeing news specials on money-saving tips

He also got inspired by the movie Wall Street

But it took Joe a long time to actually put it into practice

His parents pushed him to work hard but money was taboo

Making Money Missteps

On his first day at college, Joe spots a long line at an American Express Credit Card table

He talks about blowing money at the mall and fancy meals at Ruby Tuesday for his friends

Then things get real when he gets a bill and his parents refuse to help him

His credit was destroyed and the interest started building

Even in his professional life, he thought he had an earning issue, not a spending issue

But we know from famous athletes that a spending problem will always overcome earnings

Joe started earning more money with his own business but kept racking up debt

Keep in mind, his business was as a financial advisor

The breaking moment is when he has no money or credit to buy gas to get home

Joe had to dig for change in his seats just to get home

Turning Things Around

Joe realized he needed to “hide money” from himself

This meant automating money to go into separate accounts that he didn’t see

He also realized that he couldn’t go cold turkey

Joe gave himself an allowance so he could buy some of those entertainment items

He said it’s important to not be too restrictive or else you’ll relapse

Entrepreneurial Journey

Joe says he’s a bad employee

He would always clash with a boss

Joe admits he also wasn’t a great boss at first

He might hire people too much like him

Or spout off ideas through the day not thinking his employees would take that as direction

Starting Stacking Benjamins

Joe sold his business at age 40

This was inspired by a colleague who walked away because it wasn’t fulfilling

That person, Chris, stepped away to go climb mountains across the world

Chris would then go on to start an adventure travel company

Inspired by this, Joe decides to go back to school to become a teacher/coach

He realized quickly that it wasn’t for him

So Joe starts dabbling in a blog and creates the Stacking Benjamins podcast

He wanted to take the unique angle of comedy

They took it really seriously and even would attend comedy classes

Pulling From Others

Joe recommends the book by Austin Kleon – Think like an artist

He really recommends people look at others in their industry and pull all the best parts

It was actually a car podcast that was hilarious to him that inspired the Stacking Benjamin theme

Joe says he actually wants a finance show where no one learns a thing about money

In reality, people learn a lot but it doesn’t feel like a class

He would go on to pull from a board game podcast, car podcast, and even a little kids podcast

Key Takeaways

Imposter Syndrome: Joe was a financial advisor but still struggled to follow his own advice. We all need help on this journey.

Let Others Inspire You: Don’t feel guilty about taking takes from others as long as it isn’t inspiration.

Call to Action

Change, assess, repeat. Start to source ideas from others and try them out. Don’t just be stagnant!

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Joe’s Information

Website / Podcast: Stacking Benjamins

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By Cody Berman and Justin Taylor

4.8

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