Money Rules Don't Rule

We update listeners about some upcoming changes to the show.  Tune in!

And, a bit of info about Estate Plans: if you have assets, you have an estate. If you have an estate, you need a plan for it.

What is Microlending?  It was pioneered in developing countries as small loans at low interest rates.  Access to credit was now available to everyone, not just those with unblemished records.  Our guest today is Aanish Shamim, a Microloan Processor at Economic Opportunity, a program of Jannus in Boise, Idaho.  The EO Program provides access to credit to support financial resilience, especially when on hard times. Join us as we take a closer look at this largely unknown resource and how it's working to bolster communities.

Talking about money is hard!  In the early stages of a relationship, talking about money and your habits and expectations around it can be as helpful in deciding compatibility with someone as your shared interests.  In the middle stages, figuring out who manages daily finances can be a solo or shared task, while at end of life, knowing where the money is or having someone who can help you navigate that when a spouse dies can be immensely helpful.  In short, money is a part of our relationships, all of our days!

Tune in to find out what our current household money conversations are about, and tricks we've learned to help us roll with the waves.

Lifestyle Creep is sneaky! It’s natural to increase your spending as your income rises. After all, we work hard to buy and do the things we love in life. However, when higher spending happens mindlessly, rather than intentionally, it becomes problematic.

Lifestyle creep easily shows up in large purchases, like a home or nicer car, but it also materializes with smaller price tags, like eating out, buying more expensive clothing, or subscription services. It doesn’t happen overnight, so lifestyle creep can really "creep" up on you if you’re not intentionally keeping an eye out for it. To limit subscription spending, TrueBill is an example of a resource to help mange this.

We also explore how, "living paycheck to paycheck" means something different to everyone.

An entrepreneur is someone who undertakes a project, typically one that requires effort. Most people have thought about being an entrepreneur at some time or another. In fact, nearly 71% of Americans said they'd rather be self-employed than be an employee (yet only 7% are self-employed!).

There's no right way to be an entrepreneur, but if you have an idea, are willing to take a risk, and put in the work to usher it through to the end, then you can be an entrepreneur. 

Sources include:

https://20somethingfinance.com/self-employment-poll/

Humans are naturally wired to be terrible investors. Think about it…more often than not, our brain tells us to seek comfort and to avoid pain. While that tendency has helped us survive since the Stone Age, it's also a vital reason why we inevitably struggle to consistently make sound investment decisions.

Understanding how our mind can help or hinder our chances of investment success is critically important for every investor.

Ryan Rourke is your host's younger brother, and in today's episode they talk about what they learned about money while growing up in the same household, how to manage the adult-dynamic with siblings when money is involved, and how siblings can come together to help get their parents through their end of life.  In short: it's tricky!

'Tis the season to give, so why not think about a gift that keeps on giving and provides a long-term benefit? 

In this podcast, we discuss five ideas to give the gift of money and financial well-being this Holiday season.

Dr. Marie Rice, PhD, CFE, CIA is an Assistant Professor at Siena College with nearly 20 years of experience as an anti-fraud and audit professional. Join us as we push through less than ideal audio conditions and explore fraud and the reasons why it happens. We also identify resources that both employers and individuals can lean on for support through difficult times (particularly, Employee Assistance Programs). Fraud has far reaching consequences that perpetrators don't always realize, often including the loss of their most precious relationships.    

Dr. Rice can be reached at [email protected]

While saving is important to take care of your present needs and desires, investing is important for your future choices and goals. And with time being a limited resource, compounding is the secret to success. Join us as we talk about the difference between saving and investing, why it's critical to conduct your due diligence when making any investment, and why there's never been an easier time to invest than now.