In this episode, Jim Oliver and Nick Kosko discuss: 

• How to be your own banker 
• How much one should spend on a certain category with their finances  
• Being fluent in the concept prior to understanding the minute details 
• Understanding the nuances of rates and interest  

  

Key Takeaways: 

• The all American family has the ability to be their own banker  
• After tax money should be spent on 20% on transportation 30% on housing 45% on standard living, finance them by paying cash for them 
• If you don't save minimum of 10%, statistically will end up using government assistance 
• The volume of interest is what matters, the rate is the distractor  

  

"It's the volume of interest that matters" —  Nick Kosko 

  

Connect with Nick Kosko: 

  

Facebook:  Nick Kosko  

LinkedIn:Nick Kosko  

  

Connect with Jim Oliver: 

  

Facebook: CreateTailwind & Jim Oliver 

Website: CreateTailwind.com 

YouTube: createtailwind.com 

LinkedIn: Jim Oliver 

  

  

Show notes by Podcastologist: Chelsea Taylor-Sturkie 

  

Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.  

 

Jacquelynn Nguyen