Through the Storm

Have you ever felt overwhelmed and as if you don't have enough time? Today we're going to look at the book "Essentialism" by Greg Mckeown and discuss how to have a systematic approach to determining our highest priorities. Today we'll focus on exploring as many options as possible and then have a strict filter for what sticks.

Links

Show Notes

Wirecutter.com

Essentialism book (affiliate)

Millionaire Next Door podcast episode

Up Next

Next week we'll dive deeper into the book "Essentialism" and discuss the principles of committing and creating a buffer and how it applies to your budget and investing decisions.

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So many people say they don't have the time to read, but what does that really mean? We all have more time than we realize and this episode addresses some strategies for reading more books.

Outline

• Getting rid of all your goofy, made-up rules
• Create a plan
• Partner with others
• Take good notes
• Financial applications

Links

The One Thing book (affiliate link)

The One Thing Couples Goal Setting Retreat Guide

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Do you understand the brain? Have you ever wondered how to teach your kids about money? Are you interested in rewiring your brain to reroute you away from those bad financial and health decisions? In this episode, we'll talk about the book "Seven and a Half Lessons About the Brain" and how you can take these lessons about the brain and apply them to your personal finances.

Takeaways

• Takeaway #1 - Little brains wire themselves to their world, so we need to be intentional about teach them about money.
• Takeaway #2 - Your brain predicts what you do, so we need to rewire our brains by pre-planning our money steps.

Links

Show Notes

Buy the book (affiliate link)

Seven and a Half Lessons website

Next Up

Next week we'll talk about why you should read more books.

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Dave Ramsey is a big personality in the personal finance space. He is know for his baby steps and "gazelle" intensity in getting rid of debt. In today's episode, we did a joint podcast with The Financial Dads where we discuss our experiences with Dave. We discuss what we agree with, what we disagree with, and how our philosophies differ.

Outline

• Dave's Baby Steps
• Emergency funds
• Credit Cards
• Investing rate of returns

Links

Show Notes

Dave Ramsey's Total Money Makeover (affiliate)

The Financial Dads Podcast

The Financial Dads Facebook

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Building habits is hard. When relying on motivation and willpower, lapses can create frustration and make it hard to establish a habit. By looking at the book Tiny Habits by BJ Fogg, we can use behavioral design principles to create better money habits.

Takeaways

• Takeaway #1 [07:24] - Design better habits by understanding the anatomy of a tiny habit.
• Takeaway #2 [15:41] - Understand the BMAP model and how we can use it to "lower the bar" in habit creation.
• Takeaway #3 [25:59] - Use the After I ____, I will ____ statement to add tiny habits onto already established routines.

Links

Show Notes

Buy the book (affiliate link)

Tiny Habits recipe maker webpage

Tiny Habits resource page

Next Up

Next week we'll talk about the book "Seven and a Half Lessons About the Brain" by Lisa Feldman Barrett and how we can reroute our brain towards better financial decisions.

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We are constantly distracted in all phases of our lives. Whether it be your phone notifications, interruptions at work, or getting sucked into the social media app feed loop, we all have weaknesses for something that can take us away from what we really want. Through the book Indistractable, we'll learn how to reduce distractions and turn that into traction towards fulfilling the money goals we have.

Takeaways

• Takeaway #1 [09:16] - We need to understand the root causes of distraction.
• Takeaway #2 [13:57] - Thinking differently about our internal triggers and apply the 10-minute rule to fight them.
• Takeaway #3 [21:59] - Know what you're being distracted from by timeboxing.

Financial Applications

1. Take time to examine the root causes of your money mistakes [25:31]
2. Implement the 10-minute rule to better manage your spending [30:57]

Links

Show Notes

Buy the book (affiliate link)

Indistractable bonuses (after purchase)

Next Up

Next week we'll talk about the book "Tiny Habits" and how you can create 'After I ____, I will ____' statements to improve your personal financial outcomes.

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The classic book "The Millionaire Next Door" explores 7 common factors between the millionaires around us. We all have our perceptions of what a millionaire looks like, but this perception is not accurate! We'll explore 3 takeaways and 3 applications to your financial life to get you closer to becoming the millionaire next door yourself.

Takeaways

• Takeaway #1 [08:41] - Living well below your means. This is accomplished "playing great defense", having a budget, and planning for the future.
• Takeaway #2 [15:36] - Allocate your time, energy, and money in ways that are conducive to building wealth
• Takeaway #3 [25:03] - Raise children who are independent and do not provide "economic outpaitent care."

Financial Applications

1. Choose a field [33:14]
2. Save 20% of your income [34:14]
3. Put together a plan [36:14]

Links

Show Notes

Buy the book (affiliate link)

Indexology Exhibit 1: Most will underperform the market average

SPIVA: 2020 Active vs Passive Scorecard

Financial Samurai: Active vs Passive performance

Barrons: Hedge Fund performance

Next Up

Next week we'll talk about the book Indistractable and how you can stop getting distracted from your money goals!

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“The most important investment you can make is in yourself.” - Warren Buffet

Learning from those smarter than you is a key to financial success and these 5 books should help you get one step closer to a better financial future.

Outline

1. The Psychology of Money by Morgan Housel [03:35]
2. The Millionaire Next Door by Thomas Stanley & William Danko [08:31]
3. I Will Teach You To Be Rich by Ramit Sethi [10:42]
4. Essentialism by Greg McKeown & Effortless[15:13]
5. Soundtracks by Jon Acuff [19:17]

Links (some affiliate links)

The Psychology of Money book

Psychology of Money Article

The Millionaire Next Door book

I Will Teach You To Be Rich book

Essentialism book

Effortless book

Soundtracks book

Next Up

Next week we'll look at the book The Millionaire Next Door.

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Have you ever let a day slip by and only completed your small tasks without ever getting to the big problem you needed to address? Have you ever struggled to focus and get settled in once you're ready to work? Make Time is a book with the tagline "How to focus on what matters every day". This is a book I have read more than anything besides the Bible! In this episode, we will look at 2 key takeaways from the book and then find financial applications for your life.

Outline

• Takeaway #1 [07:57] - Abolish "infinity pools" to set times and spaces
• Takeaway #2 [14:30] - Managing your email
• Financial Application [22:33] - Start a "someday" fund

Links

Show Notes

Buy the book (affiliate link)

Make Time Blog

Bonus Chapter (mention I brought you!)

Next Up

Next week we'll talk about 5 recommended books for your summer reading list!

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At one point or another we've all been overwhelmed with our personal finances and unsure what decisions to make. This podcast aims to help you distill the information and deep dive into your personal finances. This episode is an introduction into what you can expect and the behind the podcast.

Outline

• Why called Delve into Money [04:00]
• About Me [8:23]

Links

Podcast website

Contact the show

Next Up

Listen next to the launch episode, which is about the book "Make Time". We discuss how to better focus on what matters each day and creating a someday fund to create breathing room in your financial life. Listen here!

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