Paychecks & Balances | Personal Finance & Career Advice for Millennials

College is a time when young adults are faced with real money management for the first time in their lives. They’re trying to pay rent, pay bills, buy books and have some fun a long the way. Debt can pile up quickly. Such was the case for Steven Hughes, the interview subject for this episode. After signing up for multiple credit cards from on campus lenders he found himself in a debt hole he thought he would never get out of. In this episode you’ll hear Steven’s story on how he climbed his way out of debt and eventually founded Know Money , a financial education company. Steven founded Know Money to help millennial’s avoid the same money mistakes he made and to help young adults talk, think and interact with money differently. He’s a nationally Certified Financial Education Instructor and manages all of the programs for the Know Money team. Highlights: Financial mistakes in college Predatory lending on college campuses Side gigs for young adults Salary expectation vs. salary reality for new graduates The transferrable skills from a job in sales The new reality of the gig economy Delayed gratification Having a “Why” Action cures all Key Takeaway: Figure out where your money is going each month and educate yourself about how credit works. When you have questions, don’t be afraid to reach out for help. Paychecks & Balances Website:                                                

Today’s episode is all about fresh starts. We’re a week into the New Year and the guys are shifting their energy to focus on new personal, career and podcast goals. These aren’t New Years Resolutions, they’re intentions. In this episode Rich and Marcus recap 2018 and share some big things they’ll be working on in 2019, especially, making more money. Highlights: Getting out of debt is a marathon not a sprint Debt Cycles – Going in and out of debt can be an on going process Household money management vs. Single money management Having goals to hit vs. hitting every goal Your “walk away from your day job” number Using the “Digit” mobile app Being accustom to a lifestyle and your non negotiable’s Having a side hustle in this “gig economy” Doing some market research on your skill set Feeling comfortable promoting your business/side projects Moving at your own pace in your career and personal life Key Takeaway: Determine the direction you want to take your career and personal life and be very intentional about your choices and where you put your energy. Build that business, start that exercise routine, launch that idea. Take control of your decisions and go in a direction that makes sense for YOU.   Paychecks & Balances Website:                                          

People often criticize others for the way they were brought up. This often diminishes the journey one takes to get to where they are today. In today’s episode you’ll hear Bola Sokunbi’s journey, as she joins Rich and Marcus on the podcast. Bola is the founder of Clever Girl Finance. Clever Girl Finance is a financial education platform aimed at providing women with financial guidance that will inspire them to pursue and achieve their dreams of financial independence. Bola also has the claim to fame of saving 100k in 3 years while living on an average salary. In this episode you’ll hear Bola’s story and learn why her families background motivated her to make the most of her college education and not take for granted any of the opportunities her hard working mother was able to provide for her. Highlights: Don’t take for granted the sacrifices your family makes for you. Living lean and saving half of each paycheck. The importance of earning extra money through a side hustle. Credit card predators on college campuses. Teaching young girls to be financially independent as they grow up. Doing the best you can with the hand you’re dealt. The glorification of the struggle. The emotions of money Key Takeaway: Embrace and appreciate the wins of others, don’t glorify one’s struggle as being worth more or worth less. It doesn’t matter where you’ve been or how you got there, focus on where you’re going today and tomorrow. Paychecks & Balances Website:                                        

Leigh Phillips joins Marcus on the podcast today. She is from EARN.org. EARN is a national, award-winning nonprofit. They work at the intersection of financial technology and economic inclusion to empower low-income Americans to take charge of their financial lives. In this episode you’ll hear Leigh Phillips explain how earn can help you get your finances in order and how you can win prizes by saving with “SaverLife”, an EARN program. Highlights: One in four Americans can’t afford an unexpected $400 expense without going into debt. Feeling in control of your money for your family. Automatic transfers to savings accounts. Building an emergency fund. Accomplishing savings goals to build personal confidence. Money problems for people of different levels of income. Inconsistency in income and expenses for Freelancers. Key Takeaway: Start with small savings goals to build personal confidence. Take advantage of automatic transfers from your checking account to your savings account. Also, build that emergency fund. Paychecks & Balances Website:                                      

Setting your kids up for financial success is the goal of every parent. In order to do this you need a strategy and you have to start early. Today on the podcast Rich and Marcus interview Tanya Van Court. Tanya is the founder of Goalsetter, the best platform for helping kids and families save money for things that are important to them. Before launching Goalsetter, Tanya spent years in Corporate America launching products for ESPN, Nickelodeon and Discovery Education. She’s been recognized by numerous publications and has reached thousands of parents and kids across the country. In this episode you’ll hear Tanya’s story and gain some insight on how to climb the corporate ladder, how to launch a business and how to educate and impact your child’s life through saving, investing and teaching them how to become financial literate from a young age. Highlights: The need to stress education to your family members. Launching ESPN 3 and Nick Jr.com Corporate American as a great training facility for inspiring entrepreneurs. The connections you make in Corporate America lead to connections in your personal business. Hallway Reputations. Networking at work events, interacting with executives and leaders. Finding the right mentor who can help boost your career. Taking less pay for potential future gain. Selling your personal brand. If you build it they will come. Diversifying your investments. Key Takeaway: Seek out mentors, build your personal brand and network with the people in your company that matter. Paychecks & Balances Website: