Midday Money Show

Buying a timeshare is right up there with the dumb things we did to accumulate debt. Of course, we didn't pay cash. We finance the initial cost - $7500. The escalating maintenance fees and poorly managed property made this a miserable decision to make in 20 minutes on a vacation. Yes, timeshares are a waste of time and resources. 

I don't mind sharing my mistakes with money because I know that I've learned valuable lessons. Lessons which have made me smarter with money, more confident in my ability to manage money, and interested in learning all that I can to improve my success with money in the future. Suffering in silence because we're afraid to admit what we don't know will only hold you back. Learn from my money mistakes. Realize you are not alone!

This week, we're looking at mistakes with money and how we have recovered and learned to do better moving forward. We've all made mistakes. Mistakes with money in the past do not define you.

This week, I'll be sharing how I've learned from my money mistakes. To kick off the conversation, here's a blast from the past. 5 common money mistakes and how we can do better.    

A great question from Joanne M. in East Africa. This question - and the answer - are relevant across all international boundaries.

Negative self-talk can wreak havoc on your ability to stay focused on a debt-free goal. Protecting your mental fortitude is vital. We can talk ourselves out of success and stay stuck in a state of overwhelm simply by letting negative thoughts take over. I have a simple trick to help you get over this hump.  You got this!

When facing daunting tasks or setting stretch goals, fear can slow us down. On this "I have a Word" Wednesday, I will share something that helps me stay upbeat in the face of a challenge or the great unknown. Complete with a cheesy kid's bob tune (I really like it - I'm into cheese), this Midday Money Show Minute will encourage you to face down fear with a powerful tool in your toolbox.

Retired US Navy General, Navy Seal, and University of Texas chancellor broke the Internet (I guess) when he suggested his #1 tip for helping to change the world was to make your bed.   Hmm??? So mom was right??? From his lips to our ears, the Navy man says this little tip can revolutionize the way we get things done. Maybe it is the little things...

If I can do one thing, it's getting myself back on track. Why? Because I've had plenty of experience. Becoming overwhelmed may be a fact of life for anyone who endeavors to attempt anything meaningful. Staying stuck in that place is not a requirement.  I'm talking to you from a very personal place because it relates directly to staying focused on getting out of debt. You'll be successful because you don't give up. I believe that because I've lived it. As I take on new challenges, I hope you can receive encouragement to get back on track or rev up your progress if the energy fades.

If you're living from paycheck to paycheck, putting money aside for savings might seem like a pipe dream. This podcast, originally recorded in 2011 when I had co-hosts, covers tried and true tips for generating extra cash. We need to look no further than the ant as we figure out how to pad a saving's stash before an emergency strikes.   Also, if you want to know what Osama bin Laden can teach us about the need to save, I apparently went there.

Happy New Year.   Yes, we're a month into 2018. Are you still going strong focusing on your financial goals for the year? If not, check out the new format and get quick tips for staying focused on your goals all year long. Let's make 2018 the year of remarkable success.

Elle Martinez is running an excellent flash sale. Get free access to her course with the purchase of her recent book, Jumpstart Your Marriage and Your Money.

I speak with my good buddy, Aja McClanahan (Principles of Increase) about how she frugals out on Christmas. Magnify Money found that the average person intends to add $1000 in credit card debt this year. Wow! Not necessary. I'm talking about how to avoid the debt and stress so you can celebrate Christmas without taking any new debt into 2018. Also, join me on December 9, 2017, for the Captial One Cafe Savings Scavenger Hunt to win $500. Another way you can have a debt-free Christmas.

Scott and Bethany Palmer have a combined 50 years of experience working with couples and money. They on a mission to reduce the divorce rate by helping couples work through the fights and stress caused by money. We talk about money personalities. Knowing yours and learning how to relate to someone with a different money personality just might save your marriage. Don't fall into this category: 70% of couples divorce due to money fights. Working efficiently with your spouse where money is concerned in a learned skill. The Money Couple has tips to get back on the same page.

Maarten Van Lier makes his home in Milwaukee, but he traveled from the Netherlands to find the American Dream. In 2000, Maarten’s co-worker made a side comment that started the ball rolling on Maarten’s 13-year journey to millionaire status. This mild-mannered, salaried employee & his wife drew a line in the sand. They wanted to be millionaires in 10 years and he joins us today to describe exactly how they did it. Show notes for this episode. If $200/month extra would make a difference in your debt dumping progress, let me help you find it. Sign up for a free consultation. Disclaimer: Maarten Van Lier is not a financial advisor or expert. All information provided is based on his specific situation and offered for information and motivational purposes only. You should seek advice from a licensed investment professional for custom feedback on your specific situation.

I sat down with Jamila Suffront of Journey to Launch and Aja McClanahan or Principles of Increase initially at FinCon, but I needed to re-connect with these women on a mission to learn more about their intentional plans to reach financial independence. We discuss: How they became aware of intentional financial independence The mindset needed to make FIRE a realistic goal What changes are needed in the black community to make FIRE take hold and change the project wealth trends on the horizon Links to all resources are available at DebtFreeDivas.org

Tanya Van Court lost millions in the stock market when the Dot Com Bubble in 2001. This engineer with two degrees tells how she was too embarrassed to admit she needed financial help. When her 9 year old asked for help to get a investment account, Tanya decided to help other children develop similar goals. She turned a devastating financial experience into an app that helps parents raise money smart children. GoalSetter.co teaches children to save for priorities and redirects parents (and loved ones)out of the guilt trap of over-giving. Teaching youngsters the healthy habits - early - of goal setting and working towards that goal are lessons that will take them far. This new app provides a platform to help you raise money smart children.

Whitney Hansen shares an amazing story of knocking out a financial goal. She paid off $30,000 10 months after graduating from college - without parental help.

Anita Dhake has taken her plan for financial independence from concept to reality. It started – of course – with paying off debt. That has to be the number 1 priority - financially speaking. As you enjoy Anita’s story, think about what your plan is. Do you have it clearly defined? Not like ours was in the past - “someday I want to be a millionaire”. But have you figured out what it will take to reach your goals. If you are dumping debt right now. Keep pushing. If not, there's no time like the present.

A simple tweak that could save you thousands.