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Ep 7-Credit Score or Cash…Which Do You Choose? #MoneyMythBusters (Part 1)
"The Heart of Money" podcast, hosted by Austin, began a four-part series called "Money Mythbusters" with its seventh episode. The aim of the series is to dispel common myths, misconceptions, and misinformation about money that hampers individual financial freedom. In the discussed episode, Austin and guest Bob challenge the myth that a good credit score is essential for financial success, arguing instead that having enough cash and a clear track record of financial responsibility can allow successful financial navigation. They encourage young listeners to start saving early and to look into institutions offering manual underwriting services or alternatives to relying on credit scores. The next episode's topic will spotlight tax refunds.
Ep 6-Are Your Friends Holding You Back From Winning?
During an episode of the Heart of Money podcast, Austin and Bob discuss the powerful influence of mindset on financial achievement. They emphasize the importance of having a disciplined, consistent mindset towards money and holding a clear perspective of opportunity costs, especially when incurring debts. The speakers also highlight the value of long-term financial planning and working diligently against short-term gratification. Importance of establishing a budget is also covered. They further caution against relying on unpredictable income sources like lotteries, emphasizing instead on strategic money management and conscious control of spending patterns. The speakers conclude by underlining the freedom and control brought by positive thinking, discipline, and supportive social surroundings.
Ep 5-How Your View of Money Will Dictate Your Financial Success (Part 2)
On the "Heart of Money" podcast, hosts Austin Black and Bob discuss the influence of money on personal and societal behavior, drawing from personal experiences. They concern themselves with the prevalent consumerist attitude and the habit of comparing oneself to others on the basis of material possessions. The hosts reiterate that money is merely a tool and should not be the source of happiness, often pointing out flawed consumer practices such as living paycheck to paycheck and incurring debt for purchases. They encourage listeners to make wise financial decisions, reminding them that contentment and financial peace come from within and not through impressing others.
Ep 4-How Your View of Money Will Dictate Your Financial Success (Part 1)
In the fourth episode of the Heart of Money podcast, hosts Austin Black and Bob Wessler highlighted different viewpoints people have about money's role and purpose. Some perceive it as a tool or an opportunity, while others see it as just an object. They emphasized the importance of understanding how money works in order to make informed decisions for personal and family benefit. The hosts stressed the necessity of financial planning, budgeting, and responsible decision-making during investing. They also highlighted the importance of managing personal finances wisely, and that financial decisions should cater to personal situations, future planning, and individual contentment instead of societal pressures. They underscored the need for foresight in spending, citing the example of overpaying for a rented box. The episode concluded with a preview of the next discussion about consumer attitude and spending habits. The hosts also promoted an upcoming free financial training webinar.
Ep 3 – 20 Years and 2 Marriages Later…This is What I Learned (Part 2)
In today's episode, we focus on Bob's financial journey and his experiences over the past 20 years. Bob reflects on his background, including how money was viewed in his family and the influence of both frugality and financial knowledge from extended family members. He shares insights into his financial habits, including budgeting and tracking expenses since a young age, as well as the importance of being on the same page with his spouse regarding finances. We discuss the breaking points that lead individuals and couples to seek financial guidance and the significance of having a clear financial plan. The conversation emphasizes the importance of learning from mistakes, seeking help when needed, and understanding that financial struggles are common and not insurmountable.
Ep 2 – 20 Years and 2 Marriages Later…This is What I Learned (Part 1)
Bob shares his personal journey with money management, discussing how financial struggles can significantly impact relationships, leading to divorce if not addressed. He reflects on the importance of financial education, acknowledging his own lack of understanding and highlighting the value of programs like financial peace courses in navigating financial challenges. Bob also describes the evolution of his money mindset, from initial financial difficulties to embracing a more prudent approach, leading to greater stability in his current marriage. Through his story, Bob highlights the importance of addressing financial issues proactively and the transformative power of financial education in shaping one's financial future.