Mindful Money 016: Matthew - Knowledge Today, Wealth Tomorrow
Jonathan welcomes Matthew from the Time Value Millionaire Blog to the show to discuss the FIRE Movement, side hustles, and how Matthew turned a passion for personal finance and data into a passive income stream. Matthew is currently 13.2% financially independent and today he talks about why money shouldn’t be taboo, explains Time Value Money and shares how anyone can take control of their situation and start earning more today.
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Key Takeaways
01:09 – Jonathan introduces today’s guest, Matthew from the Time Value Millionaire Blog, who joins the show to share his career trajectory and his goal to shift money from a taboo topic to something we talk about openly
09:49 – The FIRE (Financial Independence, Retire Early) Movement
16:45 – Why side hustles are crucial
20:57 – What Matthew has learned from running his business
23:30 – The origin story of the Time Value Millionaire Blog
28:35 – Tips and best practices for launching a blog
31:08 – How Matthew measures success
35:36 – Tools that are key to Matthew’s success
45:02 – Playing in the ‘Google Sandbox’ and turning blogs into revenue
51:22 – Ads, affiliate marketing, and other sources of revenue
56:14 – The Time Value Money, explained
1:01:46 – The last thing Matthew changed his mind about and one thing that he would like people to know about him
1:06:37 – Jonathan thanks Matthew for joining the show and let’s listeners know where to follow him
Tweetable Quotes
“I guess the big lesson I learned from childhood was that talking about money shouldn’t bet a boo.”(04:33)
“The whole idea behind financial independence is building the life you want and then saving for it.” (10:45)
“A ‘Time Millionaire,’ as I define it, is someone who measures their wealth in terms of how much free time you have to do whatever you want.” (14:57)
“I think that’s the biggest thing is just always having the long term in mind. And, if you do that you’ll always win as long as you’re consistently executing.” (23:19)
“You’re totally right. Whether it’s Dungeons and Dragons or beekeeping, there’s always something that people are searching for. It doesn’t matter what topic. As long as you’re passionate about it and you like writing about it, you’re good to go.” (42:01)
“I think that’s the other business model that a lot of people can pursue, which is developing your own products and selling them directly to your readers.” (55:43)
“So, it’s really doing the due diligence on our part to understand what our specific data is telling us, using those historical averages from reputable websites to understand what we can expect. And then plugging the formula into a calculator and we get a realistic number on what we need to achieve our goal.” (1:01:05)
Guest Resources
Mindful Money Resources
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