Listen Money Matters - Free your inner financial badass. All the stuff you should know about personal finance.

Knowing and understanding your personality type can help in lots of areas of life.  Everything from choosing a job to saving money.  What type are you?The MBTI, or Myers-Briggs Type Indicator is not one of those Buzzfeed quizzes that tells you which Disney Princess you are.  This test is science-based and has been in use since the 1940’s. There are no right or wrong answers.  There are sixteen personality types on the MBTI scale.  The answers just indicate your preferences, how you perceive the world around you, and how you make decisions.  There is some bleed over between types.   Maybe you’re an extrovert in one on one situations but more introverted when faced with large groups. Show Notes Influence: The Science and Practice:  The book Andrew referenced. Mint:  The easy way to track your spending. 16 Personalities:  Take the test!   Learn more about your ad choices. Visit megaphone.fm/adchoices

Ever failed hard?  Not stumbled, but lost everything level of failure.  How can you begin to recover when you are at rock bottom? Most of us probably won’t hit homeless on the street levels of rock bottom but some of us will have to start over. A new city, a new job, an entirely new career.  Where do you begin when you’re back at square one?Full ArticleShow NotesOld Dominion Brewing Company Dominion Lager: A crisp, light lager.Tallgrass Brewing Company Buffalo Sweat Vanilla Bean:  A creamy oatmeal stout. Learn more about your ad choices. Visit megaphone.fm/adchoices

College costs have skyrocketed over the last several years.  So unless you want to graduate with crippling debt, you’ll need a college job. Ideally you would spend four years with no obligation other than to study (and party) but not working while in college is not possible for many of us. Thomas is our resident college expert and his first suggestion is to carefully consider the cost of your chosen college.  It’s not longer realistic to attend the best college you can get into.  Not if that college is tens of thousands of dollars more expensive than a second tier choice. Full Article HereShow NotesCollege Info Geek:  Thomas's site to help you get the most from your college experience.Debt Free College Grad:  Our episode on paying for college with grants and scholarships.Shanice Miller:  Thomas's interview with the debt-free college grad.Earnest:  If you already have student debt, Earnest can help you refinance. Learn more about your ad choices. Visit megaphone.fm/adchoices

Used properly, a credit card can have all sorts of benefits. Used improperly, it can drag you into bankruptcy.  A credit card can be a blessing or a curse. Some people refuse even to touch one. But if you know how to use one, it is a tool like anything else. Full Article HereShow NotesTallgrass Brewing Buffalo Sweat:  A sweet, oatmeal cream stout.Credit Karma:  Get your credit score for free.Extra Pack of Peanuts:  Learn how to churn airline miles.LMM How to Improve Your Credit Score:  Hacks to boost your score fast.LMM Best Travel Cards: If you want free flights and hotels, these are the best cards. Learn more about your ad choices. Visit megaphone.fm/adchoices

We talk a lot about side hustles on the show.  Today we’ll discuss if you should start your own side business. A side business can be lucrative and the creative outlet that your 9-5 job isn’t.  But it can be a lot of work and time.  We’ll break it down so you can decide if it’s the right decision for you. Both Andrew and Thomas have had various side hustles.  In fact, Thomas’s site College Info Geek, which is now his full time job, started as a side hustle.  That won’t be the case for all of us, but you can still make some extra cash doing your own thing. Client work side hustles can be lucrative but frustrating.  You have to create someone else’s vision no matter how crappy or ridiculous you think it might be.  Sensitive artist types might want to stay away from client based hustles. A side business shouldn’t be solely about the money.  It should enable you to do something you love doing.  Making money on that is a bonus. It takes about a year and a half to start making money on a side business.  Do you love doing whatever it is enough to do it for free for that long? How much time do you have?  If you’re watching TV for a few hours a night, you could use that time to start building something.  If you work, are in school, and have a family, your side business may have to wait. We want to know what kind of side business you have in mind and what you want to know about starting one.  Leave questions in the comments or send an email to listenmoneymatters@gmail.com. Show Notes Hitachino Nest Beer:  A white ale. Backpocket Brewing Penny Whistle:  A Bavarian ale. College Info Geek:  Thomas’s info on starting a website. Earnest:  Refinance your student loans and save some money. Learn more about your ad choices. Visit megaphone.fm/adchoices

Looking for a job can be a full time job itself.  Today we interview Adrian Larssen to learn how to take control of the job hunt process. Searching for a job sucks but there are ways to make it easier and to feel like you have some control of the process.  Adrian works for The Muse which can help you in your quest.Full Article Here Show Notes The Muse:  Let them help with your job hunt. 31 Most Common Interview Questions:  And how to answer them! Betterment:  The smart way to invest.   Learn more about your ad choices. Visit megaphone.fm/adchoices

We love answering the questions you all send in. Today we have five questions about IPO stock price, a morning routine, what we wish we knew earlier, where to save a downpayment, and early retirement.Show NotesBoulder Beer Winter IPA:  A full-bodied red ale.Buffalo Sweat Oatmeal Cream Stout:  A smooth, dark beer.Mint:  The easy way to manage your money.Betterment:  The smart way to invest. Learn more about your ad choices. Visit megaphone.fm/adchoices

There is nothing wrong with starting small.  If you can't quite make the big change, make a little change. You'll get there eventually. Building habits is important but big changes can be daunting.  Our guest, Stephen Guise will tell us how mini habits can be just as good as big habits.Show NotesBoulder Beer Hazed and Infused:  A dry hopped ale.Mini Habits:  Smaller habits, bigger results.Mini Habits Video Course: Stephen's video series.Deep Existence:  Stephen's blog dedicated to personal growth. Learn more about your ad choices. Visit megaphone.fm/adchoices

Today is Part 2 of our delve into Thomas’s financial life.  There wasn’t much to critique in Part 1.  Will Part 2 also make the rest of us feel like losers? At just 23 Thomas is doing better than many of us a decade or more older.  Let’s see if he’s make any mistakes Andrew can help correct.  (I like Thomas so I’m slightly ashamed of this but I hope he’s made at least one, tiny mistake.) While it’s impressive that Thomas makes about $69,000 a year, he pays more in taxes because he’s self employed than he would if he made the same salary as an employee.  If you want some advice on small business taxes, check out our recent episode with Johnny Horta. Thomas still lives in Ames, Iowa where he attended college.  He has three roommates and pays $320 a month in rent.  He spends a lot on food, both groceries and eating out.  Part of that is just wanting to get out of the house since he works from home. Last year Thomas saved $500 a month into Vanguard and $500 a month into Simple IRA.  His goal is to “retire” by age 40.  He wants to save $900,000 and live off 4% or $36,000 a year.  He needs to save $25,000 a year with 5% growth to reach that number by age 40.  So double what he did last year. Aha!  Investing is where Thomas needs some guidance.  Thomas started with the Vanguard Star fund which has returned about 15% over the last five years.  If he moved to the Total Stock Market Fund, that number would be closer to 20%.  There is the 5% growth he was looking for without doing anything other than switching funds! If Andrew were 23 again, he would put 50% into the Total Stock Market Fund, 10% into REIT’s, 10% into emerging markets, and leave 30% in Betterment with an eye toward using that for “opportunity buys” like when a Tesla caught fire and the stock was cheap. Most of Thomas’s bills are paid automatically.  Rent and Simple are the only things that he has to remember to pay and Simple could be automated once he figures out how to allocate it. Thomas is going really well, especially for one so young.  But he’s proof that we all can use a little help in various areas of our life.  That’s what LMM is here for! Show Notes Mint:  The easy way to track your spending. Betterment:  The smart way to invest. Learn more about your ad choices. Visit megaphone.fm/adchoices

We are advocates of automating your finances and that includes automating saving money. But we don’t want saving to crimp your style. That’s why we love Digit. You can automate saving using Digit. We interview Ethan Bloch the CEO of Digit to learn how to automate saving without feeling it in your wallet.Full Article Here Learn more about your ad choices. Visit megaphone.fm/adchoices