The speaker reflects on the impact of a book they read on personal finance and investing. At the time, they had little knowledge in these areas and made financial mistakes such as taking on consumer debt and buying an expensive car. They emphasize the importance of starting with a mindset focused on buying assets and avoiding liabilities. Their biggest money mistake was buying a foreign car with negative equity, but they eventually paid it off. They stress the value of learning financial lessons early on.
Robert Leonard chats with Aaron Nannini about ways to wisely manage your money and the importance of having a proper mindset for wealth-building.
IN THIS EPISODE, YOU’LL LEARN:
00:00 - Intro
03:06 - Why behavior and mindset are so important when it comes to money.
04:42 - What value-based spending is and how it can help with balancing the YOLO and future-thinking mindsets.
06:07 - What “keeping up with the Joneses” means and why you shouldn’t do it.
10:57 - How to fight back against lifestyle creep.
12:53 - How to avoid or get out of the paycheck-to-paycheck cycle.
14:16 - What the difference is between bad debt and good debt.
19:04 - How to get out of bad debt and leverage good debt.
22:37 - If one should use or avoid credit cards and how to appropriately use them.
34:08 - What silent killers are in terms of money.
40:54 - What the shocking cost of cars is and the myths of car loans.
48:25 - How to successfully manage money with one’s partner and avoid divorce.
And much, much more!
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
BOOKS AND RESOURCES
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