25 Years of Paying Attention, Not Interest: Where Did That Get Us?
Money Plan SOS
It's been 15 years since the launch of this podcast, and 25 years since my wife and I started doing life together. A lot has changed in 25 years! In this episode, I share: How compounding has made my wife & I millionaires despite crashes How we qualified for a big honkin’ mortgage on only my self-employed income and WITHOUT a traditional credit score or manual underwriting And the 1 thing I should have done better For full show notes and resources mentioned, go to
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The BEST (and worst) of the Money Plan SOS Podcast
Money Plan SOS
Welcome! If you are new to the Money Plan SOS podcast then sit back. I’ll share with you the 20 best episodes, 10 “staple” episodes, and the 13 worst episodes. I also share my journey through money over the past two decades. The full show notes are at
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What People Learned About Money By Blogging About Money
Money Plan SOS
#200: The MoneyPlan SOS podcast is now retired with this final episode. It was recorded LIVE at FinCon15 with nine bloggers who learned about money while blogging about money. In this final episode, nine financial bloggers answer the question, "Have you learned anything about money since blogging about money?" Eric Rosenberg (Narrow Bridge Media) Emily Guy Birken (Wisebread, Book: 5 Years Before You Retire) Katie Austin (Writes for ActiveHours.com) Todd Tresidder (FinancialMentor.com) Stefanie O’Connell (The Broke and Beautiful Life) Athena Lent (Being Fabulous Has No Price Tag) Miranda...
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Is Tithing Mandatory? Chris Brown from True Stewardship on Giving a Tithe
Money Plan SOS
#199: Is tithing mandatory for Christians? Chris Brown and I discuss this to get to the root of the problem - which has little to do with ten percent. Chris Brown has been a pastor for several years, speaking to congregations and audiences all over the United States. In this episode, Chris and I tackle this touchy subject of tithing: What is a tithe? Who is called to give a tithe? What about the "Old Testament vs New Testament" argument around giving a tithe? Are we asked to give a tithe based on the gross or net of our paychecks? Full show notes at Connect with Chris Brown online: ...
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The 8 Great Mistakes of Investing. Also, Fractional Savings Accounts
Money Plan SOS
#198: OG (aka The Other Guy from Stacking Benjamins) joins me to share the 8 Great Mistakes in Investing Full show notes at The 8 Great Mistakes of Investing are: Under-diversification Over-diversification Euphoria Panic Leverage Speculating Investing for yield and not total return Cost basis dictating decision Thanks to OG for coming over. You can find him at http://StackingBenjamins.com - my favorite podcast. Also mentioned in this episode: The Great Beanie Baby Bubble by Zac Bissonnette. Amazing stuff! Here's the Stacking...
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Matt Ham has Redefined Rich
Money Plan SOS
#197: Matt Ham is an author, speaker, and small business owner. Five words uttered by a nurse changed the way he looks at life - and inspired him to redefine rich. Full notes with links at Takeaways from this interview: It’s not how much you give - it’s how you give it () We shouldn’t feel guilty to spend and, surprisingly enough, we feel richer when we give. Whole Life Matters Podcast: __________________________________ 3 important things to remember when buying a car This post first appeared on Transportation is the third largest budgeting...
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The Ins-and-Outs of Robo-Investing - Interview with Jon Stein
Money Plan SOS
#196: Jon Stein from Betterment and I discuss robo-advisors, why Betterment is so different, and what it takes to open an account. Use to receive 30 days FEE FREE investing at Betterment Full show notes at _______________________________________ M.J. Cossel wrote in about an article she read in the Dallas Morning News: Bad credit score can double insurance premiums in Texas My response: Yes. Poor credit scores equal higher insurance premiums - but that’s only one consequence of not paying bills and debts on time. Make it a priority today to get your checkbook...
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Less Taxes, More Money In Your Paycheck - Running a mid-year tax return can improve your cashflow
Money Plan SOS
#195: Do you know why stories of people with $.32 refund checks are in the news? Because they are so rare! Most people want to get a big tax refund. Getting a huge refund is an extremely inefficient use of money - both for you and for the government. I recommend adjusting your withholding so you can bring more money home and put it towards your goals: High-interest rate debt Building up reserves Saving or investing Run a mid-year income tax assessment Making course corrections in August helps steer your tax withholdings closer to the target - which is to owe nothing or get a small...
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Ace Chapman Says Skip The Startup and Buy a Business
Money Plan SOS
#194: Although he has an entrepreneur’s heart, Ace doesn’t believe anybody should start their own business. It is much easier and profitable to buy an existing business, improve it, and sell it for a profit.
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What You Need To Know About Self-Directed IRA's
Money Plan SOS
#193: Many people are being lured by the attractiveness of directing their own retirement plans. The trick is to do it right and have an asset, business, or income-producing entity that makes sense for YOUR retirement planning. Kirk Chisholm is a Wealth Manager, Economist, & Principal at IAG. He is also an expert of investing in alternative investments in self-directed IRA / 401k. Full notes at Key takeaways from our discussion: Self-directed IRAs are a great arrangements for making non-traditional items become tax-deferred investments There is no guidance for what you...
info_outline#192: Kai used to be responsible for staffing at a firm. She knows first-hand what companies use to check on an applicant's background. While a company may check credit reports, they do not review credit scores.
Once again, this is proof that the bare minimum to succeed in America is to simply pay your bills and debts on time.
If you don't have any debts and don't have credit cards, you won't have a credit score. However, you will have a clean credit report - or no information for a credit report to be built upon.
This does not prevent you from getting a job.
UPDATE: My wife and I paid off our last debt, the home mortgage, in December 2015. Within 2 years, I no longer had a credit score. Does that mean I couldn't get a traditional job in corporate America? Of course not! Let my story be your testimony. Spend more time on your personal finances and less time trying to build your credit.
In our conversation we discuss:
- Why Americans allow themselves to become trapped in debt
- How much responsibility do we place on the education system to teach children and young adults about financial literacy
- The truth about employers pulling credit scores or credit reports
- The 5 Dangers of Buying Cheap and “Splaving”
For full notes, visit https://moneyplansos.com/splaving-and-do-employers-check-credit-scores-interview-with-kai-yaniz