I've never found a place where people talk about money to be so hilarious and entertaining, yet also informative at the same time! Penge was featured on this podcast last month (read - "they have great taste in guests".) Check out my conversation with Joe to see why you should take a look at this podcast.
1) So what is Stacking Benjamins?
At Stacking Benjamins we want to be the gateway drug for people who are afraid of personal finance. Shows are light and fun specifically to show you how fun and empowering this topic can be that so many people find onerous and boring.
Hopefully, we'll introduce you to people and companies who can help you go deeper into whatever your goals are and accelerate your journey down your path. The entire show is based on the science of play. I know that people learn best when we think we're learning nothing. We're attracted to things that are fun. For that reason, our show isn't a good fit for people who are looking for the "last word" in finance. That's not our role. We shine a light on people and companies who want that role.
2) What do you think is the biggest myth people believe about personal finance?
I think people get hung up on the math of personal finance.
They hear finance, immediately think numbers, and then think "boring" and "difficult." On a Stacking Benjamins interview a couple of years ago with the co-author of Rich Dad Poor Dad, Sharon Lechter said that numbers tell a story, and once you realize that it's a fun, powerful story, a whole new exciting world opens up to you.
Numbers tell a story.
For that reason I feel like part of my job is teaching people that the math is fun. We do that by kinda hiding the hard stuff in fun analogies and examples. When I was a kid I hated math but liked story problems. We emulate that approach.
3) What's something small that people can start doing today that will positively impact their future financially?
Hide money from yourself. Set up a bank account across town that you don't have access to easily (cut up the debit card) and then direct deposit money directly to it. Because we're lazy at heart most people will become amazingly creative to avoid driving across town.
Hide money from yourself.
4) What made you interested in personal finance?
I always thought that those people on TV sharing tips about coupons, leveling your utility bills, and correctly inflating your tires were really cool. I wanted to learn what they knew....hacks and secrets.
When I became a financial advisor at first the world was commission only and I was forced by my company to spend time shoving permanent life insurance and mutual funds with high fees down people's throat. It was depressing. when I made my job more congruent with my beliefs and got back to "secrets and hacks" it became fun again.
5) Parting piece of advice for readers?
You're going to fall off of the path toward your goals. If you remember that you won't get frustrated when bad things happen. You'll continue to surround yourself with people, books, podcasts, whatever that empower you to keep seeking to do better!
Great money habits aren't a sprint, they're a marathon.
6) Where should readers go if they want to learn more about you?
Head to http://stackingbenjamins.com for BOTH of our podcasts, Stacking Benjamins (the variety show) and Money in the Morning (focused solely on interpreting financial headlines...what does it mean to me?). You can also hear them both wherever you listen to podcasts!