I started listening to the Bigger Pockets Money Podcast towards the beginning of 2020. I listened to this episode on Sunday June 21, 2020. Happy Father’s Day to me.
The focus of creating this article is to track my thoughts and reviews of each episode. My memory sucks so having a place on this blog to keep my notes was perfect.
Highlights
I like to listen to the full episode and then write what sticks out for me. There is always a lot of useful information and discussion that occurs during the show, but the following bullet points are what sticks out for me.
- Talk about money as early as you can. The concepts and principles may not apply to a 3 year old or a 6 year old. But they will remember or reflect on this when they are older.
- The difference between income as a teacher vs. income as a business owner. Story of saving receipts.
- What’s the next best step. Start where you can. Start with a $1 if that is all you have. Put a daily deposit to your goal every day. If that means watching a video to improve your education, or listening to a podcast to improve your education then start there.
Famous 4
Question. What is your favorite finance book:
Answer: Smart Woman Finish Rich
During her first appearance her answer was Automatic Millionaire by David Bach.
Question. What is the biggest mistake people make in teaching their kids about money/finance?
Answer: Teaching from a place of fear.
Question: What is your best piece of advise just starting out?
Answer: Simple & Soon; split your paycheck into separate accounts, bills account, checking account, emergency account, long term account. Setup a system of various account so all you need is to track your personal spending account or debit account.
Question: What is your favorite joke to tell at parties?
Answer: How does a penguin build its house? It glues it together.
Review
Tiffany is a delight to listen to. Full of energy and a David Bach fan. I have Automatic Millionaire in my personal library collection. I read this many years ago, but would like to revisit it again with my current situation.
