Save Like Dave Podcast

Most of us are average.  It's just a statement of fact.In this episode, Dave is going to discuss what being in the middle looks like - financially speaking, and then shares suggestions that you can implement into your life to be better than average. Being average in America is all too common. We quickly spend as much as we make, and lifestyle inflation creeps in when we do end up making more money. The point of this podcast and our hope for you is to become better than average.Here, Dave discusses the 10 key things that hold people back and which keep them stuck in average.As with every podcast, Dave gives some practical tips to become better than average.Take what you hear and apply it to your life so that you can win with money!Take these ‘suggestions' seriously. Begin this week to practice some of these ideas and you will win with money.Questions for Review:Do you consider yourself average financially speaking?Do you have enough money in the bank account to cover a financial emergency?What 1 thing from the episode can you do to get outside your comfort zone and become better than average?Verse From the Episode: "Whoever despises the word brings destruction on himself, but he who reveres the commandment will be rewarded." -Proverbs 13:13

Today, Dave will share 10 ways to save an extra $400 a month.  Sounds impossible?  Well, listen in and learn how you can do it too!Now these 10 things that are shared should be taken as a whole. In other words, if you apply several of these ideas, you can get to the savings goal you want to reach.  Most are little things that when taken as a whole will allow you to win... And, there's even a couple that if you apply it you can save even much more than the $400 monthly.So let's get started!Questions for Review:After listening to the episode, does saving $400 a month sound doable to you?How would your life change if you were able to save at least $400/month?What 1 of the 10 ideas can you go out and implement today?Verse From the Episode: "As for the rich in this present age, charge them not to be haughty, nor to set their hopes on the uncertainty of riches, but on God, who richly provides us with everything to enjoy. They are to do good, to be rich in good works, to be generous and ready to share, thus storing up treasure for themselves as a good foundation for the future, so that they may take hold of that which is truly life." - 1 Timothy 6:17-19

What is a 1031 Exchange Anyway?Today Dave is going to share what I consider the 2nd best gift the US government has given us to win with money.It's a bit more complicated than other methods of winning with money that I've discussed prior, however, it's such a good one, Dave will explain what it is and how it can help you keep more of your money!  Now that's worth listening to right?I don't know of anyone who wants to pay more in taxes than they have to. The 1031 exchange is an incredible way to defer your taxes, and in some cases never pay taxes on your appreciation of the assets that you own.The long-term savings can be HUGE.Throughout your lifetime, as you accumulate properties, you can upgrade them significantly and completely defer or never pay tax on them!Questions for Review:Do you now feel like you better understand what a 1031 exchange is?How can using a 1031 exchange allow you to build wealth over time?Is a 1031 exchange something you feel like you can personally take advantage of?Verse From the Episode: "The rich rule over the poor, and the borrower is a slave to the lender." -Proverbs 22:7

Is there such a thing as good debt?In Dave's opinion, not all debt is considered "bad" debt.Good debt is viewed as taking on debt that benefits your life. This debt is a way to create wealth by leverage… a mortgage for a house will build equity, for example.  Bad debt, on the other hand, does just the opposite. It's a burden, a weight on your shoulders, and unlike most home purchases, bad debt almost always goes down in value over time.Good debt is a type of debt that can potentially provide long-term financial gains and enhance your overall financial situation. It typically involves borrowing money for investments or purchases that have the potential to increase in value (key to winning with money) or generate income over time.That said, it's crucial to manage debt responsibly and within your means to avoid financial stress or negative consequences.Questions for Review: Do you have any "good" debt? In what ways can you look at your future differently by looking at debt as both good and bad?  Verse From the Episode: “Suppose one of you wants to build a tower. Won't you first sit down and estimate the cost to see if you have enough money to complete it?” -Luke 14:28

Over one-third of adults in the United States reported that they would not be able to cover a $400 emergency expense without borrowing money or selling assets (Federal Reserve Survey). This suggests that as people's incomes rise, they often tend to increase their spending on non-essential items and experiences, leaving them financially vulnerable in the face of unexpected financial challenges.In this episode, Dave will be sharing some examples and, more importantly, how to NOT get caught up in lifestyle inflation.Lifestyle inflation, also known as "lifestyle creep" is a phenomenon where an individual's spending gradually increases as their income rises. It can have significant negative effects on your long-term financial well-being.Trust me, the longer you spend more than you make, the longer it will be before you retire. Honestly, lifestyle inflation or lifestyle creep is common to most people. But YOU are NOT most people.YOU are unique, ONE of a KIND.Starting today, be different in this one regard, be different with your money... That includes living below your means and not following the crowd in your personal finances. If you do that you're going to succeed with money.Questions for Review: Have you suffered from lifestyle inflation as you've started to earn more money? Do you spend more than you make? If so, please think twice before making that next big purchase. How can you live life enjoying your resources without spending more than you make? Verse From the Episode: "A faithful man will abound with blessings, but whoever hastens to be rich will not go unpunished." -Proverbs 28:20

Sadly, just this week, Charlie Munger passed away.He almost made it to 100!In this Podcast, Dave shares 8 practical tips from the famed investor Charlie Munger.Munger was both straightforward and brilliant at the same time. We can ALL learn a thing or two about money from this wise man.Even though Munger had reached billionaire status and was a longtime friend and coworker of Warren Buffet, Munger still maintained a frugal, down-to-earth lifestyle.Listen in as you will learn a lot from Munger in this exciting episode.Questions for Review: What of the 8 ways to win with money did you find most applicable to you? What of the 8 ways are most difficult for you? Apply one new thing from the episode this week. Verse From the Episode: "Do not lay up for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal, but lay up for yourselves treasures in heaven, where neither moth nor rust destroys and where thieves do not break in and steal." -Matthew 6:19-20

In this episode, Dave is going to share 8 key daily habits that can help you change your life, including one focused on winning in personal finance.  How many of these 8 habits do you follow?Listen in and see how many of these 8 habits you currently possess and see if there are any others that you can begin implementing to start improving your life.As you begin to follow these 8 daily habits your life will start to change in a positive way. It won't happen overnight, but little by little you will be chipping away at the things that are holding you back from success.Likewise, building good money management habits can significantly impact your financial well-being and help you work towards winning with money.Lastly, by looking at the big picture in regard to your overall quality of life, you just might find that your finances will follow suit.Questions for Review: After listening to the 8 key habits, is there an area that we discussed that you just aren't winning? Are you burning the candle at both ends and feeling exhausted? If so, what can you do to relieve that burden and make a change? What is 1 habit you can start doing OR stop doing today to have better success personally and professionally? Verse From the Episode: "Lazy hands make for poverty, but diligent hands bring wealth. He who gathers crops in summer is a prudent son, but he who sleeps during harvest is a disgraceful son." -Proverbs 10:4-5

The average American spends 10 minutes or less per day reading!Even more, 27% of adults in the US didn't read a book in 2018. As you can see reading has become a low priority for many Americans - I hope you're not one of them!  Today, Dave is going to share 5 books that he hopes will excite you about personal finance.When Dave was beginning his financial journey he read hardbound books.Today there are many other ways to expand your knowledge - from books of course, but also by listening to podcasts, online courses, lectures, and college classes. Learning about personal finance is crucial for anyone to develop a strong foundation for growing and managing their money effectively.Listen carefully and see if there is one of these 5 books that clicks for you and get to work!Questions for Review: What medium do you find most helpful when learning about personal finance? Is it audio, video, or the written word? What one book of the 5 most interests you? How can you maintain a focus on continuous learning and growth in your own personal finance journey? Quote From the Podcast: "The more that you read, the more things you will know. The more that you learn, the more places you'll go." —Dr. Seuss

Only 1 in 10 lower-income workers between the ages of 51 and 64 have ANY money saved for retirement!That means 9 out of 10 lower-income workers have nothing to show for all their hard work. Think about that for a minute. This is an incredible statistic that we want to avoid at all costs. On today's podcast, Dave shares 5 common money fails, plus 5 ways you can think differently to WIN with money!  Dave is going to share the top reasons why some people have zero money saved for retirement and, of course, how you can reverse that.Remember, saving money for retirement is like planting seeds in a garden.The earlier you start and the more you take care of it, the bigger and better your garden will be when you're ready to stop working!Questions for Review: Can you identify with any of these common money fails? Which of the 5 solutions to win with money do you need to start doing? Are you happy with where you are in terms of saving for retirement? If not, what can you do to kickstart that into gear? Verse From the Episode: "On the first day of every week, each of you is to put something aside and store it up, as he may prosper, so that there will be no collecting when I come." -1 Corinthians 16:2

The Bible has a lot to say about money. More than half of Jesus' parables have to do with money and possessions.If you are a Christian, it certainly is not something to be taken lightly. If you are not a Christian, then perhaps these verses don't have as much significance to you.That said, whether you believe them or not, these 5 verses provide timeless, practical advice for anyone to win with money.Listen in as Dave provides 5 more bible verses on how you can succeed financially and in life.After listening, if there is a verse that makes sense to you, write it down, memorize it, and then apply it to your life! Do that and you will be on your way to win with money!Questions for Review: Did any of the 5 bible verses strike a chord with you? In what ways could you begin to live your life generously financially and/or with your time? Verse From the Episode: "Precious treasure and oil are in a wise man's dwelling, but a foolish man devours it." -Proverbs 21:20

16 out of 38 of Jesus' parables deal with money and possessions.  Nearly 25% of the words Jesus spoke in the New Testament deal with biblical stewardship and 1 out of 10 verses in the Gospels deal with money.In this Podcast episode, Dave is briefly going to share 5 verses about money from the bible. These are timeless statements from the Bible that I believe will help you to win with money - regardless of where you are spiritually. I think you will see that these verses, from over thousands of years, are just as relevant today as when they were once written.Personally, I don't like being preached at and I doubt you do either, so my goal today is to not do that on the episode. I will simply share the verse, and give you my take.Questions For Review: Do you use the bible as a source of wisdom and truth in your life? What 1 verse from the 5 did you find most relatable or impactful? Verse From the Episode: "Wealth gained hastily will dwindle, but whoever gathers little by little will increase it." -Proverbs 13:11

What does it mean to have a satisfied mind?In this episode, Dave is going to share how having balance or, you could say having ‘A Satisfied Mind' can make all the difference in your journey financially speaking. Dave shares how your passions, relationships, and personal growth all contribute to living a good life.Remember, the pursuit of wealth should never come at the expense of your mental and emotional well-being or the things that truly matter to you. Join us on the episode, as we explore the key principles and practices that can help you achieve both financial well-being and a satisfying life.We hope you come away with a clearer sense of what you need to work on to live a more balanced and enjoyable life.Questions for Review: What does a satisfied mind or satisfied life look like to you? Write it down and reread it from time to time to keep yourself on course.   Do you feel like you have a good balance between financial success and personal/relational success? What one thing can you start doing or stop doing today to have a more satisfied life? Quote From the Podcast (Song): "How many times have you heard someone sayIf I had his money I'd do things my wayHmm, but little they knowHmm, it's so hard to findOne rich man in ten with a satisfied mind"-Bob Dylan

Did you know that being frugal comes with some incredible advantages? Today, we'll explore some of the best frugal examples from the life of one of the world's most renowned investors - Warren Buffett!For instance, did you know that Warren Buffett still lives in the same modest house in Omaha, Nebraska, that he purchased in 1958 for $31,500?Despite his immense wealth, Buffett prefers to drive an old Cadillac instead of a luxury car.In doing research on Buffett I came to realize that he is just a regular person. He's just like us in many ways.  What does that have to do with you?Our world may be different from Warren Buffett's in some ways but not all ways.We can learn from him and apply that knowledge to winning with money as it fits our own individual family's situation, just like he has done.Find the balance between frugality and enjoying life and you will win with money.Questions for Review: Does being frugal sound boring to you? How can you make saving exciting? Do you find yourself always looking for the next new gadget, or having the latest fashion item? What one thing from Warren Buffett can you take away and do differently? Verse From the Episode: "The wise store up choice food and olive oil, but fools gulp theirs down." -Proverbs 21:20

Early retirement sounds great in theory, but have you ever thought through all the increasing risks of running out of funds? Additionally, retiring early may result in a loss of social connections and a sense of purpose, potentially impacting mental and emotional well-being. This is something Dave knows all too well. In this episode, Dave is going to go a bit more in-depth on this subject of retiring early as he weighs both the good with the bad.It's important to consider all possible options before taking social security. Taking the benefits early is PERMANENT!  That said, if you have become a student of personal finance, and are practicing some of the key lessons I've shared over the past year or so, YOU will win with money and YOU will have a really good retirement!Questions for Review:  Are you hoping to retire early? Have you considered when you might want to start taking social security? What would an ideal life look like for you when you do choose to retire? Verse From the Episode: "The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty." -Proverbs 21:5

In our opinion, the Roth IRA is the best available retirement product for every American.When planning for your future, where else can you get tax-free withdrawals in retirement with long-term tax advantages? In this episode, Dave presents 5 great reasons to open a Roth IRA today (and start contributing) so that you can start winning with money.There are a bunch of tax advantages that we discuss in the episode. In addition, it's flexible and accessible unlike many other popular retirement products out there.If you haven't created a Roth IRA yet or perhaps you aren't really sure what exactly it is, make sure to give this a listen.After listening, let us know. Are you convinced? Is the Roth IRA the best retirement product available today?Questions For Review: Do you meet the requirements to invest in a Roth IRA? If so, what's holding you back from starting a Roth IRA? Do you feel like you have a better grasp of the pros and cons of a Roth IRA? Verse From the Episode: "Go to the ant, you sluggard; consider its ways and be wise! It has no commander, no overseer or ruler, yet it stores its provisions in summer and gathers its food at harvest." -Proverbs 6:6-8

Dave is going to touch on 10 things that separate the rich from the poor.No shame here, just a little knowledge for you to dissect on your way to winning with money. For instance, individuals with higher levels of education tend to have higher earning potential and access to better job opportunities.It's important to note that financial success is influenced by various factors, including personal circumstances, industry trends, market conditions, and individual choices and behaviors.That said, don't get too caught up on all those factors.Focus on YOU and what YOU can do now to win with money.Questions For Review: How many of the 10 things that Dave mentioned do you currently possess? Is your current lifestyle setting you up to live a rich life down the road or a poor one? What 1 thing can you focus on from what Dave taught on? Verse From the Episode: "Whoever is generous to the poor lends to the Lord, and he will repay him for his deed." -Proverbs 19:17

Welcome to this lesson on becoming a better financial investor. In this episode, Dave is going to share 6 key things that you will need to do to become a great financial investor.Investing can be a powerful tool to build wealth and achieve financial goals, but it requires knowledge, discipline, and a well-thought-out strategy.Today's podcast will cover some essential principles and strategies to help you improve your financial investing skills while leaving you with lots of practical takeaways.Remember, investing is all about making informed decisions and staying focused on the big picture. Best of luck on your investing journey!Questions for Review: How many of the 6 points Dave mentioned on the podcast do you feel solid on? What's 1 that you can focus on? Do you feel like a smart, calculated investor that is on track to win with money? If not, what can you do to get more knowledgable? Verse From the Episode: "Honor the Lord with your wealth and with the firstfruits of all your produce; then your barns will be filled with plenty, and your vats will be bursting with wine." -Proverbs 3:9-10

Excellence is never an accident. It is always the result of high intention, sincere effort, and intelligent execution. It represents the wise choice of many alternatives.Today, Dave is going down a different path in the sense that he's going to cover more of the psychology of why we make decisions and how to make better ones."Choice, not chance, determines your destiny." -Aristotle.YOU will not achieve your money goals by accident or by ‘chance'.  YOU will achieve those goals as a result of a written plan, educating yourself on the subject of money and hard work. YOU will have many choices in life and some of those choices can move you closer to your goal or further away. Make the wise choice of the many alternatives.  Chose to become a lifelong saver and investor.That one decision will allow you to break the cycle of always being in debt and never getting ahead. It will change your life for the better... forever!Questions for Review: Do you consider the success in your life a result of chance or do you consider it a result of many positive choices (along with some luck along the way)? What choices are you holding off making which are hindering you from your future success? Quote From the Episode: "Excellence is never an accident. It is always the result of high intention, sincere effort, and intelligent execution; it represents the wise choice of many alternatives - choice, not chance, determines your destiny."  -Aristotle

Attention Millennials - have you ever thought about winning the lottery?  Now don't act like you haven't. I know you have… everyone has.Today, Dave is going to talk about the greatest wealth transfer in history.Baby boomer parents are set to leave their millennial children $68 trillion!But, hold on to your horses because Dave has a little more to add to the story and why you'd be prudent to save for your future anyway.If you are planning to receive an inheritance or hoping to leave one, this is an episode you won't want to miss!Questions for Review: Are you hoping to either receive or leave an inheritance? Have you considered some things that may or may not lessen the total value of the inheritance? What can you do today to not rely on receiving an inheritance? Verse From the Episode: "Dishonest money dwindles away, but whoever gathers money little by little makes it grow." -Proverbs 13:11

Don't let the government decide for you where YOUR money goes.Today, Dave is going to share some important thoughts on what you need to do to best protect your assets when you pass on because you can't take them with you.You are going to learn the basics of why it's important to set up a will or a trust and also what it means to set a beneficiary or executor.Dave simplifies the whole process in this episode.If you've been a good steward with your money in life… let's finish well and have a plan for where it will go when you pass.Remember, you can't take it with you. However, YOU can make your family's life a whole lot easier when it comes time to complete your estate. Take the time now to get organized and do the needed steps on your estate. They will all be very appreciative!Questions for Review: Are you okay with the government deciding what to do with your money? Have you set up a will or a trust for the unfortunate scenario of you passing unexpectantly? If you have set it up, when was the last time you reviewed it? Have things changed a bit in the last few years or should they stay the same? Verse From the Episode: "I tell you the truth, those who listen to my message and believe in God who sent me have eternal life. They will never be condemned for their sins, but they have already passed from death into life." -John 5:24

Money makes money, and the money that money makes... makes more money.Albert Einstein once said that "compound interest is the eighth wonder of the world."This being a personal finance podcast, Dave thought it might be a good idea to talk about this subject in a bit more depth.Learn all about the amazing effects of compound interest in this week's podcast episode.Dave simplifies this confounding topic with a plethora of easy-to-follow examples. It's an episode you won't want to miss!By the power of compound interest and time, you will win with money.Questions for Review: Do you feel like you better understand compound interest now? Did the results of investing for 20 years vs. 30 years surprise you? What 1 thing can you do today to get started in saving and investing for your future? Quote From the Episode: “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn't … pays it.” -Albert Einstein

How much money should I put toward individual stocks? Is it okay to invest in my favorite company?Make sure to toon into this week's episode as Dave is going to share a remarkable story that brings to light the pitfalls of putting too much of your cash into one stock.If you've spent any time learning how the stock market works you probably have heard of this advice and it's a wise one: Diversify.  As with just about everything in life you need to have a balance. In the episode, Dave provides a simple rule of thumb to follow when investing in individual stocks so that you can sleep comfortably at night.It's important to set the guidelines now before you get too emotional about one particular stock or company.Questions for Review: Have you set up a diversified portfolio? Are you too heavily invested in one particular stock? If so, what can you do to spread out your risk? Take time today or work with the right person to make sure you have setup a diversified portfolio. Quote From the Episode: "Life is about balance. Be kind, but don't let people abuse you. Trust, but don't be deceived. Be content, but never stop improving yourself." -Zig Ziglar

One survey I read said that just ¼ of kids 13-21 actually learn from their parents.  Only about 1 in 4 of the children are getting any solid financial education from their parentals! Today, we want to discuss a topic that is near and dear to our hearts and that is to help people become savers and not just spenders.  More specifically, we are going to talk about how you can raise your children, or others in your life to be successful financially by developing smart financial habits.Changing your little human from a consumer to a saver is a serious business and it will take time and work on your part, but it will also be so, so rewarding.By taking the time to teach them age-appropriate lessons on money they will learn to be savers and not just spenders.Learn more on this week's episode.Questions for Review: Did you learn to become a saver growing up? If saving was fun, what would it look like? What things could you do to teach your kids to learn and enjoy savings? Verse From the Episode: "A faithful man will abound with blessings, But whoever hastens to be rich will not go unpunished." -Proverbs 28:20

Dave is going to dig deep on the subject of kids and money so that if you have kids or have a connection to kids and want to get them off on the right foot, financially speaking, come along for a listen.Now I know everyone's story is different.Sadly, financially speaking, many kids these days are not being taught anything about personal finance, and guess what, when they get older they tend to continue to make the same poor financial mistakes they did as kids.A poll by ING Direct found that 87% of teens know little to nothing about how to manage money.  The majority that do learn something, learn it from their parents, but around 12% said they've not had any parental guidance handling their finances. This week's podcast is an encouragement to any parent or teacher out there to take the time to teach your kids the basics of personal finance so that they will win with money and in life!I can almost guarantee that your kids will enjoy the subject and it will help shape their financial destiny for a lifetime. The longer you wait to teach your children to be good stewards of their financial resources the harder it is to instill good habits.Questions for Review: Do you feel confident enough to teach kids on the basics of personal finance? If the answer to the above question is no, what can you do to increase your knowledge and confidence on the subject of money? Are there kids in your life (in any capacity) that you can impact in a positive way by teaching them about personal finance? Verse From the Episode: "Start children off on the way they should go, and even when they are old they will not turn from it." -Proverbs 22:6

Are you house-rich and cash-poor?Find out on this week's episode...Did you know that those who delay gratification are more self-motivated and more able to face future obstacles or challenges when they come?Delaying a reward can be hard at the time but the rewards for waiting will outweigh the initial disappointment you may have. Today, Dave is going to speak on a common problem many of us have and that is the desire to have it all, and have it now. Unfortunately, that desire from a financial perspective will derail your future financial success 100% of the time.  Listen to what he has to say and how you can correct the problem on this very important episode.Applying this delayed gratification principle to your life will help you win with money. Without it, unfortunately, you will forever be cash-strapped and not able to move the needle financially speaking. Questions for Review: Is delaying gratification something you struggle with? Do you find yourself in a situation where you are house-rich and cash poor? Or perhaps, car rich and cash poor? What one thing can you cut out or cut back on to put more money towards a savings account or pay down debt? Verse from the Episode: “Whoever loves pleasure will be a poor man; he who loves wine and oil will not be rich.” -Proverbs 17:21

In this episode, you will learn some practical tips that will help you to keep your ‘financial house' in order. Personally, Dave has implemented all these tips and they have taken the stress out of that part of his life.  For instance, do you find that every year around tax time you start to feel your blood pressure rise and you stress out more than normal?...You have to go find all those receipts and go through those bank statements and so forth.Well, you can minimize all this by getting those things organized.Getting your financial house in order will do 2 things for you.  First, it will allow you to easily find those important documents when needed and not have to go all over the house to find them and 2nd, having this process in place will give you financial peace. As you gain wealth, it can get a bit complicated, so it is imperative to have a process in place to win in this area.Questions for Review: Do you feel like your financial house is in order? Do you have trouble staying on track with important physical documents? What is one thing that you can do to get more organized financially? Verse From the Episode: "But all things should be done decently and in order." -1 Corinthians 14:40

Today, Dave will give you 10 specific things you can do to win with money... And along the way, you may very well become a millionaire!Dave receives emails asking for advice on finances on a regular basis and he is always happy to respond.  He's so encouraged that you all are choosing to change your financial habits and win with money

These past couple of years have been hard on all of us.  With a worldwide virus raging throughout the world, many lives were lost, millions had to change how they worked, and many others lost their jobs completely as we all experienced a once-in-a-century phenomenon.With that gigantic disruption, many experienced final loss and disruption to their normal way of life - financially speaking.Today, I want to hit the ‘reset button' and touch on some key points in your personal finance toolbox.  I want you to take a look at your financial situation and if you've taken a left turn over the past couple of years, maybe because of necessity, this podcast may be just what is needed to get you back on track.For instance, are your financial investments giving the return you need for your retirement?Is it time to rebalance your portfolio or maybe change your traditional IRA to a ROTH IRA?Carve out some time this week and focus on 1 of each of these 6 items every day for the next 6 days. These are very important to your financial health so you will need to take a bit more time on them. However, over time you will reap the benefits and - WIN WITH MONEY!Questions For Review: Did you take some time to review the 3 items from last week's episode? If not, go back and listen to part 1 of the getting your financial house in order 2-part series. Of the 6 points mentioned, what do you struggle with most? What one thing from the episode can you implement right now to help you get on track with money? Verse From the Episode: "I studied it all carefully from the beginning. Then I decided to write it down for you in an organized way." -Luke 1:3

Do you have your financial house in order?Unfortunately, only 27% of Americans have a financial plan. Let's hope you are better than the majority.In this Podcast episode, Dave discusses 3 things you can do right now to get your financial house in order.All three are essential if you want to win with money.For instance, you can't progress financially and live at peace if you are constantly getting into debt and paying high-interest payments.Not getting out of debt is a surefire way to lose with money.Dave goes into detail on this topic and has a couple more to consider in this important episode.Carve out some time this week to make sure you are on track to win with money.Questions for Review: Do you feel like you have your financial house in order? Are you struggling to get out of debt? If so, what can be done to move out of it? Are there any subscriptions you can cut out or cut back on to put towards savings or debt? Quote From the Episode: “How wonderful it is that nobody need wait a single moment before starting to improve the world.” -Anne Frank

So you think you can put off saving for retirement because Dad and Mom have already told you that they will leave it ALL to you when they're gone?Or maybe you're really close to a RICH UNCLE… or AUNT. You just know there's something coming your way…Well, maybe it's time to think twice.Listen in on this episode as Dave has lots of important things to consider before you put all your faith in your ship coming in.As always, we want you to be in charge of your money and not rely on someone else.The stats show that only 20% of Americans receive an inheritance.So will you be part of that group?  Maybe, maybe not. Dave is going to delve into this topic a bit further and he might surprise you with his perspective on inheritances.Questions for Review: Are you counting on a future inheritance as part of your retirement? How can you shift your thinking from counting on someone else for your future [inheritance] to things that you can control [automatically saving and investing]? What steps can you take today to make sure you are on track for your retirement? Verse From the Episode: "And let the peace that comes from Christ rule in your hearts. For as members of one body you are called to live in peace. And always be thankful." - Colossians 3:15

75% of Americans live paycheck to paycheck! Just 25% of all people make a budget and plan their finances. Today Dave is going to talk about the subject of making a budget and WHY it's SO important in helping you win with money.In this episode, we want to share some really good reasons to have a budget and hopefully, by the end of the episode, YOU will be on board with us and decide once and for all to begin a budget.If you do, I promise, YOU will win with money! Budgeting is a tool to allow you to be in control of your finances. It will allow you to make it through the month every month and not be on pins and needles every time. With a budget, you will run out of month before you run out of money.By creating a budget, you will finally get to control where all your money goes every month and YOU will be on your way to winning with money!This will give you peace of mind over your finances. It will also create financial security in your life!This budget will allow you to have a place where every dollar of your money goes. This simple tool will transform how you win with money!Listen to the episode and then get started today with creating a budget.Questions for Review: Do you struggle with running out of money every month? If so, what can you do to avoid that from continuing to happen? How would making a budget (and following it!) help you to win with money? Of the three budgets Dave discussed, which one is the most appealing to you? Verse From the Episode: "Suppose one of you wants to build a tower. Won't you first sit down and estimate the cost to see if you have enough money to complete it?  For if you lay the foundation and are not able to finish it, everyone who sees it will ridicule you, saying, ‘This person began to build and wasn't able to finish.'" - Luke 14:28-30

“If you find a job you love, you'll never work again...” That quote is attributed to Winston Churchhill and we wholeheartedly agree.  Today, Dave is going to tell you about his career, the ups and downs, and more importantly, why it's SO IMPORTANT to find a career that you love.You see, Dave worked for 30 years in a job that he didn't love. That job paid the bills and allowed for some extra money to save and invest, but it didn't bring true fulfillment to his work life.We want the best for you both personally and professionally. That's why in this episode we provide some important advice for finding that perfect job that both rewards you in all facets of life.When you find the work that you love, you will be more fulfilled professionally and personally and I can pretty confidently predict you will be rewarded handsomely for your efforts.Just think about what YOU could do when you find that awesome job early in your career and then retire on your terms.  Now THAT is a win/win!Questions for Review: Do you feel fulfilled in your current job? If the answer to the above question is no, is there a way you can begin trying out a new role or can you switch to another job that provides more fulfillment? Ask yourself, if you could have any job in the world, what would it be? How can you go about making that or something similar to that a reality? Verse from the Podcast: "And he said to them, ‘Take care, and be on your guard against all covetousness, for one's life does not consist in the abundance of his possessions.'" -Luke 12:15

Today Dave is going to share a pretty amazing story of someone who is so frugal that she saves ½ of her income!  The thing that is truly amazing is what she was able to do with that extra savings! Being frugal changed her life dramatically and gave her an amazing quality of life.Listen in to this story as Dave shares how one person retired at 28 years old making over $8k/month PASSIVELY.Sounds pretty farfetched, right?You may be saying, "How could she do that?"  ...or perhaps, "I want to do what she is doing!"Well, on this episode, learn how Rachel did it without earning a big salary (and how you can do it too!).Remember, "Whether you think you can, or you think you can't – you're right." -Henry FordQuestions for Review: What interests you most about Rachel's story? Does her journey seem applicable to your life in any way? What 1 thing can you do to start working towards retiring early? Quote From the Episode: "The secret way to wealth was plain - It depends chiefly on two words, INDUSTRY and FRUGALITY." -Benjamin Franklin

Did you know that 50% of people retired before they would have liked to?This could be due to layoffs, caregiving responsibilities, an unexpected change in their financial situation, or perhaps even health issues. That's a huge number! 1 in 2 chances it could be you, right?In today's episode, Daves shares some important retirement statistics that you need to consider.Many people are working hard to save for retirement with their work plans... That said, there are some unfortunate things you will need to consider if you want to make sure your retirement is a success.Recently, a Gallup poll interviewed a group of 18 to 29 year-olds and found that they were optimistic about having a very good retirement. However, once that group turned 30, they started to lower their expectations of a good retirement as they have now been in the workforce for a while and the reality creeps in that they are not saving enough for the latter years.Let's make sure your retirement is a happy one and not one like the majority of the population that is struggling to get by in their later years.Questions for Review: Did any of Dave's retirement statistics shock you? What steps can you take today to make sure you aren't like the 50% of Americans that are forced into retiring early without a plan? What realistic number do you want to reach retirement age? Which one step can you make today to put you on the right track to get there? Verse from the Episode: "One gives freely, yet gains even more; another withholds what is right, only to become poor." -Proverbs 11:24

At age 12, Mark Cuban sold trash bags door to door. Further on, he owned a bar after college and he later hit it really big when in 1995 he sold his company Broadcast.com to Yahoo for $5.6 billion dollars!Now you could say Mark Cuban is a lucky man and indeed he is. However, if you thought that, you may have missed the main point.  Sure he was ‘lucky', but if you read between the lines, he solved problems.Mark has a lot of wisdom to share in the realms of life, business, and finance. In this part 2 episode, Dave shares 5 more key financial lessons from Mark Cuban.Winning with money isn't always about taking huge risks, most of the time it's the little things you do every day like reading a book on investments or paying your credit card balance off every month. All these things will make you a winner.So, what problem can you solve in your world today? You heard some really good ways to save and invest your money, but now I want you to take one of those ideas and make it part of your life so that you can win with money! Questions for Review: Did Mark Cuban's upbringing and entrepreneurial spirit sound relatable to you? What problem do you currently see in your savings or investing strategy (this can be habits as well)? What 1 lesson from the 10, that Mark taught on, can you go out and immediately implement? Quote from the Episode: "It doesn't matter how many times you fail. You only have to be right once and then everyone can tell you that you are an overnight success." -Mark Cuban

Have you ever heard of Mark Cuban? Or better yet, Shark Tank?  I'm guessing that if you do know who he is, it may be because of seeing him on TV with Shark Tank. Mark Cubans is a world-famous entrepreneur and the owner of the Dallas Mavericks basketball team.In this episode, you're going to learn REAL ways to win with money as Dave shares some amazing financial advice from Mark Cuban.Mark built several successful businesses at an early age because he did what any great entrepreneur does, he solves problems.He's not only a good businessman, but he's also very savvy with his money and has a lot of great financial wisdom to share.Listen to the episode as Mark shares 5 unconventional tips for succeeding with money.Questions for Review: Does Mark Cubans early success seem achievable to you? [before he became a billionaire] Does getting rich slowly sound appealing to you? Remember, the fastest way to guarantee wealth is to get rich slowly. Which of the 5 tips shared do you feel that you can most likely implement? Quote from the Episode: "Every no gets you closer to a yes." -Mark Cuban

If you invested $250 per week for 30 years and averaged 7% in a tax-deferred account, you'd have over $1.2M dollars at the end of those 30 years.  Today, Dave is going to explain what the time value of money is and how it can affect you both positively OR negatively depending on what you do with your money. The time value of money is a very interesting subject and one you would want to know at least a little bit about. If I said to you I can give you $20K today or $20K five years from now, which would be a better deal?  That's easy, right?  YOU my listeners would say ‘take the money' and take it now! Why? If you have been listening to this podcast for a while now and still have not started saving a portion for your retirement, by doing ‘nothing' with your money, you are actually doing ‘something' with it. YOU are in essence allowing your hard-earned money to lose value.  Make sense?The earlier you start, the better off you are because of the time value of money. Remember, an investment delayed is an opportunity lost. Start today to win with money.Questions for Review: Do you feel like you fully understand the concept of the time value of money? If not, how could you grow in your knowledge? How can you put your money to work today so that it earns for you tomorrow? If you have a healthy amount in your savings account, is there some money stored away that could be used to grow your retirement? Verse From the Episode: "You shall remember the Lord your God, for it is he who gives you power to get wealth, that he may confirm his covenant that he swore to your fathers, as it is this day." -Deuteronomy 8:18

11% of workers plan to retire at age 55.  Are you one of them?  You get Dave's vote if you do, however at the same time, it's important to think it through though. Otherwise, you may be in for some unpleasant surprises, and financially speaking that could ruin your dream retirement.  Hear what Dave has to say on today's episode.Sounds amazing to retire early, doesn't it?Well, it can be, but before you take the plunge, take a look at your assets... NO take a very close look and be sure you have enough to really enjoy your newfound freedom.Ultimately, it's NOT rocket science and you don't have to be an engineer, a doctor, or a lawyer to win with money. It takes having a plan, educating yourself on personal finance, and following through with that plan.Life happens and your plan will not look like Dave's did. I dare say it will be VERY different. That said, our wish for you is to have your own personal plan and then focus on that plan and you will win with money.If you dare, if you are serious about winning with money, send Dave an email with a 1-page plan with how you are going to win with money. Let Dave be that accountability partner to better enable you to keep on track and win!  Questions for Review: Would you like to retire early? If so, what are you currently doing to make that a reality? Take time to put together a 1-page plan with how you will win with money. Verse From the Episode: “'All things are lawful for me,' but not all things are helpful. 'All things are lawful for me,' but I will not be enslaved by anything." -1 Corinthians 6:12

Did you know that ‘sweat equity' is tax-free? If for example, you and your spouse buy a fixer-upper, work hard and bring it back to life and then sell it 2+ years later, any gain up to $500K is free for the two of you. Today, Dave is going to share 6 great ways to save money by not paying taxes. All these 6 ways are amazing and completely legal thanks to the U.S. government.Look out, there just may be one idea that's just right for YOU!Free money is always a good thing in my book.  Take advantage when you can with one or even a few of these benefits.As always, listening to this podcast or any worthy advice is all good, however, the most important step is to make these great ideas a reality.  Is there one you particularly liked? If so, make a decision this week to make it happen.Questions for Review: Were you familiar with these 6 tax-free benefits for Americans? Is there 1 or 2 of these ways that you can begin implementing today? Can you think of any other ways to pay less in taxes (legally)? Verse From the Episode: "Then he said to them, 'So give back to Caesar what is Caesar's, and to God what is God's.'” -Matthew 22:21

74% of teens don't feel confident about their financial education!Well that's not very encouraging, is it?  Surprise, all is not lost, there is some good news regarding today's teenagers!Today, Dave will share what that is all about and why SOME are winning with money... And guess what, YOU may even learn a thing or two about money from these teenagers!Listen to this episode and you will learn why personal finance is critical for everyone... including kids.It is a skill you will use your entire life.Thank you to all who have been listening to the podcast and please continue to educate yourself about money. You will be glad you did!Questions for Review: Does your spouse or child understand personal finance? If not, how could you teach them? Where can you go or what can you do to get more financially educated? If you have a teenager think right now about 1 or 2 ways you can incentivize or teach your child personal finance. Verse From the Episode: "Train up a child in the way they should go, and when they are old they will not depart from it." -Proverbs 22:6

17 out of every 100 people are millionaires at 65. There is a very good chance that you are friends or have a relative that is a millionaire. The question today is do YOU want to become one?Today Dave will discuss 10 ways to help you win with money and make it to that special million-dollar threshold.As you'll find out in the episode, it's not all: save, save, save. It also means cutting expenses, putting your money to work for you, and saving on taxes. All 10 of these ideas will help you on your journey towards winning with money and becoming a millionaire by 65 (or sooner!).You don't have to implement all 10, but you should manage your finances with intentionality.In the episode, Dave shared how he got started saving and investing regularly and how he managed to reach a million dollars before the usual retirement age... All that despite earning just an average full-time income for 30 years. Now it's your turn! Make a plan and implement it this week.Questions for Review: Does earning a million dollars before 65 seem doable to you? Are you on track to earning a million dollars before you expect to retire? What 1 thing from the episode can you begin implementing today? Verse from the Episode: "Command those who are rich in this present world not to be arrogant nor to put their hope in wealth, which is so uncertain, but to put their hope in God, who richly provides us with everything for our enjoyment." -1 Timothy 6:17

In today's podcast episode, we discuss what it means to be average financially speaking vs. where you stand in the median group.  There is a big gap between the two and today we will focus on those median numbers (the number right in the middle of the highest and the lowest number).  You see, the average numbers are the total of a group averaged into one and those numbers can be skewed wildly if you add Elon Musk or Jeff Bezos into this average. When you do that your number can be much higher than what is ‘normal' in society.Using the median net worth, we think, is a more accurate number to determine where you stand.On the last podcast, we spoke about your net worth. Knowing your net worth is a statement that quickly shows you where you stand financially and knowing what the average net worth is in your age group can help you determine how you are doing.  YOU don't want to be average, do you? Of course not! The purpose of this podcast today is to give you a tool to see if you're winning with money.It's not a be-all, end-all, but it should help you at least see how you compare and our hope is it just may help you get fired up, or excited and refocused to win with money.  Are you winning or… something else? Let's find out! Questions for Review: Are you happy with where you are financially? After listening to the Podcast, did you find yourself in the average for your age group, or better or worse compared to your peers? What's one thing you can do today that will help make you better than average financially? Verse from the Episode: "Do not weary yourself to gain wealth, Cease from your consideration of it. When you set your eyes on it, it is gone, for wealth certainly makes itself wings like an eagle that flies toward the heavens." -Proverbs:  23:4-5

1984 was the year Dave first began to keep track of his finances with the help of a Net Worth Statement. Every year since, Dave takes an hour or so on the first week in January and determines that number.  Now 35+ years later he has a simple 1-page record of what his net worth is. That first year it was just $50K.In this episode, Dave is going to explain what a Net Worth Statement is and why it's helpful to do it annually. He outlines a simple process so that you can complete it in (likely) less than an hour's time.We really recommend you do this as it gives you a quick visual of where you are financially… and frankly it's very encouraging to see your year-to-year growth!Listen in to this week's episode as you will discover why completing a net worth statement is important and how you too can succeed at it with very little effort on your part.Questions for Review: Do you know what your net worth is? Do you now feel comfortable with calculating your net worth statement? Add a 1-hour timeslot to your calendar, sometime this year, to calculate your net worth statement. Verse of the Episode: "My Wealth Has Come From A Combination Of living in America, some lucky genes, and COMPOUND INTEREST." -Warren Buffett

I know a couple who both have a great job in sales and have an awesome salary, are married, have 2 kids, and have a house with a picket fence. Many people would say that they have got it all figured out. Their family is a success, they are living the ‘American Dream'.  Well on the outside they were, but on the inside, they were drowning in debt.In this episode, learn how minimum payments changed this family's life forever.Dave shares how one couple got into a complete mess because of their credit card misuse and he will share a very simple solution for you if you are struggling in this area and want to really win with money!Don't worry, the story does have a happy ending, so make sure you stick around for the entire episode.Questions for Review: Are you only paying the minimum payment on credit cards or other forms of debt [thus paying more in interest]?  Are you or someone you love spending more money than you are making from month to month (borrowing the difference)? Think today if there is a mental shift you need to make to stop paying credit card interest. Does that mean perhaps you only pay with cash going forward? Verse from the Episode:  "The Rich Rule Over the Poor and the Borrower is Slave to the Lender." -Proverbs 22:4

It doesn't really matter what age you start to save, what matters is that you do it.It's never too late or too early to start saving.  Let me put it another way, it's not ‘how much should I save,' but it should be ‘how much can I save'? Today, Dave is going to tell a story about a good friend that, unfortunately, has not been able to win with money. He'll also share how he would have done it differently and how you can avoid his friend's mistakes and win with money.You see, Dave's friend once shared that at one point in his career he made over $100K/year... And that would have been over 20 years ago!Unfortunately, he is now almost 80 and lives off his small pension and social security check.In this episode, Dave is going to share what went wrong and how to fix it.Are you ‘sick and tired of being sick and tired'?We want YOU to win with money. It's time to change yourself today and start winning with money.Questions for Review: Are you 'sick and tired of being sick and tired'? Are you becoming like Dave's friend, making lots of money but nothing to show for it [in savings]? What one thing can you do today to start saving in a way that has a real impact on your future? Quote from the Episode: "You can be young without money, but you can't be old without it." - Tennessee Williams

According to Time magazine, it is estimated that for a millennial with 40 years until retirement, $1 million in savings is not likely sufficient. Taking into account 3% inflation over that time period, it would be worth just $306,000 in today's dollars. See, if you are young, because of inflation, that $1 million will be considerably less in purchasing power in say 40 years. In other words, if you are 25 today that $1 million would be worth about $300K in real purchasing power.Now that is pretty discouraging, huh?  Well today, Dave is going to give you some encouraging news. Listen in on today's episode as Dave gives you a simple strategy to get you to $2 million at retirement age.You might be thinking getting to $2 Million isn't possible, but with time on your side, YOU can do this. YOU can win with money.Think outside the box in regard to your future. Read books that interest you and dream big! Life is an adventure and it can be an exciting one.  As you find what you love to do, save faithfully toward your goals, and one day you will enjoy the fruits of your labor.Questions for Review: Does saving 2 million dollars sound like an impossible goal? After listening to the episode, what steps can you take to up your savings rate? Are there any other hidden ways (legitimate) that you haven't thought of yet that might help you up your savings or savings growth? Verse of the Episode: "For as he thinks within himself, so he is." -Proverbs 23:7

Saving money for retirement can be difficult.For one thing, it seems SO far off. Many people tend to kick the can down the road a bit longer than they should and then at retirement they are not happy with the results. At age 30, the average American has saved $45K for retirement. At 40 it's $63K, at 50 it's $124K, and at 60 it's $172K.  Are YOU AVERAGE? Today I'm going to show you how YOU can save $1M for retirement. Listen in today to find out how YOU can do it.Yes, it can be done. With faithful saving and a long-term view, YOU will do it. The earlier you start the better.With compounding, your money doesn't just add up like 2 plus 2 equals 4, but it really compounds or in a sense it multiplies.See, every year, your money earns money, and then the next year that money plus the growth earns money, and on and on. The longer the time horizon you have the greater that exponential growth will be.Earning $1M in your lifetime is very doable if you plan and beginning early will make it much easier to accomplish. For those who have started late, don't despair! I didn't even factor in the raises you will likely get or the job changes that could bump your pay up significantly.Questions for Review: Does $1 million dollars in your lifetime seem attainable for you? Run the numbers, what would it take for you to earn $1M at retirement? It's time to chart out a plan. Verse from the Episode: "His lord said to him, ‘Well done, good and faithful servant; you were faithful over a few things, I will make you ruler over many things. Enter into the joy of your lord." -Matthew 25:21

Your life is to a large extent the sum of all your habits – good or bad. Research has shown that over 40 percent of what you do is habitual. It takes on average 21 to 66 days to fully learn a habit. Do you have what it takes to make saving money a habit?Here are 6 steps to change your behavior according to the International Journal of Behavioral Nutrition and Physical Activity, and other sources:  Identify Cues. Disrupt.   Replace.   Keep it Simple. Think Long-Term.   Persist.   Learn all about how you can apply these 6 simple steps in this Podcast episode.Now the habits I'm encouraging you to develop are related to your money. However, they could even apply to other areas of your life too.  Want to lose weight? Want to exercise more? Want to develop a side hustle and earn more money?  YOU get the picture right.  If you really want to win in any area, you must change the behavior that you are currently failing in and develop new habits that are moving you in the right direction to win.Questions for Review: What's one habit that you want to change or create? Is there a bad habit that you are currently doing that you can switch with a good habit? If creating that one habit was easy, what would it look like? The verse from the Episode: "Owe no one anything, except to love each other, for the one who loves another has fulfilled the law." -Romans 13:8

A recent study shared that people between 18 and 37, Generation Z and Millennials, are saving nearly 16% of their annual income away for retirement, including employer contributions. That is amazing! Now, are you one of them?If not, don't despair, today Dave is going to share money hacks, and if YOU are willing to implement them,  they can change how you think and live financially. In this episode, you will learn 10 simple little hacks that will help you to save more money.I'm positive you will be able to go out and immediately implement one or two of these clever ideas. The goal today is to stimulate you to think differently from what you've done in the past, and create a new, more successful process to save more of your money.You too can win with money! Remember this phrase: "Just because you can buy something, doesn't mean you can afford it."Questions for Review: What 1 clever way from the 10 mentioned can you immediately implement today to start saving more money? If saving was easy, what would it look like? Is there another hack or tip not mentioned in the Podcast episode that you can start using now to win with money? The verse from the Episode: "But if anyone does not provide for his own, and especially for those of his household, he has denied the faith and is worse than an unbeliever." -1 Timothy 5:8

Less than a third of parents educate kids about saving money for retirement and only 30% of parents teach about investing money with their kids.Those statistics are not so good!  Maybe you are one of those kids that just didn't get the information you needed on basic finance.Schools are really challenged to teach all that is needed for a student to succeed in life and, unfortunately, financial literacy many times falls by the wayside in both school and family life.Whether you are the parent or you are the student today, my hope is that by the end of this podcast you will have learned one thing that you can use to succeed with money. Parents are the #1 teacher of their kids.It's important to teach by example, NOT just by lecturing.So you parents out there, take a step back and ask, how am I doing? As the saying goes, "more is caught than taught."Chose one thing today that you can share with your loved ones that will have an impact on their lives financially.Questions for Review: Did you grow up learning about finances? If not, how can you catch up and improve your knowledge? If you have kids, what is 1 thing that you can teach them about finance and investing this week? Start to think about how you can begin to teach by example and NOT just by lecturing. The Verse from the Episode: "Death and life are in the power of the tongue." -Proverbs 18:21

4 out of 5 parents wish they learned more about money as a kid and 59% of parents are uncomfortable talking to kids about money.On this Podcast, we are going to discuss some financial words that you may have heard but don't really ‘get'.  I hope it helps a bit on your financial journey and a few suggestions to take you to the next step on YOUR way to financial success.Do you understand the basics of finance?  Here are a few financial terms to test your knowledge. Let's see how well you understand: Being debt free A monthly budget An emergency fund Compound interest  Investments and insurance differences These are just a few basic terms that you need to know on your journey to success in finance!Don't let some of these financial terms scare you. Make ‘Having a monthly budget and an emergency fund' part of your normal vocabulary and you will be one step closer to winning with money!In the end, it is up to you to become educated in finance. I know you are interested, so now it is the time to take action!Questions for Review: Do you consider yourself financially literate? If the above answer was no, what would it take for you to become financially literate? Do you have an emergency fund setup and if not how can you begin to start saving for one? Verse from the Episode: "The way of a fool is right in his own eyes, but a wise man listens to advice." -Proverbs 12:15