Minority Money

Emlen Miles-Mattingly
Minority Money

The Minority Money Podcast is about finance, family, fitness/health, and education and how all of these things affect your overall wealth.

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    The Difference Between Price and Cost

    We often get caught up in the idea of making big purchases without fully considering the costs associated with them. In this episode we will explore the difference between price and cost through a conversation with my 15-year-old daughter about buying a car. While my daughter was focused on the price of the car and how to pay for it, I wanted to highlight the additional costs associated with owning a car, such as insurance, maintenance, and the cost of time spent away from other important activities. Understanding the difference between price and cost can also be applied to other significant purchases, such as buying a home.  As the summer approaches and people begin to explore new purchases, it is crucial to fully consider the cost of ownership before making any large financial decisions. Key Points: [01:25] #1 Calculation of cost of owning a car [04:27] #2 Illustration of buying a $500,000 home [06:15] #3 Importance of accounting for all costs associated with a purchase [07:06] #4 Trade-offs when making a financial decision If you loved this episode, you have to listen to these episodes as well:  >> Life Planning: Looking Beyond Finances with George Kinder >> Motivation vs Commitment >> Success for Minority Teens with Carlos Gomez I’m sure you’re getting tons of value from the podcast! Don’t forget to subscribe on Apple Podcasts (https://apple.co/3jN77Mv), Spotify (https://spoti.fi/3jParH0), Google Podcasts (https://bit.ly/3n3i8vb), or on your favorite podcast app and SHARE THIS 👉 (https://bit.ly/3l18yWQ) with a friend. ********** Want to chat with a fee-only financial planner? Shoot me an email at emlen@minoritymoneypodcast.com I Can't wait to meet you.

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    Building Healthy Financial Habits & Principles for Future Generations

    What financial advice would you give to your younger self or your children? In this episode, I’ll discuss principles for teaching young people about money. These include paying oneself first, not spending more than one makes, investing early and frequently, never stop learning, and managing debt effectively. It is very important to have open conversations with family members about money and building a healthy relationship with it. Build healthy financial habits and ensure that future generations are equipped to make informed financial decisions. Listen now! Key Points: [02:40] #1 Pay yourself first [05:39] #2 Don’t spend more money than you make [07:32] #3 Invest early [09:54] #4 Never stop learning [10:51] #5 Manage your debt If you loved this episode, you have to listen to these episodes as well:  >> Spring Cleaning Your Finances: Tips for a Financial Fresh Start >> Monitoring your Financial Plan with Dr. Preston Cherry [Step 7 of Financial Planning] >> Implementing the Plan with Shawn Tydlaska [Step 6 of Financial Planning] I’m sure you’re getting tons of value from the podcast! Don’t forget to subscribe on Apple Podcasts (https://apple.co/3jN77Mv), Spotify (https://spoti.fi/3jParH0), Google Podcasts (https://bit.ly/3n3i8vb), or on your favorite podcast app and SHARE THIS 👉 (https://bit.ly/3l18yWQ) with a friend. ********** Want to chat with a fee-only financial planner? Shoot me an email at emlen@minoritymoneypodcast.com I Can't wait to meet you.

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    Removing Obstacles and Distractions for Financial Success

    As we near the end of the year's first quarter, let’s reflect on the goals we have accomplished and those we still aim to achieve.  In this episode, we’ll talk about removing obstacles and distractions in our lives that prevent us from reaching our financial goals. We will also explore the concept of body budgeting and how it ties into the brain's function in the body's ability to budget.  Plus, don't forget to sign up for our six-month Spring Cleaning Your Finances Boot Camp Program with group coaching, one-on-one sessions, and access to an award-winning software for 12 months.  If you're looking to improve your financial health and spring clean your finances, make sure to check out this episode! Key Points: [01:44] #1  Spring cleaning finances boot camp offered by Gen X wealth [03:40] #2 "Seven and a Half Lessons About the Brain" and body budgeting [04:32] #3 The importance of removing obstacles to reach our financial goals. [07:20] #4 Tips and suggestions on how to remove obstacles to prepare ahead of time, set realistic goals, and create a routine. If you loved this episode, you have to listen to these episodes as well:  >> Spring Cleaning Your Finances: Tips for a Financial Fresh Start >> Monitoring your Financial Plan with Dr. Preston Cherry [Step 7 of Financial Planning] >> Implementing the Plan with Shawn Tydlaska [Step 6 of Financial Planning] I’m sure you’re getting tons of value from the podcast! Don’t forget to subscribe on Apple Podcasts (https://apple.co/3jN77Mv), Spotify (https://spoti.fi/3jParH0), Google Podcasts (https://bit.ly/3n3i8vb), or on your favorite podcast app and SHARE THIS 👉 (https://bit.ly/3l18yWQ) with a friend. ********** Want to chat with a fee-only financial planner? Shoot me an email at emlen@minoritymoneypodcast.com I Can't wait to meet you.

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    Is Indexed Universal Life Insurance right for me?

    The power of insurance should never be underestimated. But how about we dig deeper into what insurances do and realign them with your financial goals? Today’s episode is about Indexed Universal Life insurance. We talk about how it can be a good investment while serving as your life insurance. We’ll also discuss how to understand policies so you can strategize investing for it. We’ll also debunk insurance misconceptions so you can utilize it according to your financial intentions and outcomes. Make your goal specifically yours. Reclaim your power to strive for life. Tune in now!  Key Points: [2:10] #1 IUL is your life’s investment!  [13:24] #2 Find the best reason to opt for IUL [14:25] #3 Align your financial goals with the right insurance If you loved this episode, you have to listen to these episodes as well:  >> The Value of a Financial Advisor  >> Planning Your Life & Finances - a 2022 Mash Up >> Own Your Home and Grow Your Mental Wealth I’m sure you’re getting tons of value from the podcast! Don’t forget to subscribe on Apple Podcasts (https://apple.co/3jN77Mv), Spotify (https://spoti.fi/3jParH0), Google Podcasts (https://bit.ly/3n3i8vb), or on your favorite podcast app and SHARE THIS 👉 (https://bit.ly/3l18yWQ) with a friend. ********** Want to chat with a fee-only financial planner? Shoot me an email at emlen@minoritymoneypodcast.com I Can't wait to meet you.

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The Minority Money Podcast is about finance, family, fitness/health, and education and how all of these things affect your overall wealth.

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