186 episodes

Whether it's getting out of debt or getting a new job, Rich & Marcus have you covered. Join them as they take a fun and relatable approach to personal finance and career advice for millennials.

Paychecks & Balances Rich Jones & Marcus Garrett

    • Investing
    • 4.9, 881 Ratings

Whether it's getting out of debt or getting a new job, Rich & Marcus have you covered. Join them as they take a fun and relatable approach to personal finance and career advice for millennials.

    Discovering Financial Independence ft. Jamila Souffrant of Journey To Launch - PB169

    Discovering Financial Independence ft. Jamila Souffrant of Journey To Launch - PB169

    Jamila Souffrant is the creator of the blog and podcast, Journey To Launch, where she teaches and inspires others how to eliminate debt, save money, and increase their net worth. The lessons she has learned through trial and error helped her family to save $169,000 in two years and be debt-free, and she is well on the way to becoming financially independent by the age of 40. Jamila is the resident financial expert on a weekly segment on News12 and has been featured in Money Magazine, TIME, Business Insider, Refinery29, CNBC, ESSENCE Magazine & CBS. She lives in Brooklyn, New York with her husband and three young children.
     
    Jamila joins me today to share what inspired her to give up her well-paid corporate job and pivot her focus to working towards financial independence. She discusses the factors in her background that inspired her to be a savvy money manager and how she worked hard to buy a small condo in her early 20s, which ultimately started her on the path to building her own business. Jamila also shares the values of intentional spending and how you can prioritize your spending and saving to ensure that you’re both happy in the moment and happy in the future.
     
    “Spend on what you value - there is no point in being miserable on this financial journey” - Jamila Souffrant
     
    This week on Paychecks and Balances:
    How Jamila started Journey to Launch with the support of her family Why she gave up her corporate job to make a life change Why she aims to be financially independent by 40 How her husband got on board with her ambitious financial goals The importance of maxing out your retirement plans Who inspires her in the personal finance space How she created her spreadsheet to map her financial freedom What financial independence means to her? Why she has switched her investment strategy in the last year The impact of working towards financial independence with a young family Her philosophy on generational wealth and planning for her children’s future How her approach to financial independence has changed in these challenging times  
    Resources Mentioned:
    Mad Fientist podcast Money Mustache podcast Radical Personal Finance podcast Mint spreadsheet Excel Google Sheets  
    Connect with Jamila Souffrant:
    Journey to Launch  Facebook Journey to Launch Instagram Journey to Launch Twitter Journey to Launch  
    Connect with Paychecks and Balances:
    Paychecks and Balances Website Patreon Paychecks and Balances Instagram Paychecks and Balances Facebook Paychecks and Balances Twitter Paychecks and Balances  
     

    • 44 min
    All Things Money ft. Ericka Young - PB168

    All Things Money ft. Ericka Young - PB168

    Ericka Young is the founder of Tailor-Made Budgets. Here, she coaches individuals and small business owners on budgeting, saving and investing. Her passion for financial education stems from her and her husbands life experience of living above their means and having to climb out of nearly 100k in debt. This debt payoff journey changed Ericka’s life and career path. She knew she wanted to help people get out debt, so Ericka and her husband Chris went to Nashville and got trained by Dave Ramsey’s team. Ten years later Tailor-Made Budgets is thriving and Ericka is grateful for the amazing opportunities she has everyday, and how she gets to help people transform their careers, families and futures.
     
    Ericka joins the podcast today to tell her money story. In this episode you’ll learn why it’s important to study various financial teachers because there’s not one money system that will work for everyone. You’ll also learn what steps you should take before shifting careers or jumping into your side hustle full time, what to do with your money during this pandemic, as well as why Ericka discourages credit card use. Lastly, why you should always take the 401k match your company offers, because it’s FREE money.
     
    “Take bits and pieces from all of the financial experts out there, there’s a lot of valid information and you have to see what works for you” - Ericka Young
     
    This week on Paychecks and Balances:
    How Ericka went from being an Engineer to a Financial Coach Why many of us are keeping up appearances and living above our means The sacrifices it takes to pay off large sums of debt How to find a financial teacher that resonates with you Why you should absolutely be taking your companies 401k match How to determine what type of investments you want to make: Real Estate vs. Stocks vs. Investing in a Business How to future proof your business by moving it entirely online  
    Connect with Ericka Young
    Tailor-Made Budgets
    Instagram
    Facebook
    Twitter
    YouTube
    LinkedIn
     
    Connect with Paychecks and Balances:
    Paychecks and Balances Website Patreon Paychecks and Balances Instagram Paychecks and Balances Facebook Paychecks and Balances Twitter Paychecks and Balances  
     
     
     
     
     

    • 38 min
    Getting It All Together ft. Mykail James of the Boujie Budgeter - PB167

    Getting It All Together ft. Mykail James of the Boujie Budgeter - PB167

    Mykail James is the founder of Boujie Budgets and is passionate about teaching Gen Z professionals how to manage their finances without sacrificing their lifestyle. Mykail is a Certified Financial Literacy instructor with an MBA focused on accounting, and her fresh new take on managing money and finances helps people understand money concepts such as budgeting, saving, and investing. Mykail works with organizations such as the Howard University Trio Program and public schools in the District of Columbia, Maryland, and Northern Virginia Metropolitan area to provide workshops and interactive lectures to inspire her audience to identify where their money traumas lie and take the steps to financial success.
     
    Mykail joins me today to discuss how she was inspired by her parents to take charge of her finances from a young age and how their practical lessons in financial concepts helped her understand how to budget. She dives into the benefits of fintech and how having a system to help you manage your money decreases stress and enables you to prioritize your spending. Mykail also shares the story of her own tough lesson in managing her cash and lets us in on how she built her credit score back up and how you can do the same.
     
    “If your savings are safe, and your bills are paid it really doesn't matter where you spend your money - just ensure it’s benefitting you in the long run” - Mykail James
     
    This week on Paychecks & Balances:
    Why Mykail is driven to help her peers understand their finances A beginners guide to opening a credit card and why it’s vital to understand what minimum payments are How she juggles her job and Boujie Budgets and still has time to enjoy life Books and podcasts she enjoys that boost her productivity and skills How a system can help you manage your finances Four basic steps that will help you manage your money How to use financial technology (fintech) to create a personalized money management system How to determine the ‘emotional goals’ for your money How to start your financial reset The secret to keeping your finances at the forefront of your mind  
     
    Resources Mentioned: 
    Budgenista podcast When: The Scientific Secrets of Perfect Timing by Daniel Pink The 4-Hour Work Week by Tim Ferriss Atomic Habits: Tiny Changes, Remarkable Results by James Clear Personal Capital Stash Robinhood Acorns  
    Connect with Mykail James:
    Boujie Budgeter Website Code and Coin Podcast Facebook Boujie Budgets Instagram Boujie Budgets Twitter Boujie Budgets  
    Connect with Paychecks & Balances:
    Paychecks & Balances Website Patreon Paychecks & Balances Instagram Paychecks & Balances Facebook Paychecks & Balances Twitter Paychecks & Balances  
     
     
     
     
     

    • 45 min
    Financial Independence and Family ft. Wendy & Curtis Mays - PB166

    Financial Independence and Family ft. Wendy & Curtis Mays - PB166

    Wendy and Curtis Mays from Hou$e Of Fi are on the show today. They’re a married duo whose mission is to help your family pay off debt, budget better, save more money and increase your income. Wendy is a retired lawyer and Curtis is a high school teacher and Football Coach. Their journey into the personal finance space started back in 2008-2009 during The Great Recession, when they lost 2 homes. Along their personal finance journey, they’ve also overcome a period of time where they were drowning in six-figure college loan debt, consumer debt and living paycheck to paycheck, all while making six figures in income! This didn’t add up and they knew something had to change. Wendy and Curtis were scared for their financial future and worried about not being able to help their kids with college. Since 2016 they’ve gotten rid of over 650K of debt. At House Of FI they share their money story, open up their toolbox and share their tools so that you can embark on your own financial independence journey and live a joy-filled life.
     
    Wendy and Curtis offer a FREE course called “7-Step Money Foundations” aimed at educating people about their personal finances. They also host the House Of FI podcast where they interview experts in the personal finance space and discuss topics such as: F.I.R.E, marriage and money, budgeting, investing, side-hustles, debt payment plans, strategies for paying off student loans and other relative money topics. In today’s episode you’ll hear Wendy and Curtis’s money story, their money roles in their relationship, how they budget and prep for the future with six kids, and the steps they took to get out of debt.
     
    What To Listen For
    Why married couples must determine what kind of lifestyle they want to live The cost of having flighty dreams Sacrificing things in the short term, to achieve long term goals How income and gender roles can affect your marriage – Who is the “breadwinner”? Trying to shakeoff living with a crisis mindset after a traumatic money event has taken place The importance of additional income streams Why you need a Plan A, Plan B and Plan C for your money and career How Wendy and Curtis learned from losing 2 homes in The Great Recession How to discuss money, budgeting and investing with reluctant spouses – Accepting them where they are in their money journey The financial impact of having a big family The importance of leaving a legacy for your children Dealing with lifestyle creep The debt-avalanche vs. debt-snowball payment methods  
    Key Takeaway: Learn from your financial mistakes and plan for your future. Get educated about what you can do to budget better, pay off debt and increase your income through side-hustling.
     
    Paychecks & Balances
    Website: https://paychecksandbalances.com
    Patreon: https://www.patreon.com/paybalances
    Instagram: https://www.instagram.com/paybalances
    Facebook: https://www.facebook.com/paychecksandbalances
    Twitter: https://twitter.com/paybalances?lang=en
     
    House of FI
    Website: https://houseoffi.com/
    Twitter: https://twitter.com/houseoffi1
    YouTube: https://www.youtube.com/channel/UCJsy-xKYKq0P5IYDTbHBIrA?view_as=subscriber
    Instagram: https://www.instagram.com/house_of_fi/
    Podcast: https://houseoffi.com/podcast-3/
    Facebook: https://www.facebook.com/Houseoffi/
     
     
     
     
     

    • 52 min
    Relationships and Money ft. Adam Kol - PB165

    Relationships and Money ft. Adam Kol - PB165

    Couples Financial Counselor Adam Kol joins the show today. Adam is a finance geek who started his finance journey studying Economics at The University of Miami. While studying for his degree he landed a job at Northwestern Mutual. There, he developed a love of working with families and educating them about money. Later on, he received a “Masters in Tax Law” from NYU and along the way he also become a Certified Mediator.
     
    Adam realized early on that talking about money and finances was one of the biggest stressors that couples face. After completing his education he began coaching and providing Couples Financial Counseling to those in need. His mission is help you work through the money issues in your relationship by creating a safe place to talk about your “money story”. He guides couples through taking a financial inventory, repairing existing issues, planning and structuring your finances, and helps you choose your new future, together. Adam also specializes in coaching couples that are first time homebuyers and those who are engaged and planning a wedding. In both cases two massive money conversations need to take place.
     
    In this episode he walks Rich and Marcus through some of the techniques he uses to help couples dissect and repair their money issues, emotionally and financially. He also provides some tips on how to talk to your partner about money, how to know your triggers, how to break the traditional “money roles” between men and women and lastly, what to do when it seems like nothing is working and someone in the relationship isn’t willing to put in the work to fix money problems.
     
    What To Listen For
    What it was like for Adam, growing up in a homogenized city Having never paid a late fee on a credit card Adam’s love of advocating for clients The positives and negatives couples are dealing with during COVID 19 The importance of giving yourself grace Knowing your triggers and how to remove yourself from a situation The dynamics between the traditional roles of men and women surrounding money Self Awareness is the key to creating change for yourself, that will in turn help change issues in your relationship Reason’s why people don’t talk about money in their relationships and tips on how to change this Having a “Values Mismatch” with your partner Filing relationship bankruptcy and starting over  
    Key Takeaway: By talking about money in your relationship in a safe and controlled space you and your partner and can begin to build an open and honest financial foundation and create a life that’s aligned with your values and goals.
     
    Episode Resources
     
    Paychecks & Balances
    Website: https://paychecksandbalances.com
    Patreon: https://www.patreon.com/paybalances
    Instagram: https://www.instagram.com/paybalances
    Facebook: https://www.facebook.com/paychecksandbalances
    Twitter: https://twitter.com/paybalances?lang=en
     
    Adam Kol
    Website: https://ahkcoaching.com/
    YouTube: https://www.youtube.com/channel/UC7EtOVjeoCcLs-uaj4Ev1aQ
    Instagram: http://instagram.com/ahkcoaching
    Podcast: https://ahkcoaching.com/podcast
    LinkedIn: https://www.linkedin.com/in/adam-kol-4bb34a39/
     
     
     
     

    • 58 min
    Let's Keep Stacking Benjamins ft. Joe Saul-Sehy - PB164

    Let's Keep Stacking Benjamins ft. Joe Saul-Sehy - PB164

    Joe Saul-Sehy joins us on the podcast today. Joe is one of the hosts of the award winning “Stacking Benjamins” Podcast, where he and his co-host OG discuss financial literacy. The show has been running since 2012 and since then, Joe and OG’s goal has been to make finance fun and more approachable. There’s an ongoing joke that “ you won’t learn anything” on Stacking Benjamins, but you’ll be in comfortable setting where money conversations are friendly. Joe, OG and guests on the show often share their money mistakes in the hopes that the listening audience will learn from them.
     
    Part of the podcasts success is Joe’s booking philosophy. He has diverse guests on the show from many different types of ethnicities and financial backgrounds. He believes that everyone has a money story to tell based on the way they were taught about money growing up. It’s from these stories and personalities that we can seek to deeper understand the way money affects the people around us.
     
    Joe’s journey into finance started from his own mishandling of money in his younger years and a pivotal experience of running out of gas with his kids in the car solidified his desire to get educated about money and make a change. In today’s episode you’ll hear Joe’s story on why he started the podcast, why you need to jump in on your big idea, how your weakness becomes a part of your life’s story, how to pick the right people to surround yourself with and more.
     
    Show Highlights
    “Just start ugly” How your weakness becomes your story The importance of your product and feedback from your audience The struggle of deciding between short term solutions that are obvious and long term that are right Why you need to seek out knowledge through books, podcasts, videos etc… Finding the “good people” to surround yourself with Having all the questions, not the answers The importance of diversity in the finance sector  
    Key Takeaway: Everyone has a story to tell and it’s from these stories that we can get a better understanding of why people are the way they are and how their background influences their decision making in money, but more importantly in life.
     
    Paychecks & Balances
    Website: https://paychecksandbalances.com
    Patreon: https://www.patreon.com/paybalances
    Instagram: https://www.instagram.com/paybalances
    Facebook: https://www.facebook.com/paychecksandbalances
    Twitter: https://twitter.com/paybalances?lang=en
     
    Joe Saul-Sehy
    Websites: https://joesaulsehy.com/ https://www.stackingbenjamins.com/
    Twitter: https://twitter.com/SBenjaminsCast
    YouTube: https://www.youtube.com/stackingbenjamins
    Instagram: https://www.instagram.com/stackingbenjaminspodcast/
    Facebook: https://www.facebook.com/IStackBenjamins/
     
     
     

    • 57 min

Customer Reviews

4.9 out of 5
881 Ratings

881 Ratings

TheAgentKaye ,

A Whole New Outlook

The concepts I’ve been introduced to through Paychecks & Balances have been nothing short of life-changing. Before P&B, I really didn’t know anything about the FIRE community. For so long in my life, I connected financial security to having a “good job,” and that created a lot of anxiety around employment and retirement. Rich and Marcus, along with the great guests they bring on the show, introduced me to the concept of finding financial value beyond what I bring to an employer. I realized that I can’t rely on someone else for true security—I have to create it for myself.

Bermuda Nae ,

5 STARS!

First started listening to these two a year ago and I’ve binged a lot of the episodes since then. I live in Bermuda so I can’t apply everything they talk about but the concepts, the guests - it’s all relatable and I apply what I can. Love these guys, plus the deep voices don’t hurt! Makes it that much more enjoyable to listen to.

Clarisse Gomez ,

Awesome Podcast!!!

Rich & Marcus, host of the Paychecks & Balances podcast, highlight all aspects of business, investing and more in this can’t miss podcast! The host and expert guests offer insightful advice and information that is helpful to anyone that listens!

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