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It may have been over a year since I last put together a podcast episode, but I’m back today to talk with Consumerism Commentary Podcast guest Carl Richards. Carl is here to talk about his new book, The One-Page Financial Plan: A Simple Way to Be Smart About Your Money. The author will also be the keynote speaker at the upcoming FinCon Expo. In today’s podcast, Carl and I discuss why reducing a complex financial plan to one page can be key for living the fulfilled life you envision and how certain emotions can stand in the way. We talk about avoiding financial mistakes, and what a financial adviser’s (or a friend’s) role might be. Because Carl is “The Sketch Guy” for The New York Times, we talk about the origins of Carl’s sketches, and how these sketches and Carl’s other art have been received in the art scene. Finally, Carl and I discuss the process of publishing, and listeners will get an early listen to what might be the focus of his FinCon keynote address. Consumerism Commentary is offering five free copies of The One-Page Financial Plan to five Consumerism Commentary readers. To be considered for receiving one copy of the book, which is also available at retailers, leave a comment below the transcript. Continue reading this article to listen to or download the podcast. You can also subscribe to the podcast in iTunes. jQuery(document).ready(function($) { $('#wp_mep_1').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Luke: Welcome to the Consumerism Commentary podcast, I’m Luke Landes. My guest today is the New York Times Sketch-Guy, Carl Richards, also the author of The Behavior Gap and his new book, the One-Page Financial Plan. Carl will also be the keynote speaker at FinCon this September. Carl, thanks for joining me today! Carl: Luke, I’m really excited to talk with you. Thanks for having me on! Luke: We’re going to talk today about the One-Page Financial Plan, and it’s surprising to me, because if someone says “financial plan,” I think of a pretty thick document — 10, 20, 50 pages. I can’t imagine what it would take to get all that information about goals, projections, budgets, and investments on one page. So what does a one-page financial plan look like? Carl: First I have to tell you a funny story, real quick. My daughter, who was 9 at the time of this c

Today’s guest on the Consumerism Commentary is author Zac Bissonnette. Zac last appeared on the show four years ago, and he’s back today to talk about his new book, Good Advice from Bad People: Selected Wisdom from Murderers, Stock Swindlers, and Lance Armstrong. The study of hypocrisy seems to be infinite, but it is particularly evident in the self-help and motivational genres — and you don’t have to look far from personal finance advice to find some of the most egregious examples of experts and gurus living by rules different than those they preach. Zac’s book is a fascinating read about the lives of notorious people who, if judged by their words of advice alone, should be saints. You might be familiar with Bernie Madoff, but reading about the lives of motivational swindlers like Charles Givens, Barry Minkow, and Myron Scholes gave a different kind of context to the words they’ve written and the speeches they’ve performed. Can you separate the advice from the people who speak it? What makes someone worthy of offering advice? Zac and I discuss these things — and Tim Tebow. Continue reading this article to listen to or download the podcast. You can also subscribe to the podcast in iTunes. jQuery(document).ready(function($) { $('#wp_mep_2').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Luke: Welcome to the Consumerism Commentary Podcast. I’m Luke Landes, and my guest is Zac Bissonnette, author of Good Advice From Bad People, a new book available in paperback and digital formats from Amazon.com and other retailers. Hi Zac, how are you? Zac: Great to be here. How are you? Luke: Great, and it’s great to have you back. I know you’ve been on the show before and it’s always good to talk. So in the new book, you take a look at financial gurus and executives who have perpetuated financial fraud, moralists who get caught with their pants down, politicians who spout advice about ethical behavior who wind up embroiled in scandal, athletes as role models for kids, who are cheating. Once someone gives advice, does that open that person up to more scruitny and judgment than your average individual who’s not a best-selling author? Zac: Well, it certainly should. I don’t know that it often does, which is sorted interested me, and made me want to write this book. One of the things

This interview should be required listening for women — and men — who are in a relationship, particularly a marriage, in which the woman earns more than the man. This is precisely the situation in which author Farnoosh Torabi has found herself, and as a popular financial columnists, she discovered she wasn’t alone. Based on her own experiences, questions from her readers, she began researching relationships for her latest book, When She Makes More: 10 Rules for Breadwinning Women. The book features stories from and advice for the growing number of couples who are seeing this non-traditional income dynamic. The book will be released May 1, but Farnoosh is offering several special deals for anyone who orders the book before its release. You could win care baskets from the author’s favorite brands and services, including TaskRabbit, Evernote and Stella & Dot. You might also win lunch with the author and a backstage pass to the NBC Today Show. After you pre-order your copy of When She Makes More, visit this page to enter to win one of the freebies. In today’s episode of the Consumerism Commentary Podcast, Farnoosh Torbai discusses this phenomenon and offers tips and suggestions for adapting to a different financial balance. Continue this article to listen to the podcast. You can also subscribe to the podcast in iTunes. jQuery(document).ready(function($) { $('#wp_mep_3').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Luke: Welcome to the Consumerism Commentary Podcast. I’m Luke Landes. Today Farnoosh Torabi returns to the podcast with her new book, When She Makes More: 10 Rules for Breadwinning Women, available May 1 from Amazon, in hardcover and Kindle editions. Welcome back, Farnoosh. Farnoosh: Thanks for having me! It’s great to join you again. I’m looking forward to talking about the book. Luke: More women are making more than their partners than ever before. More are primary breadwinners. They could use rules for dealing with that situation. I’m curious who these women are. You’ve identified two distinct groups of breadwinning women? Farnoosh: There are a number of groups. There is obviously the married woman who is making more than her husband. Wither she’s been making more since the very beginning of the relationship or she has found herself inheriting the role as a r

Although I was tracking my net worth closely, I can’t pinpoint the exact moment my total net worth would have crossed into seven figures and someone might consider me a millionaire. It was something I wasn’t thinking about for a variety of reasons, but because I was an entrepreneur, I was the owner of a business that was increasing in value. It was difficult to assign a specific value to that business, but because I ended up selling that business — this website — the buyer and I both had to agree on a value. Sometime before then, I also crossed the point of having a balance sheet that included investable (non-business) assets of a million dollars. One of the reasons I stopped publicly tracking my finances as I wasn’t interested in drawing attention to the fact. I tracked my finances to hold myself accountable for making better decisions with my money on a day-to-day basis; as my business grew, most daily decisions had little impact on my financial well-being. So I stopped. And I don’t talk about my net worth. Instead, I let Consumerism Commentary readers track theirs, like I did for many years, through Naked With Cash. But there are a lot of people who like talking about what it means to be a millionaire. For most people who have reached that abritray round-number milestone with their investable net worth, life hasn’t changed too much from when their net worth was lower. Jaime Tardy founded Eventual Millionaire to talk to as many millionaires as possible, with the goal of gaining some insight about entrepreneurship that could help people see that kind of success. But does it make sense to look at that millionaire milestone as the target? Most people in my age group (I’m 38 years old as of last week — happy birthday to me) would probably need several million dollars invested if they wish to be financially independent today or would need as much twenty years from now for a healthy retirement living a middle class life. In this podcast, I discuss this issue with Jaime, and we determine what we might be able to learn from millionaire entrepreneurs. Her new book, The Eventual Millionaire: How Anyone Can Be an Entrepreneur and Successfully Grow Their Startup, is now available. Continue reading this article to listen to the audio or to find a link to download the audio for later. You can also subscribe to the podcast in iTunes. jQuery(document).ready(function($) { $('#wp_mep_4').mediaelementplayer

I’m a reluctant entrepreneur, but I’ve learned to be less self-conscious about the fact that this is the designation society has given to me as someone who started his own business. While many people after, but also before, the recession have started side businesses to improve their financial security, for me, a hobby turned into a profitable and enjoyable way to spend my time. But entrepreneur was always a dirty word to me, even after I came to the realization that I was, in fact, an entrepreneur. The word hustle is now associated with side businesses, but a hustle is a con, a scam. These words have always had the connotation of being less than forthright in business, using deceptive practices to get a customer or mark to part with his or her hard-earned money. Entrepreneurship has a rich history in the United States, considering this is a country of immigrants, and every batch of latest immigrants has a hard time finding acceptance in traditional jobs, and language and cultural barriers often keep communities looking within for business. Self-employment as a result of side businesses is a growing trend, but not necessarily due to immigration. This is the focus of Kimberly Palmer’s new book, The Economy of You: Discover Your Inner Entrepreneur and Recession-Proof Your Life. Kimberly is the money editor and Alpha Consumer blogger for U.S. News & World Report, and I’ve had the great pleasure of working and speaking with her over the past few years. She joined me recently to discuss the theme of her latest book. Continue reading this article to listen to the audio or to find a link to download the audio for later. You can also subscribe to the podcast in iTunes. Visit Kimberly’s website at ByKimberlyPalmer.com. Luke: Today on the Consumerism Commentary Podcast, I speak with Kimberly Palmer, the author of The Economy of Your. Luke: Welcome to the Consumerism Commentary Podcast. I’m Luke Landes, and my guest today is Kimberly Palmer, senior money editor and Alpha Consumer blogger at U.S. News & World Report. Kimberly’s new book, The Economy of You: Discover Your Inner Entrepreneur and Recession-Proof Your Life, hits stores in January. Kimberly, welcome back to the podcast. Kimberly: Hi, Luke, thank you for having me. Luke: Absolutely! It’s my pleasure. Let’s talk about entrepreneurship, a topic you focus on in your book. Entrepreneurship in the United States isn’t new; it’s always been a part of American society, especially for later

I haven’t been running the Consumerism Commentary Podcast on a regular basis. Instead of a weekly podcast, my intention is to share occasional interviews to discuss topics that go beyond product updates and general personal finance information. Jeff Rose is a successful financial blogger, founder of Good Financial Cents. His new book, Soldier of Finance: Take Charge of Your Money and Invest in Your Future, is available today at all major book retailers today. I wanted to speak with Jeff about this book because it, like my other favorite books about personal finance, is more than just another annual update to the same basic financial non-fiction literature we tend to see from the more popular authors with television shows or seminars to promote. Jeff gives personal finance an interesting spin stemming very deeply from his own experiences inside and outside of the military. You don’t need to have military experience to take helpful information away from Soldier of Finance. I am very much a civilian and enjoyed reading the stories Jeff shares in the book and seeing how they relate to training in financial skills ranging from beginning to advanced. With this podcast, my intent was to allow Jeff to share his military experiences throughout our discussion as we looked at some of the metaphors from his new book. Continue reading this article to listen to the audio or to find a link to download the audio for later. You can also subscribe to the podcast in iTunes. [00:00] Introduction from Luke Landes – [00:32] Interview with Jeff Rose – [01:02] Jeff Rose’s experience leading to the military – [02:30] The Army National Guard – [04:12] Initial training and team-building – [06:29] Using lessons from the military in life – [07:33] Family financial issues that shaped Jeff’s approach – [10:37] How to say no to a family member – [12:36] Relevance of military attitudes to personal finance – [16:17] Jeff Rose’s experience in combat – [17:22] A soldier of finance – [19:51] Applying the oath and creed to day-to-day finances – [20:57] Effect of the military on goal-setting – [21:45] Surprises when returning from deployment – [22:43] Battle buddies – [25:00] Jeff’s approach to his clients – [26:00] CrossFit’s application to personal finance – [28:35] Availability of Soldier of Finance [30:16] End Here are all episodes of the Consumerism Commentary Podcast. You can also subscribe using iTunes or RSS. Episode 170 credits: Produc

The Consumerism Commentary Podcast is no longer on a regular schedule, but I plan to produce new episodes throughout the year as the opportunities arise. Today’s guest on the podcast is Helaine Olen, author of Pound Foolish: Exposing the Dark Side of the Personal Finance Industry. Helaine is a New York-based journalist, contributing to Forbes, and notably wrote and edited the “Money Makeover” feature for the Los Angeles Times. You can find Pound Foolish, available in book form as well as for the Kindle, where ever books are sold. The book takes a critical eye at the media-driven personal finance industry, from self-help gurus like Suze Orman, Robert Kiyosaki, David Bach, and Dave Ramsey, to commission-based salespeople and lesser-known money coaches who host free-lunch seminars with the intent of selling low-quality products. In addition to the state of personal finance today, in the podcast, we talk about how personal finance journalism has changed since its emergence during the Great Depression. [00:00] Introduction from Luke Landes – [00:30] Interview with Helaine Olen – [00:42] Roots of personal finance journalism, Sylvia Porter – [04:00] Changes in personal finance since the Great Depression – [05:50] Complexity of personal finance products – [06:52] Marketing driving personal financial advice, Suze Orman – [11:28] Robert Kiyosaki, wealth guru – [14:33] Corporate sponsorship of financial literacy programs – [15:50] Does financial literacy even work? – [17:50] Modeling financial behavior for children – [19:30] Solutions other than financial literacy – [21:25] Consumer Financial Protection Bureau and regulators – [22:07] What can individuals do to eliminate “gotcha products?” [25:59] End Here are all episodes of the Consumerism Commentary Podcast. You can also subscribe using iTunes or RSS. Episode 169 credits: Produced and hosted by Luke Landes Guest: Helaine Olen Edited and mixed by Jay Frosting Music by Mindcube Podcast 169: Helaine Olen, Pound Foolish: Exposing the Dark Side of the Personal Finance Industry is a post from Consumerism Commentary. New to Consumerism Commentary? Start here.

The Consumerism Commentary Podcast has been on hiatus this summer, but Tom and Jay are returning soon with monthly podcasts featuring interviews with authors, industry experts, and CEOs. In the interim, I will be featuring a few Podcast Special Editions, hosted by myself, also featuring a number of great interviews. The first of these Special Edition podcasts features the most-read personal finance columnist on the internet, Liz Weston. Liz recently published a new book in electronic format, There Are No Dumb Questions About Money, available from Amazon.com and iTunes. We discuss the questions and answers from the book as well as what led the author to begin writing about personal finance. We also talk about how blogging — and the internet in general — changed the shape of the discussion about personal finance. Liz Weston’s website, AskLizWeston.com, is always open for feedback and questions from readers and listeners, and her column is available on MSN Money. [00:00] Introduction from Luke Landes – [00:38] Interview with Liz Weston – [00:48] There Are No Dumb Questions About Money – [02:06] Fear of asking questions – [07:40] Liz Weston’s background, family life, and journalism – [10:35] Effect of recession on financial questions – [12:03] How to handle a mortgage you can’t repay and rebuild credit – [14:49] Frugal fatigue – [15:45] Is debt elimination too highly prioritized against retirement savings? – [20:10] Saving for retirement with low cash flow – [22:37] Saving for children’s college education – [28:55] Long-term commitments with opposing financial philosophies – [31:45] Today’s biggest financial issue for families – [33:56] The explosion of personal finance blogging – [37:22] How the internet changed Liz Weston’s writing [40:05] End Podcast 168: Liz Weston, There Are No Dumb Questions About Money is a post from Consumerism Commentary. New to Consumerism Commentary? Start here.

Today on the Consumerism Commentary Podcast, Tom Dziubek talks with Ellyn Spragins, speaker, author, and editor of the Letters To My Younger Self series of books. Ellyn talks to Tom about how women differ from men in regards to success, especially regarding finding and developing their inner talents. They also discuss her “Letters to My Younger Self” series of books, including what inspired her, the celebrities who contributed, as well as one of her favorite letters. Consumerism Commentary Podcast Women & Success: S07E11 / 167 jQuery(document).ready(function($) { $('#wp_mep_5').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Download – RSS – iTunes Table of contents [00:00] Introduction from Tom Dziubek [00:37] Interview with Ellyn Spragins – [00:51] Ellen’s inspiration to help women – [03:48] How women are different from men in finding and developing talents – [05:44] What women need to know about success – [07:28] Rule for Success #1: Be selfish – [08:15] Rule #2: Be bad – [08:29] Rule #3: Be “dyslexic” – [09:21] Rules #4 and #5: Study your gut & don’t be men in pink – [10:45] How “Letters To My Younger Self” got started – [12:42] Finding celebrity contributors at the beginning – [16:00] Finding contributors after the first book – [18:19] One of Ellyn’s favorite letters – [21:13] Ellyn’s seminars [26:52] End We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name. Theme music by Mindcube. Podcast 167: Women and Success is a post from Consumerism Commentary. New to Consumerism Commentary? Start here.

Today on the Consumerism Commentary Podcast, Tom Dziubek talks with Gregg Wind, CPA at the accounting firm of Wind & Stern, about income taxes related to children’s summer jobs. First, Gregg and Tom talk about tax advantages for parents who have a business and are thinking about hiring their children as employees. Afterward, they discuss summer jobs for kids in general and things that they should consider doing for their income taxes. Consumerism Commentary Podcast Income Taxes and Your Kids’ Summer Jobs: S07E10 / 166 jQuery(document).ready(function($) { $('#wp_mep_6').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Download – RSS – iTunes Table of contents [00:00] Introduction from Tom Dziubek [00:37] Interview with Gregg Wind – [00:51] Hiring your kids to work at your family business – [01:47] Avoiding the “kiddie tax” – [03:50] Payroll tax impact – [05:10] Tax-free benefits – [05:58] IRA contributions for kids – [07:39] Summer jobs for kids: explaining the W-4 form – [10:30] What a teen should withhold for their taxes – [13:37] Working as an “independent contractor”: the 1099 form – [16:45] Declaring tips as income – [18:10] Kids who want to start a business – [22:04] Self-employment tax even though standard deduction exceeds income [25:03] End We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name. Theme music by Mindcube. Podcast 166: Income Taxes and Your Kids’ Summer Jobs is a post from Consumerism Commentary. New to Consumerism Commentary? Start here.

Today on the Consumerism Commentary Podcast, Jay talks with John Ulzheimer about credit scores and managing your credit history. They also discuss the deceptive marketing of pre-paid debit cards, how a FICO score is built and the unfortunate history of credit repair firms. Consumerism Commentary Podcast Credit Scoring and Management: S07E09 / 165 jQuery(document).ready(function($) { $('#wp_mep_7').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Download – RSS – iTunes Table of contents [00:00] Introduction from Jay Frosting [00:34] Interview with John Ulzheimer – [00:55] Credit scores are not used by employers; part of your credit report can be – [03:09] Different situations call for different details on you – [04:19] Data repositories vs. reporting agencies vs. brokers – [06:37] The history and bad reputation of credit repair agencies – [09:24] Today’s credit repair environment is much better – [11:04] When and why to hire a credit repair firm – [12:55] Creditworthiness can be affected by where you buy things – [14:58] The buckets and the scorecards that make up a FICO score – [17:17] Can your credit be affected by where you live? – [20:28] Too many consumers learn the hard way about credit management – [22:04] The problems with prepaid debit cards [27:26] End We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name. Theme music by Mindcube. Podcast 165: Credit Scoring and Management is a post from Consumerism Commentary. New to Consumerism Commentary? Start here.

Today on the Consumerism Commentary Podcast, Jay talks with Shannon Nutter-Wiersbitzky about My Classroom Economy, a model classroom curriculum designed by Vanguard. Shannon is the Director of Market Research at The Vanguard Group. They discuss many aspects of bringing a real world economy model into the classroom, where students earn salaries and have to pay rent, and the temptations of spending versus saving and earning even more. Consumerism Commentary Podcast Vanguard’s My Classroom Economy: S07E08 / 164 jQuery(document).ready(function($) { $('#wp_mep_8').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Download – RSS – iTunes Table of contents [00:00] Introduction from Jay Frosting [00:32] Interview with Shannon Nutter-Wiersbitzky – [00:43] Simulating an economy in school with jobs, rent and more – [02:13] It integrates with a curriculum and lasts all year – [03:51] Salaries are different and jobs have qualifications – [04:23] Examples of bonuses and fines – [05:30] Introducing bigger risks and investments in higher grades – [07:51] Teaching long-term thinking to a short-term society – [09:01] Is it possible to fail the program? – [10:02] Taxes are introduced in grade 7 and then get more robust – [10:38] Developing the program with Rafe Esquith – [11:48] Kids don’t have to start the program in Kindergarten – [12:29] The program is free and doesn’t even need registration – [13:41] Can kids pay each other with classroom dollars? – [14:40] Matching the program with standards developed by JumpStart and Common Core Curriculum [15:12] End We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name. Theme music by Mindcube. Podcast 164: Vanguard’s My Classroom Economy is a post from Consumerism Commentary. New to Consumerism Commentary? Start here.

Today on the Consumerism Commentary Podcast, Tom Dziubek and Flexo speak with J.D. Roth, founder of the personal finance website Get Rich Slowly about the topic of personal transformation. J.D. discusses many of the changes he’s gone through recently including what inspired him to transform himself and what he did to prepare himself for the changes. He also discusses his future with Get Rich Slowly and projects that he is currently working on. Consumerism Commentary Podcast Personal Transformation: S07E07 / 189 jQuery(document).ready(function($) { $('#wp_mep_9').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Download – RSS – iTunes Table of contents [00:00] Introduction from Tom Dziubek [00:39] Interview with J.D. Roth – [01:00] Personal transformation – [01:47] The scale of changes involved – [02:26] Learning Spanish – [05:31] Contentment and “lifestyle inflation” – [07:25] Complacency and low level changes – [09:16] J.D. gets into shape – [11:10] Trigger points for starting change – [13:09] Achieving financial stability first – [13:37] J.D. announces future with Get Rich Slowly – [15:14] Obstacles to motivation – [17:28] Books that inspired J.D. – [21:22] Preparing yourself to “live in the moment” – [22:22] How people can prepare themselves financially – [24:01] Performing an effective self reflection – [25:54] J.D.’s projects [29:57] End We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name. Theme music by Mindcube. Podcast 163: Personal Transformation, J.D. Roth is a post from Consumerism Commentary. New to Consumerism Commentary? Start here.

Today on the Consumerism Commentary Podcast, Tom Dziubek speaks with Aloysa, founder of the personal finance website My Broken Coin about how her mother came to America by becoming a mail order bride. She talks about the decision to find an overseas husband, what the search process was like, the risks involved and how the decision turned out. Aloysa also talks about how she came to America and how the transition from the former Soviet Union affected her spending habits. Consumerism Commentary Podcast My Mother Was a Mail Order Bride: S07E05 / 187 jQuery(document).ready(function($) { $('#wp_mep_10').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Download – RSS – iTunes Table of contents [00:00] Introduction from Tom Dziubek [00:38] Interview with Aloysa – [00:51] Life in Lithuania – [02:17] Becoming a mail order bride – [04:02] Risky business – [05:06] The costs involved – [06:59] The types of people who solicit mail order brides – [09:33] The dating process – [10:33] What could happen if a marriage doesn’t work – [11:32] Achieving American citizenship – [13:02] Aloysa’s mom finds her husband – [15:58] The husband’s first visit to Lithuania – [18:50] Their current marital status – [19:10] Aloysa comes to America – [20:07] Personal finances: going from communism to capitalism [25:04] End We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name. Theme music by Mindcube. Podcast 161: My Mother Was a Mail Order Bride is a post from Consumerism Commentary. New to Consumerism Commentary? Start here.

Today on the Consumerism Commentary Podcast, Jay Frosting and Luke Landes talk with Tavis Smiley, host of Tavis Smiley on PBS. With Dr. Cornel West, Tavis Smiley is the co-author of The Rich and the Rest of Us: A Poverty Manifesto. The interview in today’s podcast was scheduled to include Cornel West as well, but a court appearance prevented him from participating. They discuss the causes and possible solutions of the growing problem of poverty in America, which Tavis says is a threat to democracy itself. Read this Consumerism Commentary article for more discussion about poverty with Tavis Smiley. Consumerism Commentary Podcast The Rich and the Rest of Us: S07E04 / 160 jQuery(document).ready(function($) { $('#wp_mep_11').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Download – RSS – iTunes Table of contents [00:00] Introduction from Jay Frosting [00:33] Interview with Tavis Smiley – [01:08] How many Americans are affected by poverty – [04:03] Who poverty affects and why – [06:55] The social safety net and austerity – [10:26] The role of education – [13:58] How to fix poverty [18:33] End We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name. Theme music by Mindcube. Podcast 160: The Rich and the Rest of Us is a post from Consumerism Commentary. New to Consumerism Commentary? Start here.

Today on the Consumerism Commentary Podcast, Jay Frosting speaks with John Graves, author of The 7% Solution: You Can Afford a Comfortable Retirement. They discuss the unique challenges baby boomers face when planning for retirement. Consumerism Commentary Podcast The 7% Solution: S07E03 / 159 jQuery(document).ready(function($) { $('#wp_mep_12').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Download – RSS – iTunes Table of contents [00:00] Introduction from Jay Frosting [00:33] Interview with John Graves – [00:44] The four money lessons baby boomers probably already know – [03:08] 40% of people close to retirement aren’t prepared – [04:19] Make the most of your last years of work and put off Social Security income – [06:12] Look at income sources aside from a typical salary – [07:11] Managing your own portfolio vs. using a financial advisor – [10:34] How to research stocks and be a value investor – [14:21] This system isn’t right for everybody – [15:34] Health is more important than wealth – [17:35] Giving back through volunteer work [18:17] End We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name. Theme music by Mindcube. Podcast 159: The 7% Solution is a post from Consumerism Commentary. New to Consumerism Commentary? Start here.

Today on the Consumerism Commentary Podcast, Jay Frosting and Luke Landes talk with Kim Palmer, author of Generation Earn and creator of Palmer’s Planners. Consumerism Commentary discussed Palmer’s Planners recently. In the interview, Jay, Luke, and Kim discuss household financial planning for right-brained thinkers and money issues for young people and women. Consumerism Commentary Podcast Palmer’s Planners: S07E02 / 158 jQuery(document).ready(function($) { $('#wp_mep_13').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Download – RSS – iTunes Table of contents [00:00] Introduction from Jay Frosting [00:33] Interview with Luke Landes and Kim Palmer – [00:49] Overview of Palmer’s Planners for right-brained thinkers – [03:15] Break down your overall strategy into low-level tactics – [04:18] Selling on Etsy to find more visually-focused customers – [06:10] Traditional publishing vs. self-publishing – [10:17] Becoming a mother inspired new planners and ways of working – [11:39] Does HBO’s “Girls” reflect real attitudes about money? – [15:53] Understand student loan rules and keep up with changes – [17:37] Trends among women’s salaries and priorities [21:10] End We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name. Theme music by Mindcube. Podcast 158: Kimberly Palmer, Palmer’s Planners is a post from Consumerism Commentary. New to Consumerism Commentary? Start here.

Today on the Consumerism Commentary Podcast, Jay Frosting and Flexo talk with Matt Schulz, Vice President of Content for InvestingAnswers.com. They discuss the implications of a recent legal ruling that excludes credit card application fees from the limit on fees that credit card issuers can charge within the first year. Consumerism Commentary Podcast Credit Card Application Fees: S07E01 / 157 jQuery(document).ready(function($) { $('#wp_mep_14').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Download – RSS – iTunes Table of contents [00:00] Introduction from Jay Frosting [00:33] Interview with Flexo and Matt Schulz – [00:49] Challenging the 25% fee limit specified in the Credit CARD Act – [06:00] Will application fees be more pervasive now? – [07:14] Are these fees limited to those with bad credit? – [09:18] A very high interest rate is worse than almost any other option – [12:34] The CFPB is still hearing public comments on this decision – [13:41] Application fees aren’t refundable and don’t guarantee credit – [14:21] The CFPB is trying to get more done before a possible Executive Branch change (addressing Republican criticisms of the bureau) – [18:33] Reduction in debt is part frugality and part banks reducing credit [20:02] End Update: We were mistaken during the recording regarding whether First Premiere refunds its application fee. Here’s what the terms and conditions say: “Right to Reject: You may still reject this plan, provided you have not used the Credit Account or paid a fee after receiving a billing statement. If you do reject the plan, you are not responsible for any fees or charges, including any Processing Fee(s) paid prior to receipt of your Account Opening Disclosures. Any such Processing Fee(s) previously paid will be refunded upon rejection of the plan.” It also says this: “Refund Disclosure: We will refund your Processing Fee and initial fees (those fees that are billed at the time of account opening) if (1) you have not used your Card for a Purchase or Cash Advance; and (2) you have not paid a fee after receiving a billing statement. We will refund any partial payment of the Processing Fee if you do not open your Credit Account within 85 days of approval. We will refund any Credit Limit Increase Fee charged to your Credit Account if you notify

Today on the Consumerism Commentary Podcast, Jay Frosting speaks to Joe Knight, co-author of Financial Intelligence: An Illustrated Guide to Knowing What the Numbers Really Mean. They discuss why and how employees in non-financial roles should learn to read financial statements, largely because accounting relies on a lot of educated guesses and biases. Consumerism Commentary Podcast Financial Intelligence: S06E25 / 156 jQuery(document).ready(function($) { $('#wp_mep_15').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Download – RSS – iTunes Table of contents [00:00] Introduction from Jay Frosting [00:34] Interview with Joe Knight – [00:48] Get a good working knowledge of how to read statements – [02:29] Why approach financial statements education through a comic book? – [03:53] Teaching through story-telling, including the fraud at WorldCom – [09:33] Accounting relies on guessing and biases (“cooking the books”) – [15:24] Many companies fail a basic finance test – [17:10] Three things that improve companies: training, access to financial data, and profit-sharing – [19:25] What is and isn’t in the graphic novel version – [20:02] Why Wall Street is increasingly focused on cash flow [22:12] End We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name. Theme music by Mindcube. Podcast 156: Financial Intelligence is a post from Consumerism Commentary. New to Consumerism Commentary? Start here.

Today on the Consumerism Commentary Podcast, Jay Frosting talks with Julie Clow, author of The Work Revolution. They talk about differing energy cycles, ditching time cards & meetings, and measuring impact instead of employee activities. Consumerism Commentary Podcast The Work Revolution: S06E25 / 155 jQuery(document).ready(function($) { $('#wp_mep_16').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Download – RSS – iTunes Table of contents [00:00] Introduction from Jay Frosting [00:32] Interview with Julie Clow – [00:42] Work is now global and 24/7, leading to over-saturation – [04:25] We shouldn’t use rules leftover from assembly line businesses – [06:26] Questioning assumptions about schedules, time cards and meetings – [08:06] Work doesn’t need to seem unpleasant – [11:10] Julie’s quiz to determine how poorly your business rates on a freedom scale – [17:18] Measuring impact instead of activities – [21:41] Implementing a Results-Only Work Environment as a startup vs. as an existing business – [22:40] Employee freedom leads to more responsibility and accountability – [25:07] Humans have different energy cycles [29:15] End We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name. Theme music by Mindcube. Podcast 155: The Work Revolution is a post from Consumerism Commentary. New to Consumerism Commentary? Start here.