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Transplosion with Jim Munchbach
58 minutes | Nov 12, 2014
How Millionaires Buy Used Cars
This week’s assignment in Personal Finance is to find the perfect car for under $5,000. Using the tools listed below, do your own research to find the right car for you. 1. Write Your Story Write an article (800 – 1000 words) describing how you made your decision and tell me how you used the resources listed below in your research to find the best car to fit your needs. You may want to share how you came to believe that this is the perfect car for you. Did you choose a fine luxury car or a sturdy pick-up truck. Why? Was it a two-door sports car or a five-door mini-van? Explain why this particular model was the right car for you and then tell me how you found just the right vehicle and why it was the best value out of all the vehicles you looked at during your research. 2. Determine The Value of Your Vehicle Edmunds – Used Car Research and Pricing Guidance used by insurance companies and people like you: http://www.edmunds.com Kelley Blue Book – Used Car Research and Pricing Guidance used mostly by consumers and less by insurance companies. I’ve bought and sold a hundred used cars and I always start here: http://www.kbb.com AutoTrader – Used Car Search. This is a great place to shop and compare prices AFTER you determine which model is right for you: http://www.autotrader.com Craigslist – Used Car Search is another great place to find a used car. I bought my Harley Davidson FatBoy here: http:www.craigslist.org 3. Check CarFax CARFAX – Vehicle History Reports can be a very valuable resource. Listen to this episode to learn the secrets of making the best deal on a used car from the experts. For your assignment, be sure to tell me the details of the vehicle you want to buy: http://www.carfax.com (were you able to find any information about the vehicle you want to buy on CarFax?) 4. Have Fun With The Assignment As always, my purpose in this assignment is for you to learn something practical. Our topic this week is Bargaining and Negotiating. During class, we will go over Seven Rules to Negotiate Anything – including your next car purchase. 5. Listen to This Interview and Comment My friend, James Kinson, is an expert at buying used cars. During our interview, we had a lot of fun outlining What Matters Most in the used car buying process. Share this with anyone who is in the market for a used car. The Millionaire Next Door probably paid cash for her car. You already knew that but did you know she bought it used? Learn how to buy your next car – listen now and again when you head out the door to inspect your next potential used car. Here’s a very rough outline of our interview: 1. Your Mindset and Your Research Tools2. The Actual Inspection3. Test Drive Like a Master Mechanic James Kinson can teach you how to save money on your next used car. Follow James @CashCarConvert or visit his blog – Click Here. James has come to believe that paying cash for cars makes sense. James spent time reading and studying both Dave Ramsey and Dr. Thomas J. Stanley. Dave Ramsey says “Debt is dumb.” While Dr. Stanley helps us understand what most millionaires really look like. James and I both feel like our lives are better for having discovered these two leaders along with others who have help shape our thoughts and money management methods.
25 minutes | Oct 15, 2014
7 Golden Rules to Negotiate Anything
1. Negotiate Anything and Everything. Some consumers often fail to even attempt to negotiate major - or minor - purchases. Imagine the cost - or the value - over your lifetime if you decide to pay full price for everything all the time. What do you think? Would that be a 10% cost if you never negotiated anything and you never engaged in any kind of bargain-hunting? Another way to think about it is the value over your lifetime - when you decide to master a few basic skills related to negotiating. 2. Exercise Your Walk-Away-Muscle. 3. Practice the Daily Discipline of Patience. In a face-to-face negotiation, you have to be patient to receive the best offer. 4. Comparison Shopping Builds 3 Kinds of Muscle; Mental (knowledge is power), Emotional (taking time to comparison shop requires the exercise of self-control), and Financial Muscle. One of the keys to smart negotiation has always been comparison shopping. You probably won’t be able to change the terms of an offer you get in a retail store, but if you have done your comparison shopping, you will know if the offer is worth considering. 5. Cash is King in Bargaining. I’m not just talking about the green stuff here. When you walk into a car dealer with a cashiers check from your bank, you hold the power of cash. We all know its true, cash talks. 6. Silence is Golden so Shut Up. I would never tell you to shut up in person. That would be rude. When you’re negotiating, however, you might want to think more and talk less. 7. Timing. Timing. Timing is Everything! In this episode, I’ll give you some tips about saving big bucks when you get ready to buy your next car. Now, take a minute to tell me your story about negotiating. I’m waiting to read your story. Really… Please. I have time and I’m very patient. Thanks for listening.
37 minutes | Sep 20, 2014
Chase Bank Ultimate Rewards with Jason Steele
Jason Steele is an expert on Credit Card rewards and the masterful use of Credit Cards in general. In this episode, Jason Steele and Jim Munchbach talk about strategies for maximizing the benefits of your Chase Bank Ultimate Rewards cards.
35 minutes | Sep 6, 2014
The Best Budget That Works
In this episode, Roger Whitney, CFP and Jim Munchbach, CFP outline the principles and process for building The Best Budget That Works. If you're a student at the Bauer College of Business at University of Houston, you have already received the show notes for this episode in BlackBoard Learn. If you're not a student of Personal Finance and you would like to be on our mailing list, visit iMakeYourMoneyCount.com today.
49 minutes | Mar 24, 2014
Farnoosh Brock Prolific Living Life Coach
Farnoosh Brock is my featured friend this week; I just pre-ordered her The Healthy Smoothie Bible - available for pre-order. If you're looking for a little extra inspiration to lose weight, get in shape, or if you want to start living the life you know is possible, you might want to join me. Let's share a healthy smoothie together online! I hope you enjoy this interview as much as I did. Thank you, Farnoosh, for being my special guest this week on The Social Business Podcast. Learn more about Farnoosh Brock at her website: ProlificLiving.com
39 minutes | Mar 20, 2014
7 Rules to Negotiate Credit Cards with Jason Steele
Visit iMakeYourMoneyCount.com for show notes, please.
64 minutes | Feb 21, 2014
The Ultimate Guide to Cash Cars
Visit http://socialbusinessauthority.com/ to see the show notes for this episode.
40 minutes | Feb 3, 2014
Dr Ryan Gray Epic Credit Challenge
Visit iMakeYourMoneyCount.com to see the show notes for this episode.
46 minutes | Nov 13, 2013
36 Todd Tresidder Financial Mentor and Investment Educator
Todd Tressider is a Financial Coach, Mentor, and Investment Educator. We met at #Fincon13 in St. Louis and spent a few minutes talking about money, life, and relationships. Mostly, we talked about financial stuff. Todd promised to come back and do a part two when his new training series launches later this year. Until then, please take a look at the great FREE resources Todd Tresidder has designed for Financial Freedom for Smart People!
34 minutes | Oct 31, 2013
35 Paula Pant Says You Can Afford Anything
Paula Pant is a new friend I met at #FinCon13 in St. Louis. Paula writes an excellent financial blog. AffordAnything.com is based on one radical idea: You can afford anything. You can’t afford everything. But you can afford anything. Paula Pant has a lot of encouraging words to anyone who's trying to figure out how to manage money and it's my pleasure to introduce her to our students at the Bauer College of Business at University of Houston. See you at #FinCon14
34 minutes | Oct 11, 2013
34 Five Rules For Avoiding Buyers Remorse
Five Rules For Avoiding Buyers Remorse. 1. Research First! 2. Answer The Question: WHY 3. Think of All the OTHER Things You Could Do With THAT Money 4. Sleep On It! 5. Partner Up
35 minutes | Oct 10, 2013
33 Doug Nordman Retirement Before Age 50
Doug Nordman Age: 46 Retirement Age: 41 Residence: Mililani, Hawaii Career: Officer, U.S. Navy "After 20 years of active service in the military, you can retire with a pension worth about half your final basic pay. I've read that more than 85 percent of officers who retire start a second career. I went through all the assessments, which said I should be a nuclear engineer or a midlevel manager. That was pretty much what I was doing. "I was griping about it to my dad, and he asked, 'Didn't you save anything over the last 20 years?' I had never thought of that before. So in June 2002, after my 20 years were up, I retired. "My wife and I have always tracked our expenses and lived below our means. We were able to figure out what our expenses would be, and we have a portfolio large enough to sustain us through the remainder of our lives. Part of that is in a Thrift Savings Plan, which is like a 401(k) for government and military employees. I also receive $36,000 a year from my pension, which covers our mortgage, groceries and most other expenses. "My wife, who was also in the Navy, is in the reserves, and that can pay as much as $15,000 a year, though usually it is much less. Health care and inflation are solved by the military. The pension comes with a cost-of-living adjustment, and you get cheap health insurance - $460 a year covers the family. What are you going to do all day? I call it being responsible for your own entertainment. Now I have the chance to do all the things I have always wanted to do. There is surfing, for example. I check the surf every morning. If the day is going to be good for surf, it doesn't matter what home improvement projects I might have on my to-do list - I adjust my day to allow for a few hours for surfing. I gotta have my priorities! Boredom has never been a problem. My daughter, who is 14, has turned into a surf monster, so on her days off or the weekend we're both down there. "I have been growing my hair since the day I retired. The joke is that I have saved hundreds of dollars by not having haircuts. For 40 years - first at home, then in the military - people told me how long my hair had to be. This is the first time in my life that I was ever in charge of my own hair length. It sounds silly, but it is my version of a teenage rebellion and a midlife crisis, all at once."
27 minutes | Oct 2, 2013
32 The Parental Interview About Money
The purpose of this assignment is to better understant the attitudes, beliefs and values about money, life, and relationships (in your own family).
20 minutes | Sep 26, 2013
31 Learning to Read People Better
For millennia, philosophers have observed four distinct types of people. The ancient Greeks, for example, believed the dominance of particular body fluids caused people to think and act in particular ways. 4 Kinds of Personality Sanguine people are excited, upbeat, and friendly. Cholerics are determined, disciplined, and goal-oriented. Phlegmatic people are easy-going and slow to make decisions. And people who are melancholy are reflective but often pessimistic. 4 Behavioral Types In recent years, a host of models have been produced that depict four distinct personalities or behavioral types. A few of these measure people on two axes: one axis is how relational or isolated a person prefers to be, and the other is whether the person is more inclined to accomplish tasks or analyze concepts. In 1928, William Marston wrote The Emotions of Normal People, introducing the DISC assessment. His four categories of people were: D (dominant), I (influence), S (steady), and C (conscientious). DISC Profile Dr. John Geier, the former Chairman of the Human Behavior Science Department at the University of Minnesota, developed the currently popular DISC profile in 1977.** (Perhaps the most widely used version of the DISC model today is by Performax Systems International, Carlson Learning Company, and Inscape Publishing. For more information, go to their web site: www.discprofile.com.) True Colors Dr. Roger Birkman, of Birkman & Associates in Houston, Texas, developed an extensive set of instruments designed primarily for business applications. His book, True Colors, outlines the four behavioral types using the colors of red, green, blue, and yellow. Dr. Birkman’s range of assessment tools can provide an analysis of individuals, a manager and an employee, teams, career path, and much more.
29 minutes | Sep 13, 2013
30 Order Your Free Credit Report Today
Please go to iMakeYourMoneyCount.com to see the show notes for this episode. Jim is attending the Launch Conference and this episode is being posted early for our students at the Bauer College of Business at University of Houston. If you're listening in iTunes, please take a minute to review the show. See you next week Jim
16 minutes | Sep 13, 2013
29 The Power of Spending Plans
In this episode, Jim shares a story about a couple who wanted to build their dream house. The Blueprint for Financial Success can help you build your dream house or your life plan. Spending Plans are more powerful than budgets once you get the big idea.
36 minutes | Sep 6, 2013
28 The Cinnamon ToothPick Store is Closing
The story of the Cinnamon ToothPick Story helps to illustrate the 3 Laws of Personal Finance and Five Important Principles for Money Managers: 1. Knowing Why Helps 2. Good Work Always Pays 3. A Little Planning Goes a Long Way 4. Spend Less - Save More 5. Invest in Yourself First 6. Pay it Forward In 4th grade, I was the Cinnamon ToothPick Guy and my business was booming. At that time (back in 1971) my mom was my #1 investor and she was also the supplier of the cinnamon oil (cinnamon oil is a controlled substance in some jurisdictions because it can melt plastic, cause cancer, and cause severe burns to skin, lips, eyes, and other soft tissue). The cost for 30 ml of Cinnamon Oil in 1971 was $3.27. Today, just for fun, I stopped by Walgreens to make a batch of my famous Cinnamon ToothPicks. The cost for the Cinnamon Oil today: $89.56 for the same 30 ml container. Toothpicks are about the same price. The license you need to sell Cinnamon ToothPicks and the liability insurance required to get the license is, well, M O R E. Back in 4th Grade, Osha, EPA, and the IRS weren't paying much attention to my Cinnamon ToothPick Store. Today, I can't afford to sell Cinnamon ToothPicks so the store is closing. I learned a lot in those early days of business. The future belongs to the masters of Social Business. A lot has changed, yes. But even more remains the same. Personal Finance still has a few basic rules that will never change. The first law of Personal Finance: Spend Less Than You Earn - Save More for What Matters Most
85 minutes | Aug 30, 2013
27 Students of Personal Finance Meet Their Professors
In this overly long podcast episode, Professors of Personal Finance at the Bauer College of Business at University of Houston discuss Day One of class among other things related to personal finance. Welcome to our new students! In this episode, I ask, suggest, beg for 5 volunteers in our Personal Finance class to share your Extra Credit assignments - in audio - right here on iMakeYourMoneyCount - the weekly podcast about money, life, and relationships. I really hope you'll help me out! Jim
45 minutes | Aug 23, 2013
26 Social Business Proof - Your Work Matters
Please visit iMakeYourMoneyCount.com for show notes for this episode. Join us next week for 12 Collegiate Lessons in Personal Finance. On today's show, you will hear Jim Munchbach share the Three Laws of Personal Finance as well as an interview with Jared Easely and Dustin Hartzler - WordPress tips.
33 minutes | Aug 16, 2013
25 What If You Could Change Anything
If i had to pick Three Words to describe my new friend and Change Anything innovator, I'd say Al Switzler is a man filled with:Purpose, Passion, and Intention. Al Switzler is the four-time New York Times best-selling co-author of Crucial Conversations, Crucial Accountability, Influencer, and Change Anything. He is also an acclaimed keynote speaker - you can watch and listen to Al on Youtube - great Free Resource! Al is consultant and co-founder of VitalSmarts, an innovator in corporate training and leadership development. For more than 30 years, Al has served as an expert in change management, interpersonal communication and corporate training. Al has a Cavernous Pool of corporate experience, knowledge, and skill - especially as a gifted communicator and thought leader. Al has worked with an impressive list clientele including: AT&T, Xerox, IBM, Sprint, Ford Motor Company, BASF, Philips, Lockheed Martin Aerospace, and Intermountain Health Care and many others... His company, VitalSmarts, combines three decades of original research with 50 years of the best social science to help social business leaders and organizations change human behavior while making quantum leaps in performance. Al's Company has consulted with more than 300 of the Fortune 500 companies and they've trained more than one million people worldwide. www.vitalsmarts.com It is my PLEASURE to introduce you to my New Friend Al Switzler - Co-Author of one of my all time favorite books: Change Anything.
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