On the show, today Rich and Marcus discuss millennial money advice learned from the 15 personal finance books Marcus set out to read in 2018. So far Marcus has read 10 of them. The guys share the lessons learned from these books and give you recommendations on which books are most important for your age range. There are different strategies for money management in your 20s, 30s, and 40s and in this 2-part discussion P&B breaks down money management for these three key decades in your life.
Memorable Quotes: “Money is not taught in school. Schools focus is on scholastic and professional skills, not finances. Children spend years in an antiquated educational system studying subjects they will never use, preparing for a world that no longer exists.”
- Be more purposeful with the time you have available.
- Read 10 minutes or 10 pages a day to build your financial education. (Here’s how!)
- If you’re limited to one book, Marcus recommends “The Millionaire Next Door”.
- DINK: Dual Income No Kids.
- Get rich quick schemes DON’T EXIST.
- People born into wealth tend to stay wealthy; people born into poverty tend to stay in poverty. Very few move from the middle class into wealth. But it is possible!
- The average 2-income family today, is worse off than a single income family of a generation ago. (Source:The Two-Income Trap: Why Middle-Class Mothers and Fathers are Going Broke)
Key Takeaway: Reading books about different perspectives on money management and investing can provide you with the knowledge you need to make smart financial decisions throughout the different stages of your life.
Our Fav Tools and Resources
- We created a free guide, The 15 Minute Paychecks & Balances Money Plan: Your Guide to Financial Freedom, exclusively for our email subscribers. Sign-up today and see why just 15-minutes can change the next 15 years of your life.
- Struggle saving money? Sign-up for Digit today!
- Digit analyzes your spending and automatically saves the perfect amount every day, so you don’t have to think about it. More on why we like this great tool.
- Need to collect money or invoice clients? Sign-up for Square.
- Purchase Marcus Debt Free or Die Trying book series on Amazon.
- Are you a financial blogger or podcaster? Are you interested in taking your financial brand to the next level? Or maybe you just want to see the Dulcet Brothers in person! Whatever your motivation may be, FinCon2018 is the place to do it. FinCon is where money & media meet — a great conference that Paychecks and Balances has faithfully attended the last three years. This year they’re taking their talents to Florida, September 26-28. Learn more and purchase your ticket here at: Paybal.co/fincon18
- Visit our *updated* PATREON page for more info! We revamped the page to include a new tier system and even more exclusive information for subscribers. We’re raising funds to grow the show so we can create more great content that helps you get ahead professionally and financially.
Support Paychecks & Balances
- Use PaychecksAndBalances.com/GBR to read all of Marcus GoBankingRates “Smart Money Squad” articles.
- Visit our Debt Free page for more info on available tools and resources. Want us to design a personal finance or career seminar tailored to your group? Contact us!
- LIKE us on Facebook.com/PaychecksandBalances or follow us on Twitter @PayBalances @IamRichJones @THEMarcusGarret and Instagram
Get Our Free Guide
Get our FREE 15-Minute Money Plan today! We will use this to send you emails about our products and special offers. You'll also receive actionable work and money tips and interesting reads that'll keep you professionally and financially woke.