Afford Anything | Get Smarter With Money

Latest Episodes:

How to Lead with a Vision, with Michael Hyatt Jun 05, 2020

Show notes

#259: Leadership comes in all forms. Whether you’re a small business owner, a manager or department head at work, or the head of a volunteer organization, having a crystal clear vision is critical to success. Without a clear vision, you’re likely to stumble along a path that leads to nowhere -- or worse, a dead end. Wouldn’t it be better to have an idea of where you’re going?

Michael Hyatt, a prolific bestselling author on the topics of business and leadership, shares the pitfalls of not having a vision and 10 ways to nail down a solid vision that will lead you to the path you want to be on.

Check out bonus resources: http://visiondrivenleader.com/afford

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PSA Thursday -- Actions Speak Louder Than Words Jun 04, 2020

Show notes

We have muted the podcast thusfar this week, in support of the #amplifymelanatedvoices movement and in support of the #theshowmustbepaused movement.

We have assembled a list of resources that highlight books, websites, podcasts, nonprofit organizations and GoFundMe campaigns that I would like to direct your attention to in lieu of our normal programming. These resources can be found at https://affordanything.com/psathursday

We are also matching $3,000 in donations to the Committee to Protect Journalists, the Atlanta Community Food Bank, and the Children's Development Association. Please DM me on Instagram with a screenshot of your donation and I'll match it. Instagram: paulapant

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PSA Thursday - Your Guide to Giving: How to Donate, Volunteer and Practice Spontaneous Kindness May 29, 2020

Show notes

Let's start with the good news: the majority of U.S. households, 6 in 10, donate money to nonprofits and charities, and 1 in 4 adults in the U.S. volunteer their time and talent.

The only way our society is going to get through the struggles and the stresses that we face is if we are good to each other. Compassion and common humanity are crucial.

In this PSA episode we discuss strategies around giving, including how to donate money and volunteer time effectively, as well as how to embrace the opportunity to practice informal, random, spontaneous acts of kindness.

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Ask Paula: Can I Quit My Job Before I'm Financially Independent? May 26, 2020

Show notes

#258: “Burned Out in Boston” wants to reach financial independence.

But she’s not sure she can stick it out in Boston much longer.

She and her husband want to move to an area that doesn’t have many job prospects, and they want to make this leap soon, ideally before they reach FI. How do they know when it’s the right time to jump ship to their dream location?

We tackle this topic, plus four other questions about stock market and real estate investing strategy, on today's Ask Paula episode.

Enjoy!

For more information, visit the show notes at https://affordanything.com/episode258

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How to Stop Screwing Up Our Finances, Even in a World That Leads Us Astray -- with Dr. Dan Ariely May 18, 2020

Show notes

#257: “The checking account is like the trash can of personal finance.”

Today’s podcast guest, the famed behavioral economist Dr. Dan Ariely, is not a fan of checking accounts. Or supermarket end caps. Or anything that distracts us from our financial goals.

In this episode, he explains why.

Dan Ariely is one of the world’s most renowned behavioral economists. He’s the James B. Duke Professor of psychology and behavioral economics at Duke University.

His TED Talks have been viewed more than 15 million times. In 2018, he was named one of the 50 most influential living psychologists in the world.

He’s the New York Times bestselling author of many books, including Predictably Irrational, a book that challenges our assumptions about our ability to make rational decisions. He also wrote Dollars and Sense, a book about our cognitive biases, and The Honest Truth About Dishonesty, a book about how we lie to everyone, including ourselves.

For more information, visit the show notes at https://affordanything.com/episode257

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PSA Thursday: How Can I End 2020 in a Stronger Position Than I Started It? May 14, 2020

Show notes

How can you find business and investment opportunities in today’s tough pandemic bear market?

What should you do to emerge from 2020 stronger than you started?

We cover 7 specific, immediate actions that can set you up to succeed in this recession. Here's a peek: think about hiring a team, create an original piece of work, take online classes, and keep your plans intact (even if that means quitting an unfulfilling job).

For more information, visit the show notes at https://affordanything.com/psathursday

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Ask Paula: Bonds Are Tanking. Should I Switch to Real Estate Instead? May 11, 2020

Show notes

#256: Jon is wondering if now is a good time to move his RRSP into a tax-free savings account, given the market downturn. He knows you can’t time the market, but the opportunity is tempting. What should he do?

Laurel’s question revolves around the CARE Act and early withdrawal from a 401k. She needs to rebalance her 401k and wants to buy a rental. Instead of selling stocks, should she sell bonds as a form of rebalancing and to withdraw for a rental property?

After seeing so many businesses experience financial hardship, Rebecca and her husband are curious: why don’t companies have emergency funds?

Salome sees the stock market downturn as an opportunity for tax-loss harvesting, but does this hold if you’ve held stocks for less than a year?

Sheena has the option to purchase company stock at a 15 percent discount through an Employer Stock Purchasing Plan. However, it’s volatile right now. Should she contribute the maximum amount, or nothing?

My friend and former financial planner Joe Saul-Sehy joins me to answer these questions. Enjoy!

For more information, visit the show notes at https://affordanything.com/episode256

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PSA Thursday: How Is The Pandemic Affecting the Housing Market? May 07, 2020

Show notes

Before the pandemic, the U.S. housing market was strong. Home prices were at historic highs. Borrowers were more qualified than ever, with two-thirds of mortgage originations going to borrowers with excellent credit. As of January 2020, delinquencies (borrowers more than 30 days late on a payment) reached a 20-year low.

How has the pandemic affected the market? Are we due for another spate of foreclosures? What's going to happen to housing supply? What about demand? Are buyers still buying? Are sellers still selling? And if you're thinking about buying a home -- either as an owner-occupant or as a rental property investor -- what do you need to know about the new pandemic landscape?

We dig into depth in this short, researched-packed PSA Thursday episode.

For more information, visit the show notes at https://affordanything.com/PSAThursday

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How Your Personality Affects Your Finances, with Dr. Sarah Stanley Fallaw May 04, 2020

Show notes

#255: When a crisis hits, do you stay calm and collected, or do you launch yourself down a rabbit hole of worry and worst-case scenarios?

When the stock market spirals downward, do you shrug and stay the course, or do warning bells explode in your brain?

When news of the pandemic hit, was your first instinct to form a calm and reasoned action plan, or rush to the store to buy months of supplies?

Your personality influences your reactions to these scenarios.

Today’s guest, Dr. Sarah Stanley Fallaw, has a Ph.D. in applied psychology and is the founder of DataPoints, a research firm based on the science of building wealth.

What links between personality and money management has research uncovered? We discuss this topic in today’s episode.

For more information, visit the show notes at https://affordanything.com/episode255

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Ask Paula: Should I Invest During the Pandemic? May 01, 2020

Show notes

#254: Lydia earns income as both a 1099 contract worker and a part-time W2 employee. She filed for unemployment as a W2 worker, but can’t find information on how to file as a contractor. Is there a process contractors can follow to file for unemployment?

Florina and her husband have $70,000 in cash to invest. Where should they put this money in light of the current market?

Ali and his wife saved eight months of living expenses in their emergency fund in case they get laid off during the pandemic. Is this too excessive?

Danielle wants to take advantage of pandemic stock prices - what should she invest in?

Anonymous in Real Estate wants to buy a multifamily property with the equity in their first rental as a downpayment. Their husband doesn’t want three mortgages. Should they accelerate mortgage pay-down and be one mortgage down in four years?

I answer these five questions in today’s episode. Enjoy!

For more information, visit the show notes at https://affordanything.com/episode254

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