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Maybe you dream of starting your own business, but you don’t know exactly how to break out of cubicle culture, or your current job. On this episode of Teach Me How to Money, we talk to Stash CEO and co-founder Brandon Krieg about how he got the idea to launch a new kind of financial services company, and how the best businesses—including Stash—help to solve customer problems.

Jargon Hack.

What is a volatility?

Volatility

Volatility is the tendency for the returns of stocks, bonds, and markets to fluctuate up and down, and it's a measure of how risky investments could be. Volatility is a normal part of investing.

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Brandon Krieg is the CEO and co-founder of STASH, one of the fastest-growing consumer investing and banking platforms in the U.S., pioneering the future of financial services. Prior to STASH, Brandon spent +15 years in financial services, most recently at Macquarie Securities Group. STASH has been highlighted by Forbes’ “Fintech 50 2019,” as well as the Wall Street Journal as one of the “Top Tech Companies to Watch in 2018.”

The post Podcast: Why I Started Stash with Brandon Krieg appeared first on Stash Learn.

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Buying a home is the biggest purchase that many of us will ever make, and it usually involves taking on lots of mortgage debt. On this episode of Teach Me How to Money, real estate pro Natali Morris sheds some light on the home buying process, and why it might help to purchase property that produces income.

Jargon Hack.

What is a mortgage?

Mortgage

A loan that allows you to buy a house or some other property if you don't have all the cash necessary to do so.

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Natali Morris is a former network news anchor turned personal finance educator and motivator. Her specialties include personal finance, business, and technology. She is currently a contributor to CNBC and MSNBC where she was previously an anchor. Prior to that she was an anchor on CBS Interactive. She was also a contributor to CBS News and the TODAY Show. She has also contributed to CNN, ABC News, G4TV, BBC, The CW, Fox News, Fox Business News, and Univision (Spanish-language reporting).

The post Podcast: Teach Me How Real Estate Can Create Income with Natali Morris appeared first on Stash Learn.

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On this episode of Teach Me How to Money, financial advisor Winnie Sun teaches us what it means to be mentally strong, and why getting creative about making money can help you gain confidence and help you take control of your financial life. She’ll also talk about why you should try to increase your financial knowledge every day.

Jargon Hack.

What is an IRA?

IRA

IRA stands for individual retirement account and it's essentially a savings vehicle for your retirement that comes with significant financial advantages.

Find out

Winnie Sun is the Managing Director and Founding Partner of Sun Group Wealth Partners, a trusted financial consulting firm which provides planning services to senior executives, small business owners, celebrities, tech elites, and established families throughout the West Coast. Winnie was previously First Vice President of Wealth Management and Lead Advisor for the Sun Group at Morgan Stanley Smith Barney.

The post Podcast: How To Feel In Control Of Your Money with Winnie Sun appeared first on Stash Learn.

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We’re all used to mom and dad having serious talks with us. But how do we turn the tables and have that all-important talk with our parents about their own financial lives as they get older? On this episode of Teach Me How to Money, financial columnist Cameron Huddleston gives us advice about how to tackle one of the hardest money topics there is—the financial future of your parents, and why we have to do it.

Jargon Hack.

What is a Power of Attorney?

Power of Attorney

A legal document that authorizes one person to take over for another person if that person is unable to perform daily decision-making functions, often related to money and property, due to old age or mental incapacity.

Find out

Cameron Huddleston is the author of “Mom and Dad, We Need to Talk: How to Have Essential Conversations With Your Parents About Their Finances.” She is also an award-winning journalist with more than 17 years of experience writing about personal finance.

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Life’s all about the choices you make and on this episode of Teach Me How to Money, financial expert Paula Pant talks about how you can afford anything, if you make the right choices, and prioritize saving. Also, she’ll tell us all about the time she continued to live with roommates, even after she became a millionaire.

Jargon Hack.

What is passive income?

Passive Income

Income generated without active participation from you, such as from rental income, stock earnings or dividends, and royalties.

Find out

Paula Pant is a podcast host, writer, speaker, and media commentator on financial independence and real estate investing. She is the creator and host of the Afford Anything podcast, which has more than 5 million downloads and is regularly ranked as one of the Top 50 Business podcasts by Apple Podcasts. She is the founder of AffordAnything.com, a personal finance website that draws 2.5 million page views per year and holds more than 52,000 email subscribers.

The post Podcast: How to Earn Passive Income with Paula Pant appeared first on Stash Learn.

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Hey, it’s a fact: Women do money differently than men. In this episode of Teach Me How to Money, financial educator Bola Sokunbi talks about how she addresses women’s needs when it comes to personal finance—and why it’s okay to get emotional.

Jargon Hack.

What is a pay gap?

Pay Gap

The difference between what men and women earn for doing the same work. Women tend to earn less.

Find out

Bola Sokunbi is a Certified Financial Education Instructor (CFEI), finance expert, author, speaker, and founder of Clever Girl Finance, a financial education platform and community for women empowering them to achieve financial wellness and live life on their own terms. Bola has been featured by several media outlets including Time.com, Money Magazine, Forbes, Essence, Black Enterprise, Cheddar TV, ABC News and The Chicago Tribune as well as on several other finance websites and podcasts.

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Did you know that part of how everyone deals with money is inherited psychology from our parents? To overcome bad money psychology, it helps to open up with people about what your financial situation is really like. On this episode of Teach Me How to Money, we talk with media personality Gaby Dunn about what it really means to be bad with money.

Jargon Hack.

What is credit score?

Credit Score JH 2

A point-based rating system that assesses how responsible you are with loans and debt over time.

Find out

Gaby Dunn is a New York Times bestselling author, filmmaker and comedian living in Los Angeles. She and her comedy partner, Allison Raskin, created the successful YouTube and podcast brand Just Between Us. Her writing has appeared in The New York Times, Cosmopolitan, New York Magazine, The Boston Globe, Vulture and many other well-known publications as well as a regular finance column for Marie Claire. Gaby is the host and creator of the podcast, BAD WITH MONEY WITH GABY DUNN, which has been featured as one of the “Best New Podcasts of 2016” by The New York Times and Vulture. The show is now in its 4th season and a book based on the podcast was published by Simon & Schuster on January 1st, 2019 quickly becoming a bestseller.

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If you’ve been avoiding your lender, and all those calls from creditors, this one’s for you. Chelsea Fagan, the founder of The Financial Diet blog, sits down with us on Teach Me How to Money to talk strategy for rebuilding credit and improving your credit score. She shares some tips from her own life about how to make your phone stop ringing.

Chelsea Fagan is a writer and the founder of The Financial Diet, the leading digital destination for young women to learn and talk about money. She is based in New York City.

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Maybe you don’t have to go to college after all. In this episode of Teach Me How to Money, financial expert and author Anthony ONeal shares his experiences of getting into—and out of—massive college debt. Now, he advises most young people to think carefully before taking out those educational loans, and explains what the other alternatives are.

Jargon Hack.

What is financial literacy?

Financial Literacy

The ability to take stock of your financial situation so you can make smart decisions about money regularly.

Find out

Since 2003, Anthony ONeal has helped thousands of students make good decisions with their money, relationships, and education to live a well-balanced life. He’s the National Best-Selling Author of, “Graduate Survival Guide: 5 Mistakes You Can’t Afford to Make in College,” and travels the country spreading his encouraging message to help teens and young adults transition into the real world. You can follow Anthony on Twitter, Instagram and Facebook and online at anthonyoneal.com.

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Debt can change your life—the stress, the collection notices, the toll it can take on your self-esteem. But you can also change your life to fix your debt.

The first step is knowing when to pull the ripcord on your spending and activate your “ramen” budget. The second is to understand that while debt can feel bad, it’s not the end of the world.

On this week’s episode of Teach Me How to Money, Tiffany “The Budgetnista” Aliche talks about how she dug herself out of a 5-figure debt sinkhole (and a foreclosure) and became an advocate for others like her.

The post Podcast: How to Pay Off My Debt with Tiffany “The Budgetnista” Aliche appeared first on Stash Learn.

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Are you ready to get rich? Chances are, you want it to happen fast and with not a lot of work.

Sad news: There’s no scheme, plan, or strategy that can guarantee that you will get rich quick. No one becomes a millionaire overnight (unless you’re born with a trust fund).

Yet, it’s possible to gain wealth over time with regular saving and smart spending.

On this week’s episode of Teach Me How to Money, Chris Hogan, financial expert and author of “Everyday Millionaires”, teaches us how to get into the millionaire mindset and set your sights on a goal you can attain.

Watch the discussion below, and keep reading for some of the key takeaways from the conversation.

1. Think big.

“People see the opportunities that are available…often, where you are born, the family you were born into, all of those things can shape our beliefs. And if we don’t believe that something is available to us or believe that we can do it…then we tend to limit ourselves.

We dream big enough. I want people to see the opportunity [and to] make choices for themselves. And then, follow a plan of action that’ll lead them [to their dream].”

2. Learn to identify opportunities, and be decisive.

“Opportunity is about awareness. When we become aware that we have opportunities, that’s when we can begin to make decisions, develop a plan, and follow a course of action.

It’s best to start young…but I’ve talked to people of all ages. All nationalities. Some started early, and some that started later in the game—the thing [that’s important] to understand is it’s never too late to get better. It’s never too late to make that decision. So, it’s better to start early. But you can start at any time.”

3. Preparation is key.

“An ‘everyday millionaire’ is a regular, everyday person that has consistently invested over time and achieved success. I’m a former football player…and no team wins the Super Bowl by accident. Nobody has success that they just stumbled upon. They plan for it. Even in sports. You practice…to win.”

4. Learn habits to get your finances under control.

“I didn’t have little budgeting parties for [my children] when they were three years old. I helped them to understand that money comes from work, not from mom and dad. I taught them three categories: ‘give,’ ‘save,’ and ‘spend.’ They had three little envelopes, and when they got their commission (allowance), they would put money in.

When they go to church, they would give money out of their ‘give’ envelope. When we went to go buy something at a store and they had something they wanted to buy for themselves, they used their ‘spend’ envelope. I was trying to instill knowledge [in them], and also [financial] habits.”

5. If you want to work toward becoming a millionaire, it helps to believe in yourself…

“I think the first step is to believe—believe that it’s possible for you.

After you believe, then I want you to gain knowledge. I want you to learn. I want you to listen to [podcasts]…read books. Learn how money works. Because if you don’t learn how to manage money, it’ll manage you.”

6. …And have a plan for your money.

“Everybody else has a plan for your money, even if you don’t.

Look at the malls, the stores, the commercials—everybody wants your money. If you don’t have a plan for it, you’ll end up giving it to them.”

The post Podcast: How to Be an Everyday Millionaire with Chris Hogan appeared first on Stash Learn.

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Just about everyone struggles with money. For example, you are likely well-acquainted, with the sinking feeling you feel when you see how much money is left in your bank account after you pay your phone bill, rent, and buy some groceries.

That’s tough for everybody. But if you’re a member of the LGBTQ community, it can be exponentially more difficult.

On this episode of Teach Me How to Money, David and John—The Debt Free Guys—tell us about the numerous financial barriers and obstacles members of the LGBTQ community encounter.

Listen to the discussion above, and keep reading for some of the key takeaways from the conversation.

1. Money really is different for members of the LGBTQ community.

“There are some unique risks and concerns for the LGBTQ community. Study after study shows that there’s a pay gap—a gender and a sexual orientation pay gap. When you’re a cis, white, gay man…typically you’re a higher earner. But…trans women of color, they make on average $12,000 a year.

“Traditionally, everyone across our spectrum earns less than our straight peers, especially when compared to straight white men.”

2. Discrimination is real.

“Many people don’t know is that in 30 [U.S.] states, it is still okay to deny somebody housing, services or employment based on the fact that they may be LGBTQ. And that means that there are 30 states where people there may live in fear—they may not want to climb this corporate ladder because the more they climb the more they get exposed, the more they have to share who they are, or may have to tell the boss that their partner is of the same sex.

3. Many LGBTQ people start off at a financial disadvantage, too.

“One of the other things is that homeless youth—40% of them are LGBTQ. So, there’s a lot of people in our community who are entering life at a disadvantage when it comes to homelessness because many of them may have been kicked out of their houses.”

4. Opportunity—and acceptance—can be hard to find.

“A lot of us gravitate to what we consider the safe cities, [such as] San Francisco, LA, New York, Chicago—and they just so happen to be very expensive cities.”

5. When it comes to relationships, talking about money earlier is probably for the best.

“When we find a partner that we maybe want to have a long term relationship with, [try to] get on the same page with them about money. Use that as a catalyst to focus on our finances, especially since many of us LGBTQ couples don’t typically get married as early as our straight peers.”

6. As a couple, set financial goals. And don’t be afraid to take baby steps.

“Be okay with tackling one [financial] goal at a time. And then, plan the sequence of events of how you’re going to tackle your goals.

Beyond that don’t, commingle your funds. We (The Debt Free Guys) have numerous accounts, and each [one of us] has their own responsibility. That helps us make sure that…we don’t get frivolous with how we spend our money. It keeps us in line.

You’ve got to have your goals aligned. You and your partner or spouse don’t need to have the same exact goals, but you can’t have goals that oppose each other when it comes to your finances.”

The post Podcast: All About LGTBQ Finance with The Debt Free Guys™ appeared first on Stash Learn.

Tell us if this has happened to you: your friends invite you to go away on vacation. Cruise tickets? $1,500. You don’t want them to think you don’t have the money to pay for it, so you charge it on your credit card and worry about it later.

Or maybe you hear a rumor that your colleague is making more money than you for the same job. You freak out and complain to your boss. Then you realize that maybe, that wasn’t the best strategy to get what you want.

Talking about our money and how much we make can be seriously awkward. It brings up all kinds of issues because, well, there’s no handbook for how to have the tough financial conversation with friends, coworkers, and even our families.

On this episode of Teach Me How to Money, Lindsey Stanberry*, the work and money editor of Refinery29 and author of “Money Diaries: Everything You’ve Ever Wanted to Know About Your Finances… and Everyone Else’s”, tells how to stop feeling embarrassed about our salaries and start being real (upfront about our finances). Watch the video below and keep reading for tips directly from our conversation.

1. Be comfortable admitting that money is an uncomfortable subject.

“I think [talking about money] is really uncomfortable. I even don’t like to have those conversations with my friends. It can be awkward…for women especially, if we make a healthy salary, there’s a guilt that maybe our friends will judge us for making a lot [more than them. Or, if we don’t make enough, there’s this concern that we’re not keeping up. There can be a lot of feelings and emotions around it.”

2. The taboo of talking about money is baked into our cultural DNA.

“We’ve created this fake taboo. I actually think that women really do want to talk about [money] and that’s why Money Diaries is so successful.

It’s because we are all holding in this anxiety about money, and then we want to talk about it. And we’ve all been socialized to believe we’re not supposed to—I think that my parents are very supportive of my career, but I think it kind of freaks them out a little bit that I sit around and talk about other people’s money all day.”

3. Maintaining the taboo pays off—mostly for employers.

“It makes sense that a company doesn’t want you to share your salary. When you begin to share that information, you gain [insight], and that’s really intimidating for companies.

It’s really tricky deciding whether or not you tell your coworkers your salary. You’ve got to weigh the pros and cons of that really carefully. And I say [you should] never, ever go to your boss and say, ‘Hey, I know that they make less than me and that’s not fair.’ Because that [can backfire].”

4. Getting a clearer financial picture can be a motivator

[Finding out you’re getting paid less than your peers] can feel really bad. But, I think it can be good motivation to find a new job. I know that’s not necessarily popular advice, but sometimes you’re out of place and it’s never gonna get better.

That’s why knowing salaries can be really important—when you go out and you’re looking for that next job, you can make sure that you are being paid fairly.”

5. If you want a raise, look for an advocate

“Find a great advocate.

I think for women—and this is really unfair—but for women of color also, there tend to be negative reactions to asking for raises. So, find a person who’s gonna help you. And that includes finding a male ally. It’s not always easy, but they are out there. Get them to help you advocate for yourself.

And, like I said, maybe it’s just time to find a new job…A new job can offer a huge pay bump.”

6. When asking for more money, timing is key.

“Timing is everything.

You really have to think about what’s going on in your industry, what’s going on at your company, and even down to whether or not your boss is in a good mood. If they’re having a bad morning, it’s probably not the day to bring up the raise.

Then, really prepare. Prepare, prepare, prepare. Have a sheet [of paper] with all of your notes [about your accomplishments] to really prove that you’re worth it.”

7. Don’t let your employer make you feel like you should be grateful for the opportunity, and stiff you on a raise.

“Stop being grateful [for a job]. Grateful doesn’t pay the rent.”

The post Podcast: How To Feel Okay About My Income with Lindsey Stanberry appeared first on Stash Learn.

Credit cards can be valuable financial tools if you know how to use them correctly. They can also get you into serious trouble if you don’t.

Learning the difference between healthy and unhealthy credit card use is key to having a strong financial life. And since credit cards often offer rewards and points that can be redeemed for travel miles or cash back, if you’re diligent, they can help you get the things you want, as well as build your credit.

Brianna McGurran*, a contributor to the financial site Nerdwallet, teaches us how to use credit cards properly so that they work for, not against us.

Keep reading for 6 Credit Card tips from McGurran’s conversation with our editorial director Lindsay Goldwert, edited for clarity.

1. You should understand why credit is important.

Credit is the thing that lenders look at before they issue you a loan or a credit card. It’s your financial history—it’s who you are as a person, in the financial world…[And determines] whether or not you can be trusted to borrow money or to pay something back on time.

You [need credit] for anything from getting a mortgage to getting a credit card.

You need a credit history in order to get [a travel rewards credit card]. You also need credit, sometimes, to rent an apartment…Landlords will check your credit history, as it’s sort of this proxy for how responsible you are.

2. Closing a credit card may not actually help you.

Unfortunately, what happens when you close an account [is that] your average length of credit history goes down. Suddenly, all the history that you built up with that account goes away. So, your [credit history is] starting from the first day of your next oldest account opening.

Also, say you have a credit limit of $2,000 on [the] card you closed, but the card you keep open has a credit limit of $1,000, and you have $300 of debt outstanding. Your credit utilization ratio now becomes higher because you have $300 in debt on a $1000 credit limit, instead of a $2000 credit limit…That ends up actually making it look like you have more debt compared to your credit line[s].

3. Applying for credit will likely impact your credit score.

There is a penalty if you apply for credit cards. A hard inquiry (when a potential lender looks at your credit history) on your credit report will affect your credit.

Applying for a lot of credit cards over the course of a long period of time, you’re just going to get dinged over and over…there’s really no reason to [do it].

4. There may not be a “best” credit card–so, look for the right card for you and your goals.

We all get so many offers, letters, and ads…My advice is usually to ignore the offers and the letters, and only search for [a card] when you’re ready for it. When you are ready to get a financial product, you are more likely to actually apply wisely and find something that is good for you.

Think about your goals. If you’re the type of person who travels a lot, a travel credit card that gets you rewards based on your spending could be right for you. If you’re the type of person who, even if you travel a lot but you just can’t be bothered with tracking rewards or knowing how the credit card works, a cashback [card] might be better. Or, if you really need to build credit, there are certain credit cards that are good for that.

5. Don’t forget about fees.

It’s important to see what fees are associated with every credit card, and every financial product in general. If you are interested in a rewards card, but it comes with an annual fee, you have to do the math to make sure that you’re actually going to use enough rewards to offset that fee.

[Remember]: There are some cards that do offer rewards with no annual fee.

6. A good way to potentially start paying off your credit card debt is with a balance transfer.

The balance-transfer is a really good option for people who have a lot of credit card debt and want to just get rid of it within a certain amount of time. [It] almost gives them a deadline to take care of it, [which] means paying more than the minimum each month—if you’re provided minimum payment from your credit card company, you can pay more than that.

The post Podcast: All About Credit and Credit Cards with Brianna McGurran appeared first on Stash Learn.