MoneyPlan SOS with Steve Stewart | Budget Wisely | Get out of debt | Pay attention, not interest

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My wife and I went from a negative net worth of $70,000 to no debt, thousands in savings, and a paid-for house. We did not win the lottery or receive an inheritance...we simply PAID ATTENTION - NOT INTEREST. I’ve been inspiring others to pay off their debt, live without credit cards, and avoid the distractions of building credit scores in order to build wealth instead. Below are 5 years of encouraging and educational episodes to help you spend wisely, save more, and escape the trappings of debt. More information at http://MoneyPlanSOS.com

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MoneyPlan SOS with Steve Stewart | Budget Wisely | Get out of debt | Pay attention, not interest navigateright Episode

8 Great Mistakes of Investing and Fractional Savings Accounts - MPSOS198

OG (aka The Other Guy from Stacking Benjamins) joins me to share the 8 Great Mistakes in Investing:



  1. Under-diversification 

  2. Over-diversification 

  3. Euphoria 

  4. Panic 

  5. Leverage 

  6. Speculating 

  7. Investing for yield and not total return 

  8. Cost basis dictating decision 


Thanks to OG for coming over. You can find him at http://StackingBenjamins.com - my favorite podcast.


Also mentioned in this episode:


The Great Beanie Baby Bubble by Zac Bissonnette. Amazing stuff! Here's the Stacking Benjamins affiliate link: http://amazon.com/dp/B00INIXVPW/?tag=thefreefinanc-20


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Steve Stewart's Budget Coaching Course on video: Http://moneyplansos.com/start


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Ponda from the Honda: SPEND IT ALL (sort of)


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Matt Ham Book Giveaway: http://moneyplansos.com/rich


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Full list of show notes at http://SteveStewart.me/198


Fractional and Automated Savings Accounts - are they a good idea?


Deanna Richardson from Richardson Accounting and Consulting, PLLC @ theCPA-4U.com asked


“Have you heard of Digit? Seems like a great way to build up an emergency fund and....it says it is free. Then their are bonuses for keeping $100 in it over 3 months. If I did my math right, the bonuses are over 2.5% interest (5 cents / week per $100). Would love to hear what you think.”


I tackle these new fractional, or automatic, savings accounts: Acorns, Digit and Betterment’s SmartDollar


Links:


ACORNS


Open an account: https://www.acorns.com or install the free IOS or Android app


Listen to my interview with the creators of Acorns http://SteveStewart.me/161


 


DIGIT


Open an account: https://digit.co


Testimony from Paula Pant (which kinda concerns me) http://blog.digit.co/post/126333490654/we-are-digit-featuring-paula-pant-meet-our


 


BETTERMENT'S SMARTDEPOSIT


Open an account: http://moneyplansos.com/betterment 


More information: https://www.betterment.com/resources/inside-betterment/product-news/smartdeposit-auto-deposit-but-smarter


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The MIDWEST MASTERMIND


This is a live, in-person 1-day EVENT in Indianapolis.


Saturday October 24, 2015 - Dustin Hartzler, Ryan Rhoten and Erik J Fisher (from Beyond The To Do List) are hosting this one day summit or those who are serious about taking their business to the next level. 


Visit http://midwestmastermind.com for more information or contact me http://SteveStewart.me/contact