“Today we curated the Young and Profiting episode with Joel Larsgaard & Matt Altmix

Where we extract the essential wisdom from top business podcasts and serve it up in bite-sized, actionable form for entrepreneurs and professionals on the go.

In this edition, we've handpicked 2 Actionable Ideas and 1 Key Learning from this insightful podcast episode that could transform your business approach.

TODAY'S FEATURED EPISODE

In today's episode, we feature Joel Larsgaard and Matt Altmix, Co-Hosts of the How to Money Podcast.

Key Insights Discussed:

• Money is a tool, not the goal: Joel and Matt emphasize that money should be viewed as a tool to achieve the things you care about in life, rather than as the ultimate goal itself. They suggest reframing your mindset and putting money in its proper place.
  

• Open communication about money: The hosts encourage open conversations about money, both within families and among friends. They believe that discussing money should become more normalized, as it plays a crucial role in our lives and is a tool to achieve our goals and aspirations.
  

• and More!

2 IDEAS FROM THE PODCAST Id#1:

Idea #1: Having a "Why" Behind Your Money

Money should not be viewed as the end goal, but rather as a tool to help you achieve the things that truly matter in life. Without a clear "why" behind your finances, it's easy to get caught up in spending money on things that don't align with your values or aspirations. By establishing a purpose for your money, you can make intentional decisions about how to allocate it in a way that moves you towards your desired goals and lifestyle.

Having a strong "why" can help sustain motivation during obstacles and remind you of the greater purpose behind your financial decisions.
The importance of asking yourself "what is it that we want money to do for us?" and funneling money towards those intrinsic goals, rather than just following the standard American lifestyle by default.

Idea #2: The Value of Budgeting

Budgeting is a tool that allows you to be intentional about how you spend your money, aligning it with your values and goals. It provides awareness of where your money is actually going, preventing unintentional spending on things you don't truly care about. A budget acts as a money journal, promoting mindfulness about your finances.

• The hosts explain that most people don't actually know what they're spending money on each month, leading to a disconnect between spending and priorities.

• Examples are given about underestimating costs like subscriptions and eating out, which can quickly drain funds from more meaningful goals like a home down payment.

• Budgeting is framed as a proactive way to decide how to spend your money purposefully, rather than restricting your lifestyle. It's viewed as the "diary equivalent" for tracking your finances mindfully.

1 KEY LEARNING

Money is simply a tool. By reframing your perspective on money to align it with your deepest values and aspirations for life, you can make more intentional decisions about how to utilize it as a means to an end, rather than becoming obsessed with it as the end goal itself.

This podcast doesn't shy away from thought-provoking insights! Did you know that Joel and Matt believe money should be viewed as a tool, not the ultimate goal? They emphasize the importance of having a "why" behind your spending and saving decisions. Additionally, they present budgeting as a way to consciously allocate your finances, akin to journaling for self-reflection. Lastly, they encourage open communication about money, both within families and among friends.

Thank you for reading! 📩

🎧 So, what do you say? Let's dive into the world of personal finance with Joel and Matt, exploring their unique perspectives on money mindsets, budgeting, and financial communication! Ready to gain some valuable insights?

keep turning those WORDS into WEALTH! 💰

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Until Tomorrow,
Podcast Diary 📙