Money On My Mind

In this conversation, Eric Chadderdon shares his journey from growing up with parents in the real estate business to becoming a successful multifamily real estate investor. He discusses the importance of financial education and early entrepreneurship in shaping his mindset around money. Eric emphasizes the power of perseverance and not quitting, sharing his experiences of overcoming challenges and rejection. He also highlights the significance of networking and building relationships in the real estate industry. Finally, Eric discusses his upcoming venture in the education business, where he aims to teach others how to succeed in multifamily real estate. The conversation covers topics such as membership places and risk, the game of business and success, surrounding yourself with the right people, recording and editing videos, course quality and feedback, future plans and gratitude, and requirements to become a general partner. Chapters 00:00 - Growing Up with Money 06:28 - Parents' Real Estate Ventures 08:06 - Financial Education and Early Entrepreneurship 11:06 - Transition to Multifamily Real Estate 22:22 - Multifamily Real Estate Journey 24:48 - Investing in Yourself and Mentorship 28:23 - The Importance of Networking and Relationships 34:07 - Launching an Education Business 36:41 - The Value of Investing in Yourself 37:49 - Membership Places and Risk 38:14 - The Game of Business and Success 39:02 - Surrounding Yourself with the Right People 39:17 - Closing Remarks

One of the most challenging parts of achieving comfort and success in life that nobody talks about is how you continue moving forward. Many people face the challenge of identifying what their next step would be because they’re already at a good place but if you’re not challenging yourself and working hard to maximize your potential, that means you’re slowly going backwards – and that’s something nobody wants.    Listen to this episode to learn what it’s like to be stuck in comfort, why we should continuously seek out growth, and how you can make sure you’re finding ways to maximize your potential!    Key Talking Points of the Episode   00:00 Introduction 02:25 What is the struggle we’re facing in identifying the next step for us? 04:33 Why is it important to learn how to maximize your strengths? 06:30 What could happen if you stay in your comfort zone? 07:59 What is the value of having an impact on other people’s lives? 09:34 How can you find a deeper purpose in life? 11:54 How can you use your experience to help other people get comfortable? 14:02 What could your future look like if you took action and used your skills today? 15:00 How can you maximize your potential today?   Quotables   “I believe most of life is about giving to others – to be able to use your talents to help other people, to inspire other people, to get people in a better position.”   “What keeps you going is the bigger “why”, so one of our biggest goals right now is to donate $1 million to Gervais Syndrome.”   “I believe wholeheartedly that if you stay where you’re at, you’re actually dying, slowly and steadily.”  

Entrepreneurship is a wonderful journey and it can give you a beautiful future if you learn how to do it the right way, but it’s not for everybody and that’s okay. With so many people taking their stories to social media today, telling you “anyone can do it”, you have to make sure you really know what you’re getting yourself into before you make major decisions that could affect other aspects of your life.    Listen to this episode to learn more about the journey into entrepreneurship, the truth behind taking the leap of faith, and what our experience has been like as we built Budgetdog!   Key Talking Points of the Episode   00:00 Introduction 01:35 How did we get interested in entrepreneurship? 03:22 What were the early years of business like for us? 05:19 How much responsibility will you have as you start your own business? 07:18 How would people see your success from the outside? 10:53 What is hard work really like in entrepreneurship? 14:10 How much would you need to sacrifice to build a successful business? 15:25 What can you do to be more disciplined as an entrepreneur? 18:26 How much are entrepreneurs risking to achieve success in business? 20:52 What was the transition from corporate to entrepreneurship like for us? 24:20 What was my motivation to make the business work? 29:04 What should you keep in mind when you look at successful entrepreneurs?   Quotables   “I wanna remind everybody that the mindset for entrepreneurship isn’t for everybody and that’s okay.”   “If you don’t build yourself up as a better quality person, your business will fall on its face really fast and you gotta change very fast. Adaptability is one of the biggest traits I see in highly successful people.”   “You might start 3 steps behind, you might also start 3 steps ahead, and ultimately it doesn’t matter. The cards that you were dealt, you need to figure out to use this to the best of your ability.”   Links   Website: Budgetdog https://budgetdog.com/   Instagram: Brennan Schlagbaum https://www.instagram.com/budgetdog

Heather Brito is an experienced trauma psychologist and coach who helps people understand the connection between their mind and their financial behavior. She uses her expertise in psychology to uncover the things that need to be changed in order to become mentally and financially healthy and she is with us today to talk more about the importance of your mindset to your financial situation.    Listen now to learn more about financial psychology, the real reason we struggle with finances, and what we can do to get ourselves in better financial situations!   Key Talking Points of the Episoder   00:00 Introduction 01:13 Who is Heather Brito?  02:06 How does the lack of financial literacy hold people back from success? 06:07 What is negative cognition and how does it affect your finances? 09:24 What is the real reason for emotional spending? 14:24 How can you overcome your negative cognition? 21:10 What is the importance of understanding the psychology behind your finances? 22:15 How does negative cognition trigger impulsive behavior? 26:44 What are the psychological barriers that hold people back from financial success? 28:58 What can people do to change their financial future? 31:40 What is the reality behind what people see as “rich”? 34:14 Why is it important to be intentional with your finances? 39:29 How do cognitive biases hold you back from making better financial decisions? 42:52 How will awareness of your negative cognition help you overcome cognitive biases? 45:54 What is Heather’s advice for people who want to get to better financial situations? 46:13 How can you connect with Heather?   Quotables   “If I don’t know something and I wanna learn a little more about it or I feel dumb, I’m probably gonna get a book, join a webinar – I’m gonna do something like that to get a little more knowledge if it’s something I’m struggling with.”   “It’s perspective, it’s at no fault of anyone. It’s what someone perceives.”   “If it’s a strong positive fact, you usually can’t argue with it. That will shift you out of the part of the brain that holds the negative cognition.”   Links   Website: Heather Brito https://www.heatherbrito.com/

Welcome back to another insightful episode of "Money On My Mind" with me, Brennan Schlagbaum. Today, we delve deep into the core challenges hindering financial success. Joined by Tom, a skilled student success manager from Budget Dog Academy, we explore the five pivotal barriers that often hold many back from financial prosperity. This episode is tailored for anyone from high earners who underestimate the power of budgeting to individuals trapped in the paycheck-to-paycheck lifestyle, providing actionable insights and practical tips to revolutionize your financial journey. Episode Highlights [00:40] - Unpacking Financial Challenges: Tom introduces the five critical obstacles to achieving financial success. [02:10] - The Budgeting Myth: High earners often neglect budgeting. Tom explains why it's essential, regardless of income. [03:28] - Journey from Budgeting to Wealth: Real-life success stories demonstrating the transformative power of effective budgeting. [09:30] - Mastering Cash Flow: Strategies for managing newfound cash flow and the importance of purposeful investing to avoid financial stagnation. [14:13] - Avoiding Investment Mistakes: Common errors in investment strategies that can impede long-term growth. [22:45] - Navigating Investment Risks: The importance of understanding and managing risks to maintain and grow wealth. [33:44] - The Psychological Side of Finance: How emotional factors impact financial decisions and overall financial health. [38:19] - Living for Today and Tomorrow: Tom shares a poignant story highlighting the necessity of enjoying life while securing a financial future. [43:05] - Conquering Financial Shame: Tips on how to confront and overcome the shame and guilt associated with financial struggles. [45:30] - Steps to Financial Recovery: Practical advice for anyone feeling financially left behind. Links & Resources Budget Dog Academy: https://budgetdog.com/ Closing Thoughts If you're aiming to break free from financial constraints and step towards a life of abundant wealth, don't miss this episode. Make sure to subscribe, follow, and share "Money On My Mind" if you find this discussion beneficial. Your ratings and reviews help us reach and help more people like you achieve financial freedom. Tune in next week for more empowering financial insights!

In this conversation, Lindsay Stamp shares her journey of overcoming debt and achieving financial freedom. She discusses her upbringing and the money mindset she developed from her parents' hard work. Lindsay talks about the impact of a traumatic event on her perspective on life and money. She emphasizes the importance of being willing to make sacrifices and take action to achieve financial goals. Lindsay also highlights the significance of open communication and alignment with a spouse or partner when it comes to money management. In this conversation, Brennan and Lindsay discuss the potential for Lindsay to start her own business in personal finance and wealth building. Lindsay expresses her desire to create and build something for herself and feels pulled to teach people how to handle their finances. Brennan encourages her to pursue this path, highlighting her communication skills and relatability. He shares his own experience of building a business and emphasizes the potential for multiple revenue streams. They also discuss the dynamics of the Wealth Squad community and the different perspectives on Bitcoin within the group. Overall, the conversation inspires Lindsay to take action and pursue her passion for personal finance. Lindsay Stamp's Twitter: @lindsaystamp3

In this conversation, Brennan discusses the shame and embarrassment that many people feel around money. He shares an email he sends to students who have fallen off track in their financial goals, emphasizing the importance of not feeling ashamed or embarrassed. Brennan highlights the need to set realistic goals and avoid self-blame when they are not achieved. He explains that our beliefs and behaviors around money can be rewired, and that success is within reach if we change our mindset. Brennan encourages listeners to disconnect their emotions from financial success and focus on building a new set of programs for financial freedom.   Takeaways: Shame and embarrassment around money can prevent people from addressing their financial issues. Setting realistic goals and avoiding self-blame is crucial for financial success. Our beliefs and behaviors around money can be rewired to achieve different results. Disconnecting emotions from financial success can lead to empowerment and freedom. Financial success is possible regardless of upbringing or past experiences with money. Chapters:   00:00: Shame and Embarrassment Around Money 03:24: The Importance of Setting Realistic Goals 06:11: Overcoming Self-Blame and Shame 09:23: Rewiring Our Beliefs and Behaviors 11:21: Disconnecting Emotions from Financial Success

In this episode, Brennan introduces the Money on My Mind podcast and discusses its purpose of simplifying the financial world and empowering everyday people to take control of their finances. He emphasizes the power of intention and how it can transform one's life, sharing his own experience of paying off a significant amount of debt. Brennan also highlights the importance of taking action and setting goals, as well as the journey of growth and momentum that comes with intentional living. He concludes by encouraging listeners to strive for excellence in their everyday actions.   Takeaways The power of intention can have a transformative impact on one's financial and personal life. Taking action and setting goals are crucial steps towards achieving financial success. The journey of growth and momentum is ongoing and requires continuous effort and intentionality. Excellence in the ordinary, focusing on small daily actions, can lead to significant long-term results. Chapters:  00:00Introduction and Purpose of the Podcast 03:34The Power of Intention 10:25Taking Action and Setting Goals 15:12The Journey of Growth and Momentum 17:41Excellence in the Ordinary 19:38Conclusion and Next Steps

In this conversation, Brennan shares the eight things he did to escape the rat race. He was motivated to make a change after witnessing his boss prioritize work over family. The chapters cover various aspects of achieving financial independence and living a fulfilling life. Brennan emphasizes the importance of surrounding oneself with the right people, setting clear goals, partnering with a supportive spouse, being committed and willing to make sacrifices, eliminating debt, saving a significant portion of income, building a community of like-minded individuals, and finding a meaningful mission beyond financial success. Takeaways Surround yourself with people who inspire and align with your goals. Set clear and specific goals, and write them down. Choose a supportive partner who shares your vision. Be committed and willing to make sacrifices to achieve your goals. Eliminate debt to gain financial freedom. Save at least 20% of your income for future goals. Build a community of like-minded individuals who support and motivate you. Find a meaningful mission that goes beyond financial success.   Chapters:  00:00Introduction and Motivation 03:25Chapter 1: Stop Listening to the Wrong People 06:19Chapter 2: Get Clear on Your Goals 07:14Chapter 3: Partner with the Right Person 09:10Chapter 4: Be Willing to Do Whatever It Takes 13:24Chapter 5: Eliminate Debt 14:50Chapter 6: Save at Least 20% of Your Income 16:44Chapter 7: Build Community 17:38Chapter 8: Find Your Mission

This conversation explores the relationship between time and money and how they impact our lives. The host emphasizes the importance of understanding this relationship and how it can lead to a better and more fulfilled life. The chapters cover topics such as the role of time in wealth building, the implication of time in our financial future, maximizing money and understanding life's purpose, using money to gain more time, overcoming scarcity mindset, investing in oneself, the power of mentorship, and changing mindset to spend money wisely. Takeaways Time is a crucial factor in wealth building, with compound interest over a long period being the key to significant growth. Maximizing money should not be the sole focus; it is important to have a clear goal and purpose for financial success. Using money to gain more time can lead to a more fulfilled life. Overcoming scarcity mindset and investing in oneself is essential for financial growth. Mentorship can provide valuable insights and accelerate one's journey to success. Changing mindset to view money as a tool for gaining time can lead to a more prosperous and fulfilling life.     Chapters: 00:00The Importance of Time and Money 02:05The Role of Time in Wealth Building 04:09The Implication of Time in Your Financial Future 06:01Maximizing Money and Understanding Life's Purpose 07:27Using Money to Gain More Time 08:24Overcoming Scarcity Mindset and Investing in Yourself 11:20The Power of Mentorship 12:44Changing Mindset and Spending Money Wisely 15:08Spend Money to Get More Time Back

In this episode, Brennan shares his journey of paying off his mortgage at a young age and the reasons behind this decision. He discusses how he and his wife paid off their non-mortgage debt first and then started considering paying off their mortgage for financial freedom. Brennan emphasizes the importance of being prepared for life's challenges and how paying off the mortgage provided them with the flexibility to navigate unexpected situations. He also highlights the limitations of relying solely on spreadsheet math and the need to consider other assumptions in financial decision-making. Takeaways Paying off non-mortgage debt before the mortgage can provide a solid foundation for financial freedom. Paying off the mortgage can provide the flexibility to pursue other goals and navigate unexpected challenges. Life is unpredictable, and it's important to be prepared for unexpected events. Spreadsheet math is valuable, but it should be complemented with an understanding of real-life assumptions and considerations.   Chapters: 00:00Introduction 00:55Paying off Non-Mortgage Debt 01:53Considering Paying off the Mortgage 03:11Paying off the Mortgage for Financial Freedom 04:35The Decision to Pay off the Mortgage 06:02Life Happens After Paying off the Mortgage 07:27The Importance of Being Prepared for Life's Challenges 09:24Quitting the Nine-to-Five Job 10:24The Challenges of Parenting a Medically Complex Child 13:59Moving Across the Country 17:03The Limitations of Spreadsheet Math 18:32The Importance of Considering Life's Assumptions 19:28Conclusion