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Getting Money Right

Leo Sabo & David Thompson

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A show dedicated to helping you achieve financial freedom through education and inspiration, so you can be freed-up to pursue your true life's purpose. Not understanding money leads to financial stress, money fights, and unrealized dreams and goals. This doesn't have to be your reality! We make managing money simple to understand and easy to implement through practical advice and easy to use resources that will ensure you're success.
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Getting Money Right was started with you, the listener, in mind. We desire to educate and inspire you to “get money right” to pursue your passion and do the work you are meant to do. To take GMR to the next level, we are pausing the podcast and focusing our time on completing the financial course we started in 2021. This pause is temporary but nece…
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Food is one of the primary expenses in our budget and a basic need. The cost is necessary, but the amount you spend each month can vary based on personal choice. In this episode, we break down the different costs associated with preparing your own meals, fast-food/take-out, or going to a sit-down restaurant. The difference between these will surpri…
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Every work has paid into or is currently still paying Social Security and Medicare taxes. We all hope to see those benefits come our way someday. In this episode, we discuss the current state of these programs, how this may impact you in the future, and what you can begin to do about it.By Leo Sabo & David Thompson
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Consumer Reports did a year-long investigation, which included 858,000 loans from 17 major auto loan lenders, to look into the growing burden of car-related debt. What they found is disturbing and heartbreaking. In this episode of GMR, we discuss the reasons people are falling for bad auto loans and how to avoid being one of them.…
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If you’re familiar with our 4 Steps to Purposeful Living, then you know that Investing Wisely (Step 4) is the one thing that can accelerate your ability to do more good and fulfill your life purpose. In this episode of Getting Money Right, we’re talking about investing in individual company stock. Should you do it, and if so, what things do you nee…
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If there’s one topic that we should be teaching our teenagers and young adults is personal finance. In this episode of Getting Money Right, we’re talking with Dan Sheeks, the author of First to a Million: A Teenager’s Guide to Achieving Early Financial Independence. Dan’s passion for teaching kids to understand and apply financial strategies to ach…
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2021 has been an interesting year for many people, including us. As we’ve been working on increasing the value we are always trying to offer you, our followers, some significant changes have happened in both of our families. In this episode, we discuss some personal updates and our ongoing efforts to provide you with the best personal financial edu…
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When we hear the word “wealth”, many of us think about money. But wealth is about so much more than that. All of the aspects of your life that matter most to you - your family, your legacy, your community, the causes you care deeply about - contribute to your wealth and the richness of your life. Together, they compose your family value. If you’re …
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Making financial decisions, especially under financial duress, can lead to frustration and big arguments with your spouse. Even when finances are good, unity in your financial decisions can be challenging. In this episode, we discuss areas that are most likely to create tension and ways you and your spouse can achieve harmony in all your financial …
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There’s are many ways that Amazon continues to impact our lives. The benefits of ordering pretty much anything from the comfort of our home to having the item arrive at our door within hours can’t be overstated. But there’s at least one negative impact to Amazon’s influence that can harm or do serious damage to your financial health. In this episod…
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It seems like every item you’re purchasing these days offers an extended warranty. From Amazon to eBay to your local Walmart purchase, you can’t get through a purchase without an offer for an extended warranty. When is an extended warranty needed, and are they worth the value you’re being asked to pay for them? In this episode of GMR, we’re digging…
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Don’t you wish better financial education was available for your kids, and that it was fun? In this episode of Getting Money Right, our guest, Shivanii Ray, has just what you’ve been wishing for. Shivanii is the Global Community Engagement Champion of Funancialfreedom.com, an online financial education platform that offers financial education for k…
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Buying a home is something most families have a desire to do. And, with the cost of housing continuing to rise, many people are considering buying sooner rather than later. Buying without a sizable down payment will require private mortgage insurance (PMI). In this episode of Getting Money Right, we discuss what is PMI, what it costs, and whether y…
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There are almost endless options when it comes to investing. Where should you start? What do you need to know to be a successful investor? In this episode, we talk with Alex Mason, the creator of the Stock Stories podcast, and the stockstoryteller.com website, to learn about the types of asset classes available and understand the benefits and risks…
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Everyone will have to or want to borrow at some point. Having the best credit score will not only allow you to get that loan or credit account, but it will also ensure you pay the lowest interest rate available. In this episode of Getting Money Right, we discuss how long it will take you to build or rebuild your credit score if you’ve had some nega…
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The U.S. Government this month (July 2021) has begun sending child tax credits checks for each child 17 years old and under? What will you do with the extra money? In this episode of Getting Money Right, we’re talking about what the changes to the Child Tax Credit are, why they are being offered in advance. We’ll also make some suggestions on how t…
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There are certain areas of spending within a household budget that are harder to keep under control than others. Food is definitely one of those. In this episode of GMR, we discuss how you can better budget for this specific expense to keep the rest of your budget healthy.By Leo Sabo and David Thompson
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Higher education is a good thing. But, should you go back to school to obtain a master’s degree or an additional certification? In this episode of GMR, we discuss the benefits and costs associated with higher education so you can determine whether now is the right time to pursue it.By Leo Sabo & David Thompson
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Passing on your knowledge, experience, and wisdom about money to your children is vital to their happiness and success. In this episode of Getting Money Right, we are answering this important question to help you gain insight into when and how to begin teaching your kids about money.By Leo Sabo & David Thompson
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More than sixty percent of Americans pass away each year without an estate plan; having a WIll or a Living Trust. That’s unfortunate because of the problems this causes the family that’s left behind. For those who possess a living trust, it’s just as important to fund the trust. In this episode of Getting Money Right, we discuss how to ensure your …
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When you consider having available cash on hand, you may think the more you have, the better, but that’s often not true. In this episode of Getting Money Right, we’re discussing when too much cash can be a bad thing and offer some recommendations for what to do when you’re in this situation.By Leo Sabo & David Thompson
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To be an effective investor, you need to understand how the economy affects different markets. In this episode of GMR, we revisit some of the concerns we discussed back in September of 2020 due to the pandemic and economic stimulus the government has provided. The question we should all be asking and preparing for is, are we headed for a market cra…
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To be an effective investor, you need to understand how the economy affects different markets. In this episode of GMR, we revisit some of the concerns we discussed back in September of 2020 due to the pandemic and economic stimulus the government has provided. The question we should all be asking and preparing for is, are we headed for a market cra…
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Show Notes Different Insurance Profit Margins Property Casualty Insurance averages a 2.7% profit. Life insurance companies had an average NPM of 9.6%. Home Warranty - 20%+ Profit Margins - EBITA According to Dave Ramsey, a personal finance expert, about 85% of the home warranty amount is absolutely profit and commission to the people. Professional …
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Show Notes What you will hear in this podcast: I’m not anti-Wall Street! I love the Stock Market. It is my bright and shiny object, but it’s a game, and it’s a lot of educated gambling. You should not be putting your entire portfolio in the stock market, in my opinion. You should put a part of it. One of my favorite investments, and a favorite for …
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Show Notes How to use credit cards without wrecking your budget Use your credit card as a form of payment, not as an extra source of income. Assign each Credit Card transaction to a budget category. Ensures you’re only spending what you’ve planned. Helps you keep track of all your credit card usage. Makes it easier to pay the balance in full every …
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Show Notes What you will hear in this podcast: This thing that we call the stock market is really just this auction system of buyers and sellers for these companies that you and I use every day. Learning that I can be a part-owner in these companies just by buying a stock was just amazing to me, and that is what really set me off on the journey. Me…
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Show Notes How much should I be planning for retirement? The Income Replacement Ratio $45,000 in expenses (2 people 65 or older) $4,000 in expenses $2,500 in Social Security Gap $1,500 has to come from other sources Real estate, stock/bonds/mutual/funds, annuities, etc. America’s Income Challenge Only 30% of people have a plan. From $4,000 a month,…
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Show Notes Today’s Annuity: A Tool to Create Protected Lifetime Income What are annuities? An insurance product About a quarter trillion sold in the US each year Annuity companies are highly regulated Benefits of Annuities Tax Deferral Principal Protection Unlimited Contributions for Non-Qualified Annuities Ability to Be Swapped Tax-Free Probate Av…
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Show Notes What you will hear and learn from this podcast: We believe books change lives; they change the lives of the reader, they change the life of the author in the process of writing it, and also in leveraged impact. We help people write and publish books to grow their impact, their income, and their business. I figured, Hey! I’m learning how …
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Show Notes Staying on Track in Difficult Seasons Get honest with yourself How committed are you to your financial health? Is your long term financial well being more important to you than you satisfying your immediate gratification? Are you engaged in a blame game? It’s not my fault! Financial health is about personal responsibility. It’s up to you…
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5 Financial Mistakes to Avoid Keeping up with the Joneses Spend on purpose, and you’ll avoid the temptation to compare and keep up with others. Not setting the next goal Always have the next goal in place before achieving the one you’re working on. Not protecting your wealth Have proper insurance Manage your cash flow and increase your reserves Spe…
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Guest - Omer Redden Omer Redden is the best selling author of several books including: How to Work from Home Life Doc: How to Succeed in Life Without Losing Your Faith, Family, and Friends Give and Grow Rich: Change Your Mind, Change Your Money In his day-to-day, he works with an Inc. 5000 fastest-growing company, Self-Publishing School, which teac…
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Show Notes Guest - Omer Redden Omer Redden is the best selling author of several books including: How to Work from Home Life Doc: How to Succeed in Life Without Losing Your Faith, Family, and Friends Give and Grow Rich: Change Your Mind, Change Your Money In his day-to-day, he works with an Inc. 5000 fastest-growing company, Self-Publishing School,…
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Show Notes Cost of raising a child - Check out this informative article on the cost of raising a child. Saving for and Teaching Your Kids the Value of Saving 1. Begin with a personal financial assessment Get an accurate picture of your own budget. How are you managing? Spending on purpose? Saving for future needs (emergency fund, long term savings)…
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The scarcity mindset believes there are limited resources and inequality in the possession of those resources. It further believes that for one person to succeed, someone must lose. In this episode of GMR, we reveal the truth about the scarcity mindset and why it isn't to your benefit to embrace it.By Leo Sabo & David Thompson
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To build significant wealth, you’ll need to move beyond being an employee. This is because there are only so many hours in the day, and when you’re employed, you can only trade a limited number of hours in a day for income. In this episode, we talk with Josh Moore, the owner of Inclusion Coffee, to learn what it takes to build a business that never…
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To build significant wealth, you’ll need to move beyond being an employee. This is because there are only so many hours in the day, and when you’re employed, you can only trade a limited number of hours in a day for income. In this episode, we share six steps to starting a business that will move you from employee to self-employed and gradually to …
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No doubt you’ve heard the saying, “The rich get richer and the poor get poorer.” Well, there’s a good reason for this, and it comes down to mindset. What you believe about money, and how you think about it will lead to your actions, and eventually your results. In this episode, we discuss six specific ways the wealthy think differently so you can l…
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There have been many negative impacts caused by the COVID-19 pandemic. One that hasn’t been talked about much is the increased use of credit and the negative impact on credit scores. Many Americans have had to use more credit to get by in the past 6 months, and the result is lower credit scores. In this episode of GMR, we’re going over some of the …
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Every single person wants to change something in their life. Maybe you want to change your weight, or perhaps it’s your finances. Regardless of what you want to change, there’s a process to change, and the biggest adversary to your success is your brain. In this episode of GMR, we look at what it takes to experience positive change that lasts.…
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The Housing Market has seen a significant increase over the last few years. With the pandemic still impacting the economy, especially jobs, a growing number of Americans are seeking forbearance on their mortgages. How will this impact the housing market in the near future? Listen to this episode of Getting Money Right to find out and to learn what …
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Wouldn't it be great if you could predict economic cycles? Knowing when markets will go up or down would be advantageous to investing and protecting our assets. Understanding what causes economic cycles will not only make you better at investing, it will help you avoid financial pitfalls. In this episode of GMR, we discuss how long-term debt cycles…
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