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Money Plan SOS

The no-debt approach to living a full life in a country addicted to credit cards, car loans, and an unrealized bondage to “building a good credit score”.

This show will make you think differently about the way we handle money - while also encouraging you to save and spend wisely.

This feed offers the 200 public releases of the Money Plan SOS podcast, plus bonus recordings never heard before on Apple Podcasts, Spotify or Google.

Enjoy! And pay attention - not interest!

The Money Plan SOS podcast was retired in December 2015, the month Steve and his wife paid off their mortgage!

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  2. The 8 Great Mistakes of Investing. Also, Fractional Savings Accounts

The 8 Great Mistakes of Investing. Also, Fractional Savings Accounts

Aug 28, 2015

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

Full show notes at https://moneyplansos.com/8-great-mistakes-of-investing-and-fractional-savings-accounts/ 

The 8 Great Mistakes of Investing are:

  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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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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