Episode 3: Money Is A Tool
09/04/24 • 21 min
In this third episode of the Melby Money Show, host Shaun Melby explores a transformative concept for Millennials: viewing money as a tool. The episode explores common misconceptions that create a scarcity mindset and limit financial potential, emphasizing the importance of shifting perspectives to see money as a means to achieve goals. Additionally, the episode offers practical strategies to overcome limiting beliefs and addresses the economic concepts of inflation and deflation, discussing their impact since the COVID-19 pandemic. The benefits of compound interest and the importance of financial education are also highlighted, along with actionable steps to start using money strategically. The episode concludes with a call for community engagement and ongoing learning.
00:00 Introduction to the Melby Money Show
00:33 Changing Your Perspective on Money
02:23 Current Events: Inflation and Deflation
06:39 Understanding Compound Interest
08:12 Practical Steps to Shift Your Money Mindset
10:48 Overcoming Limiting Beliefs About Money
14:20 Actionable Steps for Financial Success
17:17 Conclusion and Final Thoughts
This podcast is for informational and educational purposes only. This podcast is not financial advice.
In this third episode of the Melby Money Show, host Shaun Melby explores a transformative concept for Millennials: viewing money as a tool. The episode explores common misconceptions that create a scarcity mindset and limit financial potential, emphasizing the importance of shifting perspectives to see money as a means to achieve goals. Additionally, the episode offers practical strategies to overcome limiting beliefs and addresses the economic concepts of inflation and deflation, discussing their impact since the COVID-19 pandemic. The benefits of compound interest and the importance of financial education are also highlighted, along with actionable steps to start using money strategically. The episode concludes with a call for community engagement and ongoing learning.
00:00 Introduction to the Melby Money Show
00:33 Changing Your Perspective on Money
02:23 Current Events: Inflation and Deflation
06:39 Understanding Compound Interest
08:12 Practical Steps to Shift Your Money Mindset
10:48 Overcoming Limiting Beliefs About Money
14:20 Actionable Steps for Financial Success
17:17 Conclusion and Final Thoughts
This podcast is for informational and educational purposes only. This podcast is not financial advice.
Previous Episode
Episode 2: Navigating Financial Anxiety
In this episode of the Melby Money Show, host Shaun Melby addresses the common financial anxieties faced by millennials, such as the fear of making mistakes, dealing with financial jargon, and worrying about not having enough money. Shaun emphasizes the importance of understanding and confronting these fears to gain financial confidence and control. He provides practical strategies including financial education, setting manageable goals, and seeking professional advice. Additionally, the episode outlines actionable steps like budgeting, tracking expenses, building an emergency fund, and beginning to invest. The ultimate goal is to equip listeners with the knowledge and tools needed for financial empowerment and stability.
00:00 Introduction to Financial Anxiety
01:22 Common Financial Fears
04:18 Overcoming Limiting Beliefs
06:14 Practical Strategies for Financial Control
08:17 Budgeting and Emergency Funds
09:47 Investing Basics
10:39 Recap and Final Tips
12:20 Conclusion and Farewell
This podcast is for informational and educational purposes only. This podcast is not financial advice.
Next Episode
Episode 4: What Is Wealth?
In this fourth episode of the Melby Money Show, host Shaun Melby explores the true meaning of wealth, emphasizing that it extends beyond financial stability to encompass physical, mental, and emotional well-being. The episode discusses the importance of aligning financial goals with personal values and how wealth can contribute to overall health, happiness, and family well-being. Shaun also addresses the impact of the Federal Reserve's potential interest rate cuts and the role of basis points in financial decisions. Drawing parallels with the character Don Draper from 'Mad Men,' the episode illustrates the hollowness of wealth when it lacks purpose and fulfillment, encouraging listeners to focus on a balanced, rich life that's more than just monetary gain.
00:00 Introduction to the Melby Money Show
00:52 Exploring the True Meaning of Wealth
01:26 Current Events: Federal Reserve Meeting
03:25 Understanding Basis Points
04:47 Lessons from Mad Men
07:24 Aligning Wealth with Personal Values
13:44 Conclusion and Final Thoughts
This podcast is for informational and educational purposes only. This podcast is not financial advice.
Melby Money Show - Episode 3: Money Is A Tool
Transcript
Welcome to the third episode of the Melby money show. I'm your host, Shaun Melby. And today's episode, we'll be exploring a crucial topic that can transform the way you think about and interact with money. Viewing money as a tool. For many millennials, money is often associated with stress, anxiety, and even fear. We've grown up, hearing phrases like money doesn't grow on trees or money is the root of all evil. Which can lead to a scarcity mindset, a
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