The Consumerism Commentary Podcast

Today on the Consumerism Commentary Podcast, Jay Frosting speaks with John Graves, author of The 7% Solution: You Can Afford a Comfortable Retirement. They discuss the unique challenges baby boomers face when planning for retirement. Consumerism Commentary Podcast The 7% Solution: S07E03 / 159 jQuery(document).ready(function($) { $('#wp_mep_12').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Download – RSS – iTunes Table of contents [00:00] Introduction from Jay Frosting [00:33] Interview with John Graves – [00:44] The four money lessons baby boomers probably already know – [03:08] 40% of people close to retirement aren’t prepared – [04:19] Make the most of your last years of work and put off Social Security income – [06:12] Look at income sources aside from a typical salary – [07:11] Managing your own portfolio vs. using a financial advisor – [10:34] How to research stocks and be a value investor – [14:21] This system isn’t right for everybody – [15:34] Health is more important than wealth – [17:35] Giving back through volunteer work [18:17] End We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name. Theme music by Mindcube. Podcast 159: The 7% Solution is a post from Consumerism Commentary. New to Consumerism Commentary? Start here.

Today on the Consumerism Commentary Podcast, Jay Frosting and Luke Landes talk with Kim Palmer, author of Generation Earn and creator of Palmer’s Planners. Consumerism Commentary discussed Palmer’s Planners recently. In the interview, Jay, Luke, and Kim discuss household financial planning for right-brained thinkers and money issues for young people and women. Consumerism Commentary Podcast Palmer’s Planners: S07E02 / 158 jQuery(document).ready(function($) { $('#wp_mep_13').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Download – RSS – iTunes Table of contents [00:00] Introduction from Jay Frosting [00:33] Interview with Luke Landes and Kim Palmer – [00:49] Overview of Palmer’s Planners for right-brained thinkers – [03:15] Break down your overall strategy into low-level tactics – [04:18] Selling on Etsy to find more visually-focused customers – [06:10] Traditional publishing vs. self-publishing – [10:17] Becoming a mother inspired new planners and ways of working – [11:39] Does HBO’s “Girls” reflect real attitudes about money? – [15:53] Understand student loan rules and keep up with changes – [17:37] Trends among women’s salaries and priorities [21:10] End We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name. Theme music by Mindcube. Podcast 158: Kimberly Palmer, Palmer’s Planners is a post from Consumerism Commentary. New to Consumerism Commentary? Start here.

Today on the Consumerism Commentary Podcast, Jay Frosting and Flexo talk with Matt Schulz, Vice President of Content for InvestingAnswers.com. They discuss the implications of a recent legal ruling that excludes credit card application fees from the limit on fees that credit card issuers can charge within the first year. Consumerism Commentary Podcast Credit Card Application Fees: S07E01 / 157 jQuery(document).ready(function($) { $('#wp_mep_14').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Download – RSS – iTunes Table of contents [00:00] Introduction from Jay Frosting [00:33] Interview with Flexo and Matt Schulz – [00:49] Challenging the 25% fee limit specified in the Credit CARD Act – [06:00] Will application fees be more pervasive now? – [07:14] Are these fees limited to those with bad credit? – [09:18] A very high interest rate is worse than almost any other option – [12:34] The CFPB is still hearing public comments on this decision – [13:41] Application fees aren’t refundable and don’t guarantee credit – [14:21] The CFPB is trying to get more done before a possible Executive Branch change (addressing Republican criticisms of the bureau) – [18:33] Reduction in debt is part frugality and part banks reducing credit [20:02] End Update: We were mistaken during the recording regarding whether First Premiere refunds its application fee. Here’s what the terms and conditions say: “Right to Reject: You may still reject this plan, provided you have not used the Credit Account or paid a fee after receiving a billing statement. If you do reject the plan, you are not responsible for any fees or charges, including any Processing Fee(s) paid prior to receipt of your Account Opening Disclosures. Any such Processing Fee(s) previously paid will be refunded upon rejection of the plan.” It also says this: “Refund Disclosure: We will refund your Processing Fee and initial fees (those fees that are billed at the time of account opening) if (1) you have not used your Card for a Purchase or Cash Advance; and (2) you have not paid a fee after receiving a billing statement. We will refund any partial payment of the Processing Fee if you do not open your Credit Account within 85 days of approval. We will refund any Credit Limit Increase Fee charged to your Credit Account if you notify us, within 30 days of the date of the Periodic Statement on which it appears, that you do not wish to have the credit limit increase. This will result in a reversal of the credit limit increase. Except as described in this paragraph, these fees are non-refundable.” Here are the link for the terms and conditions. We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name. Theme music by Mindcube. Podcast 157: Credit Card Application Fees is a post from Consumerism Commentary. New to Consumerism Commentary? Start here.

Today on the Consumerism Commentary Podcast, Jay Frosting speaks to Joe Knight, co-author of Financial Intelligence: An Illustrated Guide to Knowing What the Numbers Really Mean. They discuss why and how employees in non-financial roles should learn to read financial statements, largely because accounting relies on a lot of educated guesses and biases. Consumerism Commentary Podcast Financial Intelligence: S06E25 / 156 jQuery(document).ready(function($) { $('#wp_mep_15').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Download – RSS – iTunes Table of contents [00:00] Introduction from Jay Frosting [00:34] Interview with Joe Knight – [00:48] Get a good working knowledge of how to read statements – [02:29] Why approach financial statements education through a comic book? – [03:53] Teaching through story-telling, including the fraud at WorldCom – [09:33] Accounting relies on guessing and biases (“cooking the books”) – [15:24] Many companies fail a basic finance test – [17:10] Three things that improve companies: training, access to financial data, and profit-sharing – [19:25] What is and isn’t in the graphic novel version – [20:02] Why Wall Street is increasingly focused on cash flow [22:12] End We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name. Theme music by Mindcube. Podcast 156: Financial Intelligence is a post from Consumerism Commentary. New to Consumerism Commentary? Start here.

Today on the Consumerism Commentary Podcast, Jay Frosting talks with Julie Clow, author of The Work Revolution. They talk about differing energy cycles, ditching time cards & meetings, and measuring impact instead of employee activities. Consumerism Commentary Podcast The Work Revolution: S06E25 / 155 jQuery(document).ready(function($) { $('#wp_mep_16').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Download – RSS – iTunes Table of contents [00:00] Introduction from Jay Frosting [00:32] Interview with Julie Clow – [00:42] Work is now global and 24/7, leading to over-saturation – [04:25] We shouldn’t use rules leftover from assembly line businesses – [06:26] Questioning assumptions about schedules, time cards and meetings – [08:06] Work doesn’t need to seem unpleasant – [11:10] Julie’s quiz to determine how poorly your business rates on a freedom scale – [17:18] Measuring impact instead of activities – [21:41] Implementing a Results-Only Work Environment as a startup vs. as an existing business – [22:40] Employee freedom leads to more responsibility and accountability – [25:07] Humans have different energy cycles [29:15] End We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name. Theme music by Mindcube. Podcast 155: The Work Revolution is a post from Consumerism Commentary. New to Consumerism Commentary? Start here.

Today on the Consumerism Commentary Podcast, Bryan J Busch talks with Dr. Charles Richards, author of The Psychology of Wealth. They discuss many aspects of the brain’s conscious and unconscious affects on spending and saving. Consumerism Commentary Podcast The Psychology of Wealth: S06E24 / 154 jQuery(document).ready(function($) { $('#wp_mep_17').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Download – RSS – iTunes Table of contents [00:00] Introduction from Bryan J Busch [00:33] Interview with Dr. Charles Richards – [00:45] The Family Operating System, its influence and how it works – [03:15] Examining your background and values – [03:50] The Singer sewing machine’s new way of buying – [05:37] The U.S. moved from owning what you need to putting luxuries on credit – [07:07] Are we doing it wrong? – [08:48] Your core values might just be hand-me-downs – [11:21] Moderate advice for solving debt problems – [14:02] Self-esteem’s influence on wealth, and increasing it through generosity [16:42] End We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name. Theme music by Mindcube. Podcast 154: The Psychology of Wealth is a post from Consumerism Commentary. New to Consumerism Commentary? Start here.

Today on the Consumerism Commentary Podcast, Bryan J Busch talks with Mitch Weiss, author of Life Happens: A Practical Guide to Personal Finance from College to Career (available from Amazon.com on the Kindle). They discuss many of the topics young people need to know in order to avoid the pitfalls of personal finance. Consumerism Commentary Podcast Life Happens: S06E23 / 153 jQuery(document).ready(function($) { $('#wp_mep_18').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Download – RSS – iTunes Table of contents [00:00] Introduction from Bryan J Busch [00:34] Interview with Mitch Weiss – [00:45] What are young people not being taught about finances? – [02:13] Student loans are a big problem right now – [04:10] A reasonable amount to borrow for college – [06:59] We should learn and teach more about acquiring and protecting credit – [09:16] What young people need to know about checking accounts, ATMs, and fraud – [17:56] Smart choices about health insurance – [21:26] Be open minded and polite when asking for discounts or a higher salary – [25:18] Employees shouldn’t be distracted by money worries [27:03] End We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name. Theme music by Mindcube. Podcast 153: Life Happens is a post from Consumerism Commentary. New to Consumerism Commentary? Start here.

Today on the Consumerism Commentary Podcast, Bryan J Busch talks with Ainslie Simmonds, Chief Marketing Officer of LearnVest. They discuss the free and paid features of LearnVest, how people are using the service and what sets it apart from other methods of financial planning. Consumerism Commentary Podcast LearnVest: S06E21 / 176 jQuery(document).ready(function($) { $('#wp_mep_19').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Download – RSS – iTunes Table of contents [00:00] Introduction from Bryan J Busch [00:34] Interview with Ainslie Simmonds – [00:45] Overview of LearnVest – [01:02] Why focus on women as an audience? – [02:05] LearnVest’s free educational products – [03:51] Connecting accounts and budgeting – [05:23] What LearnVest users like and want more of – [07:24] Different options for paid planning services – [08:18] Courses: a more involved boot camp – [08:47] How does working at LearnVest affect employees? – [10:15] LearnVest vs. investment firms – [12:11] High-quality content from classically trained journalists – [13:11] Future plans for LearnVest.com [14:32] End We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name. Theme music by Mindcube. Podcast 152: LearnVest is a post from Consumerism Commentary. New to Consumerism Commentary? Start here.

Today on the Consumerism Commentary Podcast, Bryan J Busch talks with Patrick van der Voorst, founder of ValueMyStuff, and Tom Dziubek speaks with Ralph Pinto from Chase about their participation in the Drive to End Hunger campaign. Consumerism Commentary Podcast ValueMyStuff / Chase Double the Difference: S06E21 / 178 and 168 jQuery(document).ready(function($) { $('#wp_mep_20').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Download – RSS – iTunes Table of contents [00:00] Introduction from Bryan J Busch [00:41] Interview with Patrick van der Voorst – [00:55] How ValueMyStuff works – [01:44] What are people asking for values of? – [02:23] People appraise things for selling and insurance – [03:04] Why art is considered an investment – [04:54] Comparing other investments to precious metals – [05:36] Patrick’s predictions for values going up – [07:24] Why certain items lose value overnight – [08:58] Valuable works of art as part of a retirement portfolio – [10:34] Older computers and iPods are now collectors’ items – [11:33] How to get the best estimate at ValueMyStuff.com [13:17] Interview with Ralph Pinto – [13:26] Chase’s Drive to End Hunger Campaign with AARP Visa Card – [15:19] Older Americans and food insecurity – [16:05] Success of the AARP Visa Card campaign – [17:07] Chase’s involvement and components – [18:45] Why older Americans donate more to charity – [19:42] Signing up for the AARP Visa Card – [20:28] Making donations directly to the campaign – [21:02] Partnership with AARP and NASCAR [21:56] End We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name. Theme music by Mindcube. Podcast 151: ValueMyStuff, Double the Difference is a post from Consumerism Commentary. New to Consumerism Commentary? Start here.

Today on the Consumerism Commentary Podcast, Bryan J Busch talks with Erin Botsford, author of The Big Retirement Risk. They discuss myths that Wall Street perpetuates about itself and Erin’s plan for a more sensible retirement portfolio. Consumerism Commentary Podcast The Big Retirement Risk: S06E20 / 150 jQuery(document).ready(function($) { $('#wp_mep_21').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Download – RSS – iTunes Table of contents [00:00] Introduction from Bryan J Busch [00:32] Interview with Erin Botsford – [00:44] How Erin learned that money buys choices – [03:48] The old retirement models don’t work anymore – [05:21] Myths about Wall Street – [07:35] Don’t rely on “What’s Your Number?” – [08:49] How the housing market crash was predicted – [10:46] Lifestyle Driven Investing: hierarchical retirement planning – [15:57] Erin’s advice about typical and atypical insurance – [17:48] Annuities and U.S. Treasuries are a good option for guaranteed income [19:08] End We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name. Theme music by Mindcube. Podcast 150: The Big Retirement Risk is a post from Consumerism Commentary. New to Consumerism Commentary? Start here.

Today on the Consumerism Commentary Podcast, Bryan J Busch talks with Flexo and Michael Kitces, Director of Research for Pinnacle Advisory Group. They discuss how online money management tools compare to personalized financial planning and other trends in the changing field of financial advice. Consumerism Commentary Podcast Trends in Financial Planning: S06E19 / 149 jQuery(document).ready(function($) { $('#wp_mep_22').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Download – RSS – iTunes Table of contents [00:00] Introduction from Bryan J Busch [00:32] Interview with Michael Kitces – [01:00] Different career paths toward financial planning – [03:40] Personal advice vs. online money software with advice components – [06:59] Clearing up the dizzying array of professional designations – [10:11] Where do the advisors’ suggestions come from? – [12:47] Typical clients, and how to attract more by making planning more accessible – [18:38] How can the industry appeal more to young clients? – [24:51] Finding the right planner for you – [27:26] Attracting young would-be planners [30:42] End We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name. Theme music by Mindcube. Podcast 149: Trends in Financial Planning is a post from Consumerism Commentary. New to Consumerism Commentary? Start here.

Today on the Consumerism Commentary Podcast, Bryan J Busch talks to John Taylor, president and CEO of the National Community Reinvestment Coalition. They talk about the benefits and drawbacks of Capital One merging with ING Direct USA, and how the Federal Reserve Bank is treating this merger. Consumerism Commentary Podcast CapitalOne Merger With ING Direct: S06E19 / 148 jQuery(document).ready(function($) { $('#wp_mep_23').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Download – RSS – iTunes Table of contents [00:00] Introduction from Bryan J Busch [00:33] Interview with John Taylor – [00:46] The merger between CapitalOne and ING Direct is not a done deal – [01:50] Ongoing criticism of the merger – [03:40] CapitalOne’s risk increases with its size – [06:56] What could change for ING Direct customers? – [09:41] How the Dodd-Frank bill affected this merger – [11:35] The free market needs to be paired with fairness – [13:12] Privacy may play too big a role in such mergers – [15:17] What can ING Direct employees expect to see change? – [16:14] The Fed should require more transparency – [18:00] Capital One made a $180B pledge that may be ignored – [18:49] The Federal Reserve Bank has taken small steps toward serving the public [20:49] End We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name. Theme music by Mindcube. Podcast 148: Capital One Merger With ING Direct is a post from Consumerism Commentary. New to Consumerism Commentary? Start here.

Today on the Consumerism Commentary Podcast, Bryan J Busch talks to Steve Repak, author of Dollars and Uncommon Sense. They discuss shifting your thinking so that you can develop the traits necessary to keep more of your money. Consumerism Commentary Podcast Dollars and Uncommon Sense: S06E17 / 171 jQuery(document).ready(function($) { $('#wp_mep_24').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Download – RSS – iTunes Table of contents [00:00] Introduction from Bryan J Busch [00:33] Interview with Steve Repak – [00:45] Changing your principles, priorities, and plans – [02:07] Setting aside time to focus on finances – [04:20] Creating realistic plans – [05:17] Common traits among people who have money – [09:26] Why people are compelled to spend all that they can – [10:23] The Uncommon Sense way to buy a car – [12:41] Building savings – [15:23] There’s no good debt – [16:30] How much tuition is too much? – [17:28] The 10-10-80 rule [20:36] End We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name. Theme music by Mindcube. Podcast 147: Dollars and Uncommon Sense is a post from Consumerism Commentary. New to Consumerism Commentary? Start here.

Today on the Consumerism Commentary Podcast, Tom Dziubek talks to MD, founder of the personal finance website Studenomics. MD talks with Tom about topics such as his inspiration for Studenomics, how he got through college without having to pay off student loans, and also about things that people in their early twenties need to consider if they’re thinking about buying a home. Consumerism Commentary Podcast Buying a House In Your Early 20s: S06E16 / 173 jQuery(document).ready(function($) { $('#wp_mep_25').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Download – RSS – iTunes Table of contents [00:00] Introduction from Tom Dziubek [00:36] Interview with MD – [00:53] MD’s inspiration for Studenomics – [02:22] The focus of Studenomics – [03:14] MD’s college years – [03:53] Starting off at a community college – [06:00] The start of the blog – [08:31] Paying for college – [13:32] Buying a home in your early 20s: Income considerations – [15:26] Considering your savings – [16:37] Taking into account your relationship status – [18:42] The need to be somewhat handy – [20:51] MD’s current projects [23:53] End We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name. Theme music by Mindcube. Podcast 146: Buying a House In Your Early 20s is a post from Consumerism Commentary. New to Consumerism Commentary? Start here.

Today on the Consumerism Commentary Podcast, Tom Dziubek talks to Jenny Kerr, founder of The Jenny Pincher. Jenny talks with Tom about how married women can better prepare themselves financially for a divorce. Some of the items she discusses are keeping individual checking accounts, knowing where the money is and being prepared to start a new job. Consumerism Commentary Podcast Protecting Individual Finances in a Marriage: S06E15 / 172 jQuery(document).ready(function($) { $('#wp_mep_26').mediaelementplayer({ m:1 ,features: ['playpause','current','progress','duration','volume','tracks','fullscreen'] ,audioWidth:400,audioHeight:30 }); }); Download – RSS – iTunes Table of contents [00:00] Introduction from Tom Dziubek [00:38] Interview with Jenny Kerr – [00:49] Jenny’s inspiration for article – [03:15] Individual bank accounts – [05:34] The need for a joint account – [06:13] Funding the individual account – [07:33] The individual account for emergency access – [08:57] Know where the money is – [10:27] Keeping your resume current – [12:06] Part-time work – [14:21] Understanding the necessities – [15:24] Knowing what benefits are tied to your spouse – [16:40] Identifying policies your spouse could benefit from [19:13] End We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name. Theme music by Mindcube. Podcast 145: Protecting Individual Finances in a Marriage is a post from Consumerism Commentary. New to Consumerism Commentary? Start here.