It’s been another great year for the Brunch & Budget Podcast! We’ve had some amazing opportunities in 2016 to partner with great organizations like the CFED (Corporation for Enterprise Development), started a new interview series called #DeadDayJobArmy featuring entrepreneurs of color, and crossed over 130 shows providing financial education, advice, and context for how big economic issues affect your wallet.
Below are the top 10 most popular shows from 2016. Take a listen or listen again and get ready for a fun and exciting 2017!
Is there a way to invest in real estate without having to buy a house? On this week’s show, we invited Kendall Davis, who manages Investments at Fundrise, a Real Estate Investment Trust (REIT) company, to discuss the benefits, potential rewards, and main risks to consider when investing in a REIT so you can decide if it makes sense for your portfolio.
A REIT is a Trust that purchases multiple real estate properties, usually multi-family homes or big commercial buildings, and pools together investors’ funds to make the investment. It’s a way to invest in real estate without having to deal with the headache of being a landlord.
Kendall walks us through the main things to look out for when researching a REIT, the potential returns, and the main drawbacks of investing in such a product.
The discussion contained therein is qualified in its entirely by the disclosures at fundrise.com/oc. It neither constitutes an offer for nor a solicitation of interest in any securities offering. No money or other consideration is hereby being solicited, and will not be accepted without such potential investor having been provided the applicable offering document. Joining the Fundrise Platform neither constitutes an indication of interest in any offering nor involves any obligation or commitment of any kind. Past performance is not indicative of future results.
This week, we spend the hour talking through all the critical elements you need to have a fully functioning financial plan.
There’s going to be a ton of information so get out your notebooks or iPads or whatever fancy writing device you got for the holidays and let’s dig into your finances for 2016!
This is it, y’all.
Welcome to the Dead Day Job Army, a monthly Brunch & Budget series where entrepreneurs and freelancers of Color share their stories and talk about the real. We ask folks to leave their shiny pictures and instagram highlights at the door and tell us what it’s really like to do the work, put in the time, and devote your life to your work.
It’s not easy to start your own business and it’s even harder when it feels like you have to explain to your family what you do every time you see them, when you walk into an event and can count on one hand the PoC in the room, when you try to ask for what you’re worth, but don’t want to get passed over for the next person.
TastyKeish, founder of Bondfire Radio, morning show host of TK in the AM, speaker, host, MC, all around renaissance woman, joins us for the very first show of the series, which we recorded live at the 3rd annual Bondfire Radio audio festival.
We talk about how the very lonely road of being a 1st generation immigrant child with zero generational wealth doing work that no one “gets.” TK holds nothing back in this interview.
#7 | b&b105 How to budget your way to financial independence
Here’s the big secret – budgeting doesn’t work!
At least not in the way we were taught it was supposed to work. When people hear the word budget, they think of it as a restriction, as being limited or denying themselves of something.
In this weeks’s show, we welcome you to think of it a different way – as a reflection of what you truly value and a way to free yourself of judgment and baggage you’ve carried in the past.
Looking at your expenses and giving yourself a guideline for how you want to spend your money (because really, a budget is a guideline, not a rule) can give you a true sense of freedom if you think of it and use it a tool to help you reach your goals.
#6 | b&b124 How to close the racial wealth gap – Special Report from CFED’s Assets Learning Conference
Dyalekt and I had the honor of attending CFED’s Assets Learning Conference this year, where a group of policy makers, researchers, and non profit direct service providers come together and share their best ideas and best practices on how to lift people out of poverty.
This year, the theme of the conference was how to close the racial wealth gap. If you don’t know CFED, you have probably come across their research at some point. They were the folks who put out the study that it would take 228 years for the average Black family to amass the same amount of wealth as the average White family today: http://blogs.wsj.com/economics/2016/08/09/it-would-take-228-years-for-black-families-to-amass-wealth-of-white-families-analysis-says/. Yeah, these guys.
This is the first in series of episodes we’ll be doing on the big issues and big movements the conference focuses on. This episode goes over the major problems that need to be solved in the racial wealth gap and next week, we’ll talk about some of the solutions and research on how to close the gap.
Before you can even get your money stuff together, you need to understand your relationship with money first, and to do that, you’ll need to know what your money personality is and how your personality affects every aspect of your finances.
We’ve spent the last two years honing and refining the money personalities we discussed all the way back in Episode 1 and go over the 4 money personalities:
– Money Monk
And how each personality deals with income, budgeting, credit, debt, saving, etc. and what strategies you can use that speak directly to your relationship with money.
Take the quiz at brunchandbudget.com/personality.
#4 | b&b126 Why homeownership as a Person of Color is more than an investment, it’s how to build a legacy
In Part 3 of our coverage at CFED’s Assets Learning Conference 2016, we explore one of the quickest ways to close the racial wealth gap – increased homeownership for People of Color.
Funny story, we almost did a show on race and homeownership right before we found out about the Assets Learning Conference and as soon as we saw the titles of their sessions (one literally called “Race & Homeownership”), we knew that 1. we had found our people, and 2. we had so much more to learn.
“You don’t need to call something an investment just because you want to buy it. It’s okay to buy something because it’s something you value.”
We hear it all the time. “Think of it as an investment in yourself.”
But what does that really mean? When you hear someone else tell you that, are they just trying to get you to spend money with them?
On this week’s show, we unpack the phrase “Investing in yourself,” from how to avoid being duped into buying something that isn’t actually an investment, to the difference between investing in yourself vs. taking care of yourself, to how to figure out what “investing in yourself” means for you.
#2 | b&b128 #DeadDayJobArmy Lauryn Williams on being a financial planner of Color in a profession that is 96% white
We are extremely excited to have Lauryn Williams on the show – former Olympian turned financial planner (who also has an MBA because, why not, right?) who tells us about her journey from betting friends they couldn’t run faster than her to becoming a 3-time medal winner, to deciding she needed to help her fellow athletes master their finances.
She goes in on what it’s like to be a woman of Color in the financial planning profession, the tough parts about running her own business, and what makes it all worth it.
Find her at worth-winning.com and on twitter at @lauryncwilliams.
I never do this, but I actually re-listened to our Saving & Investing episode on Bondfire Radio this week (Week 3 of the 5-Week Financial Plan!) and took notes! I had designs for the show to go in one direction, and it went in a completely, unexpected, magical direction instead.
You see, the concept of saving money has always stumped me.
Why does it seem to easy for one person to save and seem almost impossible for another?
No matter how many compound interest charts you see, how much more money you’re making, how many times you tell yourself it’s going to be different this year, it just doesn’t happen.
If you don’t have time to listen to the episode (although all the relationship and diet analogies are pretty damn hilarious), here is a blog post with my top takeaways for you.