J. Money: Budgets, Building Wealth, and Living Well

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Our relationship with money is an interesting thing. On the surface, money is always on our radar. Everywhere you look in our culture, so much energy and attention gets devoted to material gain. Yet the average person has a very poor grasp on where his paycheck goes each month.

Today on the podcast, unorthodox finance blogger J. Money shares how to get a better handle on your money…and your life. We talk about the the importance of tracking your net worth (no matter how small), the biggest financial mistakes most people make, why challenging mainstream lifestyle norms can be the easiest way to build wealth, and more.

J. Money

J. Money is an award winning blogger, consultant, experimenter, and daddy of three little boys. With over a decade of building communities online, Jay’s projects have reached 30+ million views and are regularly featured in the media. An avid coin collector, coffee drinker, and hip-hop fan, Jay loves getting people excited about finance and is best known for his personal finance blog, BudgetsAreSexy.com. You can learn more about Jay at jmoney.biz.

Don’t tell me what you spend your money on. Show me your budget, and I’ll tell you.”

Episode Highlights

Money is a taboo subject—most people don’t talk about it enough
Budgeting isn’t sexy, but it gives you confidence, which is sexy
Why tracking your net worth is the new budgeting
If you’re working at a job you hate AND you aren’t saving, you’re wasting your time
The Lifetime Wealth Ratio, and how it can give you perspective on your lifetime earnings
The biggest money mistake: not knowing were your money goes
Lowering your expenses not only lowers your current expenses, but also means less money is needed to achieve your target retirement goal
Spend on the stuff you care about, and stop spending on the stuff that doesn’t bring you value
Why Jay ended up selling his his other successful blog, Rockstar Finance
You can’t help other people if you can’t help yourself