Episodios

  • Your Credit Score Demystified: What It Is, Why It Matters, and How to Take Control

    Your Credit Score Demystified: What It Is, Why It Matters, and How to Take Control
    Jan 14 2024
    What if your entire financial future hinged on a single three-digit number? In this episode, Damien exposes the outsized impact your credit score has on getting loans, renting apartments, and even landing jobs. He breaks down exactly what goes into this mysterious metric and why it varies between credit bureaus, shedding light on a topic that affects us all.


    You'll get the inside scoop on the major scoring models like FICO and VantageScore, and Damien will explain what number range you need to be in for excellent, good, fair, or poor credit. Damien even shares the best way to lock down your score against fraudsters trying to steal your identity, providing you with essential tips to protect your financial well-being.


    But the real shocker comes in the headlines segment when popular finance guru Robert Kiyosaki confesses to being $1.2 billion in debt - and says it's the bank's problem, not his! Damien rips apart this reckless statement and other nonsensical claims. He makes an impassioned case for why you need to stop taking advice from this conspiracy peddler, urging listeners to seek out more responsible financial guidance.


    In "The PSA Around the Web" segment, the stock market soared 25% last year. Is it time to cash out your stocks while they're peaking? Tune in for Damien's crystal clear advice on what your next move should be, as he navigates the complexities of market timing.
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    17 m
  • Boost Your Credit Score: The 5 Factors That Make or Break Your Credit

    Boost Your Credit Score: The 5 Factors That Make or Break Your Credit
    Jan 20 2024
    Damien from The PSA is back with yet another money-saving episode that promises to simplify your financial management. In this installment, Damien meticulously unpacks the 5 critical factors that constitute your credit score, assigning each a level of importance.


    Listeners will gain valuable insights as Damien explains why your payment history is so crucial, representing a significant 35% of your credit score. He shares expert strategies on how to enhance this aspect by judiciously managing your available credit. Damien's top recommendation is to maintain your credit card balances at the lowest possible level – ideally, you should aim for a zero balance by diligently paying off your bill on time and in full every month.


    Moreover, he addresses and debunks prevalent credit score myths, such as the misconception that carrying a balance on your credit card is necessary. Damien provides a clear-cut spoiler alert – carrying a balance is absolutely unnecessary and not recommended.


    For those who are beginning their credit journey, Damien doesn't leave you in the lurch. He offers practical, actionable advice on how to transition from having no credit to establishing a good credit rating swiftly. His guidance includes exploring the use of secured credit cards and the benefits of becoming an authorized user on someone else's account.


    In the Headlines segment, Damien delves into an intriguing study that examines the varying degrees to which money influences behavior across different cultures. He highlights the stark contrast between Western societies and countries like China and India. Additionally, he cautions listeners about the psychological pitfalls one might encounter when making substantial purchases, such as fixating on monthly installments instead of considering the total cost of ownership.


    This episode is a must-listen for anyone aiming to elevate their credit score, minimize interest expenses, and streamline their financial life. Damien delivers his message with his signature straightforward, empowering approach, dispensing invaluable wisdom akin to a sage neighbor sharing life lessons. Don't miss out on this opportunity to transform your approach to money management – tune in now and start mastering your finances with ease!
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    16 m
  • 5 Ways to Beat Inflation

    5 Ways to Beat Inflation
    Feb 2 2024
    Inflation is public enemy number one for the American budget right now. As prices continue rising faster than incomes, everyone feels the squeeze. From filling up your gas tank to buying groceries and paying rent or a mortgage, the impact is unavoidable. So what can you do besides feel powerless? A lot, actually. In this week's episode of The PSA, your money expert Damien outlines five solid tactics for inflation-proofing your finances so you can not only survive but thrive.


    First, Damien reveals what millionaires are buying at Dollar Tree. Hint: it's not just junk. These savvy shoppers stock up on certain basic necessities to save big money.


    Next, Damien dives into his two categories of tips for leveraging high inflation to your advantage: earning more and spending less. On the earning side, he explains why it pays to shift your cash into high-yield savings accounts when rates are up. Damien recommends his top picks for online banks offering over 5% APY. He also discusses how historically the stock market beats inflation over time, making now an ideal moment to invest those longer-term funds.


    On the spending side, Damien urges you to pay down any variable-rate debt before that debt gets even more expensive. He also recommends pausing spending on goods hit hardest by inflation, like lumber, and waiting for prices to stabilize. Finally, as a long-term customer, use this inflationary period to call up your cable company, gym, or streaming services and negotiate better rates. You have leverage - use it!


    Damien wraps up the episode by exposing how retailers use sneaky price anchoring tactics to make deals seem hotter than they really are. He shares his favorite apps to track price history so you can tell an actual bargain from a marketing gimmick.


    If you feel overwhelmed by the relentless impacts of inflation, let Damien give you a game plan to tip the scales back in your favor. Tune in to this week’s episode of Your Money On Easy Mode to inflation-proof your money and regain control.
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    10 m
  • 4 Money Mistakes That Are Costing You a Fortune

    4 Money Mistakes That Are Costing You a Fortune
    Feb 5 2024
    Listen up, I've got some tough love to dish out today, but it comes from a place of wanting the absolute best for you and your financial future. In this no-nonsense episode, I reveal the biggest money mistakes that most people make, often without even realizing how much they're sabotaging themselves. Get ready to have your eyes opened.


    First, we get rare insider access into the world of the mega-rich and their secret struggles. I share fascinating tidbits from an interview with a therapist who caters exclusively to high-net-worth individuals in New York City. Despite having it all, his clients still deal with isolation, entitlement, distrust, shame, and more. As he explains, money turns up the volume on life - it makes the highs higher and the lows lower.


    Then we dive into the main segment: the four key areas where you are failing with your money right now. I start with the most basic and boring yet crucial mistake - not budgeting. I explain practical steps for getting your spending under control, from tracking every transaction to leveraging helpful apps. Consider this your wake-up call.


    Next, we look at how only paying the minimum balance on debts keeps you stuck in a vicious cycle for decades. I offer proven strategies like the Debt Snowball and Debt Avalanche to accelerate your payoff timeline. Then we discuss the critical importance of an emergency fund, and how being caught unprepared can send you right back into the chains of debt. Finally, we touch on why buying too much car causes buyer's remorse and financial pain.


    I wrap up with a short video clip breaking down the troubling trend of retailers eliminating free returns. The days of abusing lenient policies are over thanks to good old wardrobing. But not to worry - I've got five sneaky hacks to help you avoid new return fees.
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    13 m
  • Credit Card Confidential: How They Really Work and How to Win the Game

    Credit Card Confidential: How They Really Work and How to Win the Game
    Feb 12 2024
    In this week's headline story, we get an eye-opening look at the realities of surviving on just Social Security in retirement. Damien reads a profile of Eric Miller, a 70-year old former chef forced into early retirement by health issues. Eric now lives on $1400 a month from Social Security, renting a room in his sister's basement just to scrape by. His story illustrates the harsh truth - for many seniors, Social Security alone doesn't provide anything close to a comfortable retirement. Don't let this happen to you. Start saving and investing now so you can retire on your terms.


    The main segment tackles a listener question on credit card use. Like many people, Eden grew up thinking credit cards were bad news. But now she's questioning that assumption. Damien sets her straight, breaking down exactly how credit cards work and his rules for using them responsibly. You'll learn what happens behind the scenes when you make a purchase, key dates in the credit card payment cycle, how to maximize rewards while avoiding interest, and Damien's "Four Commandments" that ensure you master the credit card game instead of falling prey to it. If you use credit cards the right way, they can make your financial life much easier.


    We wrap with a PSA on how to make sure you always get the best price on purchases from major retailers like Walmart and BestBuy. If an item you bought gets marked down shortly after your purchase, you can often get a refund for the difference thanks to price protection policies. Damien shows you how to take full advantage.
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    17 m
  • Podcast Trailer

    Podcast Trailer
    Feb 18 2024
    Well, we did it. We created a podcast. My name is Damien and I spread financial knowledge that puts your money on easy mode.

    I'm that weird friend of yours who obsesses over credit card signup bonuses, high-yield savings account interest rates, and index fund expense ratios.

    Please have a look around, listen to a few episodes, and I hope you'll subscribe.

    In each weekly episode, I'll cover an interesting news item related to personal finance, then we'll tackle a main topic, and finally, I'll give you a taste of what else I've been up to around the internet.

    Thanks for stopping by. Hope you enjoy what you hear. Please subscribe.
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    1 m
  • 4 Big Investing Mistakes You're Probably Making

    4 Big Investing Mistakes You're Probably Making
    Feb 19 2024
    Damien is back with another no-nonsense episode to help you take control of your money and investing. This time, he tackles the topic of why self-checkout has been failing retailers and customers alike. Get the inside scoop on the promises made by self-checkout technology versus the disappointing reality. Find out why major retailers like Target and Walmart are actually removing self-checkout kiosks from some stores and admitting it hasn’t delivered on expectations. You’ll hear surprising quotes from Dollar General’s CEO about why they relied too heavily on the tech this past year and how they’re course-correcting in 2024.


    Then it’s time to highlight the four biggest investing mistakes you are likely making right now, whether you realize it or not. Find out why not investing at all can seriously shortchange your future self. Learn why you should avoid the temptation to pick individual stocks and instead embrace market-tracking index funds. Discover how attempting to time the market often backfires. And get educated on the hidden, excessive fees that can gobble up your returns over time if you don’t watch out. Damien breaks it down in simple, empowering language and offers actionable alternatives to put you back in control. No jargon, no judgment, just real talk.


    Finally, stick around for a recap of the heated debate Damien recently sparked on social media by calling out gold as a poor investment. Hear which three hard-hitting anti-gold videos got the gold bugs riled up to defend their territory. Find out Damien’s tips for what to invest in instead of the shiny precious metal.
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    12 m
  • Southwest Companion Pass Secrets: How to Travel in Pairs for Pennies

    Southwest Companion Pass Secrets: How to Travel in Pairs for Pennies
    Feb 26 2024
    Do you ever wish you could take a friend or family member on trips for next to nothing? Well, you're in luck. In this episode, I'm unveiling all my secrets for scoring the ultra-valuable Southwest Companion Pass.


    This is the insider info you need to travel more and spend less. Get ready to learn how a strategic approach with credit cards can unlock almost two full years of buy-one-get-one-free flights on Southwest for you and a designated companion.
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    12 m