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Mind Wealth Podcast

Mind Wealth Podcast

By Andrew Johnson

Welcome to the Mind Wealth Podcast where we teach you to think differently about money and make changes in the way you manage your money so that you can take home more profit, pay less taxes and live a better life.
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Cashflow Explained

Mind Wealth PodcastApr 16, 2021

00:00
39:40
Cashflow Explained

Cashflow Explained

What is Cashflow? Basically Money In, Money Out

How much you earn determines how much you spend.

How do we determine where the money goes? We have obligations, needs & wants.Do you know how much you need to meet these expenses?

What about Debt? What type of debt do you have? How much debt do you have? Is it good debt? (borrow to invest and earn an income) Or is it bad debt? (borrow to consume or to spend on stuff that depreciates in value or wears out) Who is helping you best manage your debt? (Who do you go to for advice on the proper use of debt?

Why do you spend the way you do? What is the motivator? Are you an impulse spender? Do you have a budget? Or do you have a spending plan?

Do you know the difference between Working Cash Flow and Active Cash Flow?

Who do you go to for help to regain control over your cashflow? I would like to suggest that it’s not the current institutions who are currently in control of it. Who would that be? Canada Revenue Agency, Banks, Insurance Companies, Wayfair, Amazon, Credit Card Companies, Walmart, Best Buy, EBay?

You can earn more money. You can spend less money. You can keep more of what you earn. You can save your money.

Every dollar you spend should be a conscious decision. Credit cards and debit cards make this hard to achieve. Listen up. You will learn something today that you may not have heard before.

Apr 16, 202139:40
Basing your retirement plans on things that are out of your control

Basing your retirement plans on things that are out of your control

“If you continue to think the way you have always thought, you will continue to get what you have always got.” How has that been working for you?  

If you discovered something that was no longer true, when would you want to know the truth?  In this episode, we discuss the importance of regaining control over your cash flow, debt unification & debt reduction strategies, Crypto opportunities, real estate and home ownership, access to cash or capital, emergency savings and how wealth is created.  

The first thing we need to change is our attitude and our perspective.  "When you change the way you look at things, the things you look at change." Dr. Wayne Dyer.  

What we have done for years may no longer be working. What can or should we be doing differently?  

You will not be interested in a solutions until you realize you have a problem.  Part of our responsibility, is to help you identify some of these problems.

Apr 02, 202148:44
Devaluing the Dollar

Devaluing the Dollar

What can we do to protect ourselves from the continual devaluing of the Canadian dollar? The past year of the government aid to the Canadian people has brought a HUGE devaluation of the dollar as compared to other years. What does this mean for us? What does it mean for our grandchildren? How can we, as everyday citizens, mitigate our risk against what is happening and the decisions being made by our government? This episode goes over some of the options we have, some of the actions we can take, and what to work towards in the future.

Mar 24, 202157:00
Crypto! How is it good or bad?

Crypto! How is it good or bad?

What do we say about cryptocurrencies? Well, there is a lot out there about it and a lot of people who will sing it's praises to the rooftops. For the most part, we are talking in this episode about the technology relating to currencies (and not about it's other uses). What are the pros and cons? How is it different than the standard currency of a country? And how can we position ourselves to maintain control of our wealth in the years to come (regardless of how the adoption of crypto currencies ends up). Take a listen!

Mar 16, 202140:29
Debt Unification - One of the Best First Steps

Debt Unification - One of the Best First Steps

One of the best first steps in getting your finances under control and moving towards being financially independent is the idea of Debt Unification.  Many other people call this same term "Debt Consolidation", but we prefer the term Debt Unification. In this episode we discuss what that entails and why you'd want to do it. We also discuss the pitfalls of debt unification in terms of what might go through a persons psychology when they suddenly have empty credit cards and lines of credit. 

Apr 01, 202011:05
Cashlow should be your goal
Mar 25, 202011:56
Why you might want a line of credit on your house before you retire

Why you might want a line of credit on your house before you retire

A lot of people have the goal to pay off their house before they retire, but there is a slight problem with that; once the house is paid off, you lose access to the money and the equity in your house. In this episode, we discuss why it might make sense to get a line of credit on your house before you retire (while you are still making a good income). This can substantially increase your financial freedom when you retire and unlock one of your biggest assets. 

Mar 18, 202011:13
Investing Appropriately and Planning for Retirement
Feb 06, 202020:53
What's the value in incorporating your business?
Jan 29, 202015:52
Business Owners: Let's talk about how you pay yourself
Jan 15, 202021:18
What is your biggest asset?

What is your biggest asset?

In this episode we discuss assets and what you should consider to be your greatest asset. How can you protect this asset? 

Want to get some extra wealth insights as we think of them? Subscribe to our Telegram channel and get instant notifications each time we add an extra insight or revelation that is worth talking about. Here is the link to join: http://mycustombank.com/revelations/

If you liked this episode, you are going to love our free online workshop that explains this concept and many others in more detail. The True Wealth Workshop will give you the tools to get out of debt quicker and get your finances in order the right way. Signup for free for the online video workshop at http://mycustombank.com

Jan 08, 202015:03
From Increasing Debt to Amazing Cashflow - Andrew's Story
Jan 01, 202009:11
Mortgage Interest is Reverse Compound Interest in Favour of the Banks

Mortgage Interest is Reverse Compound Interest in Favour of the Banks

The title of this episode is the puchline. Once you realize JUST how much you are paying in mortgage interest, you'll want to make sure that you pick the right kind of mortgage for you and your situation. We discuss our favourite solution in this episode, but there are several other alternatives that might be more suitable for you and your situation.

The mortgage details your lender doesn't want you to see

A mortgage quote where someone would have been paying 61% interest the first year they were making mortgage payments? Whaaat? That's right, when you look at the amortization schedule for a mortgage, the first few years typically have over 50% interest! It's the magic of compound interest, in reverse, and in favour of the bank. If you want to learn how you can get around this, you had better checkout todays episode. 

Conclusion

A mortgage is probably one of the biggest financial decisions you make in your life. Choosing and using the right kind of mortgage is crucial to getting out of debt faster while also still living your life and enjoying a home that fits your lifestyle and the income you have. Don't take this episode lightly

Want to get some extra wealth insights as we think of them? Subscribe to our Telegram channel and get instant notifications each time we add an extra insight or revelation that is worth talking about. Here is the link to join: http://mycustombank.com/revelations/

If you liked this episode, you are going to love our free online workshop that explains this concept and many others in more detail. The True Wealth Workshop will give you the tools to get out of debt quicker and get your finances in order the right way. Signup for free for the online video workshop at http://mycustombank.com 

Dec 19, 201925:05
Have you done the math on your vehicle payments? We have a better way
Oct 03, 201915:60
The best way to invest: Never lose money
Sep 26, 201915:41
Mortgage Insurance Protects The Bank, Not You
Sep 18, 201912:25
Don't pay yourself as an employee and don't pay income taxes on your medical expenses
Sep 12, 201911:60
The problem with traditional advice and how it affected our friend
Sep 06, 201916:04
Pilot Episode - Why should you listen? What is the Mind Wealth Podcast About?
Aug 26, 201919:42
Mind Weath Podcast Trailer - Overview
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