Maybe you’ve heard of the term “anchoring” when it comes to sales. Most likely you heard it when a fast-talking salesman threw out a couple of high figures for a fancy car just outside of your budget. (But hey! That’s okay, we have some more affordable models right over here… and look, you’re five dollars under your limit, no overspending here!) But, is it possible to use the power of anchoring to actually help you reach financial goals? In our featured piece today, which is both written AND read on-air by Emily Guy Birken, we’ll dive into how you can use the power of anchoring to cut your expenses, save more money, and find financial independence more quickly. Helping us dig into the topic is none other than the co-host of the BiggerPockets Money podcast (and Bigger Pockets CEO), Scott Trench. Of course, we’ll also have help from Paula Pant of Afford Anything, and our very own OG.
After we’re done with our anchoring and overspending discussion we’ll give our roundtable a little break while Joe rings up Angelo Poli from MetPro. Did being stuck inside for months on end cause you to pack on a Covid-19 pounds? Angelo will share some great strategies to get your lifestyle back on track.
Plus, do you have some horror stories when it comes to buying or selling We mixed things up on our Magnify Money segment this week so we could give Scott Trench a little fun. With some inspiration from a Reddit Real Estate post, we asked this question to the roundtable: What are your real estate buying/selling horror stories?
Of course, we’re also carving out some time for Doug’s trivia.
Thanks to MagnifyMoney.com for sponsoring Stacking Benjamins. MagnifyMoney.com saves users on average $450 when they compare, ditch, switch and save on credit cards, student loan refinancing, checking, savings and more. Check out MagnifyMoney.com for your savings.
Today’s Topic: Making Better Money Decisions and Not Overspending
- How to Use Financial Anchors to Make Better Money Decisions (Wise Bread)
- We want to give a big thanks to Emily Guy Birken! Not only did she write today’s great piece, she also donated some of her time to read the article for us. You can find more from Emily at her site: EmilyGuyBirken.com
You can check out more from Scott at: BiggerPockets.com
Want to keep up to date with Scott? You can find him on Instagram: @Scott_Trench
You can listen to the latest from the BiggerPockets Money podcast by clicking HERE.
Looking for Scott’s book? You can order it below:
Check Out Paula’s site and amazing podcast: AffordAnything.com
Follow Paula on Twitter: @AffordAnything
Today’s Friday Fintech: MetPro
After our discussion on saving and NOT overspending, we’ll turn things over to Joe and Angelo Poli from Metpro. A big thanks to Angelo for calling into the shortwave today! You can find more resources at MetPro.co/SB
- How much did Mark Wahlberg earn back in 2017 when he was the highest-paid actor in Hollywood?
- We mixed things up on our Magnify Money segment this week so we could give Scott Trench a little fun. With some inspiration from a Reddit Real Estate post, we asked this question to the roundtable: What are your real estate buying/selling horror stories?
Want the guys to answer your question? You can call into the Haven Life Line and get your question answered on-air HERE.
Join us Monday!
Ever think about how much impact your donated time and money is REALLY doing? Does it seem like your contributions to charities never seem to make a change in the world? On Monday we’ll be joined by Kris Putnam-Walkerly, advisor to many of the world’s richest philanthropists.