Calm Cash

The latest data is in...and we are still stressed out even as the pandemic continues to improve.  On this episode, Ben covers where we currently stand with stress and anxiety, and then reviews how to improve your own distress tolerance and support others that need help coping with their mental health.  

Did you know you can achieve more, boost your happiness and cut out unproductive habits in just 20 seconds? It sounds too easy but it's true. Understanding how we handle the path of least resistance and using the 20 Second Rule to our advantage can transform our day and help us form new, healthy habits. On this episode, Ben walks us through the science and examples of the 20 Second Rule!

What do newborn babies and the economy have to do with each other? A lot actually. In this episode, Ben discusses how changes in birth rates can impact your overall financial health and the broader health of a country’s economy. To protect yourself and your financial future, Ben outlines 3  steps you can take to make sure your money is on track for an uncertain future.

Making decisions and taking action based on things we believe that turn out not to be true can be devastating, especially when it comes to our money. So today let’s talk about the illusion of confidence, how to overcome this cognitive bias and how we can apply principles to create a sound strategy for our money and investments.  Today we cover the Dunning Kruger Effect, tips to prevent the Illusion of Confidence and how to build an investment strategy for 2021 based on what we know and what we don't.

Help Calm Cash grow by spreading the word to friends and family!

Happy New Year!  The calendar has turned which is a refreshing start but you may be feeling the pressure to set some resolutions for 2021.  Today Ben talks about why he isn't setting resolutions this year and discusses the "Four M's" for those that are ready for change and discovery through goals and resolutions.

If you are looking to be your best, self-reflection, also known as introspection, should be a key behavior to find meaning and learn to drive growth. As this year comes to a close, it seems more important than ever to know who you are and reflect on what this year has put us through. So today for a final time in 2020, let’s talk about self-reflection and why you should make this part of your process to be your best self in 2020 and beyond.

The holiday season is here and that means gifts and presents for friends and family. And that can mean stress and anxiety on what to buy for those people that they will actually like. Well, I got your back!  Today I will roll out the first Calm Cash Gift Guide to give your friends and family the gift of health and wellbeing this holiday season. This was fun to put together and features some of my favorite things. Let’s go!

List of gifts and where to find more info:

Freshly meal subscription service: www.freshly.com

William Chris Vineyards Wine Club: www.williamchriswines.com

Yeti Rambler 10 ounce wine tumblers: www.yeti.com

Weber iGrill 2 bluetooth thermometer: www.weber.com

Urthbox healthy snack box: www.urthbox.com

Criquet shirts: www.criquetshirts.com

Mack Weldon underwear: www.mackweldon.com

Sworkit at home fitness app: www.sworkit.com

Insight Timer app for mental health: www.insighttimer.com

Calm app for mental health and sleep: www.calm.com

Yoga mat: www.newmefitness.com

"The Psychology of Money" book: available on Amazon 

Thanksgiving is right around the corner and there isn’t a better day of the year to focus on and express our gratitude. Despite contested elections, pandemics, racial injustice and so many other concerns the world faces, there is much to be thankful for and good things ARE happening every day. So our job is to find the good and celebrate and thank those that help there be good in our own lives. As James Allen says, “no duty is more urgent than giving thanks” so let’s get going on a gratitude refresh.

Martin Luther King Jr. said “life’s most persistent and urgent question is, what are you doing for others?” Now more than ever, we need to not only look out for each other but lend a hand through our actions to those in need. But the secret in helping others is not only does it make our communities better, it is good for us too. So today, let’s look at how giving back actually gives us a ton back in return.  

Find opportunities to volunteer virtually at www.pointsoflight.org

Today we are going to talk about Seasonal Affective Disorder or you may know it better as SAD, a serious condition if it affects you or a loved one. And with the pandemic still raging, doctors and therapists are worried more people than ever may be impacted by this mood disorder this Fall and Winter. But by knowing the symptoms, taking some proactive steps and looking out for each other, we can keep the next 6 months happy instead of getting SAD.

Today we are covering something that can be pretty awkward, talking to your spouse or partner about money. Let’s call it the Money Talk. But with a little bit of planning and an understanding of why it matters to you and your loved ones, you can get through it and make it a regular part of relationship conversations.

There’s been a lot of talk recently about self care and how important it is that we take seriously our physical and mental health with everything going on. There are tons of articles about mindfulness and how to have a yoga practice at home and eat right but, in my opinion, there hasn’t been enough conversation about some key areas of self-care: going to the doctor and getting screenings when necessary. So today let’s look at some of the data and insights on where things stand with getting care, and how we can all be a little more informed and when and when not to seek out care.

Ok, answer this question for me. It is 3 o’clock on a Monday afternoon…how are you feeling? Do you have energy? Are you crushing your to-do list? Or are you dragging through your afternoon? Most of us struggle with a mid-day swoon and that is totally normal. But with a little bit of know how and some tips and tricks, you can boost your energy and get back on track.  Learn how on this episode of Calm Cash! 

Picking a healthcare plan can be confusing and stressful but Ben has a plan you can execute in just 30 minutes to assess your options and find the right fit.  He will talk through how to allocate your time, some simple math you can do to understand the potential cost impacts and how to make sure your doctors are in-network, a critical aspect of staying mentally, physically, emotionally and financially healthy.

The news is full of all kinds of stats about how different groups, like women and people of color, save less or have fewer assets than white men. And those stories are true but they are just symptoms of the actual problem and not enough people talk about what is really going on. They get paid less than white men and the pay gap for women and people of color is alive and well today. So let’s talk about what the pay gap is and how we can all do our part to make it better. Instead of minding this gap, let’s mend it.

You’ve probably heard the quote “laughter is the best medicine”. That seems like a nice sentiment and something that can’t possibly be true. But it turns out that laughter is an essential part of our physical health and mental health and something we shouldn’t ignore. And while modern science is proving this with research and data, people as far back as the 1300s knew the importance of humor and health. Henri de Mondeville, a French surgeon, helped aid recovery from surgeries by prescribing humor therapy.  "Let the surgeon take care to regulate the whole regimen of the patient's life for joy and happiness, allowing his relatives and special friends to cheer him and by having someone tell him jokes," he wrote. Sounds pretty good to me. So today let’s talk about the importance of laughter and I’ll prove to you that it is truly the best medicine and something we desperately need in 2020.

While many parts of American life aren’t going the way we want in 2020 between the pandemic, social unrest that continues to rage because of racial inequality and millions still unemployed, there is one thing that couldn’t be going better: the stock market. We just had the best returns for the month of August since 1984. The Dow Jones Industrial Average was up 7.6% and the S&P 500 rose 7% too…its highest gain in August since 1986. But the markets have stalled to start September and some uneasiness is setting in. If you are properly diversified, you probably aren’t sweating too much. So today let’s talk about how we hedge and diversify our exposure to a turbulent market.

Strategies discussed in this episode include using:

- cash positions

- international investments

- gold and bitcoin

To share feedback or ask Ben a question, email him at ben@calm.cash

50% of your spending plan will go towards your Needs...the basic necessities to keep yourself and your family safe and healthy.  Those basic necessities include things like housing, utilities, reliable transportation, food, healthcare and making our minimum debt payments.  We are going to spend money on these things, but it doesn’t mean we should spend wildly or not find ways to save a buck or two where it makes sense. These small wins can add up quick and be used to fund other parts of our spending plan like our Wants or Savings buckets.

Today we will talk about 20 ways to save on your basic necessities.

There aren’t too many words that I hate because it is kind of weird to hate a word. But I hate the word budget. For most people they hear that word and just shut down. I know that is the way I feel when I hear it. It just sounds boring and complicated and about the last thing I want to do with any minute of free time I get. Maybe that is why only about 1 out of every 3 Americans actively keep a budget.

I think I have a better term. We all spend money, some of us more than others, and I think it is a good idea to have a plan for that spending. So when people ask me about budgets, I tell them I don’t have one but I do have a spending plan. Plans change. Plans get updated when life throws you curveballs. In my own life, my spending is so much different today than it was in early March. I bet yours is too.

The world is different and so is how we spend our money so it seems like a good time to go back to basics on a simple methodology to help you set your spending plan. It is called 50/30/20.

The 50/30/20 plan divides our take-home pay after taxes (so this is the amount of money on your paycheck) and divides it into 3 categories or buckets of spending. Needs, Wants and Savings. The numbers 50/30/20 represent the percent of our take-home pay that we allocate to each of the categories. So 50% of the money in our spending plan should be allocated to Needs, 30% to Wants and 20% to Savings which also includes extra debt payments on credit cards or student loans. Let’s take a closer look at each category.

Needs are the essential items to keep ourselves and our families safe and healthy and it represents where most of our money will go.  These are our basic necessities. Food on our tables, a roof over our heads, healthcare, utilities like power and water and I also include basic internet here as well because in 2020 this is a need. The Needs bucket also includes access to reliable transportation, required insurance for your car, apartment or home and any minimum debt payments.

Now let’s talk about the Wants bucket where 30% of your take-home pay is the target for your spending plan. These are the nice-to-have’s in our life. This spend isn’t necessary but it brings our life some joy and is usually indicative of our interests and passions. So things that fall into this bucket are meals from restaurants, our gym memberships, splurges on clothing, accessories and technology like a new iPhone and your subscription services just to name a few.

The last bucket of spending, our 20% category, is all about Savings, investments and debt repayments over and above the minimums. This category is where our emergency savings or rainy day fund money would fall in our spending plan as well as contributions to your retirement savings like a 401k or IRA and money you put into stocks or cryptocurrencies either through a brokerage account like E-Trade or Robinhood. You may have a money goal of paying down your student loan or a credit card, which are great goals by the way, and this bucket of your spending plan is where you would allocate those payments against the principle balance to wipe out those debts faster than just paying the minimums.

To set expectations, your spending probably isn’t going to match when you first do this but it gives you a starting point and will help you make financial decisions over time about where to spend a little less and where to allocate a little more.  My recommendation is to give it a shot, take the time and see where you land. I think you will find it helpful.

Kicking off a multi-week discussion about investing in a market impacted by COVID.  Topics discussed include: 

- how much money to have in your emergency fund before investing 

- understanding your tolerance for risk 

- different types of investments and the definition of each (stocks, bonds, mutual funds, ETFs) 

- risk spectrum on the investment vehicles

 - understanding time horizon and how important it is to help us balance risks 

- assessing your own money goals for risk and time horizon