We would like to start this week by apologizing for some technical difficulties. Michael Dinich is our guest this week – he is the founder of Your Money Geek, a fantastic personal finance blog that aims to make personal finance fun. Michael lives in Pennsylvania and for out-of-town interviews, we use Skype to connect. This week our Skype recording did not work for the beginning and the quality from there on out is less that great.
With that said, the material in the podcast is great and Michael was a great guest, so we did our best to create a good listening experience and we thank you for understanding!
We lost Michael’s introduction, so we would like to use this as an opportunity to share who Michael Dinich is. As stated previously, Michael is the founder of Your Money Geek. His articles range from methods to buying t-shirts at wholesale prices to interviews with influencers such as Perez Hilton.
Your Money Geek launched a little under one year ago in what Michael describes as a bit of an accident. The company he was with at the time reached out to him to create a blog as a new marketing effort.
“[The blog posts] really didn’t excite me; the information wasn’t that fun.”
Michael decided to try his hand at creating his own personal finance blog. He gained no traction from that first post, so Michael began studying blogging and really dug into what he wanted his blog to be about. He decided on a personal finance blog for the people who think personal finance is boring, or maybe those who struggle paying their bills and struggle with understanding finances. Michael finds the best success in connecting with readers through analogies of tv characters, book characters, etc. He finds that it’s easier for people to see and own up to their own financial faults when they can relate to others who share those qualities.
Michael wanted to people take that first step into the world of personal finance. From there, Your Money Geek was born, and now Michael has over 22,000 followers on Twitter.
This week Zak picked Michael’s brain about the habits he sees in financially independent individuals.
Michael's compassionate approach to finances [2:56]
- “It’s OK to pay off debt a little slower if you’re more likely to stick with it.” [4:06]
How do you increase your income/cash flow? [6:23]
What side hustles work the best? [11:58]
“Is there a better way to introduce the concept of having your money work for you and being able to do the things you want other than calling it personal finance?” [20:38]
What’s the mission of Your Money Geek? [22:59]
- 5 Paths to Financial Success [23:51]
What are some character traits of millionaires? [25:05]
How do influencers and celebrities increase productivity? [28:47]
“People are preoccupied with tactics and they need to be preoccupied with principles.” [30:25]
What if books were priced at the value they add in your life? [32:46]
Bouck’s Rule [33:41]
“Business leaders who read one [business] book per year make something like 30% more income than those who don’t.” [34:40]
What’s the book Michael most recommends? [38:05]
- Thrawn (Star Wars: Thrawn #1)
We would like to thank Michael Dinich again for joining us this week on Mind of a Millionaire. If you want to know more about Michael, you can find him on Twitter or at his blog: Your Money Geek. If you head to Michael’s blog, you can check out Bouck’s Rule, a post submitted by Zak with some great lifestyle advice.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
No strategy assures success or protects against loss.
Michael Dinich and Your Money Geek are not affiliated with LPL Financial and Denver Wealth Management.
This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.
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