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The Prosperity Podcast

505 EpisodesProduced by Kim D. H. Butler and Spencer ShawWebsite

Take control of your money. Join Kim D. H. Butler, best-selling financial author, and Spencer Shaw, as they use their prosperity mindset to utilize wealth-building tactics. Learn about the 7 Principles of Prosperity and how to make your money work as hard as you do.The Prosperity Podcast is the pers… read more

14:01

3 Mistakes Around Financial Miscalculations - Episode 143

Summary:

In this episode Kim Butler and No B.S. Money Guy Todd Strobel sit down and talk about another financial myth that even affects some financial advisors. Kim and Todd share the 3 mistakes people make around the calculations of finances.

Tune in to find out how to take control of your finances today. Do you have a question you would like answered on the show? Please send it to us at hello@partners4prosperity.com and we may answer it in an upcoming episode.

   

Links in this Episode:

Grab your free ebook Busting the Interest Rate Lies for more details

Submit your questions hello@partners4prosperity.com

 

Show Notes:

00:00 Introduction

00:30 Today’s topic is addressing the Financial Myth - Finding Miscalculations

02:09 The 3 mistakes people make around the calculations of finances

02:34 Mistake #1 - Trying to Make Financial Calculations with a Traditional Calculator

03:39 Look for additional calculator functions that provide future value, present value, time, rate and payment

07:17  Mistake #2 - Time Value of Money

07:42 Anytime you have dollars doing anything greater than one day's work you have a time value issue

09:14 Time value of money is essentially applying an interest rate to your calculation

10:43 For more information on how this works look at the ebook: Busting the Interest Rate Lies

10:51 Mistake #3 - Misunderstanding and Misstating Timeframes

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