3 Mistakes Around Financial Miscalculations - Episode 143

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

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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