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Today’s episode features Michael on Cody Loughlin’s show “Money Talkers,” where Michael and Cody discuss the concept of Money Dials. We discuss:
- The concept of what a “money dial” is - it comes from Ramit Sethi, which he frames as “Where do you like to spend your money and be ok with it?” For some it may be trips, others it may be clothes, some like nice cars, and some like treating themselves to a spa day.
- Michael goes a step further and says, “How can you use your money dial to help generate more value for you and those around you?”
- Although we all have an affinity and level of comfort with spending more money in some areas of our lives than others, be cognizant of your spending in your money dial areas. You’re generally ok with spending more money in these one or two areas of your life, but that doesn’t give you permission to abuse it.
- It’s so important we’ll mention it again, like how the 5 Ds of Dodgeball tell you to “Dodge” twice: Reflect on what your respective money dials are, and certainly enjoy them, but ALSO learn how to master them and use them to your favor, not abuse them for gluttony and greed.
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