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Why Internships are so Important to Landing Your First Job


I’m currently working in digital marketing in my second job out of college.


My first job out of college, I got for one, main reason; I had a digital marketing internship in my senior year of college.


I know this, because my last boss, also the hiring manager, told me. He told me it came down to me and a few others, but because I had a good internship related to the job, he chose me.


Getting good grades in college is a good start. But employers are really looking for skills. Skills that will make them money or otherwise fulfill a need in the company.


Ultimately, they don’t want to take chance.. They want to know what they’re getting when they hire you.


Internships tell them that you have real-world experience with a real company and that you can perform in the position you’re applying for.


So, get on LinkedIn, get a few internships while you’re in college and land your first job when you get out of college.

3 Reasons I Love Community College


I graduated from a 4-year university a few years ago after transferring from Community College.


I love Community College for a few reasons.

  1. The tuition is cheap.
    • I was actually paid to go to Community College as financial aid more than covered tuition and books.
  2. It’s relatively easy.
    • This allows you to get good grades and makes it easy to transfer to a really good school because your GPA is high.
  3. The money saved instead of going to a 4-year university for all four years is a lot.
    • The University I went to costs about $50K+ a year just for tuition. Living in Los Angeles is easily an extra $10K-20K depending on how frugal you are.
    • I was lucky enough to get a lot of my tuition paid for by the university and FAFSA, but I still would’ve spent another $40K if I hadn’t gone to Community College.

3 Stats You Need to Track Each Month to Get Rich | 1 Minute Money Talk


Getting rich is not that complicated. It’s not easy, but it’s pretty simple really.


I’ve talked about this in the past, but spend less than you earn, invest the difference and avoid debt and you will be set.


So while you’re doing those things, you need to be tracking these 3 stats: income, expenses, and net worth.


By tracking your income and expenses you will be aware how much surplus you have to invest. If you are a W-2 employee with a salary your income might not change much, so focus your energy on lowering your expenses and maybe creating a side hustle.


By spending less than you earn, and investing the difference, you should now watch your net worth grow each month (unless the stock market is down). By watching these 3 stats, you undoubtedly will improve them and gain even more motivation as you see improvement.

How to Make Millions Investing the Money You Play Powerball With | 1 Minute Money Talk


A lot of us like to play the Lottery, especially when the pot gets really big. There are also people who play it every week, very consistently. I get it, it’s fun, even when we know the odds of winning are next to nothing.

So, instead of spending our money on Powerball, Mega Millions, Scratchers and other Lotteries, I want to show you how we can use that money to become wealthy.


Let’s look a Tom. Tom is 25 years old and plays Powerball and Mega Millions each week.

Both of these Lotteries have two drawings each and a ticket is $2 each. Let’s say Tom spends $20 a week for Lottery tickets.

Now, if Tom took that $20 each week, or $1,040 a year and invested it in VTSAX, Vangaud’s Total Stock Market Fund, and let’s assume he averages an 8% return through the years, at 65 years old, Tom will have about $270K.

Of course, $270K isn’t rich, but it’s at least a good start and that’s only from $20 a week. If Tom could invest $100 a week, he’d have $1.3M at age 65.

The First Three Steps to Financial Independence | 1 Minute Money Talk


Financial independence is when your wealth is sufficient enough to live on without needing an income from a job.


To achieve this state, there are three steps you must take to even begin this journey. So these are the prerequisites.


Step #1: Have $1,000 cash as an emergency fund.
  • This is our basic emergency fund to have until we pay off all credit card and high interest debt.


Step #2: Pay off all credit card and high interest debt.
  • If you have credit card debt, you need to drop everything and treat this as an emergency.


Step #3: Build an emergency fund of 3-6 months of expenses.
  • Then, after paying off all the credit card, you should build up your emergency fund from $1K to 3-6 months of expenses.
  • So, figure out how much you typically spend in a month and then save 3-6 months of that number.


These are the basic steps to even get started. There are additional steps that you must take if you’re really serious about achieving financial independence.

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How Much Money Should I Have Saved By 30 | 1 Minute Money Talk


Obviously, this number is different for everyone. If you want to retire by 40, your number is going to be different from someone who wants to retire at 60.


However, there are some big financial companies out there that have done studies on this. One says you should have 1 times your annual salary while the other says 0.5 times your annual salary by 30.


A study from 2017, says the average American salary for 25-34 year olds is $40,300. At thirty, you should try to have either $20K or $40K saved.


But, I think this is low. If you’re watching this video, then you probably care about your financial situation more than the average.


I would shoot for 3+ times your annual salary. And so if you’re making $40K, strive to have more than $120K saved at 30 years old.

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Two Ways to Pay Off Debt | 1 Minute Money Talk


Whether it’s student loans, credit card debt, car loans or any other type of debt, you should aggressively pay off your debt.


There are two main ways to go about paying off your debt.


  1. Pay off accounts that have the highest interest rate first.
  2. Pay off accounts that have the lowest balance first.


The first method is more practical because you will pay a lower amount of interest because you’re paying off debt with higher interest rates first.


However, the second method has more of a psychological effect as you are likely to be more motivated as you pay off your smaller accounts first.


I really like both methods and you can’t go wrong, it’s really up to personal preference and whether you’re motivated by seeing smaller accounts being fully paid off or more motivated by paying the least amount of interest total.

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How to Save $1000+ a Month | 1 min money talk


American households spend an average of about $60K a year according to the 2017 study by the Bureau of Labor Statistics.


There are three things that Americans spend most of their money on.


  • Housing – $19,884 (33%)
  • Transportation – $9,576 (16%)
  • Food – $7,729 (11%)


Focus on reducing the big three expenses instead of minimizing your avocado toast or morning coffee.


In the past couple years, I’ve gone from $1,700 a month in housing to $1,350. I got out of my brand new leased car which was about $500 for car payment, insurance and gas to a 2006 used car for $5K cash and bike to work everyday. I also lowered food costs from $500+ to about $250 a month.


Through these changes I’ve been able to save about $1,000 a month.

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How Much Should I Contribute to My 401K? | 1 min money talk

What is a 401K?

Your 401K is a employer sponsored tax-advantaged account where you can invest money from your paycheck before the government has taken taxes out of it.


Why Should I Invest With a 401K?

Investing in a 401K is a good idea because the money gets to grow with money that would have otherwise been given to the government. Your 401K contributions also lower your taxable income, so for example if you make $50K a year but invest $5K in your 401K, you’re only taxed as making $45K a year.


How Much Should I Be Contributing to My 401K?

Basic wisdom says you should at least contribute enough to receive your employer match, as this is free money. So if your employer matches up to 5%, then you should at least contribute 5%.


Beyond that, you should try to increase it as much as possible until you reach the max contribution amount, which is $18,500 a year as of 2018.


That said, start with baby steps. So try to start with 5%, then each 3 or 6 months raise it a percentage. Ideally, after a few years, you’ll be at 10-20% and then a few years later you’ll be maxing it out.

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How to Become Wealthy | 1 min money talk

Becoming wealthy comes down to three things:

  1. Make more money
  2. Spend less money
  3. Invest the difference


Continually improve these three steps and you will become wealthy.


Step #1: Make more money

You need to get a raise at work, find a new job, take on a second job, start a business or side hustle. Get your hands on more money. You won’t get rich making minimum wage even if you crush the next two steps.


Step #2: Spend less money

If you become an income-machine but spend it all, you will never get rich. You have to not only make more money, but keep it so you can invest it. Eat ramen and beans for all I care, just don’t blow all your earnings.


Step #3: Invest the difference

Becoming wealthy is all about widening the gap between how much money you make and save, but then investing that extra money. You need to invest it and make a return on your money. This can be in the stock market, real estate, your business. Investing is about owning an asset that grows in value over time.


These are the three steps and they all work together. You have to improve all three if you want to become wealthy.

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