So Money with Farnoosh Torabi

My guest today is one of the MOST interesting people under the age of 30 that I’ve ever met. Let me just share his brief bio for you in his words… “In June 2013, I was $726,000 in debt due to a failed business venture. For many people, that may have signaled the end of their entrepreneurial passions. But desperation has this funny way of unlocking creativity. The only way to get out of this mess was to find something that worked and leverage the hell out of it. So that’s what I did and three years later, not only have I paid off all the debt. I’ve generated multiple millions in revenue. I use my 12 years of experience in entrepreneurship and online marketing to help other entrepreneurs grow their businesses.” Fascinating right? During our interview we learn how he got into that massive amount of debt in the first place. And how does a 26 year old have 12 years of entrepreneurial experience? For more information visit www.somoneypodcast.com.Learn more about Farnoosh's upcoming literary workshop Book to Brand. Early bird registration is now open! Hosted on Acast. See acast.com/privacy for more information.

My S.O. is a spender and I'm a saver (I'm also the breadwinner)... how do we align our values? What's your number 1 tip for successfully managing business finances? Is there an argument for why renting is NOT a waste of money?Answering your questions with Hilary Hendershott, a financial advisor, podcast host of Profit Boss Radio and former So Money guest.To leave a question for an upcoming Friday episode of Ask Farnoosh, head to somoneypodcast.com and click on "Ask Farnoosh" in the righthand corner.Learn more about Farnoosh's upcoming literary workshop Book to Brand. Early bird registration is now open! Hosted on Acast. See acast.com/privacy for more information.

Ten years ago kids when our guest Ana Homayoun would ask her students for their biggest distractions they’d list friends, sports and their pets. Now, the top distraction is the internet, Facebook, Snapchat, Instagram.As a parent how do we enforce healthy rules around the internet and social media for our kids? How do we, ourselves, leverage the internet to enhance productivity, as opposed to just turning it into one big distraction? Ana Homayoun knows all. She is the author of the very new book Social Media Wellness and comes to this discussion with over fifteen years of experience working with students, educators and administrators. Ana is also the founder Green Ivy Education Consulting, a firm that specializes in promoting time management and wellness issues in the classroom and school communities.For more information visit www.somoneypodcast.com.Learn more about Farnoosh's upcoming literary workshop Book to Brand. Early bird registration is now open! Hosted on Acast. See acast.com/privacy for more information.

Today's guest became a millionaire in just five years and all by the age of 30. Grant Sabatier is the founder of Millennial Money and he’ll be sharing how he went from having just two dollars in his pocket to crossing the million-dollar threshold.Indeed, it was a fateful day at Chipotle in his early 20s when he experienced his financial wake-up call. All Grant wanted to buy was a burrito. But he couldn’t. He checked his bank balance and realized he had just $2.26 to his name. A recent, unemployed college grad living at home like so many Millennials, Grant decided it was time to grow up, make a living and take a stab at this whole adulting thing.You’ll have to listen to the episode to learn the rest!For more information visit www.somoneypodcast.com.Learn more about Farnoosh's upcoming literary workshop Book to Brand. Early bird registration is now open! Hosted on Acast. See acast.com/privacy for more information.

In this week’s episode of Ask Farnoosh, special guest Sophia Bera and I answer your biggest questions about financial advice for single women, trust funds and beneficiaries, investing in target date funds and more.Sophia Bera is the founder of GenY Planning and was featured on So Moneypreviously. If you’d like to learn more about Sophia, visit her website genyplanning.com or follow her on Twitter @sophiabera. You can also sign up for her newsletter here or enroll in the waitlist for her Millennials and Money class here.For more information visit www.somoneypodcast.com.Learn more about Farnoosh's upcoming literary workshop Book to Brand. Early bird registration is now open! Hosted on Acast. See acast.com/privacy for more information.

Today’s interview is an experience I will never forget. I’m actually surprised that it took me this long to bring my parents onto the show. They have been one of my biggest supporters since day one but particularly with this podcast. They knew how much it meant to me. They listen every day and give me feedback. They’re my biggest fans.We talk about it on the show so often that who we are as people, especially when it comes to our values, perspectives and emotions around money, stem from childhood and often how our parents communicated over money and interacted with money. I talk about all of that with Adam and Sheila Torabi. In Farsi or in Persian, they’re known as [Farrokh] and [Sheida], but they changed their names. I finally get to the bottom of this in our official podcast interview today and it was a blast going all “Barbara Walters” on them. I didn’t let them off the hook.I asked them why they fought about money when I was a kid because that’s the sort of stuff that really sticks with you for life, right? I was a little scared to ask that question because I’m sure it brings up as many emotions for them, as it does for me. But I really wanted to know. And more importantly, how did they reconcile those differences? And of course, we’ll talk about their immigration and the importance of education. My dad just got laid off, believe it or not, at 62. How’s he dealing with that? All that and more plus my mom’s number one tip for a lasting marriage. My parents are celebrating their 38th anniversary this August.For more information visit www.somoneypodcast.com.Learn more about Farnoosh's upcoming literary workshop Book to Brand. Early bird registration is now open! Hosted on Acast. See acast.com/privacy for more information.

Today’s guest is one of my favorite authors on the planet. He’s provided me with so much invaluable insight throughout the years, as I’ve been working in the field of personal finances. Dan Ariely is our special guest. He is the author of several New York Times bestsellers including Predictably Irrational, The Upside of Irrationalityand The Honest Truth About Dishonesty.I actually tapped Dan for his expertise just recently for my Oprah column about ways to combat money myths and save better.  Dan and I were two of the keynote speakers at the Northern California Financial Planners Association gathering. Such an honor to be in his company.A little more about Dan: He is a founding member of the Center for Advanced Hindsight and a Chief Behavioral Economist with a new savings app, Qapital. He’s a multiple-time TED talker, whose speeches have been viewed millions of times. He is the James B. Duke Professor of Psychology and Behavioral Economics.For more information visit www.somoneypodcast.com.Learn more about Farnoosh's upcoming literary workshop Book to Brand. Early bird registration is now open! Hosted on Acast. See acast.com/privacy for more information.

Should I keep multiple 529 plans with the same provider? Is it best to keep joint or separate investment accounts with your spouse? Answering these questions of yours and ore with special guest Brittney Castro, Founder and CEO of Financially Wise Women.Brittney joined me on So Money before. To catch her interview, click here.  And if you’d like to keep up with Brittney, follow her on Twitter @BrittneyCastro.For more information or to leave your own question for an upcoming Ask Farnoosh episode visit www.somoneypodcast.com.Learn more about Farnoosh's upcoming literary workshop Book to Brand. Early bird registration is now open! Hosted on Acast. See acast.com/privacy for more information.

Fasten your seatbelt, today’s guest is about to take us on a superhighway fast lane to success, as she shares her rise to mogul status in the health and fitness world. You know her well:  Jillian Michaels, the foremost fitness expert in the world and a renowned life coach is our SO MONEY guest today.Jillian has built an international fitness community on countless platforms from her popular fitness DVDs and exercise streaming platform, fitfusion.com, to her 8 New York Times best-selling books, to her award-winning podcast The Jillian Michaels Show.And she’s not slowing down. Jillian recently released her own iPhone app which allows users to train with her with pre-set workouts. Jillian’s company Empowered Media, which she launched with business partner Giancarlo Chersich, has fast become a monumental wellness empire that’s dedicated to provide people with accessible and affordable solutions for all of their wellness needs.In the interview we discuss how Jillian’s not super conventional when it comes to executing her vision for the business. Hear how she strategizes her next steps. She also shares the worst money mistakes she made when she first encountered a great deal of wealth in her early 30s and how she’s making up for it today. Plus, the $8 million deal she says she would have NEVER done.For more information visit www.somoneypodcast.com.Learn more about Farnoosh's upcoming literary workshop Book to Brand. Early bird registration is now open! Hosted on Acast. See acast.com/privacy for more information.

Ladies and gentleman, this episode will forever be an absolute dream come true for me. The day that we had the Emmy Award-winning co-host of Lifetime’s mega-hit show Project Runway Tim Gunn.Tim is fashion royalty and he’s had a long lasting career as a mentor and educator with roles like  Chair of the Department of Fashion Design at Parsons School of Design, Fashion Dean at Fifth & Pacific and Chief Creative Director at Liz Claiborne Inc. He’s also a New York Times best-selling author.Takeaways from our time together:How Tim didn’t get paid when Project Runway first launched (season 1 AND 2). Nada. Zilch.His So Money moment after years of living paycheck to paycheck as a “pauper educator,” he describes.Receiving a $50,000 inheritance in the 1990s and how he used it strategically.Fun Fact: Tim and I actually used to live in the same apartment building together (though I was always too shy to say Hello. I blame my yoga pants.)For more information visit www.somoneypodcast.com.Learn more about Farnoosh's upcoming literary workshop Book to Brand. Early bird registration is now open! Hosted on Acast. See acast.com/privacy for more information.