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Jeremy Edmonds, Cable-Cutting for Streaming Services

This episode actually takes place at FinCon. If you're learning about FinCon, it is the place where money and media meet. I got to meet a lot of experts in the personal finance world. How to invest your money, how to save your money, how to budget your money, how to be frugal, how to coupon and investing. FinCon is this hodgepodge of everyone talking about money. It's an interesting conference. I met very key people along the way.
I wanted to share this particular one because I know it's a hot topic. This is for my budget-conscious friends at the WealthFit nation that are a part of it. We talk about cord-cutting, not umbilical cord cutting, but we're talking about cable cutting.

Somebody might say, "Why should I invest my time into doing that?" The reason why is there are so many options coming out. If you're not mindful of all the different streaming services, you can actually end up spending a lot of money with all these new add-ons. I'm not sure if you've taken a moment to check out all the subscriptions that you have when it comes to streaming services. If you're mindful of your bill, your cable bill being extremely expensive and you think it's gone crazy, there are options for you.

As you know at WealthFit, we're all about expanding our means, thinking entrepreneurial and picking up side hustles or microbusinesses as we like to call them. At the same time, you want to take a look and see if the ship is slowly sinking. Anything that you can do to live within your means and to take back control is something worth investigating.

Jeremy has this amazing story. He’s completely debt-free. He and his wife and his whole family recognize that they were in a lot of debt. They didn't have any savings whatsoever. Within a year's time, they were able to save, structure and be mindful of the things that were causing stress in their life. They were able to get debt-free but not only that, they established a six-month emergency fund in that short while. He became so passionate about being debt-free and showing other people how they can do it. You don't have to wait forever to do it. There are some things that you can do that he actually coaches people.

This was new to me because we've got financial planners. I'm sure you've probably heard of financial planners. I had never heard of this concept of a financial coach. What was interesting and fascinating about this is financial planners are typically paid off of fees. Jeremy has paid a fee but that's on the upfront and it's never in proportion to the amount of money a financial planner has under management. I thought maybe this interview would go a little weird and he would be an anti-financial planner, but he actually advocates it.

You've got to hear why you want to add a few people to your team if you want to create wealth in your life. We talk about that. We talk about cable-cutting. What are all the services out there, some little hacks that you can do? If you're interested in this topic, I want you to pay extra close attention as we dive in.

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Dustin
I'm here with Jeremy Edmonds and he is a financial coach that helps people with budgeting and with taking control of their financial future. I'm excited about this idea of cable-cutting. It's a hot topic, but I want it to be more than that conversation. How do we be better managing our money? How do we take away the emotion? Thanks, Jeremy, for being here.
Jeremy
Thanks for having me, Dustin.
Dustin
Will you give a little background because to me this idea of a financial coach was something new to me entering this personal finance world? Obviously, we know what financial planners. Will you break that down a little bit for us?
Jeremy
There are many different analogies I could use, but a very common one is to think of it as a personal trainer for your money. You go to someone to get fit financially like you would go to fit physically from someone. They're going to hold you accountable. They're going to give you the step by step process to get the traction you want that are based on your particular goals. There's no cookie-cutter process. There are principles like there are exercises that work for everybody. It's about talking through what your particular goals are and maybe even helping develop those goals. You don't know what your goals should be and we develop that, helping you incorporate that into your daily life so that you're not later looking for the money to accomplish your goals. It's part of your everyday existence. That's the whole reason behind the discipline in the first place. Nobody wants to be a good little boy with money or a girl with money because that's fun. It's got to be an ultimate larger purpose that they're going after.
Dustin
Why not go to my financial planner to help coach me or to give me goal setting? Why go see a coach? Do you advocate actually one over the other or together?
Jeremy
I believe that every person needs key people on their team. Some of those players in the team are going to be on the bench at times. Some of them are going to be on the court with them. The financial planner advisory role is different than a coach, but there's not one better than the other. In fact, a lot of financial coaches’ clients are great setups for financial advisers and planners to have them be getting better clients as a referral from coaches. If you imagine your finances like a house, you've got three main parts of the house. You've got the roof, you've got the walls and you've got the foundation. If you don't have a solid foundation, you can build the walls all you want but it's going to crumble. That's why we see people checking the box at work and investing in their 401(k) and then later taking a 401(k) loan because they're lacking the financial foundation of personal finances. It’s because we're not teaching in schools anymore. Maybe we're learning it from family members, maybe not.
There are probably some toxic things mixed in there as well that we're learning. The general populace was lacking that education. A coach is someone that's unbiased, that's objective, that can hold them accountable and that doesn't sell financial products. Whereas a financial planner adviser does, and that's a valid role. 80% of what they're making is from the sales of this financial products. They're not getting deep into the weeds of something that's not investing usually. Maybe they’re getting into some protection and assets. The way I like to describe it is a financial planner adviser, they're focused on growing your assets and financial coaches focus on helping you get up off your assets.
Dustin
I'm very curious, you've got clients that you work with. What are some of the challenges or obstacles that you coach them through?
Jeremy
As a financial coach, you focus on everything specific investing advice. One of the most common things is debt, budgeting, saving because that's where the nation is at. 78% of people live paycheck to paycheck usually because of those issues. Those are common things, but it covers everything from how do I communicate better with my spouse about money? How do I teach my kids about money? Those are the top two concerns of six-figure income earners. How do I know if I'm ready to buy a house? How much house can I afford? It’s not what the mortgage broker's telling me, which is by the way, usually more than you can actually afford. They're using different metrics for that. There are a lot of different topics and personal finances because it's personal. It's not about the numbers, a lot of it is behavior and mindset. In fact, the majority of it is.
It's getting into that and getting behind the numbers and getting into the why, which doesn't correlate their goals and what they're trying to accomplish. Also the reasons why they believe the way they do. Maybe the way they learn about money and some of the questions I go through the clients is, “What did your parents teach you about money?” Most of it is caught, not taught. They're going, "We were always poor and hand to mouth. I don't want my kids to be that way. Whatever they want, they're going to get it." They swing to the other side of the spectrum. It's not even saying that that's necessarily the wrong thing. It's about identifying why they feel that's the right thing and helping them align that with wise financial principles that are going to keep them healthy long-term. Not get them out of their present situation, whatever that pain point may be.
Dustin
I want to take a step back because we jumped right down. I'm so eager to get to the tactical. I want people to fall in love with you and understand. What's your origin story? How did you get into this financial arena? More specifically, how did you get into saying, "I'm going to be a financial coach and I'm going to mentor and help people along the way?
Jeremy
As far as how I got into being a financial coach, I was living in the regular 9 to 5 day job and I was stuck. I'm like, "This is terrible. Why am I here?" When the recession hit in 2008, it was also the same year that I was learning these financial principles and putting them into practice in my own life. 2008 was a breakthrough year for me. That was when I became debt-free. I've been debt free for ten years. I had a lot more conversations that year and the following year, but I had been having other conversations here and there leading up to that point about personal finance. I've always been good with numbers and a disciplined person because if there was one thing my parents taught me, it was you pay your bills on time, but that's about it.
I was good at being a slave to payments but that's about it. I had that regular discipline. I already trying to get traction on it, but I didn't have any of the principals I do. I wasn't making any forward progress. I was living day-to-day. I learned those principles in 2000 and 2009. I started to reflect in the midst of the recession going, "I'm not going anywhere. I'm stuck in the mud because nobody's going into financially in this middle of this recession. There are no raises, none of that stuff. I’ve got to do something different.” I had been knowing that for a while, but this is the kick in the butt. I started to reflect on where's my passion been and where I have been excited. It was these conversations with people about these issues and seeing the traction that I had experienced, sharing it with them and seeing them get the same traction. In 2010, I decided to take some action on it. I started working with some existing classes to see if I could help some people that weren't my friends and see if they liked me too. I had such a blast with that I said, "This is what I'm supposed to be doing." That's when I launched into doing coaching as a business.
Dustin
At WealthFit, we're big on entrepreneurship. You made that leap to start a business. It's funny because we're talking personal finance and I want to cover entrepreneurship. Walk me through what it was like to get that first paying client.
Jeremy
To be honest with you, it took six months to get a first paying client. I have no business background. No one ever taught me how to do business. I don't have businesses in my family history. I didn't go to school for business. I had to figure out how to do business. That day job that I mentioned, I still was at that day job when I started a business for two and a half years until I wasn't there anymore. During those two and a half years in that corporate environment, I had a 30-minute lunch and a ten-minute afternoon and a morning break, fifteen minutes of breaks and I would not eat during that time or take a break. I would go over to the stairwell and pick up the Wi-Fi two floors down, sitting on the stairs. I follow up with leads. I make appointments for the evening. I'd eat while I work, not during my break. That's the short-term hustle. That's how I built the business to start.
Dustin
I remember my first client, my first sale. Walk us through it. I want to invest some time here because it's scary at first asking people for money, especially if you don't come from a business background and you're not in sales. It's a new thing to learn. When that person said yes to your fee and, "I'll be your client," what was going through your head?
Jeremy
What was partially going through my head was, "This is going to be a tough client." It was a tough client. They actually didn't get past the second session. There are a lot of other issues going on in life and they definitely need help in that area. They weren't on the same page as a couple. I didn't have enough skill at that point to get them on the same page very well because I was new. It was a good client and they got some traction and I was trying to think of, "This is going to take a while." It's going to be a lot of work. It didn't continue to engage. Then I got the next client and they stick with it. You’ve got to where you're planted. Some people were going to be open and teachable, some people are not. We ask in the coaching world, we asked ourselves, is the client hot? Are they hungry, open and teachable? It doesn't matter what amount of money they make. It's more about that. It's more about their hunger and their motivation and their teachability. That's the main thing that was going through my head, “This is going to be a lot of work but there's promise, there's potential.”
Dustin
You have a client that comes to you and let's say they're married. Let's say for the sake of this conversation, they're both not where they need to be with the money conversation, with the money mindset essentially. You're working on one. What advice do you give that person to get their spouse involved? Does that spouse become a client? How does that work when someone's elevating their game and getting access to information from you, but the other person isn't? 
Jeremy
In my coaching practice, I have a policy that unless there is a divorce pending or there's abusive relationship, I only meet with both couples. I don't meet with one of the spouses. I had that policy before too when I started. It backfires because you don't have buy-in from both team members essentially. It may sound like a great idea, but even if we've got the other spouse who's not as interested and they're more compliant and they're like, "Whatever you say," there's still going to come to a point at some point where they're not going to agree. It's going to be a wrench in the works. If they are less compliant, they're definitely going to be fighting against it. If we don't have both spouses in the process, it doesn't mean that they're going to be having equal roles and doing all the same work. Some people may be more administrative and that's leveraging each other's strengths and weaknesses. If they're not on the same page and they're not in the same team willing to work on it together, it's going to backfire later. It's going to blow up. That's all going to be wasted time on my end there and their part too.
Dustin
Let's say they don't come to you and become a client, but what advice do you have for couples to have money conversations to further their financial well-being, but also have those tricky conversations, especially if you haven't dealt with money or had these conversations before? What's your advice for couples to create a great dialogue and start these money conversations?
Jeremy
It certainly depends on the state of the relationship. Some people are on the edge. One thing could push them over. Some people are not discussing it. They're not at odds. They're not communicating. One of the most common things I recommend usually in my first session is that they set a weekly meeting in their calendar with themselves. They set a financial date night, so to speak. Every hour at the same time and day, Tuesdays at 8:00 PM, we're going to sit down and talk finances. I tell them, "Give yourself an hour. If you don't use a whole hour, fine." It's better to have the time and not need it than to be running out of time and adding stress to the conversation. You don't want more stress in the conversation.
Getting them in the venue to have that conversation is key. Especially for the female in the relationship, usually they're wanting to talk and they're feeling stressed without having a venue to talk about it. Especially in those situations, they know there's going to be an organized opportunity to discuss that concern. That can also alleviate some of the stress of, "You're running out the door. It's going crazy. I got to tell you about this." They're busy working. It's not a good time and then they snap at the other person. When there's already a preset venue for that, they know, “I can make a note on this. I know it's going to get addressed. I know I have an opportunity to address,” versus, “I’ve got to pry and try to find time to do that." Creating that regularity of communication is key and sometimes you’ve got to schedule it.
Dustin
I like having that venue there because it does remove that stress, that extra to the conversation.
Jeremy
That's not to say that they're not going to get together and have the meeting and start arguing then. There are some tactics there in the meeting too, but you've got to have the meeting first before you can have any conversation.
Dustin
You talked to a lot of people about money and people are very interested in hacks and things that most people don't know about. What is your sound bite hacks around money? What are some things that most people don't know about that they can do to instantly save money? Let's start there.
Jeremy
To instantly save money, that one's a little tougher. A lot of people tend to do default to the automatic stuff, "Let me have it go straight out of my paycheck." Without the habits and the discipline in place, they eventually dip into that account that it went to, to begin with. It's more about paying attention. I heard a story. It was like they asked the most famous psychologist, "If you had one minute with someone and you were to never see them again, they’re walking out of your office and you only have one minute, what would you tell them to do to help them with their issue? Depression, anxiety or whatever it may be?" He said, "I would tell them to leave my office immediately, not even stay the whole minute. Go across the street and find someone else and help them. That's what I would tell them to do to help with their depression or anxiety." It was outward-focused. In the personal finance space, what I'd say is if I had that one minute, I tell them, "Start writing down everything you're spending at the moment you spend it.” Most folks in our busy culture, especially, are financial astronauts. They're floating out in space, untethered, no gravity disconnected from what's going on financially for the most part. They're aware of their bills, maybe most of them. There's more to life from an expense standpoint than bills.
Dustin
Are you big on these apps that automate and do it or are we doing old school writing it down on pen and paper? 
Jeremy
Those can provide a good system for getting streamlined and more advanced but when I start them off, I'd recommend whatever is more natural for them. Either write it down in a notebook or to write it down the notes app on their phone, not to use an app. I don't want them to over-complicate it because it's not about the specifics. It's about the awareness. The astronaut actually comes back to Earth, he has to go through physical therapy to learn how to walk again because of muscle atrophy. We've got our awareness muscle that's essentially atrophied. You need to pick up that one pound weight and slowly lift that to rebuild the muscle before you go to something larger. Some of the apps, even if they're more intuitive and simple, they're still not a one-pound weight. They’re a little bit more advanced. We want to get them aware of what's going on and then we can get more sophisticated.
Dustin
I went through this exercise. For me, I was hoping one day I'd have some big exit from the previous company that I had built and it didn't happen for me. I never paid attention to personal finance. Then I jumped in and I started going crazy looking at every expense. That helped although I was a little overboard. I got that awareness that you're talking about. What would have been your advice to me after that? After I have my awareness, "We're spending a lot here. I'm not saving as much as I should," what's that next step that someone can take once they've had some a-has or epiphanies after looking?
Jeremy
The best thing to do is to refocus and gain control of what your purpose is. What are your goals? Are you walking generality or do you have a purpose in life? What is that? Get specific on that. I'm a big fan of Michael Hyatt’s SMARTER framework. I like defining those things and getting them visualized as well. At least the first step is getting them specific, measurable, all of that stuff. Then you can say, "I want to get out of debt.” “You want to do it by when? How much is it going to take every month consistently to get you there at that time?” Then you can turn them into your everyday life. Then it's not, "Here are my expenses," because expenses reports don't change lives. They inform your decisions. You need to make proactive decisions. We can't see them visually but I essentially say, "Expense report stands here. It looks backward and goes, ‘Here's what happened.’ A budget stands here and it looks forward and says, ‘Here's what's going to happen.’”
You're making a conscious decision that may be informed by these past expenses, but there's not dictated by it. If you make a budget dictated by your expenses, even if it's not because of those things, but you are making a proactive for forward motion, it still might not include your goals. Before you start making that forward action plan, it's important to identify what you're going after because that's the equivalent of making a roadmap from here to San Francisco rather than jumping in the car and driving. You've got to have some roadmap. It doesn't mean that the route's not going to change it along the way. There is going to have to be an art to it, not a science to it. You’ve got to know your destination to begin with. I tell people that get clear and specific in what their goals are going to be. Break that down into their everyday expenses and costs. Otherwise, it's going to increase lifestyle as their income increases. There's never going to be that wealth gap, the margin between what they make and what they keep.
Dustin
I want to move into cord-cutting. As you made me aware of cord-cutting, we're not talking about cutting umbilical cords here. We're talking cable-cutting, which you've trained me on. There's this idea, there's this movement and this isn't necessarily new. There's this movement across the world or across the US about breaking away from cable, yet there's some fallacy to that. Will you break that down a little bit? What is this movement that's going on and how can we benefit from it?
Jeremy
There are a lot of details about it. Cable-cutting is definitely not new. In the past, it has been mostly reserved for those who are more highly technical. You can know how to hack the system to figure out the technical logical aspects of it. There's such a demand for it, the market has shifted. We see this in many different situations in the market. Uber's a perfect example, disruptors. The cable-cutting movement has been a disruptor in this cable TV market. A ton of people want to do that and the main reasons people are wanting to cut cable is because they're not watching everything they're paying for. Nielsen rating shows it's seventeen channels on average of the 100, 200 channels that they're paying for and they're tired of the cost. The cost is ridiculous. There are all these other little-hidden fees and they keep going up. It's a racket and they're tired of dealing with that.
That's the majority of white people are wanting to cut the cable. A lot of them are either intimidated because they don't understand the technology even as simple as it's become, or they've tried it in some way without a particular plan and then they get frustrated and go back. There are a lot of different reasons why they've tried and it doesn't work. The problem is that in the midst of all that, the market's gotten more and more and complicated and flooded with options. We understand the Bell Curve concept. We started going down that Bell Curve five, six years ago. We’ve hit the bottom of it and we've been coming up the other side since. Every day, there are new things.
Dustin
Give me some examples.
Jeremy
It could be a lot of different changes or it could be new options. The first four weeks after I launched the course, for example to give a timeframe, I saw twelve changes in the market. Some of them were price changes for existing services that went up. Some of them were networks that came with those services that changed and some of the brand-new services that didn't exist before. Some people who are more technologically adept might know about SiliconDust. It's a company that makes the HDHomeRun box, a cord-cutting fanatic thing for those who are more technological. That company decided, “We're going to have our own cable-cutting service.” They're popping up. They're only offering it to people who have that equipment. It's more niche at this point, but that type of stuff is flooding the market. I know that it's not out yet, but Fox is launching their own streaming service called Fox Nation. Disney's already announced that it's going to be some time that they have their own streaming service. This market has progressed like everything's a subscription.
The same thing is true when it comes to video-on-demand. Everybody's got a service out there and so there are a bajillion options out there. I forget the name off the top of my head of the research agency that did this. They've looked out and right now there are over 200 streaming options out there. It can add up really fast and you can get redundant and overlap. You might even not realize that. Let's say you have a more cable light option. That gives you a handful of networks as you're looking for, but you still want that one or two other and so people would get this other thing that gets those two. Then they're in a cable situation where they don't need all those other ones. Where they could have also gotten that one or two networks potentially through something else that's just that. They didn't know that that option was out there. There are many ways to skin the cat to get the content you're looking for. It's very confusing out in the market. That's what the course is focused on, trying to keep it simple and step by step for folks.
Dustin
I want you to get into some of the players. Let's say I subscribe to this. I love this. I'm paying $300 for cable TV and internet. It's crazy and I've had enough. I'm fed up. Who do I turn to? Where do I go? What are the main players that you see? 
Jeremy
In step three of the seven steps of the course, I go over all the options that are out there and it changes all the time. I go over all the main players. I break them into four categories. There are aggregators, which is what I call things that take other people's content and also their own original content and put it in one place like Netflix. Then there are network-specific ones like HBO Now where they have a network, but they've also got their own separate service like CBS All Access and Star. Then there's cable light and those are the things that are packages of networks for the regular monthly amount. It varies as to what you get with each one. Sling is one of the most popular ones to that. TV Now is a very popular one and it's up and coming, so to speak. There are three other major ones, those are two of the major five and there are four others that are up and coming, the rising stars ones.
I break that down into two sections, one of the major players, one of the rising stars. That's not all of them. It was the nine things that are most promising. There are tons of those and then there are specialties, the fourth category, things that are very niche interests. If you like WWE, they got their own network. If you like anime, there's Crunchyroll. I cover twenty of them in the lesson and that's a drop in the bucket. There are tons of that content out there. That's why people get confused. The course walks them through the first step, identifying what you have that you're trying to replace. If you want apples to apples, try the best you can make a lateral move and cut the fluff and the cost. You need to first identify what that is before you get into where you can find it. You get overwhelmed really fast.
Dustin
I want to get into an example. Give me a case study, somebody that you've worked with. How much money are we talking and savings here if we cut the cable?
Jeremy
The average I've seen is $100 a month.
Dustin
$1,200 a year?
Jeremy
Yes, that's what I've seen on average. Some people are maybe a little less. That's usually folks who are already on a promotion, but that promotions that you can end anyway. I had a client who finally cut the cord after talking about it for two months. We talked through the options and so on. They finally took the jump for them what the best fit was YouTube TV. They did it over the weekend. They texted me as client connection and I said, "It was easy, wasn't it?" He's like, "Yes." I'm like, "I told you so." It's so much easier than they expected. Their bill is $260 a month. One of the fallacies is the cable company tell them as well, "If you cut the cable, your internet cost is going to go up." I'm still going to save more money net big time. Their internet was going to cost them $90 a month in that market for that speed or whatever. That's a whole other issue with the speed you need. They've got that and they're paying $40 for YouTube. They went from $260 to $140 if they're still paying for rental and modems. You have $0.70 of sales tax on the rental because you're paying tax internet service plus $40 for YouTube. They're $140 max from $260.
Dustin
I want to talk without getting overly technical. What speed does one need? Let's say I like to stream a little TV or service I should say. I still want to enjoy that and I'm not some uploader of crazy files. I'm an everyday American and I want to watch some TV on the internet. What speed do I need?
Jeremy
This is not on the course, so it's a bonus content. It comes down to two factors. One, it comes down to your equipment. You can have a fast internet connection and the equipment that sucks and you're getting no good speed. You're not getting the ability to access that bandwidth. Then it also comes down to how many devices you have in a home. Most cable companies usually tell you more speed than you need. What I usually recommend folks to do is when they make the cable cut move, if they can also buy their own modem and router, I recommend buying them separately. If one dies, they don't have to replace both. A gateway would be a two-in-one.
If they're able to make at the same time that moves as well and put the money into modem routers, it’s better to buy their own than the one provided by the cable company because it's usually been reused and refurbished, and it's slow and clunky. Regardless, they’ve got to keep in mind that if they're not getting the speed that they want, they should look at the equipment potentially. I told them with the speed, start with the slowest and see how it performs. You can always bump up one step at a time. What's there to lose? I know that personally I have a 200 megabits per second connection at home, but I don't need that.
I'm on promotion because I moved recently, but I had before that a 30-megabit per second connection. I have an Apple TV, Roku TV, two laptops, three iPads and two iPhones all in that network. Every so often streaming regular HD, not 4K, we'd have a couple of buffering issues but that's it. We didn't have many problems. That was a 30-megabit per second connection. If you've got older kids and people sit around in separate rooms watching stuff all the time and you have four or five devices connecting at once, that might be a little bit more demand. That also could depend less than the speed and more in the bandwidth ability of the router, which gets super geeky.
Dustin
We appreciate here at WealthFit living within your means and doing things like this, especially if you're starting and you were saying, "How can we save money?" We're also big on expanding your means. That's why we like you starting your business and doing that. What are some of your favorite investment advice or things maybe that you share with people to help them expand their means?
Jeremy
When it comes to investments, as a financial coach, I don't give investment advice. That's a financial planner advisory role because you are getting into regulated advice obviously. I do educate them on the specifics of investments. For example, what is a 401(k)? What is an IRA? I can't tell you how many people think that the investment is the 401(k). The investments, the stock bonds, mutual, I still use analogies to describe that. You are the investment sitting in the car and the car is the investment account. I educate them on that aspect. If there's one thing I pass along is always interview the adviser that you're working with. Don't interview one or even two. You need to find someone that you're comfortable working with that you can trust, whether they're going to manage your funds or not because they're going to give you advice. Secondly, I would say never ever put money into something you don't understand. You don't have to be the expert on it. You don't have to be the mutual fund manager, but you need to make sure that you have a grasp on it. You're not like, "I trust whatever he says." That's how Bernard Madoff happens.
Dustin
You have no financial incentive in this particular case. What are the questions I should be asking? What are the top questions I should be asking of a financial planner? I love this concept of going and interviewing three four. I know that sounds like work, but this is the person that's going to be a steward of your money. This is a big decision. What are some of the things that I should be thinking or I should be asking this planner?
Jeremy
Obviously, one is how they get paid. There was a whole big deal about the law about that. That's a big issue, the fiduciary and so on. It's important to understand how they do get paid. I think another one is to understand what their philosophy on money is. What’s their approach to handling assets? What's their perspective on debt and different things like that? What’s their risk tolerance? How often do they like to meet with you? It’s not what they offer, but what they think is the best amount of time. Some advisers would be like, "Don't talk to me except every quarter or every year." That's fine. I don't think you should be looking at it more often than every quarter necessarily because you don't want to pay too close attention to that stuff. I'll leave that up to the adviser. The adviser, it depends. I find some advisers approach investment guidance like CPAs approach tax planning. If you don't tell me, you want to sit down and talk about it, we're going to review it at this set time.
On the tax side, that would get a lot of people in trouble is because they wait until tax time, "I owe a ton of money," because they're not keeping a finger on the pulse of it. In the investment world, you can’t keep too much of a pulse on it. I think another good question would be, "If I am upset or excited about something, how would you talk me down?" My emotions I know sometimes are going to want to get into that. The people who are usually the best investors are the ones who have a left-brain approach to it and they can balance it. They know how to discipline themselves and think and not react. When they see the market dip in 2008, they don't freak out and cash out. They know that after 9/11, the market came back up within 31 days. The media didn't report on that.
Dustin
That's a solid question right there. I think that that's important, unless you've been doing this a while and you have mastered the art of removing the emotion. When you see a big dip or something like that happen, that's a huge thing. Asking and being proactive about that, that's 100%. Don't make the mistake of thinking you don't get emotional. Things hit you in certain ways.
Jeremy
You’re a human and not a machine and that’s so key in every aspect of real life, but especially every aspect of finances, whether it be an investment or everyday money management. I always tell people when you say the word proactive, you need to be focused on being proactive, not being perfect. You've got to focus on how can I make a wise decision one step at a time? That's the tortoise and the hare principle right there. It’s just a steady, consistent plot on the next step and keep doing it over and over again.
Dustin
That's great advice too because in this age of social media and instant gratification, the ones I find winning are the ones that are very stoic, very boring and slow. Over time that compounds and that's a beautiful thing.
Jeremy
Be flashy with how you use the money, not how you grow the money.
Dustin
I want to ask, it's really easy for folks to look at you, "You've educated yourself, you've been doing this. You coach others to do it. He must be perfect with every decision." We're human. We love certain things and we have a passion for certain things. I'm very curious as to what your guilty pleasure is, your splurge. When you want to treat yourself or the thing that you're into, what is that guilty spending splurge?
Jeremy
It used to be a shiny object syndrome.
Dustin
What do you mean by that?
Jeremy
Tech and gadgets. It used to be the shiny object syndrome. I don't have one area. I think my personal vice so to speak is what I call variety vice. I'm the guy that would walk into the store and go, "There are four new potato chips. I must try all the ones that look interesting to me." I knew I needed to come to the conference with cough drops. I have five different bags of cough drops. I'm thinking in my brain I'm like, "It's a good networking tool. I'll offer a cough drop." I opened one bag and returned the other four. I'm not going to need them anymore. They all looked tasty. Sometimes that can get me. It’s wanting to try a lot of new things.
Dustin
Jeremy, I appreciate you being on the show and sharing your wisdom with us. I encourage people to go back and listen to the nuggets in there. You have to pay attention because there's a lot of gold lying around and figure out which one resonates with you at this moment. I want people to continue the conversation with you. If folks are interested to follow you and see what you're up to and learn some cable-cutting strategies and all the other advice that you have to offer, where can folks find out more?
Jeremy
They can learn more about Cable Cutting Academy at CableCuttingAcademy.com. There are all the details about the course on that site. As far as general financial coaching and financial principles and personal finance stuff, you can follow me at StrengthInNumbersCoaching.com. That's my site. Of course, I'm also on Facebook, @StrengthInNumbersCoaching. I'm on Instagram, @StrengthCoaching. You can follow me there. I do a weekly video blog on my personal finance website that is called Savvy Saturdays. You can also follow that every Saturday at noon for a new video, new tip, whatever comes out every week. I've been doing that for every year. It was a whole archive of those. They can pick whatever topic they want to learn about and watch that video too. 
Dustin
Thanks for being on the show.
Jeremy
Thanks for having me, Dustin.
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