The Money Podcast

Is your money mindset broke or rich? Rob defines both in this episode and advises what you can do to fix your money mindset if it’s broken! KEY TAKEAWAYS If you have a poor or broke money mindset, you will always repel wealth. Believing money is bad or those with it aren’t good people is part of having a bad money mindset, you will never become rich if you believe these things. You have to change your perception of what it takes to become rich and believe you are someone who can be rich too, or it will never happen.  BEST MOMENTS"The skillset without the mindset will leave you upset” “You need to change your perception of what it takes to become rich”: VALUABLE RESOURCES https://robmoore.com/ bit.ly/Robsupporter   https://robmoore.com/podbooks  rob.team ABOUT THE HOST Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “The Disruptive Entrepreneur” “If you don't risk anything, you risk everything” CONTACT METHOD Rob’s official website: https://robmoore.com/  Facebook: https://www.facebook.com/robmooreprogressive/?ref=br_rs LinkedIn: https://uk.linkedin.com/in/robmoore1979   See omnystudio.com/listener for privacy information.

Rob talks about the most dangerous ways we can mishandle our money, uncovering shocking truths about banking, savings accounts, and inflation. Rob challenges conventional financial wisdom and explains why your savings account might actually be making you poorer. From the hidden mechanics of money printing to the true nature of banks, Rob continues to share the controversial insights that will transform how you think about managing your wealth.   KEY TAKEAWAYS Savings accounts are actually "degrading accounts" - your money loses value over time due to inflation being higher than interest rates, with banks typically offering much lower rates than the base rate while making profit on the difference. The banking system operates on a model where you are the product. Banks create money from nothing, lend it out multiple times, and make a profit from your deposits while providing minimal returns and maintaining limited transparency. Inflation is not a natural economic phenomenon but a controlled mechanism that consistently devalues currency, with current inflation rates significantly outpacing any interest earned in traditional savings accounts. Liquidity should replace the concept of savings. Keeping 1-3 months of expenses liquid is important, but this doesn't necessarily mean in bank accounts; alternatives like S&P 500, FTSE 100, or precious metals can provide better security. Money printing through quantitative easing devalues existing currency while simultaneously reducing the relative value of debt, which explains part of why "the rich get richer" - they hold assets that appreciate with inflation. The 85,000 bank deposit protection isn't per bank but per banking group, meaning multiple accounts at different banks owned by the same group don't multiply your protection.   BEST MOMENTS "If you waste money and enjoy it, I'd argue that's not a waste. I think that gambling is a disgusting industry, especially when you're advertised hard at first, and lured in with money." "Be an owner, not a loaner. When you give your money to the bank, you think you're saving it, you're actually lending it to them." "If you borrow a million from the bank, you have a problem. If you borrow a hundred million from a bank, the bank has the problem."   VALUABLE RESOURCES https://robmoore.com/ bit.ly/Robsupporter   https://robmoore.com/podbooks rob.team ABOUT THE HOST Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “The Disruptive Entrepreneur” “If you don't risk anything, you risk everything” CONTACT METHOD Rob’s official website: https://robmoore.com/  Facebook: https://www.facebook.com/robmooreprogressive/?ref=br_rs LinkedIn: https://uk.linkedin.com/in/robmoore1979   See omnystudio.com/listener for privacy information.

Rob ranks tax saving strategies from best to worst while sharing his knowledge on how to legally optimise your tax position. Rob reveals why some popular tax saving methods might be dangerous traps, explains the power of ISAs and pensions, and shares fascinating insights about commercial property investment.  KEY TAKEAWAYS ISAs represent one of the few remaining personal tax breaks, allowing individuals to invest £20,000 tax-free annually, making them more valuable than many realise. Commercial property ownership through a company can offer significant tax advantages, especially when becoming your own tenant, but it's crucial to maintain market rate rents to avoid scrutiny. When choosing an accountant, there are three types: government friendly conservatives, risky rule breakers who might disappear when things go wrong, and skilled middle ground professionals worth their higher fees. Company car tax benefits work differently between Limited Companies and LLPs, with LLPs offering better opportunities for vehicle-related tax benefits under specific conditions. Business expenses must pass two key tests: running them through a qualified accountant and ensuring they don't negate tax investigation insurance coverage. Moving to tax free jurisdictions like Dubai requires careful consideration, as while there's no income tax, living costs can be significantly higher and tax rates may gradually increase over time.   BEST MOMENTS "Often the hack to save a load of tax is the Trojan horse, and you end up getting screwed by it, so you have to be careful." "When you're employed, you earn five grand, they take off the tax, they take off the national insurance, they take off the student loans, you're left with 2,100 quid and you've got no choice." "A friend of mine, who's nearly a billionaire, reckons you pay 92 percent in everything you earn and everything you spend in tax. I think it's a bit less, but I think it's easily 70%."     VALUABLE RESOURCES https://robmoore.com/ bit.ly/Robsupporter   https://robmoore.com/podbooks rob.team ABOUT THE HOST Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “The Disruptive Entrepreneur” “If you don't risk anything, you risk everything” CONTACT METHOD Rob’s official website: https://robmoore.com/  Facebook: https://www.facebook.com/robmooreprogressive/?ref=br_rs LinkedIn: https://uk.linkedin.com/in/robmoore1979   See omnystudio.com/listener for privacy information.

Rob blind ranks the worst business models for 2024 in this episode. He talks about why these are the worst businesses to own right now but also gives advice and tips on running them profitably if you are still considering it!   KEY TAKEAWAYS   1.     Restaurant. There can be a lot of staffing issues, overheads and wastage is also very high. 2.     Laundromat. You have to pay rent, rates, equipment, security and more. You also have to be careful about the areas you choose to set up in, how much volume will you get? 3.     Estate Agents: There are a lot of firms that have decades of experience, it’s traditional and old school. It’s slow and has high overheads. 4.     Gym: Fitness is a massive industry and it still evolving but it is a highly competitive space. 5.     Clothing brand: Changing fashion trends can be an opportunity. But buying stock can be expensive and complicated, there are a lot of overheads. 6.     Social media editor. It’s lean, you don’t need anything apart from your phone to get started. 7.     Social media agency. Everyone is on social media, you have a global audience and potential customers.    BEST MOMENTS "The better you know social media the easier it is for you to sell that knowledge to other people” “Sales cures all” “There’s a lot of gyms, what makes yours different” “There’s no revenue like recurring revenue”   VALUABLE RESOURCES https://robmoore.com/ bit.ly/Robsupporter   https://robmoore.com/podbooks rob.team ABOUT THE HOST Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “The Disruptive Entrepreneur” “If you don't risk anything, you risk everything” CONTACT METHOD Rob’s official website: https://robmoore.com/  Facebook: https://www.facebook.com/robmooreprogressive/?ref=br_rs LinkedIn: https://uk.linkedin.com/in/robmoore1979   See omnystudio.com/listener for privacy information.