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14: Michael Redding: Master Personal Finance

Michael R. is the Founder of Common Cents Mike, a YouTube channel where he provides free advice and assistance catered to a millennial audience.  In Michael’s words: “.. I wanted to create a channel where I can help people with something that is beyond important in our day to day lives: Personal Finance. I’ve spend most of my adult working life at a financial institution and in that time I’ve cultivated a wealth of knowledge about the subject and I want to educate and inform as many people as possible so they can better their lives. Most people think personal finance and banking is either boring, confusing, and some might even think discussing money is taboo. I’m here to tell you otherwise. Everyone deserves to know how financial institutions work and arm themselves with enough knowledge to make sure the are making the best choices available to them.
I hope you gain something from my channel and if there is anything I could assist you with, please let me know!”

Favorite Success Quote

“Winners never quit, and quitters never win.” – Michael’s father

“Society grows grapes when old men plant trees, whose shade they know they will never lie in.”

Key Points

1. Realize You CAN Compete

The moment you realize that you can make money in the background, so to speak, your life changes.  Michael saw he could earn passive income through his YouTube channel.  This inspired him to pursue his personal vision. 

2. Help Others Where You Can

Personal finance is easy for Michael.  Openly share with others.  Be willing to serve others with your talents and skills to better their lives.  Do not be greedy with your gifts.  

The Heart Healthy Hustle Round

Heart: What is your favorite activity for caring for and strengthening your internal character? 

Health and fitness maintenance.  

Health: How do you maintain your physical health and avoid burn out? 

Accept his limits, and working hard to improve how he can.  Having progress working out allows him to work on records for himself, and improve himself.  He does not living a fast paced life.  He encourages himself to slow down and focus on being content.  He eats healthy and does not smoke.  He has an occasional drink, but in a balanced manner.  He enjoys eating well consistently. 

Hustle: What’s your main motivation for doing what you do? 

Surround yourself with stories of success and accomplishment in all areas.  Realize success is the disciplined pursuit of a worthy goal.  YouTube university, and surround yourself with edifying podcasts, etc.  Surround yourself with ‘can do’ positive influences.  

What would you recommend to an entrepreneur needing to find more community? 
Force yourself to do something uncomfortable.  Try something new, and by doing something uncomfortable and exposing yourself, you force yourself to grow. 

Influential Books

Rich Dad Poor Dad  by Robert Kiyosaki

Minimalism  by Joshua Fields Millburn and Ryan Nicodemus 

Minimalism (Documentary Film)

The Millionaire Next Door: The Surprising Secrets of America’s Wealthy  by Dr. Thomas J. Stanley 

Other book mentioned in episode: The Millionaire Mind  by Dr. Thomas J. Stanley

Michael’s YouTube Channel: Common Cents Mike

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