Personal Improvement

Big Money Mistakes + Big Changes

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Table of Contents  
  1. He’s Back
  2. Thomas
  3. Big Money Mistakes
  4. A New Chapter
  5. Show Notes

When you make big money mistakes, you have to make big changes. We have both for you today, big money mistakes + big changes.

If you’ve listened to LMM from the beginning, you’re going to hear a familiar voice today. If you’ve never heard our early episodes, the voice is going to become familiar.

He’s Back

Matt was the original co-host of LMM and was there for about the first 250 episodes of the show. He and Andrew disagreed about the direction of the show, and after a frustrating recording session, things blew up, and Matt left.

It's better to own 50% of a watermelon than 100% of a grape.

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But like Liz Taylor and Richard Burton, Andrew and Matt just can’t stay apart.

A New, Old Direction

LMM started out covering the basics of personal finance and overtime, the topics we cover have grown more complex. Andrew and Thomas both have such a high level of understanding the complicated financial topics that it was only natural the show drifted in that direction.

If you’ve been with us since the beginning, this was great. You grew with the show, and from the solid base we built up together, you could grasp these high-level concepts. But new people find the show every day and they don’t have an understanding of the fundamentals.

This is what Matt was always good at; he was the avatar for the new listeners who were coming to a topic with little or no knowledge. If Andrew got a little too deep too fast, Matt could point it out, and they would walk it back together.

Some Upcoming Topics

Some of the topics we discuss in upcoming episodes will be things we’ve covered before, but we’ll break them down to the ground. Things like buying a home, health insurance, how to responsibly use a credit card, the best tools for managing your finances, and ways to make extra money. 

We will also cover some new things like how to accumulate and use credit card rewards.


Thomas started with LMM the same way I did, as a fan of the show. He developed a relationship with both Andrew and Matt and made a few appearances on the podcast. One Monday there was no new episode, and Thomas knew something was wrong.

He spoke to Andrew and Matt and offered to step in as co-host. It’s not overstating thing to say that had Thomas not stepped up, LMM would be long dead. He not only agreed to come on as a co-host but he worked for more than a year for no pay. 

All of you and all of us owe Thomas a significant debt of gratitude. He certainly played no small part in giving me the life I have today. LMM is my full-time job, and the same is true for Andrew and Laura. Speaking personally, he stretched my abilities. I was sweating while trying to understand block chains but I learned a lot.

As most of you probably know, Thomas has his site and podcast, College Info Geek that are taking up more and more of his time. He needs to spend more time with his baby now.

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Big Money Mistakes

Even the most financially savvy among us are not immune from big money mistakes.


Thomas found LMM while he was still in college and credits the show with helping him to avoid a lot of the big money mistakes young people often make. While he hasn’t made a mistake that cost him money, he did learn a lesson about buying individual stock.

Thomas used Robinhood to buy individual stocks but was obsessively checking how the stocks were doing. It caused him a lot of anxiety, and he feels like he lost thousands of dollars in productivity. From now on, Thomas will stick to index funds. 


Matt found himself $40,000 in credit card debt, despite having hosted two podcasts dedicated to personal finance. He wanted to remove himself from the day-to-day running of Swim University to work on other projects, so he hired a lot of staff.

Which was fine in the summer when the site makes a lot of money. Not so great in the winter when people aren’t thinking about pools. But he had to pay his employees, so he did it with his credit card.

In the end, Matt had to sell one of his websites to pay off the credit card debt.


Andrew worked at Lehman Brothers and thought there was no way he could make bad stock picks because he was privy to so much research. But it was research done by other people, and it wasn’t good enough. He lost thousands of dollars buying individual stocks.

A New Chapter

So we begin a new chapter at LMM. We’re so grateful to those of you who have been with us since the start and for everyone who has found us since. We will miss Thomas, but this won’t be the last you hear from him. If you haven’t already, check out his College Info Geek podcast and tune in to future episodes because he’ll come back from time to time.

If you want to hear some of the old LMM episodes featuring Matt, their still available. One of my favorites was Money for the Love of Freedom. If you like what you hear, stay tuned to LMM and check out Matt’s podcast, Money Lab. 

Show Notes

Salt of the Dog: Brewed with sea salt, coriander, and grapefruit puree.

Candice Elliott - Senior Editor
Candice Elliott is a substantial contributor to Listen Money Matters. She has been a personal finance writer since 2013 and has written extensively on student loan debt, investing, and credit. She has successfully navigated these areas in her own life and knows how to help others do the same. Candice has answered thousands of questions from the LMM community and spent countless hours doing research for hundreds of personal finance articles. She happily calls New Orleans, Louisiana home-the most fun city in the world.
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