Money Lessons with Andrew Temte, PhD, CFA

In this episode of Saturday Morning Muse, Andy explores the evolution of insurance, tracing its origins from ancient civilizations to modern practices. He discusses how early merchants shared risks to protect their goods, the development of mutual aid societies in medieval Europe, and the establishment of formal insurance contracts. The conversation culminates in the recognition of the need for systematic fire insurance following the Great Fire of London, setting the stage for the emergence of modern insurance marketplaces. #Insurance #economichistory #financialliteracy #risksharing #greatfireoflondon #mutualaidsocieties

In this episode of Saturday Morning Muse, Andy explores the dual nature of compound interest, highlighting its potential to build wealth while also revealing its darker side through the lens of compound debt. The discussion emphasizes the importance of understanding how compound interest works in both investing and borrowing contexts, particularly in relation to credit card debt. Temte provides practical advice on managing debt and making informed financial decisions to harness the power of compound interest for wealth building.

In this episode of Saturday Morning Muse, Andy explores the concept of compound interest, its historical significance, and practical applications for building wealth. He explains the mathematics behind compound interest, introduces the Rule of 72 for estimating investment growth, and illustrates the impact of small daily expenses on long-term wealth accumulation through the 'latte effect.' Andy emphasizes the importance of time and consistency in investing, particularly for young investors, and warns about the dangers of high-interest debt.

In this episode of Saturday Morning Muse, Andy explores the concept of compound interest, discussing its historical significance and mathematical foundations. He introduces Benjamin Franklin's experiment with compounding, the contributions of mathematicians like Edmund Halley and Leonhard Euler, and the implications of compounding in both wealth creation and destruction, illustrated by the Tulip Mania and government debt crises. The episode emphasizes the importance of patience and long-term thinking in financial growth.

In this episode of Saturday Morning Muse, Andy delves into the basics of investment returns, emphasizing the importance of understanding different types of returns such as nominal, real, holding period, and total returns. The discussion also touches on the historical development of return calculations and the significance of the compound annual growth rate (CAGR) in comparing investments over time. Andy encourages listeners to be informed and critical of marketing materials that may present misleading return figures. #financialliteracy #investmentreturns #interestrates #personalfinance

In this episode of Saturday Morning Muse, Andy explores the concept of inflation, its historical context, and the implications of monetary policy on everyday life. He discusses the various types of inflation, including demand-pull, cost-push, monetary, and expectational inflation, and illustrates these concepts with historical examples, particularly the Great Recoinage of 1696. Andy emphasizes the importance of understanding inflation to make informed financial decisions and highlights the complexities of monetary policy. #financialliteracy #personalfinance #inflation #economichistory #macroeconomics #purchasingpower #deflation

In this episode of Saturday Morning Muse, Andy explores the historical tension between the moral objections to charging interest and the economic necessity for credit. It traces the evolution of interest from ancient civilizations, through religious prohibitions, to modern acceptance, highlighting the innovative financial practices that emerged to reconcile these conflicting views. The discussion emphasizes the ongoing challenge of balancing the need for credit markets with concerns about exploitation and inequality.

In this episode of Saturday Morning Muse, Andy discusses the concept of interest, exploring its fundamental role in economics as the price of time. He explains how interest rates are determined by factors such as inflation, real returns, and risk compensation. The discussion also covers the calculation of simple interest and the implications of understanding interest for personal financial decisions. Temte highlights the historical moral dilemmas surrounding interest and emphasizes its significance in modern economic systems.

In this episode of the Saturday Morning Muse, Andy explores the introduction of the banknote by the Bank of England in 1694, which revolutionized modern finance by standardizing currency and formally establishing government currency backing. This historical narrative connects the evolution of banking practices to the currency we use today.

In this episode of Saturday Morning Muse, Andy explores the evolution of banking from the Knights Templar to the Medici family, highlighting key innovations, market opportunities, and lessons learned from history. It emphasizes the importance of transparency, political integration, and diversification in financial practices, while drawing parallels to modern banking and financial technology.

In this episode of Saturday Morning Muse, Andy explores the historical roots of banking, tracing its origins back to the Crusades and the role of the Knights Templar. He discusses how the need for secure wealth storage during the Crusades led to the development of early banking practices, including the issuance of letters of credit. The conversation also delves into the evolution of usury laws and their implications for modern banking, highlighting the ongoing relevance of these historical developments in today's financial landscape.

In this episode of Saturday Morning Muse, Andy Temte explores the evolution of currency from promissory notes to modern fiat money, emphasizing the role of trust in the value of currency. He introduces the concept of banking, its characteristics, and importance in the economy. Andy also touches on the Great Recession, highlighting the consequences of poor risk management in banking.

In this episode of Saturday Morning Muse, Andrew Temte explores the evolution of currency, starting from ancient Rome's coinage to the introduction of paper currency through promissory notes. He discusses the significance of these financial instruments in facilitating trade and their role in economic systems. The conversation also touches on the transition to fiat money and the implications of trust in currency value.

In this episode of Saturday Morning Muse, Andrew Temte delves into the history of money, focusing on the evolution of coinage from ancient Rome to modern monetary policy. He discusses the significance of financial literacy, the role of governments in establishing trust in currency, and the implications of currency debasement and inflation. The episode concludes with a reflection on the responsibilities of modern central banks in managing economic activity. Here’s the link to the show on Apple Podcasts: https://podcasts.apple.com/us/podcast/saturday-morning-muse/id1741154728 #financialliteracy #dadjokes #historyofmoney #romancoins #romanempire #debasement #inflation #macroeconomics #centralbanks #currencyvalue

In this special Father's Day edition of Saturday Morning Muse, Andrew Temte reflects on the essential role of fathers in shaping their children's lives. He shares a top 10 list of skills that every dad should focus on, emphasizing the importance of self-love, emotional intelligence, and financial literacy. Temte encourages fathers to embrace their journey of continuous improvement and to model these skills for their children, highlighting that being a dad is a lifelong learning experience.

In this episode of the Saturday Morning Muse, Andrew Temte discusses the evolution of money, emphasizing the critical role of trust and confidence in economic systems. He explores how governments have historically been involved in issuing money to enhance trust, referencing the Code of Hammurabi as an early legal framework. The conversation also touches on the U.S. dollar's status as a reserve currency and the implications of the US national debt on global trust in the currency.

In this episode of Saturday Morning Muse, Andrew Temte emphasizes the importance of financial literacy and understanding the history of trade and economics. He discusses the Smoot-Hawley Act of 1930, its implications on modern economic policies, and the lessons that can be learned from it. Temte highlights the significance of stability, consumer confidence, and the interconnectedness of the global economy, urging listeners to consider the historical context of current economic challenges.

In this episode of Saturday Morning Muse, Andrew Temte reflects on Memorial Day and discusses the history and functions of money, focusing on credit transactions. He explains how credit transactions emerged from the need for trade in ancient economies and highlights the importance of understanding credit and debt in today's consumer-driven economy. Temte emphasizes the historical context of credit and debt, noting the unsustainable levels of national and household debt in the U.S.

Summary In this episode of Saturday Morning Muse, Andrew Temte explores the evolution of money, starting from the limitations of the barter system to the introduction of coinage and modern perspectives on cryptocurrencies like Bitcoin. He discusses the essential functions and properties of money, the historical context of trade, and the ongoing debate about what constitutes money in today's economy.

In this episode of Saturday Morning Muse, Andrew Temte explores the evolution of trade from barter systems to modern currency. He discusses the inefficiencies of barter, such as the double coincidence of wants and the challenges of measuring value. Temte highlights the historical advancements that arose from the need to improve trade, including the development of writing, measurement systems, and currency. He emphasizes the importance of trade in human history and its role in fostering cooperation and economic growth.

In this episode of Saturday Morning Muse, Andrew Temte explores the foundational concepts of trade and macroeconomics through a hypothetical economy consisting of two regions: Fruit Land and Protein Land. He discusses the advantages of trade, the impact on societal well-being, and the necessity of education and retraining for those affected by economic changes. The conversation sets the stage for future discussions on currency and deeper economic principles. #financialliteracy #globaltrade #macroeconomics #internationaleconomics #personalfinance

In this episode of Saturday Morning Muse, Andrew Temte discusses common blunders related to risk tolerance that investors often make. He emphasizes the importance of understanding personal risk tolerance, the dangers of following the crowd, and the necessity of doing thorough research before making investment decisions. Temte also highlights the need for periodic reassessment of risk tolerance and the impact of cognitive biases on investment behavior. Here’s the link to the article on my website: https://www.andrewtemte.com/saturday-morning-muse/factors-that-drive-risk-tolerance #financialliteracy #decisionmaking #cognitivebias #risktolerance #personalfinance #FOMO #continuousimprovement

What are the Factors that Influence Your Tolerance for Risk? In today’s episode of Saturday Morning Muse, Andy explores the concept of risk tolerance in personal finance and discusses various factors that influence an individual's willingness and ability to take risks in investments. He emphasizes the importance of understanding one's financial goals, time horizon, age, income, existing portfolio size, knowledge, and stress tolerance. Learn more at: https://www.andrewtemte.com/saturday-morning-muse/ #financialliteracy #investmentstrategies #selfconfidence #risktolerance #personalfinance #continuousimprovement #riskaversion

What’s the link between self-confidence, self-esteem, and risk tolerance? We’ll explore this question on today’s Saturday Morning Muse! You can find The Saturday Morning Muse on your favorite podcast streaming platform as well as out on YouTube. Here’s the link to the show on Apple Podcasts: https://podcasts.apple.com/us/podcast/saturday-morning-muse/id1741154728 #financialliteracy #selfesteem #selfconfidence #risktolerance #decisionmaking #personalfinance #continuousimprovement #riskaversion #lifelonglearning #riskVreward

What’s your relationship with risk? How do your feelings about risk affect your decision-making? Are you a risk-taker or risk-avoider? We’ll explore these questions and more on today’s Saturday Morning Muse! You can find The Saturday Morning Muse on your favorite podcast streaming platform as well as out on YouTube. Here’s the link to the show on Apple Podcasts: https://podcasts.apple.com/us/podcast/saturday-morning-muse/id1741154728 #financialliteracy #decisionmaking #risk #personalfinance #continuousimprovement #riskaversion #risktolerance #cognitivebias

Since the beginning of the year, I’ve been releasing short lessons on financial literacy on The Saturday Morning Muse. I expect to continue building financial literacy lessons for the foreseeable future. At the end of each quarter, I will provide a recap of the lessons that were released during the preceding quarter. Here is the first of those recap lessons. Thanks for listening! You can find The Saturday Morning Muse on your favorite podcast streaming platform as well as out on YouTube. Here’s the link to the show on Apple Podcasts: https://podcasts.apple.com/us/podcast/saturday-morning-muse/id1741154728 #financialliteracy #decisionmaking #success #personalfinance #continuousimprovement #valueanalysis #financialsecurity #personalconsumption

Is your financial decision-making on autopilot? When’s the last time you reviewed your spending habits? Have Find out more on this week’s episode of The Saturday Morning Muse! You can find The Saturday Morning Muse on your favorite podcast streaming platform as well as out on YouTube. Here’s the link to the show on Apple Podcasts: https://podcasts.apple.com/us/podcast/saturday-morning-muse/id1741154728 #financialliteracy #needsversuswants #spendinghabits #personalfinance #continuousimprovement #decisionmaking #financialsecurity

Is financial literacy all about numbers and formulas or is it more about our behaviors and how we feel about consumption, money, and investing? Find out more on this week’s episode of The Saturday Morning Muse! You can find The Saturday Morning Muse on your favorite podcast streaming platform as well as out on YouTube. Here’s the link to the show on Apple Podcasts: https://podcasts.apple.com/us/podcast/saturday-morning-muse/id1741154728

How might our subconscious mind conspire against us when we’re making financial decisions? Find out more on this week’s episode of The Saturday Morning Muse! You can find The Saturday Morning Muse on your favorite podcast streaming platform as well as out on YouTube. Here’s the link to the show on Apple Podcasts: https://podcasts.apple.com/us/podcast/saturday-morning-muse/id1741154728 #financialliteracy #subconsciousmind #subconsciousbias #confirmationbias #personalfinance #continuousimprovement

How can you estimate the value of the products you consume? How do companies set the price of their products? What do the answers to these questions have to do with improving financial literacy? Find out more on this week’s episode of The Saturday Morning Muse! You can find The Saturday Morning Muse on your favorite podcast streaming platform as well as out on YouTube. Here’s the link to the show on Apple Podcasts: https://podcasts.apple.com/us/podcast/saturday-morning-muse/id1741154728 #financialliteracy #valueanalysis #valuebasedpricing #decisionmaking #personalfinance #continuousimprovement

How much time do we really spend thinking about the VALUE we derive from the products and services we buy? How can we use the concept of VALUE to make better decisions about how we spend our money? Find out more on this week’s episode of The Saturday Morning Muse! You can find The Saturday Morning Muse on your favorite podcast streaming platform as well as out on YouTube. Here’s the link to the show on Apple Podcasts: https://podcasts.apple.com/us/podcast/saturday-morning-muse/id1741154728 #financialliteracy #financialfreedom #value #decisionmaking #personalfinance #continuousimprovement

How do we improve the financial literacy of the average citizen in the United States? We start with improving numeracy literacy. You can find The Saturday Morning Muse on your favorite podcast streaming platform as well as out on YouTube. Here’s the link to the show on Apple Podcasts: https://podcasts.apple.com/us/podcast/saturday-morning-muse/id1741154728 #financialliteracy #numeracyliteracy #numeracy #basicmathskills #mathematics #makemathapproachable #personalfinance #continuousimprovement

What’s the case for investing in building financial literacy skills in our population? Are the concepts of financial literacy and success interrelated? Join me for today’s Saturday Morning Muse to learn more. You can find The Saturday Morning Muse on your favorite podcast streaming platform as well as out on YouTube. Here’s the link to the show on Apple Podcasts: https://podcasts.apple.com/us/podcast/saturday-morning-muse/id1741154728 #financialliteracy #financialfragility #financialwellbeing #success #definingsuccess #mentalhealth #personalplanning #personalplanningguidebook #continuousimprovement

What do grace, competence, financial literacy, curiosity, effective communication, and good old fashioned showing up have in common? They are essential ingredients to achieving success irrespective of how success is defined. Join me for today’s Saturday Morning Muse to learn more. You can find The Saturday Morning Muse on your favorite podcast streaming platform as well as out on YouTube. Here’s the link to the show on Apple Podcasts: https://podcasts.apple.com/us/podcast/saturday-morning-muse/id1741154728 #grace #competency #financialliteracy #curiosity #effectivecommunication #bethere #justshowup #courage #purpose #personalplanning #personalplanningguidebook

What do the characteristics of courage, grit, and agility have in common? They are essential ingredients to achieving success irrespective of how success is defined. Join me for today’s Saturday Morning Muse to learn more. You can find The Saturday Morning Muse on your favorite podcast streaming platform as well as out on YouTube. Here’s the link to the show on Apple Podcasts: https://podcasts.apple.com/us/podcast/saturday-morning-muse/id1741154728 #grit #mentalagility #secretstosuccess #continuousimprovement #personalplanning #personalpurpose #courage #authenticity

Are there really secrets to success or are the ingredients to success in plain sight? This week’s Saturday Morning Muse is part one in a series where we explore the answers to this enduring question.

Did you know we make ~33,000 decisions per day? What does the skill of decision making have to do with New Year’s Resolutions? Why do NYE Resolutions fail at a high rate? In this final installment of The Saturday Morning Muse for 2024, I’m musing about the value of resolutions and why the skill of decision making is so important. Just FYI that we’ve launched the show as a podcast on your favorite podcast streaming services. Subscribe today on Apple Podcasts: https://podcasts.apple.com/us/podcast/saturday-morning-muse/id1741154728 #decisionmaking #goodhabits #leadershipdevelopment #continuousimprovement #personalplanning #newyearsresolutions #NewYear2025

Are habits a good thing or a bad thing? How do we ensure habits are a net positive in our lives? To find out more, tune into The Saturday Morning Muse! Just FYI that we’ve launched the show as a podcast on your favorite podcast streaming services. Subscribe today on Apple Podcasts: https://podcasts.apple.com/us/podcast/saturday-morning-muse/id1741154728 #powerofhabits #goodhabits #entropy #leadershipdevelopment #continuousimprovement #personalplanning #newyearsresolutions #growthmindset

Welcome to The Saturday Morning Muse! How are the skill of self-awareness and the art of challenging conversations interrelated? We’re going to explore this issue with a short story from my first book, Balancing Act: Teach, Coach, Mentor, Inspire. Just FYI that we’ve launched the show as a podcast on your favorite podcast streaming services. Subscribe today on Apple Podcasts: https://podcasts.apple.com/us/podcast/saturday-morning-muse/id1741154728 Buy Balancing Act on Amazon at:https://www.amazon.com/Balancing-Act-Teach-Mentor-Inspire/dp/1506276644/ #self-awareness #challengingconversations #powerofwords #emotionalintelligence #leadershipdevelopment #continuousimprovement

Welcome to The Saturday Morning Muse! What’s one of the most important gifts you can give yourself this holiday season? Investing in financial literacy skills! Just FYI that we’ve launched the show as a podcast on your favorite podcast streaming services. Subscribe today on Apple Podcasts: https://podcasts.apple.com/us/podcast/saturday-morning-muse/id1741154728 #FinancialLiteracy #HolidaySpending #CreditCardDebt #ContinuousImprovement #FinancialHealth #Mentorship #MoneyAndInvesting #BehavioralFinance

Welcome to The Saturday Morning Muse! With Thanksgiving 2024 in the rearview mirror, I’m offering a few Thanksgiving reflections this weekend. What does your inventory of gratitude look like? I encourage you to write down your thoughts for future reflection and refinement. Just FYI that we’ve launched the show as a podcast on your favorite podcast streaming services. Subscribe today on Apple Podcasts: https://podcasts.apple.com/us/podcast/saturday-morning-muse/id1741154728 #Thanksgiving2024 #gratitude #continuousimprovement #givingback #mentorship #coaching #brotherhood

Welcome to The Saturday Morning Muse! Today, I’m celebrating the release of my rock band’s new album with a message that dreams can come true at any age! Here’s an excerpt: “But now it’s time for a new chapter—one where I stand and say “I’m not finished—I’ve got more to contribute.” It’s time to make the dream of creating a lasting work of art that will outlive me a reality. Just because I’m in my early 60s does not mean that I lack the energy to create new music to give to the world. Music that I’m deeply proud of and hope resonates with listeners of all ages.” Stream Feel Something New by The Remainders @theremainders today: https://ffm.to/feelsomethingnewlp Just FYI that we’ve launched the show as a podcast on your favorite podcast streaming services. Subscribe today on Apple Podcasts: https://podcasts.apple.com/us/podcast/saturday-morning-muse/id1741154728 #albumrelease #newmusic #rockmusic #feelsomethingnew #leadershipdevelopment #growthmindset #personalgrowth #liveyourdream #dreamscometrue

Welcome to the Saturday Morning Muse! Today, I’m talking about the skill of critical thinking and the essential sub-skills that are needed to build this skill. Here’s an excerpt: “The challenge we face is that critical thinking is hard. The easy path is to not question, not ask ‘why,’ and not dig for deeper meaning and root cause. The more difficult, but ultimately more rewarding path is to challenge fixed belief systems, internal biases, and recognize that when we deflect and point fingers at others, three more are pointing right back at us.” Just FYI that we’ve launched the show as a podcast on your favorite podcast streaming services. Subscribe today on Apple Podcasts: https://podcasts.apple.com/us/podcast/saturday-morning-muse/id1741154728 #criticalthinking #skilldevelopment #continuousimprovement #leadershipdevelopment #lifelonglearning #growthmindset #activelistening #listeningskills #selfawareness #decisionmaking

Waking up this morning in Madison, Wisconsin enjoying a brief visit with our eldest son! Welcome to the Saturday Morning Muse. Today, I’m musing about the skill of critical thinking and how to make progress on the lifelong journey to improve this skill. Here’s an excerpt: “Since (a) an individual’s life experience is primarily defined by the decisions they make over time, and (b) critical thinking is a necessary condition for making better decisions; if an individual wants to (c) live a rich, meaningful life and achieve economic and professional success, then (d) it is essential to build critical thinking skills so they can make more good decisions than bad. Put differently, if an individual wants to be successful, by whatever definition of success matters to them, the path to success depends on investing in critical thinking and decision-making skills.” #criticalthinking #skilldevelopment #continuousimprovement #leadershipdevelopment #lifelonglearning #growthmindset #activelistening #listeningskills #selfawareness #decisionmaking

Well, the spooky season is officially behind us, so let the holiday season begin! Welcome to the Saturday Morning Muse. Today, the topic is our historical learn→work→retire mindset and the dangers of succumbing to the allure of the easy chair. Here’s an excerpt: “So what’s your plan for retirement? Yes, you may want to step off the treadmill of a fast-paced career path, but it’s essential that you not stand still. Standing still is the fast pass to a slow and oftentimes painful slide into oblivion. Instead, commit now to developing the habit of continuous improvement and lifelong learning. Keep moving in retirement. Give back. Mentor. Take a part-time job that fits your purpose. Living a full life means living a full life. Don’t give up on yourself.” #retirement #retirementmindset #continuousimprovement #brainhealth #lifelonglearning #growthmindset #lifeexpectancy #balancingact #selfcare #priorities #neuroplasticity #workaholics #leadershipdevelopment

Today, the topic is your civic obligation to VOTE and our collective duty to defend and protect the US Constitution. Here’s an excerpt: “Are we perfect? No. Is the great American experiment in democracy worth defending and protecting? Yes. How do can we do that? Open your mind; break free of your information cocoon; get informed; know the difference between entertainment and hard, unbiased journalism; build your critical thinking muscles; don’t worry about what your friends or neighbors will say about your vote; and then VOTE on November 5th.” Just FYI that we’ve launched the show as a podcast on your favorite podcast streaming services. Subscribe today on Apple Podcasts: https://podcasts.apple.com/us/podcast/saturday-morning-muse/id1741154728 #decision2024 #voting #civicduty #USConstitution #politicalpolarization #geopoliticaltensions #criticalthinking

What can we do to help reduce overall stress and anxiety levels in our communities? This week’s Saturday Morning Muse is part 3 of 3 in our series that explores generational differences and offers solutions to high stress/anxiety levels. "These are just a few suggestions for how we can address the current epidemic of anxiety in the U.S. Increase financial literacy, get educated, adopt an agile, lifelong learning mindset, periodically unplug from social media, advocate for changes to our educational system to improve the skills of critical thinking, creativity, and decision-making, do what you can to reduce your impact on the planet, and understand when you’re being played by politicians and the media. We are all in this together. Support your neighbor, get to know individuals from other cultures and other parts of the world." Just FYI that we’ve launched the show as a podcast on your favorite podcast streaming services. Subscribe today on Apple Podcasts: https://podcasts.apple.com/us/podcast/saturday-morning-muse/id1741154728 #decisionmaking #anxiety #stress #genz #educationmatters #climatechange #politicalpolarization #geopoliticaltensions #criticalthinking

What can we do to help reduce overall stress and anxiety levels in our communities? This week’s Saturday Morning Muse is part 2 of 3 in our series that explores generational differences and offers solutions to high stress/anxiety levels in our population. "I can’t put enough focus on the value of education and good decision-making that’s accompanied by a lifelong learning mindset as ways to reduce stress and anxiety. Too many in our society are on auto-pilot, going through the motions of life. Life is happening to them. Self-reliance developed through learning and education coupled with better decision making skills is the path to making things happen in your life and taking control of your narratives and outcomes." Just FYI that we’ve launched the show as a podcast on your favorite podcast streaming services. Subscribe today on Apple Podcasts: https://podcasts.apple.com/us/podcast/saturday-morning-muse/id1741154728 #decisionmaking #anxiety #stress #genz #educationmatters #creativity #criticalthinking