John Ackerman, left, and Paul Heintzman. | Courtesy of Facebook

Two Louisville millennials have combined their love for beer and finance in a weekly podcast called “Drunken Money.”

Paul Heintzman, 25, a business banker at Stock Yards Bank, and John Ackerman, 25, a certified public account with his own business, connected through YPAL and discovered a shared interest for imbibing and listening to podcasts — and being tired of hearing the stereotype about how millennials don’t understand finances.

High school and college leave a lot of gaps in education about finances, including budgeting, mortgages and savings, Heintzman said.

According to a study by PWC, only about a quarter of millennials understand finance basics, while about a third were dissatisfied with their current financial situation and more than half worried about their ability to repay their student loan debt.

Millennials aren’t alone: According to Bankrate.com, less than half of American adults have savings with which they could pay an unexpected expense.

Heintzman said a lot of the advice millennials get these days come from older generations that tend to use a lot of jargon and talk down to younger people.

Heintzman and Ackerman talked over a couple of drinks and decided to start a podcast to allow others to learn from their mistakes, to address some of the questions they had heard from friends and to provide advice in a conversational, fun and easy-to-digest way.

“We’re the most diverse, tech-savvy generation, but what we’re missing is finances,” he told Insider.

Overcoming that hurdle would greatly benefit millennials — and the country in general, Heintzman said.

For topics about which the hosts know little, they invite guests, such as Gina Palazzo, a local millennial and financial adviser who answered questions about life insurance. Podcasts range in length from 20 minutes to about an hour.

Some of the best advice from the hosts:

  • Make a budget. Try to stick to spending 50 percent of your income on “needs,” 30 percent on “wants” and keep 20 percent for savings. “A lot of people don’t know where their money is going,” Heintzman said. He advised that people avoid waking up on Monday morning worried about looking at their bank account.
  • Start saving. Now. A lot of millennials think that they can start saving in their 30s or 40s, but they’re missing out on the awesome impact of compound interest. Heintzman said people need to start saving today, even if it’s just a dollar a day.

Heintzman said that the number of weekly listeners is hovering around just 100, but he and Ackerman produce the podcast primarily because they enjoy it.

“It’s one of the most fun times of my week,” Heintzman said.

That’s in part because of the guests, but also because the hosts try new beers, bourbons and wines they mention and review on the show. The duo tapes the podcasts on Sundays and releases them on Wednesdays.

The frugal podcast hosts recently upgraded their equipment to improve the listener experience — but they kept an eye on their finances. The new microphones they bought cost $70 each. Heintzman continues to edit on his Apple computer.

Boris Ladwig is a reporter with more than 20 years of experience and has won awards from multiple journalism organizations in Indiana and Kentucky for feature series, news, First Amendment/community affairs, nondeadline news, criminal justice, business and investigative reporting. As part of The (Columbus, Indiana) Republic’s staff, he also won the Kent Cooper award, the top honor given by the Associated Press Managing Editors for the best overall news writing in the state. A graduate of Indiana State University, he is a soccer aficionado (Borussia Dortmund and 1. FC Köln), singer and travel enthusiast who has visited countries on five continents. He speaks fluent German, rudimentary French and bits of Spanish, Italian, Khmer and Mandarin.


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